Member Info for Inthetin

Sorry:- i.e. submitted, not received (and that's as at 18/05/18).

The Annual Report (dated 18/05/18) says under 'Post Year End Highlights':- "R&D tax credit cash refund claim of £1.4m (2016: £0.7m) has been submitted to HMRC"

HMRC R&D PROCESSING TIME. HMRC advise that the processing of claims can take between 4 to 6 weeks and is usually true for companies claiming tax credits.

Hi BST That could be interesting - timing-wise. As at 18/05/18, claim had been submitted to HMRC but obviously not received. These tax credits are designed to help with cashflow so you would expect the turnaround by HMRC to be pretty quick, if they are happy with the claim. ITT

Hi tony.s There aren't many of either from what I can see (about 90,000 shares traded in total - about £7K worth). Can you see more? The gambler in me is saying to have a nibble but I'm managing to resist for now. Let's see what tomorrow brings. ITT

JC appears to be trying to hide the fact that he's the Executive Chairman of the world leader in narrowband RF mesh networks. No mention of Cyan in his experience summary of the last 15 years, even though 40% of that time relates to it. It's as if he's embarrassed to be associated with Cyan (understandable I guess). No doubt Cyan will be edited out soon, just as if it never happened.

Hi CB I appreciate that the amount involved is relatively small but the point I was attempting to highlight was that you'd have thought that JC would know that it had no impact on the loss. ITT

Hi CB Is he not confusing the undelivered product with the closing stock (£850K) re. delayed contract referred to in the auditor's report? If so, that has no impact on P&L, as it's included at cost. ITT

Before the end of July is what I think, you think differently - that's fine.

Hi Overfiend1981 Placing before the end of July is my bet but we'll just have to wait and see. ITT

Cost cutting is a condition of the impending placing to be announced shortly, nowhere near the end of the year. Who is running this show, JC on his £500K or the noisy shareholders?

Hi CB I don't believe Cyan will around that long.

Hi LTI Yes, can't argue with that. Just have to hope that this Omnithingy is all it's cracked up to be. Cheers ITT

Isn't �500K pa savings nearer to �40K pm than �50K pm? Therefore, costs are �630K pm until more staff decide to leave.

IMO, the government shouldn't prop up shite companies like Cyan with �1.4M in tax credits, when that money could be far better spent elsewhere (the list is endless).

Hi master36 When you are paying yourselves about 10 times more than you are worth, it's quite easy to invest some of it back in the company. At the end of the day, it keeps the show on the road. They should have been fired ages ago but the fact that they have so many shares means that they are harder to remove. They've got their claws well & truly embedded into this one.

Hi tonyj Sorry, but as the Cyan website says; "He is a highly successful Chairman, CEO and MD in International markets (Europe, Americas, SE. Asia)". That's why he's paid �500K pa. He's not paid that amount to make massive calls like this wrong and it's not a recent phenomenon, calling it wrong has been going on for years (about 6 in fact). Effing cluesless. Commemorative stamps out for the BoD issued today too:- https://www.bbc.co.uk/news/uk-44448061

"IMO, they won't get another placing off." (ITT 21/03/18)

Hi jake It sure does. Only a �3M loss for the first 6 months then - great! That's �30M under JC's watch. That's got to be worth a pay rise and increased bonus for all BoDs.

The �500K saving is probably not a BoD decision, they're just spinning it that way. My guess is staff have been doing their own checks on Cyan's finances and have decided to find themselves jobs with more security/prospects. I don't believe a word the BoD says.