Member Info for Inthetin

Stunning website:-

http://www.innologixconsulting.com/home/about-us.html

This morning's 1m sell and buy are irrelevant (IMO). Today's collapse in the SP is just recognising that another £500K of cash has been blown.

...down the Swanee.

Nobody can possibly be expecting this to end well for LT private investors (IMO).

Who in their right mind would want to be paid in Cyan shares?

No one really, it appears. They've only managed to palm off £12K's worth in six months.

They can't possibly expect shareholders to just sit and wait until 31/03/2020 to find out (i.e. for the publication of unaudited interim accounts for the six-month period ended 31/12/2019 ).

The last confirmed bank balance was 30/06/2019 (i.e. over 7 months ago).

Their commitment to quarterly reporting didn't last long. What are they hiding (apart from the obvious)?

"On a monthly basis, management accounts, including a comprehensive cash flow forecast (Easy - nothing in, half a million out), are reviewed by the Board in order to provide effective monitoring of financial (under)performance. At the same time the Board considers other significant strategic, organisational and compliance issues to ensure that the Group’s assets (?) are safeguarded and financial information and accounting records can be relied upon. The Board formally monitors monthly progress on each development."

As they are obviously keeping on top of things, including the monthly management accounts and comprehensive cash flow forecasts, how about letting shareholders know the state of play re cash at bank? An update is overdue.

... there's nothing about old Cyan, of course.

There is a bit about SMS and its competitor Calisen (CLSN) fighting over the scraps that is the UK smart meter market.

Apparently, SMS has 500 in-house engineers (I bet there's a lot of thumb twiddling going on there).

CyanConnode has been ranked in 20th place in the Deloitte UK Technology Fast 50 2019. The ranking is based on revenue growth over the last four years, from 2015 to 2018.

I wonder how revenue 'growth' over the four years from 2016 to 2019 will look?

2016 - £1.8m
2019 - £1m (first 6 months) + ? (eff all)

Oh dear. No cash and no sales - not a great combination.

Hi Vas

That's far too sensible.

Peter Tyler (NED) and his wife didn't put a penny more in last week when they shuffled their Cyan shares about. A great vote of confidence (not).

I bet that they would have preferred to keep their cash out and spend it on a nice supper out instead but knew that they couldn't.

It's as dead as a..........

https://www.youtube.com/watch?v=8XiFaHB2BcY

I'm reading a great book at the moment - Margaret Heffernan's Wilful Blindness.

In chapter three, she talks about dangerous convictions, giving an example of research carried out on a group of people (Mrs Keech and her devoted followers) back in the 1950's who believed that the world was going to be completely flooded but that they were going to be OK because flying saucers were coming to rescue them.

Is JC our modern day Mrs Keech?

The fact that chappy is fiddling around with his shares suggests to me that there's isn't any news expected imminently. It would look a bit dodgy and might need explaining, even if the amounts involved are pretty insignificant.

Might partly explain why Deloitte dumped Cyan:-

https://www.thomsonreuters.com/en/press-releases/2020/february/21-percent-rise-in-auditor-resignations-229-in-the-last-year.html

15/09/2017 - "The Share Consolidation may also help to make the Consolidated Shares more attractive to future investors and may result in a narrowing of the bid / offer spread, thereby improving liquidity while also lowering price volatility." (BoD)

Well, that worked a treat. Shares have gone from 28p to 2.8p (down 90%) since then. Nice work.

What next from the 'entrepreneurs'?

Hi Rkk1

Cheers.

Lucky you. I am frequently sat on my **** working in front of my PC, so can view this source of completely useless information at regular intervals.

Big whoop

https://www.youtube.com/watch?v=qydWSM1_0L8

Someone thinks so - piling in with a ton (almost).

WHY DID THEY FEEL THAT IT APPROPRIATE NOW, IF THEY HAVEN'T IN 17 YEARS? - Could have made this bit up.

IF THE COMPANY HAD SUCH GREAT PROSPECTS, WHY WOULD DELITTE LLP NOT PARTICIPATE IN THE TENDER? IT DOESN'T MAKE ANY SENSE. - Periodically, every business needs to have a cull of its ****e customers/clients and Deloitte appears to have included Cyan in the ***** category.

IN WHAT WAY IS IT RATIONAL AND MORE PRACTICAL TO USE THE FINANCIAL YEAR END OF ITS INDIAN SUBSIDIARY? - Perhaps RSM UK Audit LLP came up with this gem. Make an application to Companies House to change the accounting period end (taking about thirty seconds), get Cronin off the hook temporarily by delaying the requirement to report any figures and drop in a decent sized bill for the privilege to test the water. That bit of advice has got to be worth £10K to RSM.

Of course, I could be completely wrong.

There isn't an entrepreneur in the building.

Entrepreneurs don't constantly fiddle around with the company's shares, their own salaries & options and accounts etc , all that they are focused on is growing their business. You can't learn how to be an entrepreneur at any business school.

If you haven't already read it, this is a good (fun) read:-

https://www.amazon.co.uk/Shoe-Dog-Memoir-Creator-NIKE/dp/1471146723/ref=sr_1_1?keywords=shoe+dog&qid=1580730322&sr=8-1