Member Info for iWantThatOne

Thanks for the link Ian. "The first LIGHT system is being installed and commissioned at our test site at STFC Daresbury, in
the north of England, where we will also carry out our first patient treatment, prior to shipping to our
customer sites. " Whoah, did I miss that? I thought they were still planning first patient treatment in Harley Street?

Supercaps will double the new Tesla battery life? Not if Musk's statement that electric cars have no need for ultracaps can be believed (at least to support the battery). He doesn't have the best record, mind you.

Bank of America analysts forecast gold at $3000 per oz by end-2021, according to The Times today.

Of course the unpalatable truth is that the progress announced today is the result of the work initiated largely by the previous two directors!

“In a number of instances, we are working through Government regulations and guidance with prospective customers with regards health and safety and other site-specific requirements such as those found in service station forecourts.” That’s a good sentence right there. I’d say that means they’re quite a way down the road with those discussions.

Jl - just read the RNS! Of course the CEO doesn’t openly trash his predecessor in public but you only have to read to see how much the company has lost its way. Look at the SP - that’s what the market thinks of the situation.

Damning verdict on Ory's more recent stewardship of the company. Run for short term gain, not enough long term investment; senior executive team replaced; media work shut down; too much reliance on a small number of verticals. I like the cut of the new CEO's jib, I think he'll do a good job of turning round the company but it ain't a short term fix.

Cash at end-June 2019 was c$43m. In the 19-Dec trading update we were told adjusted EBITDA for the full year would be £32m, up from $18.6m at the HY. If we take that increase of $13.4m as a proxy for cash (it's not far off), and deduct H1 divi £5.8m and a bit of tax, then they'd have c$48m cash at 31-Dec. Running costs for H1 2019 were $14.5m. So if we assumed no income for Jan-April 2020 and deducted the pro-rata costs of c$10m, they'd have cash of c$38m at end of this month. Of course that's very simplistic - e.g. there was an additional spending programme, but then they may have trimmed costs due to Covid. And of course there will be some income. $38m is c£27.6m, compared to mcap £42m. I suggest that an mcap comprised of c60-70% cash is pretty low risk.

Every company has a moment when it’s share price suddenly switches onto the value that exists. To expect that point to arise in the middle of a pandemic seems to me naive. HUM has not been helped by changes in strategy from several IIs leading to selling, pit wall and weather issues and yes, some poor management decisions. Later in H2 I’m pretty confident that the inflection point will be reached, based on debt being exceeded by cash reserves and an extended LOM.

Happy enough with the fund raise today. At the moment it’s all about cash and being able to come out the other side. Plenty of companies won’t. Unfortunately I tend to agree not much will happen for a while but let’s be realistic - we’re all going to be confined to quarters soon (it will happen!), so to think there’ll be lots of industrial activity anywhere in the next few months is wishful thinking!

Muz - "The EUS revenue margin at least halved from H1 to H2". Do you mean the average fee on the EUS? From H1 to H2 the average fee only fell from 0.68% to 0.63%. In H1 revenue was £3.18m, EUS £467m. In H2 revenue was £3.98m, EUS £626m. The margin on all EUS business is virtually 100% as there are no direct costs that can be specifically allocated to it.

Wow, great confidence from investors in pledging this amount of cash in the current environment. Tbh I’d rather they’d raised, say, £1m at this price with more later on after the LOM has been increased later this year. I can only assume they’ve got a near-term need for much of the proceeds. Good stuff.

Zooter, agreed, provided it has cash to get through the period until things are back to “normal”, why wouldn’t it triple from here? There may be fewer bets if money is tight for some but, on the other hand, more and more states will be online within the next 12m.

On looking at the figures more closely, the EUS average fee stood up well at 0.65% for the year, with only a marginal reduction H1 to H2. Net revenue from the payments side was £7.09m, and from the data side £0.81m (much lower due to the revenue sharing arrangement). Allowing for a further doubling of EUS in 2020 and modest growth in data, I have this on an EV/EBITDA of c10 at this share price. The real kick would then come next year where (again on what would seem reasonable assumptions to me, including a further EUS doubling), that ratio drops to c3. I can see, then, why a price target of 225p is being maintained.

As good an RNS as anyone could hope for in this current environment! Virtually insulated from covid-19, a further doubling of EUS expected, data going well....I see some on the other site are questioning whether “doubling” is mentioned. Well “exponential” is quoted and Ray himself told me in an email that they’ve simply started using the “e” word because in the US they seem to prefer it to the word doubling.

Companies like AVO that a) are pre-production and b) need cash always get marked down much more than others at times like this. The key, of course, is can they raise the cash needed to complete the testing until orders come in? I'm pretty relaxed about this, given the rewards that are close now. This is an amazing entry price for anyone who's got got cash to invest and is comfortable with a modest amount of risk, IMHO.

If the sales of the fever scanners continue at that rate then they would cover the cost of the remaining £1.7m CSLNs by summer. And that saves a load of interest.

Interims to 30/9/19 - cash at bank covers net current liabilities. Positive EBITDA since will further provide contingency. Stop scaremongering Thoth.

Too pessimistic, these comments today, IMHO. Look at the exponential growth of Verify. The £0.5m revenue from that product has come mostly from H2 - perhaps from Aug '19 on average, so 1/3rd of the year. That will produce a whole load more revenue in the whole of 2020, and that's even before the additional 100 brands they are targeting. The increase in expenses is understandable given the need to expand in the US. The fund raising later this year that they've flagged will be a drag on the SP for quite some time but there remains lots of potential here.

But gamble on what? Online casino, fine. Possibly no US sports events for at least three months. But when everything is back up, the potential is even larger as we have more states coming on board as well as the listing. I think GAN has enough cash to get through this difficult period but in any case wouldn’t have trouble raising it.