Rhwillcol post of advfn7 Nov 2016 10:19
Mike: thank you for your logical and encouraging posts. I just wish to say that I am in full agreement with what you write. The fact is that Device Authority now has £2.5mn, due to the recent successful fundraising. They decided to do a one-off fundraise in order not to have to go back to the market. Further, I am assured that the placing proceeds have gone to investors, not short-term traders, nor to the likes of HH. Basically, they now have more than sufficient money to see them through to a successful sale. The huge amount of M and A activity in IOT, particularly into IOT cyber-security, suggests that we won't need to wait very long. They could have raised a lot more money in this placing as it was hugely over-subscribed. They decided they had enough. As we are partnered with major global players, we have revenues coming in, which will in due course become massive (if not bought out before then) as we are dealing with "billions" not "millions" of devices. There is a lot of negativity on this bb. The company has plenty of money, and our revenues are there, and are increasing, as "hypergrowth" kicks in. Al Sisto, Tern's newly appointed CEO, is now in charge. This fundraise and that particular Flexiant sale have been done on his watch. Also on his watch has been the successful development of Cryptosoft and now Device Authority. It has been an excellent business leadership, and we are in extremely experienced and capable hands.