Member Info for martyh

The question of competitors was asked on the Zoom call as part of the fundraise.

Verditek believe they have the only TUV certified solar cells of this type.

https://www.investegate.co.uk/verditek-plc--vdtk-/rns/iec-certification-of-pv-technology/201907100700030106F/

They said that certain installations need to be certified, otherwise it could invalidated the site’s insurance.

Great discussion guys.

Verditek have created a new twitter account. The new CEO is making good on his promise of more PR.

This tweet has a new corporate video:

https://twitter.com/verditek_plc/status/1268474535352958976?s=21

I like this tweet showing solar cells on tents

https://twitter.com/verditek_plc/status/1268833847145385984?s=21

Word for word.

Ubisoft!

‘the Company is also actively selling advertising into a title from a leading creator, publisher and distributor of interactive entertainment and services.’

Type ‘a leading creator, publisher and distributor of interactive entertainment and services’ into Google and see what comes up!

Lisa was Director of investor relations at WPP. This is a serious appointment.

Her contacts will certainly help with Bidstack’s funding needs.

Great news.

Gfinity’s 10 million+ website users are hugely valuable.

Gfinity are modelling their Digital Media business on Future plc. Future plc run specialists websites and also have physical magazines. They recently announced their H1 results to 31 March 2020.

I’ve looked at how much Future plc makes from each user and how much each user is valued at.

Future plc had revenues of £144m for the half year, of which £115m came from their digital sites and £29m came from magazines.

They had an average of 253m online users in H1 and ended the half year with a record 329m online users in March 2020.

Therefore they achieved revenue of £0.45 per user in the half year, equivalent to £0.9 per user per annum.

Applying this to Gfinity’s 10m+ users equates to £9m in annual revenue! (and at high margins).

Future plc is valued at £1.23bn. 80% of revenue comes from their websites and this is at a higher margin than magazines so I think it’s fair to attribute 80% of the market cap value to the website side of the business. So that’s about a £980m valuations for the 329 millions online users at the end of March, or about £3 per user.

Applying this to Gfin would equate to £30m of value for the 10m+ user base. That’s over 4p per share, before any value for the other significant parts of Gfinity’s business.

Vox podcast yesterday talking about digital media business:

https://audioboom.com/posts/7591277-reabold-resources-gfinity-bahamas-petroleum-and-glen-goodman

That from the TRX announcement isn’t it??

Not TILS

The company will need approval at the AGM for the capital reduction and distribution of the new company. The record date will be after this approval has been gained.

21 days’ notice is needed for the AGM, so the record date could perhaps be in a month’s time if everything goes quickly.

Yes, private investors got 100% of what they requested in the £2m Primary Bids offering (provided they were able to apply in time).

But on the £12m placing there was huge demand from institutions, meaning people only got 25% of what they asked for.

This means there could still be large demand for shares.

Could be another strong week ahead of us.

I hope the company starts its PR offensive soon. It would be great if a wider audience could hear the CEO’s plans.

Intrepid

I took part in the placing and was similarly scaled back due to large institutional demand.

Primary Bid allocations were 100% on a first come first served basis. Perhaps other are confusing the placing and the Primary Bid subscription.

Does anyone know the approximate cash position of the company following the recent fund raises?

Thanks

It's 14.6 in total. 12 from placing, 2 from PB and 0.6 from directors.

I took part in the placing. Heard there are large institutions coming on boards. Should get shareholding notifications once the shares are issued.

The money should get them to profitability.

In Hardman's research note from February, they were forecasting a swing to a £2.5m EBITDA profit in 2022, and that was before the benefit of the additional cash for the Phase 2 development.

From yesterday’s RNS, the fundraise should allow the company to access a further $13m of loans from Midcap. Will give the company a lot of firepower to reach profitability.

‘The Company has reached an agreement in principle with Midcap that, upon successful completion of the Fundraise in any amount of not less than £5m gross proceeds, Midcap will agree to extend the repayment of the outstanding principal of the term loan for three years followed by amortisation on a straight-line basis thereafter over 12 months. In addition, access to Tranche 2 and Tranche 3 (further information relating to which is contained in the Company's announcement on 14 November 2019) in the amounts of $10.5m and $2.5m respectively will remain in place, subject to Midcap's discretion.’

Chart covered on share-talk

https://www.share-talk.com/share-talk-bulletin-board-heroes-thursday-21st-may-2020/#gs.70n5sn

6.5p target and then 12p.

The new CEO's contacts are the other crucial piece. His previous role at Ecolog was focused on the area he is targeting with Verditek.

A great combination of a top salesman, world class product, and industry contacts.

He has a great sales record.

In his previous role at Ecolog he developed a project pipeline of $170m in 4 months. In prior roles, as Sales Director for the Asia Pacific region for Siemens Oil and Gas, he took the business from revenues of Euro 8m to over Euro 340m, while at KNM as Chief Operating Officer he helped turn the Company around to be generating over USD150m of revenues per annum.

There's a reason he left a senior role to join Verditek.