Member Info for Moneysponge

RSI made a higher low

Price has made a lower low

What does that indicate, anyone?

Despite people like red hornet and haggis the conman screaming this is a buy at every price

and one guy even claimed this was in a quote 'slow uptrend'

Now the chart actually does look like it will move to the upside

Good volume as well today

Short term bullish now

Long term bearish without news though

Price action looking lot better

Read my posting histry bunbleb

Clear as day

black and white

I said this would find support around 12p when price was closer to 25p

I got laughed at

Called a troll and put on on guys filter list

lol

now your all preying im right and this rallies

dont worry though it will

But like I keep saying

unless there is news on sales any rally will be short lived

doesnt mean you carnt make a bit of money off the rallies though

AS I said at around 25p but got laughed at

This will find support around 12p initially

Expecting a reasonable bounce here now

But it will be short lived so dont get excited

We welcome the swiftly convened general meeting announced by Bidstack this morning, allowing all shareholders the opportunity to exercise their rights and directly impact the future of the business that they own.

We welcome that the company has committed to reducing the size of its 8 strong board.

We welcome that the Board has recognised that it can, and has committed to, greatly improve investor communications.

We welcome that the Board is reviewing its advisory relationships to ensure the company and board is receiving the best advice and investor access.

While these are all actions that we advocated for, we do not believe that this morning’s announcement goes far enough and raises additional questions, alongside those that remain unanswered as the basis for our EGM requisition:

If this board recognise the board is unnecessarily large, why did they not already take action to reduce it given the cash requirements of the business?

Why has this board not previously felt that engaging with investors and maintaining strong sentiment is valuable to the company and driving per share intrinsic value?

Why has this board been unable to provide a measurable plan and timeframe for the actions it has proposed to take?

If this board has recently been able to action a reduction in average monthly cash burn of 40%, why were they allowing such a high level of cash burn to continue at elevated levels for so long given their limited cash runway?

How is this board able to justify bonus payments of £226,815 in 2022 and £577,473 in 2021 while the business needed to raise cash from shareholders to fund operations?

If this board is comfortable with market expectations, why is it not able to provide its own guidance that it can be accountable for?

Why did this board allow the selective disclosure of material information to certain shareholders?

Why was this board not able to organise its AGM within the legally permitted timeframe?

These questions are the foundation of our belief that not only does the board need reducing in size, it needs additional expertise and fresh perspectives. It is disappointing that the announcement this morning did not contain this board’s thoughts on the actions I proposed to pursue as a director of the company and focused on preserving the status quo rather than demonstrative, positive change. Does this board believe:

It has explored all financing options in their current raising to ensure minimal dilution for shareholders?

It has explored all options for resolving the Azerion dispute and allowing for the commercial agreement to be re-ignited?

The share-based incentive structure cannot be improved to make it not only more aligned with shareholders but also more incentivising for participants?

Share-based payments for directors until the company is cash generative aren’t aligned with the interests of shareholders?

It has the capital markets and investor communications expertise to turn around sentiment and drive shareholder value creation?

The company has announced support from certain shareholders to vote against the EGM resolutions. Namely, 19.26% to vote against all resolutions and 28.49% to vote against my appointment to the board. With a 50% majority required to carry an ordinary resolution they are a long way from having the required support. If many shareholders choose not to vote, shareholders representing just 28.5% of the outstanding capital would be required to pass all resolutions on a 50% majority. Every vote is equal. Choose to make it count.

Fortunately, the company’s AGM is being held on 21st July, ahead of the 27th July EGM. It is not only an opportunity for shareholders to vote on a number of the current board members, but also an opportunity to hear answers to the above questions directly from this board. We encourage all shareholders get a letter of representation from their nominee broker and attend where possible. I will also be happy to discuss my nomination with any shareholder who wishes outside of the meeting.

We also encourage the company to live stream the AGM to ensure that all shareholders have access to meeting rather than keeping it closed to those able to travel. This service is readily available and would surely be in the interests of all shareholders and indicate that this board truly intends to actively engage with shareholders from this point forward.

I also encourage those institutional investors that have indicated their support of this board’s positions, and those considering doing so, to contact me directly and make a personal decision on whether I can add the expertise and oversight that the many shareholders already supporting my nomination believe. I am more than happy to be questioned on my proposals and judged on my merits.

The upcoming AGM and EGM allow all shareholders the opportunity to exercise their rights and directly impact the future of the business that they own. They get to choose whether the track record of this board merits the continued service of all the directors or whether there is a need for change and a measurable plan for realising the enormous value potential of the business.

It is for the owners of the business to now decide, not this board.

I would also add my shares to this list

Anyone know how to support

who to contact ect

Ive already told you lot this is heading for around 7p

Where is that clown that was keeping a list of "derampers" to put on filter

How much money has he cost himself and others by trying to silence any opposing view other than afc is going to the moon

absolute state of him and red hornet and the biggest con man of all haggis

The truth being that you are over exposed and massively under water here?

lol

sillylittlesouthcoastbather

No wonder you are on this bored ramping it day in day out to anyone that will listen

how many poor unsuspecting folk have brought in and are no desperately down due to your insessent ramping I wonder

dear oh dear

See you at 22p! :)

Good one Southcoastbather

Making daft financial judgements like that is probably how you got into boo in the first place

Remind me again how much you have invested here

is it everything

would everything be the correct answer?

lol

See you at 22p

Hahaha sillylittlesouthcoastbather

Still ramping this dog like you were at over 50p not long back

Disgusting behaviour

The guy wouuld sell his own granny to get back to breakeven here

wouldnt trust a worth out his mouth

Https://www.retailgazette.co.uk/blog/2023/07/boohoo-gives-shares-6m-staff/

How much you got in here again Southcoastbather

Everything?

lol

See you at 22p

Multiple taps at support in quick succession

Very ominous

I expect my 22p target will be hit very quickly after support breaks

as investors finally realise the inevitable and flee

Look through my posting history its all their from March / april, time

Share price was around 22p and its their in black and white I said 12p would be hit and company was grossly overvalued

I got lauhged at and hounded off here bi likes of haggis and redhornet. 2 absolutely clueless investors

I dont get how you get a 10p to 12p valuation as being fair

Please explain

I have done my analysis and shared many times

The stock is headed for about 7p

This is where fair value lies

BUT

That is until the cash pile starts to dwindle

of course the SP should naturally follow it down

Sales need to pick up and FAST

I remember at over 20p I said this would hit 12p and was laughed at and called a troll by likes of haggis the con man and red hornet

dear oh dear.

Anyway, should be in for a bounce within a week or 2

just dont get carried away as SP will likely drop much lower

Well well well

interesting to see shareholders calling for boredroom changes. This is what is suggested if they get there way

1. Forensically scrutinise the budget, cash flow forecast and cash management process. Costs have clearly been out of control and the company has never hit any public performance target, even ever-changing market expectations. The cash runway must be extended as far as possible to avoid any unnecessary dilution.

2. Actively engage in the negotiation of the proposed CLN to ensure the best possible terms to minimise further dilution or ensure a better alternative is found.

3. Stop the use of market expectations for guidance. A market presentation by the management is urgently required with proper guidance and a detailed explanation of the business model, commercial agreements and key value drivers to allow investors to properly evaluate the company. This would be the start of greatly improved investor communications with much more timely updates and greater frequency of positive news.

4. Based on my own research and conversations I believe that there is a solution to the Azerion legal dispute and a way forward to re-igniting the commercial relationship. I believe that a change of personalities at the board level is crucial for achieving these goals.

5. Insist on board fees in the form of share-based payments rather than cash until the business is cash generative. I believe it is hugely important to show shareholder alignment on the board and highlight my belief in the chronic undervaluation of the company. I would request these non-cash payments to be based on a 2.85p share price i.e. the last placing price and a significant premium to the current share price. I also have a personal shareholding greater than any board member other than James Draper.

6. Review all outstanding options of management and the strategic advisors. It is unclear to shareholders what value the strategic advisors have delivered and how they are being incentivised, but I believe that a review is necessary and public disclosure required for agreements that remain. I also believe that nil cost options with undisclosed performance targets (if there are even targets) are awful. It is crucial that key management are very well incentivised, but I don’t think the current structure is at all optimal for them or shareholders and can be significantly improved.

7. Review the NOMAD and broker relationships to ensure the company and board is receiving the best advice and investor access.

8. Drive a culture of honesty, proactive investor engagement and a core focus of per share intrinsic value.

Bidstack’s shareholders deserve better non-executive directors that are relentless in pursuing per share value creation alongside good governance. The upcoming AGM and announced EGM provide the opportunities to make the changes that are so very desperately needed.

Reads well but will it happen?

Thank you

Can someone please justify AFC's market cap

but without using the word future or potential or any of that waffle

just justify it based on current cash, current sales and projected profits

Hello

Can somebody post the link to the presentation

I would like to watch