Member Info for Retireby40

I find it embarrassing when reps of cos can’t even be arsed with their appearance. I mean unless you’re a Creative at least look semi-smart, Jon looks like he’s rolled on from the night before.

Unprofessional which isn’t a surprise.

Exactly. Their shareholders are their objective. It’s up to the gov to legislate which they refused to do when Labour tried. Perhaps now there’s public outcry they’ll put their own legislation forward.

As soon as we left the EU it’s been a race to the bottom on the environment, food standards, animal welfare and employment rights. Good old Tories ‘de-regulating’ or making their mates richer while the masses pay for it.

Anyway, here’s hoping something happens here as I feel GB lost the benefit of the doubt a while ago.

The key for me is cash burn, hopefully there is none or very little.

Kuwaiti gov and other govs. Just google it -

Almost three quarters of England's water industry is currently owned from overseas. At least 71% of shares in England's nine privatised water companies are owned by organisations from overseas including the super-rich, banks, hedge funds, foreign governments and businesses based in tax havens

Those water cos main concern is their shareholders. The gov an absolute disgrace and this is on them.

I understand it’s summer so a quiet time but some chunky contract wins needed in order to realise the income this year. Got the interim on 15 Sept last year so expecting then or sooner.

The regulator is doing what the gov tells them to do.

Our gov is a joke. Remember GB said CR would be signed over a year ago? Surely monitoring all the more urgent.

Really interested to see how much cash has been burnt at the interim report.

How can we fine water co CEOs when our legislation allows for it? Getting the chemicals is also an issue due to Brexit. That said we cleared need tougher legislation (as proposed by Labour) but the water cos will be resistant as it’ll impact their bottom line and they will not want the kind of monitoring we could offer as the data/monitoring would mean even more fines.

Hopefully we can crack other jurisdictions first. We know the EU has a high bar (as we once did) so that’ll make an easier target. Believe we are part of some legislation somewhere too.

The share price stinks. Interested to see what the interim brings and what the cash position and burn is like. GB has been at the co for a good number of years now and still no KPIs although some day he says.

DRB83, if you’re right I’ll be very happy indeed. Here’s hoping.

The 50% increase in admin costs may well be too heavy but from 20-21 they increased from £4.561m to £8.732m.

So while revenue increased by a little over double admin costs weren’t far behind that. Anyway, it’s going to be very tight indeed and given of late we have over promised and under delivered I suspect we will be making another loss.

This is ludicrous.

In 2021 we had total revenue of £9.297m with cost of sales at £3.987m (42.89% margin) and admin expenses a whopping £8.732m and with other income the operating loss was £3.260m but with tax credits (R&D etc) we only lost £2.897m (would have been less but we had finance costs of £420k.

So this year they have had margins have suffered but let’s assume they’re the same.

If turnover is £18m then cost of sales circa £7.72m (42.89% of turnover) and even if we keep admin expenses the same (they will have increased a lot) at £8.732m that’s over £16.5m before we have finance expenses which will be a lot more but the same for the R&D tax rebate. My guess is admin expenses will have increased by at least 50% so now some £13m and we will be again loss making.

How is it the CEO missed 25% of the board meetings? I know the Chairman runs the meeting and leads the BoD but that is a joke.

Surely we will finally receive the data from the US this month? We were told it would be received in the summer months ago.

Chesh, we RNS’d the details of the facility and what the initial drawdown was. I don’t believe we need to RNS any subsequent drawdowns. Maybe GB can clarify. He reads the board and I suspect silence means I am right.

I hope I am wrong and look like a ‘fool’.

As what didn’t happen?!

I didn’t say we wouldn’t pay the initial drawdown back. I simply pointed out we will not get an RNS every time money is draw down. If that is inaccurate I’m sure GB would say so as it’s not material.

I am sure. If we do not pay the balance back within the year they may wish to convert which would trigger an RNS. Simply drawing down funds does not warrant an RNS.

If they decide to exercise the warrants (at 20p) we will also get an RNS.

No RNS is needed if more money is drawn down. Remember we had this facility before (not for so much) and used it and didn’t issue and RNS.

The market cap is roughly the same as cash in the bank end of June. The CEO needs to start delivering. He’s been here 3 years now and has not created any shareholder value.

I’m with you Trotsky, does anyone else know of another CEO that posts so frequently on Twitter? It’s a shocker. Yes use it to update stakeholders but reposting rampy tweets from
Retail investors etc is unprofessional and quite frankly embarrassing.

We need to know if we are cash generative as we don’t know how much we have drawn down. They won’t give a running commentary on it so we know of £4m but could be more. 25% down on revenue so what does that mean for cash generation.

No doubt the interim report next month will pose more questions than answers and there will be a lack of transparency.

The share price says it all.

Surely Point can sign a NDA in order to have access to the data and kick off their own trials?

FYI I have been invested for over 3.5 years and have met Gerry a couple of times (who I found to be friendly/approachable). I really hope we manage to generate cash this year, will be a real turning point and needed for debt deployment. The MWG element could be massive and in the shortish term. Am a little worried about labskin which is why they are not introducing KPIs I suspect.

Potential here is massive but burning cash on things like LFTs is crazy. There’s enough going on and cash needed to fund divisions rather than stuff like that. That concerns me too.

Anyway, a good weekend all.!

The point is if we continue to be loss making paying back expensive debt isn’t easy. That’s clearly what the market thinks hence the drop. GB was pleased we were -£17,000 EBITDA but it’s worth remembering we lost nearly £3m. The silence on labskin is deafening and sticks out like a sore thumb.

I need to complain to the registrar as my votes were not recorded.

We need some of those large pitches to come in and for some of the revenue to be realised this year.