It's good to see the a bit of a ceanup. FINALLY removed details of people who haven't worked there for over a year. Also a bit of activity on LinkedIn which is good, although someone linking to their staging site which isn't great.
Also incidentally I made a post that companies need to announce material transactions - which has been removed. Which is odd, as that's standard AIM rules that can be looked up.
My point on that is trying to make out that the company is sitting on lots of exciting news and is holding it back is misleading. There may be positive news, and no they don't have to announce all news... but if it's signficant it'll be in an RNS.
It's based upon hype. Nothing more. Based upon absurd comments like doubling revenue from £40m to £80m... just like that! Magic. It's puffery. IDE is not even giving any clear indication on where they see the future of this company, if any. For crying out loud it doesn't even have a CEO.
There is potential growth here... MXC has done it before and the company seems to have stabilised. Cautious optism is welcome.
See if Canoncan will give you 30p for the shares that will allegedly be worth 50p and you'll see the vapour quite quickly!
We're back in EBITDA profit which is good, but still a lot of challenges ahead. adamk87 remains gungho, maybe we can sell all our shares to him for £1 each and that'd be nice. :)
I'm still holding on but as I've said previously it'll be a potentially long slog to get back up there.
I still get an odd vibe. No CEO still. A website that indicates nothing is going on, with contact details for people who left a year ago. It sounds like they're just working on retaining business rather than really getting new names (300k a year cloud contract is all they talk of in apparantly new business and no RNSs). The "new" head of sales, if you do your homework, is the one that departed nine months before!
If this is going to be an ongoing concern, let's hope see more vision/clarity being put out there to customers and to the market.
It's nice to see a bit of pep in the share price today. I'm not geting carried away. I think a bit of a sugar rush today, and it'll drop again a bit after. I thought I bought in at about 20p, but see actually my main purhcase was at 37p! Ouch. I bought in various times on the way down - I still have quite a journey to claw back anything (minimising losses would be enough right now).
I think there's still no CEO. The website is still barren and outdated. There's no buzz about new business. They funded and carved out then the most valuable bit of the company with their top people then re-acquired it elsewhere. It's going to take a while to get a sense of momentum that'll really push the share price up and get a sense that this is an ongoing concern.
Interim results showing a profit would be a good start too.
I know how you feel Rocka999. I have taken an utter beating on this. I won't sell, as no point now... I've had so much value lost I'll hold it out.I bought in at various points too thinking it could go no lower, but yet it did.
I think long term patience is required now.
They seem to be pointing a lot of blame to the old CEO - bad dealer contracts, and it sounds like a lot of investment for deals that went nowhere ultimately. And the whole brand debacle hurt a lot.
Let's look at the positives: MXC and Ian Smith have saved a lot of crisis companies and turned them around, that's what they do. Revenue is good, they just need to get the costs down - which they're working on, and again their forte. They have assembled a lot of their previous known team into IDE. The divestitures will likely be things like their fibre networks. They got out of those markets before, like when Redcentric sold its fibre. It's better in hands of ISPs who can make it more cost effective and it's probably not going to be a core activity. it releases a lot of cash too that's tied up.
Trouble is it'll take at least a year to sort this out and for the cost reduction to wash through, before they even begin to start building the share price. So I think you're looking at a couple of years at least until some growth on the share price.