Member Info for shandypants2

Yes, another important piece of the jigsaw now in place. Hopefully further progress will be reported ASAP

Agree Lord, good news but not sure how good.

The US order may now replace the 6 figure H2 exclusivity payment we already receive.

450% online increase is great, but from a very low base and how much marketing spend was thrown at it?

The 4 Asia orders are great but as we have seen before it is the repeat orders that bring in the value, these one off ones can be a little misleading.

Time will tell.

IMHO it sounds like a like for like replacement but with better facilities, which will give the company more flexibility and at a lower price.

MO finished the interview by saying it was a good day for shareholders.

BTW in the RNS, below, it states that both Whitechapel and QMB will close - so that's 50 beds.

hVIVO's current Whitechapel and Queen Mary Bioenterprises Centre (QMB) clinics will close in 2024 but will remain fully operational throughout this transition, ensuring uninterrupted service delivery to the Company's clients.

Surprised the SP hasn't started creeping up as we approach delisting.

Seems easy money to me

Yes, very muted response to excellent progress.

I note the broker note says July trading (so Q3) was very good too.

https://www.sharepickers.com/xp-factory-04-08-23/

Must be more concerns regarding funding. As at 31/12/22 there was c£2.5m cash and cash burn for year is c£4m. So without a placing since Nov 2022 (so money received already included in cash figure) it would appear they must be running on fumes.

Never tried some simple short cost saving measures - reduce BOD pay, minimise marketing spend etc

Wow - good spot.

Just googled the article - link below.

Have to say i've been quite impressed with Skinny Tan. BAR has increased it's coverage in a number of supermarkets and some of the smaller Boots are now stocking more lines.

https://www.smartcompany.com.au/finance/mergers-and-acquisitions/aussie-suncare-bondi-sands-acquired-japanese-beauty-giant-kao-group/

Christmas party options at Boom. This would have been almost zero last year so only a couple a day through December would really boost like for like revenues. Most companies i've worked for struggle to know what to do at xmas so offering something a bit different should hopefully appeal

https://boombattlebar.com/uk/london-oxford-street/corporate-events/boom-christmas-parties/

Yes, great progress and strong numbers - if i read it correctly EBITDA is over £5m for 6 months. Conservatively if they deliver similar in the next 6 months that's £10m EBITDA for the full year - at a conservative 5 x EBITDA yardstick that's a valuation of £50m.

Now Boom is really just taking off. Many sites were only open in very late 2022/early 2023 and will take a few months to gain traction. In H2 not only do we have the current summer holidays but also the corporate function market for xmas. I can see really good numbers here - hopefully the train strikes will get sorted soon too.

Looking at my local Manchester Boom it was quite uninspiring in the early days - now weekends are busy all day, which is great to see.

A good interview yesterday on V o x markets too by CEO. Seems very enthusiastic which is always a positive.

I hope you are correct, but 2 quick observations. Companies usually do not wait until the last minute to raise so i would knock 3 months off any estimated date. IMHO that's Feb 2024.

This is clearly a forecast and things change. Post FDA approval year 1 revenue forecasts were very low, however, as yet the income is almost zero. Therefore, this may have an impact on the cash run rate.

Definitely looks like they have starting the process of a placing. Need a partnership IMHO, too small to go it alone

For 30/6 this was on 11th July last year. I suspect the illness that delayed the YE results may have also had an impact here, but it would be good to see the numbers and hopefully see some steady progress.

£3m would be nice - a 20% uplift on last year.

The Q and As are on the last 15 to 20 minutes of the video of the presentation and a broad range were responded to. I'm not aware that they committed to updating those that were not covered in the presentation. You will get a decent flavour just listening to that section on Investor Meets. On the whole i thought Mo was a little waffly in his responses so i didn't learn a great deal i didn't already know.

Smyth - there are a number of different insurance schedules in the US and each has separate rules etc regarding the drugs that it covers.

Accrufer has been added to a number of them, but it can be a slow process. I remember when Accrufer was added by one last year the stipulation was that a salt based alternative must have been tried first (no doubt due to the low cost). So immediately that's a 3 month delay.

We clearly don't have full insurance coverage yet - in 2022 the average price received was $135 per prescription, yet the net price is $250 , so that's c50% getting the drug for cost as their insurance company don't yet cover it.

I'm hoping this can get up to $200 in 2023.

So to say there are no barriers is a little misleading IMHO

Yes it was in Sept last year (for H1) but there was an AGM statement at the end of June to update on progress. Hopefully it will be August this year.

With many Boom bars only opening in late 2022 this will be the 1st period that they will be included so the triple digit growth should continue.

From the YE result in May 2023, see below - Q1 was ahead of management expectations.

Boom franchise sites performing in line with the Board's expectations.

32% LFL sales growth across the Escape Hunt owner operated estate, with overall trading ahead of the Board's expectations in Q1 2023

Just watched the invest meets presentation (was not around at 6 pm yesterday) . On the back of good results it was a nice easy hour for Mo and Steve. We seem to be moving forward steadily and overall i am quite happy with my investment.

In terms of the cash pile (albeit a fair bit of it is advanced payments) when asked in 2 slightly different questions about it i think he gave different response. Initially he said the divi was a one off and they had plans for the money (so good, i think) and then later when he was asked about share buybacks etc he said no plans to but nothing was off the table.

So maybe what he means is they have plans, but as with life nothing is guaranteed.

Have you read the RNS - net debt is now £7m ( was £6.6m 6 months ago)?

Also this statement in the RNS " Financing costs during the Period were higher due to, inter alia, the new subordinated debt facility issued in November 2022 and the higher interest rate environment".

The debt issued in Nov 2022 at over 20% interest needs to be repaid in May 2024 - £3.2m. As at 30/6/23 they have £800k in cash.

Yes it is a fast growing company in a hot sector, but they are not out of the woods yet.

Re xmas trading 2023 i note that RBG mentioned in their RNS yesterday that bookings for this period are up 25% on this time last year, so hopefully Nightcap will have seen a similar increase.

Just need these train strikes to get resolved as that must be hurting, on top of all the other cost of living challenges.

Top line results are excellent, but i'm still a bit confused regarding the cash position. Despite a successful 6 months cash is down and net debt is up.

The company has to repay loans plus interest of over £3m in less than a year from now. Based on these numbers they will struggle. I suspect based on improved trading and better market conditions this will be re-financed rather than repaid.

A decent but not spectacular update. Good to see debt coming down, so cash generative, but this was to be expected as the refurb programme was delayed in H2 following the Peach purchase.

Reading between the lines it looks like Peach is performing well but the core Revolution bars are still struggling.

The outlook for 2024 seems to be less optimistic than previous updates.

IMHO the EBITDA target is misleading. Firstly RBG quote 2 separate EBITDA amounts so that immediately is slightly confusing. Secondly profit is king, so that should be the BODs focus.

Buying Peach on debt at a time when interest rates are going through the roof seems a high risk approach - however, the operating profit can still be reported as healthy but add in the finance costs and suddenly it doesn't look so good.

The CEO, Pitcher, received a salary of over £400k and a bonus of 95% of salary in 2022 (plus loads of share options) so over £750k in total. Amazingly generous for a company that made just £2m profit overall and the share price crashed