Member Info for shandypants2

Unfortunately i think you are right.RM is the market leader so EVERY agent needs to be on their platform. If cost savings are required it's the add on such as OT that will get dropped.

Now that the 5 year lock in has expired it appears all those early adopters are slowly selling their shares, hence the repeated drop.

Such a shame as this is a well run company, has no debts and makes a profit. I first bought this at well over £1. Now 50% of that value and i'm still not inclined to re-invest.

Very disappointing, but not unexpected.

Would hope BOD do buy a few shares, but SOH already owns over 10m shares so can't see him buying more. A small purchase is pointless IMHO. If he is serious it needs to be a million shares minimum (only £60k)

No doubt to satisfy the 'going concern' criteria GB would have been forced to issue the RNS earlier this week regarding the need for funding in Q3 - which we will be in next week.

The caveat that the auditors will no doubt be insisting on is that the requirement for further funding is clearly stated in the accounts.

Therefore, as of now MSYS is not a going concern

Yankee really can't see how you can expect good results.

H1 rev was c£750k so let's say £1.5m for the YE. DVRG owed £1.4m so clearly is the only big client they have. The much touted pipeline is just that.

If your only big client is not paying, which is clearly the case here, you are in massive trouble.

Why do you think the accounts have been delayed? The auditor may have refused to sign them off as a going concern without caveats.

As for GB i suspect he is finished as a director. He clearly lied about revenues and delayed reporting profit warnings before the recent fundraise.

Maybe he knows better - as opposed to 'no'

I don't think the market sensitive rule is as cut and dry as you state, the 10% is very much a guide IMHO.

For example only in Jan this year HVO RNSed a Eur 3.2m contract, so that would completely go against the £5m minimum level for announcement.

The classic was a few years ago when CF announced a eur900k contract whilst also stating that contracts below £1m wouldn't be RNSed.

I suspect if any decent sized contracts were agreed we would know. Let's hope they are like buses and we get a few coming through in a short time period

Yep in April they said results would be released in June. 4 trading days left.

IMHO the lack of news doesn't bode well , however, happy to be proved wrong

What a sh it show.

How GB can still hold any director positions is beyond me.

Pipelines are meaning ATM as the lack of funds means no company will do business with us and even if they did MSYS would need to spend money upfront in order to fulfil the order.

MSYS need funding in Q3 - that starts next week BTW.

Essentially MSYS has one customer, DVRG, and they've gone bust.

As i said back in Jan it looked likely TRU would need further funding and here it is.

On the positive a raise at 65p , only a few % off the current SP, is very good especially in the current climate.

My main concern is whether £8m is enough.

The cashburn has been quite high over the last couple of years and i suspect Playstack will need a fair bit more.

Oxygen and Satago seem really good businesses but are clearly not currently generating enough revenue to cover other costs across the business.

Good coverage - the PR team need to be targeting Mumsnet and other online channels. Mumsnet supposedly has 8m 'members' and is the place to go for all baby talk

Did RBG massively overpay for this?

In the previous year they reported £2.7m profit and RBG paid £16.5m so 6 times profit. As this was before the high energy prices i suspect that profit figure will be difficult to match going forward.

I notice Nightcap recently bought the Dirty Martini chain of bars for only £4.5m and there last reported profit was c£3m.

Now i think the latter was a managed administration of the parent company so this would have impacted the price but the disparity is significant.

Additionally, over half of the Nightcap purchase was done via shares, whereas RBG did it all in debt at a time of rising interest rates.

I thought the placing only 6 months ago at 16p might be the bottom! How low can this go ? This time last year this was over 30p.

Most concerning is there doesn't seem to be any short term big catalyst round the corner to get the SP motoring

This is a great deal but can't see anywhere near £1 profit per test for ABDX. The product retails for £9.99 so take off the VAT and thats c£8.30.

Most retailers will want a 100% gross profit when they buy in bulk so they will be paying £4ish (a fiver tops).

As we are the manufacturer and do not own the patented product i suspect the profit margin will be less than 50p.

Having said that if this is accurate and gets good reviews then a 10% market share seems quite low to me. Also, clearly if successful in the UK this can be rolled out aboard.

Agree re Mo's shares. He received over £2.2k from the recent divi on his 500k shares so the re-investment is c16.9p a share and seems to be an automatic re-investment

Nice!!

Mice steady rise today, hopefully some good news on the way - another tie-up would be nice

It is now over 4 months since the last new contract was RNSed. Mo has done a great job since his appointment as CEO but i notice he was been handsomely remunerated for this - c£500k in 2022 despite only becoming CEO in late Feb that year.

Things seem to have gone quite quiet here, and the YE results and small dividend were a bit of damp squib with the write downs etc.

Hopefully things are happening in the background - the SP has remained reasonably stable which is a good sign

Noticed We Shop all over the Unicef soccer aid event yesterday.

Things seem to be moving here which hopefully could result in BRSD selling a few shares as opposed to discounted placings if/when further money is required.

So vigilant sold for an EBITDA multiple of 9.46.

Croma made EBITDA of just under £0.5m in H1 so if we assume £1m for full year that's a value of £9.46m.

Even if we think that is a bit top heavy so reduced it by c30% that's still almost £7m.

Add in money coming in for Vigilant etc surely this should be lowly valued at £10m min or c70p per share.

Not sure why you think it's odd. Company valued at c£7.5m is selling a legacy division of which the EBITDA is c50% of companies total EBITDA for c£7m.

This will allow Croma to focus on the smaller, but more profitable and growing parts of the business.

The only disappointment is the length of time it will take to get full payment.

However, if there are issues with the loan note these are covered as per the clauses below:

· if the Buyer defaults on the payment of any principal or interest payable under the Loan Notes default interest will accrue at a rate of 4 per cent. above the base interest rate of 4.5 percent. Such interest would accrue from day to day and be compounded quarterly;

· in the event that the Buyer defaults on any one payment due to the Company under the Loan Notes the Company shall have step-in rights to enable the Company to assume control of Vigilant at board and shareholder level.