Member Info for stt1

There's still no rns stating when the results will be...
Last year, the results date rns was released on 31st Oct when they also mentioned the weakness in the sp. The results were on 4th December.

If they leave it another week or so to announce the results date then the results could be in December again.

"The Company notes the recent weakness in its share price and confirms that it is not aware of any developments since the release of its Trading Update on 17th October 2017 that would change the outlook contained in that statement."

https://investor.rhythmone.com/newsroom/2017/10/31/notice-results-oct-2017

"STt you keep on about cash in the TU, but isnt that given in the annual results?"

They have given APPROX cash EXPECTED in previous H1/FyTUs... They could have included an estimate, as they have done so before.

NO Cash mentioned AND CFO leaving...that's 3 CEOs and 2 CFOs in an 18months period... that for me, raises uncertainty... together with their recent warnings over increased costs etc, suggests there could be something untoward...

H1 2018:

"The Company EXPECTS cash on hand and marketable securities to total APPROXIMATELY $37M as at 30 September 2017. "

https://investor.rhythmone.com/newsroom/2017/10/17/h1-2018-trading-update

fy2018 TU:

"The Company EXPECTS net cash on hand to total APPROXIAMATELY $26M as at 31 March 2018. This ESTIMATE includes the impact of the $26M acquisition consideration payment for the YuMe transaction. "

https://investor.rhythmone.com/newsroom/2018/04/19/trading-update-financial-year-2018

H1 2019 TU, from last month, also mentions the risks attached to the forward looking statements

"These and other risk factors are discussed in "Risk Factors" of RhythmOne's Annual Report on Form 20-F filed with the United States Securities and Exchange Commission on July 31, 2018, a copy of which can be found at www.sec.gov."

https://investor.rhythmone.com/newsroom/2018/09/25/directorate-and-management-changes-092518

These risks include those the company has already warned about...

"D. Changes in Internal Control Over Financial Reporting

As a result of material weaknesses related to the ......."

https://www.sec.gov/Archives/edgar/data/1713721/000143774918014094/rhyth20180713_20f.htm

Page 43..

"SIGNIFICANT costs", SUBSTANTIAL MANAGEMENT TIME", "ADVERSELY AFFECT...OPERATING results..IN THE FUTURE."

"The combined company will incur significant costs and devote substantial management time as a result of becoming subject to reporting requirements in the United States, which may adversely affect the operating results of RhythmOne in the future. "

https://www.sec.gov/Archives/edgar/data/1713721/000119312517377843/d399085df4.htm

Read the recent TU..

No mention of cash AND CFO leaving.

The TU reminds everyone of the risks attached to the forward looking statements...

These and other risk factors are discussed in "Risk Factors" of RhythmOne's Annual Report on Form 20-F filed with the United States Securities and Exchange Commission on July 31, 2018, a copy of which can be found at www.sec.gov."

https://investor.rhythmone.com/newsroom/2018/09/25/directorate-and-management-changes-092518

These risks include those the company has already warned about...

The company has warned:
"MATERIAL WEAKNESSES", "SIGNIFICANT" costs, "ADVERSELY AFFECT...OPERATING results..IN THE FUTURE.""

"D. Changes in Internal Control Over Financial Reporting

As a result of material weaknesses related to the ......."

https://www.sec.gov/Archives/edgar/data/1713721/000143774918014094/rhyth20180713_20f.htm

Page 43..

"The combined company will incur significant costs and devote substantial management time as a result of becoming subject to reporting requirements in the United States, which may adversely affect the operating results of RhythmOne in the future. "

https://www.sec.gov/Archives/edgar/data/1713721/000119312517377843/d399085df4.htm

Blacksheep,

"Does anyone know why they are selling?"

The Vocare 12 month lock in period ends this week...
It'll be a good time for the BoD to initiate buy backs...

Pg32

https://www.totallyplc.com/wp-content/uploads/2017/10/171006-Totally-acq-of-Vocare-Admission-Document-FINAL.pdf

The Guardian and Rubicon Project reach settlement over alleged 'hidden fees'...

Guardian Settles Suit Vs Rubicon;

"Rubicon will pay a confidential settlement that is “immaterial to the company from a financial standpoint,” according to the court filing in London. "

https://adexchanger.com/ad-exchange-news/monday-10150218/

Sept Shares on Loan. down slightly on Aug, which could be 'on the expectation' of a decent H1 TU and outlook. It would be interesting to see what they show for Oct, ie after the Sept H1 TU...

avg SoL is still relatively high compared to pre Yume deal being announced..

SoL:

Shares On Loan: since Nov, just before Yume acquisition was completed.
It is still more than double the avg % from last June, after fy 2017 results were announced and pre-BM departure and Yume announcements... and still 4x the avg % following the Perk acquisition...

Nov 3.68m
Dec 3.17m
Jan 2018 3.3m
Feb 3.49m
Mar 2.93m 4.1%
Apr 2.76m 3.79%

fy2018 TU..

May 3.29m 4.47%
June 3.17m 4.29%

fy 2018 results...

July 3.62m 4.89%
Aug 3.53m 4.76%
Sept 3.22m 4.33%

https://www.euroclear.com/en.html

according to The Times, there are/were 3 other winding up petitions against PV subsidiaries, one dating back to 2010!!!

"The subsidiaries Patisserie Valerie Holdings and Stonebeach have faced three other winding-up petitions in the High Court, as well as the one filed by HM Revenue & Customs last month, according to court filings. They include a petition from HMRC, filed in November 2010, that remains “open”, the filings show."

https://www.thetimes.co.uk/article/petitions-served-on-patisserie-valerie-owner-fvqnn2fl8

DrShaggy, "Since then it's gone nowhere apart from down. The hoped-for 'recoveries' have been background noise. This has been taken over by money movers. " Taken over by cheerleaders/traders with the subtle hint of 'this time'.. The share is still a 'show me the money share' as has been for years.. Lack of clarity.. No mention of cash or KPIs in their latest TU..

Malbright, "there are very clear signals of when to sell after a surge following trading updates or results announcements. Usually this is when the price starts to drop from an intra day high and settles a few p below. It is almost assured that every following day/weeks will bring further price falls." Yes, as expected, the sp rises in anticipation of a good TU and then it falls after the company disappoints.. The sp rises pre and falls post TU show traders buy 'on rumour' sell 'on news'... The problem is there's new management who have issued a TU without cash or KPIs.. lack of clarity going forward... They have also changed from 'in line with MARKET consensus' to 'Management'..which is another unknown...

Malbright, "I just don't figure this share. Every single time there is any "positive" update or results release which causes a price rise often of more than 20%, the following weeks always realise a slow retrace back to where we started. " 1R have a history of bullish comments before results but fail to back them up when results announced. Same old story this time..

"To be fair to you (stt1), in line with management forecast does imply to me that it is below market expectations...." Yes, I think rather than report that they were 'below market consensus, the expectation was changed to 'management' Q1 TU 3 months ago vs H1 TU last week.. Q1 TU: Outlook “We are pleased to provide this update on our first quarter trading in FY2019, with revenue and adjusted EBITDA1 performance in line with current MARKET expectations,” said Mark Bonney, CEO of RhythmOne." https://investor.rhythmone.com/newsroom/2018/07/13/first-quarter-trading-update-and-directorate-changes H1 TU..Last week.. " Performance for H1 2019 is expected to be in line with MANAGEMENT expectations https://investor.rhythmone.com/newsroom/2018/09/25/directorate-and-management-changes-092518

Maybe the reason the TU mentioned in line with management forecasts was because the BoD believe market consensus are unrealistic..

Rusty "Their tus to give more than the basic information".. Yes nothing new though...and I think missing out cash situation and KPIs raises more questions than answers.. Lack of clarity.. how much cash have they got??

Tough "Piece of software".. you mean like those click bots... ;-) "I do find 'management expectations' a thoroughly unhelpful and undermining terminology to use..." Exactly..

Rusty, Management forecasts can vary a lot from market consensus... i think they changed to 'management' forecasts as these were lower than the market forecasts... rthm changed their view to report management forecasts not me nor any poster on the BBs.. The company decided not to report cash or KPIs... Read the TU.. No problem if you wish to ignore it or disagree...

In the TU the company mentioned meeting MANAGEMENT expectations and not market.. Fy TU they said in line with market consensus... This TU and Q1 TU they mention MANAGEMENT expectations.. I expect Management expectations are lower... H1 TU: Performance for H1 2019 is expected to be in line with management expectations " https://investor.rhythmone.com/newsroom/2018/09/25/directorate-and-management-changes-092518 Fy TU: We believe we are well-positioned to deliver a further strong performance in FY2019 – fully in line with current consensus estimates in market " https://investor.rhythmone.com/newsroom/2018/04/19/trading-update-financial-year-2018

Tractor, "Annoying slippage." But not unexpected... on day of TU the sp opened at 218p.. after a week it's lower at 215p..

Last TU for 1st qtr 13 July.. the sp opened 186.. Went up for 5 days to 244 high before falling back... https://finance.yahoo.com/quote/RTHM.L/history/ This time TU opened at 218p and sp went up for 2 days to high of 243p and closed on Fri at 222p...4p after 4 days... There was no mention of CASH nor KPIs... Revenues missed forecast followed by broker reducing TP.. Why would they have another TU in couple weeks?

The sp has fallen back as expected.. Neither cash nor KPIs were mentioned in the TU, despite the TU being only 1 week before H1 end... Given revenue comprises of fill rate, volume and price, we don't know which metric is behind the fall in revenue... Lack of clarity...

"The rise in price is and has always been expected in the run up to an update, just as it has before every other update gone by. Once the update does come I fully expect it to drop again "

Yes, and I think the blinkered posters/cheerleaders/traders, were expecting the TU 2nd week of Oct, so giving the sp more time to move higher for them to sell at a decent profit.. The early TU has stumped them...

I'm expecting the sp to fall back, as it has done so after previous TU/results..