Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Moniman,
"Sicko will no doubt be crying all the way up to 30p! "
You mean the sp will go higher than the company broker's target?
Obviously you're backing your conviction and loading up at 20p and won't be selling until they by-pass 30p, aren't you?
Or are you just ramping and hoping some gullible readers believe the rampers and buy in and push the sp higher, so you can sell???
Hallsworthy,
" I've pulled out what little I have left and invested it in HVO instead,"
You mean HVO where the CEO was the only BoD awarded a huge 7m options, where there's questionable business model, questionable history.
Best read the company (HVO/ORPH) newsflow there - the red flags are so obvious and it's obviously being pumped.
There's a large number of Shares On Loan.
There were nil shares on loan when MO took over then avg around 11m over the past year. The Shares on Loan dipped for only 1 month just before fy results and then surged after fy results.
Why they surged a few months after MO took over as CEO?
Why they dipped just before last year's results and then surged again post the results?
I think that was because investors didn't get the good results they were hoping for.
Evidence - see for yourselves:
The Shares on Loan, Euroclear, website is free to register or login as guest.
2022
Apr nil
Sep nil
Oct 10904025 1.81%
Dec 11776718 1.95%
2023
Jan 11807363 1.96%
Mar 10343216 1.7%
May 7711945 1.19%
Jun 11313693 1.73%
Aug 10760207 1.65%
https://my.euroclear.com/apps/en/monthly-stock-loan-data.html#month=eq:9&year=eq:2023&limit=0&search=1
Free to register or login as guest
They will be paying for their current premises for several months, whilst setting up the new one. The new one is largely funded by clients, so those clients will have special treatment. What were the terms to gain that funding from clients?
Given the supposedly huge cash pile, why didn't they pay for the new facility themselves and avoid giving some clients preferential treatment?
It'll mean potential new clients will have to wait and potential loss of those clients.
From the company:
"The new facility's first phase is anticipated to reach completion in Q1 2024, with the full site expected to be operational by Q2 2024. 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."
https://polaris.brighterir.com/public/hvivo/news/rns/story/xlkgv3w
Huge 7m options for 1 director!!
"The deemed date of award is 24 February 2022, which is the date Mr Khan was appointed CEO. Under the LTIP, Mr Khan has been awarded 7,227,273 nominal cost long term incentive options (" LTIP Options ") over ordinary shares of GBP0.001 each in the Company."
https://polaris.brighterir.com/public/hvivo/news/rns/story/x21q5mw
I see the MO's, CEO, huge 7m options as a red flag.
I think the nonimal divi, the company is being talked up just before MO can exercise his options. No other BoD was awarded with such huge options. Plus they were backdated a year before they were awarded.
Why do you think his 7m options award was backdated by a year to when he joined and not when they were announced?
What will happen when millions of options are exercised???
Read the company rns
"hVIVO increases its revenue guidance to GBP55 million (excluding other income) for 2023"
https://polaris.brighterir.com/public/hvivo/news/rns/story/x21q5mw
S4 Capital have confirmed what I've been saying for ages.
Ad tech have had challenges going back to 2017, since P&G demanded clarity within the ad tech ecosystem. Ad tech got a boost from covid lockdowns and is now returning to pre-covid challenges.
See my previous posts on the need for ad tech companies to M&A or die.
The latest of last week re MediaMath
Post Sept 10th
https://www.lse.co.uk/profiles/stt1/
Rishi Sunak seems concerned his pledge to tackle the huge NHS waiting lists is in doubt. He'd have to do a lot more to reduce the huge waiting lists.
I expect to see some more plans and money during the Autumn Budget.
Sunak casts doubt on key pledge to cut NHS waiting lists as he continues to blame striking junior doctors
https://www.lbc.co.uk/news/rishi-sunak-doubts-pledge-cut-nhs-waiting-lists/
"As of March 31, 2023, the Company had net cash of $89.1 million"
How does that compare $89m compare to just 3 months earlier, Radium?
It's a massive $25m, over 20%, lower than they had just 3 months earlier.
From the company accounts, with a link to prove it:
" $115.5 million net cash position as of December 31, 2022, alongside remaining $80 million undrawn on the Company's revolving credit facility,"
https://investors.tremorinternational.com/news-releases/news-release-details/tremor-international-q4-and-fy-2022-results
FACT
Radium,
"Firstly, I never read any of stt's clap. I have him filtered here and I scroll past anything and everything he posts elsewhere."
Then how do you know what I'm posting?.
You're doing your usual of pulling the wool over reader's eyes, hoping they don't check anything.
Is it easier to pull the wool over reader's eyes if you silence the messenger and blame them rather than your own stupidity on not seeing the red flags?
Let's take a look at the evidence/facts:
Just a week ago, you were telling posters on TLY that "I'm still at it". How do you know what I'm posting if you got me on filter??? lol
Until 2 weeks ago, I hadn't posted on here for 2 months and Nano for 6 months. In fact my previous post prior to 3rd Sept was 4 weeks earlier. How am I still at it then?lol
Readers can see the evidence - 3rd Sept 13.06 TLY thread.
"Whereas I commiserate with the ordinary Joe invested here, this guy (stt) dedicated a career to damaging the hopes of so many other people invested elsewhere. "
"And, he’s still at it, so no change there. At one stage en-route, he used his full year ISA allowance to buy Totally shares at around 60p/65p and while promoting that purchase he actually posted the details of it on the advfm board at the time. "
https://www.lse.co.uk/profiles/radium1/
Both Trmr and Nano have crashed based on the events I warned about.
Anybody can read my posts. https://www.lse.co.uk/profiles/stt1/
Try and be honest for once.
Radium
"during the 1Q23 Conference Call. Laura Martin…So, you have round numbers, 90 million of cash."
we're approaching end of Q3 (Sept 30th), cash at 1Q23 is 6 months out of date.
Since then one of their partners, MediaMath has gone bankrupt, owing millions to various companies, inc Trmr.
Why not state their cash position at latest published Qtr, Q2 end?
They took out a secured loan of $180m when they bought Amobee a year ago. The mcap has gone down around 50% since.
Are they at risk of breaking banking covenants on that secured loan?
How much of the secured $180m(£145m) loan still outstanding?
It makes more sense to ensure such a huge secured loan isn't outstanding.
Are they at risk of breaking covenants on that secured loan given the market cap has fallen by nearly 50% in 12 months and isn't that much more than the secured loan?
Is it desperate measures to avoid breaking banking covenants?
They paid $239m for Amobee, a company generating ex-TAC approx $150m. They also took out a secured $180m loan, majority of which was used to fund the acquisition.
The company(rthm/blnx) has a long history of acquisitions, which go on to fail and are eventually closed.
"The Acquisition consideration of $239 million, as adjusted, was funded through a combination of existing cash resources, and approximately $100 million from a new $180 million secured credit facility. The new credit facility consists of a $90 million secured Term Loan A drawn at closing, and a $90 million Revolving Credit Facility, of which $10 million was drawn at closing."
"For the twelve months ended June 30, 2022, Amobee generated preliminary unaudited Contribution ex-TAC of approximately $150 million, "
https://investors.tremorinternational.com/news-releases/news-release-details/tremor-international-tremor-announces-closing-amobee-acquisition
Amobee.
Trmr bought Amobee 12 months ago.
They paid $239m for Amobee, a company generating ex-TAC approx $150m. They also took out a secured $180m loan, majority of which was used to fund the acquisition.
The company(rthm/blnx) has a long history of acquisitions, which go on to fail and are eventually closed.
"The Acquisition consideration of $239 million, as adjusted, was funded through a combination of existing cash resources, and approximately $100 million from a new $180 million secured credit facility. The new credit facility consists of a $90 million secured Term Loan A drawn at closing, and a $90 million Revolving Credit Facility, of which $10 million was drawn at closing."
"For the twelve months ended June 30, 2022, Amobee generated preliminary unaudited Contribution ex-TAC of approximately $150 million, "
https://investors.tremorinternational.com/news-releases/news-release-details/tremor-international-tremor-announces-closing-amobee-acquisition
NHS England waiting list hits record high as 7.6m on hold for routine treatment
Both the government and NHS England set the ambition of eliminating all waits of more than 18 months by April this year, excluding exceptionally complex cases or patients who choose to wait longer - and all waits of more than a year by March 2025.
"An estimated 7.68 million people were waiting to start treatment at the end of July, up from 7.57 million in June.
It is the highest number since records began in August 2007 and marks the eighth consecutive month of increases."
https://news.sky.com/story/nhs-england-waiting-list-hits-record-high-as-7-6m-wait-for-routine-treatment-12960965
"And to build these functionalities by yourself, will take you years. "
"we need to plan for the long term"
What have they been doing for the past 10years then, planning for the short term???
The ad tech ecosystem needs fewer DSP/SSP. Individual DSP have worked well because of clarity. Trmr runs both sides of the ad tech, therefore there's a lack of clarity.
FACTS - something you don't like.
The Trade Desk, the biggest DSP.
The Trade Desk (TTD) previously quoted as saying that their one sided approach was the key to its success...other companies have also ditched both sides...
"Many companies that tried to run ad tech businesses on both sides later have sold one side off: Rubicon shut down buy-side platform Chango, with then-CEO Frank Addante admitting the acquisition was a failure. Tremor Video just sold off its buy-side business to focus on the supply side. Amobee sold its sell-side business to focus only on the buy side. The Trade Desk, which has seen its stock skyrocket post-IPO, consistently cites its single-side, agency-focused approach as a key to its success."
https://adexchanger.com/platforms/appnexus-buy-side-falls-wayside/
MediaMath going bankrupt was another shot across the ad tech ecosystem.
Ad tech companies have to M&A or die.
MediaMath went bankrupt only 2 months ago when acquisition talks failed.
https://www.adexchanger.com/online-advertising/mediamath-files-for-bankruptcy-after-acquisition-talks-fall-apart/
Unruly is owed $1.4 million.
Because of the way ad tech companies partner with each other, inventory payments work, the impact on Trmr of MediaMath going bankrupt won't be fully known for several months.
These are the ad tech providers owed more than $1 million:
Magnite: $12.6 million
PubMatic: $10.5 million
Sonobi: $5.3 million
Xandr: $4 million
AdsWizz: $3.4 million
Smart AdServer (now Equativ): $3.4 million
TripleLift: $2.8 million
Azerion Technology: $2.6 million
LiveRamp: $2.3 million
Index Exchange: $2.2 million
OpenX: $1.9 million
Google: $1.7 million
DoubleVerify: $1.5 million
GumGum: $1.4 million
Unruly: $1.4 million
Madhive: $1.3 million
Oracle (Grapeshot): $1.2 million
Yahoo Ad Tech JV: $1.1 million
Yieldlab: $1.1 million
Eyeota: $1.1 million
T-Mobile (PushSpring): $1.05 million
https://www.adexchanger.com/online-advertising/mediamath-owes-more-than-100-million-to-at-least-200-companies-including-magnite-and-pubmatic/
Latest Shares on Loan figures shows they increased to 7m in August.
FACTS:
2 months since results.
1 month since AR published.
No evidence of significant selling by major IIs > 3%.
All AGM resolutions passed. Total votes suggests all major IIs voted for.
Dividend and retain auditor resolutions passed unaminously.
Ex-divi date was last week.
so...
The deramping significantly increased over the past 2 months as well. Lots of misleading posts by derampers but facts don't back up what they have been posting.
Now read below, read 1gw on advfn posts and look at the huge increase in shares on loan? Sounds like exactly what's been going on, doesn't it?
"He then backs up his accountant's acumen with hefty down bets."
https://www.financial-spread-betting.com/Evil-Knievil.html
"'I work on the assumption that I'm intellectually superior to 99 people out of 100 and I'd give the other man a good run for his money,' he says."
"'I think very quickly and carefully. The fools panic and I don't panic.' 'I love a crisis because that's when people are stupid,' he said with a broad grin. The working class are incredibly stupid. You can sell them anything if you appear to sell it sincerely. 'I've always liked fast-moving markets because the fools make more mistakes so I'm able to profit by it.'"
https://www.financial-spread-betting.com/Evil-Knievil.html
Sounds like exactly what's happened recently, doesn't it?
;-)
Shares on Loan were a few.
2022:
Feb 0%
Mar 570200 0.31%
Dec 297157 0.16%
2023:
Jan 4650990 2.54%
Mar 6471111 3.53%
Jul 6775862 3.68%
Aug 7026432 3.81%
https://my.euroclear.com/apps/en/monthly-stock-loan-data.html#month=eq:8&year=eq:2023&limit=28&search=1&order=asc:abbreviation
(Free to register or log in as guest)
MediaMath, a rival DSP, went bankrupt only 2 months ago after their acquisition talks failed.
https://www.adexchanger.com/online-advertising/mediamath-files-for-bankruptcy-after-acquisition-talks-fall-apart/
Unruly is owed $1.4 million.
Because of the way ad tech companies partner with each other and timings for inventory payments work, the impact on Trmr of MediaMath going bankrupt won't be fully known for several months.
These are the ad tech providers owed more than $1 million:
Magnite: $12.6 million
PubMatic: $10.5 million
Sonobi: $5.3 million
Xandr: $4 million
AdsWizz: $3.4 million
Smart AdServer (now Equativ): $3.4 million
TripleLift: $2.8 million
Azerion Technology: $2.6 million
LiveRamp: $2.3 million
Index Exchange: $2.2 million
OpenX: $1.9 million
Google: $1.7 million
DoubleVerify: $1.5 million
GumGum: $1.4 million
Unruly: $1.4 million
Madhive: $1.3 million
Oracle (Grapeshot): $1.2 million
Yahoo Ad Tech JV: $1.1 million
Yieldlab: $1.1 million
Eyeota: $1.1 million
T-Mobile (PushSpring): $1.05 million
https://www.adexchanger.com/online-advertising/mediamath-owes-more-than-100-million-to-at-least-200-companies-including-magnite-and-pubmatic/
Inventory payments within the ad tech ecosystem:
***************************************************
The ad tech model works by DSPs/SSPs, partnering with each other. It is usually the case that the company would pay their 'supplier' (other ad tech companies) around 60 days but receive their cut from 'customers' (other ad tech companies) around 90 days. That gap("inventory payments") has to be covered from their own cash or they setup credit facilities.
"Brands and agencies often pay DSPs on 90-day or even 120-day cycles. But DSPs pay SSPs between 30 to 60 days."
"DSPs shoulder this burden directly because they constantly owe money to inventory suppliers. The Trade Desk took out a $200 million loan in 2017 to preserve liquidity while it bridges inventory payments. MediaMath has raised more than $600 million, including $225 million last year."
https://adexchanger.com/online-advertising/sizmeks-bankruptcy-is-changing-how-the-supply-side-manages-dsp-debts/
As I've said before, Sizmek going bankrupt in 2019 was a wake up call.