RE: Update?8 Nov 2018 09:13
The mood here is so dark that even holders are struggling to engender any defence of this company.
For what it's worth I have conversed with 7dig. Normal reply that "ingestion consolidation' on track, all associated payments made in October. But their own presentations and official news releases stated one platform in October and yet Simon sees no need for a RNS in November.
They need to restore goodwill and quickly. Their PR is absymal and the aloof manner of management incredible, no nod to shareholder value at all.
But irrespective of cost cutting measures there new business wins are just not matching their boasts about how huge the market it, boom times for streaming etc.
The cash burn of 6m in 6 months, money we were told was to strengthen the balance sheet to encourage supply side benefits and attract blue chips all went on redundancies and the integration project.
Please don't use the hashtag exciting times and please don't tweet pictures of your non exec board dressed in Halloween outfits at your board meetings. Not appropriate at this juncture!
Time for 7dig to up its game and start repaying long term supporters who fairly recently 'donated" money at 6.5p a share.
Show us something after 4 years and please don't say the market don't believe in us - of course they don't why should they?
Deliver, deliver, deliver...
Still holding feel there is no choice by the 1.5 will not last long so we need integration news this month