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Eshaitan booking trade debtors as revenue is a standard accounting practice is isn’t potential revenue.

Debtors are revenues recognised but not yet paid for, hence why it is included in potential future cash flow.

Real value driver will be extent to which picks up in next couple of reporting periods.

Bearing in mind low number of people and high margins incremental revenue will drive profitability rapidly.

If valuation criteria can change from times revenue to x times profit will change share price rapidly.

A large dilutive placing at 48% discount to market plus open offers is what has hammered share price

It is always jam tomorrow with Eden. More promises but the only constant is losses and cash burn.

Given the loss for second half circa £800,000 and usual capitalisation of development costs circa £200,000 this company may well need to raise funds before auditors will sign off on going concern statement given that looks out at least 1 year from date of approval of accounts.

The £1.6 billion assets figure your quoting is gross assets before liabilities. Net assets were closer to £900 million. As others have pointed out the company is headed towards insolvency as PWC clearly point out in their interim report and accounts do not include any adjustments if company was not a going concern. In short it is an offer for a legal takeover to rescue the company.

Circa 20% to 25% margins I believe on retail products.

Belgrano its not all 16 countries yet but it is U.K. plus the 4 named overseas territories, Netherlands 164, Ireland 52, Belgium 18 and Sweden 16 so 250 stores outside of according to H&B website. H&B also have several hundred stores in India.

The deal covers more than just UK which is positive. Let’s see how well product actually starts selling.

A positive deal with a well known named brand is another positive.

Align have a note out today tipping Big Dish for any bulls of the stock.

Revenue run rate as in last full year accounts circa £2,000 per month thus the business isn’t scaling up revenue and it will go bust. The number of signed up restaurants is tiny in most locations.

The RNS fudges going concern issue by only looking forward 6 months not 12 months as would be required if auditors had performed a review of interim information which is designed to mislead in my opinion.

Wife on payroll - private companies common, public companies owned by shareholders rare.

I see that John Gunn has got wife on payroll at £12,000 per annum nothing like keeping costs down for private investors.

Also seems to be only 3 employees including the 2 executive directors being John Gunn and his CFO.

Pro tip keep your shares in paper form so you can get some heat when you burn certificates because unlikely to get any heat from boiler imho.

Revenue recognition post IFRS 15 is more conservative than historically. Even some upfront payments may have to be spread as future sales are made depending on facts and circumstances. However cash flows are unchanged. It may mean that Opti has to delay when revenue is recognised as SOH has warned in prior podcast. Still a hold for me. I waiting for operational gearing to kick in over time.

Looks the buyer of almost £100,000 worth of shares was well timed.

I would until next news when full year accounts are published just before year end. That will give you better information including future prospects of the business and update on cash position.

I see this drifting lower as those punters who got burned on the spike take their losses.

Looks like he has called this right so far.

Sharebel
This company came to market in July 2013 and was a reserve acquisition of a business that was promoting essentially the same product and went bust previously. 6 years later the number of shares has increased 6 times and no still sales.

Don’t believe the hype or if you do keep the lube ready because you will shafted regularly on this stock every time they need to raise cash.

The scale of dilution in last two years has been huge.

What is worse they will need to continue to raise cash to fund business until product is built and finalised. Even the annual plc running costs represent a very significant percentage of market capitalisation at present.

The placement and debt conversion tidy up balance sheet for a few months or so before they have to raise more cash probably via another convertible to get auditors to sign off going concern on annual accounts.

A share for the smart traders, rampers and hopeless optimists only. Sadly there is no borrow so you can’t short the stock.

More like cabin crew take your seats for a crash landing.

John Gunn other listed entity Octagonal periodically lends cash to Inspirit

That entity is profitable, cash generative and pays a dividend and holds a chunky stake in INSP so an alternative way of placing a bet on INSP share price.