Member Info for THGambler

I admire your enthusiasm Bcarm but you can't call Mode 'very solid'....

13-Oct-22 09:37:22 3.10 1,000,000 Unknown* 4.00 4.20 31.00k

1m shares dumped at 3.10

I would take this with a very large pinch of salt. its come from one mindless ramper over there. Don't forget to look at the facts rather than some ramping. MODE making less money than last year, have loads of CLNs outstanding and will need to do another raise soon.

Funny old share this, it seems to move up when there is no ramping done on here, but when the ramping starts the price goes down.

''We were surprised to find out we have invested in another company we did not authorise, hey ho''

Still find it amazing you can buy 1M shares for £200! I remember the good old days when that would cost over a grand!

Yeah i have voted.

As per H1 Presentation:

''In the first half of the year, we cut costs across the board to better focus our financial efforts. We scaled back on our total headcount by 30% in H1 2022, and made plan to optimise administrative cost, which will be reflected in H2 results. Generally cost cutting measures have continued after H1, which helps put us in a better financial position.''

The large reduction in wages was during H1. Lets say the cash burn has reduced from £600k per month (H1 2022) to lets say £500k a month then they will still be needing a raise this side of xmas.

Unfortunately this may be true. The cash burn for H1 was circa £600k a month to 30th June 2022. They also had £2.3m in the bank at this date. If they have the same cash burn since June 30th then another raise is due soon.

To be fair Bcarm if you say this everyday you may be right one day.

Where are the posters who said MODE were on track to double last years revenue?
One poster said the following In July as a prediction of the H1 2022 results:
Cash: 4,155
CLN: 2,000
Receivables as at DEC 31: 1,259
Burn: (£500k a month is generous, likely lower since dramatic reductions) -£3,000
Revenue likely £2,000 (lower than forecasted to be conservative)

Means cash in bank £5,155,000 excluding receivables of 1,259,000.
Mode is not folding in months, Mode has cash for the next 12 months.

Revenue likely to be higher than that given they have had the best months they have ever had since Jan 22. Users have increased = revenue increased.

How wrong was this!!

as demonstrated they won't go bust, stupid comment

last cash balance we know of was £631,000 on 30th June. We will be due a quarterly update next months so will see where the cash balance is then.

ouch. wonder how much they lost on those 100m shares!

BigDave - Agreed! I thought this yesterday, they were blaming inflation, covid, the war in Ukraine as well as interest rates. Most of this came after the accounts period bar covid obviously.

The drop is way overdone. As mentioned yesterday our MCAP is circa £1.3m lower than the value our investments and cash balances WITHOUT SGSC!
To put that in perspective, if MODE, CSFS, MTI, SKL,IGraine and TSP were all written off (total value at time of writing = circa £915k) we would still be valued lower than our investments and cash balances.
Our SP should be 0.04p even without SGSC.
Sentiment is zero hence the SP, the BoD are to blame for this.

Exactly this, any rise in MODE is met with the conversion of CLNs which then beat the SP down. Rinse and repeat.

Even if MODE and CSFS went to zero that would only take circa £75k total off our investment value such is the current deficit on those investment.

As Hereshopin mentioned our Mcap is currently circa £3.5m which is below the value of our investments and cash balances WITHOUT SGSC. The value of our investments and cash without SGSC is circa £4.5m and with it we are at circa £6.8m. Goes to show what the board have done for sentiment!

Fair play Jim, although I think a few already had given up on it, hence why the SP is where it is. I won't sell purely because I don't want to crystalise the loss. I will be holding for years as this isn't going to move anytime soon. Think we will get the point of zero trades in a day once the sell off has finished, as nothing happening here. AGM will be fun though, when the board are hopefully voted out this time.