RE: Not able to scale18 Aug 2021 18:07
The real problem is the fact Paul misled all of us by saying "breakeven" and "had reached "operational profitability" when in fact they hadn't and are still forecast to make a loss this year. They are not even cashflow positive. What he meant was if they take out finance costs, depreciation and tax then they have a made up positive number which means diddly squat.
All the posters that continue to believe the next set of results will be massive are deluded. Real investors have walked (like me). We got lied to. Learn your lesson, don't come back.
Revenue growth was meant to be at least 50% this year. Their own broker thinks it will now be less and another loss before tax for the full year. When Paul says they don't need another equity raise it virtually guarantees they will. Where has the £6m gone? eMusic live has been a disaster, apart from one Alfie Boe concert (which sold 7 tickets to single middle aged ladies) who gives a flying **** about deadbeat artists with 10 followers on twitter.
Invest your money elsewhere guys, you may even make your losses back.