Member Info for TT1981

"Cirata boss admits to 'disappointing' figures for 2024 but promises 'growth phase' this year

The boss of a Yorkshire tech firm which was subject to a major fraud scandal has admitted to “disappointing" financial figures for 2024 but pledged the company is moving into a “growth phase” this year"

This is the kicker here... will the market buy into the "promises"...? I have more ammunition ready but am not yet convinced I'm afraid especially due to the inability to forecast.

Sorry to hear that Nebula. Almost everyone in Spratt's telegram group also have very significant losses... including the man himself who is well underwater. Thank you for being open and I wish you the very best in recouping some of that lost money.

It's a very rampy RNS no doubt.

The company have gone backwards in terms of bookings since what they described themselves as a horrible and underperforming year in 2023. So, 2024 was worse than 2023 in terms of new deals despite the new foundations laid, 1 more year of SK's leadership, 1 more year of sales outreach, new partnerships, etc, etc, and yet the total bookings for 2024 was less than 2023.

He deliberately hasn't mentioned deal slippage but it's clear as day there has been approx. 5M worth of slippage due to the revised forecast.

How on earth can that be deemed as positive?!

Fewer bookings in 2024 compared to 2023 despite SK being at the helm for a year longer… ouch…

@Walkley - There will certainly be a very significant gap between what SK promised the market every quarter last year and what the FY results actually are. There has to be more mention of deal slippage which will go down like a lead balloon. The bigger problem for me and what's stopping me from investing further here is that how can we trust any of SK's forecasts for 2025 based on how he misled the market right up until a few weeks before xmas when the forecast was abruptly adjusted.

I expect FY 2024 bookings will come in around $8-10M...

@WOS - Please stop referencing google finance figures, especially before auction has finished after hours. Google just shows the price of a last trade from my understanding.

Actual finish was 1.60 which is still very positive.

ADW and Stock Maiden are my latest to be dumped in the green filter bin. I encourage all other genuine investors to do the same. Don't give the trolls the oxygen they are so desperate for - nobody sane spends significant portions of their time on a BB of stock they have no faith in.

@Master82 - what’s your average out of interest?

As confirmed by the Mongolian Government here: https://montsame.mn/en/read/358806

I wouldn't be surprised to see an after hours RNS...

@Pearls - Those numbers quoted by SK, and surely any other predictions from SK, are now not going to be believed by the market due to him pulling the plug on his yearly target just before the end of 2024... despite misleading everyone for the rest of the year that he was still confident those numbers would be hit.

Hence my suggestion that it will only be multiple new deals (not renewals) that will properly boost the SP back up.

@Doc83 - the latest to be added to the green filter bin. Constant negativity and not so subtle attempts at de- ramping. The volume of which indicates that here simply has to be an ulterior motive.

I would encourage everyone else to put these types

of characters in the green bin as we enter 2025.

Https://x.com/ukinvestormag/status/1873645581060526359?s=46

Those numbers are largely irrelevant because we weren’t producing in any of those years. Likelihood of a huge rerate here once sales agreement RNS is released and the choke is released to increase volume from 200-300 barrels per day (current) to anything up to 800 per day.

Todays Twitter post is a positive indication of imminent news IMO

I see my green boxed stalker has now written a whole thread with my initials in… Jesus… getting very obsessive now.

Still clinging onto the fact that I accidentally wrote “millions” instead of “thousands” in one message… he and plenty of others know I was heavily invested here before selling the vast majority at 0.80 and getting ridiculed by this fella at the time for doing so. It would be funnier if it wasn’t so sad.

Never forget Pratt is very underwater here hence his incessant ramping even when targets aren’t met quarter on quarter / year on year.

Everyone else on this BB seems pretty grown up despite having differing opinions at times. It’s a shame when one idiot ruins it for the rest.

@pointscorer - as mentioned below I’m not planning on buying back in as things stand. I previously sold majority of my holding at 0.80. Why about my comments are negative? I think they are realistic?

@frdickbyrne - I’m not hoping for a further decline or waiting for another entry point at this stage. Just calling it as I see it. 👍🏻

End of year update will unfortunately detail significant missed targets and deal slippage once again. The problem is, 12 months after the last update (with similar negative themes), the market will be less forgiving.

This next update needs to be released asap so that the company can move on and try and build confidence again. The challenge is that any forecasts for 2025 are unlikely to be believed.

New deals (and plenty of them) is the only thing that’s going to turn this ship around.

Good luck all.

What a cowardly conman Roach is. Not even Scrooge would be cold hearted enough to do this on Xmas eve.