Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
"The Company continues to endeavour to share with investors news of new contracts and renewals, including those of smaller sizes, in order to communicate the ongoing progress being made in re-engaging with current and prospective customers and positioning WANdisco for long-term growth and success." RNS 10th July
On 11 September stated: "H2 2023 Bookings are expected to be in the range of $4.3m to $6.0m." When the bookings come they will have to be spectacular as only $600k have been announced to date this half.
"In the event that there is an announcement by a third party of a firm offer for the Company that the Board has indicated it will recommend, shareholders holding approximately 11.5% of the current issued share capital of Pendragon will cease to be bound by the terms of their irrevocable undertaking to vote in favour of the Lithia Transaction."
That has cheered up a damp Friday afternoon! After what happened last time, tempted to take the 30p in the market!
This board has become civilised with reasonable posts discussing the merits of Wandisco. Well done everyone.
Perhaps -but with only 3 deals announced - one for $7,680 (sic) another -a renewal worth $200,000 over 2 years ($25,000 a quarter) and a $400,000 deal with GM over an unspecified period with only a week to go Q3 results are going to be dire.
Surprised at the jump in the share price - the results were well trailed -they were excellent but actually only as good as expected. Welcome 24% increase in the price since the results Is someone interested in Galliford?
As Juliet said: "What's in a name? That which we call a rose By any other name would smell as sweet"
Last year (2022) Pinewood had turnover of £25.4 with an Gross Profit of £22.7m and overheads of £11.7m of which £4.2m were amortisation (I presume that is the depreciation - the D in EBITDA). so not sure where earnings of £27m for the current year comes from.
It is possible that a SaS tech company would be valued more highly than a car dealer. The EBITDA of Pinewood is expected to be £27m with no pension liability and (I think) no borrowing) - does anyone know what a tech company would be valued at with the prospect of increased US business and this level of current earnings? Whatever the answer the market doesn't seem to be very impressed.
But other shareholders may want more so 51% may not be possible. If the bid fails presumably the price will drop back - if Hedin make an offer will rise! Decisions, decisions.
Does anyone know what percentage the BOD need to issue new shares? It is usually 75% which as Hedin have more than 25% means that the bid cannot go ahead without their support.
Cant find any mention of Hedin's view on this deal. It appears to be worth about 29p (not sure about this though) which is what Hedin bid and said would accept 35p. Perhaps Hedin will bid again.
Presumably those who bought at 50p concerned at the lack of actual contract announcements. We will look silly if 5 contracts announced tomorrow!
As the CFO said in the presentation timing of new contract signings could slip, and cash from them may not arrive until 2024 - Q3 has only 2 weeks left and only 1 contract for $400k (probably over a number of years) has been signed - Needs 15 contacts with cash now to meet the target. They have promised to announce all the contracts even small ones. Not impossible but a big mountain to climb. If Q3 is disappointing price may fall further until more contracts are announced.
Very appropriate new logo for Cirata - a pile of £ notes being blown away!!
'fraid so 87p a month ago - now 55.4p. The market has yet to be convinced, it needs hard facts (sales) not just forecasts.
I admit that I could easily be compared to a rubber necker looking at a crash on the motorway. But have lost money on Wandisco and so think it reasonable to take more than a passing interest in what happens next. MBA students will no doubt have to write case study papers on this company. I have not yet seen anywhere what has happened to the "rogue salesman" - has he/she even been sacked? Has the company pursued him/her for repayment of commissions and bonuses. Have the managers and directors been sanctioned for their failure to spot what was happening under their noses. What about their bonuses?
I think anyone new to this share should be informed about what has happened. I wont be buying at any price until I see evidence of substantial new business .
Biztech says in his video that Wandisco [only]needs $2m a month sales to break even. Sales in the 6 months of H1 were $3. The business needs 5 GM sized contracts every month to hit the $2m figure - which I think is on the low side. if the technology is so wonderful perhaps Wandisco or Cirata should sell it to someone and close the business down before all the cash raised has gone..