Itās some of the management and impatience of ramping investors that are the real joke. That aside they have a good idea and are one of the first to market, just IPOād waaaaaaaaaaaaaay too early and set expectations far too high.
The recent announcements have almost cemented in the Cenkos valuation and people are buying back in through FOMO. I certainly wonāt be buying any more above the 4p mark as imo with too many unknowns still thatās about where itās worth right now 4-6p, unless more news comes to light such as a trading update for 2022.
Iām surprised thereās no mention of how well they have managed the last funding round or how long current funds may last.
Mike Hayes was at SEGA for awhile but had a spotty record with investments (the infamous Colonial Marines was actually syphoned off to make Borderlands 2).
Let us hope the Management have finally got their crap together.
@Kennybobs anything useful on it? News on the next trading update would be good. Ideally something they captures ongoing revenue projections and current cash runway would be good.
Iām still waiting to be accepted for entry to their forum. Iām curious to see if there is anything useful. My main thought is that I want to understand their cash flow / risk of further dilution.
Last year we had fairly regular trading updates. Confirmation of their cut of the $30m minimum advertising spend over 2 years, and if much has happened since the Azerion deal would be very helpful. The last time I wrote to them, I had nothing back from their investor relations.
I might ask them for an update on their cash management post last years funding, and an update on targets set out in their accounts.
Mike Hayes has form from SEGA when he let $20 million go into Randy Pitchfordās hands where they used it to make Borderlands 2 instead of Aliens: Colonal Marines.
Revenue in H1 2022 is double that if 2021 - possibly due to the new 2 year contract that started April 2022.
They have a cash runway at current burn rate of 6 months, but historically revenue has always been second half weighted.
When will we see any benefit from their partnership with Azerion?
Why havenāt directors topped up their holdings?
Why could the top 3 directors accept a 100% increase in their salaries from 150k to 300k, when they have lots of stock options to reward them if things go well.
The broker target is 8p, so why is this pricing at 3p?
The annual accounts mentioned the need for further fundraising re going concern. Why have we seen no update on this?
This share can go one of a few ways. We will all be heavily diluted, go broke, get bought out on a potential drag along clause at our loss, or in the best scenario, rocket.
High risk, high reward.
I think a group of us should try and question Azerion and Bids and see what response we get from any investor relations. Question Azerion in the partnership with a company that needs to fundraise, and question BIdS on an update re going concern statement in the annual accounts.
