Bidstack (LSE:BIDS) - [Discussion Thread]

Yeah other than double the trade volume which is generally low anyway cant see anything to justify the shift in sentiment/price.

Have there been any surprisingly large single orders?
Just thinking that a single large order could have moved it significantly, it’s a very small market cap.

A fair few around the 100k mark and the highest I found was for 215k shares.

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They added 3 games (and companies) to their customers

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Will we see an AIM investment soon?

Lol. He’s at every corner :stuck_out_tongue:

  • Strong momentum with 14 new games added
  • In March 2021 Verizon Media, a division of Verizon Communications Inc., became the most recent member of our Approved Partner Network for the Nordics and the Netherlands adding invaluable experience and a deeper understanding of two important strategic markets to the Approved Partner Network
  • Bidstack’s integration with a leading DSP in April 2021, will further increase ease of purchase by providing media buyers an increased variety of methods to access in-game inventory across key regions such as North America
  • In April 2021, Bidstack’s brand activations were publicly recognised in the Campaign Media Awards 2021 by winning the Fashion & Beauty category with Publicis’ Starcom UK for Paco Rabanne, which significantly increased its online sales, spontaneous awareness and propensity among young men to see its “Invictus” fragrance as a great gift for men in their early twenties through its in-game campaign
  • Bidstack’s pipeline for further AAA and high-fidelity titles is robust as game developers of all sizes and channels are eager to adopt Bidstack’s offer to deliver quality brand campaigns and provide an additional source of monetisation

And…

  • As set out in the Annual Report and Accounts, the Board expects that revenues for 2021, while materially greater than 2020, will continue to be significantly second half weighted

Anyone had time to mull over the annual accounts. Seems the market is relatively meh on it.

To me this is key:

Going concern
The Group is dependent on further equity fundraising in order to operate as a going concern for at least twelve months from the date of approval of the financial statements. Although the entity has had past success in fundraising and continues to attract interest from investors, making the Board confident that such fundraising will be available to provide the required capital, there can be no guarantee that such fundraising will be available. Accordingly, this constitutes a material uncertainty over going concern.

AKA DILUTION.

Which is then contradicted slightly by:

The Directors have stress tested the Group’s cash projections, which involves preserving cash flows and adopting a policy of minimal cash spending for a period of at least 12 months from the date of approval of these financial statements. The Directors believe the measures they have put in place and will result in sufficient working capital and cash flows to continue in operational existence.

Either way further funding is needed.

I’ve not worked out exactly how much might be needed re potential dilution against current value of the company.

What also appears to be missing is forecasts on when they can expect to break even, or potential revenue this year.

Ideally I would like to see some of the directors release some of their shares(James Draper), to offset dilution for investors, but given the MCAP is 21m and I suspect they need a 3-6m raise(haven’t worked it out), that would more than wipe out his shares.

It looks like 500k of investor funds was used as share payments to directors in the company. I’m not against rewarding staff, but as long as this is put towards incentives to help drive the company forward.

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