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FITB Fitbug

0.1675
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Fitbug LSE:FITB London Ordinary Share GB00B57JBH88 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.1675 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.1675 GBX

Fitbug (FITB) Latest News

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Fitbug (FITB) Top Chat Posts

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Posted at 22/12/2021 09:19 by luckyabbeygale
Don't worry the uks social credit app is the best deal ever for fitbug share holders. You can now get 0 for what is worth 300m dollars.
Posted at 02/5/2017 09:49 by mudbath
The concert party might have "lost" around £10 million keeping FITB afloat,yet they own 49.9% of the equity and will be fully aware of the exceptionally volatile nature of the share price.With their huge combined assets,the garden party could so easily induce the share price to catch fire merely by hinting that they had plans to exert some influence on Fitbug's(KIN)future direction.
With this in mind,it is my opinion that holders could enjoy a very exciting and profitable ride.They could of course see the value reduced to nil.
I very much favour the first scenario,for our "friends" from NW1 will surely wish to recoup at least the value of their investments.

The demand for FITB shares is solid this morning with the MMs bidding above mid price for 10 million shares.
Posted at 03/4/2017 07:52 by cpap man
Fitbug Holdings Plc / Epic: FITB.L / Index: AIM







RNS REGULATORY ANNOUNCEMENT:

Embargoed 7.00am - 3 April 2017



Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).



FITBUG HOLDINGS PLC ('FITBUG' OR 'THE COMPANY')

FINAL RESULTS FOR YEAR ENDED 31 DECEMBER 2016



Fitbug Holdings, the AIM quoted digital wellness technology provider for corporate organisations, announces its results for the year ended 31 December 2016.

Key Highlights

· Revenues for the year ended 31 December 2016 £1,077,000 (31 December 2015: £1,259,000)

· Loss for the year ended 31 December 2016 of £3,536,000 reduced by 42% in comparison with the loss for 2015 of £6,303,000

· Business shifted from retail devices to corporate digital wellness: B2B sales have increased to 82% of the Group's revenues

· Operating costs savings of over 30% compared with aggregate operating costs incurred in 2015

· Recurring service revenues started to accumulate during the year

· Settled litigation with Fitbit

· Successfully raised £2.61m in cash in July 2016

· Converted £8.4m of long term debt into equity in July 2016

· Outsourced development function to access additional talent and other support functions to drive efficiencies

· Since the year end, the Company has raised a further £1m (before expenses) by way of a share placing.

Anna Gudmundson, Chief Executive, commenting on the results, said: "In 2016 we executed the most significant parts of our strategy to turn the business around and to reposition Fitbug as a B2B digital services provider in the corporate wellness industry. In practice, this involved major cost optimisation, as well as a series of restructuring initiatives designed to break from Fitbug's past and allow the business to move forward with speed and focus.

During 2016 we achieved the following main objectives: we proved the opportunity in the corporate wellness market, we reduced long-term debt over the year by a net £6.8m and we raised a total of £2.61m in cash. We also dramatically reduced our losses before tax from £6.3m to £3.5m, we closed down our loss-making retail operations, and we outsourced development to access additional talent and other support functions to drive cost efficiencies. The benefits from the cost savings from the restructuring in 2016 are expected to have a positive impact into the first half of 2017, with the Group making up to 30% savings in personnel costs in comparison with the first half of 2016. As a result of shifting the business from retail devices to corporate digital wellness, 82% of the Group's revenues are now business to business.

We have started 2017 with a strong pipeline of quality prospects. We have also embarked on a direct-to-corporate sales programme. This will allow Fitbug to focus on creating a greater number of good quality business leads both in the short and longer term, and not rely only on our strategic partners."

"We have successfully brought a digital corporate wellness product to market in an extremely short space of time." Gudmundson summarised. "In 2016 the Group rolled it out to paying customers while simultaneously maturing and better refining the proposition to meet market needs."

Donald Stewart, Chairman, said: "While Fitbug's financial performance in 2016 is what might be expected in a year of turnaround and change of commercial direction, our headline results do not betray the amount of activity which has gone into achieving them. Most importantly in 2016 we have witnessed the economic acorn for future growth: the Group's first sight of recurring service revenues. This is the foundation on which the future of the business will be built.

"We are currently experiencing healthy interest in the Group's products with a continuous flow of enquiries and conversations with direct and indirect customers. Many of these customers are household names and the Board is in no doubt that corporate interest in health and wellness is growing. The Directors believe that this is an idea whose time has come.

"The Board remains mindful, as always, that the road to conversion of many of these potential customers from first contact to sales is long. As a result the Group's needs for further development capital, particularly to expand its bandwidth to deal with the many potential opportunities which it is currently experiencing, continue as the sales process continues to develop."

ETC....
Posted at 08/3/2017 09:13 by mudbath
The supposed 0.01pence markdown in the FITB share price this morning only brings the quote more in line with the actual prices offered over recent days.
The MMs though continue to seek large parcels of stock and are currently bidding 0.134 in 10 million..
I would therefore not be surprised if the share price were marked up quite significantly before too long,even though everything might presently look pretty bleak to the casual observer.
Posted at 06/2/2017 15:15 by mudbath
I remain of the opinion that volatility in the FITB share price is finished,at least for a while.
As before the most recent spike,any remaining interest will tend to evaporate causing the share price to perhaps edge downwards into the 0.12/0.15 region.
At those lower levels it should prove rewarding to keep a close eye on the "bid" in the hope that any sudden MM interest in the stock might once again preface the next spike.
Watch out for the concert party,for they have not gone away.

All imo.
Posted at 25/1/2017 12:01 by mudbath
From the date of the 0.25 fundraising through to the flurry of RNSs' , six months elapsed.
During that six months all volatility in the FITB share price evaporated(barring one small temporary blip) whilst the share price was managed downwards by some 40%.In this timeframe it was possible to buy FITB shares in huge size often below bid.For several weeks it remained impossible to sell anywhere near the market quote.
If this scenario is repeated,the share price could retreat in a similar fashion to circa .12 pence.
Posted at 25/1/2017 10:35 by cpap man
No comment [as these are totally private matters] Dusseldorf....except to say that in life it is often what is NOT said that is so very interesting....

You sound a bit p*ssed off that you did not get a call but you can still currently buy FITB sub the placing price which many of us are obviously doing!

Please keep your informative posts coming especially at this low point in terms of the FITB share price and ahead of what in my opinion could be a very bullish period of time!

AIMHO / DYOR
Posted at 22/1/2017 09:35 by phil1969
As has been pointed out recently, on 29th June 2016 it was announced that NW1 and Kifin would convert a total of £8.4m of loans into FITB stock worth just £840,000.

At the same time, the interim CFO took the roll CFO on properly. Just in time to get issued 11m options.

In the RNS, FITB are also keen to point out his experience in Mergers and acquisitions.

"Tyler has worked with the Company as interim CFO since early December 2015. Prior to that Tyler has spent more than 10 years providing mergers and acquisitions advisory, debt placement, management consulting and interim CEO and CFO services to a wide variety of tech, media and electronics businesses."

He has moved back to California and a new CFO put in place who also has experience of M&A after selling 48% of one of his last firms to private equity investors.

Tyler has kept the door open to FITB and it's reported in the RNS "is available on an ad hoc basis". This is unusual if a new experienced CFO is in place so I can only assume Tyler was working on something which is still ongoing.

Since June 29th 2016, there's more to FITB business model than the wellbeing industry.

A merger or RTO is the most logical explanation NW1 and Kifin would convert the outstanding debt at the equivalent share price of 2.5p

Plenty of upside and a buying opportunity at 0.3p if this is the case.

I don't see FITB as a stock I would buy into off the back of its current operations. I view FITB like I do many shells but they also have a business which is currently a drain on cash.
My 9m investment is risk/reward play on a merger or RTO with HPI, NW1, Kifin connections.

I can't see wenesdays RNS and the subsequent ramping (and deramping) as the sole reason for the share price running away. It was an excellent opportunity for those 'in the know' to buy in quantity without being accused of insider trading. They were buying off the back of the 'news' ;-) which would also explain the £107k buy. There is no way that was a sell looking at the timings and price spike.

Large investors who are showing huge losses didn't make their stock available to MM's on the spike. Looking at fridays updated holdings page on the FITB website. No one offloaded into the spike.

A very cleverly timed no news RNS.
You have to ask yourself if the order was delivered late December, why leave it nearly a month to announce.

IMHO
Posted at 18/1/2017 21:42 by trt
The astonishing 500% rise in the share price of Fitbug Holdings PLC (LON:FITB) on Wednesday suggests the market is starting to believe.Before today's announcement of a huge contract win with a global financial services customer to provide "digital wellness" services to some 14,000 employees, the fitness tracking group might well have been thought of as a "me too" company.When one of those companies perceived to be a sector peer is electronics giant Apple, then a bit of doubt is understandable.Throw in a bit of confusion with the similarly named but much, much larger US company, the wearable health and fitness monitoring device maker Fitbit, and reticence to back the new management's focus on business-to-business (B2B) sales is even more understandable, even if the change of direction took it out of direct competition with Apple and Fitbit.Stretch-two-three-four, and pivot-two-three-fourAnna Gudmonson, who took over as chief executive officer in August 2015, said in June that management had "identified an attractive opportunity within the growing B2B corporate wellness market", but investors remained sceptical; the share price drifted lower in the second half of 2016."Corporate budgets for employee wellness are rising, and we have experienced demand for an integrated employee wellness solution," Gudmonson said back in June.It seems few believed her. Well, as the popular football chant (sung to the tune of "(S)he's a jolly good fellow") has it: "now you're gonna believe us, and now you're gonna believe us".Before today's announcement, Fitbug was already being used by global corporations to create a positive culture of health, maximise performance, reduce absenteeism and the risk of chronic illness among employees, and lower insurance premiums.Monitoring the signsInterim results covering the first half of 2016 showed a 52% increase in like-for-like sales in the B2B sector to £562,219, so clearly the new strategy was, as the sales people like to say, "gaining traction".True, the company also made a thumping half-year loss of £1.65mln, but this was about half the loss it suffered in the same period of 2015.Besides, making a loss for technology start-ups is the norm, even for one that helped pioneer the whole fitness-focused wearable technology scene back in 2015.So, perhaps we should have seen this coming.On the other hand, an order for 14,000 devices? That's big, for a company that yesterday was barely worth £2mln.Throw in the recuring revenue from additional services, and by the time of the full-year results for 2017, the company could find itself in rude health.Share John-H.jpgJohn Harrington
Posted at 18/1/2017 12:51 by mr hat
Fitbug shares more than double as it announces new customer win

10:10 18 Jan 2017

The fitness tracking group has inked a deal with a global financial services firm in Asia

Business are starting to take the health of their employees more seriously

Fitbug Holdings PLC’s (LON:FITB) move into the corporate wellness sector is continuing to pay dividends after the group announced a new customer win in Asia.

The unnamed global financial services group – which has around 14,000 employees – will use Fitbug’s digital wellness services to help maximise workforce performance and productivity.

London-based Fitbug has secured a one-year corporate wellness programme deal which includes ongoing service revenue as well as an order for 14,000 devices.

The devices were shipped out last month and the programme is slated to start early this year.

Fitbug is benefitting as businesses start to take the health of their employee’s more seriously in order to reduce absenteeism and risk of chronic illness, as well as to improve employee engagement.

Shares in Fitbug went through the roof on Wednesday morning, up more than 110% at 9am to trade at 0.35p.

Shares were up by almost 150%, or 0.24p, on Wednesday morning and were changing hands at 0.41p a pop.

Not the easiest of rides

Last year was a busy one for Fitbug as it looked to get its finances and operations back on track following a disappointing run during which losses continued to widen.

The company changed tack and started to cut back on its “unsustainable” retail business and focus on opportunities within the corporate wellness sector last summer.

Just before that, it had settled a long-running dispute with fellow health tech group Fitbit (NYSE:FIT) which had been costing hundreds of thousands of pounds in legal fees.

Fitbug, which was established two years before Fitbit in 2005, argued that the similarity of the names created confusion and was damaging to its business and brand identity.

The two settled out of court in a confidential agreement in February 2016.

With a new strategy and freed from the legal issues that had clouded the business, Fitbug set about securing the finances to bring about a new dawn for the company.

Its original founders, David Turner and Allan Fisher, agreed to convert an £8.4mln debt owed by the company to them into shares, while it also raised a further £2.6mln through another share issue.

In its interims back in September, the company posted a loss of more than £1.6mln, although this was around half of the losses accrued in the same period a year earlier.

-- Updates for background info and share price --
[...]
Fitbug share price data is direct from the London Stock Exchange

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