Altitude Share Discussion Threads

[toyin] 17/5/2017 10:12

lowflow

If he thinks its overvalued why is he holding 27%? Your argument does not stack up. If I held 27% of a company and thought it was overvalued I would be getting out!

[adventurous] 17/5/2017 10:10

stephen 1946 -

"Increased profits here are due to tight cost control and is a one off."

Where does it say its a one off?


"That can only mean the figures are dreadful"

I think it means "the engagement of whom is still at a formative stage and too early to provide an indication of representative performance."

"All seeming to confirm this is an idea that has failed"

Where is this ridiculous confirmation? I think you're expecting Jam today for what is a startup project!!!


I'm afraid the pills you have been taking need some adjusting ;-)

[lowflow] 17/5/2017 10:03

toyin,

Varley can participate if he wanted to he can go to 29.99% without triggering a bid.

But he chosen not to, probably because he thinks the stock is overvalued.

[toyin] 17/5/2017 09:50

pmaxwell

Varley cant participate he already owns circ 27% if he did he could trigger a bid.

All the best

[melf] 17/5/2017 09:45

I wouldn't worry too much about MV not participating......he currently has a pretty substantial 27.05% holding as it stands (although this will be diluted after the placing).

It will be interesting to see how much the participating directors cough up in the placing exercise.

[pmaxwell1] 17/5/2017 09:36

I don't see anything good in today's statement. Reading between the lines, take up and revenues appear non-existent. We can be sure that they would have blown their trumpet had there been any meaningful take up. The product does not seem to be working and they are now seemingly tinkering with it to try to gain traction. A major shareholder has sold down at 60p, Varley, the largest shareholder, is not participating in the placement. The placement itself will bring in a few institutions which they will probably point to as a vote of confidence in the venture but it is such a small placement as to be almost irrelevant. However, the potential remains and I will hold the small rump of my shares as a punt akin to the 3pm race at Sandown Park. If I lose the lot such is life...all my opinion, DYOR

[malcolmmm] 17/5/2017 08:41

Once they get the placing overhang out the way we shall see

[malcolmmm] 17/5/2017 08:34

bit like your post

[toyin] 17/5/2017 08:31

Prelims reveal profitability and free cashflow at the successful culmination of two years of restructuring. With a refreshed board adding further experience to the team, the focus on Channl.com has the potential to fundamentally change the landscape of the fragmented promotional product distribution industry and make the online battle for distributors’ market share more even. To exploit the opportunity the group has undertaken a placing at xxp to fund working capital requirements to expand in the $21bn US market by taking smaller distributors and even end users directly online; and to acquire a small, UK-based supplier to facilitate the UK launch of Channl.com to distributors. Target price xxp.
FY16: Gross profit was maintained at £3.5m. Revenue was £4.3m (£4.5m), after the closure of the Canadian operation (£0.1m) in FY15 and £0.1m retreat in the technology and publishing businesses, with visibility into a stable FY18. After two years of restructuring, reduced opex lifted adjusted pre-tax profit into positive territory to £0.2m (FCF: £0.2m) from FY15 £-0.9m (FCF: £-0.9m) as the period of restructuring concluded. Net cash at December was £0.7m.
Opportunity from Channl and recent newsflow: new agreements describe the opportunity for reforming the US promotional product distributor (PPD) market, delivering an easy-to-use platform to enable smaller distributors and resellers to compete online with the larger players in a still fragmented market. Distributors like Market Brands (Buffalo, NY) will facilitate the creation of ultimately hundreds of thousands of “web stores” pre-loaded with logos of small businesses, the target customer, which can then be personalised within the webstore. Resellers can also benefit from the end-to-end nature of the Channl.com platform, with inbuilt print and promotional product suppliers relationships including attractive selling prices and margins. Rapid sign up to the end-to-end platform delivers design, order, supply, delivery, and control free of charge – with Altitude deriving the share of revenue directly from suppliers.
The fund raise, with management participation, will enable acceleration of Channl.com website roll outs, and augment activation and engagement. With US supplier partnership established, the group has acquired a UK supplier to facilitate the launch of UK.Channl.com and supplement UK supply partners.

[malcolmmm] 17/5/2017 08:31

Results look good to me, onwards and upwards

[ihatemms] 17/5/2017 08:26

Good to see the directors participating in the placing - should get details late today or tomorrow.

[stephen1946] 17/5/2017 08:20

Toyin, you invest in this fairytale, and you call me an idiot?

All the best.

[samkhan50] 17/5/2017 08:19

Again.... the shortened version of "you are" is "you're"

[toyin] 17/5/2017 08:16

stephen1946

Yes I can, your an idiot.

All the best

[toyin] 17/5/2017 08:15

Horndean Eagle

Here are a couple, I will leave you to find the rest.

-- 66,000 Channl.com ("Channl") US sites now created for distributors and their customers with user experience and interface significantly enhanced. Product range to be extended in 2017 to include print services in partnership with major US tier one provider

-- On 19 April 2017 we announced a partnership agreement for the supply of print, signage and photo book products with a leading tier one manufacturer in the US, which will naturally complement and expand addition to our current promotional product offering. Details of the provider are commercially sensitive but with a current peak output of 100,000 orders per day and manufacturing efficiency that will allow our resellers to compete on price and service, this agreement has the potential to substantially enhance the Channl offering to distributors, resellers and end user customers.

All the best

[stephen1946] 17/5/2017 08:10

Toyin, can you contribute anything other than, all the best?

All the best.

[horndean eagle] 17/5/2017 08:06

Toyin

I did read the RNS. What am I supposed to have missed?

[lowflow] 17/5/2017 08:00

Quick question why are they acquiring a small business selling promotional products, if Altitude is targeting to become a software/enterprise product company. Pls connect the dots, anyone.

Why is one of the largest shareholders selling out?

[toyin] 17/5/2017 07:59

Horndean Eagle

Did you actually read the RNS?

All the best

[hhdd1] 17/5/2017 07:58

the valuation is not right, how can they ever get to this valuation.
no evidence, lack off information,

[webster32] 17/5/2017 07:57

Looks like Finncap have been busy:

"It is expected that the Bookbuild will be completed today, after which a further announcement will be made."