|down again, although still looks over-valued to me.
Not sure of their business model is scale-able or viable
£7.8m market cap, 29p, hmmm, bet the shareholders who flogged out to Azini at 52P are breathing a sigh of relief!
perhaps £5m market cap there could be some value here?.....that would be around 20p-ish.|
|£930 worth sold and 2p off the sp, that is the trouble with some of these small illiquid micro caps.
Add in news from ATQT is as rare as hens teeth and it's a bit of a lethal combo!
Wonder if Azini knew those forecasts before they invested?
They surely must have done.
Don't really add up, no longer hold but interested to see how it all pans out here.|
|Heading south again, on those broker forecasts, hardly surprising!|
|Cheers D, look forwards to your thoughts as and when.
Yes, must be something we are missing here, or that ATQT have told Azini but they ain't telling us.|
|TP, thanks for the report.
I agree with what you say above. Their high customer retention rate & ramp up of sales staff should make this an exciting business, so something not quite obvious here.
Still holding these but obviously underwater & may yet sell.
I will post my thoughts once I have scrutinised the report.
have just sent the broker report to you.
Here are the forecast bits for others on the thread
2016: Revenue £3.9m pbt -£1.8m
2017: Revenue £5.2m pbt -£1.0m
2018: Revenue £6.5m pbt -£0.1m
From that it sounds like ATQT will break into profit in 2019. As a reminder the forecasts last Autumn (pre fund raise) were for
2016: Revenue £3.9m pbt £0.5m with eps of 2.2p
It sounds like we are going to have to wait till 2019 to get to that sort of level.
I can well understand the sense in raising cash to push on with expansion and that will result in profitability being deferred, but that profitability should then be greater, otherwise why bother? But this is e commerce we are talking about, you would expect results of a large increase in sales head count to show up as a minimum after one year, how hard can it be to sign folks up?......Forecasts are for a 1% increase in sales this year compared to previous forecast and 4% increase for 2017. Bloomin' marvelous. This business is either not scaleable, or they are experiencing heavy competition or the brokers are indulging in a spot of heavy sandbagging.
This looks like they are having to chuck more sales staff at it just to stand still.
Either that or the brokers are massively understating the case?
I can't believe Azini would come on on the basis of the brokers forecasts, because on that basis, imo, the company is not worth the current £10m let alone the valuation Azini came in at.
All very strange, add in AB's uncommunicative stance (least with me) and its one I'm happy to be out of.|
|TP I'm re-looking at the financials on this company. I find it difficult to believe that they have pushed out break-even so far after recently stating they were only a few quarters away. Also, I would have thought such a major change would have required the support of Azini, which which is possible I suppose, but I would have thought unlikely.
I'd be grateful if you could send me the broker report mentioned above so I have their view (I'll send you a private message with my email).
cheers for your message, have sent brokers note on to you.
sorry, only just noticed your post. I have a copy here, I can email it to you if you leave your e-mail address here, or message me, not sure if you can message as 'black' user?.....|
|TP. Can you please post a link to the broker report mentioned on 10 March?|
|Attraqt is run by Andre Brown, although DW is the chairman. Worth noting that DW and others in his family sold shares in the recent Azini deal, but Andre brown didn't.
Having said that, I don't like Attraqt anymore for following reasons:
1) They made a big play of not needing further cash, then raised. Not the end of the world, ok.
2) The business here simply is not scaleable. They are having to hire a lot of people just to increase sales by a piddly amount but ramping up the overheads. EBITDA break even has been pushed out several years, it is for something like second half 2018.
3)Last thing is company is completely investor unfriendly, the worst I have come across in 20 years of investing.
it's a bargepole job for me, no matter how low the share price falls.|
|The Stigologist 27 Jul'15 - 07:29 - 24 of 195 0 0 edit
wow how incredibly naive and gullible you mug punters are
if Dan was doing so well with POWA why would he bother with ATQT
That article above is clearly a puff piece no doubt placed by his PR
Companies House filings show
Net Worth of MINUS Twenty milllion hxxp://companycheck.co.uk/company/06376989
Various floating charges https://beta.companieshouse.gov.uk/company/06376989/charges|
|i did warn you not to believe wagner
|Just seen the brokers note here, they have pushed out profitability to 2nd half 2018, and they are not making a lot then!
The 'accelerated' sales are something like 1% this year and 3 or 4% next year, which seems pretty pathetic for the increase in sales head-count, which is significant.
Might be of interest two years down the line but I have sold and I can now see reason for share price fall!|
|Tech Market View - 9/3/16:
ATTRAQT growth set to continue
Throughout 2015 UKHotViews chronicled ATTRAQT’s mounting momentum, see here and work back, and certainly this provider of eCommerce site search, visual merchandising and product recommendation technology enjoyed a successful year.
Revenue was up to £2.9m, with recurring revenue now comprising 91% of the total. Gross margin has edged upwards to 84% and EBITDA losses were trimmed to £0.2m. The biggest progress however was in the customer list, 31 were added, taking the total to 110 with some big names including Wilko, Bonmarché, Screwfix and TUMI. The company has expanded in the US with its client list there doubling to 17. The platform has proved resilient in the face of this growth and larger and unpredictable trading volumes and there is a good pipeline of new customers and platform enhancements.
The company’s plans are to build market position in Europe and North America but through a relatively cautious expansion of the sales team, at least in the early stages. 2-3 additional heads in the US and expanding the use of telemarketing is intended to add between 40 and 50 new clients in the current year. Revenue per client will remain a key success criterion and having grown by 24% in 2015 to £31,000, we would expect a further significant growth here as customers with a big on-line presence take advantage of ATTRAQT’s expanding portfolio of services.
After a £3.3m fund-raise in November 2015, the company has £3m of cash to fund this year’s growth. 2016 however will be a year of investment, not of improving profitability. The company’s brokers are forecasting a loss of £1.6m at the EBITDA level. ATTRAQT is proving successful in a potentially lucrative niche. Management is taking a measured approach to building this business and success looks set to continue.|
|sounds like a good person to have on-board
couple of sales today are probably techinvest subscribers as ATQT has fallen past Techinvest stop-loss over the last month|
|a tick up, most welcome.
Results should be soon, going from last years date, looking forwards to hearing of strong progress.|
|Compared to my post 177, I can currently only buy 25k shares max at 51p. What that means is anyone's guess...|
|I wonder whether we might see some director buys after the results, if the share price is still at these levels?|
|I think that basically the real spread is now 47 - 50p but the MMs are publishing a false spread. I can't see how there can have been several large sells and the MMs have taken them onto their books without a buyer?If that's true then at least it means that the 70k sell is now almost bought up?Let's hope so.Results next week possibly.GLA NAI|
|tend to agree cyber, clear as mud.
What is clear is the share price dropped another 4p. Value here, imo, but dodgy markets and an illiquid share mean not too many takers on the buy front right now.|
|Odd... A 10k trade at 50p gone through... and yet I was struggling to get a dummy quote for a 2k sale at 49p today...I wonder whether the 10k trade is actually a buy, taking out more of the big 70k sell last week? And the published spread is completely fictitious, and is really about 47 - 50 for 10k shares?Or maybe the 10k was a fill or kill sell, in which case surely there must be a buyer at say 53p? But that wouldn't tally with me being able to buy plenty at 55p yesterday.All as clear as mud.|
|Yes, I agree Cyber, one would expect the expansion to boost growth rates substantially, otherwise no point doing it!
But there is a lag effect, salaries and office set up costs have to be paid upfront, and income derived from expansion is received on a monthly recurring basis, so will take a while for the expansion to cover costs would be my take.
Nevertheless I would hope to see a useful uplift on the forecast £3.9m revenues for this year. The September note called for £0.5m pbt. My feeling is they would do well to still meet this, given the headcount expansion.
All should be revealed soon!|
|Well I am hoping that the new sales force may help to boost growth rates substantially this year. But maybe you're right and it will be 2017 before it really takes off.In any case, even a £500k profit in 2016 would be a p/e of 24 and a PEG of 0.6.NAI|