Lightwaverf Share Discussion Threads

[clocktower] 03/5/2016 08:49

I think that reply to you shows the arrogance of the company (I assume that was Mike Lord) sinkyj and your timing selling and buying in again seemed impeccable, I assume you also profited from those sales at around 40p.

Thanks for the update though, we will see how it goes from here but in light of what you say it seems to me there is another decent size buyer in the market at around these levels.

I shall wait till they have got their fill that will become apparent on any further weakness.

[sinkyj] 03/5/2016 08:19

GR - It would be interesting and appreciated to know what was said about HomekIt (why it went from early next year to sometime next year), Havells etc. The things that have not been updated in any news so far this year


CT - Not mine, that's something arranged, big sale, big buy. I was building smaller and more frequently to keep a lid on the price. I always fill my TR1's in, but just below a threshold at the moment. I finished for now, waiting for more positive news.

Re: non exec, I think that particular ship may have sailed. I did suggest, over a year ago, that the team was built to the standards of Smartthings, AlertMe so it could be acquired, and also a name for a Non Exec who could add to the board's market knowledge.

To quote exactly "If your views lead you to wish to dispose of your shareholding and you would like the companies help with this please let me know and we will do our best to assist". The share price was then 40p. I took some heed of the device, which was good, because by July we were at placing at 24p. I've bought back at an average of 16p so far.

[clocktower] 29/4/2016 20:38

Nar1 - I second that - GR can you tell us how many attended for example please.

If that was your large buy today sinkyj on top of the many that have been purchased in the previous few weeks you must be near or above 3% - but hey nobody bothers to report and the regulators do nothing about it.

Let me know when you stop buying as I do not want to fight with you and push the share price up next week - as I will start adding to those I bought at 14p on further weakness if your not in the market.

P.S. They could do with you on the board as a non-Exc sinkyj

[nar1] 29/4/2016 19:01

GR- your views on the AGM would be appreciated.

[greenrichard] 29/4/2016 16:43

Based on the posts above - not really any point in posting a report of the AGM

[clocktower] 29/4/2016 15:30

Good luck with the large amounts of stock you have purchased at around or below 14p sinkyj - All your comments are noted.Thanks.

[whoppy] 29/4/2016 15:28

sinkyj, You are 100% correct in what you say.
I bet any reply you get from management (if they reply) will use the excuse of their aim being to create 'longterm value' for shareholders. Of course 'longterm' never comes and is an illusion to make themselves sound like they know what they are doing. It's a way of stringing shareholders along. It's manana manana..

[sinkyj] 29/4/2016 14:30

CT, As I said I agree with you.

I am not angry. I spend most of my time out of the UK, in Silicon Beach as it's known where I founded my latest company or round the corner from Foxconn in China. I am frustrated, that yet again strange announcements with figures and statements that are deliberately un-clear and intent to hide the simple facts, are made. I have written to the chairman requesting clarification on some things stated. It is more a loss of confidence.

For the avoidance of doubt I have picked up a lot more stock at below 14p. I've seen the news that there are plans to "get there", what I don't know is if the execution will be before the money runs out again as we are starting from behind the game now.

They appear to have finally the correct things in planning, Two way Radio, Open system but it's reactive not ahead.

If you look back at this board I have written about what and where the market is for these products. I personally think new leadership from somebody with domain experience would allow the company to get to where it needs to be more quickly and efficiently as they would have knowledge of consumer software design & electronic manufacture. As late as December certain things were promised for the early New Year and are still to be delivered.

They should be able to see though the hype of things like "big data". Google "Most of big data is trash" by the VP of Netflix. At the moment it appears somebody on the board has a link to a technology news feed of 2 years ago.

Even the profit figure you state CT was "manipulated", 2/3 years of backdated tax credit claim were needed to push it into a small profit, along with a large stocking order. Roll on 12 months and the stocking order is being used for a reason that this year doesn't match last year.

What the board should remember is what i was told as a AIM director, take care of the business and the share price will take care of itself. The obfuscation of the facts helps nobody and as whoppy says it is actually counter productive as those with knowledge will find you out and you look suspect.

[clocktower] 29/4/2016 11:54

whoppy, I do not think that will be the case here as the management have put so much of their own money into this - the last amount being Barry Gamble 120k shares at 28p In total how much have the directors sunk personally into this? I doubt if they will want to watch any loan company take it all away and the model they have used is unlikely to become a instant cash cow for anybody else - It either gets taken over with the consent and support of the board at a good premium or will I believe be a successful company in its own rights with a little time.

Remember it was not that long ago it made a profit.

[whoppy] 29/4/2016 11:45

Management will need to raise further funds here as they have burnt through the previous cash. Dilution at a rock bottom share price is what will happen. If management take a loan from Committed Capital then not paying that back will result in administration and the biggest shareholder walking off with the company. Seen it so many times with poorly run companies and shareholders getting shafted by the management. Management trying to hide from shareholders the true position of the company by deliberately fooling shareholders or being slow and witholding news is the sign that a lot is wrong with this company. Only hope is a change in management.

[clocktower] 29/4/2016 11:41

I understand how you must feel about this sinkyj as I expect you are suffering major losses to date, and I agree it is not funny although some find these things amusing - As I made it clear on the thread I took losses in the past with this stock and it seems at this point in time that I may yet do so again, however since I set a marker down and stated I bought in again I have added - clearly to soon again but try hitting the bottom of the market is a hard call to make. However, we may hopefully be near that this time, so rather than cut and run I will sit tight as I really believe in the products and the potential. I do however have a stop loss figure in mind if it were to come to that.

I admit I was not expecting the sales to be as poor as they were but I am looking at the growing order book once again as I believe they are back on the right track having learnt from some of the mistakes made.

The banter is just noise and can be amusing but must be treated as such.

Like GR, I wish you had been there also but I guess your anger might have made you not attend.

[greenrichard] 29/4/2016 11:09

Not got time to add more at this time. However, there should be some newsflow over the next few months that will address and answer some of those points.

You would have been a useful addition at the AGM yesterday and it would have been an invaluable use of your time, particularly the presentation by John Shermer.

[sinkyj] 29/4/2016 11:02

Unfortunately, Ct, I hold a number that can not just be chopped and run.

That's why I find these games, so irritating, otherwise it would be mildly amusing like it is to MM.

I agree with all you say, you are correct, the products are generally well received, except there has a lack of vision and clarity from the current board which means they don't quite fit the market of 2016, we are behind the game.

If the board had decided buildings management was the way to go, then last year, we should have a more professional range of products suitable for commercial users. Products pushed though channel partners, with the margin they need. The software needed to be complex and expensive, so we charge for that and for the platform.

If, however, quality looking domestic products at an affordable price was the choice then simple App, free to use, Open system for third parties to extend. We are nearly there, but at huge cost. Even so the products are old and should have been refreshed with a more professional radio standard in the last few years.

But where we ended up this year, was the with complex software (3 years and xx hundred thousand pounds to develop), free to use, it's in beta on the website. Domestic products for sale in a "bucket shop" like Maplins at the same time, the exact same products trying to be sold to commercial users with domestic quality and no margin for the "Channel".

For what it's worth that's my view. What is needed is a change at the top, to somebody that has vision to look 4 cars ahead, not at the steering wheel because they are unfamiliar with the vehicle they are in.

IFTTT is a great example, it was a very big "thing" 2 years ago, but average people find it complex for home control use, and it has very little use in this area. The top LightwaveRF IFTTT recipe has only been downloaded by 128 users. Nest has a millions of users, the top recipe has 10K users. It's not going to drive sales, it's very much yesterday's solution to a problem nobody really has.

The saving grace is Committed Capital will look after their interests and by proxy, hopefully, the other stake holders. Currently we are again back in the "will they" / "won't they" need more cash to get to where they need to be. That's a very bad place to to be for growing the share value.

[clocktower] 29/4/2016 08:24

Clearly others agreed with your views sinkyj as we have seen further selling since the first upwards bounce yesterday or have you chopped and run over the past couple of days?

I however hold the view that while there have been very serious mistakes made and a lack of transparency and honesty that they foolishly allowed to happen through their own actions or lack of them, the company has now resolved the product issues and are starting to move forward once again. I think they are also putting out the accounts before the end of May to clear the air.

The upside maybe 6/12 months away but the potential is huge imo. Does anyone else have such a value range of products on offer for example? In general they are being well received as well.

I look forward to hearing GreenRichard`s summary of the AGM.

[sinkyj] 28/4/2016 20:14

As we are being presented with H1/H2 revenue figures.....

H1 2013 - 476K
H2 2013 - 576K
H1 2014 - 1670K
H2 2014 - 1370K
H1 2015 - 1516K
H2 2015 - 584K

H1 2016 est - 800K

I'm getting increasingly annoyed with this deliberate obfuscation of the simple facts from shareholders, like we are stupid. The directors know H2 2015 exactly, they therefore know what their H1 estimate is and what that means to shareholders. They know the reason for the H2 2015 disaster.

We've had major share trades without information, profit warnings with only a few months to go that miss full year revenue by almost 1 million pounds on 2million. Results released with days to go. "Order books" that are dated and released as it suits. Percentages thrown in, like for like figures if it looks better. it all smacks of desperation.

[greenrichard] 28/4/2016 17:55

Not got time to write up notes on the AGM as out this evening. I will give a brief summary either later tonight or tomorrow morning. However, I won't be doing a full write up.

I will say that on balance I came away feeling more confident, not racing out to buy more just yet, however, not going to sell either. My personal view is HOLD

[clocktower] 28/4/2016 13:49

History proves otherwise whoppy.

Happy Days.:-) Take a look at FBDU as you may see a lot of movement on that, if you like roller coasters.

[whoppy] 28/4/2016 12:26

The management are not capable of all those things imo.

[clocktower] 28/4/2016 12:22

Gloomy bunch here today - it is all about timing. These systems are only just starting to be installed in numbers but with the likes of Nest & Hive pushing things on the TV, the movement soon starts to grow. Plus one of the most important areas for LWRF is the Licencing Agreements like the ones in place in Oz and India.

From here on I would expect to see a lot more positive news being released in the coming months.

In addition you could see a lot more work coming on the Building Management Solutions on the back of the Warwick figures.

Plus someone could pay a heavy premium for the company - look what Google paid for Nest.

[whoppy] 28/4/2016 11:48

At this rate of progress I can't see the company delivering much more than it is currently. They seem to take so long in doing anything or achieving anything, by which time, they run out of money and aren't making any profit. No doubt there will be lots of talk about what they are going to do but very little to say on what they have done and how it's going to grow the business. They have had long enough. The share price says it all.

[clocktower] 28/4/2016 11:21

CYAN raised new money above its market price at the time - look at the share price now.



What if LWRF was able to do this to speed up the growth of the business?

[alynch] 28/4/2016 10:07

Hi all

I was intending to go to the AGM, but unfortunately can't make it as I have to work today after all. I hope someone else is going and can report back.

One of my questions is the same that slinkyj raised:

"Also, as we are now 9 months from raising a substantial sum of money which was to quote "will be used mainly to accelerate market awareness, product sales and further related technology development". What are the achievements against that promise? What actual steps have been taken to raise awareness with a miliion pounds or more."

Where is this money, that caused the loss of share value by about 70% and almost doubled the share number, where/how is it being used?

[michaelmouse] 28/4/2016 09:44

CT - With respect I don't really care for the opinions of a bunch of anonymous posters on public BBs, so whether you like me or not is an irrelevance.

I don't post much these days. I gave the reasons in my blog. :)

[clocktower] 28/4/2016 09:32

Thats just the sort of question that I think they will enjoying providing a full answer to sinkyj, as I think they have and can address the issue - just taking time to show but that will change in H2 I expect.

"Why doesn't somebody ask the reasons H2 was such a disaster and what has been done to rectify it."

mm - I have no reason to dis-like you if it makes you feel any better.Not seen you on AEO of late?