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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Arria Nlg Ords | NLG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 9.50 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 9.50 | 9.50 |
| Top Posts |
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Posted at 28/10/2024 21:23 by willowgrouse Sounds a bit like deja vuNew Zealand-registered, US-based AI company Arria NLG has delayed its proposed ASX listing by six months as shareholders still await audited accounts from two years ago.In an update to shareholders this month, Arria said it had hired Australian broker Taylor Collison to run an initial public offer and raise US$25 million ($41.75m) of pre-IPO funding.“While a previous newsletter indicated a listing target for December 2024, the Arria ASX briefing document, which formed the basis for the Taylor Collison mandate, now aims for an IPO before 30 June, 2025, based on feedback from our auditors and advisers,” it said.A pro forma balance sheet provided to shareholders said the company had accounts payable of US$8.4m at September 30 this year and cash of US$582,993.Asked how Arria would pay its creditors and whether it was solvent at balance date, US-based chair and chief executive Sharon Daniels said: “The company is carrying out its plan to retire its payables and is operating.”Thi Sharon Daniels on the investor conference call this month. No accountsA summary profit and loss statement provided to shareholders showed unaudited revenue of US$13.2m for the year to September and earnings before interest, tax, depreciation, and amortisation of minus US$15.5m.Arria is also yet to provide shareholders with audited accounts for the years to September 2022 and 2023.Daniels said it was preparing to complete three years of audited accounts simultaneously “and will present the audited financial statements required by ASX”.Short-ter Sean Drake on the conference call. The other contract was in weapons systems, he said, “where decisions have to be made extremely quickly with multiple weapons systems and multiple targets, where you have to be 100% right. There’s no margin of error when you’re targeting something.“The |
Posted at 28/10/2024 20:37 by dingowatty Arria delays IPO after 'feedback from auditors and advisers'Loss-making Al company says it has a plan to pay creditors and is working on providing audited accounts. New Zealand-registered, US-based Al company Arria NLG has delayed its proposed ASX listing by six months as shareholders still await audited accounts from two years ago. NZ NBR today.... I'm shocked - shocked! |
Posted at 20/8/2024 07:30 by windhill Who exactly is impressed by these patents? Who has valued them? The tech has moved on Kiddo. Patents for lex rules and query forms are pointless in neural network NLG. It's like having patents for steam pumps when the internal combustion engine came along. |
Posted at 05/8/2024 00:00 by willowgrouse New Zealand-registered, US-based artificial intelligence software company Arria NLG has told shareholders it is aiming to float on the ASX in December and raise US$85 million ($143m) to repay debt and fund the business to breakeven.The loss-making company was previously listed on London’s Alternative Investment Market but delisted itself in January 2017 and redomiciled to New Zealand, saying it planned to list on the NZX in 2018.While no NZX listing eventuated, Arria continued to raise money privately and has so far burned through more than US$200m.In an update to shareholders in July, Arria said: “Investor feedback has strongly advised that the Arria board should formulate a full step-by-step listing plan giving a guide to how Arria will 1) fund operations through to breakeven projected for May 2025; 2) retire debt from the balance sheet; and 3) prepare for and complete a public listing as soon as is feasible in light of the rebounding global tech IPO market.”The move comes as the company’s summary unaudited accounts and court filings indicate a severe cash crunch at Arria. Forecast net assets at the September 2024 year end were negative US$72.7m and earnings before interest, tax, depreciation, and amortisation were forecast to be negative US$15.4m.In its shareholder documents, Arria said it had payables debt of US$13.5m and the figure would reach US$20.8m by September.Wage claim Meanwhile, court action taken by former employees in the US has complained of late and unpaid wages. In a letter to a New Jersey court on August 1, counsel for five staff plaintiffs said they had been seeking payment of wages for more than 18 months.“For example, in a wage proceeding before the New Jersey Department of Labor and Workforce Development, Arial NLG and [chair and CEO] Sharon Daniels individually agreed to settle the wage claims brought by plaintiff Scott Moyer, and a judgment for US$63,635.95 was entered in his favor. Nevertheless, defendants have failed and refused to pay the settlement amount and Mr Moyer must now resort to collection proceedings.”T Resurgent market Outlining its initial public offer plans, Arria said the IPO market was resurgent, particularly for companies involved in AI.“Our technology, backed by 44 US [natural language generation]-specific patents, solidifies our competitive edge. With market readiness and our technology and operational preparedness, Arria is poised for robust growth and near-term profitability.” Pizza business Financial information provided to shareholders in the update said a fall in forecast 2024 revenue to US$13.9m from an unaudited figure of US$24.1m in 2023 was due to the loss of contract revenue from Domino’s franchisees.Arria became involved in the Domino’s pizza business through a deal with call centre technology provider Nusutus in 2020. In April 2021, Arria said it had signed up more than 1100 Domino’s franchisees to its Ping automated telephone ordering software, with every 1000 stores representing recurring revenue of US$9.6m a year.Arria said its goal was to sign up 3000 US stores by December 31, 2021, and subsequently roll out sales to Domino’s worldwide.However, in its latest update, Arria said the Arria Nusutus business was unprofitable and was placed in receivership in March this year. In April, the business was transferred to call centre provider ePerformax, which is owed US$20m by Arria.According to the shareholder update, Arria plans to raise US$45m in pre-IPO funding through issuing US$10m of bonds, US$10m of shares, and the exercise of US$25m of existing share options.A further US$40m would be raised at IPO through the conversion of US$38m in previously issued bonds and the issue of US$2m of new shares to the public.Arria said it was forecasting ebitda of US$27.5m by the year to September 2026 and US$72.5m the following year. |
Posted at 28/3/2024 22:38 by willowgrouse Cashflow is clearly tight at AI’s longest startup Arria NLG. The New Zealand-registered company’s main offices are in the US, where court filings last October showed IT supplier Sierra Microproducts was seeking payment of US$87,028 ($145,000) in outstanding invoices. Fast forward to late February and an affidavit from Sierra’s lawyer, Frederick E Gerson Esq, said the parties had agreed Arria would pay the amount in 10 instalments, failing which, Sierra was entitled to judgment for US$120,000. “To date, Arria has missed its first payment,” said the affidavit, and the clock was now ticking on its make-good deadline. Also in February, Arria said investors had completed due diligence on US$100 million of new funding and it was expecting a terms sheet “imminently |
Posted at 16/11/2023 22:50 by windhill Go figure - I have 1.8M Arria NLG share available @0.50 USD. NB last offer price from company at $1.0 USD. |
Posted at 31/7/2023 13:27 by kidknocked Windhill - 21 Oct 2022 - 03:09:23 - 8432 of 8666 Arria - NLGRumor on the street that Arria is out of cash, payroll under threat. Your usual nonsense about payroll and cash blah blah blah. I am not an insider, you know that, stop being a prat. |
Posted at 27/7/2023 15:51 by therealherculepoirot These employee reviews on Glassdoor are telling.hxxps://www.glassdoo Current Employee Severe Ongoing Payment Issues 20 Jun 2023 - Prefer To Remain Anonymous in Toronto, ON Recommend CEO Approval Business Outlook Pros Remote work. Schedule can be flexible. Some of the people here are wonderful to work with! Cons Never ending late pay issues since around August/Sept of last year. In the past 2-3 months we seem to always be 2-3 paycheques behind. Almost 4 at this point. Constant broken promises by the CEO and leadership in terms of when this is going to be resolved. Poor communication from the execs in terms of the resolution of this issue. Advice to Management This company needs some major changes on the executive level. Pay your employees and do what it takes to earn back their trust. 3 people found this review helpful Helpful Share Report Flag as Inappropriate 1.0 ★★★ Former Employee, more than 1 year Not paying staff on time. Pensions are not being paid. 19 Dec 2022 - Software Engineer in Aberdeen, Scotland Pros There were some skilled engineers at the company. Cons I am writing this in the hope that others will not have to go through the same hugely stressful and trying experience. During my time at the company there were three occasions when we were not paid. On the first occasion the delay was 15 days on the second and third occasions it was a whole month overdue. This obviously caused all kinds of havoc for people’s personal lives and is completely unacceptable. Those in positions of authority failed to respond adequately to the crisis. We were repeatedly told we would receive wages by date X only for X to pass and a new date to be proposed, only for that to be missed and so on. The CTO would hold lots of meetings but would not be able to tell us anything concrete because he too seemed to be in the dark. Throughout the crises there was a striking lack of urgency and no real appreciation of the fact that the company was in breach of contract. They attempted to make a gesture of apology by promising everyone a 10% bonus but ironically they were unable to pay this either, at least during the time I was there. It should also be noted that at the time of writing Arria has not paid pension contributions since June 2022. I am still waiting for them to pay my pension contributions into the plan. In my experience, Arria pays significantly less than the market rate for software engineers. |
Posted at 21/7/2023 11:50 by windhill Arria has consistently over-promised and under delivered on its forecast financial performance. We refer you to the forecast financial information issued by the company to date:On or about 16 February 2021, the company provided "revenue target range" information for each 30 September FY as follows:FY ending 30 September 2022: range of USD 32 million to USD 77 million;FY ending 30 September 2023: range of USD 77 million to USD 150 million.[1] Actual revenue for FY ending 30 September 2022: USD 17.79m;Forecast revenue for FY ending 30 September 2023: USD 30.22 million.8 None of the forecasts has been achieved and forecast revenue for FY ending 30 September 2023 was reduced from USD220 million on 29 July 2020 to USD 30.22 million on 5 May 2023.The Board and CEO must take responsibility for this record of persistent under-achievement. [ |
Posted at 22/2/2023 01:25 by willowgrouse Kiwi-born artificial intelligence software company Arria NLG has kicked off a pitch to Australian investors, as it analyses a $US100 million-odd ($140 million) raising to list on the ASX.It is understood Arria NLG (which stands for natural language generation) has hired stockbroker Morgans to tee up the investor meetings and arrange the proposed initial public offering, with a listing pencilled in for coming months. The non-deal roadshow meetings started late last week. In the pitch to fundies seen by Street Talk, Arria said it was targeting its AI and natural language technologies at the banking, financial services, insurance, pharma, fast food and sports industries, among others. It told investors the company had raised $US160 million to date and invested the funds into developing technology and global enterprise infrastructure, including 43 core NLG patents and three platforms. Arria said its top 12 clients could deliver 80 per cent of its revenue in 2022. The clients included big global corporations like Domino’s, Mars, AstraZeneca, UBS and BNY Mellon. Its pitch centred around the automation of work. In a pacey video sent to funds, it gave three examples of how its products were used by clients; turning fund performance data into automated investor reports, having its virtual call centre operator take a pizza order and reading stats and data to generate unique sports content for fans. Each starts with raw data and analysing raw data, and ends with translating insights into language and communicating them to users. Arria is expected to seek to raise about $US75 million primary capital for its initial public offering, with another $US25 million or so selldown by existing investors. The roadshow is slated to continue this week. Arria’s most recent funding round valued it at about $US500 million, investor sources said. Arria CEO Sharon Daniels is spearheading the pitch. She previously co-founded and was an executive director at Diligent Corporation, which listed on the NZX last decade before it was acquired by global VC firm Insight Partners. Diligent’s investors now include Blackstone Tactical Opportunities and Clearlake Capital Group. Should Arria progress its plans, Australian fund managers are expected to compare it to the likes of ASX-listed Appen, which has gone from market darling to fallen angel in the past 12 months, and Brainchip Holdings. |
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