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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 05/8/2024 16:38 by dingowatty How much longer are the "investors" going to continue to pour money down this hole? It's laughable. |
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 29/3/2024 16:09 by dingowatty Glassdoor Review (March 8th 2024)Trading Fraudulently Software Test Engineer Current Employee, more than 8 years Aberdeen, Scotland We are writing this not only to make others aware of the dire situation working for arria puts you and your family in but also in hope that someone can help us. For 20 months now all the staff at Arria have not been paid on time. This began in July 2022 - at this time we were just a few weeks behind, whereas now UK staff are 4 months behind in wages while other regions are 5 - 6 months behind. Staff are owe thousands! Some staff are also owe expenses for things they have paid for out of their own pockets in good faith, sales trips, subscriptions etc. There are also missing pension contributions as mentioned by others. In the UK we are 6 months behind in pension payments. Staff members who contribute to their pensions have had money taken from the salaries they have been paid, but the contribution has not been added to their pension accounts. Ie it has been stolen by Arria. Used for what is anyone's guess but not salaries. The reason for this fraudulent behavior - there is no money in the bank account. The hundreds of thousands investors have sunk into the company over the years have been spend on bad decisions made mainly by the CEO. And yet the Arria Board of directors still stand by her! Shows they are corrupt and unfaised by illegal fraudulent behavior too. You can find the names of these board members on the Arria website. For the last 20 months the CEO and Board have been trying "their best" to get investment from anyone they can extort money from. From rich Malaysian business men who don't seem to exist to Australian kids who deal in bit coin! They really have no shame. They probably asked their grandmas too! Funily enough no one has wanted to invest! During this time Arria have continued to rack up the debt. Owing more money than anyone in Arria seems to actually know. The debts owed to vendors is in the tens of millions. Not to mention the fines and legal costs they are incurring. How a company this size and age can get away trading fraudulently for almost two years is a question for HMRC, Companies House and the pension regulator to name a few. They are obviously managing to fly under the radar of the authorities some how. Of course many staff have left - around half and the ones still here are all looking for jobs. Unfortunately it's not easy to find a new job when you have spent 10 years somewhere that has never invested in you. False promises and lies have kept people here a lot longer than they should have. So what now for Arria staff...well if you do what the CEO and the board tell you, you will hang in there a bit longer - with more lies about funding and bridge funding coming any day now (yes the same any day we've had for 20 months). However, the CEO and the CTO don't seem to be struggling like the rest of us! Therefore they don't get it! Empathy is not an Arria thing. Staff can't feed their children, are attending food banks, most of us have had to borrow money from friends and family, and there are the staff who have defaulted on rent and mortgage payments and had to sell homes and cars, but do they care, most definitely not. We are told "payroll is a priority" but this is just not true - there is some money coming into Arria - we have customers, they pay us - we would love to know if payroll were priority where is this money going? Staff (which is ALL staff) are now desperate. And desperate people will do anything. So if you are a employment lawyer, a member of the press or an employer looking for staff who thinks they can help fight for what's right, offer legal advive, offer jobs or just want a juicy story with lots of twists and turns that would be bizarre even on Netflix - contact a member of Arria staff - not one of them have anything left to loose. Arria you have pushed us too far now! |
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 29/12/2023 22:22 by rackersthedon Hahahahahaha keep the comedy coming you loss making clown. I am supporting Arria all the way. Now is their time !Very exciting year ahead for all long term investors, it?s time |
Posted at 12/10/2023 00:15 by windhill October 2023Arria Shareholder UpdateWe hope you all enjoyed the recent Technology Presentation. For those of you who missed the session, you can watch the recording at your convenience. Watch video ?Commercial UpdateThe demand for enterprise-ready Generative AI remains center stage as companies respond to media hype and fast-paced advancements in Language Technologies. This market opportunity offers Arria a platform for growth where accuracy and reliability are of utmost importance when providing Language Automation solutions. Arria's proven success and focus across compliance, risk, regulatory, sustainability and other mission-critical business operational and performance applications fall well within this category. We are already seeing existing clients planning expansion of their use of Arria solutions and aligning to Arria's Generative AI strategy and road map.By way of example, we are pleased to share the email received last week from one of our financial service clients, Wellington Management:Hello Arria Team!Last night we kicked off our first batch of client letters for the Q3 reporting cycle. With this run we mark an important milestone that we have fully transitioned to the Arria platform. I wanted to take the opportunity to thank the team officially for all your hard work in getting us to the point. We couldn't have asked for better partners in this project. The team was always patient and willing to help us. Your responsiveness to every question and problem was top notch.Thank you for helping us every step along the way. Now that the transition is complete, we can start the exciting process of looking for additional areas where Arria can help bring efficiencies to our processes.VP, Client Technology OperationsWellington Management Company LLPEvery enterprise, including Domino's, is exploring how to best incorporate Generative AI into its tech stack. In a recent press release, Domino's and Microsoft announced their collaboration to use Azure and Azure AI tools to help accelerate Domino's modernization and expansion plans. The collaboration focuses on deriving better insights from Domino's data. This presents an opportunity for Arria to extend the scope of its Domino's project beyond Arria's automation of telephone order-taking, which is not affected by the Microsoft-Domino's project - to embrace completing the business intelligence tech stack offered by Microsoft with last-mile reporting in natural language.Our Fortune 100 clients have found that the use of Generative AI to complete the tech stack is essential to profiting from the efficiencies that improvements in data analysis offer. As we further advance our existing Language Platform, one day soon enterprises and their staff, from analysts to agents, will experience the expanded ability to "have a conversation with their data."Funding UpdateArria will resume its growth strategy upon conclusion of the current funding round which remains imminent. The Board is reviewing various funding options with the following global initiatives fully underway:US-Based IP Financing institutional lender are working to present a binding term sheet within 35 to 45 days from time of receiving all required information which is now imminent.New Australia-based group who are seeking to collaborate and invest in a partnership with Arria to address Sustainability and ESG. This group have already received funding for this project. Partnership discussions are underway.Existing Malaysia-based investor who remain committed to fulfilling their investment in Arria with plans to co-create Sustainability and ESG governance solutions.AU-based high net worth individual introduced to Arria through an existing shareholder who is seeking to further his portfolio of investments via Arria.UK-Based family office who have expressed interest in participating in the private offering as outlined below.We engaged with three individual US-Based private equity firms; each are at different stages of due diligence. Institutional funding is a longer process than most and therefore is expected to supplement one of the more near-term funding options.We expect one or more opportunities to close within the next 30-90 days, possibly sooner.Private OfferingTo maintain the Company's progress, we have initiated a special offering which will be available to shareholders for a limited time. This premium offer is a bridge to larger funding now being sought and will close in November.I am pleased to report that our two largest shareholders have agreed to fund US $5 million of this special offer and we have already received the first half ($2.5 million) of this commitment. During this period shareholders will have the same opportunity to invest in this pre-IPO round at the following premium rate:Bond convertible at listing with a cap of USD$1.0010% interest20% discount off listing price upon conversion20% discount off listing price upon conversion becomes 30% with an investment of US $1 million or more in this offer |
Posted at 22/2/2023 08:38 by windhill Wonder what happened to that $25M sell down to current investors? Amusing reading this again a year later. Has the $50M bond closed yet? When's the town hall? Has Daniels been fired for missing targets? Is Kid still on the Meths? |
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. |
Posted at 22/2/2023 00:28 by montynz Does anyone have access to the rest of the text from the AFR article - this is all i can get before the subscriber only kicks inAI software group Arria NLG fronts Aussie funds for float 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. |
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