Belluscura Share Discussion Threads

[hatfullofsky] 14/1/2023 12:58

By 31 December 2022 the Company had shipped or received orders for 2,850 X-PLOR units with 1,226 units being shipped in 2022 (2021: 377). As at the year end, the Adjusted EBITDA(1) loss is anticipated to be in line with market expectations and retained cash balances of $1.8 million,1226 units in 2022 !!!!!

[volsung] 14/1/2023 12:38

I wonder how many have been enriched through oxygen concentrators

[trustedinvestor] 13/1/2023 19:10

Rubbish - you're a deramper.

[danmart2] 13/1/2023 18:05

This has further to fall to find support

[owenski] 13/1/2023 16:49

Unlike you Mas, you're normally spot on with data.

[masurenguy] 13/1/2023 16:29

You're right - my error corrected.

[owenski] 13/1/2023 16:23

The market cap is not £426m, it's currently just under £48m

[masurenguy] 13/1/2023 16:16

Now at an all time low @38p, which is 55% below the last placing @85p just 8 months ago and 15% below the IPO price some 21 months ago. Even at 38p the market cap is £46m so it would appear that the shareprice decline has further to go. Todays share volume is the second largest daily volume over the past 12 months.

[dr biotech] 13/1/2023 14:48

Its been a fairly brutal sell off - most of the damage has been done before today, have to wonder if they have been a bit leaky.

Whilst I'm always interested in what they say, what they achieve is much more important. They said they were going to sell 4000 - at least thats what the brokers initially thought and they were nowhere near. I don't think the company is a complete write off, just as I've mentioned previously (particularly when the enterprise value was £90m) it needed a lot of things to go right to justify its lofty valuation and they haven't.

[trustedinvestor] 13/1/2023 14:13

Belluscura on track for Chinese breakthrough https://www.voxmarkets.co.uk/articles/new-article-a67fd9dVery positive - ignore the naysayers on this board. share price oversold - whoever is selling at less than 40p is guaranteed to make a loss.

[stuffee] 13/1/2023 12:44

Encouraging progress announced today but alarmed by stock increases and cash consequence. I guess Bell needs to raise c $10/15m. Not sure I agree with Maxitrader's optimism above that debt factoring could raise such amount. Maybe the arrangements with InnoMax will solve part of its stock financing.

I guess cash worries will continue to dampen share price until some definite resolution. Bell needs rapid share issue to resolve this uncertainty. Placing of 25m new shares at 40p would probably fix any doubts and encourage more investors. Alternatively might be forced into defensive rights issue of 40m new shares at say 1 for 3 at 25p; this might be unpopular with large individual shareholders. Bell obviously has excellent products with tremendous prospects and I do feel once short term financing fixed, great share price performance likely. To where might the share price climb, if market feels Bell can achieve Dowgate's 2025 forecast $25m pre tax profit?

[owenski] 13/1/2023 12:38

This is still circa 48m valuation by the way, I think that's a lot.

123m shares in issue.

[owenski] 13/1/2023 12:36

I like the company and the product, but they've changed things and that causes concern. They are likely a couple of years off from making money - possibly - that's if the model and sales do work out as predicted.

I don't think they've got enough money and I don't like investing in companies where it's still in VC territory and end up funding a wage bill.

The question one should start with is not share price but market cap - valuation.

Other people can buy cash burning 60 to 70m market cap companies, I'm not.

If this headed down to 20m cap value and needed a 10m raise so a total cap of 30m if one bought at the 20m cap valuation, then I might punt some money as I still think it's a business that will work out and it's still worth something, but it aint worth this much, all IMO.

[74tom] 13/1/2023 12:14

In the AIM sub £100m market cap space PI's primarily buy or sell based on price action, I suspect that plenty had noticed the big drop in the days leading up to the trading update and either sold out or started watching for a trade. When the update landed they thought it was positive (spin job accomplished) and bought expecting a quick rebound. Once the more experienced investors read the update post 9am, they sold out. Now we have 'bottom fishers' taking shares off bigger sellers and WINS have just dropped the bid to 35p (the others will follow on a couple of sells no doubt). Those 10k buys first thing are already nearly 25% down.

Quite what Brummy Git is doing promoting shares like this in the current environment is beyond me. Zero lessons learned from the REVB fiasco.

[mr macgregor] 13/1/2023 10:19

Honestly what kind of cretin buys after that RNS? Have they read it? Cash has collapsed from $11.3m to $1.8m in six months and they’re still burning it. The lacklustre board didn’t raise enough in May at 85p and they’re going to have to come back much lower. I do try to help but some people are beyond it. I guess that’s how we make money on the stock market. DYOR

[danmart2] 13/1/2023 07:56

This is not a good investment based on a lack of sales

Maybe 2023 will be better, it needs to be

[74tom] 13/1/2023 07:53

The forecasts from Dowgate are frankly embarrassing. Originally they had 2022 forecast as 4000 units which they slashed to 2000 in September. In reality they’ve delivered just 1226.

As per Dowgates note today, they made a gross margin of £100k on £1.5m turnover, 2023 forecasts have now been cut from 18k to 12k, however even 12k units only contribute gross profit of £4.9m and an operating loss of ~£5m (vs year end 2022 cash of £1.8m)

Breakeven looks to require sales of ~20-25k units, which based on historic forecasts will take several years longer than expected.

They would be far far better off increasing the price of the device and selling less volume…

Not the worst AIM listing but still a shocker for those in higher up, as I suspect this heading for 10-20p.

[matrixtrader] 13/1/2023 07:50

Invoice financing will be used for funding not the placing that people assumed and led to the retail selling last couple of days - good update and moving toward a very fast growth business with unit salesForecast to teach 60000By 2025 putting the business on a pe of 3 two years out -even half that and appears cheap to me with debt raised against incoming invoices funding the roll out as they launch new products

[brummy_git] 13/1/2023 07:31

2023 is shaping up to be a major turning point for Belluscura, a top notch developer of portable oxygen concentrators. All today's news here

[dr biotech] 13/1/2023 07:26

That’s a bit mixed. Shipped 1226 units over the year which they rather disingenuously compared to 377 from the year before…which was actually only 1Q. Quality seems good. Not the acceleration hoped for. Not a basket case either though.

[masurenguy] 12/1/2023 08:34

Nobody is questioning the quality of the product or its future market potential. The issue in question is the current valuation, which is excessive for an early stage IPO company. Investment is not only about product/service potential or future forecasted financial metrics but also about timing, which is a very critical factor. That is really what is being highlighted in posts #351 - 353 & 355. Just look at the chart over the past 12 months - down by almost 70% - and also the fact that the shareprice is now back to its original IPO @45p some 21 months ago.

[trustedinvestor] 11/1/2023 22:37

Bell will do fine. Their portable oxygen machines are a godsend, lightweight and an opportunity of freedom of movements. Currently the majority of patients have to make do with a very heavy and bulky oxygen cylinder to carry, usually on 2 wheels and they are often housebound. Patience needed - in a few years, share price is expected to be many multiples of what it is now.