Big Sofa Technologies Share Discussion Threads

[kemche] 31/1/2018 09:23

pet lover - 31 Aug 2017 - 11:12:02 - 1247 of 1583 Put a ROCKET up your portfolio - Big Sofa Technology - BST
That was what we were told at the AGM.

Thats why this stock will I believe 20 Bag.

[kemche] 31/1/2018 09:19

Fundraise o'clock soon?

Typical WilliamtrollEvenleybless/Tara/Tenbagman/Petlover special.

[barvin] 31/1/2018 09:15

Looks like the sales staff have been La-Z-Boys to me

[failedqs] 31/1/2018 08:54

I got out a few weeks ago, glad I did, though I made a loss of about 40%.
I see this company in a totally different light now, very grateful to be out as it looks though the ramp up to profitability is not happening.

[gheebee] 31/1/2018 08:42

40 Clients yield £1.3m gross revenue so an average of about £30k per Client in 2017.

[albanyvillas] 31/1/2018 08:31

or news like this in 2 months

19 January 2018

RM2 International S.A.

Financial Position Update

RM2 International S.A. ("RM2" or the "Company"), the sustainable pallet innovator, provides the following update on its cash position.

On 1 December 2017, the Company provided estimated information on its expected cash resources position over the following eight weeks. The Company's unrestricted cash position at 31 December 2017 was $4.1 million. After SG&A, one-off costs and production expenses in January 2018 the Company expects its cash balance at the end of January to be approximately $2.0 million. The Company's monthly cash burn rate, excluding production costs and one-off costs, and reflecting cost-cutting measures implemented to date is approximately $1.2 million. The Company has been able to extend its cash resources beyond earlier forecasts by renegotiating its production commitments, delaying the start of production in China, improving payment terms, reducing its running costs and the delayed realization of certain liabilities. The Company remains committed to further reducing its overheads and continues its efforts to monetize certain historical assets where possible.

Taking into account production costs and known one-off costs, based on the information available to it today, the Company currently expects to have sufficient cash to continue operating through the third week of February 2018, although this date could vary depending upon the outcome of ongoing discussions with third parties, including manufacturing partners and alternative sources of financing.

[juzzer100] 31/1/2018 08:26

Assuming gross margins are 50%, that makes gross profit c£650k. Operating costs in 2016 were £4,650k. Doesn't take a maths genius to know what they need to find under the sofa to cover the shortfall... just for this year!Going to need to be some serious growth pdq!

[toffeeman] 31/1/2018 08:24

The Sofa is too heavy for the room

[albanyvillas] 31/1/2018 08:11

going through the floor now

[gheebee] 31/1/2018 08:03

I refer the honourable member to the answer I gave earlier. Eridge Capital has a £675k convertible loan with these people. I believe that may, with hindsight, be seen as having been an error unless another placing is on the way. I truly hope it is and I hope it is deeply discounted and done through the Teathers app.

[pj 1] 31/1/2018 07:59

They lost 4 million in 2016, so a Rev run rate of £1.6m looks fatal to me.

They need to slash costs immediately.

[gheebee] 31/1/2018 07:55

Moronic statements? I think you need to compare and contrast my input with "They have two big contracts coming don't listen to the numpties" and recalibrate your moronometer.

I'm sorry you've been trapped holding these but so have Eridge Capital shareholders and they can't trade out.

[toyin] 31/1/2018 07:48

Gheebee

If you don't like it leave, posting moronic statements just makes you look thick.

[gheebee] 31/1/2018 07:45

Two big con tricks did you say?

[toolsmoker] 31/1/2018 07:41

They have two big contracts coming don't listen to the numpties

[toyin] 31/1/2018 07:38

What do you mean, January sales were a flop?

[gheebee] 31/1/2018 07:38

Growth of revenue may look good but only if you don't mention the exponential growth in costs over the same period. Also, 30% off that Revenue for cost of sales also not mentioned.

[chimers] 31/1/2018 07:36

The January sales were a flop then!! @no numbers

RED FLAG ALERT!!

[opodio] 31/1/2018 07:24

Forgogt to mention the losses today

And also that the cash is run dry


FAIL

[kenbachelor] 30/1/2018 10:25

Colinzeal - Thank you.

[colinzeal] 30/1/2018 10:08

Basis the last RNS there will now be a trading update tomorrow (end of January). They have released news on a Friday in the past so I thought it would happen last week. Some might say leaving it until the very end of the month is a bad sign....we'll see what happens.

[colinzeal] 30/1/2018 10:08

Basis the last RNS there will now be a trading update tomorrow (end of January). They have released news on a Friday in the past so I thought it would happen last week. Some might say leaving it until the very end of the month is a bad sign....we'll see what happens.

[kenbachelor] 30/1/2018 09:27

Colinzeal - Where did you get the idea from that there would be news this morning?