Blinkx Share Discussion Threads

[kendonagasaki] 27/5/2016 14:35

Oil is going up though!

[lance corporal winstanley ash] 27/5/2016 14:21

Adkarma quant cast fallen dramatically

[alex1621] 27/5/2016 13:30

I believe it (impairment) is assessed by business asset, so they will write down even if other assets are not impaired. I don't believe they revalue, so business assets that increase in value are not increased on the balance sheet. You'll find that many high return on equity businesses have 'value' not recorded on the balance sheet.

[1gw] 27/5/2016 10:48

amt - well if you look at the blinkx plc company accounts (last few pages of the annual report) as opposed to the usual "consolidated" accounts, they appear to have written off over 1/2 of the investment in subsidiaries. As I understand it, blinkx is structured as a holding company blinkx plc which holds investments in other holding companies (e.g. RhythmOne (US) Holdings, Inc) and operating subsidiaries (e.g. blinkx UK Ltd, RhythmOne LLC). So the operating subsidiaries can use their own cashflow to fund investments or they can come to the holding company which then raises funds (IPO, placing) or issues shares (share-based payments).

The balance sheet shows that before the write-offs and including FY16 investments blinkx plc had invested about £237m (the parent company accounts are in sterling) in subsidiaries. They recognised an impairment of £129m in the FY16 accounts, leaving them with £110m still recognised on the balance sheet. I think this is saying that the auditors no longer accepted that the subsidiaries are worth the £237m that would have been on the balance sheet and therefore they had to reduce that amount to the £110m now shown, although I don't know what the precise rules for the impairment test are e.g. if one subsidiary is worth more than the investment but another is worth less do they still have to take an impairment on the one worth less?

Interestingly, if you look at the company balance sheet on page 64 of the accounts, post this impairment it shows total asssets of £115m (mainly the £110m invested in subsidiaries). This is above but not a million miles away from the current £90m odd market cap.

[sikhthetech] 27/5/2016 10:11

The 10 things in advertising you need to know today

[sikhthetech] 27/5/2016 10:08

amt,

For years, they were highlighting the 35m videos indexed.... the last time may have been around a couple of yrs ago... need to check rns...

[amt] 26/5/2016 23:48

Regarding write downs. I wonder what happened to all the millions of hours of video they indexed. The last time I recall it was 35m hours about ten years ago. The search engine was so sophisticated it could pick out actors or themes within a video that weren't included in the title. Over the years they must have invested getting towards half a billion including acquisitions, where has all that investment gone?

[geheimnis2] 26/5/2016 21:26

Some great posts here recently and good to hear that high quality posters like stocky as well as cowardly buffoons like loops and quimmer have become markedly more bullish

[geheimnis2] 26/5/2016 21:10

Is it just me or is this about to multibag?

[kendonagasaki] 26/5/2016 16:29

That's what Brian meant about consolidation and only the strongest and cleanest will survive.BLNX may just have the upper edge for once in this quickening that is taking place within this industry.

[kendonagasaki] 26/5/2016 16:19

That a good point Lance.... It's not about being rude, it's all about the crude?

[lance corporal winstanley ash] 26/5/2016 15:07

So if the price of oil continues to rise there is a risk Brian and co might not make it to the Agm? Interesting. I'm surprised STT hasn't already picked up on this. Can you add realtime price of Brent to the header please. This must be monitored closely.

[geheimnis2] 26/5/2016 15:04

could there be a tube strike next Tuesday?

more bad news for BLNX if so, hey johnny boy?

[kendonagasaki] 26/5/2016 14:58

If oil continues to increase then the CEO and executive team will not be able to fill their tanks and get to the office.In fact the whole company is at risk Lance, this is very serious if no one is at work who will run 1R and turn on all those special shiny machines.I'm writing to my local MP and demand a return to $25 a barrel oil ASAP.

[lance corporal winstanley ash] 26/5/2016 13:47

Can anyone confirm if the price of oil will affect the SP?

[lance corporal winstanley ash] 26/5/2016 13:46

Might be 25 by the Agm. Woooohooo

[geheimnis2] 26/5/2016 12:34

hi rocket buffoon

will you be wearing a red nose and oversized shoes?

[rocket fuel] 26/5/2016 11:50

no doubt who the one in the rubber mask will be at the agm.

[lance corporal winstanley ash] 26/5/2016 11:35

Because they probably have mortgages to pay, school fees, fast cars to fill up with gas, expensive sushi to consume at lunch time. Not bothered about buying shares due to extensive options packages etc etc.

[football] 26/5/2016 11:24

LCWA if it is worth a few dollars why isn't the blinkx BoD topping up at these prices?

[lance corporal winstanley ash] 26/5/2016 11:20

9.6b global views in last 30 days. Surely that worth a few dollars in revenue.

[football] 26/5/2016 11:15

JonC as us all on filter but still knows what we are posting about?

[jonc] 26/5/2016 11:12

btw

Has berkshoit been sectioned?

Haven't seen him around for a while.

[jonc] 26/5/2016 11:10

How will we recognise gimpy at the AGM soiree?