BNN Technology Share Discussion Threads

[wetwestwales] 20/10/2017 17:38

and11 + redhill9: wow, cutting, ouch. But I suppose I should thank you for the advice. Probably the difference here is that I can afford to take a punt without doing the "detailed research". After all, if you are investors, "detailed research" not helped you much has it. Same boat. But I don't need a life jacket. Appears to me from this BB you're knee deep and need hope. And that's deflecting your attention from the problem source. Follow the money. Especially when it's other people's money being played with. And over in China, a long way away and a different set of rules. Then follow the track record. Put the 2 together. Add in a few puffs of smoke. What do you get? A lot of unhappy investors, a 10yr 6* globetrotting CEO who appears to have evaded any form of success, no return, no profit, suspended listing, and a business that has nothing tangible. Ah well, I should have done "detailed research".

[ssc85] 20/10/2017 16:44

Andy I literally addressed that specific point with logical reason, directly to you, about 10 posts ago. Did you choose to ignore?

Edit, PC making a similar point. Everything is speculation but that seems quite possible. We know for sure we need a new CFO, hopefully they use this break to reassess the top level structure and fill in any gaps where someone is overstretched. Much better to have two people excelling at two roles than one person struggling to manage both diligently.

[perfect choice] 20/10/2017 16:40

I have thought about that myself Andy but I am taking the view that while DM may well end up being reinstated back into the CEO role, which would be the case if the accusation is unfounded, this whole event has shown that the CEO role has taken on too much and so the role need to be split.

Basically DM is doing too much himself as CEO and cannot develop a company at the same time developing deals and business relationships in China, which would typically be a role a Sales Director would undertake.

So not the result on the suspension as it cannot be if DM is cleared, you cannot force out a person from the CEO role just like that and DM could insist he stays as CEO as nothing has been proven otherwise. But this event has allowed the company to consider how it should be structured going foreword and the business development role DM has been undertaking really now needs to be separate from the CEO role I feel.

That is my take on it, we shall see what actually comes out.

[highasakite] 20/10/2017 16:30

Quite correct Andy.

[andy] 20/10/2017 16:27

Perfect,

I am confused as to why everyone is saying DM will be moved sideways, yet that there is no case to answer!


If everything is OK, surely he will expect to resume the role he had before the accusation?


I know I would! Wouldn't you?

If someone made a false accusation against me and it was proven to be false, I would expect reinstatement, back pay, and I would sue the person concerned.

[highasakite] 20/10/2017 15:23

Suspension won't be lifted.

[redhill9] 20/10/2017 15:20

As for this comment!

£28m might be in the bank still, but where has it come from,....

Where indeed. Made me smile.

A total of four posts on ADVFN, all of them on this BNN thread and all negative from someone purporting to be a shareholder. Sounds more like someone gearing up for some serious negative nonsense once suspension is lifted.

[perfect choice] 20/10/2017 15:10

Agree and11, dodgy poster alert.

[and11] 20/10/2017 14:32

Wet! If your are an investor which I find highly unlikely from your last post. I would suggest you do a detailed research before investing in anything again, DJI didn’t go belly, & staffing numbers grow as the business has developed from DJI to BNN over the last 10 years...

[highasakite] 20/10/2017 14:25

No investor in the UK should invest in any company with any chinese links. PERIOD.

As I have said previously every Chinese person I know is an outright crook or compulsive gambler or both.

[wetwestwales] 20/10/2017 14:01

Agreed. I should have followed my instinct. China business is completely different to the norm and things can easily get covered up. Perfect territory if so inclined. DJI went belly, BNN miraculously went straight into new business area, 300 staff from nowhere (really!), and "contracts" signed (really?). All the while, big money being lavished, and no-one able to check because it's out in China. And only the CEO (with a less than perfect history) has the connections. Brilliant. £28m might be in the bank still, but where has it come from, how long will it last, and what is the real trading position (if any)? No wonder PwC taking so long.

[perfect choice] 20/10/2017 13:45

Well seeing consistent rumours now and on the basis there are similar snippets of what is happening from other sources outside of this ADVFN BB (including those who I know in the past have links into the company), I believe what is posted today is close to what "should" be announced shortly.

The source of this information I believe is from contacts in IIs who have been briefed by BNN on progress, or people who were aware what was discussed.

Nothing is official of course which means anything stated doesn't mean it will actually happen. So for those who want absolute confirmation, then you can discount such snippets until the official RNS is issued.

But from everything gained, the most likely outcome now being seen is:

1. The accusation will not be confirmed and both Wei Qi and DM will be reinstated into their roles. Will there be any come back on Scott Kennedy as a result? - no idea, doubt anything will be pursued. I have a suspicion that PwC may find procedural anomalies requiring correction on the basis Scott would have not been that crazy to have made an accusation purely for spite. he may have fallen out with the rest of the execs but don't think he would have been that stupid surely if the outcome of the accusation is rejected.

2. Management will be restructured and strengthened. Wei Qi will retain COO role but CEO role will be strengthened with DM moving into a new business development role

3. Expect new CFO will be appointed and this is holding up removing the suspension now (assuming PwC have completed their work - I still think this was a "one subject" accusation IMHO). Potential for new CEO which Harry is ideally placed to provide advice on, but feel this would take longer so DM initially reinstated as CEO until replacement appointed. I take the view that this suspension has demonstrated the company needs to restructure its management team (but of an understatement that I feel!)

4. Trading statement will be issued with RNS announcing PWC findings, management changes and removal of suspension. Will state health and progress with all initiatives. Expect Q3 to be broadly flat with some revenue growth, rollout of new initiates delayed but to accelerate now in Q4. I now give 2017 FYE of £15-20M at most, as running out of months for any higher revenues for 2017 accounts (the impact of delay was actually mentioned in the interims). I am still suspicious of that new Telco deal and why no specific mention I the Interims RNS but will wait to see what is said.

So my take on where things are and before anybody asks I do not have absolute confirmation of any of the above so you can completely discount it is you wish. But the fact that several independent sources have stated similar onions is more than coincidence IMHO (unless it was the same II source talking cr*p!), certainly not fake news to quote but informed speculation is probably where we are right now until real RNS is issued.

[pj 1] 20/10/2017 13:33

turneyduff
20 Oct '17 - 08:27 - 8008 of 8023    1   0
Have spoken to a couple of larger holding PI's this last week and feeling a lot more positive about this indications are that investigation hasn't turned anything up and Chinese CEO will return to his role within next week or so and new cfo Not far behind,DM likely to chanhe roles and no indication of current state, trading or deals. Admittedly one of the same people that originally tipped me on this where to date I have lost over half my investment so taken with a pinch of salt but consensus is there is legs in this yet.

newbie17
20 Oct '17 - 11:18 - 8016 of 8023    1   0
My inside info is exactly the same as Turneyduff. A pinch of salt for me too for the same reasons. This type of info doesn't seem to be that welcome on this board but I think it's worth mentioning.

================================================================================
I'd say the only source of info you have is each other. And its more totally fake News

[nohead] 20/10/2017 13:15

It has actually now been six weeks since PwC were appointed.

[ssc85] 20/10/2017 11:56

Andy: "Ask your sources, if DM has done nothing wrong, why is he supposedly "going to be moved to another position"?"

My assumption based on what I was told back at time of suspension and general gut feeling is that he'll be moved into a role which acknowledges his core value to the business. He is the man who needs to fly around shaking hands, maintaining and building his network of relationships.

It maybe that the growth of BNN from a simple lottery based company to a business with a wide network of business interests in a variety of sectors requires a new top manager, someone far more focussed on the running of the business. If DM cant do both now it would make sense to let him carry on managing the relationships he's built in a new position whilst someone else comes in to oversee the day to day goings on.

Again just my take/assumption.

[redhill9] 20/10/2017 11:50

newbie1720 Oct '17 - 11:18 - 8016 of 8018 0 0
My inside info is exactly the same as Turneyduff. A pinch of salt for me too for the same reasons. This type of info doesn't seem to be that welcome on this board but I think it's worth mentioning.

First Rule of Investment Bulletin Boards: Never believe anyone who claims to have inside information, because they don't.

It's amazing how many posters on here over the past year claim to have contacts or sources with inside information and yet to date no one has revealed anything that has been remotely correct.

It's all been either fiction designed to influence the share price, or guesswork designed to make the poster look "good" if they happen to guess correctly.

[highasakite] 20/10/2017 11:48

my hot inside info Andy is that this aint coming back anytime soon if at all.

As I have said many many times never invest in any company with any links to China.

[newmanontheblock] 20/10/2017 11:40

Andy, I agree with you on your comment about the length of time this is taking. Feel like we have been dreading water for far too long without any sort of update. The water is cold, and I am fed up. Waiting for news whether the rescue boat is on its way or whether it will never arrive and I will drown!!

[andy] 20/10/2017 11:35

ndwbie17,


But what is the source of the info? Other PI's?

where do they get it from? A BB rumour by any chance?


Seriously, genuine information is always welcome, but people posting up 'information' that coincides with peoples' hopes without a source is always going to be questioned, and rightly so too.


Ask your sources, if DM has done nothing wrong, why is he supposedly "going to be moved to another position"?


If the CFO has made false allegations, I would think there will be some kind of legal action to follow, don't you think?


I'm surprised at the length of time this is taking if all is well, aen't you?

[newbie17] 20/10/2017 11:18

My inside info is exactly the same as Turneyduff. A pinch of salt for me too for the same reasons. This type of info doesn't seem to be that welcome on this board but I think it's worth mentioning.

[bossno1] 20/10/2017 09:25

Lowasash—te
How is your treatment going have rhey confirmed cognitive dissonance?.

BN/

[charlesdarcy] 20/10/2017 09:05

Wetwest ;

Welcome .
Yes it reads horrendous and typical of someone taking advantage of a hyped position .
However a slight glimmer of hope is that it seems that the deals look real and are producing some strong income although perhaps well below the predicted figures at the moment

Surprised no update this week ?