Big Sofa Technologies Share Discussion Threads

[juzzer100] 03/10/2017 14:47

If the promised contracts with Unilever or P&G are that big then I would expect their procurement guys to be all over Big Sofa's financials. If I was FD at Sofa HQ I am not sure I'd be sitting comfortably!

[gheebee] 03/10/2017 13:28

In fact, have we had any news about contracts as opposed to framework agreements?

[chimers] 03/10/2017 13:12

I'd settle for 3 years no interest free delivery and a free rug.

Talking of rugs............

[gheebee] 03/10/2017 13:11

Would you settle for news of more framework agreements now and news of some contracts by Xmas to address those concerns?

[colinzeal] 03/10/2017 12:42

I would hope contract news will be announced by year end to arrest some of the concerns on further placings.

[jestercat2] 03/10/2017 10:32

That's a big 200,000 buy at 20p there. Hmmmmmm....

[discodave4] 03/10/2017 08:04

Cash burn H1 £2.1m, only £397k left plus £1.5m from Sept placing gives c £1.9m...........mmmm based on H1 then cash will be ZERO 5.4 months into H2, so say mid November.Another placing next month I reckon.DDps PL when did you sell up?, just curious now.

[kemche] 03/10/2017 06:52

CBUY?

Bless!

[pet lover] 03/10/2017 06:48

So far based on the share price since floatation the shares are up around 15% in 9 months.

20% a year, beats cash of 0.5%

Long term stockmarket returns of 4.8%.

And your portfolio, hands down.!!

BLESS.



PET LOVER 1

Kemche 0

[albanyvillas] 03/10/2017 06:44

Trading Whilst Insolvent Worried Directors Guide

2 August 2017

Guide to Trading Whilst Insolvent

I have heard that trading whilst insolvent is a criminal offence which will lead to disqualification of the directors, is that true?

Trading whilst insolvent is a legal term used to describe a business continuing its operations despite being insolvent. It can lead to a breach of several provisions of the Insolvency Act 1986 (including wrongful trading), therefore it is important to take care and know the risks if your business is struggling.

Despite the improvements in the UK economy, some companies are still facing uncertainty and financial difficulty. As a director you are protected from the consequence of a failed company by the veil of incorporation, PROVIDED that you acted reasonably, responsibly and within the law. Failure to do so could make directors personally liable for the company's debt.

The main provisions of the Insolvency Act 1986 that you should be aware of are:

Wrongful trading - Section 214 Insolvency Act 1986:
Transaction at an undervalue - Section 238 Insolvency Act 1986
Preference - Section 239 Insolvency Act 1986 (Unfair Preferences in Scotland s243)
If the company IS insolvent and if the board of the company continues to trade whilst it is insolvent, the directors of the company may become personally liable to contribute to the company's assets and help meet the deficit to unsecured creditors if the company's financial position is made worse by the directors continuing to trade, instead of putting the company immediately into liquidation.

In other words that veil of incorporation can be lifted and the directors protection removed. Then you may face wrongful trading accusations and possibly even directors disqualification

How do I avoid personal liability?

Make sure that you read our guides to wrongful trading and is our company insolvent. You should also have up to date management accounts and financial information. It would make sense in such scenarios to have a daily cashflow model as well as budgets for profit and loss.

Secondly, make sure that you are fully aware of the current position: for example as a sales director you MUST know the financial position even if its not your area of interest.

Have regular minuted board meetings to discuss the position, question the cashflow and numbers and take decisions to act. this will help protect you and underpins why you were taking the decisions to continue trading, ask for time to pay tax and had carefully thought things through.

[albanyvillas] 03/10/2017 06:43

So far, based on the share price which has crashed

Kemche 1
Pet Lover 0


Kemche is winning

[pet lover] 03/10/2017 06:41

Kemche.

As we witnessed yesterday, the only thing raising,in the next few weeks will be the share price.

The EXTRA 10%,( that you are so kindly handing over to myself) will be most appreciated.

Rather than fritter it away on yet another holiday I will donate it, on your behalf directly to the NHS.

How much stock did you manage to pick up yesterday ?

[albanyvillas] 03/10/2017 06:37

Trading Whilst Insolvent Worried Directors Guide

2 August 2017

Guide to Trading Whilst Insolvent

I have heard that trading whilst insolvent is a criminal offence which will lead to disqualification of the directors, is that true?

Trading whilst insolvent is a legal term used to describe a business continuing its operations despite being insolvent. It can lead to a breach of several provisions of the Insolvency Act 1986 (including wrongful trading), therefore it is important to take care and know the risks if your business is struggling.

Despite the improvements in the UK economy, some companies are still facing uncertainty and financial difficulty. As a director you are protected from the consequence of a failed company by the veil of incorporation, PROVIDED that you acted reasonably, responsibly and within the law. Failure to do so could make directors personally liable for the company's debt.

The main provisions of the Insolvency Act 1986 that you should be aware of are:

Wrongful trading - Section 214 Insolvency Act 1986:
Transaction at an undervalue - Section 238 Insolvency Act 1986
Preference - Section 239 Insolvency Act 1986 (Unfair Preferences in Scotland s243)
If the company IS insolvent and if the board of the company continues to trade whilst it is insolvent, the directors of the company may become personally liable to contribute to the company's assets and help meet the deficit to unsecured creditors if the company's financial position is made worse by the directors continuing to trade, instead of putting the company immediately into liquidation.

In other words that veil of incorporation can be lifted and the directors protection removed. Then you may face wrongful trading accusations and possibly even directors disqualification

How do I avoid personal liability?

Make sure that you read our guides to wrongful trading and is our company insolvent. You should also have up to date management accounts and financial information. It would make sense in such scenarios to have a daily cashflow model as well as budgets for profit and loss.

Secondly, make sure that you are fully aware of the current position: for example as a sales director you MUST know the financial position even if its not your area of interest.

Have regular minuted board meetings to discuss the position, question the cashflow and numbers and take decisions to act. this will help protect you and underpins why you were taking the decisions to continue trading, ask for time to pay tax and had carefully thought things through.

[albanyvillas] 03/10/2017 06:36

The cash will run out before Christmas

Could anyone check my maths . ----> cash left over monthly burn rate VERY!! WORRYING!!

[kemche] 03/10/2017 06:25

DD, That's as good as an admission from William that another raising will be coming.

And in "bulk"!

[pet lover] 03/10/2017 06:10

Disco Dave.

Please a few less of the pork pies.

[discodave4] 03/10/2017 01:03

PLStill deflecting on you're position!Cash burn horrendous, no cash so expect another placing before Christmas.........Directors also need nice bonus for Crimbo!.DD

[kemche] 02/10/2017 19:36

"I bulk at paying over £1,000" - you may well "bulk" at it but I simply baulk at your command of the language.

[pet lover] 02/10/2017 19:21

The poor Trolls had a rotten day.

Bless

[pet lover] 02/10/2017 19:21

Poor disco.

Can't do the maths


Admission price 17P

[discodave4] 02/10/2017 19:16

Toffeeman - 02 Oct 2017 - 16:40 - 1341 of 1351 - 0Yep 8% higher than the low - but still below the issue price - presumably you sold your 1m shares at 25 and bought them back today PL :)Toffeeman - Hows things?, excellent post!Of cause PL sold up ages ago, strange he always diverts answering such questions, lays low and only pops up again when it does its impressions of a dead cat!.DD

[pet lover] 02/10/2017 18:49

Kemche:

As you would not have considered buying this stock, any chance 10% of the profits going towards my next holiday.? I bulk at paying over £1,000 a night so it should not cost you more than £30,000 for 3 weeks, (all in).

Thanks in advance.

[kemche] 02/10/2017 18:40

Hilarious stuff William!

[pet lover] 02/10/2017 18:39

Well it's taken 10 years plus, but it gives me great pleasure to give you a head start in life.

First let's look at the attraction of BST.

I WILL KEEP IT SIMPLE, (like your good self)

Low market cap.

Very high margin.

Massive growth potential

Recurring revenues.