Bright Things Share Discussion Threads

[the analyst] 30/10/2009 00:41

On your suggestion of changing payments to the Euro, you need to appreciate that the US is the biggest market by far and most people using SocialGO are in the US (90%+, I think). You might not know, but people in the US are VERY patriotic. Americans wouldn't dream of paying for something like this in a foreign currency

For that reason, I think that charging is Euros would kill the company dead

[pink/e] 30/10/2009 00:00

Total costs look like they might be around £150k pm, £1.8m pa. They are now making £30k pm revenue ($50k), this should increase to £40k, £50k etc., as the months pass. So, losses at the moment look to be around £120k, but dropping month on month. They raised £950k in September, which probably gave them £900k after costs. It looks like they raised enough to see them through until at least March (7 months at losses of £130k per month), but maybe through until May (9 months at an average of £100k per month)

So, iantc, how do you come to your "cash call will be on the way by the end of the year imho" conclusion? Even more confusing, you based that calculation on losses of £80k pm, whereas my Mar/Apr/Jun prediction is based on losses of £130k/115k/100k. Please could you explain why you think they will raise cash before year end, it just doesn't make any sense at all and makes you look like a deramper

[the analyst] 29/10/2009 21:20

Hi Ian

My view hasn't changed - I still think they will need one further fund-raising to give them a good chance of reaching break-even. My guess would be a placing of around £1m in the Spring

I went to the AGM and Dom seems to think they have a good chance of making break-even on the funds they have, but my thinking is he was basically required to say that in front of the advisors. He needs to be seen to be in line with the statement of 'having sufficient funds for the foreseeable future' which would have been required to sign-off the accounts

However, if they do get that 'hockey stick' moment on the KPIs, then I'll be happy to be proved wrong

Numbers for regular SocialGO networks (non-zocku) seems to be around 900-1000, which is pretty much as I had expected. But I am pleased with the average revenue per SocialGO network, which is higher than I had expected

The BIG disappointment here are the zocku numbers. They only seem to have just over 100 zocku networks up and running, rather than the "thousands" that was mentioned by staff/wl.

I think that over the past 6-8 months they did manage to get thousands of people to create networks on the zocku platform, but that the attrition rate has been massively high. Obviously, the product doesn't offer what this crowd were looking for. In my opinion, the lack of video chat rooms has been a big factor. I imagine that these "adult content" people want the ability to see each other doing their adult things live and in real time, more than anything else

Still happy to be holding...

[carl79] 29/10/2009 19:37

Hi Ian,

I was not there today so can't comment really - numbers are not great and not where I thought they'd be - but they are doing enough business to wash their face - i do not think any here thought that further dilution was not on the cards...i thought that they would be able to do any further placing at a premium to this level - happy to wait and see...

[iantc] 29/10/2009 18:18

well carl ,ta, you have your paying users number just over 1,000 ,cash will be running out so they need to get the numbers up pdq as digger says .cash call will be on the way by the end of the year imho ,might crunch the numbers a little later but quick look they are running at approx £80k a month loss after r and d/admin/wl rake/and gowit costs .you can understand why wl have moved on

[digger27] 29/10/2009 13:11

Not exactly the turnover I was hoping for so lets hope they get more converts pdq.

I assume all other revenue streams such as games, idvd etc have been shelved for good?

[haff1] 29/10/2009 12:38

...those figures dont seem to be the sort that are going to launch the share price here, from where is, up to where we all invested hoping it might achieve imho..... lets up the product is good enough to get a critical mass of premium users in the not too distant future??

[trasenster] 29/10/2009 12:28

Short Trading update released

[carl79] 28/10/2009 17:01

Any update on the latest network numbers TA?

Things very quiet here - calm before the storm?? This could be the flattest i've ever seen BGT - not even MMs moving bids/offers around - in fact, it definitely is the flattest ive ever seen it...

[carl79] 28/10/2009 16:57

So - who is going tomorrow?

[the analyst] 26/10/2009 19:38

"October 26th Release
by Alex H on Monday 26th October 2009 02:10pm | View all blogs by Alex H

Today we pushed a new maintenance release of your SocialGO Network code which includes a number of fixes to your networks including :

- On approval of video and photo items, an activity feed item will now appear.

- Sub-content of tabs is now controlled by member levels. If you where to limit the access to the videos tab, all sub-videos will also be limited.

- Future dated blog posts now appear in the magazine only when their post date is reached.

- The event invite friends function now works correctly for all events.

- Group locations now display correctly for group members.

- New members joining the network get a homepage activity feed entry.

- Editing a comment on the videos page now works in Internet Explorer. There was an issue with the video appearing over the edit box.

- Approving members within the Member Manager or Resetting their password now sends them an email confirming the change. "

[the analyst] 24/10/2009 17:27

This Week's Release
Published by Alex H on Friday 23rd October 2009 07:10pm | View all blogs by Alex H

Hey All,

We will be deploying this week's new code on Monday which includes over 80 different resolved issues. We will publish information on this on Monday.

Cheers and have a great weekend!

[iantc] 22/10/2009 16:19

lol digger

[haff1] 22/10/2009 13:29

... what?...normal as in the none movement of the share price ..I wonder?

[digger27] 22/10/2009 13:15

Taken from above post/quote

"We hope you're excited as we are! Keep checking our Owners Network (owners.socialgo.com) for all the latest info on the new releases."

Having been whipped up into a frenzy of excitement here for over 2 years I am finding it difficult to adjust to normal life.

[haff1] 21/10/2009 11:25

...hopefully just sleeping!!.....!!.......!!

[marbles1234] 21/10/2009 08:23

Is this dead now?

[haff1] 20/10/2009 15:33

... this sounds good....lets see the share price reflect some good news eh with some upward movement. Any one looking to buy will look at the graph and think we are under suspension...

[the analyst] 20/10/2009 15:28

"Alex Halliday, Official Rep, replied 17 hours ago
Fantastic to see all your ideas on here and it is great for me to see. My role at SocialGO is try and prioritise things going forward for the development team.

At the moment we are dividing our time in 3 areas. Firstly we are working on the day-to-day bug fixing and general improvements to our systems allowing us to scale the platform as networks get bigger. Secondly we are working on our next version of the core architecture which will allow us to do things which can not currently be done on any social networking platform out there (but is some months off) and thirdly we work on building tools to manage the subscription side to the business. Invoicing, bandwidth logging etc.

I am going to go away and try and distill from your comments here some things which we can deliver to you between now and Christmas. Some thing will have to wait as they are being addressed more fully in our next major version but many of them can be tackled and worked on in the interim.

We are also working on a way to involve you guys far more in the planning stages. News of this will also be making its way to you this week.

Cheers
Alex"

[the analyst] 12/10/2009 13:56

I could do with some fellow PIs there to help out with asking a few questions!, as I will turn up with a hangover. The night before I'm meeting a friend, who 'profession' is to write about beer and he's going to introduce me to some new ones...