Cloudbuy Investors - CBUY

Cloudbuy Investors - CBUY

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Cloudbuy Plc CBUY London Ordinary Share GB00B09Y8Y28 ORD 1P
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 0.15 01:00:00
Open Price Low Price High Price Close Price Previous Close
0.15 0.15
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troutisout: Good Luck with that Duncan, but having explored the chances of legal redress at another company which was far more fraudulent than here, we got nowhere. You will not get the physical evidence to fight them. Hearsay and conjecture don't work. We looked at claiming against the Insurance as well but the legal advice stated that although it was apparent the Board had been acting maliciously, the proof needed to be far greater to have any chance of success with the claim. The Duncan's have run a lifestyle company here and somehow they managed to hook an American investor who gave them millions and a much longer lifestyle, if Sella hadn't backed them, this would have been dead on the water years ago. Tara was a massive ramper of this and left many financially damaged, there is a lesson there...
niggle: Dodo dead
tomboyb: Anyone see the "big short" - The scene where you have investors buying stock in a pharmaceutical company - Only for one of the brokers to find a name on a shop window - Thats how each of these projects from my perspective seem to have been dealt with - A bit better than a sign but no better than a 2nd grader -
deltalo: This doesn't look good at all really, completely being run down to the ground. Also the spread says it all at 60 percent,so a 10 grand buy will be a 4 grand bid. Not very inviting for big investors, it just attracts the chancers that are at the end of there capital. This was very quiet before the drop, funny that really as why should there be more interest now as its in a worse state than before. It will go quiet again,and many will be locked in and talking to themselves until the end.
tomboyb: 9.2 Voting Commitments The Directors and Roberto Sella together representing 27.5% of the issues share capital, have given an irrevocable commitment that they will vote in favour of the motions at the General Meeting. hxxps:// Directors looked to have dumped before hand -
radison56: 12 November 2014cloudBuy plc("cloudBuy" or the "Company") Further re Director dealing On 27 October 2014, the Company announced that Ronald Duncan, Chairman of cloudBuy, had agreed to pledge up to 4,500,000 ordinary shares of 1p each in the Company as security for a loan facility in connection with his house move.The Company and Mr Duncan notify the following further information:Under the sale and repurchase agreement (the "Agreement") which Mr Duncan entered into with Equities First Holdings LLC ("EFH"), Mr Duncan has transferred 2,250,000 ordinary shares in the Company (the "Transferred Shares") to EFH for the consideration of £533,490.30 for use towards part of the purchase and renovation of his new house.  Mr Duncan intends to utilise the outstanding balance of the loan by transferring a further 2,250,000 ordinary shares in the Company to EFH on the same terms under the Agreement (the "Further Transfer").  The transfer and determination of the amount of the consideration for the Further Transfer is expected to be completed by 11 December 2014 in accordance with the terms of the Agreement.The Agreement provides that on maturity, 27 October 2017, Mr Duncan agrees to repurchase all of the Transferred Shares (including any Further Transfer) at 27.16p per share, and he intends to do so.  The Agreement contains a margin call, if the value of the shares falls below 19.5p Mr Duncan may either terminate with no further liability or provide additional security in cash or shares.Ronald Duncan, Chairman of cloudBuy plc commented: "In order to minimise disruption around the move, we put in place a facility which would allow us to remain in our existing house whilst the renovation was carried out, following this we will sell the existing house and release the equity".As at today's date, the voting interest of Ronald and Lyn Duncan and associated family is 18,823,624 shares, representing approximately 15.7 per cent. of the Company's shares, which will reduce to 16,573,624 shares, representing approximately 13.8 per cent. of the Company's shares on 11 December 2014 when transfer of the Further Transfer is due to be completed.  The total interest of Ronald and Lyn Duncan and associated family remains unchanged at 21,073,624 shares, representing approximately 17.6 per cent.  Mr Duncan's interest is in the Transferred Shares (including any Further Transfer) because of the repurchase obligation for those shares in the Agreement, however the voting rights for the Transferred Shares (including any Further Transfer) are with EFH (who have contractually undertaken in the Agreement not to exercise these voting rights).ENDS
yump: A lot of people thought PHB Choices would work, but it could be seen early on that content wasn't up to much and the principle wasn't likely to work. Any kind of directory is useless unless its full of companys and products, before its promoted and they won't join unless there's a waiting audience. Catch 22. Would require a vast resource and publicity. You can't blame Duncans for investors not understanding or thinking about that, although you can for the endless BS.
tomboyb: It clearly has lost investors "vast" sums of wealth including me - This is surviving on Sella - So three cheers for him - Incidentally when someone needed the house it wasn't exactly Ron that was pushing it was it - Partners need to be kept happy -
tomboyb: hxxps:// "Good place to cut your teeth, not build a career" Former Employee - Anonymous Employee Doesn't Recommend Negative Outlook I worked at cloudBuy full-time Pros Very relaxed environment with a no blame culture. Cons Nobody has a grip of what's going on or needed. Seemingly unable to plan, build and deliver even the simplest of projects. Advice to Management Be honest with your staff, customers and investors. There's so much BS I think senior management actually believe it themselves. Weed out the dead wood. Listen to the ideas people bring to the business, so many things have slipped by I doubt the business will ever recover without a change of management and direction. This was 2016 - Can u imagine now 10x worse -
tomboyb: Cloudbuy? No, cloud sell! By Nigel Somerville, the Deputy Sheriff of AIM | Sunday 24 March 2019 If you like this, please share this article using the buttons below Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article. AIM-listed Cloudbuy (CBUY) released its FY18 results this week and they were truly awful. The company remains dependent on future improvements in trading performance and/or its ability to raise additional finance, in order for it to continue operating for the foreseeable future, revenues are still falling, cashflow (apart from Mr Sella’s loan) is still solidly negative and profits came in at minus £2.2 million. It is grim reading indeed. Revenues were down 27% as existing customers were not renewing contracts. That doesn’t say much about the quality of the product, and comes on top of the prior year’s drop of 12%. Losses were also down – good news – to £2.2 million, down from £2.6 million last time and a whopping £4.1 million the time before. Well, it is lower, but it is still a whopping loss: £2.2 million on revenues of £1.1 million is dreadful. The cashflow statement shows continued cashburn of £1.7 million, as against £1.7 million last time, before Mr Sella’s loans are taken into account. So no improvement there! Somewhat optimistically we are told that the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for a period of 12 months but I find that hard to accept, given that the company’s net current assets were down to MINUS £0.5 million at year-end, having burned through £1.7 million of cash and I find it hard to see how the additional loans from Mr Sella of £0.75 million will really help. Whilst the directors have a reasonable expectation that all will be well (despite the above), the auditor offers a clean bill of health on the going concern front but notes that the company is reliant on improved trading or new finance to keep it going through the next twelve months. With particular reference to new funding, I note that one of the conditions or Mr Sella’s loans was that he gets a 25% discount on any fundraising – which surely would knock out any bucket-shop interest. And further to the trading update offered only last month, when the company dangled the carrot of two potential contracts which would see the company move into profit, one of those has already gone! How all that does not amount to a material uncertainty is beyond me - but I’m not an auditor, so what do I know - but well done to auditor James Cowper Kreston for hedging its bets. It is always good to get a clear opinion….. Maybe I’m wrong that no bucket shop would be interested: perhaps there is a placing coming and Mr Sella has waived his right to take part (at a 20% discount). In that case, on last year’s numbers, a million quid or so should do the trick (plus Mr Sella’s £0.75 million). If I were Mr Sella, I would be happy enough with that because if Cloudbuy can’t pay him back then he converts at 2p in the event of no default, 1p in the event of default……;or since the loans are secured, he gets the whole lot out of administration for peanuts. So if someone wants to put extra cash in, that would be fine by me if I were Mr Sella. But a £1 million placing when the market cap is only £3 million would be one big mountain to climb, so if any bucket shop were interested, the discount would be eye-watering. As I pointed out in December 2017, if someone makes lots of money out of Cloudbuy, it won’t be the likes of you or me. The shares slid back to just 2.5p (from 3p) but I simply can’t see how anyone will make a gain here aside from Mr Sella – and even there I wouldn’t bet my house on it. For private investors, the odds are heavily stacked against you: SELL.
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