Cyanconnode Share Discussion Threads

[realist1950] 04/1/2018 19:14

I'm just perusing last year's Annual Report....and in particular the renumeration pages (32 - 34).

hxxp://cyanconnode.com/wp-content/uploads/2017/05/CyanConnode-ARA-2016-Web-Version.pdf

Payments to directors are being made in cash, in kind, via options/shares, annual bonuses and earnings via consultancy fees.

Anyone looking at this company should be looking at the above pages.

[29palms] 04/1/2018 19:10

Very surprised CYAN did not get marked down a lot more today on the back of the RNS.
ENET came out with same messaging as CYAN and got crucified by 37.7%

Albeit watching CYAN with interest.
As always DYOR

[lwaxf13] 04/1/2018 13:29

Did these guys actually make real £££; in their pockets from these option exercises? Anyone? If they did then this is well and truly one seriously messed up gravy train of a company. Imagine having a job like that where you can make money by failing. Mere mortals in lowly positions would be sacked.

[dreamtwister] 04/1/2018 13:13

all of the directors exercised their options october 2017.

Trade Date Action Notifier Price Currency Amount Holding
25-Oct-17 Exercise of option
Trade Notifier Information for Cyanconnode Holdings
Simon Smith 50 GBX 485,721 1824021
25-Oct-17 Exercise of option
Trade Notifier Information for Cyanconnode Holdings
Simon Smith 43.4 GBX 285,132 1824021
25-Oct-17 Exercise of option
Trade Notifier Information for Cyanconnode Holdings
Simon Smith 30 GBX 66,667 1957355
25-Oct-17 Exercise of option
Trade Notifier Information for Cyanconnode Holdings
John Cronin 84 GBX 333,148 2481101
25-Oct-17 Exercise of option
Trade Notifier Information for Cyanconnode Holdings
John Cronin 43.4 GBX 730,650 5367153
25-Oct-17 Exercise of option
Trade Notifier Information for Cyanconnode Holdings
John Cronin 50 GBX 1,937,902 5367153
25-Oct-17 Exercise of option
Trade Notifier Information for Cyanconnode Holdings
John Cronin 23 GBX 217,500 5367153

[lwaxf13] 04/1/2018 12:45

At these prices are we due another option repricing to reward the big hitters for collapsing the share price and to help them claw back the money that they have thrown into this crock? Lets get a Brr media presentation out soon with a positive spin, then a few PowerPoints with big numbers on them, then some sh£t about opportunities we have 50% chance of winning ( aka 50% chance of losing ) then something about sliced bread.

[mtw] 04/1/2018 12:24

... about time too.

[threadworm] 04/1/2018 11:53

R U M B L E D.

[threadworm] 04/1/2018 11:48

today, 4th jan...

"As a result of this delay, revenue for the 12-month period to 31 December 2017 will be significantly below market expectations at GBP1.2m."

H1 Revenue stood at just GBP 573,143.

this implies H2 revenue to be a pitiful GBP £626,857....



...against the following statements made by john cronin:

13/07/17 (end of H1)

"We are extremely excited by the continued opportunity, security and visibility provided by the growing number of deployments as we now start to deliver on our significant order book.....CyanConnode is now becoming a well-established business,"

then....

15/09/17 (HALF WAY THROUGH H2)

"We believe that deployments, which are set to commence during the second half, will result in significant revenue growth as we focus on delivering revenues and ultimately profitability."



...then finally, as noted, previously, WITH JUST 20 ODD DAYS LEFT IN H2 TO GO..



11th december...

"The Directors of CyanConnode note the recent movement in the Company's share price and comment that they are not aware of any corporate developments that justify such a movement."

12th december...

"Paul Ratcliff commented: "The Board, including the Non-Executive Directors, have seen the recent fall in the share price and as per the RNS statement released yesterday, we are not aware of any corporate developments that justify such a movement."

...................

4th jan - poor revenue figures disclosed along with information of a delay on a major contract.


...so i'd like to ask John Cronin, Paul Ratcliff and Simon Smith, whether they considered a more or less complete lack of any meaningful revenue in h2, at the point when there were only 20 days left in that period, and with a significant order NOT YET IN to be a valid reason for concern.


I'd also like to know WHEN they first became aware of any such delays on the significant contract.

what a complete load of rubbish.

all in my opinion.

[threadworm] 04/1/2018 11:28

now lets look at the revenue figures...

[threadworm] 04/1/2018 11:24

....also 8.6m of cash end of september give you a very good insight into how much they are burning (5.5 at year end).

..given that they wont wait till coffers are completely empty before they raise again (holding back c. 1M) 4.4m in cash takes you to about march april before they begin ferreting about for the begging bowl again...

aimo.

[mtw] 04/1/2018 11:23

Doesn't look good for them either way really does it...

[threadworm] 04/1/2018 11:18

..a look at recent events....share price begins to slide...then...

11th december...

"The Directors of CyanConnode note the recent movement in the Company's share price and comment that they are not aware of any corporate developments that justify such a movement."

12th december...

"Paul Ratcliff commented: "The Board, including the Non-Executive Directors, have seen the recent fall in the share price and as per the RNS statement released yesterday, we are not aware of any corporate developments that justify such a movement."

then..13th december:

Simon Smith commented: "Having completed a GBP8.6M fund raise only three months ago and with customer payments on existing contracts now starting to flow, I was surprised to see the share price fall last week."

between then and today two very, very large trades (hundreds of thousands of pounds) have been worked through the lse system - see past trades screen..

today, 4th jan....

"the Company has been notified by a significant customer that deployment for one of these larger contracts has been delayed, owing to circumstances outside the Company's control, and that deployment is now expected to commence in the first half of 2018..........Therefore, given delivery is now expected to be made during 2018, hardware and service revenues relating to this project will now be recognised in the Company's current financial year. As a result of this delay, revenue for the 12-month period to 31 December 2017 will be significantly below market expectations at GBP1.2m."




so the above implies that as at 11 december the company had zero concerns about any delays coming from a significant customer.....and felt that the remaining 20 odd days left in december to receive any such revenues still felt good and timely to them.

Utter utter Bullsh*t (in my opinion).

[davep4] 04/1/2018 11:06

For what it’s worth Cyan did not tender for the EESL contract.

[realist1950] 04/1/2018 10:24

mtw - I note you've been 'cyanical' for many years here.

I'm sure you've upset many along the way.....but....ultimately....you've been proven right.

The carrot-red-coloured broader pipeline figure of $320M doesn't even inspire me that much to be honest.

Even if they won ALL of that, which of course they wont - they will win somewhere between a fraction and a proportion (!), the revenues/payments would be spread over a considerable time frame: 3 - 12 years.

Throw in ongoing burn and R&D costs. Delays. Fund raisings. And inherent risks ie both cyber, technological succession, geopolitical etc...

As I said let them prove something of the business model first - at least lets see the losses substantially reduced - and significant revenues flow.

I'd rather have 100k shares in something that was growing steadily in value than say 500k shares in something that was floundering.

It's really not rocket science.

[mtw] 04/1/2018 09:54

You can just imagine board meetings... "we are world leaders... we are world leaders..."

[realist1950] 04/1/2018 09:43

No sympathy left for those buying at 16 / 17p today only to be on their backsides in a little while at 12p..10p.. or worse......pumping out and amplifying the ongoing rhetoric from the management simply because they have to.

I'm afraid there are some daft people out there who are parted from their money all to easily. This sounds harsh, but it's true, and the stock market thrives on them. Talk to any market maker.

Remember this post: The next fundraising will be dressed to the nines....justified by modest revenues only.

C.£5M in reserves for a company like this is a drop in the ocean.

Remember first half losses alone stood at almost £ 5 million.

AIMO. Rgds.

[realist1950] 04/1/2018 09:35

johnwall....one must be absolutely crackers to be throwing money at this today.

If one likes the company so much, buy at a higher price further down the line when the business is proven. Why risk everything on such an early entry...and when so much is uncertain.

There are some interviews with JC almost FIVE YEARS OLD - pushing the notion of huge markets and revenues to come.

For God's sake let them prove it, buy in at a realistic valuation and then enjoy some growth. Why bother risking all here?

Dreadful RN.

[johnwall] 04/1/2018 09:26

realist1950 - in quoting the 11/12/17 RNS you missed out the sentence that IMO sits most uncomfortably with today's disappointing news, viz -

"The Company will provide a trading update for the full year once the customer deliveries expected in December are complete.

This, coupled with the Director buys and comments in the associated RNSs, suggests to me that at the time they still expected to get revenue from whichever order it is (presumably Bangladesh) booked in 2017, which in turn suggests that they're not good at reading the runes. Given your screen name, maybe you should offer them your services as a realism consultant :-)

[realist1950] 04/1/2018 09:19

And it doesn't get any better on a second or third reading.

I firmly believe further share dilution is now on the cards.

They may have pulled in a million or two by then - which will assuage some recent buyers - and I'm sure the reasoning for the fundraising will seem persuasive......but ultimately the company is reverting to type.

Don't catch a falling knife.

I now believe this will go single digit again with time.

AIMO.

[tightfist] 04/1/2018 09:05

Disappointing for sure - aside from UKSMIP, Cyan are attempting roll-out in inherently challenging countries so I suppose this sort of delay shouldn't be too surprising :-( The market share price is currently bearing-up quite well.For me the best part of the RNS is the continuing prospect of ".....expansion into new territories" during 2018. Hopefully they can continue to gain support for placing(s) in the 20's until organic cash flow moves us forward.

[realist1950] 04/1/2018 09:03

I'm late to the computer this morning so have only just seen the news.

Where does one even begin in taking apart this trading update?

The contents fly in the face of the very recent (11th December) 'statement re. shareprice movement', where the company stated, I quote:

"The Directors of CyanConnode note the recent movement in the Company's share price and comment that they are not aware of any corporate developments that justify such a movement. The Company continues to focus on the execution of its order book of $100 million,"

Now they disclose the issue of major delays on a significant project/contract.

Disgusting.

Some might say misleading.

And the fact that some retail investors are actually buying this stock this morning is indicative of why such underperforming companies like this continue to survive.

The end of year cash situation vs what was raised in September augments my point as to just how much cash this company burns........(and note that John Cronin refers to future R&D expenditure in today's message).

Revenue is again negligible.

But to newcomers, who have not followed the company for long, the 'omni-present' promise of imminent earnings fits with what they 'want' to hear.

[multibagger] 04/1/2018 08:23

Disappointing RNS - CYAN was expecting 2/3 of revenues to come from Iran and Bangladesh this year - so it looks like Bangladesh is having delays. Iran has its own problems at the moment. So this will take a lot longer to stabilise....

About £5.5m cash + £1.3m due - so we are okay for the short term.

[escapetohome] 04/1/2018 08:09

And what price the share in old money?
This current price is after a CONsolidation.

[hybrasil] 04/1/2018 08:07

The classic short. Over promising and under delivering.