Defenx Share Discussion Threads

[eh9] 26/10/2017 08:58

This is an absolute dog. Whoever subscribed to the multiple means of fundraising with no tangible details regarding what it was for needed their heads looked at!

[a2584728] 26/10/2017 08:51

They are today I'm afraid

[babbler] 25/10/2017 15:03

I mean no one selling below 50.

[babbler] 25/10/2017 15:01

No one really buying at selling below 50 despite mm trying hard. And buys were out at 51...will bounce soon.

[levkowitz] 25/10/2017 14:42

Ouch. Didnt want to sell at 145...

Is there any more news out there? Anything from the brokers?

I'm still torn. As horrible as the update is, there was a lot of money coming in from bvtech and institutions at mucher higher valuation.

Be interesting to see who's selling and who's buying.

[babbler] 25/10/2017 14:14

Buyers back at 51.5 for a 10 percent bounce imo. See how it goes.

[bullet ant] 25/10/2017 14:04

GOING FROM BAD TO WORST.


COME BACK AT 10P FOR TITTES BOUNCE TO 15.7P


BA
STEALING IS GOOD

[bullet ant] 25/10/2017 12:53

OH MY GAWH


I HAVE A BUY ORDER AT 10P HERE


BA

STEALING IS GOOD

[hot wheels] 25/10/2017 12:35

Deary me

run for you lives people.


If Pug posts, that usually it !!!!!

[modform] 25/10/2017 12:10

The business model was flawed, I have said it many times, how can you charge for a piece if security software that better and bigger companies like AVG AVAST give you it for free.They had the same model as McAfee and suffered the same fate.

[twistednik] 25/10/2017 09:38

Read these 2 statements again from the Sept interim results:

"Operating loss (before transaction costs) of EUR1.31 million (1H16: EUR296,000) reflecting the front-loading of full year marketing contributions into the first half of the year to drive sales that are seasonally weighted into the second half of the year.

As we have previously indicated, our business is heavily seasonal with costs weighted towards the first half of the year and revenues towards the second half. As we invest in new product developments and move into the corporate market in collaboration with BV-Tech there may be an adverse effect on revenues and profits in the short term as we build for the future."

So... all of the costs incurred upfront with the expectation that the revenues will follow in H2. The problem is; if revenues don't come in, you can't cut your costs accordingly so any loss of revenue will fall straight to the bottom line.

Always easy in hindsight, but looks like there were some signs of an increased risk of a profit warning following the Sept update.

[twistednik] 25/10/2017 09:31

Relieved I held off investing. Trading update is pretty shocking and without quantifying the slippage, it leaves investors guessing how bad this is. Certainly doesn't help to put a floor under the share price.

I would take a thorough look at the revenue recognition policies of this business before investing (i.e. do they book revenues up front with the costs incurred afterwards, hence inflating profits?). When does cash come in relative to Capitalised Dev spend? I don't know the answers but worth investigating and taking 'EPS' with a pinch of salt.

My previous concern was around scalability and cash flow... and would need to see some signs of recovery before looking at this one again.

[mach100] 25/10/2017 09:14

Not invested here nor ever have but reading a la PUG to see what is behind the fall. Kudos to the guys who raise red flags here and posted to inform investors. Some were voted down or told not to be negative. But fair play guys, you were proved right as was that horrible TW.

[a2584728] 25/10/2017 09:14

I think many investors have been mislead by the lies of the BOD

[hastings] 25/10/2017 09:04

No position thankfully and commiserations to those that are.Broker note this morning makes for grim reading.

[kemche] 25/10/2017 08:49

Pug, "winding up notice" - I think it has certainly managed to "wind up" the investors here.

[pugugly] 25/10/2017 08:45

rns reads like a the inscription on a tombstone or winding up notice (imo). Could this be a broken business model or just a minnow being crushed by strength of superior competition. [Declaration - do not hold but visiting to see if any chance of a bounce]

[a2584728] 25/10/2017 07:19

Could be a painful morning

[a2584728] 13/10/2017 13:58

Added just a few more. Have over 30000 now

[a2584728] 11/10/2017 11:51

Added to average down

[a2584728] 11/10/2017 10:55

This is so under valued at the moment imho, the management need lessons in how to deal with the investors of a public company

[euclid5] 10/10/2017 12:12

seems they have high Admin costs as noted in their interim report:

"The Group now reports operating expenses by department, being sales & marketing; research, development & operations; and administration, with transaction costs separately itemised. Analysed by their nature (see note 6), marketing, staff and AIM-related costs continue to account for the majority of operating expenses.

While sales seasonality results in a majority of Group revenue falling into the second half, the opposite is true for marketing contributions which are incurred in the first half to front-load the benefit over the whole year. Total marketing expenses were €2.23 million in the period (1H16: €1.48 million), reflecting this seasonality and the launch of two new channel partners in June.

The increase in staff costs to €599,000 (1H16: €327,000) reflects Memopal's staff costs (included in the period for the first time) and 2017 salary rises"

[wordog] 04/10/2017 14:45

might be worth getting back in here, just feel that the integration costs will be high.