Feedback Share Discussion Threads

[lr2] 14/8/2019 12:19

Not worth the trip. Board extremely unlikely to take any questions. Certainly none that don't pertain to the 7 placing and options resolutions. Will probably be all over in 15 minutes, maybe 30 if they add up all the votes cast at that time.

[ged5] 14/8/2019 12:11

Thanks for putting me straight.

It just seems strange they have it on the website and twitter. Perhaps I read too much into it since I just want it over with.

2 weeks tomorrow the GM. Why overpriced London to have meetings? We poor Northerners can't pay the ridiculous hotel prices!

[lr2] 14/8/2019 11:36

It's just a reiteration of what was said in the 12/08/19 RNS. Nothing new here.

"Cambridge, 12 August 2019: Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the specialist medical imaging technology company, announces that it has conditionally raised a total of £2 million (before expenses) via a proposed placing by Peterhouse Capital Limited and Stanford Capital Partners Limited, and a subscription of a total of 166,666,667 new ordinary shares in the Company ("New Ordinary Shares"), at an issue price of 1.2 pence per New Ordinary Share (the "Issue Price"), (the "Fundraise"). The Fundraise is subject to, inter alia, the approval of shareholders at a general meeting of the Company."

[dplewis1] 14/8/2019 11:36

It's not new news though? The placing announcement the other day had 'has conditionally raised' as well.

[ged5] 14/8/2019 11:23

We are pleased to announce that Feedback Medical has conditionally raised £2m (before expenses), by issuing New Ordinary Shares, to initiate the launch of bleepa.



Shouldn't this be an RNS?

[bobd29] 14/8/2019 00:15

Hi duc, don’t think there is anything wrong with the technology/products, it’s the management that must bear the blame. Three years since CE Mark for TexRAD Lung, not a single clinical sale! Latest fundraise at a lower price than the previous! Under AR reign still losing money and little growth with the share price declining by over 50%...how does he survive?
Great scientists, lousy BODs imo.

[ducatiman] 13/8/2019 21:38

Questions:- cash position? FDA approval application progress? (Last funding objective), Sales? (Last funding to employ new sales team). They started January!! Any progress!!??. Personally I wouldn't touch this leaked placing with a barge pole unless I had more information on the above. As a shareholder I just have to hope that all is in order and that bleepa, Cadran and Texrad can succeed. I am not impressed with the way this company is being managed. GLA, duc.

[sonie01] 13/8/2019 21:20

It would be interesting to see whether the MMs or brokers buy the stock for themselves, that would be a good sign

[davydoo] 13/8/2019 16:44

Anybody wanting stock just calls Peterhouse rather than buy in the market now don't they?

I have no idea how small they might allow though.

[botak54] 13/8/2019 16:13

Its confusing duc , As Im getting conflicting reports of full allocation taken up , But rns states only 57.7M with TC and Rory Shaw / CFO taking 38m of that , What of the balance of 108M ?
Anyone ?

[ducatiman] 13/8/2019 15:41

Anyone else thinking they are going to have to come out with something other than, we've got this product that we think will be a success, to get this placing away!?

[newtothisgame3] 13/8/2019 09:07

#FDBK …
@BleepaMe
37 seconds ago
Wearable Exoskeletons on the horizon: "the fact that giant companies [@LGElectronics] are jumping on this market is very exciting"

Particularly exciting from a healthcare perspective are wearables to support specific joints

[botak54] 12/8/2019 13:30

Jeez, They can have mine at X 5

[bobd29] 12/8/2019 13:17

Davy you may well be right but this is fdbk! When we are in profit if anyone want my shares at 50x PER they would be very welcome!

[ducatiman] 12/8/2019 13:11

I will be voting against. Main reasons:- timing, the leak, no declaration as to current cash position which should be £800k and therefore no immediate cash requirement, last placing was for FDA approval but absolutely zero updates on that.
We may well have a winner in bleepa but if they are so confident why raise now?
All very murky indeed.

[botak54] 12/8/2019 11:42

They Knew alright

[lr2] 12/8/2019 11:13

"The New Ordinary Shares will represent 30.78% of the issued share capital of the Company as enlarged by the Fundraise."

My post #2199
BUT the Placing Price represents a true discount of approximately 31.4% to the closing mid-market price of 1.75 pence per Ordinary Share on the day before the placing was leaked.

30.78% vs. 31.4% - close enough. Don't tell me the markets didn't know about the leak. Damned impressive coincidence if they didn't.

[davydoo] 12/8/2019 10:59

An 80% net profit margin in 1 year for a health tech company having only sold in to one market, would probably be valued at a PE of 100 not 10

Although it would probably be bought out before it ever made it to that

[bobd29] 12/8/2019 10:51

Thanks lr2. IF I assume with all other income/costs a PROFIT of say 4£m in the next year and a PER of just 10x then the share price should be appx 8p? A profit ought to mean an end to fundraising at least for a while also. Further ahead maybe Bleepa international expansion and rollout of TexRAD clinical? End of 2020 may at last reward lths (if any have stayed the distance). Just musing....dyor.

[lr2] 12/8/2019 10:19

Morning Bob,
In the placing document it states, "In the UK, across NHS hospital, community and primary care settings, there are approximately 150,000 doctors in total and over 320,000 nurses and midwives."

So a potential 470,000 users at first glance. However take out GP's and nursing staff working outside hospitals, say 25%, then practical UK market for Bleepa is down to around 352,500 and many of them work at multiple hospitals.

I'd estimate true market is around 275,000 individuals.

15% take up would be 41,250.

41,250 individuals at £10 a month is a yearly revenue stream of £4,950,000.

Round it up to £5 million for ease of use.

Looks like that will cover company costs and leave some money in the bank but nothing too exciting.

[bobd29] 12/8/2019 10:06

Morning lr2, assuming these figs verify and let’s also assume say a 15% takeup what does that give in likely user numbers? This just for the UK, and ignoring any add-ons from Cadran sales etc, will give some idea of Bleepa income to FDBK. Then we can see whether the fundraise was beneficial to shareholders.still cannot see why it wasn’t delayed a few weeks for a higher price though. Shady doings all round on this one?

[lr2] 12/8/2019 09:36

The Placing is NOT being underwritten. Hence just £100k (apply sarcasm here) as cost of placing. Suggest Peterhouse and Stanford Capital earn their money by finding out who leaked the placing.

The Placing Price represents a discount of approximately 14.3% to the closing mid-market price of 1.4 pence per Ordinary Share on 9 August 2019.

BUT the Placing Price represents a true discount of approximately 31.4% to the closing mid-market price of 1.75 pence per Ordinary Share on the day before the placing was leaked.

It is proposed to market BleepaTM using a SaaS model and charging in the order of £10 per month per user, with a 12-month minimum contract and a 3 month cancellation period.

First 16,667 medical staff signing up to Bleepa for 12 months will cover the £2 mil raised by this placing.

First 833 medical staff signing up to Bleepa for 12 months will cover Peterhouse and Stanford Capital's costs.

[dave4545] 12/8/2019 09:33

Herb

I've seen your trades when you mention them now and again and they are never large.

You do not do subtle very well.

[lr2] 12/8/2019 09:21

Re post #2193.

They don't have the money yet. The placing is not being underwritten and they only have a confirmed take up for 57,700,000 shares (£692,400) at present.

[herb clark] 12/8/2019 09:19

I have a large holding actually