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[ged5] 09/9/2019 22:15

Thanks for your post 2915, LR2. Much appreciated. Will go through them at some point. Out and about this week.

Did you see post 2830? I put the staff number for Royal Papworth on there. It's on page 47 of their Annual Report. I just took a third of the total which may not be too far from mark. I'm not sure if they're a typical hospital.

211 Medical and dental but some from the Nursing category and therapeutic category.



It is frustrating that we have to talk about this topic but it's because of past failings of the company. It's the fault of the (past) management not us shareholders who do own part of the company. We should be able to talk about all aspects without being attacked.

However we have new management let's get a conclusion to the discussion and move on. We all want Bleepa to be a success and I want to be rich again! :-))

[lr2] 09/9/2019 21:59

Thank you Pete. Have just done a couple of google searches and come up with 290,000 doctors and 168 hospitals in the UK which gives an average of 1,726 doctors per hospital. Seems high to me but who knows?

Assuming 1,726 doctors per hospital then 1,726 x £10 x 12 months gives a value to Feedback of approx £207,120 per hospital. We need 8 such hospitals for income to balance likely outgoings. 8 out of 168 doesn't seem too arduous. 4.75% of all hospitals.

[petekand] 09/9/2019 21:44

Maybe a bulk of the last placing was actually used to develop Bleepa.
Didn't the October 18 placing first mention "to develop new Cadran products?"

Good factual easy to understand post LR2. #2915. If the above comment is right then I can see how they could have burned through the last raise quicker than we would have liked.

[bobd29] 09/9/2019 21:35

I am not being at all negative but Duc has a good point. Developing tech companies need to control funds as they can easily run away and it is not obvious why the latest Placing needed to happen when it did. The previous Placing before was in part for TexRAD sales development but nothing was seen, so what happened to that cash? FDBK needs to be very much more transparent if it is to retain supporting investors. This is particularly sonwith Bleepa success possible and an update on TexRAD due. History tells FDBK investors not to be too blind, sometimes awkward questions require answers....so good on you Duc.

[petekand] 09/9/2019 21:35

Duct
We don't know yet but we will most certainly find out once results are reported, so we can talk facts at that point.
Coming back to the placing, when do you think discussions first started between the bod and placees? Before Bleepa announcement or after? My bet is way before and most likely whilst the price was sub 1p. From that angle, one could argue it was a premium placing. These matters take weeks/months to organise and as a prime example, I draw your attention to the farcical October 2018 placing which took (off the top of my head) around six months to complete!
FWIW, I suspect the placing was agreed at 1.2p and then some entity (Peterhouse?) attempted the usual AIM stunt, i.e. Issue a non-RNS containing all the key buzz words, pull in the herd and forward sell all the loose stock at inflated prices and then announce a placing.
How much of the 1.2p to 2.1p move was just speculators, chartists, etc who jumped onto the bandwagon without knowing sod all about the company.
Maybe then a good thing that it leaked. At 0.60p, I would have probably taken Bleepa and a 1.2p placing.
But in all honesty, this is now water under the bridge and my focus is on seeing the company move forward and succeeding and with that I wish Dr T the best of luck.

[lr2] 09/9/2019 21:25

You raise an interesting point about the need for funds Duc.

I had a bit of spare time so have put the following together.

End May '18 - cash £632,285.
End Oct '18 - raised £1.35 million.
End Nov '18 - cash £1.367 million.
End Aug '19 - raised £1.9 million.

So 6 months to Nov '19 cash burn was £615,285.
Equivalent monthly burn - £102,548.

If monthly burn to end Aug '19 was at same rate then monthly burn £102,548 x 9 results in total burn to end Aug '19 of £922,928.

£1.367 million less £922,928 would leave £444,072 in cash.

Enough for another 4 months or so and no obvious rush for a 1.2p placement.

But rumour was bank was almost empty when last funds were raised so actual cash burn now more like £151,888 a month.

So £1.9 million raise at current burn rate will last for 12.5 months using higher burn rate.

Last known revenue was £236k for the 6 months to end Nov '18 so monthly revenue was £39,333.

To balance books monthly revenue needs to rise from £39,333 to £151,888 a rise of £112,555 a month. 386% rise to break even point.

Assuming TexRAD income is little changed then Bleepa needs to produce most of the extra £112,555 a month.

At £10 a place at the table per person per month Bleepa needs to sign up approx 11,255 medical staff as soon as possible.

Assuming no sign ups before 2020 (you know the reason for that Duc even if Hazl doesn't acknowledge it) then Bleepa needs 14,069 sign ups from Jan '20 onwards to replace likely current cash burn.

Hope I've got all that right Duc. Very busy at present and not had time to double check figures.

Now I don't know how many medical people there are in an average sized UK hospital but if anyone else out there does it won't take much time to figure out how many hospitals need to sign up to Bleepa / TexRAD to get the £1.9 million outlay recouped.

[hazl] 09/9/2019 20:20

Good man Pete!

[ducatiman] 09/9/2019 20:20

Pete, they announced bleepa, share price went to 2p. Day before leak mms would give you 1.77 for 500k. Next morning they wouldn't take jack. Anyway you seem to have missed my point, with £800k cash why go ahead with an extremely dilutive placing that was leaked? Maybe they didn't have £800k, if not where has it gone? We don't know do we Pete?

[petekand] 09/9/2019 20:04

Hello Duct
You say deeply discounted but for some balance the price was languishing at around 0.60p a few short weeks before the placing.
So to get it away at double this price is some achievement.

[hazl] 09/9/2019 19:56

I personally think you are determined to find something negative and are actually finding it difficult!

The share has actually been climbing since June with consistent steps apart from the overshoot a month or so ago.


In fact it looks better than it's done for ages.

[ducatiman] 09/9/2019 19:40

Obviously I will get stick for saying this and I am mindful that there appears to be a new regime at fdbk, however, I would really like to know why they were so desperate for funds that they went ahead with a very deeply discounted placing on the back of a very embarrassing leak. Consensus says they should have had circa £800k cash. So! No immediate cash requirement. Certainly more than enough to continue bleepa development untill contracts came in, at which point development funds could have been obtained at a much less dilutive point. My fear is that they had blown the cash but kept it quiet. Why not tell us the cash position? Hopefully all will be explained soon. Maybe they needed the cash in order to be in a secure position to sell bleepa. Who knows but hopefully there will be more transparency soon.

[petekand] 09/9/2019 17:49

Yes but how many did they forward sell on the rally to 2p?
10-20 days of similar trading as today and then they may be really gone.
News straight after please (in an ideal world).

[ged5] 09/9/2019 17:26

4 x500K and a 1.575M trades today

Over 4M gone today plus those from the past few days. Might not be many left.

Will they regret it? Will the share price move on up now? Questions.

[ged5] 09/9/2019 17:10

Has anyone been on the Feedback website today. There have been several changes including the links in the tweet. I'm about to change the link in the header to this:-

[ged5] 09/9/2019 16:30

Good post.

I think that FDBK is about to come into fashion.

[hazl] 09/9/2019 16:21

I certainly agree that investment decisions ought to be based on Company RNS announcements and facts on the wider environment,sector trends and so on, rather than anything anybody says on a bb .
No point investing in something that just about to go out of fashion for example....just look at the precious metals stocks for evidence of that over the years.

[hazl] 09/9/2019 15:25

I thought lalji's post was quite interesting

lalji027
9 Sep '19 - 07:57 - 2847 of 2900

[hazl] 09/9/2019 15:24

I reckon there must be some news tidy2 for that flurry of activity.

[hazl] 09/9/2019 15:08

People managed to ignore you on IQAI as the share-price rose and rose. I think we can do that here.

[tidy 2] 09/9/2019 15:08

Started with Bleepa tweeting.

[lr2] 09/9/2019 15:04

Feedback is being ramped to high heaven on Twitter and you think sentiment has turned because I believe you are a short term holder.

Get a grip on yourself Hazl.