Fitbug Share Discussion Threads

[mister md] 21/9/2016 13:14

"Fitbug" and "winner" - unlikely combination. Seems any old sh*t is pumped & dumped these days ...

[trt] 21/9/2016 13:08

Looks like the trend is continuing - run your winners I say !!

[trt] 21/9/2016 12:05

Looking good !!

[dusseldorf] 21/9/2016 12:03

Welcome to new lemmings(!)

£1.5m lost in H1, likely to be £1.5m in H2. Based on projections has enough cash to survive for 12 months - subject to projections on new revenues being accurate, if they are not, well good luck(!).

£1,939,000 operating expenses in H1(!)

£1m loan notes outstanding at 0.25p/share

balance sheet will be cleaner when reported June 2017, but will still be loss making and out of cash.

Besides some form of reverse acquisition in the wellness arena to utilise tax losses, I see no way to recovery outside of trading the bounces. The new corporate wellness deals are simply off-setting the loss in revenue from retail but ultimately leave the company loss making and valued at £5m inc. conv loans - really?

[si_9125945] 16/9/2016 14:26

I am hoping that Nathan Kirsh reverses himself into a rebranded Fitbug !
After all, he already controls the equity.

[dusseldorf] 16/9/2016 13:08

They also posted for a marketing co-ordinator. I'd be concerned by their blurb:

'As Fitbug has totally restructured and is now back in start-up mode, we need people with energy, drive and optimism to contribute meaningfully to the team during this time of intense growth. '

I'm not sure people have invested to be involved in a company effectively 'back in start up mode'. It sounds like they lost everyone and are having to rebuild from the ground up.

Hiring demonstrates optimism, only if you are creating new positions - these sound like replacements for roles that should already exist.

Interesting to see if they will survive, i can only see that given debt if they reverse something in that actually makes money or has a usp

[brando69] 14/9/2016 17:39

Another Tara dog

[rameshh] 14/9/2016 17:29

Very interesting post by the company's CEO on social media...Anna GAnna G – ?@annagudLooking for a strong & commercially driven partnership manager to join our awesome #Fitbug team https://www.linkedin.com/jobs/view/196640398 ... #techJobs #LondonAnna G RetweetedFitbugSep 8Fitbug ?@FitbugActiveMillennials and consumption, with @healthclubmag @annagud @Cadmeister @PureGym & @eGymUK. #notwics Embedded imageAnna GAnna G – ?@annagud@FitbugActive seeing lots of known faces at #NOAH #tech #LondonTech #investment #networking https://www.swarmapp.com/c/jSgiXPfX2Io Looking positive along with the share trading volume picking up...nearing time to invest it seems. Time will tell.Good luck to holders I will wait for now.

[rameshh] 04/9/2016 20:50

...evening all, forgot to mention interims may be due on the 30th Sept so maybe a trigger point to the share price either direction.

[si_9125945] 01/9/2016 09:48

a) there is something bigger going on completely unrelated to legacy fitbug software/product i.e. a reversal of another business
or
b) it will go into administration

Spot on Dusseldorf !
Whether "a" or "b" proves to the one,it will have a dramatic effect on the share price

[rameshh] 31/8/2016 18:28

Good evening, Dusseldorf hindsight is brilliant. If your preference is to post on boards and not trade them each to their own I guess.I am just stating that the recent fundraising surely creates more contracts. The CEO and especially the chairman would not want to tarnish their careers.Maybe the bad luck will soon run out here. I'll wait and see but I have a feeling it will be positive soon or bought out/taken private. Good luck and imho

[dusseldorf] 31/8/2016 07:47

rameshh - I've posted here as I was once interested in buying, but have been posting facts since it's valuation lost touch with reality. If I have saved people some money, all well and good. I've been negative from 20p down, to 0.25p - Do you think, with hindsight, that I was not correct for nearly 2 years in the face of ramping drivel?

I've never been short on this.

The numbers above should terrify any normal investor as the company is technically insolvent, there has been no trading update (positive), so the only logical conlcusions are:

a) there is something bigger going on completely unrelated to legacy fitbug software/product i.e. a reversal of another business
or
b) it will go into administration

[rameshh] 30/8/2016 22:56

Dusseldorf, I sincerely hope you are making money on your short, you seem to do a lot of analysis which is negative.I just have a feeling the recent fundraising may turn into more contracts and maybe a new product.The CEO on Twitter seems fairly in a good mood and positive, which is understandable as a leader, but she is not panicking at all. Maybe this turn around strategy may bring some good luck...will need to wait until I invest but it looks interesting times ahead indeed.Good luck to all holders.

[dusseldorf] 22/7/2016 16:22

Following Admission, the Company's total issued share capital will comprise 1,231,366,968 New Ordinary Shares with voting rights.

...nice(!) 1.2bln shares

Market cap of £3m, and still owes £2m and loses £4m/year....

Lets recap:
Revenues for the year ended 31 December 2015 GBP1,259,000
Loss of GBP6,303,000 (2014 Loss GBP3,761,000)
Cash circa GBP2,500,000-GBP2,750,000 (factoring in cash burn/expenses from fund raise)
Cash burn GBP300k-400k/month

The question is why bother.

[twodegrees] 21/7/2016 16:41

clocktower...they purchase small amounts as the total shares that had been put out to private investors was not taken up...so to stop it looking like a disaster they buy a small amount each for the headline and nothing else.

[clocktower] 21/7/2016 16:06

Directors put their hands in their pockets for petty change.

[twodegrees] 15/7/2016 15:06

surely if this is sub 0.25 then it is a good time to buy as the placing shares are all being issued later in july at 0.25p

[bibdaddy] 09/7/2016 17:55

hxxp://www.lsesharetalk.com/share-news/anna-gudmundson-ceo-fitbug-holdings-plc/

[stefanzygmunt] 06/7/2016 22:52

Market cap of £660,000 and she wants to borrow how much? For what? She better put some good news out quick or it may well be over!
Contract news or second quarter?

[knigel] 06/7/2016 20:32

This is falling faster than the pound !

[mudbath] 06/7/2016 19:39

Yep twodegrees,I did indeed.

[twodegrees] 06/7/2016 18:55

mudbath you mean 0.15 to 0.20 level then just imagine all those who have signed up to buy at 0.25p they would be well cheesed off

[mudbath] 06/7/2016 16:13

If I were part of the garden party seeking to gain maximum leverage over this company via total shareholdings,my strategy would be to drive the share price below the 25 pence offer level,thus ensuring a lesser take up by potential "investors".

It could be that such a plan is being executed.
On this basis,it would not surprise me if the share price were to be soon "managed" downwards To the 15-20 pence level.

Really interesting imo.

[mudbath] 05/7/2016 09:00

It will be interesting to see how many shares will be bought in FITB via this crowdfunding venture.

"AIM-listed Fitbug looks to crowdfunding to raise capital for corporate wellness market push

SyndicateRoom offers retail investors chance to take part in Fitbug's £2.6m fundraise
Announcement follows SyndicateRoom's recent participation in FTSE 250 fundraise
Funds will support wearable tech company's renewed focus on delivering digital wellness products and services to the B2B market

Cambridge, UK - 5 July 2016 - SyndicateRoom, the equity crowdfunding platform, is offering its members the chance to take part in a share offer for AIM-quoted technology developer and digital wellness pioneer, Fitbug. SyndicateRoom will be the sole retail distribution agent for the fundraise and will offer EIS (Enterprise Investment Scheme) shares, on the same terms as institutional investors.

Fitbug plans to raise £2.6 million during this raise. £852,000 has already been raised through institutional investors, with up to £1.76 million to be raised via SyndicateRoom and other investors at the same issue price. The funding round is expected to close by 25 July 2016.

In August 2015, Anna Gudmundson was appointed Chief Executive of Fitbug. She is currently executing a turnaround drive for the business, moving the company's focus away from delivering wearable devices to an over-saturated B2C market, and instead, capitalising on the growing global corporate audience for digital wellness. The US corporate wellness market is forecast to grow 8.4% annually over the next 5 years to $12.1 billion, which demonstrates the potential in other markets. Digital wellness initiatives have proven to lead to reduced corporate costs associated with absenteeism, and to increased employee productivity.

Fitbug has experienced an encouraging start to trading in 2016 with Q1 B2B sales in excess of £400,000, a significant increase over like for like sales in Q1 of 2015, providing validation for the new strategy. Furthermore, Fitbug anticipates a strong pipeline for the corporate market, forecasting in excess of £1.1m over expected contract lifetimes. Fitbug has identified a low cost entry point to market and at the end of April 2016, the company had approximately 100,000 users of its digital products.

SyndicateRoom will provide Fitbug with previously untapped retail demand, in support of the company's capital needs. As the only crowdfunding platform to have intermediary status with the London Stock Exchange, SyndicateRoom is the only alternative investment platform offering retail investors access to both the public and private equity markets. Most recently, SyndicateRoom members participated in 3i Infrastructure PLC's £385m share placing, proving the platform is well placed to promote a diverse range of equity funding rounds, from early stage through to public companies.

Anna Gudmundson, Chief Executive of Fitbug Holdings Plc, said, "Having assessed a range of finance options to support our short-term and long-term working capital needs, we were particularly excited by the prospect of offering new shares to investors via SyndicateRoom. With its recent membership of the London Stock Exchange, SyndicateRoom is the only platform that could effectively distribute our shares direct to crowdfund investors, enabling us to expand the number of owner-advocates for our business as we focus on becoming a leader within this space by delivering an innovative app-based technology to enhance employee wellness."


SyndicateRoom CEO and co-Founder Goncalo de Vasconcelos said, "We're thrilled to provide our members the opportunity to take equity in another innovative and high growth business. In times of uncertainty and market volatility, companies will be looking outside of the traditional lending sector. Today's announcement highlights the importance of retail investors as an ever growing number of publicly listed companies are using SyndicateRoom to tap into retail investors demand. SyndicateRoom still remains the only crowdfunding platform that provides retail investors with direct access to company equity at the same economic terms as institutional investors."

Tom Hinton, head of capital markets, SyndicateRoom commented, "Fitbug's decision to raise via SyndicateRoom demonstrates our unique ability to offer interesting capital market opportunities that can't be found elsewhere by retail investors. It's fantastic to see the platform helping companies access a broad pool of demand and market capital raises in such an innovative way."

SyndicateRoom provides its members with access to the entire funding journey of growth businesses, from early-stage crowdfunding rounds through to high-growth IPOs and discounted placings."