Fitbug Share Discussion Threads

[tradermick1] 18/1/2017 08:49

Usual Aim

Nobody wanted to pile in when unloved and even for the first time ever offering stock
under a bid price. But now on the spike everybody wants to buy 50% higher etc etc

Well done mudbath, worth cashing in the 0.155p ones and then buying back when the
herd moves on.

[twodegrees] 18/1/2017 08:46

Fitbug has secured an initial 1-year corporate wellness programme, which includes ongoing service revenue, together with an order for 14,000 devices. The devices were shipped in December and the programme is rolling out early this year. The client wishes to remain anonymous at this time.

so they win a contract and also have ongoing service revenues...that is very good.

Considering funds raised before were at 0.25p they must have had confidence that this was going to pick itself up...however I do wonder why the share price dropped so low if these items were shipped in December...they obviously knew something was in the pipeline yet never notified the stock market ??????????

[chesty1] 18/1/2017 08:44

Picked up a few @0.22p potential recovery is huge.

[knigel] 18/1/2017 07:13

RNS out - new contract including 14000 devices - that's better.
Customer does not wish to be named.. not CTAG is it? :-)

[rameshh] 17/1/2017 19:00

Evening all,

So thought I'd read up on the history before making any purchases, in essence:

Paul landau and his weak team (some may recall the adidas man?) failed to make the retail market work, failed to create any meaningful marketing and failed to control costs, including the poorly timed legal battle with Fitbit.

Prime example, yesterday a small company promoted via twitter a competion:

U Choose Contracts ?@UChoosecontract
It's #BlueMonday so we’ve decided to run a #MarvellousMonday #comp! Like our page & #RT to #win a FitBug! T&Cs apply hxxps://goo.gl/E1ZJUv

Retweeted 150+ times...note the company itself has less followers itself and secondly I bet you could add up fitbug's retweets over 2016 and may struggle to get to 150 retweets in total!

Anna gudmundson, has successfully launched her idea, kiqplan. Successfully fundraised, reduced debt and cut costs via outsourcing overseas. Successfully launched a partnership with a sports celebrity, something Paul failed in. Successfully restartup the company as a wellness company, away from retail which did not work out.

Now she just needs to successfully gain contracts and add revenue or I can see this being acquired soon for it kiqplan app product alone. We all know it is the app that holds value not the wearable. The average smartphone counts steps theses days!

Imo, dyor. #buybottonready

[lovaine] 16/1/2017 19:11

Wow that was some price to get in at.
There are none left unless you are willing to pay a bit extra.

[mudbath] 16/1/2017 15:26

Well I am adding at .155 in some size,emboldened by the fact that one can currently sell several million at .51;the first time that this has been possible in several weeks.

[dusseldorf] 16/1/2017 15:01

it7 - I suspect the former. Hybridan were on a gravy train of commission with all placements, fund raises, RNS's and loan issues. I'm certain Daisy45 who posted 'bought some more' 20x here from 19p downwards worked for them - basically a bucket shop. New broker suggests some form of corporate activity. I'm here for the sale of Fitbug group ltd (en-mass) and reverse of Holmes place international into the shell (my speculation only, it's still a risky 'investment'). Wouldn't surprise me if Hybridan held stock and are dumping now.

Whether fitbug is sold as distressed or in recovery does not really concern me.

[itr7] 16/1/2017 14:37

I'm sure that inverted market would revert to normal if you tried to do that trade in any size. New NOMAD is interesting - wonder why the last one is no longer working with Fitbug - because Fitbug asked them to leave or because the NOMAD no longer wished to be associated with the company?

[dusseldorf] 16/1/2017 13:21

mudbath - indeed - you can buy 50,000 at 0.1595 and sell 50,000 at 0.16 - not exactly what I'd call an orderly market as the prices are the wrong way around. So buy and you're 25p in profit from the get go - on paper ;)

In my view one MM has a large sell order to work.

[mudbath] 16/1/2017 11:29

Kendonagasaki-You pays your money.

At least the appointment of SPARK as Nomad to Fitbug has coincided with an adjustment of the share price;now more reflecting the prices available.
As Dusseldorf points out though,one can buy this morning at 0.1595,so a little further markdown would be more reflective of the actuality .
Where next ?

[kendonagasaki] 16/1/2017 11:26

This about to go under.Unlucky all!

[twodegrees] 16/1/2017 09:25

SPARK Advisory Partners Limited was formed in early 2012 by a group of senior corporate finance directors previously working in a large corporate finance and broking business.

Our team of senior professionals is dedicated to providing high quality, timely and considered financial advice on a range of issues to corporate and private equity clients. With over 100 years of corporate finance experience, the team has a long track record of delivering value added advice to clients both on and off market.

In today's turbulent world, existing and potential clients can be assured of the consistency and stability of service we provide, and rest in the knowledge that the team that they expect to work with is the team they will work with. Clients are guaranteed a partner-led approach.

-Independent corporate finance specialists offering a full suite of advisory services across the capital (debt & equity) spectrum.

-Expertise in IPO's for prospective Main Market, AIM and PLUS companies.

-Impartial advice to companies and their directors, independent of brokers and investors - we will work with a range of brokers which allows us to match the most appropriate team to each opportunity.

-Access to a wide and varied network of brokers, intermediaries, market professionals and investors, enhancing our ability to meet clients’ requirements.

-Each of the Founding Partners is a significant shareholder in the business, along with private equity backer SPARK Ventures Limited.

Website

Industry
Financial Services
Type
Privately Held
Headquarters
5 St John’s Street, Farringdon, London, EC1M 4BH United Kingdom
Company Size
1-10 employees
Founded
2012

[dusseldorf] 16/1/2017 09:24

Can actually buy BELOW bid, never seen that before. Wouldn't have thought that was legitimate action for MM's?

[twodegrees] 16/1/2017 09:15

change of advisor and it drops over 10% well that bodes well...Not!!!!

[knigel] 11/1/2017 20:30

Well .. a first for everything

[mudbath] 11/1/2017 19:51

Well if this is cost cutting .....

"Fitbug are seeking to recruit a Chief Technology Officer for a Marketplace Scale-Up,encompassing a £150k++ package."

Other AIM companies manage to finance a full BOD on less.

Still,the package dovetails nicely with the general largesse that Fitbug demonstrates with pay levels,as seen for example in 2015, when just 27 staff mopped up £2,063,000.

[ravin146] 11/1/2017 19:20

Dt101010 are you there?

[mudbath] 11/1/2017 17:30

Thanks Dusseldorf.

I have been attempting to articulate the premise of your above posting for some time now,so your contribution to this thread was most welcome.

Let us hope that we have timed our recent investments in FITB to perfection,although it is worth mentioning that the quoted spread is somewhat wide of the mark, with the actuality being that one can buy at .17 pence(up from .164) whereas,unsurprisingly, no bid is currently available unless one is prepared to accept sub .17pence.

Fact can be stranger than fiction though and I look forward to the next chapter in the Fitbug saga.

[dusseldorf] 11/1/2017 14:50

mudbath - I'll migrate across to this thread.

I've turned buyer after 2.5 years of being negative. My posts below:

Dusseldorf 11 Jan '17 - 10:02 - 8504 of 8506
975k purchase from me today (interestingly I bought at bid price 0.17p, when spread is 0.17-0.2). Now holding just under 2m at 0.17 average. That will do until FY results out IMO showing exceptional shift in balance sheet fortunes.

Dusseldorf
11 Jan '17 - 10:37 - 8505 of 8506
I would read this again very carefully from RNS (29/06/2016 06:01). It's all very incestuous if you ask me, but perhaps the 4x London clubs are not the only speculative (mine) target of the concert party to actually make money here - Holmes Place International(80x clubs). They have grand plans to launch 20 new boutique clubs by end 2017 where is money coming from (IPO?)?


NW1 is an investment vehicle for the children of Fisher and Turner - I'm still not convinced they have written off £10m+ in FITB:
Concert Party

The Concert Party comprises NW1, Kifin, Prime Interaction, Allan Fisher, David Turner and members of their immediate families. Allan Fisher and David Turner are both founders and were (until 28 June 2016) directors of the Company. They have other business dealings and experience in health clubs with Mr Fisher being one of the founders of Holmes Place International ("HPI") and Mr Turner being a co-founder of LA Fitness. Mr Fisher continues to be a director shareholder in HPI and Mr Turner is also a director of HPI, representing the interest of the independent shareholders.

NW1 is an investment vehicle with the adult children of Mr Turner and Mr Fisher being the two shareholders of that vehicle. In addition to its equity investment in the Company, in recent years NW1 has provided investment into the Company by way of loan notes to the sum of GBP8,239,000.

Kifin is a Kirsh Group subsidiary. In 2007, HPI had the opportunity to acquire other elements of the old Holmes Place Europe business and Kirsh Group provided the funding for that acquisition and became a 30 per cent. shareholder in HPI. The Kirsh Group subsequently made a further investment into HPI taking its stake to 49.9 per cent.

Over recent years, Kifin has provided investment into the Company by way of loan notes to the sum of GBP1,000,000.

Prime Interaction is an investment holding company whose directors are Barry Stiefel (who is also the manager of the Kirsh family office) and Robin Fisher. Mr Fisher has, in addition, a distant family connection with Mr Kirsh.

The aggregate interests of all the members of the Concert Party currently comprises 82,474,999 Ordinary Shares representing approximately 29.30 per cent. of the Existing Ordinary Shares. In addition, members of the Concert Party hold convertible loan notes which can be converted into 53,333,334 Ordinary Shares in the Company.

Following completion of the Proposals, the aggregate interests of all the members of the Concert Party will be between 778,874,999 New Ordinary Shares and 1,662,901,324 New Ordinary Shares (respectively between 38.5 per cent. and 89.3 per cent. of the Enlarged Share Capital), depending on the quantum of funding to be provided by NW1 under the Underwriting Agreement.

Dusseldorf 11 Jan '17 - 12:02 - 8506 of 8506
In follow-up to above, in Feb 2016 pg 36:


Holmes Place CEO Jonathan Fisher (son of Allan Fisher) and 50% holder in NW1 investments said it was shortly time to bring Holmes Place and (new) Evo concept to the UK nearly 1 year ago.

In short, I think Fitbug is a zombie co. but Fisher and Turner (Fisher in conjunction with his son at NW1) plan to re-enter the UK with Holmes Place/Evo and my money is on FITB being the entity (listing vehicle) to achieve it hence all the ridiculous funding being thrown at it by NW1. That would be a deal worth several hundred million.

[mudbath] 11/1/2017 13:36

Dusseldorf poses the question,
They(Holmes Place International(80x clubs)" have grand plans to launch 20 new boutique clubs by end 2017 where is money coming from (IPO?)?

I do not see this as any problem, for there is substantial background wealth, both of corporate and personal nature, in the background.

What we look for is for some of these assets to be channelled,by whatever corporate machinations,toward Fitbug.

Well worth a punt at these levels as Dusseldorf himself has now belatedly identified.
Timing is everything and although we might have to wait yet a while for any announcement,there could well be an upward trend in the share price established in the intervening period.
imo.

[dusseldorf] 11/1/2017 12:02

In follow-up to above, in Feb 2016 pg 36:


Holmes Place CEO Jonathan Fisher (son of Allan Fisher) and 50% holder in NW1 investments said it was shortly time to bring Holmes Place and (new) Evo concept to the UK nearly 1 year ago.

In short, I think Fitbug is a zombie co. but Fisher and Turner (Fisher in conjunction with his son at NW1) plan to re-enter the UK with Holmes Place/Evo and my money is on FITB being the entity (listing vehicle) to achieve it hence all the ridiculous funding being thrown at it by NW1. That would be a deal worth several hundred million.

[dusseldorf] 11/1/2017 10:37

I would read this again very carefully from RNS (29/06/2016 06:01). It's all very incestuous if you ask me, but perhaps the 4x London clubs are not the only speculative (mine) target of the concert party to actually make money here - Holmes Place International(80x clubs). They have grand plans to launch 20 new boutique clubs by end 2017 where is money coming from (IPO?)?


NW1 is an investment vehicle for the children of Fisher and Turner - I'm still not convinced they have written off £10m+ in FITB:
Concert Party

The Concert Party comprises NW1, Kifin, Prime Interaction, Allan Fisher, David Turner and members of their immediate families. Allan Fisher and David Turner are both founders and were (until 28 June 2016) directors of the Company. They have other business dealings and experience in health clubs with Mr Fisher being one of the founders of Holmes Place International ("HPI") and Mr Turner being a co-founder of LA Fitness. Mr Fisher continues to be a director shareholder in HPI and Mr Turner is also a director of HPI, representing the interest of the independent shareholders.

NW1 is an investment vehicle with the adult children of Mr Turner and Mr Fisher being the two shareholders of that vehicle. In addition to its equity investment in the Company, in recent years NW1 has provided investment into the Company by way of loan notes to the sum of GBP8,239,000.

Kifin is a Kirsh Group subsidiary. In 2007, HPI had the opportunity to acquire other elements of the old Holmes Place Europe business and Kirsh Group provided the funding for that acquisition and became a 30 per cent. shareholder in HPI. The Kirsh Group subsequently made a further investment into HPI taking its stake to 49.9 per cent.

Over recent years, Kifin has provided investment into the Company by way of loan notes to the sum of GBP1,000,000.

Prime Interaction is an investment holding company whose directors are Barry Stiefel (who is also the manager of the Kirsh family office) and Robin Fisher. Mr Fisher has, in addition, a distant family connection with Mr Kirsh.

The aggregate interests of all the members of the Concert Party currently comprises 82,474,999 Ordinary Shares representing approximately 29.30 per cent. of the Existing Ordinary Shares. In addition, members of the Concert Party hold convertible loan notes which can be converted into 53,333,334 Ordinary Shares in the Company.

Following completion of the Proposals, the aggregate interests of all the members of the Concert Party will be between 778,874,999 New Ordinary Shares and 1,662,901,324 New Ordinary Shares (respectively between 38.5 per cent. and 89.3 per cent. of the Enlarged Share Capital), depending on the quantum of funding to be provided by NW1 under the Underwriting Agreement.

[dusseldorf] 11/1/2017 10:02

975k purchase from me today (interestingly I bought at bid price 0.17p, when spread is 0.17-0.2). Now holding just under 2m at 0.17 average. That will do until FY results out IMO showing exceptional shift in balance sheet fortunes.

[rameshh] 10/1/2017 18:57

Evening all...Positive coverage for fitbug the UK pioneer in wearables and wellness programs.http://www.healthclubmanagement.co.uk/digital/index1.cfm?mag=Health%20Club%20Management&codeid=31473&linktype=story&ref=n&issue=2017%20issue%201Imo, dyor. #buybottonready