Fitbug Share Discussion Threads

[recordz] 18/1/2017 13:37

Madness here again.

[chesty1] 18/1/2017 13:36

More news to follow....

[trt] 18/1/2017 13:35

The market loves the announcement this morning, I wonder if it has also got a whiff of further imminent announcements

[chesty1] 18/1/2017 13:34

They cannie stop it capin.

[tradermick1] 18/1/2017 13:28

I'm in shock that it's still trading at highs of the day.

Just shows you how mad aim is, people refuse to touch drifting stocks but will quite
happily pay 3 times the price the next day if they think they can make a quick buck.

The company will almost certainly take advantage and raise funds on the back of this

[trt] 18/1/2017 13:27

The market loves the announcement this morning, I wonder if it has also got a whiff of further imminent announcements

[chesty1] 18/1/2017 13:24

300% is certainly looking to be on the cards and who knows where tomorrow after the evening tipsters have had a look.

[miahkaysor] 18/1/2017 13:23

Can we do 500% in a day like last time???

[h2owater] 18/1/2017 13:23

Cap only 6.3mCTAG cap 29.5mLong way to go!

[ch4p_85] 18/1/2017 13:20

200% is breached!

[chesty1] 18/1/2017 13:18

Even after this rise I cannot buy online.

[olly1972] 18/1/2017 13:00

Moving higher. .........

[mr hat] 18/1/2017 12:51

Fitbug shares more than double as it announces new customer win

10:10 18 Jan 2017

The fitness tracking group has inked a deal with a global financial services firm in Asia

Business are starting to take the health of their employees more seriously

Fitbug Holdings PLC’s (LON:FITB) move into the corporate wellness sector is continuing to pay dividends after the group announced a new customer win in Asia.

The unnamed global financial services group – which has around 14,000 employees – will use Fitbug’s digital wellness services to help maximise workforce performance and productivity.

London-based Fitbug has secured a one-year corporate wellness programme deal which includes ongoing service revenue as well as an order for 14,000 devices.

The devices were shipped out last month and the programme is slated to start early this year.

Fitbug is benefitting as businesses start to take the health of their employee’s more seriously in order to reduce absenteeism and risk of chronic illness, as well as to improve employee engagement.

Shares in Fitbug went through the roof on Wednesday morning, up more than 110% at 9am to trade at 0.35p.

Shares were up by almost 150%, or 0.24p, on Wednesday morning and were changing hands at 0.41p a pop.

Not the easiest of rides

Last year was a busy one for Fitbug as it looked to get its finances and operations back on track following a disappointing run during which losses continued to widen.

The company changed tack and started to cut back on its “unsustainable” retail business and focus on opportunities within the corporate wellness sector last summer.

Just before that, it had settled a long-running dispute with fellow health tech group Fitbit (NYSE:FIT) which had been costing hundreds of thousands of pounds in legal fees.

Fitbug, which was established two years before Fitbit in 2005, argued that the similarity of the names created confusion and was damaging to its business and brand identity.

The two settled out of court in a confidential agreement in February 2016.

With a new strategy and freed from the legal issues that had clouded the business, Fitbug set about securing the finances to bring about a new dawn for the company.

Its original founders, David Turner and Allan Fisher, agreed to convert an £8.4mln debt owed by the company to them into shares, while it also raised a further £2.6mln through another share issue.

In its interims back in September, the company posted a loss of more than £1.6mln, although this was around half of the losses accrued in the same period a year earlier.

-- Updates for background info and share price --
[...]

[miahkaysor] 18/1/2017 12:44

This share will not surprise me if it reaches 1p today!!!!It's done it before!ONWARDS and UPWARDS!!!

[ch4p_85] 18/1/2017 12:35

A company with 10,000 employees is not to be sniffed out. It will send ripples out into the market. I think fitbug has found its nieche

[chesty1] 18/1/2017 12:15

Something tells me this is going so much higher! Gutted I only managed to grab a few at 0.22p.Be lucky to all.

[digger2779] 18/1/2017 10:51

I welcome the news but thought they had stopped selling the wearables?

[mudbath] 18/1/2017 10:38

I was also surprised(very) to see the details being made available Dusseldorf.
Pleasing though to have timed things right with FITB and to have extracted my profits.
I did the same in 2014,but lacked ambition and missed out on the spectacular part of that particular spike.
Good luck with your holding.

[wisteria2] 18/1/2017 10:29

robfitz
18 Jan '17 - 10:16 - 101 of 104 0 0

Surprised to see the Spike, still need it to double from here!!!
Oh well these have been bottom drawer for ages, may have to move them up a drawer ;-P

Just moved mine up one LOL!!!

[dusseldorf] 18/1/2017 10:28

Mudbath - it's a bit off the company listing a private document on their webspace. We shouldn't really be seeing that. Perhaps contact the company about it - I would not want my contract in public domain.

..but note £180k is for 32 hrs per week only.

[mudbath] 18/1/2017 10:21

It is also out of line in comparison to Gudmundson's contracted benefits,imo.
hxxp://www.fitbugholdings.com/pdf/AG-Employment-Contract.pdf

[phil1969] 18/1/2017 10:21

The package for the CTO will be based not on passed revenues but on current and expected sales/earnings. So perhaps this package reflects where FITB expect to see themselves in a few months.

[mudbath] 18/1/2017 10:16

isaready
The salary package for the CTO might not be excessive;its just that FITB cannot afford to pay on this scale,based on current revenues.

[robfitz] 18/1/2017 10:16

Surprised to see the Spike, still need it to double from here!!!
Oh well these have been bottom drawer for ages, may have to move them up a drawer ;-P