Ft Fbt Discussion Threads

[bonio10000] 07/6/2018 23:30

The need far less than an EBITDA of 5. If they hit £5m that will imply such growth that a year one EBITDA of 20 then falling to much less in year 2 will justify £100m.Truth be told, of they ping a profit of £3m that might do it.They is also no real interets, tax or depreciation, so the EBITDA measure is good as a P/E measure and the P/E measure is usually a step higher, for obvious reasons.

[aimster4400] 07/6/2018 22:41

The issue for me is the dilution impact in the valuation. At 55p the company has a market capitalisation of £100mn. To be valued at 100mn they'd need an EBITDA of 20mn. Is £5mn anywhere near enough to get them there? I doubt it. The business is too diluted now, unless IM has something up his sleeve. Just my opinion

[bonio10000] 07/6/2018 20:55

Don't worry.Nickb says fundamentals don't matter.Even if they lead to a 35 per cent dilution.

[paulcon1] 07/6/2018 17:12

Bonio

Just thinking... If FBT posted 2 x RNS's (100k) per month until the end of Dec.... FBT would still post a loss of £1m for 2018...

I am a massive fan of Mr Streater for his inventor/creator skills but that is a frightening stat after 19 years

GL

[bonio10000] 07/6/2018 16:43

Not just a placing.A 35 per cent dilution.

[paulcon1] 07/6/2018 15:41

Bonio

Ha ha.... Yep

I just find any praise heaped on the current CEO is unjustified and premature .. He has, or will, have overseen a placing at 5p, in 10 months and steadied a leaking ship...

The events of this week may prove pivotal, time will tell and let's hope a positive turning point for all shareholders...

GL and IMHO

[bonio10000] 07/6/2018 15:25

Thanks m_k

[bonio10000] 07/6/2018 15:09

Isn't that a bit like working out which guy you'd pick to sleep with the wife?

[paulcon1] 07/6/2018 14:24

If Cash burn has gone up, Year on Year, then Aziz, as it stands was more effective than the current CEO..... *

Debate?

*Based on absolutely no evidence

[_m_k] 07/6/2018 14:23

hi bonio

i use a mix of android cameras and eva to take video as they auto upload to the cloud.

i stopped shooting anything on a camera a long whilst back, had my fill of lugging content off a memory card (even though the quality is better).

with android i can't easily edit the content together but google do a reasonable job of auto-editing content and bouncing it back to you

what would be GREAT if they could bounce that EDL to users via an app like captevate so i can make adjustments

eva works for me although there are some technical bugbears (i don't expect it's being actively developed).

with eva i can edit the stuff properly when required via the forte editor

i haven't used captevate for a good while as the integration didn't work with eva so well so we are into the whole uploading scene (not if i can avoid it)

the eva/captevate projects i expect helped with the whole technology move to java script and if not in active use by any clients in some form another are held on-ice (if and when a use case pops up)

commercially as we know they are a 'non sequitur'

mk

[bonio10000] 07/6/2018 14:21

Thanks Mcsean.At least Aziz was a good guy.Never bought a share though.

[mcsean2164] 07/6/2018 13:39

Cab1,

Glad to see IM is delighted with a massive dilution of Aziz era investors >10p and a dreadful raising price. He got in at 5p and below so I guess that's why he's happy

Aimster,

Agree to a large degree about Aziz, he gave it a go but not sure if he was the right fit.

Bonio,

There are two active users on eva (m_k_ and SS). I was active but it stopped working on my phone.

I expect there are very few people active here :

[nickb] 07/6/2018 13:21

Cabi

Great comment from Ian thanks for posting it.

Oversubscribed
Sounds like some new institutional investors buying.

Exciting times as Ian says.

[bonio10000] 07/6/2018 13:04

I'm sure he's happy.

As for Aziz - useless.

Called it at the time and was correct.

[cabi1] 07/6/2018 12:22

IM LinkedIn.

As you may have heard we have recently completed an oversubscribed round of funding. A new, but thoroughly enjoyable, experience for me. Meeting many institutional investors and telling them our story. I would like to sincerely thank existing shareholders for their increased backing and new investors for their understanding and belief in the global potential of Blackbird - the only technology designed for manipulating video in the cloud. Very exciting times for us at Forbidden!

[nickb] 07/6/2018 11:25

I suspect a lot of the new issued shares are going to strong City hands which means we will get market support.

If the shares are in the hands of private investors the City has no interest in backing the company so we may find this latest fundraising gets the City on board ready for the high growth phase that is expected now.

Everything is in place

IMHO

[nickb] 07/6/2018 11:18

Yes it’s large City investors who need courting not private shareholders who vary greatly in ability and strength to back a vision type company, something I have learned from reading some posters here.

Also many AIM punters just want to trade News spikes 5 days of no news and they are kicking off, seen it all before.

So you have to back the vision or exit imho Moaning is the worst waste of time.

The guys at FBT want success.

[nickb] 07/6/2018 11:09

Invest360
Absolutely.

The reality is success is built on a series of failures that when you look back they contribute to the success.

Eva and Captevate technology is in our new products they are also part of our IP
Any large media company could quickly use eva technology for their own social video app.

FBT just don’t have the money to take on the global consumer market which probably needs at least $100m.
Got to be a US company to get that backing from Silicon Valley venture capitalists. AIM can’t do it!

So it’s B2B as the company has informed the market.

[invest360] 07/6/2018 11:03

Thanks for your kind words, Paulcon1 !!
I guess I'd call myself an open-minded skeptic! I seem to be posting quite a lot having not felt the need for some time. I hope I'm not dominating the thread too much.
My view on private shareholders and share price in general is that the only thing that will determine the share price in the long run is success of the business. Aziz spent a good deal of time, effort and money on keeping private shareholders happy. Indeed, there was a good deal of excitement back then and the share price followed. But Aziz was selling optimism (backed with reasons for it), not results. But results will out - as we can see in the reign of both AM and IMcD. I believe I'm right in saying that the rules around shareholder communications have been tightened up a lot recently and if I am correct, it is strictly forbidden (excusing the pun) to put out SP-changing speculation dressed up as news. Hence a shut-down in comms from FBT. Then there's the question about about commitment to us small investors. It's nice to make us feel warm and fuzzy on the inside - but it's all just fluff if it doesn't turn into results. My belief is the way that the BoD can best look after us is to buckle down and make a success of it so that our shares are worth something - not waste effort on tempting us with titbits. The most recent placing is testament to the fact that the real action happens with institutional investors (not us) and so this is where the BoD should, and clearly have been, focusing their attention. To some effect. I think they do care about us - a good deal - but their hands are tied and they also need to focus on what really matters.

[paulcon1] 07/6/2018 10:46

Invest360

Good and intuitive posts recently.

Agree with comments re Aziz, I thought he was doing a good job as a salesman...FBT were gaining traction... we will never know.

Again with regards Eva and Captivate, I think these are excellent products and still have a future.

Your optimism maybe well placed, I'm sceptical of FBT commitment to private shareholders and overall effectiveness to monetise their tech!

GL and IMHO

[invest360] 07/6/2018 10:29

For what it's worth I thought that both Captevate and Eva had a good deal of potential. In my view the mistake was in the FBT crew believing they had cracked the UX and pushing forward to expensive launches when the product was not ready. Far better to preserve cash and market credibility and patiently work away on small user tests until they'd honed them into truly compelling apps. Has it been a waste of money? Yes - in part - at least the product launches were. But much of this can only be learned in hindsight and it was a good idea to try. More to the point, if they are truly now ploughing the furrow of integrated technology deals in which FBT becomes the enabling backbone of a critical piece of the video architecture then it's likely that all of this consumer-facing development will probably not have gone to waste. Bigger, better consumer-facing tech firms would be able to utilise the underlying FBT technology to provide a very impressive suite of tools based on a mature video backbone across a wide range of use-cases and user-types. Those who have studied the genesis of FBT from the days of Eidos may know that what underpinned Eidos' share price to enable them to purchase Core Design (Lara Croft / Tomb Raider) was the announcement of just such a global deal with Oracle, who at the time were looking to build the 'NC' - a PC-beating solution based on the SaaS/Cloud model. The pro-genetor of Blackbird was set to become (before Oracle abandoned it's vision as being before it's time) the core underlying video architecture of the entire NC OS. So, SBS has been there before. Watch this space, I say...
On another point. Probably best to stop bashing Aziz. There was much that was impressive about him. He was talented, had a big vision, a lot of energy and pizzaz - and the guts to step up and be counted. Unfortunately he didn't quite have what it took to make it - and he wasn't helped by the fact that FBT's bread and butter business couldn't develop proper traction until the market accepted the cloud. If he got 75% of the way to being a hero that does not make him a zero, in my opinion. He's probably still licking his wounds, poor fellow.

[paulcon1] 07/6/2018 10:13

Totally agree the fund raising discussions and administration would have been ongoing for a while..

It was suggested on this board that the flurry of pre NAB activity/blackbird relaunch was gearing up for a placing

It seems that poster may have been correct

IMHO

[bonio10000] 07/6/2018 10:03

BTW - the price dropped from 8p to 5p around the time of the placing discussions.

So yes - there is about a 35% dilution in the price.

[bonio10000] 07/6/2018 07:27

How many active users do Eva and Captevate have?Would be interested in the scope of the failure. Especially as Captevate was getting plenty of trials with no advertising at all. What happened to the conversion rate and why has it been binned?

[_m_k] 06/6/2018 23:54

some more blackbird viewer vids...