Ft Fbt Discussion Threads

[nickb] 05/1/2018 20:32

Paul I would add that our new CEO bought a lot of shares with his own money recently (after he had done a full review of the company)


Ian
“...Feedback from both existing and prospective customers is unanimous – Blackbird video technology should be a game changer within the industry – reaffirming my core reason for joining Forbidden as CEO and investing personally in the company.”

[nickb] 05/1/2018 20:27

SSB
I have to agree on the thread title I cannot say I am happy about it.

[nickb] 05/1/2018 20:26

AIMSTER
Not for me!

But yes according to Ian (see his update)

[geheimnis2] 05/1/2018 20:19

I am hearing that Ian is still dithering over cancelling cowboy boot Friday?

[aimster4400] 05/1/2018 20:12

New role in US nick?

[paulcon1] 05/1/2018 20:12

NickB ... Good debate today ... I do not want to diminish the opportunity new investors have with FBT... At 4p this share looks Incredibly cheap.... As you say 1: No Debt 2:Ground Breaking Tech 3:New and motivated CEO and Sales Team 4: A number of POC's 5:Urgency to succeed... GL and IMHO

[nickb] 05/1/2018 19:49

Don’t forget we have NO DEBT cash burn could in theory be reduced to zero if you sack 80% of the staff we could still function!

So ‘going concern’ warning may not make sense.

Debt kills companies I reckon.

However the company is on a recruiting mission including expansion in the US they don’t seem concerned!

[aimster4400] 05/1/2018 18:38

Thanks for clarifying.

[bonio10000] 05/1/2018 18:36

FwiwThe Dec 15 prelims announced in March 16 had cash of £1.67m, so a bit less than we think today.No going concern note in that statement and they of course raised cash shortly thereafter.Also, in a number of bust companies I have never seen a going concern within the prelim results.So my guess is nothing will be needed on the March prelims. The annual accounts are a different matter.Anyway, financials are not important apparently. So don't sweat it.

[bonio10000] 05/1/2018 18:22

https://www.completeformations.co.uk/filing-dates-for-accounts.htmlBoth half right. It is 6 months to file public accounts. As to what the prelim results need to include, I.e. going concern, I'd need to ask someone on Monday.

[aimster4400] 05/1/2018 18:08

"They don't release accounts in March" I think they do. I think they release audited accounts for 2017 hence I'm asking Bonio it anyone else who may know?

[aimster4400] 05/1/2018 18:00

"the accounts dont need to be filed for another 9 months"Bonio if you're around can you clear this up? My understanding is that if the company doesn't have cash for 18 months from the start of the financial year then the auditors have to qualify the accounts when release in March.

[paulcon1] 05/1/2018 17:51

One or two contract wins of note and some Sales and Share price momentum over that time and realism will be overtaken by positivity... 😊

[geheimnis2] 05/1/2018 17:48

certainly a decent announcement in Q1 would be very helpful

i think we have until the end of H1 before getting too worried

a significant announcement will boost the share price nicely and we can get a raise away off the back of it

[paulcon1] 05/1/2018 17:38

Agreed Aimster....To be clear, I am saying 6-8 weeks critical until the 'cash running out' becomes a serious issue. IMHO ....And as an investment for me .... As Nick and I agree the technology will prevail whatever. GLA

[geheimnis2] 05/1/2018 17:32

auditors qualify accounts not results

the accounts dont need to be filed for another 9 months

[aimster4400] 05/1/2018 17:27

I guess it depends how bad the second half was in terms of sales. Regardless using Paul or G2's calculations we still have a going concern issue so the auditors will qualify the results without new sales in the next 2 months.

[paulcon1] 05/1/2018 17:20

The figures of course do not take into consideration a suggested increase in staff and possible refundancies... End of Feb also will be 6 months for new CEO , plenty of time for a difference to be made. (6-8 weeks for me) ... GL

[paulcon1] 05/1/2018 17:03

There has not been any official figures since the upto June 30th update My crude calculations were Cash Burn = £160-170k per month 8-9 months of funds remaining ...

[geheimnis2] 05/1/2018 16:59

sorry - was being lazy

we had £2.8m at 30th June and burnt about £0.9m in the half

so probably £1.9m now

therefore about 1 year of runway (assuming no increase in sales)

I dont think the next 6-8 weeks are critical therefore - but they need to make a decent sale or two in the next 6 months then raise again off the back of it

if the momentum is there a smallish raise (£1 or £2m) at a higher price (eg. 10-15p) would be ok

[geheimnis2] 05/1/2018 16:54

how much cash do we think we have at 31 December 2017 and what is monthly burn, please?

[_m_k] 05/1/2018 16:54

Noted Aimster4400. Good luck!

[paulcon1] 05/1/2018 16:49

I agree with you Aimster, I think the next 6-8 weeks are critical, unfortunately ... GL (Still remaining confident though)

[aimster4400] 05/1/2018 16:42

Welcome to 2018 MK - my guess is 1.5pDon't read me wrong I really believe in the tech and the company. I just don't see them getting more funding without a massive dilution down at around the 2.5p level. TBH it's all about January and February. If they don't get a big deal then there'll have going concern issues. If they do get a big deal but don't follow it with 2 or 3 more by June they'll have fund raising issues.