Ft Fbt Discussion Threads

[chriscallen] 18/9/2018 19:24

bonio10000 You've encouraged me to look at the last accounts. The accumulated losses at 31 December 2017 were £15,833,053. The Share Premium Account which represents the excess paid for the shares over their nominal value stood at £16,935,301. So as soon as they turn profitable it would be normal practice to ask the High Court to write off the losses against the Share Premium account. The figures will have changed this year a bit because of the share issue but there should be plenty to do the tidying up job. NickB has made the useful point that if they are growing fast using cash by paying a dividend might not be in the interest of shareholders but if they are running a profit and want to retain cash they could do a scrip issue.

[cabi1] 18/9/2018 18:25

SS Twitter

Busy Show this year for @forbiddentech... Luckily @MSFTAzureMedia had a large stand.

[chriscallen] 18/9/2018 18:21

NickB I know I've done quite a lot in the past but Blackpool in a trade hall below zero in February hasn't the cache of Amsterdam in September on the Microsoft stand. Nobody drank the coffee as it was the only hot thing around! Max 20 min slots for the staff on the stand. The posted pictures do give a sense of being very busy so that is good news. It's down to the conversion rate but given the product if they are any good it should be no less than 40:60 and perhaps as good as 50:50. It'll take a few weeks for them to work through all of the leads and then we should see a hike in turnover in the last quarter of the year which added to TownNews should give a much better picture.

[nickb] 18/9/2018 17:37

Cabi
Thanks for posting that.

[nickb] 18/9/2018 17:36

Chris
Trade shows are very hard work.

[cabi1] 18/9/2018 17:17

IM LinkedIn

In full swing during one of our 3 presentations at hashtag#ibc this year. Thoroughly enjoyable show with huge footfall. Met new prospects from morning to night over 5 days. Thank you to Microsoft Azure for hosting us and inviting us to present our Blackbird Azure workflow with Deltatre (for a major US sport) hashtag#microsoftazure hashtag#cloudcomputing

[chriscallen] 18/9/2018 16:32

They can do nothing until they become profitable i.e make enough to pay off all of their past losses... is it 20 years worth? They could write off any surplus created by the issue of shares at a price greater than the face value against the trading account deficit but otherwise it will be a long hard slog. Sorry to rain on the parade. They do seem to have had a jolly time in Amsterdam... lets hope the fun results in profitable orders before we forget why everybody is here. Oh dear! There I go raining again when I talk about PROFITS.

[nickb] 18/9/2018 13:20

If a small high growth company cannot find anything better to do with the money than pay a dividend that would be a strong sell to me

[paulcon1] 17/9/2018 19:58

To me, it is very simple:

There is alternative that some, have not considered:

If FBT were making a profit all shareholders from small private investors through to The Milton Group and the BOD's could receive a dividend based on their shareholding.

Now that's a novel idea!

IMHO

[aimster4400] 17/9/2018 18:48

Having had some time to reflect on the results here's my thoughts:
Initially I was disappointed, essentially the results are a replication of the first half of 2016.however upon reflection it seems clear that there is progress being made. Nick always says that it's about the technology and the mega deals, which principally I agree with, but small to medium size deals keep the lights on, give momentum and most importantly give prospective mega deal buyers proof points that minimize their investment risk. That said, I believe that there's a genuine time limit on when a mega deal can come to fruition. The longer it takes, the more companies have said no, the less likely it is to happen. In my view by March next year we should have closed a big deal.

2 other points:
Firstly, I don't see the option allocation of IM as unreasonable. With the dilution came a larger options pot and he has put plenty of his own money on the table here for which he should be applauded not vilified.
Secondly the Java script editor is a massive step, but I wonder whether the company shouldn't reconsider selling this to individuals and freelancers Ala premiere. I'm sure they're giving it thought.

In all IM is the right guy. If he can't do it, it can't be done.

[paulcon1] 17/9/2018 11:55

Chris

Ha Ha

Its only funny because it's true!

GL

[geheimnis2] 17/9/2018 11:47

Of all people, I really dont think SS needs more options...

[chriscallen] 17/9/2018 10:40

Answers
1 No
2 Yes
3 Sardinia? Paid for by FBT as extraordinary BoD expenses: "Secure meeting to discus whether we can stuff the shareholders again"
4.1 yes. We can we do it again - even Miton might not notice - but should we? Yes.

[chriscallen] 17/9/2018 10:36

Answers
1

[paulcon1] 17/9/2018 09:21

FBT Tuesday BOD meeting agenda

(1) Do you think anyone noticed what we did there?
(2) Do you think we got away with it?
(3) Holiday plans
(4) AOB

GLA

[_m_k] 17/9/2018 09:19

Go ahead Minja19 - there are already two suggestions.

[bonio10000] 17/9/2018 07:18

IM seems to be of the opinion he should be given 100 per cent of the company.

[chriscallen] 17/9/2018 07:16

What they gave themselves:

Ian McDonough Chief Executive Officer 1,180,000 5.25p 3,580,000

Stephen Streater R&D Director 480,000 5.25p 730,000

Jonathan Lees Finance Director 200,000 5.25p 1,520,000

David Main Non-Executive Chairman 120,000 5.25p 1,565,000

Andrew Bentley Non-Executive Director 120,000 5.25p 520,000

James Irving Non-Executive Director 80,000 5.25p 480,000

[minja19] 17/9/2018 07:12

Is it too early to enter the 2019, Annual Thread Header Competition?

This year's
2018: The Blackbird Soars,
is wearing a bit thin

[chriscallen] 17/9/2018 07:08

It does seem pretty rich for the BoD to be rewarding themselves yet again for as yet no performance that has benefited shareholders. Perhaps the time has come at last for a clearout?

[bonio10000] 17/9/2018 07:04

The greedy pigs stuffing their faces again.There must be more options flying about than shares.Shameful.

[geheimnis2] 16/9/2018 18:54

Probably rules out naive nanga!

[nickb] 16/9/2018 18:42

Minimum of 100 shares?
Otherwise yes bonio included