Ft Fbt Discussion Threads

[bonio10000] 12/3/2019 12:35

Imagine having your software being used for most main sports on both sides of the pond, generating additional revenues for users and also saving users costs - but having the turnover of a decent chinese.

[mcsean2164] 12/3/2019 12:30

Well, that's it, 7p is bust but 6p holds, who knows we might close above 7p yet.

I agree with Chris, I have a UK subsidiary, it costs me about £100 per year but allows me to have a UK bank account and sometimes companies I worked with have looked for that.

Anyway, add it to the list of incompetence.

e.g.
eva delisted on android - no reason
onlinevideoeditor has not https certificate
No US subsidiary

It's hard, a lot of the issues could go back to when SS called out the senior BBC executive. It certainly seems like BBC have blackballed FBT and their life has been infinitely harder as a result. Small people in power can ruin a business.

FBT should probably relocate in the US.

[nickb] 12/3/2019 11:19

MK
I was surprised that they didn’t mention the Blackbird Player

Concerned 😧

[nickb] 12/3/2019 11:17

It may have been Ian buying again.

[gnnmartin] 12/3/2019 11:08

Someone has taken the opportunity to buy half a million shares. I assumed it was a delayed reporting of a sale, but at 7.85p it was surely a buy. I'm encouraged.

[_m_k] 12/3/2019 10:42

wonder what the status is of the blackbird player both commercially technically

last update was september 2018 and it was given a reasonably high profile at stephen and ian's presentation far as i recall, with consumer space mentioned re its clip and share capability

perhaps it will crop up at nab

[nickb] 12/3/2019 10:33

Chris
As I Said you may not be aware that a lot of non US Technology / equipment is heavily used in the US Media it
Might even be the case non US made equipment dominates the industry depending on how you measure it

US Media also has a lot of British senior people working in it.

It should not stop us getting adopted.

With recent appointments we also have strong very well connected US based team

IMHO

[chriscallen] 12/3/2019 10:02

NickB
Yes, I do understand that the media industry is international even in the States. But they are not the UK where mostly we don't look for where the product comes from. They are more like the French or Swiss who favour home produced products in thinking instictively that USA produced is best. Boeing is a very good example of this. It's not important where it is really made it's the fact that on the tin it says Blackbird Inc, Maryland which may effectively be a single room collecting the emails. As a side benefit it might also enable a name change here to Blackbird Technologies Group PLC, which so far as I can see is available in the UK(subsidiaries are needed to have Group in the name)

I was diverted from my original purpose which was to draw attention to the Highlight: "Transition of platform web applications from Java to java script nearing completion, simplifying adoption among Original Equipment Manufacturers ("OEMs")" This is really key as it suggests that the applications are still evolving and that might explain some reluctance by OEMs to convert now. They want to see a finished, tried and tested product (or as near as possible because these things are always being upgraded) before bundling it in with what their customer gets up front. Up to now I thought from what was published by FBT that this was only a question of roll out but it suggests that further work on the applications to enable the roll out is still ongoing.

[bonio10000] 12/3/2019 10:00

At least the low price will help with the board's next options.

[nickb] 12/3/2019 09:28

Chris
You are probably not aware but the US media industry has a lot of non US technology as key components so while I agree with your sentiment the reality is that the US Media industry is open to non US technology.

We have only just gone java script which is very important to OEM’s as Ian mentioned.

Blackbird Inside OEM wins maybe happening slower than you want but it doesn’t mean they are not in progress.

IMHO

[bonio10000] 12/3/2019 09:14

should be back down to 6p within the coming weeks.

no buying pressure at all.

[bonio10000] 12/3/2019 09:03

So we can conclude the successful pilot with the USA broadcaster is worth Sweet FA too?

So why announce it?

There does seem to be an awful lot of gilding the lilly. And, as Aimster pointed out, let's not forget Miton's comments on sales.

They even had to pad out the statement with umpteen references to IMG - an existing customer !

[bonio10000] 12/3/2019 09:01

I wouldn't worry.

Apparently accountants are employed because of their sales contacts.

[chriscallen] 12/3/2019 08:58

There is a contrast between the optimism from last November of large and medium contracts being a prospect in the short to medium term and the statement from IM today "We have begun conversations with potential customers and partners across North America including the West Coast tech giants, the traditional national media networks, the local and regional players, and the many emerging digital publishers."

The process is I suspect proving more difficult than anticipated. It really would help if they had a subsidiary company based in the USA to get round the "it's not American" problem. It wouldn't cost very much at all and it could open doors that remain stubbornly closed at present.

[mcsean2164] 12/3/2019 08:56

So, appears CFO may have joined to get a well paid job where very little work is required.

[nickb] 12/3/2019 08:15

Chris
Speculative but I would expect an OEM partner announcement for the NAB show in April.

[bonio10000] 12/3/2019 08:07

Someone excited about the talk of West Coast giants.

Are we still waiting for Apple to integrate our products from the BBC deal?

[chriscallen] 12/3/2019 08:05

Market response this morning:
08:01 - 12/03 Buy 100000 7.90p £7,900.00

[bonio10000] 12/3/2019 07:57

So I was right on Rachel Darcy then.Why firms hire people whose record is staying nowhere for very long I have no idea.The clue is on the box. I really think this management is as clueless as the last lot.Take out town news and IM has really not increased sales at all. And I doubt that was really his deal and not a prior lead/deal from an existing customer.

[nickb] 12/3/2019 07:45

Ian’s strategy is Bang On Target.

[nickb] 12/3/2019 07:40

As expected on the financials.

Opportunity outlook for high rapid growth remains if you believe!

[chriscallen] 12/3/2019 07:39

At the present levels of activity it looks as if they have enough cash for 2.5 years. They will need to win new contracts at a very much increased rate (> 150% pa)to break even in cashflow terms by the end of 2020.
There were some further changes to sales staff, including the departure of the UK Sales Director in February. The costs of the concentration on the US market presumably won't really begin to rise until bonuses are triggered by actaul sales receipts.
The statement is bullish but it gives no hint at all of any potentially large deals coming up so it looks like IMs "several" large deals and lots of "medium" deals was a repeat of previous FBT hype. The concentration on SaaS and OEMs tells me that any significant sales increase is likely to be a very long time away so whilst there may be some significant wins nothing will materially change until at least 2020/21.
None of the BoD who have failed so badly over the years have gone.

Whilst the strategy may be the one that delivers the pot of gold I am concerned that the BoD still haven't learned that businesses go bust for lack of cash and nothing else. If they pick up contracts for $5M spread over 5 years the sales look good but the cash is only $1M a year so the company can still go out of business before they earn the revenue. I do hope the new CFO/COO is really hard nosed about cash preservation and seeing results from all these expensive mainly US centred activities.

I'd give the overall statement 4 out of 10 but we'll know a bit more when we see the actual detailed disclosures the auditors require.

[bonio10000] 12/3/2019 07:09

Drivel. Lucky they announced Peleton and IMG or there would be nothing. Another fundraising due in about 18 months.Let's wait for the full accounts and see what the board are being paid.

[aimster4400] 12/3/2019 07:03

HandOverFist...