Getech Share Discussion Threads

[32campomar] 08/8/2024 18:54

I think the ARR is key here.

[playful] 08/8/2024 18:49

A premium is usually when the shares are in demand so they might struggle here.

[32campomar] 08/8/2024 18:46

Millington is participatingThey are very close to cash flow positive.It's a static cost base so if they can grow sales even modestly then it will be transformed. IF. Historically it's a terrible price to be placing at. The board are guilty of totally mis managing it, they should have known cash was this tight months ago - and raised cash when the price was nearer 10pThat said on doubling the share count it's still only at a 3 million Market cap so plenty of upside IF (and i stress if) they can grow sales. The reason the price has crashed is down to company having no money This will remove that cloud - and it's just possible that with this cloud lifted, the placing might get away well and in time the price could recover.

[pugugly] 08/8/2024 18:29

"the annualised cost base now stands at £5.5 million" Going (imo)to be a hard sell.

Millington's possibly unhappy (unless participating) as appears to be at a significant discount to their apparent buying prices in the area of 3p looing at trades on 21st and 24th June - They declared their holding reached on 24th June - Trades on 24th and 21st June were in region of 3p- Largest trade marked on 24th June was 7,615,000 at 3p.

[32campomar] 08/8/2024 17:49

You were nearly right when you said 100 million shares at 1.5pSo 75 million shares at 2p being placed ?

[playful] 08/8/2024 17:15

Placing at a premium for 1.5M

[32campomar] 07/8/2024 11:12

Plenty watching from the sidelines

[chrisdgb] 07/8/2024 09:02

Totally stumped with this one, seems to be zero interest....

[32campomar] 01/8/2024 08:18

The funding gap is actually relatively small and can be rectified by either further cost cuts as you suggest or winning new business, ideally both! The house sale would eliminate the gap (currently covered by the bridging loan) then they need to do one or both of the above. To be fair, the company is actually very close to being profitable. I don't think there's any doubt IF they manage to get there, there is huge upside here. In its 30 years as a company, the share price has never been so low.

[playful] 01/8/2024 07:47

If they cut everything back to maintaining the recuring revenue, reducing the headcount 70% and the board reduce salaries 50% funding will be forthcoming with absolutely no need to dilute the business into oblivion.

I would have taken an axe to this structure long before now!!

Realistic pay against the valuation and performance:
Richard Bennett £125K
Chris Jepps £85K
Andrew Darbyshire £70K

If Jepps & Darbyshire don’t support the business that has paid their salaries for over 10 years they shouldn’t be here.

If adopted, we might actually pay a dividend!!

[workingfromhome] 31/7/2024 15:17

Yes it's been an hysterical reaction to what is just a small short term funding requirement. But that's what creates the opportunityNo one ever makes money buying at the top, do they ?

[32campomar] 30/7/2024 16:24

I guess the selling had to end at some point

[workingfromhome] 30/7/2024 10:36

I have just taken 1% of the company for just under £14K. Yes, that's right 1%They may have a small funding shortfall but they have Annual reoccurring revenues of £4.4 million. The BOD can easily borrow against these future revenues and I would be very surprised if they resort to a placing at these levels, it makes no corporate sense. In my view a market cap of £1.35 million is a complete over- reaction and makes the company an absolute steal.

[playful] 25/7/2024 21:08

They continued to fleece shareholder's when salaries were obviously unsustainable and now they face the consequences as they scramble around with doors closing in their face.

I made a mistake in not pushing hard enough for Luke Johnson to take the wheel here and sadly feel somewhat mislead.

[book5] 24/7/2024 12:18

Liquidation will happen if they can’t raise a meaningful amount of cash
The collateral will not last till the end of this year

[playful] 24/7/2024 08:38

This is historically the quietest time of year so they have no hope of conjuring up a tangible RNS before the fund raise and you have to factor in they have limited authority on how many shares can be issued, so we are looking at a debt for equity element too.

It’s unacceptable in my opinion to not pull down the shutters and liquidate the business immediately knowing what they know.

[32campomar] 24/7/2024 07:57

Think that's the idea, give them breathing space until they sell (or try to) sell the house in September.

[chrisdgb] 24/7/2024 07:41

Still can't believe how they managed to crater the price here, very frustrating....Does the above finance facility solve the short term issue?

[workingfromhome] 17/7/2024 10:42

May help their short term liquidity issues ? https://www.business-live.co.uk/enterprise/underground-natural-resources-finder-getech-29552874

[32campomar] 15/7/2024 07:56

Think they've forgotten there's a placing coming !

[chrisdgb] 15/7/2024 07:48

More volume here today..........

[analystium] 01/7/2024 19:02

Saw the TR1
How are Robert & Virginia Millington of St. Leonards-on-Sea?

[32campomar] 01/7/2024 11:48

Think the market makers are going to gradually walk this down Question is who on earth is advising the board ?They have known for months cash is tight. They should have been advised to go for a placing when the share price was nearer 10pInstead we get told in the results a placing may be needed when the share price is 5p. How did they expect the market to respond to that? The whole thing is a fiasco

[playful] 01/7/2024 10:45

Highly likely to raise 1.5/2M

100,000,000 new shares issued at 1.5p

1/3 Gone immediately in fees

1/3 locked away for salary payments. Cough.. cough... working capital

1/3 to pay off bridging loan

Resulting in a return to waiting for the house to sell as the payroll drains the business and we're back to square one.

The honourable course of action would be to see the director’s falling on their swords and choosing voluntary liquidation which guarantees shareholders a fair return based on the current share count.