Gfinity Share Discussion Threads

[plattlaneboy] 13/11/2024 07:02

No just however many millions of shareholders money to develop it - at least Epstein already owned Krunch.

[parsons4] 12/11/2024 08:50

Well let's hope this new venture is successful !!! At least they have done what a lot of other AIM companies cannot achieve and that is to seriously cut overheads to get to break even. They obviously want to retain a) the quote and b) the infrastructure including talented employees. Let's hope they succeed !!

[dogboy] 12/11/2024 08:35

Also bought all the liabilities for a quid too.Least it wasn't £735k of shareholders monies.

[plattlaneboy] 12/11/2024 08:02

Indeed they did which if they hadn't then they wouldnt be able to do what they are doing now as they now own the whole IP for the platform - what Mark Epstein didn't do was buy the platform for a quid.Not invested but just a little heads up for anyone who may wish to dig a little deeper - good luck with it.

[dogboy] 11/11/2024 22:17

Nothing irregular for Aim. Didn't MOS buy 49% of Mark Epstein's Krunchdata (also a Director of MOS) for £735k back in the day. What's good for the goose is good for the gander...Anyway good to hear GFIN expecting monthly profitability in 2025

[plattlaneboy] 11/11/2024 18:52

My advice is be very careful - OM owned by Robert Keith who bought Athlos for £1 - David Halley works for him.Not rocket science what's going on here with an option for Gfin to buy it presumably with shareholders money to leave PI's flat once again.

[joeblogg2] 11/11/2024 15:01

Looks good to me expects to meet its objective to achieve monthly profitability by the end of 2024, whilst leveraging its strengthened commercial resources in the coming year.

[tomboyb] 11/11/2024 14:49

Well he may get the equity working again considering he has 20% of the equity -

[tomboyb] 11/11/2024 14:44

42 percent up -

[tomboyb] 11/11/2024 14:36

Gfinity PLC New business development and trading update
11/11/2024 2:35pm
RNS Regulatory News


RNS Number : 7571L
Gfinity PLC
11 November 2024

For immediate release

11 November 2024

Gfinity PLC

("Gfinity" or the "Company")

New business development and trading update



As previously announced on 26 September 2024, the Board of Gfinity plc (AIM:GFIN), which specialises in digital media and monetisation, intended to explore new business opportunities to develop and expand the Company's core focus of digital media content, further leveraging the infrastructure commercially available in the Company and intended to use the proceeds from the recent funding to explore these opportunities.

The Board is pleased to announce that it has signed a non-binding Memorandum of Understanding ("MOU") with 0M Technology Solutions Ltd ("0M") to commercialise 0M's advanced artificial intelligence technology, Connected IQ ("CIQ"), which is specifically targeted at the connected video market. Gfinity and 0M intend to agree and sign a detailed legally binding agreement as soon as possible, and in any event no later than 6 months from the date of the MoU.

The MOU outlines the scope of potential collaboration between Gfinity and 0M and which envisages that Gfinity will enter into an exclusive licence agreement with 0M ("Licence") for the use of CIQ and will pay a licence royalty fee to 0M expected to be equivalent to 30% of net profits generated by Gfinity from the Licence. CIQ has been developed by 0M and is now at the stage of being ready to be launched for commercial launch. The Board believes that the Licence will provide an opportunity for Gfinity to combine its current network and relationships within the advertising sector and digital media monetisation, together with the initial relationships CIQ has already established with top-tier agencies, sell-side platforms, to commercialise CIQ.



David Halley, CEO of Gfinity, commented: "This proposed partnership represents an opportunity for Gfinity to combine innovative AI technology with scalable solutions in the fast-growing connected video and advertising industry. With the current rate of growth of video content through platforms such as Connected TV and Youtube, video is becoming the dominant medium for information online, and Gfinity can provide a valuable service to the monetisation of this market. The MOU aligns with our strategic focus on delivering value to our shareholders by capitalising on key industry trends."

The MoU is non-binding and there is no certainty that definitive binding agreements will be entered into in due course or on the terms as set out in the MoU. Shareholders should note that while the Board is excited about CIQ's potential market, CIQ is still at an early stage with no sales track record and there is no certainty as to how sales might develop under the Licence. 0M is a newly formed company with no published accounts.

In addition, the MoU envisages that Gfinity will have the option, but not the obligation, to buy 0M, CIQ and its associated intellectual property after the first anniversary of the date of execution of the binding Licence agreement ("Effective Date") for a consideration of £2 million. The Option will otherwise lapse on the third anniversary of the Effective Date. Given the lack of trading and commercialisation to date, the current value of 0M and assets, which are the subject of the Option, is limited unless and until the commercialisation by Gfinity under the Licence is successful, which is not guaranteed. The Option price and value of the Licence is based on the Board's current assessment of potential outcomes of commercialisation and prospective sales in 2025 and beyond, based on the Board's own internal estimates, the current status of the software and the potential pipeline of customers.



A further announcement will be made in due course when binding agreements are completed.

0M is beneficially owned by Robert Keith, who is currently interested in 704,419,692 Ordinary Shares held by him directly and indirectly and which represent approximately 20.7% of the Company's existing Ordinary Share Capital. Accordingly, the execution of any binding agreement with 0M will be a related party transaction pursuant to Rule 13 of the AIM Rules for Companies, and will be dealt with accordingly at the time.

Current trading

As previously reported, during the last year Gfinity has completed a 12-month cost-cutting programme, reducing headcount and technology expenses. Following this restructuring, these changes have been reflected in improvement in profitability in the last quarter of 2024 and the Board is pleased to announce that it currently expects to meet its objective to achieve monthly profitability by the end of 2024, whilst leveraging its strengthened commercial resources in the coming year.

Other Information

[goforgold1] 21/10/2024 12:55

This not gone bust yet wow total scam

[tomboyb] 08/10/2024 12:42

We could start breaking upwards again -

[tomboyb] 07/10/2024 09:38

Tiddlers have been climbing recently -

[7rademark] 07/10/2024 08:50

GL it's a crazy stock to hold. Look at it now. 83% up. I've took a punt and I'm here to hopefully x10 my money in a short period of time.

[smcl] 07/10/2024 08:31

Okay 7rademark. I've a bit to go to break even and progress. Thanks.

[7rademark] 07/10/2024 08:29

If gfin survive and progress a return to 5p would be initially possible. That's a 2400% gain from here. All Conservative but with the usual risks.

[7rademark] 07/10/2024 08:27

I think that at 0.1p gfin was priced to go bust. It's now 0.02p. So a fair price today given the directors buying cost savings post restructuring and reversal in the sector would be 0.1p. That's a 400% gain from today.

[7rademark] 07/10/2024 08:23

Thanks for the clarification.