Insig Ai Share Discussion Threads

[nico115] 21/12/2022 11:46

None of the rns make sense to me All very odd

[pj 1] 21/12/2022 10:01

If so then it makes an enormous difference to the interpretation of the 3 Nov 2022 RNS
where-

''We prefer to focus on becoming cash positive sooner, which we hope to achieve in
Q2''

becomes

''We have to focus on being cash positive, which we have to achieve by Q2 ,(which if we do not.....)''

[pj 1] 21/12/2022 08:57

Im not sure what to make of that surrender of Directors shares.

I assume the main reason is that some creditors and staff have agreed to be settled or accept their bonus in shares, to save on cash drawdown?

Whatever it looks to me like the CO strategy is being dictated by the dire financial position and was the driver to reduce costs and bring profit forward.

Or am i being unfair on the BoD? This is a horrid position to be in as an employee and for shareholders.

[nico115] 20/12/2022 16:06

The bod wil just extend the terms and probably get warrants at 10pThis is uninvestibleIt needs the support of Bernstein so he can issue stockAt any price he wants

[banshee] 20/12/2022 14:37

PJ after the invasion of UKR a CLN was indeed the best solution, i am just not convinced that with AB/CarVal's fund now poised to launch and generate a seven figure annual income for INSG (and we are not talking 1 million) for several years they could not raise a small amount of money on the mkt without the onerous warrants and the interest. They may not be able to state the details directly in print in the results (just waffling about commitments obtained by CarVal, by which they mean the amount being subscribed to the profit sharing fund - likely to be in the billions especially now they are backed by AB), so much so that even people on this thread don't seem to understand the process, but in a presentation could be much clearer.

It is also a bit odd that they are investing significantly in sports for schools and a time of severe cash constraints in the main business, whose interests are served here? Why not just pospone that for a few months?

The acqusition of Carval is very important to AlliedBerstein, as you can tell from the number of references to it in their accounts/conference calls etc.

[banshee] 20/12/2022 00:50

I think for once you are being too generous Judi, whatever they are doing on fumes it isn't running.

[judijudi] 19/12/2022 20:06

Running on fumes

[banshee] 19/12/2022 17:19

To say again, although the original CLN terms were generous, the new ones are so bad they are counterproductive, and not just as a reward for comprehensive board failure and repeated mistaken projections, but also because they seriously damage the company's credibility going forward imo, both with potential investors and potential clients.

Few things say 'junk stock with no future' like these kind of rapacious rollover terms, of course there is always death spiral financing which is usually worse, but as Nico says INSG may just have have invented their own slow motion version of that.

[banshee] 19/12/2022 12:11

The CLNs are low risk as well given the projected revs from Carval, which could have been used to raise cash in the market rather easily I would have thought. A cynic might wonder if the CLNs were timed to end a few months before the Carval revs kicked in with this sort of scenario in mind.

Just as well there are no cynics around here.

[judijudi] 19/12/2022 12:01

banshee
The share price was in the 30’s in Sept

[judijudi] 19/12/2022 11:53

I hate it when abject failure is rewarded
It’s like a kick in the nuts for us mere mortal share holders
imho

[banshee] 19/12/2022 11:28

Yes, the joys of being able to reward yourself handsomely for failure. In retrospect the company would have been much better off raisng a couple of million at 25-30p 10-12 months back than going via the CLN route. Although the original CLN terms were generous, the new ones are very different and seriously damage the company's credibility going forward imo.

[nico115] 19/12/2022 11:11

It's a no lose situ for Bernstein and kyte Cos if things continue to get worse for insig and the Loans get extended then they will keep altering the terms and get stock converted even lower.Amazed they can get away with even more dilution for other share holders Shocking behaviour

[pj 1] 19/12/2022 09:55

Debtors (short term?) £300,000

Creditors (short term?) £1,000,000

[judijudi] 19/12/2022 09:38

PJ,
A single small sentence of any relevance from the CEO


“Despite an increasingly difficult macro-economic backdrop and with us taking a cautious approach, we anticipate growing revenues throughout 2023."

Not exactly exuberant was he

Appalling performance in my humble opinion

How long will £150k last?

Can we continue as a going concern?

[pj 1] 19/12/2022 09:31

Merry Xmas!!

Somehow I do not think INSG customers or staff will be receiving a bottle or 'pie and a pint' this year?

No-one quite does Christmas like INSG do they?

I will give an xmas pressie though to the first reply as to just why they are ''pleased'' to report that mess?

It appears the CEO was lost for words anyway.

[nico115] 19/12/2022 07:55

Yes they can do as they please Increase the interest rates but don't dilute shareholders like this just cos the shares are lower ..why should RB get rewarded for failure ? Awful

[judijudi] 19/12/2022 07:42

It stinks to me
And A truly woeful performance since re listing and only 150k left in the bank
Only In my humble opinion and as always wtfdik

[nico115] 19/12/2022 07:34

Wow management changing the terms of the warrants etx to massively suit them !I suppose if they extend the loan again they might get stock at c.10p ? Who knows as this is a substantial difference to the last terms This is big dilution for shareholders and I will continue to avoid for now .

[kaos3] 13/12/2022 20:38

I do not like the US trend - push by states against BlackRock for their ESG agenda

[banshee] 13/12/2022 13:38

Can't help thinking that the ealy first Profit sharing deal with Carval, which should be kicking into the revenue stream soon, made them overconfident with (in hindsight) predictable results such as as the FBD acquisition, not in itself a bad idea but done at too high a premium (little of it in cash tho) even with no add ons, but the real issue was probably putting too much money into expanding the acquired database too rapidly.

Ironically, I belive the their tech that does that has improved dramatically since the process commenced making it an easier and cheaper proposition.

That said the from memory, the market only lifted the Sp 0.5p when the CarVal deal was announced which tends to wuggest the market doesn't really understand the company too well. We need that second (and third ideally) P/s deal(s) to really restore confidence here though.

[pj 1] 13/12/2022 11:15

Interims were the 22nd December last year JJ.

I am attempting to be constructive following the smallcompanychampion comments yesterday and some communications with fellow investors who, as far as I know, do not hold here. It therefore seems to me the Board of Directors as an entity have a credibility issue in the Market.

It seems we still have an interim Chairman after 15 months? I cannot find any RNS to say if RB is still interim or not. Investors are asking the obvious question as to why no replacement after a very long 15 months, How is the search going if it is still on-going?

12 months ago they stated this. ''"I am pleased to report that both in the coming quarter and beyond, I expect this momentum to build very significantly.'' and then in the following March ''I believe that the enhanced focus on business development and sales execution will deliver a rapid acceleration in this area in the coming 12 months and beyond''. Neither are yet evident

In Sept they unusually stated ''The Board notes that despite no adverse news announcements, since the end of May, the share price has halved''. It has since roughly halved again as the strategy struggled in difficult markets and the previous RNS about repaid acceleration were not evidenced i.e. the markets knew something we, and the BoD, didn't, which led to-

Then at the start of last month ''We prefer to focus on becoming cash positive sooner, which we hope to achieve in Q2 2023''. Investors are questioning if and why the Co were not focussed on becoming cash positive from day 1 (and circle back to the Chairmans resignation?) and the speed the RTO funds were used.

Its just in my opinion but there must be a high chance that the last statement is being ignored as the previous never came to fruition, yet anyway. Add on the current funding arrangements and the fact that we all recognise that the share price would be much lower if it wasn't for RB buying in the open market then it seems obvious to me what the BoD need to do, which simply is to do what they say they will do.