Minds + Machines Share Discussion Threads

[georgeo1] 11/11/2020 12:18

Operating cash flow for 2020 is expected to exceed $4.0 million, which would result in available cash at December 31, 2020 of more than $8.0 million.

[georgeo1] 11/11/2020 11:09

https://uk.godaddy.com/domainsearch/find?checkAvail=1&tmskey=&key=dpp_leaf_review&domainToCheck=.london&tld=.reviewType a domain from MMX onto domain. It replys 'this could be the start of something big'.Good partner if big daddy.

[georgeo1] 11/11/2020 10:58

Easier to create websites and purchase domains online during lockdown, good for my business.

[georgeo1] 11/11/2020 10:53

MMX works with an international network of registrars and domain distributors to help disseminate its portfolio, counting registrars like US-based GoDaddy Inc (NYSE:GDDY) among its partners.

[ariane] 11/11/2020 09:34

The Company also reiterates its commitment to steps that are expected to reduce costs across OPEX and COGs in 2021 when compared to their expected amounts in 2020. In addition, as a result of recent management changes, 46 million options and RSUs were forfeited, thereby reducing the Company's fully diluted shares by approximately 4.7 per cent.

[wayney] 11/11/2020 09:25

Why did you buy yesterday at 4p when all your commentary was'red flag day and 3p'

[babbler] 11/11/2020 09:09

So the Company is buying what little free float it has... Hmmm... Illiquid plus buyer = boom

[scepticalinvestor] 11/11/2020 08:09

Zero liquidityDifficult to buy

[the grumpy old men] 11/11/2020 08:02

Minds + Machines unveils share buyback programme

The internet domain specialist said it has approved the buyback up to a maximum value of £2.3mln in light of what it said was the "cash generative nature of the business”

Minds + Machines Group Limited (LON:MMX) has unveiled a share buyback programme as part of what it said is a broader strategy to deliver shareholder value.

The internet domain specialist said it has approved the buyback programme up to a maximum value of £2.3mln with the price paid per share to be no more than 105% of the average middle market closing price of an ordinary share for the five business days preceding the date of purchase. The buyback will commence on Wednesday and will continue until December 31, 2020, unless completed earlier.


Minds + Machines said the buyback has been introduced “in light of the cash generative nature of the business” and its available cash and confidence in respect of future cash flows.

In a corporate update, the company said Tony Farrow has assumed the role of interim chief executive and has worked with interim chief financial officer Bryan Disher to review the company's billings, cash flows and overall financial position as well as the day to day operations of the group.

The firm also reconfirmed its statements from September 30, that it is profitable and cash generative, adding that it is continuing to see “strong renewal billings” with operating cash flow for 2020 expected to exceed US$4mln, resulting in available cash at the end of the year of over US$8mln.

Proactiveinvestors

[scepticalinvestor] 11/11/2020 07:53

Crikey the other thread is full of dimwits

[the grumpy old men] 11/11/2020 07:30

11 November 2020

Minds + Machines Group Limited

("MMX" or the "Company")

Corporate Update and Share Buyback Programme

Corporate Update

Since our update on October 30, 2020, Tony Farrow has assumed the role of interim CEO. In his first week he has worked with Bryan Disher, interim CFO to review the Company's billings, cash flows and overall financial position as well as the day to day operations of the Group.

We are pleased to reconfirm our statements from 30 September 2020 that the Company is profitable and cash generative, with the majority of revenue being of a recurring nature. We continue to see strong renewal billings. Operating cash flow for 2020 is expected to exceed $4.0 million, which would result in available cash at December 31, 2020 of more than $8.0 million.

The Company also reiterates its commitment to steps that are expected to reduce costs across OPEX and COGs in 2021 when compared to their expected amounts in 2020. In addition, as a result of recent management changes, 46 million options and RSUs were forfeited, thereby reducing the Company's fully diluted shares by approximately 4.7 per cent.

Share Buyback Programme

As stated in the Company's most recent update on 30 October 2020 the Board remains committed to returning excess capital to shareholders.

In light of the cash generative nature of the business, the available cash and confidence in respect of future cash flows, the Board announces that it has approved a share buyback programme of ordinary shares of no par value in the capital of the Company ("Ordinary Shares") up to a maximum of GBP2.3 million (approximately $3.0 million) (the "Buyback Programme"). The Buyback Programme forms part of the Group's broader strategy to deliver shareholder value and the Company will buy Ordinary Shares in the market as well as any larger lines of Ordinary Shares, should they become available.

The Buyback Programme will be managed by finnCap Ltd, the Company's broker. The Buyback Programme is in accordance with the terms of the Company's authority to make market purchases of its own Ordinary Shares (the "Authority") and will be conducted within certain set parameters.

The Buyback Programme will be effected in accordance with the Authority in that the maximum price paid per Ordinary Share is to be no more than 105 percent of the average middle market closing price of an Ordinary Share for the five business days preceding the date of purchase. The Buyback Programme will commence today and will continue, subject to not being completed earlier, until 31 December 2020, when its efficacy will be further reviewed.

Any Ordinary Shares acquired as a result of the Buyback Programme will be announced to the market without delay. Any Ordinary Shares acquired as a result of the Buyback Programme will be cancelled.

Due to the limited liquidity in the issued Ordinary Shares, any Buyback of Ordinary Shares pursuant to the Authority on any trading day may represent a significant proportion of the daily trading volume in the Ordinary Shares on AIM and may exceed 25 percent of the average daily trading volume, being the limit laid down in Article 5(1) of Regulation (EU) No 596/2014 and, in such circumstances, the Company will not benefit from the exemption contained in this Article.

The Company confirms that it currently has no other unpublished price sensitive information other than what has been disclosed above.

[scepticalinvestor] 11/11/2020 07:27

not a bad updatemight be worth a punt at these lvls...

[hotaimstocks] 10/11/2020 20:32

LOOKING LIKE ANOTHER DOWN DAY tomorrow without news..
unfortunately britishbulls.com have an excellent record on SHORTING MMX stock & have advised its clients to SHORT mmx.

[jackson83] 10/11/2020 16:38

RADIO SILENCE continues .. RED FLAG as we head down to 3p.
lets see if mmx bother to update us before we are in the 2p's

[jackson83] 10/11/2020 01:13

not looking good silence silence silence or will Toby Hall buy into this junk con set up lol

[jackson83] 09/11/2020 19:27

Toby Hall is spending the missing millions as we head in the 3p's again.