Pelatro Share Discussion Threads

[rivaldo] 26/6/2023 09:16

Friday's AGM statement seems to have gone unnoticed, but - at last! - it seems to show a continuing momentum and recovery:



"Current trading

Recent contract wins demonstrate our continuing success in securing contracts with large customers building the Group's recurring revenue base. With these, the Group now has 28 customers and an ARR of over $7m.

In addition to these, we continue to see strong demand from our existing customers for change requests and have contracted for around $1.7m already this year in respect of this revenue.

Outlook for the year

Our pipeline remains strong at around $23m, including some $5m of non-telco prospects - its highest ever level and which we are confident will produce results in the coming months and years."

[colinroberts] 06/6/2023 10:15

That's what I did a while ago. Shame really - I liked this one but lost faith. I keep track on it out of curiosity, but have to say I feel a lot safer where I am now (mostly BGO & EQLS).

[cordwainer] 05/6/2023 23:19

"Broadly the Company is seeking to make acquisitions that will add quality recurring revenue and will diversify the Company away from both emerging markets and the telco sector and add new verticals and a broader geographic presence."

... maybe because the original business case has failed to deliver. I wondering whether I should just switch investment to something which already has a better business case.

[gleach23] 03/6/2023 13:33

In searching for this year's AGM date (as in the past there has been a trading update on the day) I came across the 'Notice of AGM' RNS from Thursday just gone, questionably timed @ 17.26.

The RNS advises the AGM will be 23 Jun and includes the following (it'll be interesting to see what price any new shares will be issued at)-

"Share authority, funding and potential acquisitions

The AGM notice contains both ordinary and special resolutions to enable the Company to issue a significant number of shares on a non-pre-emptive basis, up to an aggregate nominal amount of GBP1,875,000.00, . Such issue is intended to finance potential acquisitions and any associated working capital required. The Company has received indicative non-binding commitments from a number of overseas family offices as well as from management of the Group to subscribe for any shares to be issued that will fund the entire consideration for any potential acquisitions that are completed thereby underwriting the entire issue without the need to raise any funding from the UK market. The number of new shares issued might be considerably less than the amount allowed for in the special resolution depending on the price at which the shares will be issued. Seeking the above mentioned authority the Directors believe will ensure speed and certainty of funding.

Broadly the Company is seeking to make acquisitions that will add quality recurring revenue and will diversify the Company away from both emerging markets and the telco sector and add new verticals and a broader geographic presence.

Having discussed this issue with the Company's major shareholders, the Board considers this proposal to be in the best interests of shareholders and encourage them to vote in favour of the relevant resolutions at the forthcoming AGM.

There can be no certainty that any acquisitions will complete or the terms of any such acquisitions. Shareholders will be updated as soon as possible on progress and the Board commits to only use the substantial share authority sought to help fund strategic acquisitions.

"As a significant shareholder, I will endeavour to minimise the dilution to the extent possible thereby protecting shareholder value", said Subash Menon, the CEO, Managing Director and Co-Founder of the Company."

[gleach23] 02/6/2023 07:15

First of one or two more rabbits to be pulled out of the hat with any luck. A change in sentiment could see some nice gains here after the last 18 months.

[babbler] 02/6/2023 06:25

Nice news at last.

[cordwainer] 02/6/2023 00:42

Not many companies’ finals are met with this silent deadness. Reflects the investor relations scorecard I suppose.

[gleach23] 21/5/2023 14:52

Thanks Wilske...let's hope you're right

[wilske] 21/5/2023 14:14

Dear All

I have finally got a response from Harry Berry (non-exec Chairman) and he says results/trading statement will be out in a few weeks and audit is in progress. I told him the total silence since Jan is unacceptable from investor relations perspective and that it destroys management credibility and asked that they at least put out a notice of results asap to provide some degree of reassurance. I believe these results will be pretty awful and they will take the chance to throw everything in these results to clear the decks for a better 2023.They should be keeping a tight grip on costs right now to preserve cash so that they dont need to raise any money. Ive also contacted the CFO and CEO but i dont expect them to answer. Will share any more responses I get. Fundamentally there is nice business here but they need to keep costs down (reduce R&D spend if necessary and that means reducing headcount) chase down trade receivable's and nail on some more contracts to put the business on a a stronger financial foundation. If they can do that they should be able tor trade their way out of this position and get back on track.

[gleach23] 18/5/2023 20:17

All gone a bit tumbleweed with PTRO. Finals used to be out in April then last year there was an RNS on 10th May to explain the results were delayed to later in May due to the auditors needing more time. Now it appears to be the norm...

[gleach23] 19/4/2023 08:37

Yes noticed that rivaldo...can't get a quote for buying 5k shares currently.

Still have my holding and had a speculative nibble at just under 5p a couple of months ago but the words rabbit and hat keep springing to mind whenever I think of PTRO.

[cordwainer] 13/4/2023 18:29

over 3 months of silent gloom. wow.

[cordwainer] 18/1/2023 12:26

Fair point there's been no mention in RNS's since Finals of May 22:
"We have also been extending the breadth and quality of our products and services we provide to our telco customers. Part of our growth effort has been directed towards the non-telco space, where non-telco brand campaigns and adverts can be sent to consumers via their mobile phones. We have recruited a senior manager for this area and are building the team but are proceeding cautiously in terms of new contracts to ensure that they are on appropriate terms."
But it was only described as a new business *pipeline* of circa $17m. With no mention of it in the subsequent interims or updates we can only assume this idea fell through.
Personally I don't think it should have been mentioned at all without a signed contract or at least MoU.

[sidam] 13/1/2023 10:41

One of the reasons I bought was the move into advertising revenue which was projected to generate $15m of revenue. Any idea where that is?

[rivaldo] 13/1/2023 09:53

Well, this has been a disaster. I posted before that PTRO were prone to banana skins, but this is ridiculous! Things seemed to be looking up...I understand the general economic climate isn't exactly supportive, but other telco software-type companies seem to be doing OK. PTRO are still pretty small, so any contract delays/problems tend to be big problems as regards the year end numbers given the relatively small client base.

Having invested here largely on the basis of the CEO's highly successful track record I'm extremely disappointed at the number of mis-steps.

Nevertheless, two of the three issues in the latest update are in essence just pushing out of numbers from 2022 into 2023 and beyond, and the $0.3m provision is the first of its type and not hugely material.

With a £2.95m m/cap now, and per Dowgate Capital $1m net cash rising to $1.5m this year, plus $7.5m revised forecast revenues this year which are largely recurring, for an optimist it's possible to see good upside from here, even if sentiment will likely remain extremely negative for some time to come!

With the results not out (presumably) until May I'd have thought the directors should be free to buy in the market now that the trading update is out? It would be helpful if they were to show some commitment in this respect.....

[hew] 13/1/2023 08:14

Cordwainer, re the 25 customers, see the June’22 AGM statement. Subsequently the H1 statement mentioned winning 3 customers in 2022, but they could of course be included in the 25.

[casholaa] 12/1/2023 22:45

Luck is needed.

[cordwainer] 12/1/2023 22:00

Can't say I've noticed a 25 current customers figure anywhere lately. Wondering if that means 25 contracted customers or just actively engaged with 25 customers whether contracted or trailling and testing ?
Damn hard to track the customers when they're largely unnamed in announcements.
I'm sure some of those 25 will be part of the same parent group(s), not that that matters much.
Agree hew it could be oversold now albeit highly speculative.

[hew] 12/1/2023 10:45

Suppose it's easy to say as my remaining value-at-risk is now relatively so small, but I’m letting it sit. I see the upside potential of the share price from today’s ~6p as well above the further downside risk anyway.

Reviewing my notes from mid-2022, although the current and near-term projected financials are indeed grim, I still see some substance in the organization: currently 25 customers, the mViva platform and the new prospects already in play. If, repeat IF, those do turn firm - agree Cordwainer’s concern there – and the delayed income materializes as expected, I see decent recovery potential rather than further falls.

[earwacks] 12/1/2023 08:51

Sorry for my earlier post ‘scandalously incompetent.’ I meant disgracefully inept.don’t know if Evil managed to extract his enormous position in this stock. Clearly the rupee v dollar has been an issue but not an excuse

[cordwainer] 11/1/2023 22:10

They have a lot riding on that one Proof Of Concept client doing a 6 month trial which is due to complete this January.

[jdh1602] 11/1/2023 19:23

Yep, I saw. That means the price should go up tomorrow :)) Well, it will be 2 years, and -80% for me. Luckily, I started small.