Proxama Share Discussion Threads

[barvin] 21/9/2017 08:50

Thanks for your info, so it looks as £375k was used. So around £2m should be left, that gives them another 8 months from now before a cash raise on current burn imo.

[boffster] 21/9/2017 00:15

There was no need to pay back Barclays, the Barclays debt was waived in exchange for warrants. So the company's cash balance is rather healthier than you have stated above.

[barvin] 20/9/2017 22:11

So with cash at £400k at the start of July, they would have got around £300k (after costs) from the placing following paying back Barclays. That gives them £750k cash.

So we are almost 3 months on with cash burn at around £250k a month (£1 mill turnover minus £4m cost base)

Can it be conceivable that they need to do another fundraise very, very soon? Even after the total ballache of the last one? Add two new directors salaries into the mix and a few new hires. That £50k turnover so far for Location, really highlights how much work they need to do here.

There may be a £50k-£75k bump from the National Rail App, but I think this is looking extremely dire. Something not right here, I would seriously be looking at exiting this, even at least till some prospect of deals and future funding is made clear.

[the stigologist] 20/9/2017 14:14

At Half Year Balance Sheet date they looked to have Net Negative Current Liabilities of c.£4m

Even with the £3.1m raise they still looked screwed

[barvin] 20/9/2017 11:15

My apologies, you are correct just looking at Peel Hunt's RNS
3,096,851,313 / 22.53 x 100 so £4m market cap at 0.3p.

With a £4m cost base and their main business generating £50k, doesn't fill with confidence though

[trek3] 20/9/2017 10:58

Barvin,M/K currently stands at £4mil,not 13mil, big difference.

[alphapig] 20/9/2017 10:45

Peel hunt just can't get enough of Prox.

[falia] 20/9/2017 10:45

GUYS GET INTO TYRU, RISING FROM LOWS

[tomps2] 20/9/2017 09:58

2017 Interim results & trading update presentation by:
• John Kennedy, CEO
• Mark Slade Managing Director, Location Sciences
• Dan Francis, Chief Strategy Officer


(c.11mins)

Highlights – 00:33
Trading update – 01:22
Summary of H1 2017 – 02:34
What is Location Sciences? – 03:11
Why Location Sciences is different – 04:42
What problems Location Sciences solves – 06:17
Challenges, risks and opportunities – 07:25

[the stigologist] 15/9/2017 07:32

Where's steveglobal?

[ochs] 12/9/2017 12:53

Hi axotyl - those are just the shares each Director (or major shareholder) took up in the recent placing at 0.03p - so it was all 'off market' and none of them were bought in the market.

[hazl] 11/9/2017 08:03

BUT Barclays support?

[jerseymike] 11/9/2017 07:43

I had been hoping for news of income, no matter how small. This is just the establishment of a new trading name and not the slightest indication how it will earn/monetise what it does.

[axotyl] 09/9/2017 18:24

Could anyone shed light on these directors' dealings at the end of June'17?

[shsi] 06/9/2017 09:39

I don't think so Barclays needs any support from outside; they have a lot of permanent resources working on internal solution team or top of it they have local contractor or consultancy resources from Accenture/TCS etc...
Couple of my friends are working there

[the stigologist] 29/8/2017 15:29

steveglobalmuppet very quiet or has he dumped ?

[alphapig] 24/8/2017 16:40

Yeah, peel hunt must be cracking the champagne as we post :)

[steveglobal4] 24/8/2017 16:22

More prox being purchased by peel hunt,
This is getting interesting now.