Rhythmone Share Discussion Threads

[lance corporal winstanley ash] 23/9/2018 14:17

Sikh, for God's sake just go back, edit the post and deny all knowledge of saying it!!!

[1gw] 23/9/2018 14:13

So absolutely no evidence for that housing market claim then, stt? Do we take that as admission of another fib?

[loafofbread] 23/9/2018 14:11

I'm sure I've read that post before?

[sikhthetech] 23/9/2018 13:44

The company has said ...
"MATERIAL WEAKNESSES", "SIGNIFICANT" costs, "ADVERSELY AFFECT...OPERATING results..IN THE FUTURE.""

Added to the exceptionals expected from closing the 'low margin operations'...
kitchen sinking and new management finding any skeletons spring to mind..


"D. Changes in Internal Control Over Financial Reporting

As a result of material weaknesses related to the (i) insufficient nature of RhythmOne’s formally designed, documented and implemented control processes and review procedures; (ii) lack of adequate controls over key reports and spreadsheets; (iii) lack of key accounting personnel with the requisite knowledge and experience of IFRS for complex transactions and SEC rules; and (iv) lack of adequate control over preparation and review of key balance sheet account reconciliations with respect to the acquisition of YuMe, management is in the process of implementing changes designed to prevent material misstatements and improve its internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act). Specifically, RhythmOne intends to hire necessary additional competent and qualified accounting and reporting personnel with appropriate knowledge and experience of IFRS and SEC reporting requirements. RhythmOne also intends to establish an ongoing program to provide sufficient and additional appropriate training to our accounting staff, especially training related to IFRS and SEC reporting requirements. Additionally, RhythmOne is implementing a reconciliation process whereby invoices received are matched to media buy and publisher accruals."







Page 43..

"SIGNIFICANT costs", SUBSTANTIAL MANAGEMENT TIME", "ADVERSELY AFFECT...OPERATING results..IN THE FUTURE."

"The combined company will incur significant costs and devote substantial management time as a result of becoming subject to reporting requirements in the United States, which may adversely affect the operating results of RhythmOne in the future.

As a company subject to reporting requirements in the United States, the combined company will incur significant legal, accounting and other expenses that RhythmOne did not incur as a public company in the United Kingdom. For example, RhythmOne will be subject to the reporting requirements of the Exchange Act and is required to comply with the applicable requirements of the Sarbanes-Oxley Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act, as well as rules and regulations subsequently implemented by the SEC, including the establishment and maintenance of effective disclosure and financial controls and changes in corporate governance practices. Compliance with these requirements will increase RhythmOne’s legal and financial compliance costs and will make some activities more time consuming and costly, while also diverting management attention. In particular, RhythmOne expects to continue to incur significant expenses and devote substantial management effort toward ensuring compliance with the requirements of Section 404 of the Sarbanes-Oxley Act, which will increase when it is no longer an emerging growth company as defined by the JOBS Act. "

[sikhthetech] 23/9/2018 13:42

ff,

The company has said ...
"MATERIAL WEAKNESSES", "SIGNIFICANT" costs, "ADVERSELY AFFECT...OPERATING results..IN THE FUTURE.""

Added to the exceptionals expected from closing the 'low margin operations'...
kitchen sinking and new management finding any skeletons spring to mind..


"D. Changes in Internal Control Over Financial Reporting

As a result of material weaknesses related to the (i) insufficient nature of RhythmOne’s formally designed, documented and implemented control processes and review procedures; (ii) lack of adequate controls over key reports and spreadsheets; (iii) lack of key accounting personnel with the requisite knowledge and experience of IFRS for complex transactions and SEC rules; and (iv) lack of adequate control over preparation and review of key balance sheet account reconciliations with respect to the acquisition of YuMe, management is in the process of implementing changes designed to prevent material misstatements and improve its internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act). Specifically, RhythmOne intends to hire necessary additional competent and qualified accounting and reporting personnel with appropriate knowledge and experience of IFRS and SEC reporting requirements. RhythmOne also intends to establish an ongoing program to provide sufficient and additional appropriate training to our accounting staff, especially training related to IFRS and SEC reporting requirements. Additionally, RhythmOne is implementing a reconciliation process whereby invoices received are matched to media buy and publisher accruals."







Page 43..

"SIGNIFICANT costs", SUBSTANTIAL MANAGEMENT TIME", "ADVERSELY AFFECT...OPERATING results..IN THE FUTURE."

"The combined company will incur significant costs and devote substantial management time as a result of becoming subject to reporting requirements in the United States, which may adversely affect the operating results of RhythmOne in the future.

As a company subject to reporting requirements in the United States, the combined company will incur significant legal, accounting and other expenses that RhythmOne did not incur as a public company in the United Kingdom. For example, RhythmOne will be subject to the reporting requirements of the Exchange Act and is required to comply with the applicable requirements of the Sarbanes-Oxley Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act, as well as rules and regulations subsequently implemented by the SEC, including the establishment and maintenance of effective disclosure and financial controls and changes in corporate governance practices. Compliance with these requirements will increase RhythmOne’s legal and financial compliance costs and will make some activities more time consuming and costly, while also diverting management attention. In particular, RhythmOne expects to continue to incur significant expenses and devote substantial management effort toward ensuring compliance with the requirements of Section 404 of the Sarbanes-Oxley Act, which will increase when it is no longer an emerging growth company as defined by the JOBS Act. "

[sikhthetech] 23/9/2018 13:38

why would football need 5 threads...









Desperate or what...

[jonc] 23/9/2018 11:14

It will depend on the numbers in the trading update.

This is supposedly a fast growing industry and YuMe has struggled to grow its turnover and the BoD are gradually reducing expectations for the business as a whole.

There will be some ups and downs but ultimately short to zero.

[goblin99] 22/9/2018 21:28

What the mahongistani is going on here. Have just come back from the doobistani bar, having had my flat white and pastel de nata, and very nice it was too. After consumption of said morsel, I pondered and wishfully thought of the chill wind of refrain. I realised there and then, that it is amongst us now, but there is nothing that you and I can do, except await the inevitable. This is but our destiny, and fear not, for the roll of the dice is just that. An illusion that befalls us until the next chapter, one that for most is an illusion that scorches the path that we walk on. The answer that you all purposefully yearn is not of significance, rather the question that you do not yet understand.

[kendonagasaki] 22/9/2018 20:29

Hope you enjoyed your holidays Jon C!Visiting the far flung exotic places and sampling the local wares?I bet you choked on your rum and coke when the waiter asked if you had ever tried goat meat?Not a pleasant site for holiday makers who saw you making love to your goat cheese burger i'll wager..?You Deviant!

[kendonagasaki] 22/9/2018 20:22

PS, if you can't make it coluld posibly spare one of your uncles?November the 5th is not on a Tuesday this year and as far as i'm aware the functionality of the London Underground on that day is at an optimum with no strikes planned.Kind Regards.Kendonagasaki.

[kendonagasaki] 22/9/2018 20:17

Sikh hi, hope you are well and your loved ones past as well as present.Just asking for a favour from you.As you know November the 5th is soon upon us and i'm building a huge bonfire for my grand children as i do every year.I wonder if you could volunteer as our Guy Fawkles?Of course its for the kids and i'm sure you'll be a sure fire hit and go out with a bang.

[freddie ferret] 22/9/2018 16:21

Very cautiously I think this is breaking upward.

500p soon.

[1gw] 22/9/2018 15:57

Since you're around and it's quiet, perhaps you could reciprocate, stt and provide some evidence of your prediction of a 40% fall in house prices?

Were you talking about a past crash or a future one? Because if I look at a chart (and a couple of examples in the links below), even in 2009 it doesn't seem like prices fell 40% even on a quarterly basis. And if you made the prediction "years before they actually happened" I'm not sure even at the trough the price would have been lower than when you made the prediction would it?





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sikhthetech 20 Sep '18 - 21:56 - 8802 of 8853 0.100000 3 1
...
I mentioned the house prices are going to crash by 40%, qxl are worth £300, pace takeover at 500p.. all years before they actually happened...

[sikhthetech] 22/9/2018 15:09

as expected... too early for the consequences of GDPR to hit..

GDPR And Consent: Calm Before The Storm?

"At the same time, ad tech companies celebrate multimillion- or billion-dollar acquisitions built on publishers’ audiences, highlighting once again the unsustainable imbalance within the programmatic ecosystem. The gap between the few distinctive and differentiated publishers and the many trapped in a programmatic monoculture is widening."

[1gw] 22/9/2018 09:06

o/t but since you asked the question about housebuilders and the referendum, stt, yes I did position myself defensively (taking my housebuilder portfolio holding down from 24% at end March (2016) to 11% on 23rd June) and it was a wonderful move in the end, allowing me to buy back in at much lower prices and benefit from the next upswing. Because we were on a rational investor bulletin board (CRST) the private investors there perhaps were able to help each other:

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Sikhthetech 21 Sep '18 - 09:37 - 8813 of 8851 0 1 1

…And the house builders, with their solid finances, were affected by the famous Referendum, which the markets, the BoE and the government were not expecting to be 'leave'...
The share price of house builders fell sharply didn't it???? Did you anticipate that whilst you were holding?
...
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1gw 22 Jun '16 - 12:00 - 1445 of 2170 Edit 0 1 0
Sold some more at 582p. The "brexit" risk looks very asymmetric to me now - with the risk of a big fall in shareprice if we get a "surprise" out vote.
Crest Nicholson still in my top 10 holdings but no longer top 5. I now have just 13% in housebuilders (TEF again my biggest housebuilder position) and about 9% in cash.

gbh2 23 Jun '16 - 15:40 - 1446 of 2170 0 1 0
I've sold half my holding today, so the market can do what it wants tomorrow, I have cash in reserve:))

1gw 23 Jun '16 - 21:09 - 1447 of 2170 Edit 0 0 0
I sold my Bellway position today, so now approx. 11% in UK housebuilders (TEF and CRST) and 11% in cash. Defensively positioned I guess so likely to miss out to some extent on a "remain" relief rally, but easier to sleep at night that way...

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[football] 21/9/2018 20:21

can with have a whip around and send stt on a holiday to switzerland with a one way ticket maybe?

[lance corporal winstanley ash] 21/9/2018 20:01

Assume that's directed at stt?

[bennywin] 21/9/2018 19:53

Still 21.5p old money

Hardly worth frothing at the mouth about is it ?

[loafofbread] 21/9/2018 17:52

sikh,

Any chance you could go on holiday for 3 months (or longer) like your chum?

[wheeze] 21/9/2018 17:16

Yes and we were hearing calls of short to zero at 190p.Lombard Odier adding is a very positive sign. We won't be at 215p for long.

[sikhthetech] 21/9/2018 16:41

wow.. wheeze, closed at 21.5p, old money... still around 60% lower to where they were at fy 2017, pre Yume deal....

[wheeze] 21/9/2018 15:18

217.50 Time for some desperate shorting perhaps ?I think I am going to enjoy this weekend.Those caught short, OTOH, may not.