Rhythmone Share Discussion Threads

[wheeze] 25/9/2018 15:54

I am curious to know why they released a tu today rather than wait for October. It could be a way of limiting the amount of information forcing us to wait for the results in November. It could be a way of drip feeding news to allow the share price to recover slowly or it could be done to throw the shorters off their game. The actual shorters seem to have very deep pockets cause they still have fire power left to carry on the short attack. SOL by end of this month may well approach five million.The deramping brigade are busy digging further. What can I say but short to zero!

[1gw] 25/9/2018 15:36

Suspect if they're going to report transactional kpis, they'll do it after quarter end?

[seball] 25/9/2018 15:31

Great to see the market has woken up to the positive update. Good luck all

[sikhthetech] 25/9/2018 15:27

No KPI metric either...

It would have been nice to see them to compare with previous results.

They did provide some at fy TU...

[sikhthetech] 25/9/2018 15:24

The CFO going..
Is it anything to do with the material weakneses they previously warned about..

No KPI metrics either this time... Otherwise could compare them to previous results...


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


"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. "

[seball] 25/9/2018 14:55

Great to see trading inline today. Once 230p broken this will rise swiftly to over 300p imo

[jonc] 25/9/2018 14:48

It is clear that there was a leak of this bad news late on in trading yesterday hence the collapse in share price near the close.

[digitalis] 25/9/2018 14:01

I have no financial interest in TLY thank the lord....so I would not be seen dead or waste my time over on the tly threads bad mouthing the stock.....
Sikhs what’s your excuse for doing your head in R1?....

[dippy5] 25/9/2018 13:51

The share price will rise from here on. Shorters have been selling heavily into demands today in order to control the price. the shares on loan are going to rise further, putting further pressure on them. They are no fools in digging deeper and deeper holes for themselves. They simply have no choice and are forced into this situation, greed!!!

[sikhthetech] 25/9/2018 13:50

The gang appear to have damaged their own wealth materially chasing rthm down. That doesn't give them any right to try to damage other people's wealth by trying to sucker them into doing the same.

[sikhthetech] 25/9/2018 13:48

The gang appear to have damaged their own wealth materially chasing rthm down. That doesn't give them any right to try to damage other people's wealth by trying to sucker them into doing the same.

[sikhthetech] 25/9/2018 13:36

I think the rampers were expecting the TU in 2 or 3 weeks time, hence why they started ramping over the past few days... 2 weeks of gradual share price rise would give them higher profit to reduce those losses...

The early TU has stumped them...

I'm expecting the share price to fall back, as it has done so after previous TU/results..

[borgioli] 25/9/2018 13:27

Pretty good update, i was expecting a bit more revenue though.

1gw re:6793
That's what i'm hoping for. ;)

[barkboo] 25/9/2018 13:26

Gordon - that paragraph you pull, suggest they have a buying target up their sleeve?

[1gw] 25/9/2018 13:02

Perhaps it reflects a move to the US style of "beat and raise"?
Ie set expectations just ahead of quarter-end, then beat those expectations with the actual results and raise guidance. The bulls can hope.

[jonc] 25/9/2018 13:00

What was great about it?

It confirmed that YuMe is a dog.

No organic growth in revenues.

No mention of profits or cash.

And they have fired the CFO!

[stocky] 25/9/2018 12:50

Great RNS. Why is everyone going on about TLY? Seeing TLY shareholders lose out is not exactly going to help R1 shareholders. Hopefully, we will see 300p in the next few weeks.