Rosslyn Data Technologies Share Discussion Threads

[1jki] 04/3/2024 10:29

OMG....less than 3 months cash, less revenues than an appalling 2023, and an ebitda loss of £3M.... this is a cash burn of circa more than £5M a year.

This statement has been made less than 15 days after they told everyone that they were on target for £12-15M of ARR within 12-18 months.

[kemche] 04/3/2024 10:06

What an absolute shocker! Who could have predicted such a thing?

Roll on the fundraising.

£1m at <5p?

[1jki] 20/2/2024 15:41

good point on the maths for ARR Harry. I'll watch the recording when it's released. too annoyed with the nonsense being spouted. Yet again another story of hyper growth coming soon. I thought the AI demo was weak. In a world where AI is intuitive and interactive, this looked extremely green screen.

[harry163] 20/2/2024 14:45

Agree with @1jki - You only need 50 new clients, in the medium term, all paying at least 250k per year on multi-year contracts to deliver 12 million ARR. Quite realistic, based on current sales performance.

Just heard that the CEO has spent 100% of his time since the latest fundraise on Sales Execution. Talk about shooting yourself in the foot! No new business since fundraise.

When asked when prospects may be converted into actual clients, the CEO said 'I don't know'. Bodes well for the 50 new clients 'in the medium term'.

CEO delusional about the fact he could be running an even larger company when he has all but destroyed this one.

[1jki] 20/2/2024 14:26

signed off from webinar. 30 seconds on results, remainder is trying to tell us what AI is. Proof will be in the sales for the second half of this year.

[1jki] 20/2/2024 14:07

hopefully you've all signed on to the rdt webinar. i've already started to cry with laughter. short term ARR to be £12-15M. This was slide 1.

[1jki] 31/1/2024 14:59

There's a results webinar posted on linked in. Sign up and listen in. Should be interesting.

[1jki] 29/1/2024 13:44

Watts told us…
Oct 21. This past financial year has been one of investment, which has provided us with a solid platform on which we can capitalise and grow.
Apr 22. Much has been accomplished during the first half of the year to set the Group on a growth trajectory,
Jan 23. As a result, we are on track to deliver strong growth for the full year
Apr 23. The response from our clients and marketplace has been excellent and we are receiving growing demand
Oct 23. We have transformed our business, and established the foundations for sustainable growth
Jan 24. Following a year of major transformation and restructuring we have now established the foundations for us to accelerate growth
Actual growth April 2021 to April 23 = £4.1M to £3.0M, a deterioration of (£1.1M) (27.5%) restated, left as was £7.4M to £3.0M, a 66% shrinkage. So much for growth!
Forecast for 2024 ?
Time for someone to step down and show some character!

[kemche] 26/1/2024 10:10

It's just a farce.

[1jki] 26/1/2024 09:51

The posts yesterday made it clear that this is not a going concern without another fund raise.

The valuation of the software is hyper critical, they only started to capitalise this 2 years ago. Has £10M of cash spent now considered old tech... all we've heard from the Board is that the new product is so valuable that sales are gong to soar. Something the auditors and board obviously don't believe.

On your last point, they are either misguided or just blatantly doing as kemche states. I know where my thoughts lie.

Watts has to go, and so does the Chairman.

[harry163] 26/1/2024 09:26

STOP PRESS.

A second set of Interim Results just published!
The missing text from the first version is:

"The audit report drew attention by way of emphasis to a MATERIAL UNCERTAINTY RELATING TO GOING CONCERN and included an emphasis of matter paragraph in relation to the valuation of intangible assets and the uncertainties associated with the successful commercialisation, value and timing of product sales."

This attempt to file incomplete Interim Results, leaving out such important information for investors, may be due to the management team being forgetful, incompetent or potentially economical with the truth.

[kemche] 25/1/2024 12:17

Pure lifestyle. Nothing more.

[hastings] 25/1/2024 11:50

It would be laughable if it wasn't so appallingly bad. Laurel and Hardy springs to mind.

[1jki] 25/1/2024 10:52

You have to laugh at these results.
#harry123 They are presented as being a great achievement. The CEO stated in August 22 that the number of users per client had increased by 900%. So these were obviously free users and no revenues.
They were going to be break-even in April 23....
This is the third time that he's spoken of creating a new base for the business, FFS the base must be thick enough to hold building twice as high as the shard.

CAC the standard measure for a SaaS business is 7 years. 7 YEARS!
No wonder we saw no contract win announcements during the year.

Pipeline conversion was the one that made me smile though.... a £4m pipeline becomes £100K in new revenue... whoopee doo!

[kemche] 25/1/2024 09:32

So March/April for another fundraising then.

Basketcase. Utter.

[harry163] 25/1/2024 09:29

Interim Results.
You have to laugh as this team must be the worst pseudo-entrepreneurs on AIM, that is saying something, complete clowns.

From CEO:
- "We have now established the foundations for us to accelerate growth", where have we heard this before?
- "We are also very excited by the innovative work that we are doing with generative AI", as is every technology company!
- "We continue to look to the future with confidence", this where we laugh :)

Revenue was £1.4m
- what happened to the projected / promised growth
Administrative expenses maintained at £2.2m
- atrocious cost management, still looking after friends and family
Cash burn rate was £276k per month
- CFO stated this would be 100k, no financial controls
Cash and cash equivalents of £2.2m as at 31 October 2023
- raised 3.3m in Sept, 1 month later 1m burned

The company will be raising money again by March, as at the current burn rate they will go bust in May. Good luck with that one!

[hatfullofsky] 20/1/2024 00:03

Somebody is very positive, expect a TR1 shortly

[private38] 19/1/2024 11:46

All dead cats bounce and given how far this has fallen it may bounce nicely but its a dead cat. Sales professionals are driven by the excitement and commissions of selling. They are like strikers on a football team. If they are leaving they are doing so because they can make more elsewhere - binary. This means RDT has less sales capacity which will be reflected in more of the same - i.e. no sales. The CEO is a shocker and the Chairman is rotten. The recent rise is not sustainable unless sales come through - the stock is in a vacuum. Lets hope someone takes these miserable incompetent idiots out and we are able to take what few pennies we have left off the table and put it into something better.

[1jki] 17/1/2024 17:41

just seen on linked in that another salesperson has left. Paul Hill might be right.

[boll] 16/1/2024 16:28

Paul Hill also of Vox markets has or used to have a holding in RDT according to his podcasts last year. He may have sold but at th3 tim3 was pretty pessimistic as to its prospects

[1jki] 16/1/2024 16:25

#harry163,you need to have some faith