Surface Transforms Share Discussion Threads

[bones698] 17/4/2024 13:22

It's not raising money from a position of strength either that's the point. Someone might see value here and have cash to inject while getting the company for 20m or less.
Its. A better option short term. And. A quick fire solution before more damage might get done imo

Dilution at 3p for the amount required will see this firmly at that level for some time with no guarantee of success after it either. To put it up for sale before such an event might yield a better return overall. It has to be considered given the situation imo

New management too. Not good for lth'ers but I think all hopes of phoenix from the ashes here is fading by the day

[yasx] 17/4/2024 13:19

FSP not likely to be beneficial since the Co. is not bargaining from a position of strength.

[bones698] 17/4/2024 12:46

I'm beginning to think a fsp might be the best option here. Raising cash atm looks extremely difficult without wiping out shareholders even nore. No trust in management,haemorrhaging cash. Its difficult to see many ways out that preserve value.

[alfriston2] 17/4/2024 12:35

Today's announcement answers the speculation as to whether the 9th April announcement was yet another example of the company overpromising. It clearly was, and has been corrected within 8 days thanks to shareholder pressure! Not great, as noted above, and lower sales equals lower profits, or even losses, and more cash required. Fingers crossed!

[bones698] 17/4/2024 12:23

Approaching finacers I suspect they would not give any unless there was a clearer update to get a better estimate of the risk.
Looks like at least one ii selling out that will drive the share price down until cleared as they appear to want put ASAP

[bones698] 17/4/2024 12:17

If the shareholders have forced the update today it doesn't bode well for the management. Rarely do they align to force change but these seems very likely here now

[bagpuss67] 17/4/2024 12:12

Nobody could have thought a materially worse forecast could have boosted the share price Who stood to gain from this rns. It would be different if the nomad forced it

[bagpuss67] 17/4/2024 12:10

Interesting dynamic. Influential shareholders who may have sold into a placing perhaps force an rns exposing management incompetence and weaker sales forecaat forcing a share price crash and maybe lower raise strike price?

[bones698] 17/4/2024 12:06

Mkt cap under 8m. Considering they raised over 70m alone that's some shareholder destruction. The ip must be worth more than that alone. This market is savage

[amt] 17/4/2024 11:48

If they were pushed into giving a range of sales numbers then why on earth did they reduce the top of the range by 1 million. If they had put a range of 17 to 23m then the share price reaction might have been more muted.

[bagpuss67] 17/4/2024 11:41

Spectacularly poor management.

[fevertreeman] 17/4/2024 11:26

Fwiw I am led to believe that several s/holders got in touch with both the company and the brokers demanding more clarity after the useless RNS last week. There was real anger about the refusal of Johnson/Bundred to budge on £23m forecast, which has resulted in today's announcement.

[bones698] 17/4/2024 11:14

Agreed the management have really messed up here on a lot of fronts. Why they need to go. Totally agree with fevertreeman that keeping Johnson in a lesser role familiar with customers but with no hands on the cash or running the business is a good call. Replacing him with someone decent quickly would show the old management has been removed and replaced before things get even worse.
Canncord look to be selling out the remainder of their holding only once they are out might the share price recover. 3p nailed on I would say

[bagpuss67] 17/4/2024 11:03

Zeus must be well hacked off. They have been made to look like right plonkers. Not surprised they have withdrawn guidance.

[premium beeks] 17/4/2024 11:01

Lots of exciting language and hyperbole there. Nothing to say that the company were dragged kicking and screaming to make an update. Likely just things aligning behind the scenes. Similar with forecasts from the advisor, quite obviously they need to review their figures in light of new guidance. The 40p to 3p mob really hurting, understandably. However you aren't helping to get some share appreciation by constant whining and CEO bashing!

[fevertreeman] 17/4/2024 10:42

What an utter shambles. The only person that appeared to think that £23m was credible fig is our idiot CEO, and now he's been forced kicking and screaming to respond to the bloody owners of the company i.e. his shareholders to give a realistic view on sales. Johson should step aside as CEO, go back to running tech side/ customer relations and be replaced by a creditable leader because he just isn't it

[amt] 17/4/2024 10:41

Why didn't Zeus discuss it with them before release.

[sce investor] 17/4/2024 10:38

Zeus the house broker and nomad for SCE have withdrawn their own estimates and valuation this morning pending conversations with management!