Tinybuild Share Discussion Threads

[hatfullofsky] 29/6/2023 14:04

The results are awful and cover FY23 and FY24.

At 8p TBLD are valued at £16m, they have confirmed cash at $10m / £8m at YE23 so they currently have and EV of £8m, which covers there whole back catalogue that generated FY22 Revenue $63m / FY21 $51m.

I managed to buy some at 6.52 and 5.51 on a spreadbet, I am expecting the CEO to start buying or even take this private. Either way I don't believe we'll be under £20m for long.

It's a pure trading opportunity

[hatfullofsky] 29/6/2023 13:59

Disco if you think NAV is 45p and they are trading at 8p wouldn't you say that's a bargain ?

[tomboyb] 29/6/2023 11:03

Will it bounci -

[disc0dave45] 29/6/2023 10:59

Hi CatabritNo idea what their catalogue/ IP is worth, NAV is about 45p.Main issues for me are their cash burn (the CEO believes in money trees!, spends ridiculously on staff, etc), the CEO and BoD's complete lack of any conviction in the market value of the business (no share purchases), monies are distributed to the CEO's wife as a dividend, no clear strategy in terms of managerial structure and responsibilities (basically due to so many staff now spread all over the place the CEO has imposed self management with teams seemingly doing what they want)......more importantly IMO my trust in the BOD is now zero.

[catabrit] 29/6/2023 10:34

Hi Disco! What a disaster this thing is?!? Has any LSE / AIM IPO from 2020 actually made money for anyone other than the advisers and selling shareholders?

Can’t believe how overvalued this thing was.

Nuts.

Will add it to the watchlist but if it’s incinerating cash and has no levers to pull, we all know how that ends up. The net cash offers zero protection.

Any idea what the value of the catalogue / IP is to a competitor / trade buyer? Sorry for being lazy. I’ll go through the thread to see what’s been shared and I’ll also check any broker notes.

[disc0dave45] 29/6/2023 09:20

I still contend that the core business only made $400k (£316k) last FY. The "other income" was not net zero to the bottom line, no wonder the CFO has gone. If this year is going to be materially worse, wtf will that do now to their "real" profits?. Work out eps on £316k, 0.16p, say being generous a PE of 20x, 3.2p!.

[mn100mobile] 29/6/2023 09:03

iWeb don't allow you to buy this?

[hatfullofsky] 29/6/2023 08:44

Will be interesting is the CEO now buys more, like he's been promising.

I guess we now know why he hasn't yet.

[johnyee 7] 29/6/2023 08:37

This has constantly been tipped as a buy over the years by the press and investor mags. glad I didn't listen.

[lewis winthorpe] 29/6/2023 08:29

Eventually a nice little private company out of the ashes. The best titles held....rinse and repeat.

[johndoe23] 29/6/2023 08:25

I'm afraid I would bracket the CEO here in the same league as the clowns who run LOOP. Maybe not as bad, but still bad. Clueless how to run a business

[mortal1ty] 29/6/2023 08:14

A significant number of large institutions who bought in will be wondering why they have a now tiny % of their portfolio in this. They will dump it at any price. Wouldn't be surprised if this doesn't drop to net cash. Although within 6 months it will be net debt.

[babbler] 29/6/2023 08:11

Soon... Mad but it was horrible results

[johndoe23] 29/6/2023 08:01

Some mental folk actually buying first up

[johndoe23] 29/6/2023 07:41

Stop has saved me here

[hatfullofsky] 29/6/2023 07:30

It's a terrible update, 50% down or more I expect

[disc0dave45] 29/6/2023 07:30

Ouch
And the BoD only 3 months ago said cash $26.5m at year end and their outlook was:

“All considered, the Board remains confident the Company is on track to deliver results at least in line with expectations, plus accretive acquisitions.”

The BoD are full of it. Alex still no sign of buying more shares said it all to me. I’m staying well clear.

[lennonsalive] 29/6/2023 07:16

Ouch, removed from watchlist

[lewis winthorpe] 29/6/2023 07:14

That's not a good update. Nearly bought into this at float, lucky escape. Sorry for all who did but same old story with games developers

[johndoe23] 26/6/2023 16:27

Should be july

[epicwarlock] 26/6/2023 16:23

PS, a bit of buying action today, which is a small, but encouraging reversal of the constant selling action of recent weeks

[epicwarlock] 26/6/2023 16:21

Anyone know when the next trading update is coming?The recent bump down seems to have us stuck down here meanwhile....

[disc0dave45] 21/6/2023 19:12

Broker Citi on KWS today. But according to some here, AI has nothing to do with the video gaming sector, in fact "The gaming industry has absolutely no connection to AI in the slightest and the purpose AI serves. It would be like putting electric cars and a kettle into the same bracket because they're both electrical."Citi stuck to its 'neutral' recommendation for Keywords Studios, telling clients that the risks around generative artificial intelligence struck them as "likely overstated". "For what it is worth, it strikes us that some of the concerns about the long-term risk associated with generative AI - which are oft cited as the factor behind the recent aggressive derating - are likely overstated," they said in a research note sent to clients.