Share Name Share Symbol Market Type Share ISIN Share Description
Tungsten Corp LSE:TUNG London Ordinary Share GB00B7Z0Q502 ORD 0.438P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 53.90p 53.00p 54.80p - - - 0 12:02:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 31.3 -12.7 -9.9 - 67.95

Tungsten Corp Share Discussion Threads

Showing 9876 to 9900 of 9900 messages
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DateSubjectAuthorDiscuss
22/6/2018
09:36
@htoast You said (7316) What a load of tosh, you have no idea what you’re talking about! Previous CTO is top calibre, acutely smart with big picture vision and knew exactly what Tungsten needed to succeed; certainly more than just a CTO. He just so happened to continually embarrass RH it was clear RH was out of his depth and didn’t appreciate his ego being bruised. I said (7317) My memory is bad. Beyond 'standardise platform' and 'implement salesforce' please remind me what the strategy that was so good mr profit had to go was. Thank you for the correction. I knew Mr Profitt left, but not why, and as he was the CTO assumed he ran or had a position on all the IT projects, and did not know there was a significant one that completely failed that was run by DW alone. Please tell us the full story, you clearly have much more knowledge to share - many here would be interested, I like stories. Also would very much like to know what his big picture vision was - what should TUNG be doing _now_ that RH and the current BOD currently arent doing or cant do. Thanks
andrewdbl
21/6/2018
19:41
@andrewdbl If only it were that black and white. The single biggest IT project that wasted any serious amount of money was managed and governed by the Finance Director for some bizarre reason, it had not one jot to do with the now gone CTO; unsurprisingly it was eventually canned. So, not only is your memory poor, your insight and facts are. It seems to me that the CTO is being scapegoated.
htoast
21/6/2018
11:21
Cash at Oct 17 was 7.965m reducing to 6.4m at year end 18 The figure you quote includes invoicing receivable
phillis
21/6/2018
09:09
The market agrees with you Woozle1. Look at the SP; the mega-milestone that wasn't imo.
manics
21/6/2018
08:47
Telling you they are EBITDA positive sounds great but, guys, that is only because they started capitalising software costs in 2017. Without this change in accounting the company would still be EBITDA negative. Here is the cash position and this is what one needs to focus on: Cash April 2017 – 17.5m Cash Oct 2017 -12.6m Cash April 2018 – 6.45m Cash burn 4/2017-10/2017 4.9m Cash burn 10/2017 – 4/2018 – 6.5m So, despite being EBITDA + for the first 4 months 2018, the cash burn in the 6 months to April 2018 is greater than the 6 months to October 2017. In fact, the cash burn is accelerating. The EBITDA + statement is nothing more than accounting sleight of hand. w1
woozle1
21/6/2018
08:13
Henchard: since IPO -it comes down to how they can monitise the platform and attached services. If they'd excelled here, they could have 10% of that penetration and a firmer business. If they never do, penetration could be 100% and it wouldn't amount to 'enough' for shareholders (as we have so far seen).
manics
21/6/2018
07:31
It has sufficient cash to get through to the next cash call!
woozle1
20/6/2018
23:07
If Tungsten "processes invoices for 67 percent of the FTSE 100 and 76 percent of the Fortune 500" and "last year processed transactions worth over £155bn" what percentage of FTSE 100 and Fortune 500 firms would it have to process invoices for and how many £billions of transactions would it have to process to be cash flow break-even?
henchard
20/6/2018
22:57
Phyllis like you, I read ebitda+ as cashburn is small to 0 Which is good. Otoh rapid expansion costs and they will need money to grow. But no one here has any good ideas? This may be why it has all gone quiet. There is no point in getting rid of RH without a good alternative.
andrewdbl
20/6/2018
17:13
wo0rking cap is adequate - they just said so - and capex going forward is mainly discretionary
phillis
20/6/2018
16:37
Yes it did. You've been hood winked with the following statetment: "Over the first four months of the calendar year 2018, the Company reported profitably on an EBITDA basis for the first time." EBITDA profitable is very different from cash flow positive. If they'd been cashflow positive, they would have said so. EBITDA has a metric has limited meaning because it is before working capital and capex. Most businesses - and this is no exception - require these. w1
woozle1
20/6/2018
16:08
No it isn't It burned no cash from Jan - April
phillis
20/6/2018
15:45
Definition of "adequate". It's burning at £1m per month and it had £6m left at the period end.
woozle1
20/6/2018
15:36
Surely the Company just announced it has adequate working capital?
phillis
20/6/2018
13:30
What ET said is untrue. Orbian process more. Moreover, what's the point of processing all those payments if the company lacks the scale or the cost structure to be profitable and cash generative. Three options here: liquidate, cash call or sale. At the current burn rate the co will be out of cash by October. The only other possibility is some form of mezzanine financing that will involve debt and equity but less dilution. In the short term these options are negative to neutral for shareholders. Maybe there are some sunny uplands for this company but I'm not convinced. GLA w1
woozle1
20/6/2018
13:18
Whatever the ins and outs of the past, it IS the past it's obvious massive errors were made. What matters now is the FUTURE can ANYONE deliver a spark to ignite the engines of decent profitability?I don't think we are heading down the path of much more than a very slow and steady situation with the current incumbents?I think I remember Edi Truell saying the only organisations who process more transactions than Tungsten are VISA and MASTERCARD?? Just think about that fact for a moment then think about the absolutely dire revenue we make from that opportunity it's actually a damned disgrace!! The question shouldn't be how can we make a fortune but how the hell are we NOT making a fortune? The answer is management, both Edi Truell and Rick Hurwitz have not managed to make much of an impact in turning the unique advantages of this business into cold hard cash lets give another group of people a chance. Third time lucky ?
dollarzpounds
20/6/2018
12:02
for ejcj ¨Tungsten added eight new accounts payable automation customers in FY18. This included the addition of two new multinational customers, one in the media industry and Conagra Brands in the packaged food industry, to which Tungsten will provide its range of accounts payable automation services internationally. Due to signing these two sales towards the end of the financial year, a significant proportion of the revenue will be recognised in FY19, rather than in FY18.
phillis
20/6/2018
09:30
@htoast I fully agree he had a big picture vision and RH bought into it. The trouble was he never delivered on it and they've wasted millions.
ejcj
20/6/2018
08:56
My memory is bad. Beyond 'standardise platform' and 'implement salesforce' please remind me what the stategy that was so good mr profit had to go was.
andrewdbl
19/6/2018
23:48
"he continually kept on a massively under performing CTO, burning cash on contractors who have produced no results" What a load of tosh, you have no idea what you’re talking about! Previous CTO is top calibre, acutely smart with big picture vision and knew exactly what Tungsten needed to succeed; certainly more than just a CTO. He just so happened to continually embarrass RH it was clear RH was out of his depth and didn’t appreciate his ego being bruised.
htoast
19/6/2018
10:36
Right . Let's get on with it then.
dollarzpounds
19/6/2018
00:04
I'm sorry but RH has not performed well. Yes, ET created a mess but RH was brought in by ET in the first place, was employed in a sales role for a year before taking the reigns so new for well what he was taking on. E-invoicing, not financing is the lifeblood and future of this business and he hasn't increased the customer base. There is no growth and that is the biggest issue. Yes, he's reduced costs but he's kind of had to, along with increasing prices. From a management perspective he continually kept on a massively under performing CTO, burning cash on contractors who have produced no results. His own remuneration was increased as the experienced staff decreased. I don't see how it's in a better state than when he took over. It's entirely understandable why Odey is pushing for this move. It has to happen to drive growth otherwise the business is doomed.
ejcj
18/6/2018
15:35
silence is deafening. are we going to get an egm or not? i hope they simply see the writing on the wall and walk. i am sure they will get severance pay which seems to be part the course these days.
edwardt
17/6/2018
13:45
I also confess to adding in a small way at 0.535 last week (*) RH is indeed no genius, but neither has he dropped the ball. Given the hand he had I am not sure it could have been much better played. Left to himself, with an effective CTO, he will deliver a nicely profitable business by slowly growing the client base and controlling costs. Admittedly it will never be on the same scale as the original vision. Extending the metaphor, indeed, the Truells are able to change the game, but did not the first time round. I would ask the great minds here ( et, ej, $£, bs, cd, manics etc) Given the core business is invoice processing (income grows with client base + a bit for real GDP growth and cost base is at point of installation, thereafter small and fairly static) ... what would you do to change the game ? (*) current rationale being (a) if taken private, it will be much more than that (b) the client list - the suppliers and buyers has value - from $40-140 per user if this was a social network (c) hope cashburn FY 19 will -> 0.
andrewdbl
17/6/2018
08:45
Having read the views of my erstwhile partners in the crime of being daft enough to buy shares in this company over the last few days and looking at the situation as a whole I would be in favour of trying a change now. We are going nowhere slowly under the current management team, hats off for stabilising a horrendous situation when they took over but that's pretty much all they seem capable of ? They have also treated us PI's rather shabbily they have not communicated well at all. It's kinda 'Monte Carlo or bust' with this thing for me now - just get on with it PLEASE!
dollarzpounds
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