Wandisco Share Discussion Threads

[scrutable] 06/7/2023 15:59

Why does noone on this board see the positive items in the company's plan?

The new CEO Stephen Kelly ex SAGE and Microfocusm obviously believes that the company is viable, as does CFO Ajoma Maluza from the successful business automating, Blue Prism. They have all put up useful subscriptions - sufficient to cause pain if lost.

There is no sign, nor was there then, BEFORE the fraud began of any craziness in the valuation, and the Revenue from delisting onwards is not likely to collapse.
Surely then the VALUE of the company strengthened by the successful cash call must be AT LEAST equal or more than at that time ie > than £3.00/share.

As I gave said before SHARE PRICE AND VALUE ARE NOT THE SAME and I expect shareholders sick of the whole affair will sell asap at the re-opening. BUT THE PRICE SHOULD BOUNCE STRONGLY THEREAFTER..
GOOD LUCK IN THE SEE-SAW!

[spectoacc] 06/7/2023 07:02

Good spot. No doubt one of the directors will lend them a little for cashflow purposes.

[gdjs100] 06/7/2023 06:57

I am not hugely familiar with the company here but have a passing interest. In their "Exploring Fundraising" RNS they said they had enough cash until mid July.If they can't get the fundraising away until after the GM in late July, does that not cause a problem?I may have missed a further update.

[dr biotech] 05/7/2023 17:11

Since that 220p low about 14 months ago the company has been the victim of fraud, burned through a huge pile of cash and hardly grown sales at all. So I'd say it was worth a lot less than that.

I don't understand your 220 + 50p argument either. Even if it was worth 220p, they have issues 60m or so (roughly doubling the shares in issue) new shares at 50p. So each share would be worth approx (220+50)/2 ie 135p. But despite the cash and commitment of the new management, I don't think they'll ever turn in a worthwhile profit.


SCRUTABLE 5 Jul '23 - 11:40 - 6109 of 6114
0 0 0
Opinions here are are 100% negative. except for mine. Not a good word to say for Wand, but are Accenture really all Fools? And the replacement management?

In previous years before the fraud, the share price low point had twice bottomed out at 330p in Dec 2019 and again in Dec 2020. During the early part of the fraud the share price reached a greater low at 210p

Surely after the coming restart the value must be higher than the value of the additional capital raised and arguably 210p + 50p? The subscription is set extremely low as it has to be - to encourage investors at a rotten time in the market - the worst since 2008 or even earlier.

[owenski] 05/7/2023 14:04

And that is another problem, orders being delayed whilst the prospects of this going under remain.

[spectoacc] 05/7/2023 13:10

Never rains but pours, with WAND.

So 25th July now (maybe), not the day after tomorrow.

@Scrutable - not sure of relevance of Accenture, d'you mean because they've signed an $113k agreement? To say it's chickenfeed is to do a disservice to a 25kg bag of mixed corn.

[cc2014] 05/7/2023 12:39

Hmm. All a bit odd. It's hard to see how the requirement to raise the share capital has been missed.

So, the fundraise is dependent on the audited accounts and the share suspension being lifted and the share suspension being lifted is dependent on the audited accounts.

[cerrito] 05/7/2023 12:23

The failure to understand Jersey law suggests that there are still management weaknesses.
I agree with comments that US30m pre expenses will probably not be enough as we may have to wait till FY25 to get to cash flow break even.
I do get the impression that new management is serious.

[melton john] 05/7/2023 11:58

Fool's gold I'm afraid.

[scrutable] 05/7/2023 11:40

Opinions here are are 100% negative. except for mine. Not a good word to say for Wand, but are Accenture really all Fools? And the replacement management?

In previous years before the fraud, the share price low point had twice bottomed out at 330p in Dec 2019 and again in Dec 2020. During the early part of the fraud the share price reached a greater low at 210p

Surely after the coming restart the value must be higher than the value of the additional capital raised and arguably 210p + 50p? The subscription is set extremely low as it has to be - to encourage investors at a rotten time in the market - the worst since 2008 or even earlier.

Investors are so sick of the whole affair that they will sell at any price - asap after 8.00am immediately on relisting, Friday, possibly bringing the shares down to a discount for only a very short time.

[firestorm911] 04/7/2023 19:32

It would be nice to know if there were derivative short on this before it was suspended for fraud.

If they already conducted fraud, there's no reason they would not continue taking shorts before coming and stating there was a fraud. It's a fraud.


Regards,
F911
RMC

[strange1] 04/7/2023 13:43

New CFO has gone all in on this and invested 0.4% of his salary......

[bones698] 04/7/2023 09:28

Just noticed it's 30m dollars not pounds too . Given the losses which even after the new bod took cover were said to be 2m a month and the fact that was including 9m in revenue they will need a huge uptick in sales or will run out of cash maybe like another 30m in revenue minimum to break even . I don't see them signing 30m in revenue inside a year . Not looking at the actual size of deals ,the last one 130k and the speed they can sign them looks far too slow .

This one looks very sick and likely to fall . Let's see who gets sucked in or wether the traders think it's ripe for a pump and dump

[spectoacc] 04/7/2023 08:52

I wish them luck - doesn't appear to be any profitable business here whatsoever. Even with a giant fraud they weren't making any money.

But arguably it's a "new" business with a new management team and new money. Pity about the legacy failures, but still.

Now, what will they open at on Friday.. Lack of demand for the placing suggests something well south of 50p. They'll then try to bump the price up over the months with repeated contract RNS's (never mentioning prospective profit, only t/o) ready for the next placing.

Has served them well over many years.

[stallone10] 04/7/2023 08:47

100 million market cap

[bookbroker] 04/7/2023 08:39

Is it actually possible to significantly reduce the cost base without digging in to R&D., turnover is hardly much to talk about. A trade sale more likely or increased partnerships.

[cc2014] 04/7/2023 08:25

£450k put in by Kelly. £450k salary plus a whole bunch of excessive bonus's and options.

Aggressively reduce the cost base and take it from there.

I suspect he will do very well.

[bookbroker] 04/7/2023 08:07

Be interesting to see what stance the Welsh Hill Farmer takes!

[bookbroker] 04/7/2023 07:46

A relatively small amount, they are being well-remunerated for it.

[dr biotech] 04/7/2023 07:42

Well the management have put their own money on the line. Good luck to them.

[bookbroker] 04/7/2023 07:41

Those two are just making hay from this, Lever must have been desperate to employ them, and why should they do a better job than the previous bandits. It’s all about the product, and that may be obsolete within five years.

[cc2014] 04/7/2023 07:32

In retrospect it is clear they had the $30m or something close to it lined up sometime ago.

It makes no sense to me. The only people coming out well from this in the long run seem likely to be Kelly and Maluza

It sure will be interesting on Friday.

[owenski] 04/7/2023 07:31

They only managed to mug insti's for 13m and looks like management had to stump up the rest which is far more than the original intention.

Sunk cost for the insti's, lose the lot or put some more in.

Mind you, the management are at least incentivised to make this work, will be interesting to see what they can achieve.

[spectoacc] 04/7/2023 07:17

They got the full $30m, think you're reading the split:

"A total of 47,528,517 new Ordinary Shares will, therefore, be issued by the Company pursuant to the Fundraise (the "New Ordinary Shares"), raising gross proceeds of approximately $30 million"

Roll on Friday's relisting. Surely going to be some non-participating funds keen to sell out.