Phorm (UK): Constituent Deletion - Changes in FTSE UK Index Series
13 May 2016
Following the continued suspension for Phorm (UK, constituent), please see details of affected indexes and effective dates below:
Index - FTSE AIM All-Share Index
Effective From Start of Trading - 18 May 2016
So is this little blip the start of the campaign to try and raise the SP before the begging bowl does the rounds
If it is then the dilution required to raise even a few million dollars to cover "general working capital" for another month or two is eye watering, not even mentioning the negative balance calculated by felixthecat based on phorm's own figures
The next fund raising looks likely to push the number of shares issued well over the 1 billion mark
There has been a lack of information on the progress of the new board to reduce cash burn, or it's ability to generate revenue both of which have been the biggest issues after the issues like use off DPI and compliance with local regulations (Brazil,Turkey,Romania anyone?)
the first paragraph of the article says "Bulletproof hosting Autonomous Systems (ASes)malicious AS's fully dedicated to supporting cybercrime which apparently provide freedom and resources for a cyber-criminal to operate."
phorm are included in the table of 41 "malicious AS's they collected from blogs" (see page 8, figure 6) under the table it says " Overall, we collected forty one known malicious ASes. We provide our list of ASes in Figure 6."
They even gave Phorms correct AS number - AS48214, this AS network contains a number of phorms wbsites / domains
a cut down list below, looks like they could do with some housekeeping
so in the last week the mid has dropped steadilly from 10.75 to 9.75 about 9% drop
still no sign of new cash or a share issue
time is running short for phorm to raise cash or provide good news in the form of impressive revenue to try and get interest in any possible share issue moving
the fact there has been no revenue figures and reportedly on another forum (though not proved and no evidence provided to back up the claim) lack of interest in a share issue is interesting, i would assume anyone who would be interest in or offered the option to partake would have to be appraised of certain information relevant information on which to make a decision to partake in a share issue
if and i say IF a share issue has been offered around and no uptake has occurred it could be seen as an indication of how bad the prospects are for phorm and its finances
but it is a long time after the predicted running out of cash based on the last cash burn and cash in the bank from phorm
there are a number of possible answers
1:- phorm have generated more revenue than anticipated (if this was the case we would have heard about it by rns so i don't think it likely)
2:- cash burn has been reduced and cash has lasted longer than expected (possible but again i think unlikely)
3:- some independant injection of cash rather than a share issue (unlikely not sure if possible without some form of notification)
4:- the cash call / share issue has not yet taken place (possible but no evidence to confirm or deny)
5:- the cash call / share issue has been attempted and failed (possible but no evidence to confirm or deny)
so most likey are the last two but no evidence to support either,
as normal only time will tell. we have the rampers on the other forum who would have us believe option 4 is correct but they have a history of mis-information
we also have a new poster on the same thread on the other forum who has made the unsubstantiated claims that phorm have attempted and failed to raise cash, they have no history for me to judge them for or against. the only information presented that could be verified has been that which is available to anyone with level 2 access
so apart from the current SP slide there is no real evidence regarding a share issue but it is likely cash is at a criticle level based on the last figures provided by phorm, and up to now those predicitions based on phorms figures appear to have been accurate to a week or so
so what information do we have
still not granted patents,
still not enough revenue in a year to cover a single months cash burn
even the optimistic predictions of mr bigger show phorm will still need regular cash transfusions to keep it alive for 18-24 months before it "MAY" be possible to support its self
but how much more cash is that going to take? £40m-£50m and that is a ball park figure based on current cash burn rates and a linear increase in revenue as per mr biggers predicitions / forecast
bottom line is it more humane to just put phorm out of its misery and save more investor cash from being burned for no reason, they have tried close to double figures of countries and failed in all but the last two but turkey appears to be failing and china seems to be very very slow on coming online
i am not an expert , just a person who experienced phorm while using BT as my isp but has followed this since
DYOR and do it carefully before investing in this company as they have burned through over $350m with nothing to show for it that i can see
if you are considering buying in have a look at the links below And you want some backgroud / historical information to base a decision on as to whether to invest
(if you don't trust links goto wikipedia and look up phorm or kent ertugrul using the search)
Look back at all the reports even when phorm was called 121media it has never made a profit, fsecure classified its apropos product as a root kit, shortly after 121media became phorm, coincidence? Could phorm have been trying to bury the link with apropos rootkit ?
the links below are public records of the CEO's previous businesses and see if there is any history of profit or failure and draw you own conclusions
Begging bowl must be doing the rounds with the level of ramping on other sites
Sp will rise as people try to make out phorm has found a way to become profitable (cough) DYOR
Jam will be promised tomorrow as it has been with uk, Romania, Korea, brazil,Turkey etc but none has ever been delivered in significant quantities and not enough in a year to cover even a quarter of a single months cash burn
Look back at all the full year reports even when phorm was called 121media it has never made a profit, fsecure classified its apropos product as a root kit, shortly after 121media became phorm, coincidence? Could phorm have been trying to bury the link with apropos rootkit ? No one but the CEO would know for sure
You could also look at the public records of the CEO's previous businesses and see if there is any history of profit or failure and draw you own conclusions
search for poor-form-and-a-bigger-fool-death-postponed
seems he cant read, he says
"The interims showed that net current assets at June 30th were $2.6 million. The monthly cashburn in H1 was $2.6 million. Do your maths. But last week the company must have been trading pretty close to insolvent.
phorms interim report says
"During the first 6 months of the year, average monthly cash burn excluding financing activity was $3.6m (2013: $2.6m)"
but still more accurate than mr biggers effort at thisisbigger .com /2014 /08/22/ phorm-investment-thesis/
quotes many thing as "source company" but does not seem to have done any independant research
who are these " commercially-driven world-wide smear campaign (Source: Company) A professional group of anti-Phorm campaigners, posing as grass-roots campaigners"
also "Phorm obtained a Court order against certain protesters", two problems there, it was the CEO not the company that obatained an interim court order? and it was against a single person (note the singular)
there are a number of other possible errors as well
there is one question that needs asking
if these "grass roots" people caused problems for phorm with regulators etc why? surely these regulators did their own investigations after being informed of issues by these campaigners?, if the issues were groundless why did phorm have problems with these regulators etc? were not operating in a fully compliant manner ? or was there other issues
what another site seems to think of phorms finances?
"Phorm Tick Tock Tick Tock is this week of D-Day? That is D for Death"
search for phorm-tick-tock-tick-tock-is-this-week-of-d-day-that-is-d-for-death to get the full artile and to see what another site thinks
a single paragraph is below
"The current presentation to mugs in the City who are thought stupid enough to back this perennial liar talks of the Russian opportunity. That makes it clear that China and Turkey are like every other place Phorm has operated in before not going so well. Hence Id predict revenues since March 31st of not a lot. I really do mean sod all."
Bookmark the links if you wish to 'pass the LINK/s on'.... or read later?
BE A PART OF IT
# The big problem with shorting is that THEY (the shorters) WOULD most likely lose most of their money IF they just 'bet' on the price going down without trying to 'help' it down?
So, there is the 'catch 22' scenario. No one would know of an RNS to be released that will contain BAD NEWS, if they did and then 'shorted' the stock, then they are guilty of 'insider trading'.
The only sure way to short a stock and WIN is to spread dis-information to defame the company with help from other posters that are in concert with them. To ENSURE that they don't lose the biggest part of their 'short', ironically, then, they must deramp with (seemingly) believable posts.
When the pro's do it, they simply get the media or well known 'crooked' tipsters, analysts or brokers to do it for them. (say no more). .They're all in cahoots with each other!
The campaign against shorting is for the benefit of the 'cheated' investors that cannot control their investments due to the dirty tricks played out by co-ordinated deramping in order to tank the sp to abnormally low levels.
When the campaign is complete, the results will be reviewed by Govt legislators re- further action! The branch of the FSA ie FCA will be asked by Davide Serra to conduct an investigation into short selling practices, with the view to either an outright ban on short selling or at the very least to be better and more vigorously regulated.
The HMGovt epetition is a regulated site with legal authority that will NOT under any circumstances allow any auspicious individuals to prevent 'others' from casting their free votes. Discussions of which are freely entered into with individual viewpoints.
China launches campaign against online piracy
BEIJING, June 13 -- The Chinese government has launched a half-year campaign against rampant online piracy, targeting websites which offer unauthorized content from traditional media.
"The move aims to promote cooperation between online and traditional media institutions and better protect copyright by standardizing the use of copyright owners' content online," said a statement issued by the departments on Thursday.
now go back to brazil
i believe there was an issue with phorm agregating and using some RSS feeds that had T's and C's about private use only and against commercial use
now go back to the UK
there was a lot of issues with the possibility of phorms webwise breaking copyright when it intercepted and processed the website traffic in flight to the requesting end user, as the T's and C's of many website specifically prohibit the ability to allow the end user the ability to transfer there right of use to a third party (eg phorm), as well as many prohibit the use of content for commercial gain (eg scraping content to target advertising for a (cough) profit)
so are these old ghosts going to come back and haunt phorm again? if they do and cause delays yet again it may well be the end
* OFF TOPIC but important that all AIM investors understand the pitfalls of investing in stocks that are being shorted down to rock-bottom levels? So you think that is 'cute', now you can buy at the lowest sp for months.........you've gotta be kidding...read on:-
UPdate...epitition (closes 24th September 2014, so still plenty of time to get those votes in)
A lot of irate investors ... are voting for this campaign...?
# Thanks to all those that have supported this HMGovt epetition !
~ *3,893 voted so far ~(That's a lot of irate investors?)
~~~~AND THEY CAN'T ALL BE WRONG ?
*How the big players transfers YOUR money into THEIR money !
Notice how Phorm appears in December/Aralik and then drops off the board. If we are to believe Kent/Andy and what was supposedly said to Simon Cawkwell that caused him to supposedly take a punt on Phorm then Phorm is apparently going great guns in Turkey and now challenging Google...
Unfortunately the numbers as supplied by the IAB do not back that one up. It would be interesting to know what evidence, if any, was provided by Phorm to Simon and whether it was in the shape of a single isolated set of figures used to 'pull the wool'.
[quote]THE best possible birthday gift for Brazilian and global web users is how Tim Berners-Lee, the British inventor of the world wide web, which turned 25 this month, described Brazils internet bill of rights in an open letter on March 24th. The next day legislators in the lower house of Congress duly approved it.
The sweeping bill, which now goes to the Senate, is pretty much one of a kind, says Ronaldo Lemos, a lawyer and academic involved in creating the original proposal in 2009. It enshrines the principle of net neutrality, which holds that network operators must treat all traffic equally. It also ensures that 100m Brazilian internet users enjoy online privacy (by barring providers from rummaging through their data) and freedom of expression (a court order is required to force the removal of contentious content).[/quote]
why do we see this sort of legislation appearing after phorm set up in a country? could it be the outcry about invasion of privacy by phorms system? and the use of DPI for advertising / stalking users?
Memorandum of Understanding with China Telecom
RNS Number : 8775B
Phorm Corporation Limited
10 March 2014
10 March 2014
Phorm Corporation Limited
("Phorm" or the "Company")
Memorandum of Understanding signed with China Telecom
Phorm (AIM: PHRM), a leading internet personalisation technology company, is pleased to announce that it has signed a Memorandum of Understanding ("MoU") with China Telecom Corporation Limited ("China Telecom") and certain of its associated group entities to become its preferred strategic partner in the field of 'Big Data' technology and advertising operations.
· Memorandum of Understanding is valid for three years
· Establishes Phorm as China Telecom's strategic partner for 'Big Data' and advertising
· Agreement covers a wide-range of proposed initiatives
· Reinforces Phorm's continued progress in China
Phorm has signed a three year MoU with China Telecom, the world's largest wireline telecommunications, code division multiple access (CDMA) mobile network and broadband Internet services provider.
This agreement further reinforces the progress that the Company has made since the launch of its commercial operations with three Internet Service Providers ("ISPs") in the People's Republic of China as announced on 27 January 2014. Phorm is continuing to build its commercial operations and expects to launch with further ISPs in China later this year. The China Telecom group has operations in 31 Chinese provinces and over 100 million broadband customers.
Phorm is delighted to have been selected to become China Telecom's preferred strategic partner, not only for advertising, but also for its 'Big Data' initiatives and looks forward to continuing to work closely with China Telecom on a range of innovative products and services.
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