Now we know why the share price has been managed down. 1.39m of shares this morning is the end of the Livingbridge stake, I think. And to get the placing away of course, assuming the vote is carried.
Once this has happened it is over to the new management to grow the business. Let's hope they can use shareholder money better than Green and Hopper. Goodness knows they were unbeatable at raising cash and squandering it.
I am optimistic that there is latent value in both divisions. Let's hope so!
Silver Spring is not closely comparable but interesting it is now being taken over.
IoT in control of cities.
UBI will be bought IMHO or at least spin off one part.
IIoT should be big and only just beginning to see adoption and location and smart space control is an important part of the puzzle.
For the first time in the years I have followed this company Ubisense has generated positive cashflow and by my calculation £3m in the first 6 months.
That is quite a change from the past so not sure why the share price has gone down since the trading update.
IMO - as good a time as any to get some exposure to a recovery play that looks well past its worse, is no longer on life support and is on the way to living up to its outstanding technology and products that were never in doubt.
Good news re banking covenant compliance (first time in how long?!), products continue to attract powerful clients, management team in place and incentivised.
Understandably sentiment is turning. Fundamental investors need to see numbers though to make some idea how to value this company. Lack of numbers in updates like this frustrate, as if we are only interested in speculation on the 'story'.
End game still looks the same.
Should have said I think the options will pay off. They have not been given as a massive stretch but as a way to guarantee keeping key personnel for 4 years plus. Might even stick neck out and say I think this will get to £50M market cap sooner than some might expect. Question is what will be the float by then?
£100 market cap gI've the capabilities.
Late 2015 and all 2016 has been the great Reset for UBI.
Would have to agree the buys are very interesting. Re-read the Jan 2016 trading update and they were turning a corner then. It might be about to show through. Kestrel would certainly be aware. The drop was rapid and a rerating might be too. When?
I have followed this fascinating company for sometime, posting in the past.
With Board Representation who will be seeing the monthly numbers at Board Meetings (right?), Kestrel's continuing buying should be a solid signal? Am I wrong to think this?
Just get the feeling from the tone and content of the latest reports that the strong products and services might well be at an inflexion point of turning into profit and positive cashflow.
Very hard to tell though without numbers or confirmation on banking, CEO appointment etc ... hence why Kestrel have somewhat of an advantage with board representation and we are left to 'speculate' rather than 'invest.'
Impossible to know what will happen here. Very promising looking product and easy to see there could be decent demand to know where stuff is in 3D but chaos with the CEO jumping, debt and one fund raise after another on the back of a collapsing share price.
I have re-read all news released over the past 2 years. They've had little clue.
"Chief Executive Officer has executive responsibilities for the Group's strategic development, operations and results." Perhaps the Chief Executive should take responsibility. That's what he's for.
"In response to reduced revenue expectations as the year progressed, we acted swiftly to increase focus on sales effectiveness and adjust our operating cost base to be better aligned to our revenues. These actions, alongside the proven performance enhancements and reduced costs we bring to customers, give us confidence that we can capitalise on growth opportunities whilst maintaining financial prudence."
They haven't been financially prudent and there was no focus on sales effectiveness. If they had been prudent and focussed on sales effectiveness they wouldn't have burnt through so much money over the past 18 months AND STILL had the bank on their back.
Very poor management and execution and the results state who is responsible. "Chief Executive Officer has executive responsibilities for the Group's strategic development, operations and results."
If they really want to signal change for the better there's one place left to look.
Report today. Strange it's not out early. Would have expected it posted first thing.
Will at least get an indication of forward look but probably a rut if the past is an indicator.
Let's hope there are no rewards to management for their failure so far.
Use of the word "solid" is interesting. Perhaps lessons have been learnt.
Good to see and might hep explain the ONZO tie-up too.
Putting this as a STRONG BUY - not because the results are now in but because I think:
1) Lessons have been learnt.
2) Now being run for shareholders more than a grandiose headcount machine.
3) Target markets are future orientated and will grow in relevance.
4) Technical capabilities look impressive.
5) Kestrell know a thing or 2 and look like offering a floor at 35p.
6) Cost reductions have been impressive.
May have to wait a while though. If VW come back this could fly quickly.
Well, Silver Spring have had some relationship to Secure Meters and there is an ONZO tie-in too. So, ONZO have some relationship to EDMI, Silver, Secure and now UBI. Is this pure coincidence because of ONZO's analytics capability or what?
ONZO suggest they will be a UBI s/w user. So, any chance Silver and Secure etc will be too and if so a route into Con Edison via Silver.
I think there could be more to this than meets the eye and if ONZO have any scale and they are to use Ubi s/w why didn't Ubi at least mention it on their website? They look useful to have as a user/collaborator.
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