coldascheese
06 May 2016
Omnifone goes bust-what effect to 7DIG Omnifone, the UK-based B2B digital music service provider which works with Guvera, Pono and others, has fallen into administration.The news comes just two months after naming a new Chairman, which, according to the company, represented a “transition in business strategy.”Doug Imrie’s appointment as Omnifone CEO in March was supposed to see ‘the development of unique, off-the-shelf B2B music products, to cater for new industry demands’.At the time, Omnifone Ltd’s annual accounts for 2015 were more than a month overdue at the UK’s Companies House, and now we know why.Its last available accounts for FY 2014 show turnover of £38.5m with a post-tax loss of £6.9m – widened on FY 2013’s net loss of £6.1m.Omnifone rival 7digital has danced on Omnifone’s grave issued a statement following the news.“We are sorry to see a respected competitor get into difficulties. Doing the heavy lifting to power digital music services requires scalable technology, fierce financial planning and a strong relationship with rights holders. It is a very tough space and none of these things can falter if you expect to succeed,” it reads.However, the folks at 7digital are charging on, and sound keen to make clear they’re not headed for a similar fate.The statement continues: “As music streaming adoption continues to grow, we continue to see a healthy pipeline of new businesses that want to enter the space.“There remains a growing demand for the back end provision of rights, technology and industry intelligence to foster growth in the digital music business both in developed and new markets but we are under no illusions that this is an easy task.BUT-someones bad news can often be another's good news-in this case less competition for 7DiG and a great possibility of picking up some of their business-lets see.
coldascheese
05 May 2016
Re: WILL I AM and 7DIG -good news IMHO, musical.ly app deal is the exciting part of the news today, musical.ly is currently huge and looks like we've come in to get them legal with licensing...from advfn[link] interesting that we get an RNS for this one new contract, not what usually happens with 7DIG, who tend to cluster them.Personally don't expect this particular will.i.am device will be a hit, but great that we have long-standing relationship with him - and now gone commercial - one of his future wearables might just make the big time. He's recently been in the press again show-casing a jacket which incorporates his AI technology and streaming music.
coldascheese
05 May 2016
WILL I AM and 7DIG -good news Listen to this video of the CEO of 7DIG about how big they want to be and make your own mind up about this share and the future.[link]
arborman
28 Apr 2016
Re: Todays RNS and price drop I get your point about a fund raising, but if they expect to be in positive cash by the year end their demands for cash will be decreasing as the year progresses and could quite easily secure a short term bank loan instead ofma placing. Placings tend to happen when a company needs a lot of cash for a longer period and in this case i think a short term bank load would be the way to go.I might be wrong, time will tellStill a strong BUY from me
Chip_Scashtin
28 Apr 2016
Re: Todays RNS and price drop I imagine there is fear of fund raising, and perhaps concern it wasn't mentioned. A cursory skip through the results shows £3m operating loss and current assets of £1.6, down from £5m plus. I agree things seem to be going well, but just holding for now. I mean for cash flow positive to come out of this situation would be amazing."At 31 December 2015, the Group had a cash balance of £1.7m (2014: £5.3m), and overall cash outflow of £3.7m (2014: inflow £4.0m)." Elsewhere in the results "the group made a loss for the period of £7.9m". So perhaps there might be a need for 'working capital' while the tanker turns round.
arborman
28 Apr 2016
Todays RNS and price drop Very suprised by the sp drop today after the RNS said 7DIG are on track to be profitable by the end of the year, strange, so i topped up and got my average down to 6.77pHAPPY DAYGLA
coldascheese
08 Apr 2016
Re: 7DIG to get to analysts 38p? Finncap reiterated their 38 p price target - "We expect the indicated target price relative to the FT All Share Index to be achieved within 12 months of the date of this publication.
coldascheese
31 Mar 2016
7DIG to get to analysts 38p? See this video and then you will understand-Simon Cole says at the end how big he expects the company to be in a couple of years-and that is BIG![link]
Maverick
31 Mar 2016
Imagination That's good news.I also saw a buyer had to pay 9.08p yesterday too so if you want over £5k theres a premium.
coldascheese
31 Mar 2016
Imagination shares Looks like the Imagination shareholding finally sold late yesterday. If this i so the overhang holding back the share price is finally cleared and price should get back to realistic levels.
coldascheese
30 Mar 2016
Results Loss making as expected but moving into profit and doesn't expect the need to raise cash.Prospects looking very good-I like this bit--"Our pipeline is strong, with a healthy number of current customers looking to expand their activities and, as of the year end, discussions were underway with OVER 60 NEW PROSPECTS across a range of services and geographies.Now all that is needed is for the remaining Imagination shares to be placed and then back we can go to 15p for starters..
financiallychallenged
30 Mar 2016
results look great! [link]
Maverick
30 Mar 2016
Re: RNS's Looks great RNS
arborman
30 Mar 2016
RNS's Not showing up on iii yet but available to read here...[link]
coldascheese
29 Mar 2016
Results Tomorrow Results to morrow and shares will be re-rated in my view.Share price dropped 50% on shares being dumped by Imagination however things are going very well here and Co expected to be in profit later in year.Once they get to break even profits will accelerate rapidly as margins are very high-could also be more news.A definite BUY for those not in yet.
