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They needed to do something to turn the business around and it seems like they’ve made some massive changes.
Also no placing needed:
"This has been a difficult year for Digital Media with the Company having losses across all verticals, however after a significant re-structuring, we are confident that Gfinity will flourish without the requirement to raise further working capital”
This could go boom todays. It’s been dead for over a year
If you believe their EBIT statement then it’s a wonderful update. If you are dubious then it is a depressing RNS. Guess you all have to decide whether you trust their forecasts based on previous….
Where did all the placing money go. Down to 180k
Expecting a big drop on open. I still haven’t digested that RNS
Eh? Did you even read the RNS. They literally said they have approximately half a million and are going to show a positive EBITDA and are NOT going to raise.
So clear that derampers want this to drop. Read the RNS buddy. This has been on its knees for ages. It’s finally time for this to go North
They rule out a placing.
Ebitda positive in sight.
Should see a nice rise today with 0.15 warrants exercised to bring cash in.
I don’t understand how this can go north? They have sold off the arena, closed the esports division and given away the “groundbreaking” athlos for a quid. They now only operate in the digital media space with AI making content for them? There are 10,000 agencies globally that all know this realm better than them?
I think he’s joking
Let’s see what happens on open boys. Plenty more research everywhere.
Positive EBIT
No need to raise
30% in Athlos now for free
Cash burn down 5 fold
Focussed on AI offering that’s producing profits
Again let’s see where we go on open.
Why would you trust a single word they say? They've either been wrong or worse misled shareholder with almost every update they've put out.
There's not much left here, a few wordpress sites with chatgpt writing conent and the crappy stockinformer site, it'll be lights out by the end of the year imo.
All this news was priced in all year around. Now they post something positive and you want to try and say it’s going to pot
Hahha. We all thought this was done and dusted. That RNS says otherwise.
Look at everyone trying to buy in
Warrants at 15 boys
I work in publishing, the mention of using AI to write some content makes me naturally very uncomfortable, but seeing it already had a positive impact in May is nonetheless interesting.
This may never deliver anything like what we'd hoped but assuming they can be trusted at their word... To outrun the now slimmed cash burn then it might yet still deliver at least something.
My holding is 80% down, but overall feeling on today's update is neutral, clearly drastic action was needed and it has been taken. I shall wait for this strategy update for more detail. If it survives this blow to sentiment then it may just turn slowly from here if revenue from digital media is profitable.
Gdm if profitable has considerable value.
Expecting board changes
Gfinity (AIM: GFIN), a world-leading esports solutions provider today announces that it is closing down its Esports division
Retained earning losses of £53m at HI
blimey... a long and winding road to..... nowhere
Well done guys ....
Scandalous by the board of directors after the RNS 31/03!
GL.
Anyone else sniff a management buy out here?
Exactly. On 31st March they reported revenue up by 106% over the last 6 months. i.e. H1 Revenue of £4.1m (H1 FY22: £3.3m), up 26% year on year and up 106% on the previous six-months. Plus GFIN guided the market that revenue at the esports business was up 70% year on year to £2.5m (H1 FY22: £1.5m). Plus Robert Keith (Eidos / Lara Croft) took a 12.02% holding in GFIN recently. He is a serious investor and one to watch having sold his business, Fast Search & Transfer, to Microsoft for $1.2bn, I wonder if an MBO or bid at a bargain basement price is on the cards / being planned? Something doesn't feel right about the very upbeat guidance dated 31st March and the announcement today, just 2 months later ......
Good luck, Brighty
Brighty,
We need to see what GDM revenue is shaping up at to take a view on an acceptable bid price. 2 x revenue would be a minimum imv