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  • PLX - Plexure

    Lolololololol
    ​​​​​

  • #2
    As I stated on NBR comments for the latest article on PLX:

    Another techie way behind the eight-ball with slowing revenue and "going profitable", all while the CEO gets paid a massive salary PLUS the expenses of living in California. Do shareholders really want to pay for his lifestyle, or the growth of the company? Hmmmm...

    Interesting to note the much toted relationship with Microsoft is coming to an end and that costs from them are jumping 22% via the Azure Platform - I suspect Microsoft are about to extract their pound of flesh via rising costs every year from here on out!


    What is his enormous salary again? I remember it being somewhat larger than a few Xero execs put together a year or two back...

    That cashburn rate isn't going to be solved by little $700K cap raises, that's for sure!

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    • #3
      One would have to punch themselves in the face for hoovering up these shares at 40, 50 and 60 cents - especially if one were to have "baa'd" about it like it was some kind of cheap deal.

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      • #4
        Saudi deal all stitched up.

        http://i.stuff.co.nz/business/indust...a-saudi-arabia

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        • #5
          They were always very poorly capitalized. You simply can't do very much with $5m if you are planning to be an international SaaS company. And because they never raised enough, they couldn't deliver enough results before their cash started to run out, meaning they spooked investors and the next raise would have to be cheaper.

          its a shame, because I always though they had quite cool technology - a real product.

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          • #6
            A person named Baa_Baa once told me that this stock was really awesome.

            I love this forum.

            Baa_Baa was potentially incorrect about this stock

            NTL now valued at 2.5x PLX and has as much cash as PLX has MCAP - consider this Baa_Baa.
            Last edited by fatportfolio; 13-07-17, 12:27 PM. Reason: Cleaned up a little by Fatportfolio

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            • #7
              I see this company raised $500k for further growth. That's about a tenth of what they need to really work up some decent recurring revenue.

              https://www.nzx.com/companies/PLX/announcements/304304

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              • #8
                It was announced this morning that their CEO, Scott Bradley, is standing down as CEO, but remaining as board member.

                https://nzx.com/companies/PLX/announcements/306803

                I note that they also claim to be cashflow positive from September, though they don't seem to be able to get price sensitive information right.

                https://nzx.com/companies/PLX/announcements/306799

                (They have erroneously referred to 30 September 2017 the second time around when they meant 2016 for that release above).

                I see few reasons to invest in a high tech company that doesn't have impressive growth. My view is that 52% is not that impressive when considering the very low revenue baseline they are coming from.

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                • #9
                  Originally posted by Sharewatcher View Post
                  It was announced this morning that their CEO, Scott Bradley, is standing down as CEO, but remaining as board member.

                  https://nzx.com/companies/PLX/announcements/306803

                  I note that they also claim to be cashflow positive from September, though they don't seem to be able to get price sensitive information right.

                  https://nzx.com/companies/PLX/announcements/306799

                  (They have erroneously referred to 30 September 2017 the second time around when they meant 2016 for that release above).

                  I see few reasons to invest in a high tech company that doesn't have impressive growth. My view is that 52% is not that impressive when considering the very low revenue baseline they are coming from.
                  Whatever happened to $10M ACMR? Ouch, massive miss, and I can't recall them ever informing the market.

                  Wonder how much of that reduced loss was due to cutting out Mr Bradley's penthouse suite in San Francisco and the Porsche lease?

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                  • #10
                    Originally posted by Moosie View Post

                    Whatever happened to $10M ACMR? Ouch, massive miss, and I can't recall them ever informing the market.

                    Wonder how much of that reduced loss was due to cutting out Mr Bradley's penthouse suite in San Francisco and the Porsche lease?
                    $7m of declared operating revenue for 2017 is not the same as $7m of ACMR. But the fact they don't mention ACMR at all is cause for concern. It's a key metric for SaaS companies.

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                    • #11
                      Turning around? Truth or fiction?
                      http://www.scoop.co.nz/stories/BU180...st-cutting.htm
                      Don't drink and buy shares in a downtrend, you bloody idiot!

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                      • #12
                        Seems to be all the rage these days to be a profitable SaaS business. Funny that.

                        Bradley gone is good riddance - was pulling a higher salary than Drury for a while with 2000% less revenue and staff!

                        I'm wary of this new found fad of stripping out all costs to become profitable as it always takes from something elsd - revenue growth, good engineers, marketing funding etc.

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                        • #13
                          Originally posted by Moosie View Post
                          ......I'm wary of this new found fad of stripping out all costs to become profitable as it always takes from something elsd - revenue growth, good engineers, marketing funding etc.
                          PLX gets little mention in this forum other than this last comment from almost a year ago, but todays news re McDonalds 9% buy-in has got to be good news for holders.

                          30% SP gain in one day on the news and more to come IMO. TA looking favourable trending nicely upwards.

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                          • #14
                            Originally posted by Stranger View Post

                            PLX gets little mention in this forum other than this last comment from almost a year ago, but todays news re McDonalds 9% buy-in has got to be good news for holders.

                            30% SP gain in one day on the news and more to come IMO. TA looking favourable trending nicely upwards.
                            One has to question if an extra POTENTIAL (ie they ain't earning it yet!) $1M in revenue per annum and not being able to sign on other huge QSR's is actually worth an extra $17M in market capitalisation in one day?

                            McDonald's also now has a blocking stake. No one is going to buy this pupper out now, and if McDonald's does it will more that likely not be at astronomical SaaS prices the market is accustomed to, as they now have them by the short and curlies!

                            2. Pricing has changed from the original store based pricing to include some upside from usage along with new pricing for new features. Although the actual increase from the new pricing will depend on usage and uptake, PLX estimates this at over $NZD1m a year in additional revenue.

                            3. PLX has agreed not to provide similar services to a defined list of competitors in the "quick service restaurant" industry for so long as the aggregate net revenue received by PLX meets a minimum threshold in any trailing 12-month period. PLX is not otherwise restricted from providing its services globally.

                            Hmmmmm. Looks like an overreaction in a market with no new IPOs for years now, with hot money and nowhere else to go chasing thinly traded tech stocks.

                            In addition, the convertible note (converted literally yesterday) may be an overhang here. At 41.5 cents that is $5.2 million worth of shares they have with a initial cost of $1.6 million. Convertible note deals are never a good sign for a company, and the share price may suffer because of this.

                            12.5 million shares issued and "only" 1.4 million shares turnover (2nd highest day in 52 weeks), so anyone late to the party will need to be thinking about them unloading at these levels given their 245% gain in profit.

                            One can't help but be suspecting of these guys with the recent insider trading case hitting the news (https://www.reseller.co.nz/article/6...lexure-shares/) and the fact that the convertible note was converted literally 24 hours before this announcement as well...
                            Last edited by Moosie; 02-04-19, 06:57 PM.

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                            • #15
                              NZ Herald's take on the McDonalds buy-in. https://www.nzherald.co.nz/business/...ectid=12218458

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                              HLG

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