GEO - GeoOP - Work Management Software

[Grunter]

http://www.nbr.co.nz/article/media-barred-geoop-meeting-cg-188581

Bad bad sign.

A bad sign because the media are there to hound Mark Weldon for his resignation from Mediaworks, and aren't interested at all in reporting on GeoOp?

[Balance]

A bad sign because the media are there to hound Mark Weldon for his resignation from Mediaworks, and aren't interested at all in reporting on GeoOp?

The NBR will not do that - the journo will get fired!

The other media reporters were waiting outside to 'interview' him and after actively courting the media in the past, he is now avoiding them like a cat turned mouse!

Sad bad state of affairs for NZX, MediaWorks and GeoP.

[mushroom]

Did anyone go to the meeting? How much much BS was feed?

[macduffy]

I don't normally pay much attention to tech companies - well outside my area of competence these days - but couldn't help noticing GeoOP mentioned in a recent AFR article concerning a prominent Aust - I think - private equity operator who has had considerable success in turning around the fortunes of certain high tech companies. According to this article GEO is one of his current projects for resuscitation and on-selling.

This is probably old news, but new to me so would appreciate clarification, if only out of curiosity!

[Hectorplains]

and it's now listing on the ASX.


Funny! Just like them moving to the main board here?

[blackcap]

one-for-three rights issue

Well they had to so something. A quick glance at their accounts would show that they could not operate much longer without an injection of cash. Look at current assets - current liabilities. Does not look good.

[smz]

What's happening here?, worth a punt?

[RupertBear]

What's happening here?, worth a punt?

Its been a dog for me so I wouldnt touch it but who would know if its worth a punt??:confused:

[JAX]

They have a revenue of a couple of million - which is cottage industry size - and it has taken years to get to that, churned through piles of cash , shareprice that has dropped from like $4 to less than 20c with the 52week low and high only 2c apart so pretty much stuck there- huge turnover in staff and management with a lot of the original guys cashed out and long gone - they appear to have little cash and still burning through it with the need for more very soon pretty obvious - but most of all the product is a bit of a me to type thing, not particularly innovative in any way - with middle of the road customer reviews and a healthy churn of customers each year and dozens of competitors both locally and global sized to contend with.

But hey, people also buy lotto tickets and occasionally they win big and the ROI is in the millions of percent - of course the vast majority just lose everything apart from some worthless bit of paper. So as long as you know what you buying you could be the one ;).

[smz]

Thanks for this. I'll steer clear.

Cheers,

[Survfer]

Wise move!

Adding to JAX's post above they've burnt their way through more than $15 million in investors' money while missing all their IPO forecasts by a country mile => they've achieved about half the projected customer numbers and a third the projected average revenue per customer which explains the lack of revenue.

Early last year they purchased InterfaceIT based in Melbourne, majority owned by GeoOp's major shareholder so it was an insider deal, adding $9 million in debt plus earn outs. The independent adviser's report was based on IIT's customer numbers increasing from just over 2,000 to over 2,500 in the FY ending 30 June 16, based on US growth, even though the core Oz customer base was collapsing suggesting strongly a failed business model and serious customer churn. Little surprise when they reported at FY16 Y/E that IIT's customer numbers had fallen for a bit over 1,300 due to the loss of US customers. How the customer forecast could be so wrong in little over a quarter beggars belief.

The only thing they have been good at is spruiking failure as success via their market announcements, the NZX is asleep at the wheel when it comes to policing continuous material disclosure for the smaller companies. So is Callaghan Innovation who gave them a grant ($1.3 million?) for developing software which to quote JAX's post is "not particularly innovative in any way".

[mushroom]

Can someone tell me what is going on here?!

https://www.nzx.com/companies/GEO/announcements/297729

Ryder bailing 50% of their shares and 5% overall or an I reading this wrong?

Is this mean the end is finally nigh?

[mushroom]

Anyone have any opinions the Preliminary Half Year Results?

[JAX]

Anyone have any opinions the Preliminary Half Year Results?

None that are positive, 2.1m in revenue - 2m Loss - for 6 months - with 1.6m of cash in the bank left.

They are claiming 100% growth - but almost all of that is from very strange expensive acquisition which appears to not done anything for the bottom line as profit has gone backwards. Most troubling - the core product had growth of 198k ! in 6 months ! which is peanuts in real terms - and hardly much growth for a tech type startup in percentage terms.

Its hard to believe this company is listed. But that looks like it could change in the future if they keep going as currently they are.

[RupertBear]

Have to say I wonder about my sanity having invested in this dog when it was over $2.00. Even worse I still own them! Another Wynyard I fear :(

[couta1]

Have to say I wonder about my sanity having invested in this dog when it was over $2.00. Even worse I still own them! Another Wynyard I fear :( RB, many of us were sucked into this type of company a few years ago, during the hype period. The best thing you could do is to kick this dog out of your boarding kennel for good. PS- You could even shoot it on the way out to make sure it's dead. Disc-Previous holder of mutts like Sli/SNK/IQE and a couple of others that I won't mention in case I offend some.

[RupertBear]

Thanks Couta I have a few muts that need shooting! My biggest mistake was listening to a financial man who told me to buy shares and hold them and never sell them when they go down. Might be fine for the FPH and RYMs of the world but not the WYN, GEO and SNKs. Lesson learned but a bit of blood was shed in the process, thankfully most wounds heal.

[Bilbo]

RB, many of us were sucked into this type of company a few years ago, during the hype period. The best thing you could do is to kick this dog out of your boarding kennel for good. PS- You could even shoot it on the way out to make sure it's dead. Disc-Previous holder of mutts like Sli/SNK/IQE and a couple of others that I won't mention in case I offend some.

I can sympathise with you couta1 and RupertBear. Got sucked in myself, and finally bailed yesterday at 16c. Had profited from the run up as bought at $1 and sold at $2.50 but then bought back in at $1.50. Silly mistake.

Have held the same mutts as you but managed to profit from SNK and SEA. Sitting on big % loss on IQE and SLI. Not selling IQE at current price as most would go to brokerage, and I still hold out high hopes for SLI. At least SLI have good revenue and have been in business for a long time. Just hoping the old dog can learn some new tricks (i.e. how to make a profit) and return to revenue growth.

Anyway, I hope I am now a better investor as a result.

[RupertBear]

I can sympathise with you couta1 and RupertBear. Got sucked in myself, and finally bailed yesterday at 16c. Had profited from the run up as bought at $1 and sold at $2.50 but then bought back in at $1.50. Silly mistake.

Have held the same mutts as you but managed to profit from SNK and SEA. Sitting on big % loss on IQE and SLI. Not selling IQE at current price as most would go to brokerage, and I still hold out high hopes for SLI. At least SLI have good revenue and have been in business for a long time. Just hoping the old dog can learn some new tricks (i.e. how to make a profit) and return to revenue growth.

Anyway, I hope I am now a better investor as a result.

My GEO holding is now worth $500 so I have essentially lost all my investment in this mut. I dont look at what the sp is doing anymore its too depressing and I cant face selling them for 16c :(

Well done making a profit of SNK you are a rare breed! I also own that mut and have also lost most of my investment in it.

I also hold SLI and live in hope that it will turn around one day soon and make up for those other stinkers ;)

Lifes lessons eh! Oh and I actually own and love two four legged muts so not all muts are bad! :)

[RupertBear]

Oh and they are planning to list on the Australian stock exchange in 2017! Really! :eek2:

[JAX]

My GEO holding is now worth $500 so I have essentially lost all my investment in this mut. I dont look at what the sp is doing anymore its too depressing and I cant face selling them for 16c :(

Well done making a profit of SNK you are a rare breed! I also own that mut and have also lost most of my investment in it.

I also hold SLI and live in hope that it will turn around one day soon and make up for those other stinkers ;)

Lifes lessons eh! Oh and I actually own and love two four legged muts so not all muts are bad! :)

Cut your losses, get your $500 and go have a nice dinner in commiseration. You will be lucky for a Mcdonalds combo if it continues on its current path and you dont act now.

[couta1]

Cut your losses, get your $500 and go have a nice dinner in commiseration. You will be lucky for a Mcdonalds combo if it continues on its current path and you dont act now. Too true, as an example, I sold my small holding in IQE for $30 after having paid $15000. It's easy to just become like a possum caught in the headlights in these sort of stocks.

[RupertBear]

850k seller at 16. Already almost 4m shares traded. Death spiral near.

Who would be stupid enough to buy them :confused: strange

[blackcap]

Who would be stupid enough to buy them :confused: strange

Well not as stupid as some posters who paid over $2 for them :P:)

[RupertBear]

Well not as stupid as some posters who paid over $2 for them :P:)

OUCH! Thats harsh but true! LOL :D

[blackcap]

OUCH! Thats harsh but true! LOL :D

I was joking RupertBear. But what I really mean to answer your question which I do believe you asked seriously.... is this. Buying now at 16 cents is a lot less risky than buying this stock two years ago. So although 4m shares may have been traded, it could well be a very small parcel for a big investor and this is the "punt" part of the portfolio. A lot less risk buying a stock at these levels so it may not be a bad entry point. I guess the payoff/risk matrix is maximum loss = 16 cents, maximum upside 300 cents.
(p.s I would not touch with a bargepole after the latest results but each to their own)

[Survfer]

Makes an interesting case study of a failing business, aided and abetted by the NZX’s failure to police its material disclosure rules allowing GeoOp to get away with a smokescreen of spin!

The April 2016 independent advisory report for the IIT acquisition forecast underlying FY16 revenue of about $4.5 million for the combined Geo + IIT entity. Geo now reports an ARR run rate of $3.674 million as at 30 December 2016, it’s doubtful they will actually achieve even the ARR of $3.674 million in the full FY17 year let alone getting anywhere near the advisory report's forecast of an underlying revenue of $4.5 million for FY16.

The latest rabbit out of the hat is the claim GeoServices revenue will grow on the back of increased price points introduced in the reported 6 months. Average revenue inched up to $7/month in the 6 months suggesting they grandfathered the price existing customers pay, while GeoService's growth in user numbers continued to tank (net ~2% user growth over the 6 months). This suggests revenue growth will have to come off the back of new customers who may be loath to pay a higher price, while an unsustainable churn rate (the last time they reported the churn rate it was around 50%) can be expected to increase, which doesn’t auger well for the future.

A lot of GeoService's legacy growth can be attributed to them buying market share with an actual $6 +/-/month average revenue per user compared to the $20/month forecast in the original investment document. While buying market share is a classic SaaS launch strategy they still only achieved about half the users the original investment document forecast were needed to achieve break even (at the forecast $20/month average revenue per user), forecast in the investment document to happen well before now.

To add to the picture of incompetence it seems that on a number of occasions they’ve failed to advise the companies office of the issue of new securities, required to be done within 10 working days of the issue of new securities. Currently the companies office site shows 49.4m shares, except they’ve got 70.6 m shares issued, there’s been at least 3 issues since they last updated the companies office back in June 2016.

[RupertBear]

Excuse my ignorance but if GEO delists from the NZX and lists on the AX what does that mean for NZX shareholders? :confused:

[couta1]

Excuse my ignorance but if GEO delists from the NZX and lists on the AX what does that mean for NZX shareholders? :confused: You'll have to sell them on the ASX, why wait? You know you want to be rid of this dog before then.:D

[RupertBear]

You'll have to sell them on the ASX, why wait? You know you want to be rid of this dog before then.:D

Would you like them Couta? They at a bargin basement price, cant go any lower, they a winner for sure, no worries :t_up:

[couta1]

Would you like them Couta? They at a bargin basement price, cant go any lower, they a winner for sure, no worries :t_up: No thanks, I've sold enough mutts this year to fill up the city pound. Sticking to blue chip pedigrees going forward.

[Xerof]

Anyone have any opinions the Preliminary Half Year Results?

As they say mushroom, you've been kept in the dark and fed on bullsh1t

[Tomtom]

ODT saying GeoOp are considering delisting on the NZAX and moving to the ASX.

Perhaps we just never really understood their grand vision.

[silverblizzard888]

I never saw what was so great about this company, came on the market just as Xero was doing exceedingly well and investors heavily linked it with Xero since it had prior staff from Xero and was in the space of doing tech, which even Wynyard and Sli were highly valued at that time. There was nothing too proprietary about what they did and trying to sign up tradies to use tech? Didn't they know tradies love under the table dealings? Or that tradies aren't the most motivated adopters of tech? If Pacific Edge had a hard time selling a bladder cancer test to highly educated men, how was geo-op meant to get better success?

From their interim report its actually rather shocking to see they needed to acquire another company to make their numbers look good or else they would be at 20% growth from mind you a rather small base of revenue. I've seen Snakk grow faster and yield nothing special, so why would these guys be any better?

For me it's worth $5 million in intrinsic value or 7 cents per share.
Just my thoughts anyway.

[blackcap]

There was nothing too proprietary about what they did and trying to sign up tradies to use tech? Didn't they know tradies love under the table dealings? Or that tradies aren't the most motivated adopters of tech? If Pacific Edge had a hard time selling a bladder cancer test to highly educated men, how was geo-op meant to get better success?


Never really followed this company and did not know what they did. But getting tradies on an app? How bloody stupid is that as a business model.

[cyclist]

Excuse my ignorance but if GEO delists from the NZX and lists on the AX what does that mean for NZX shareholders? :confused:

Just had this happen to me with OGC. At least with ANZ Share and Bond Trading (and I would guess ASB too), you can place a sell order on the ASX for the shares that have been transferred without needing to be set up with a chess account or anything. But unless you are set up properly, you can't buy them back again.

[mushroom]

Been watching the shares over the past few days and now up to $0.20. Who TF is buying? It seems "their" only plan is to short their own shares on a ASX release if that is even possible?

I smell a rat but not one based on a successful business, innovative solution or company or anything to do with profit. It simply seems to be boiler room tactics?

Do they even qualify for the ASX? Too many questions for my little brain.

[RupertBear]

Been watching the shares over the past few days and now up to $0.20. Who TF is buying? It seems "their" only plan is to short their own shares on a ASX release if that is even possible?

I smell a rat but not one based on a successful business, innovative solution or company or anything to do with profit. It simply seems to be boiler room tactics?

Do they even qualify for the ASX? Too many questions for my little brain.


Yes I noticed the share price has gone up to $0.20 as well and I also thought WTF is going on?! Weird as :confused:

[mushroom]

Does anyone have any thoughts on the
GEO Interim Results HY17?

[hardt]

Does anyone have any thoughts on the
GEO Interim Results HY17?

-100% margins and rising debt.

They're in a highly competitive market and their customer growth is not sufficient enough to hit that "critical mass" in the next 5 years.

A basic valuation is sitting well below the current SP as we see share dilution dump shareholders value for the next 5-10 years.

6. SHARE CAPITAL
Balance at 30 June 2016 -- 49,393,299
Balance at 31 December 2016 --- 70,574,926

Wait till you see something really turn around before you put a penny in there.

[vorno]

It seems fairly valued at 20c.

It does have huge support at 16c and if it can list on the ASX with more liquidity there's upside.

Not that I'll buy it anyway.


...Please, the share price goes up/down 10% when someone just buys $5,000 worth of shares!
Don't touch this one with a 10ft pole!

[mushroom]

That's the issue. Not buying but selling. I'm one of the idiots that swallowed the hype so now stuck with a massive loss of tens of thousands of dollars if I sell.

[hardt]

That's the issue. Not buying but selling. I'm one of the idiots that swallowed the hype so now stuck with a massive loss of tens of thousands of dollars if I sell.

Were you there from the beginning?

[couta1]

That's the issue. Not buying but selling. I'm one of the idiots that swallowed the hype so now stuck with a massive loss of tens of thousands of dollars if I sell. Having sold a few of these Dog stocks over the last couple of years for a loss of a six figured sum in total, sometimes you just have to bite the bullet and exit no matter what it takes, your not an idiot, you were just blinded by unrealistic possibilities at time of purchase.:cool:

[mushroom]

I bought a few parcels around the $3 mark.

[RupertBear]

I bought a few parcels around the $3 mark.
Ya poor bugger! I sympathise I bought more than I should have at $2.80 so you are not alone!:(

I cant bear to sell mine for next to nothing either. I still live in hope the share price might just might start to creep up again although that approach didnt work so well for me with my Wynyard shares where I literally lost both my arms and my legs :scared: but ya never know! ;)

[RupertBear]

That's the issue. Not buying but selling. I'm one of the idiots that swallowed the hype so now stuck with a massive loss of tens of thousands of dollars if I sell.

Oh and if it helps I am the idiot that also own Snakk Media shares! :t_down:

[Baa_Baa]

I bought a few parcels around the $3 mark.


Ya poor bugger! I sympathise I bought more than I should have at $2.80 so you are not alone!

Geepers, there were only 5 weeks that the price was even in that range, during the first 13 weeks of listing. Feeling for you now, have you thought of a way to signal when it's time to get out of a loser, like an exit strategy maybe, or stop loss orders, or something? Bit past it though with this one I admit.

[RupertBear]

Geepers, there were only 5 weeks that the price was even in that range, during the first 13 weeks of listing. Feeling for you now, have you thought of a way to signal when it's time to get out of a loser, like an exit strategy maybe, or stop loss orders, or something? Bit past it though with this one I admit.

Thank you for your advice. Geo Op was one of my very first share purchases so I was stupid on many levels. I mistakenly belived the buy and hold strategy was the right thing to do. WRONG! I have learned a lot from my mistakes, I cant say I wont make more mistakes but I look at the graphs now and I get out much sooner. I probably jump ship to early now but its better than loosing your limbs! ;)

[couta1]

Oh and if it helps I am the idiot that also own Snakk Media shares! :t_down: My Dog kennel once contained the following mutts,Snakk/SLI/IQE/TTK/PEB/WYN, didn't own GeoOP but nethertheless an impressive list of mutts every pound would love to have.

[hardt]

Ya poor bugger! I sympathise I bought more than I should have at $2.80 so you are not alone!:(

I cant bear to sell mine for next to nothing either. I still live in hope the share price might just might start to creep up again although that approach didnt work so well for me with my Wynyard shares where I literally lost both my arms and my legs :scared: but ya never know! ;)

Not sure why people love NZ SaaS stocks so much, hoping to get in on the next XRO maybe?

There were plenty of other companies offering a better service than GeoOp at the time, surely people did their own research into it... right?

[Baa_Baa]

Not sure why people love NZ SaaS stocks so much, hoping to get in on the next XRO maybe?

There were plenty of other companies offering a better service than GeoOp at the time, surely people did their own research into it... right?

It's simple with hindsight though isn't it? There's a heap of people who have lost a truckload on XRO buying above $20 or so where it has finally crawled back to now, after years of decline and so far a relatively modest recovery.

I think you're probably right though, that a few years ago there was a real hype in the NZX/AX with pre-profit tech listings, but that's all pretty much gone now with only a small few that have delivered sustained SP growth (like an Amazon does for example, that confounds logical or traditional investor psychology). XRO isn't one of them. PPH has, but even that has gone sideways since the consolidation, DIL did OK eventually after giving investors the sh1ts dropping to 0.05(!), not sure if there are any others. SLI no. WYN dead. PLX stagnant yawn. GEO fecked. TTK spruiked on buyout potential otherwise boring. And on and on.

I think my point, which is not really advice but more a personal reflection on 'investing' in startups, high-growth, and pre-profits is that it requires ACTIVE management (that means being right on top of your money at all times):

- enter with as much conviction and knowledge as possible,
- never enter blind or on someone else recommendation,
- extensively research the promoters, executive, management, products and customers, look for prior successes,
- detach completely from any emotion or confirmation bias (easy to say) as nothing the company does is as relevant as how the market values it,
- keep a very close eye on what the market actually does, the market is key,
- monitor sentiment here and elsewhere, but don't buy into it,
- invest very modest sums as a % of portfolio,
- run up with the gains and progressively take profits to a freehold position,

if it's working out, great, but even then ...

- know what you're looking for to get out, and if it happens get out (refer stop losses)
- cut losses quickly (refer stop losses).
- put stop losses on any buy-in, automate your unemotional exit

Charts help a lot because none of these companies will have any solid combination of fundamentals that traditional investors look for when deciding to invest.

[couta1]

Good post Baa Baa, and very true re Xro. I bought in at $42 and then it dropped back into the low teens, had to do a balsy chuck the kitchen sink at it to obtain an average price of $22 and escape with only the smell of smoke on my clothes. I wonder how many as still sitting on large losses, I'd say many.

[RupertBear]

It's simple with hindsight though isn't it? There's a heap of people who have lost a truckload on XRO buying above $20 or so where it has finally crawled back to now, after years of decline and so far a relatively modest recovery.

I think you're probably right though, that a few years ago there was a real hype in the NZX/AX with pre-profit tech listings, but that's all pretty much gone now with only a small few that have delivered sustained SP growth (like an Amazon does for example, that confounds logical or traditional investor psychology). XRO isn't one of them. PPH has, but even that has gone sideways since the consolidation, DIL did OK eventually after giving investors the sh1ts dropping to 0.05(!), not sure if there are any others. SLI no. WYN dead. PLX stagnant yawn. GEO fecked. TTK spruiked on buyout potential otherwise boring. And on and on.

I think my point, which is not really advice but more a personal reflection on 'investing' in startups, high-growth, and pre-profits is that it requires ACTIVE management (that means being right on top of your money at all times):

- enter with as much conviction and knowledge as possible,
- never enter blind or on someone else recommendation,
- extensively research the promoters, executive, management, products and customers, look for prior successes,
- detach completely from any emotion or confirmation bias (easy to say) as nothing the company does is as relevant as how the market values it,
- keep a very close eye on what the market actually does, the market is key,
- monitor sentiment here and elsewhere, but don't buy into it,
- invest very modest sums as a % of portfolio,
- run up with the gains and progressively take profits to a freehold position,

if it's working out, great, but even then ...

- know what you're looking for to get out, and if it happens get out (refer stop losses)
- cut losses quickly (refer stop losses).
- put stop losses on any buy-in, automate your unemotional exit

Charts help a lot because none of these companies will have any solid combination of fundamentals that traditional investors look for when deciding to invest.

Helpful post thank you :)

[RupertBear]

QUOTE Couta "My Dog kennel once contained the following mutts,Snakk/SLI/IQE/TTK/PEB/WYN, didn't own GeoOP but nethertheless an impressive list of mutts every pound would love to have."



Good post Baa Baa, and very true re Xro. I bought in at $42 and then it dropped back into the low teens, had to do a balsy chuck the kitchen sink at it to obtain an average price of $22 and escape with only the smell of smoke on my clothes. I wonder how many as still sitting on large losses, I'd say many.

Geepers you live on the edge Couta! Ya must have ***** of steel!

[Ggcc]

All I know is in the tech sector, most of the investment is swallowed up in overpaid management and staff. They are only worth their money if the company makes that a profit, or profit is in sight. I had a friend who worked in analytics and was disgusted the company did not offer a free gym membership....? Sounds like sour grapes and probably is lol. I won't enter into any start ups again. Also I am still a happy individual who lost money on Wyn, luckily I made money on other great companies like summerset, infratil and heartland. Hope all is not lost for the tech sector completely

[Baa_Baa]

Good post Baa Baa, and very true re Xro. I bought in at $42 and then it dropped back into the low teens, had to do a balsy chuck the kitchen sink at it to obtain an average price of $22 and escape with only the smell of smoke on my clothes. I wonder how many as still sitting on large losses, I'd say many.

Thanks Couta, it's good to share our learnings even though we all have to find our own strategy and methods that we can live with and work for us. I watched (read) your moves with XRO and I'd have to say in all honesty that I cringed, you had way bigger balls than anyone else, making the moves you did, you read the chart and the tea leaves and when it shAt itself to $13 bucks and recovered, you made your moves.

Great recovery strategy, I'm glad for you it worked out, a small loss is better that a big loss or total loss. Tough lessons though eh? For my part I couldn't pull the buy trigger even though tempted at $13, I thought $11, yeah I'm in, but it never got there. It's still my biggest ever upside win though, but that was from early days and an exit which now seems very conservative. I can't see myself buying a $20 share that doesn't make a profit and hasn't cracked the all important USA market, but history will eventually say I'm either a woosey or prescient. I prefer more certainty nowadays.

I agree though, I know quite a few folks who are accidental millionaires from buying XRO in the early days, and sadly others who are nursing massive losses and will be for however long it takes to get to $30-$45 or higher. They all still hold, none are 'active' investors. None have any of the skills we see discussed here every day. They just buy someone else recommendations and despite watching their fortunes every day, they don't do anything about it. They don't know what to look for and wouldn't know what to do anyway. Even the big winners seem strangely happy enough to have lost millions of unrealised gains on the promise that one day it'll all come back. Weird. Maybe they're right but they have no idea about opportunity cost.

But back to GEO, this is a spectacular market dog. It illustrates extremely well that the actual performance of the company whether good, average or bad, has little or no correlation to how the market actually values it. For most investors, they could take their eye off the company completely and just monitor the market reactions and decide how to manage their investment. Nevertheless if they knew how to do that, then they would have been out of this mess a long time ago.

[mushroom]

I hear you Ggcc.

GeoOp has spent millions of our money on high salaries for their own benefit. Flash office space and a huge amount on a useless CEO.

They have had no innovation that I can see, no point of difference. If it will take to kill them off is one or two of the competition giving away free migration and accounts for 3 or 6 months.

It's now being used as an examaple of how not to do a startup and IPO in a few universities I have heard.

Fricken joke.

[mushroom]

One thing that gets me is that I want to invest to get a dividend not necessarily from buy sell. It seems most companies are not focused on profitability at all.

Geoop only real news is who or how any keeping the lights on, not strategy, growth or profitability. It's a joke. Their results look like they are flat lining with a high churn.

When walking past a cinema a few years ago one of my friends pointed to the train wreck movie poster. He said does that look like The CEO of your GeoOP investment.

My only reply was, yup. And I paid for the champers.

[Bilbo]

My Dog kennel once contained the following mutts,Snakk/SLI/IQE/TTK/PEB/WYN, didn't own GeoOP but nethertheless an impressive list of mutts every pound would love to have.

Good list there although I disagree with SLI being called a mutt. Yes the sp performance has been terrible, but it is not in the same breed as the others. It has real revenues and a proven product. SLI Market cap is currently $22.4m on revenue of $31m whereas GEO has market cap of $12.7m on revenue of $2m. SLI have not needed continual capital raising since IPO and have a long 15+ year history as a company. When you compare that to GEO it makes the current GEO sp seem crazy. How could it ever have been valued at $2.50+ per share?

[couta1]

Good list there although I disagree with SLI being called a mutt. Yes the sp performance has been terrible, but it is not in the same breed as the others. It has real revenues and a proven product. SLI Market cap is currently $22.4m on revenue of $31m whereas GEO has market cap of $12.7m on revenue of $2m. SLI have not needed continual capital raising since IPO and have a long 15+ year history as a company. When you compare that to GEO it makes the current GEO sp seem crazy. How could it ever have been valued at $2.50+ per share? I guess it all comes down to how you classify a mutt.I bought SLI in 2013 for $2.25, it hit around $2.90 during that period, I sold it in 2016 for $1.14 and it's currently trading at 36c. It's chances of ever getting back to my buy in price of $2.25 are miniscule IMO, hence my classification.

[hardt]

Good list there although I disagree with SLI being called a mutt. Yes the sp performance has been terrible, but it is not in the same breed as the others. It has real revenues and a proven product. SLI Market cap is currently $22.4m on revenue of $31m whereas GEO has market cap of $12.7m on revenue of $2m. SLI have not needed continual capital raising since IPO and have a long 15+ year history as a company. When you compare that to GEO it makes the current GEO sp seem crazy. How could it ever have been valued at $2.50+ per share?

SLI went through the similar hype train like the rest of them, reality set in and the market corrected the mistake...

SLI can't survive without constant improvement and innovation, which as we know full well, is not free = capital reserves will not last forever.

[macduffy]

Not sure why people love NZ SaaS stocks so much, hoping to get in on the next XRO maybe?

There were plenty of other companies offering a better service than GeoOp at the time, surely people did their own research into it... right?

Is it because many investors feel that they ought to be in tech-type stocks - blame Google, Amazon, Facebook etc - but don't give sufficient thought to the low success rate for startups in this sector? Hence a tendency by many to jump at whatever comes to the lists. Personally, I'm with W Buffett - I don't understand the stuff so I keep out!

[mushroom]

Question on market manipulation. If I use my circa $3.00 shares and sell a few small parcels to drop the share price down to say $0.16 or lower then buy some bigger parcels at that rate and sell at $0.20 ish.. making around 15%... is that legal?

[hardt]

Question on market manipulation. If I use my circa $3.00 shares and sell a few small parcels to drop the share price down to say $0.16 or lower then buy some bigger parcels at that rate and sell at $0.20 ish.. making around 15%... is that legal?

You can do whatever you want to, it's about if you can pull it off or not.

Fully legal on market buy and sell orders... easy with the big spread small caps.

[Baa_Baa]

Question on market manipulation. If I use my circa $3.00 shares and sell a few small parcels to drop the share price down to say $0.16 or lower then buy some bigger parcels at that rate and sell at $0.20 ish.. making around 15%... is that legal?

If your broker, direct or online, has even the slightest suspicion that you're gaming the price, they won't place your orders.

[trader_jackson]

Question on market manipulation. If I use my circa $3.00 shares and sell a few small parcels to drop the share price down to say $0.16 or lower then buy some bigger parcels at that rate and sell at $0.20 ish.. making around 15%... is that legal?

You've also got to remember (unless I'm missing something here), there has to be a seller for you to be the buyer... in an illiquid stock like GEO you might not find a seller as easy as 'that'

[mushroom]

Someone is buying. Only God knows why. My only guess is some GeoOP main investors trying to increase share allotment prior to the ASX. I can't see them pulling it off and they will have a restraint of one or two years so unlikely to make any money anyway.

[Harvey Specter]

Question on market manipulation. If I use my circa $3.00 shares and sell a few small parcels to drop the share price down to say $0.16 or lower then buy some bigger parcels at that rate and sell at $0.20 ish.. making around 15%... is that legal?If you dump down to 16c, why would others sell big parcels to you at that price? And if large parcels do go through at 16c, that is the new market price so why would people buy of you at 20c. Risky game in an illiquid stock.

[mushroom]

Thanks Harvey. At the moment my stock is worth on average 5% of my original buy price.. Just looking for options to reduce the hurt. It's a low six figure loss. Should have bought the boat....

[couta1]

Thanks Harvey. At the moment my stock is worth on average 5% of my original buy price.. Just looking for options to reduce the hurt. It's a low six figure loss. Should have bought the boat.... I feel for you, those of us that have had six figure losses know the pain involved.

[blackcap]

Thanks Harvey. At the moment my stock is worth on average 5% of my original buy price.. Just looking for options to reduce the hurt. It's a low six figure loss. Should have bought the boat....

I feel for you too. Its never nice losing money on the markets or elsewhere. However what was your thought processes putting the potential of a 6 figure loss (that hurts) in a risky stock? A stock such as GEO should not make up any more than 5% of a portfolio (maximum 10% if you are young and a risk taker). If that were the case your 6 figure loss would not hurt. Unless of course it was a punt and then you might as well have put $100k plus on black or red at the casino.

[couta1]

Whether you lose a six figure sum in a risky stock or a not so risky stock like CNU, the pain and loss are both the same.

[blackcap]

Whether you lose a six figure sum in a risky stock or a not so risky stock like CNU, the pain and loss are both the same.

The point I was trying to make is that the loss of one stock (100% loss, be that whatever $ figure) should not impact your portfolio unduly, thus there should not be too much pain all round.

[couta1]

The point I was trying to make is that the loss of one stock (100% loss, be that whatever $ figure) should not impact your portfolio unduly, thus there should not be too much pain all round. I here what your saying and at the end of the day, one just has to bite the bullet and sell out, then move on, especially in these dog&lemon stocks.

[blackcap]

I here what your saying and at the end of the day, one just has to bite the bullet and sell out, then move on, especially in these dog&lemon stocks.

Definitely, need to cut losers, hard to do but a must. Agree with you there. My point is that these losers should not hurt, and if they do... then you are not diversified enough and/or not suited to having only a few stocks in your portfolio. Not meaning you personally here, just in general.

[mushroom]

Thanks for the replies. I'm not crying poor, we have other bricks and mortar investments and assets so it's more pride than anything else.

I feel that the GeoOp team did a real doozy on the investors. There is not one part of their original prospectus that has materialised. Sure they have some big user numbers but they slashed the user price to try to buy the market. They they are struggling against all the competition, churn, insane executive salaries, expensive development team. I can't believe the size of the team for the (lack of) complexity of the solution.

I still am scratching my head on how they seem to keep getting $ in the door to keep it afloat yet it's turning over less than a corner dairy store. Excluding the BS acquisition revenue.

I think Leanne thought it would be easy as Rod did it. She was wrong.

[RupertBear]

Hmm so whats going to happen with this stinker share?

[mushroom]

Personally I would like to see them rejected by the ASX even if that means I lose money. Sick of this BS company.

[mushroom]

Does anyone know how it is possible to allocate shares when trading has been suspended prior to a new ASX IPO?!?!?!

Just read the latest updates allocating shares to CTO and CIO.

[Harvey Specter]

Does anyone know how it is possible to allocate shares when trading has been suspended prior to a new ASX IPO?!?!?!

Just read the latest updates allocating shares to CTO and CIO.They are currently listed on the NZX so can do what ever they want 8982

[mushroom]

Has anyone read the GeoOp prospectus. https://nzx.com/files/attachments/263802.pdf

Thoughts?

[Survfer]

Had a belated look, first impression it is more of the BS disclosure they’ve heaped on NZ investors. Expect the ASX to do a much better job protecting the small shareholders than the NZX.

What struck me most is the letter from the Chair states …. Immediately prior to Geo taking over ownership and management of GeoSales, this product lost a major customer at the end of FY16. This customer loss, which was fully disclosed at the time of the acquisition, causes pro forma year-on-year revenues to appear to be flat [emphasis added].

The veracity of this statement is important because the GEO Sales (then IIT) acquisition was a related party transaction, the Chair and related entities were the majority owners of IIT. My recollection is the IIT acquisition was completed on about 1 June, but there was no disclosure of the loss of the major IIT customer until well into July, more than a month later. I can’t absolutely confirm the dates as they’ve pulled the announcements from their website. It stretches credibility to believe the IIT vendors didn’t know about the major customer loss well before the acquisition completing, you would think they kept closely in touch with a customer representing perhaps as much as a third or more of their user base. Also, the customer implemented an in-house solution, the shift wouldn’t happen overnight, in normal circumstances there would have been a migration plan including getting the customer’s data across from IIT to the new system.

Then there’s the question of how come the auditors subsequently signed off the FY16 annual accounts without impairment given the major customer equated to possibly a third or more of IIT’s users and a massive hit on the revenue line.

The reality is GeoOp’s minority shareholders had a related party transaction dumped on them that Blind Freddy could see was a dog, their customer base had collapsed in Aus, a good indication the product was flaky and the US would follow. IIT’s revenues still haven’t recovered to anywhere close to pre-acquisition levels, the share price has suffered accordingly!

There’s a lot of other stuff that should scare off investors.

[Leftfield]

Helpful info' Survfer...... good warning for potential investors. Perhaps your info' should be passed on to NZ Shareholders Assn?

[mushroom]

https://www.nzx.com/companies/GEO/announcements/307732

Just prior to the end of the Offer period, ASX advised GEO that it required significant additional capital to be raised above this minimum to satisfy its own requirements.

Looks like ASX doesn't want a bar of GeoFlop?

[trader_jackson]

https://nzx.com/companies/GEO/announcements/308773

Sounds like a very expensive U-turn!
ASX clearly skeptical, and there wasn't enough support to remove this skepticism.

[mushroom]

Wow, reduced cash burn to $140k a month.. and had only $250k in cash left.. had to borrow another $1 mill from the available $1.5... Am I missing something here??? Why won't this company die?

https://www.nzx.com/announcements/314951

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/GEO/314951/275538.pdf

[Survfer]

[QUOTE=mushroom;706515]Wow, reduced cash burn to $140k a month.. and had only $250k in cash left.. had to borrow another $1 mill from the available $1.5... Am I missing something here??? Why won't this company die?

The CEO resigned in late January, today they announced the CFO is going at the end of March, the coincidence raises warning flags. This triggered me to have a look at the half year accounts. A few takeaways:


There’s no mention of how revenue for the half year to 31 December 2017 compared to the 6 month period ending 30 June 2017, which should raise a flag. It looks like their operating revenue fell by around 5% and possibly a lot more depending on how much grant money they actually got. The IIT (GeoSales) acquisition the major shareholder dumped on them continues to collapse in the US just like was happening in Oz prior to the acquisition, GeoServices growth has tanked which isn’t a good look for a SaaS startup still hemorrhaging serious cash.
The much hyped reduced cash burn hides the fact creditors rose by $337k while receivables fell by $142k relative to the prior comparable period ending 31 December 2016, a negative movement of $479k.
The P&L shows grant + interest income of $160k, less $3k interest shown in the cashflow statement, making the grant income $157k for the half. Adding the $479k negative creditors/debtors movement to the net $1,672k cash consumed in the period, then winding out the grant income of $157k and crediting the $660k ASX/restructuring costs, suggests an underlying operational cashburn for the half of around $275k pm. However, the cashflow statement shows grant income of $239k, not sure why the difference to the P&L’s $157k. If $239k is the true grant number the underlying operational cashburn was around $290k pm.


The end can't be far away?

[hardt]

Wow, reduced cash burn to $140k a month.. and had only $250k in cash left.. had to borrow another $1 mill from the available $1.5... Am I missing something here??? Why won't this company die?

The CEO resigned in late January, today they announced the CFO is going at the end of March, the coincidence raises warning flags. This triggered me to have a look at the half year accounts. A few takeaways:


There’s no mention of how revenue for the half year to 31 December 2017 compared to the 6 month period ending 30 June 2017, which should raise a flag. It looks like their operating revenue fell by around 5% and possibly a lot more depending on how much grant money they actually got. The IIT (GeoSales) acquisition the major shareholder dumped on them continues to collapse in the US just like was happening in Oz prior to the acquisition, GeoServices growth has tanked which isn’t a good look for a SaaS startup still hemorrhaging serious cash.
The much hyped reduced cash burn hides the fact creditors rose by $337k while receivables fell by $142k relative to the prior comparable period ending 31 December 2016, a negative movement of $479k.
The P&L shows grant + interest income of $160k, less $3k interest shown in the cashflow statement, making the grant income $157k for the half. Adding the $479k negative creditors/debtors movement to the net $1,672k cash consumed in the period, then winding out the grant income of $157k and crediting the $660k ASX/restructuring costs, suggests an underlying operational cashburn for the half of around $275k pm. However, the cashflow statement shows grant income of $239k, not sure why the difference to the P&L’s $157k. If $239k is the true grant number the underlying operational cashburn was around $290k pm.


The end can't be far away?

Deferred grant income from the FY17 statements, nothing out of the ordinary having CFS differ from P&L.



GEO OP
FY17
1H18







Grants Received on P&L
382
157


Grants Received on CFS
236
239



Why the government spends millions of dollars on this kind of business is lost on me...

Without some meaningful growth or huge reduction in costs will they ever get away from cash burn.

Margins are expanding which is a sign they are at least headed in the right direction...

[mushroom]

Another director bails
https://www.nzx.com/announcements/315598

GEO Interim Report HY 18
And more lies?
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/GEO/315645/276357.pdf

[winner69]

Like the use of the word ‘intended’ in the headline

https://quoteapi.com/resources/da9866271f9d0071/announcements/geo.nzx/317354/GEO_GEO_ANNOUNCES_SUITE_OF_INITIATIVES_INTENDED_TO _DRIVE_GROWTH.pdf?bearer=eyJhbGciOiJIUzI1NiIsInR5c CI6IkpXVCJ9.eyJzY29wZSI6WyJndWVzdHMiLCJ1c2VycyJdLC JuYmYiOjE1MjUxMjE0OTAsImV4cCI6MTUyNTEyMjM5MCwiaXNz Ijoic3RvY2tuZXNzIiwibm9uY2UiOiJkYTY1MmRjMTY0YjgwOT JjIiwiaWF0IjoxNTI1MTIxNDkwLCJzdWIiOjc4OTY5NX0.X5om 2guQVFEjuqJSrYq28KaXdvue6g2LZtGs_YhH5qI

[winner69]

All seems a bit cloak and dagger is

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/GEO/319855/281611.pdf

[RupertBear]

Geo adopts new brand identity
Geo Limited (formerly GeoOp Limited) today launched a new brand and identity for its products and committed itself to a mission to “make it easier out there” for its customers by offering highly relevant, easy-to-use mobile workforce solutions with stand-out customer service.

“The new identity, vision and purpose have formalised our strategy within a framework that clearly articulates our proposition to customers, differentiates us from our competitors, engages our team and makes our value proposition clear. We believe it will accelerate customer acquisition and will be a key initiative in driving increased shareholder value.”


“Geo enjoys an enormous opportunity. The market for our products is huge and growing. Gartner estimates the global market for SaaS services in 2017 was US$60.2 billion. It also forecasts the market will grow at a compound average rate of 18.1% a year to reach US$117.1 billion by 20212.”

Oh goody us poor suckers who bought into the hype with this crappy company might get some of our money back, yeah right :lol::lol: Geo flop :t_down:

[Tomtom]

I don't understand why reducing cash burn was a priority if they could have grown revenue by 30% instead. In fact if they could grow revenue at that rate over a year, regardless of cash burn, we'd be having a very different conversation right now and probably be in up to our eyeballs (and in my case eating a very big slice of humble pie.)

[Catalyst]

Worth a punt? 1H19 out. Growing revenues 24%. $2m in bank no debt. $12m market cap. Cash burn and profitability still on the weak side but this seems likely to go into positive territory once a full year of the new pricing has taken effect. Surely an obvious takeover target for some digital company once in positive profitability?

[mushroom]

To be honest, I'm surprised they have survived so long. They are still lacking in innovation, are still loosing $150,000 a month. I don't know anyone that would want to buy it as it doesn't really offer anything that someone can't get with either a slightly lower price or a better product offering that all the other players already have.

GeoOp is still a get rich quick scheme and seeing as their ASX listing failed miserably I don't think there will be any huge traction soon.

[100101]

Probably still worth a punt at 11 cents though.

[SilverBack]

Geo adopts new brand identity


Geo Limited (formerly GeoOp Limited) today launched a new brand and identity for its products and committed itself to a mission to “make it easier out there” for its customers by offering highly relevant, easy-to-use mobile workforce solutions with stand-out customer service.

“The new identity, vision and purpose have formalised our strategy within a framework that clearly articulates our proposition to customers, differentiates us from our competitors, engages our team and makes our value proposition clear. We believe it will accelerate customer acquisition and will be a key initiative in driving increased shareholder value.”


“Geo enjoys an enormous opportunity. The market for our products is huge and growing. Gartner estimates the global market for SaaS services in 2017 was US$60.2 billion. It also forecasts the market will grow at a compound average rate of 18.1% a year to reach US$117.1 billion by 20212.”

Oh goody us poor suckers who bought into the hype with this crappy company might get some of our money back, yeah right :lol::lol: Geo flop :t_down:

There are times Rupert when it pays to cut your losses and move on and put your money to better use elsewhere.

[mushroom]

geo$0.085 ....

[bulyak]

Not a lot of positives here on this thread. Am I missing something? Subscription revenue positive, moving in the right direction and not too shabby, sitting at $4.9 Mil for YE 2019. Burn about 100K per month but sounds like they are close to break-even. Current customers now spending $10 more per month then a year ago. Dont really know much about the product but would appear current customers base likes it and its growing by around 24%. This thing should have a market of at 30 Million as opposed to 6.5 million. I think that is why the current chairman is putting forth a 1.5 million conv note on very reasonable terms.

[youngatheart]

Share price down 17% and the half year report is expected in a couple of weeks... Leaky boat?

[RupertBear]

I fear the leaky boat may be sinking...I was a holder when it first listed but not a holder now...hope the boat stays afloat for those holding....

[mushroom]

Its a truckload for me.... :( I stupidly believed the hype.

[RupertBear]

Its a truckload for me.... :( I stupidly believed the hype.

You were not alone believing the hype, I lost most of what I put in :(

[mushroom]

Sorry to hear that Rupert but put it this way, I decided to put it into this rather than a 3 bedroom rental in south auckland.

My wife is till saying "I told you so". I'll leave comment there.

[RupertBear]

Sorry to hear that Rupert but put it this way, I decided to put it into this rather than a 3 bedroom rental in south auckland.

My wife is till saying "I told you so". I'll leave comment there.

Wee jump up today mushroom, hope it continues for you and other holders

[mushroom]

I need a jump of a few dollars.. How did Leanne Graham get a @#$#@ to be a member of the New Zealand Order of Merit .... FFS

[winner69]

I need a jump of a few dollars.. How did Leanne Graham get a @#$#@ to be a member of the New Zealand Order of Merit .... FFS

For her great services to the IT industry

GEO share price was pretty high when she was involved

[mushroom]

She become CEO... milked it in salary for the tune of $1.4 milllion (ish) of investor capital. then left it with no hope and future. It was a share pump and dump. She is a charlatan.

[mushroom]

0.064 cents.....

[RupertBear]

0.064 cents.....

yes thats a bit sad, I feel for you mushroom, what is going on :confused: as I have no idea!

[mushroom]

No sympathy needed.... That is the game isn't? Risk and reward?

[RupertBear]

Naa its not sympathy as in I feel sorry for you mushroom its more like I can understand how you might be feeling having taken a good walloping myself with Wynyard. Cheers

[mushroom]

Naa its not sympathy as in I feel sorry for you mushroom its more like I can understand how you might be feeling having taken a good walloping myself with Wynyard. Cheers

Wynyard had potential. Geoflop is too simple. Easy to replicate.

[mushroom]

0.041 cents. It has to be close to death?

[RupertBear]

0.041 cents. It has to be close to death?

Currently flying up mushroom! Up almost 10% today! What the heck is going on??:confused:

[RupertBear]

Geepers anyone who was brave enough to buy in @ $0.02 has done very very well! Still dont know why it is flying up.
disc not currently a holder but was and sold out for a loss

[Tomtom]

It doesn't take a great nominal value of trade to move an illiquid listing.

[Cadalac123]

I remember reading about this company a while ago while I was researching. Don't remember ever thinking it was in a great position the rally is on somewhat unusual volumes. Will be interesting to see if there's some sort of explanation or simply price action buying. It's not like they've benefited from the current situation either, but geez what a great amount of money someone could have made putting an odd 10k or so at the bottom up almost 300%

[whatsup]

SPP @ .065 whose up to this as money raised IMHO is for nothing but Fish Heads overheads, no new acquitions !!

[mushroom]

How many times are they going to prop this thing up?
https://www.nzx.com/announcements/363451

Geezzz let it die.

[whatsup]

I cannot find any link to GEO so Im starting one link.

What is going on with GEO at present as it has moved off its recent low of .06, can anyone shed any light on its recent rise.

I thought that it was almost a cot case but it appears that I was wrong ( again ) .

[bulyak]

Good on ya @whatsup. this thing has gotta pop. Tradify was valued at 10 X ARR pre cash. The GEO boys are sitting at around 2-3 X ARR and have a much better cash burn management system in place. Talk about way under valued!!!!!! Wonder if they would know what to do if there was a further 10 million injection. Tradify lads are pretty smart when it comes to diggy marketing though.

[bulyak]

Starting to move now. Good level of liquidity. Feels like a price of 30 to 40 cents is still at the low range based on 55Million valuation Tradify received.

[Sampan]

Starting to move now. Good level of liquidity. Feels like a price of 30 to 40 cents is still at the low range based on 55Million valuation Tradify received.

Just on that, does anyone have any relevant/accurate comparison between Geo and Tradify? Are they similar companies in terms of product or does one have technology or something else that is different? What about users/subscribers?

Id appreciate any discussion on this

Thanks
Sam

[whatsup]

.138 whatsup , up again on what !!

[winner69]

Brought back up so we can rejoice the current activity ...in light of all the tales of doom and gloom in the past

[bulyak]

My understanding is that they are pretty much like for like. Tradify has a larger NZ base and GEO is lasered in on Oz. Both platforms are focused on the same pain point with slight variations, but basically the same and definitely an option of consolidation. Tradify is backed by VC - Movac and GEO is being backed by their chairman's (Roger Sharp) investment vehicle Northridge Partners. GEO has ARR of about 4-5Million and Tradify is around 5-6 Million. GEO appears to have a better handle on cashburn. Executive team at GEO has some good motivators to deliver based on announcements around options for them. Not sure what is on offer to Tradify team. CEO of Tradify sounds switched on, but is not the founder. The big difference is the market cap. Tradify was valued at 55million (pre money) based on raise and GEO is still at nzx at 15Mil. So its massively still undervalued. https://www.nzherald.co.nz/business/tradify-raises-10m-three-reasons-behind-its-sudden-boom/RNNHEQHGR4L4E5YAGHB7E3U454/

[Sampan]

Many thanks Bulyak

[bulyak]

Whats wrong with everyone. Does no-one use this channel anymore to talk about these companies. Is the NZX dying or is the communication channel dying? Wow. You've got a company here that is massively under-valued. I just dont get it. Guess everyone is taking their 100% gain from their tiny little SPP investment at $.06. Man.... us kiwis sure are a thick lot. Quite happy to chuck our kiwisaver into a scheme with some 22 year old grad and pay them an excessive fee to get us a 6% return, while most markets around the world have doubled in value over the past year.

[winner69]

Things still going well with Geo

GEO PROVES ITS RESILIENCE IN AUSTRALIAN COVID LOCKDOWNS

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/GEO/376864/351734.pdf

[Sampan]

What do we make of those numbers and that news?? On face value, the story sounds really good. Increasing metrics (such as client numbers) should feed through to revenues at some stage which do still remain rather flat. Thinking they will need to raise capital to maximise their potential (soon). I still really like this, especially if they look to expand to another jurisdiction and they get their margins a little higher.

[Dlownz]

I'm always sceptical when company release results at the end of trading

[RupertBear]

Gosh thought this thing was dead on its feet long time ago then BOOM its come back to life. Up heaps today :eek2: Geez whiz :D

[winner69]

Bhatnagar Securities fronted up with some dosh in latest capital raise

Bhatnagar was one of big supporters of Pushpay in early days and became one of their bigger shareholders

So GEO having them on board is a good sign ….they are pretty astute and successful investors

No worries Rupert …you got some?

[Sampan]

This stock continues to trade under the radar in my opinion. Has a good core of investors now and, when considered against industry peers, the market cap looks cheap. The cash burn is not overly high and the new capital to be used for scale and expansion is very encouraging. I like the management team too - they are focused on what needs to be done

Disc: Held GEO since January

[percy]

interesting noting a 6,273,916 special trade at 5.24pm.at 16 cents.
I note Lindsay Investment Trust hold or held that amount.

[Survfer]

It’s lipstick on a pig stuff, odds on the Lindsay trust bought into it and now see their mistake. Any investor with an ounce of financial acumen would run a mile after reading their accounts, its only for day traders chasing dead cat bounces.

Where’s the huge untapped market opportunity and profitability just over the horizon they’ve been talking since they listed close on a decade ago. If the market exists they’ve clearly failed, I put ‘job management software’ into Google, got to page 5 without finding them. The reality is they’ve burnt over $30m in investor capital, losses are 10 years times a falling underlying revenue, higher if you add back all the taxpayer subsidies.

If you want to invest long-term in a SaaS business have a look at IKE. It’s not for the risk adverse, they still haven’t reached their early revenue targets and remain unprofitable years after they claimed they’d reach breakeven, their original strategy of selling devices rather than services was a dead end street, it appears they’ve done a lot to fix it. But compared to this POS it has a real point of difference so you’re far less likely to flush your money down the toilet.

[percy]

This stock continues to trade under the radar in my opinion. Has a good core of investors now and, when considered against industry peers, the market cap looks cheap. The cash burn is not overly high and the new capital to be used for scale and expansion is very encouraging. I like the management team too - they are focused on what needs to be done

Disc: Held GEO since January

Wife bought in at 17.2 cps this afternoon.

[winner69]

Aaron Bhatnagar and family now hold 10% plus

They did exceptionally well with Pushpay

He no clown

[Muse]

It’s lipstick on a pig stuff, odds on the Lindsay trust bought into it and now see their mistake. Any investor with an ounce of financial acumen would run a mile after reading their accounts, its only for day traders chasing dead cat bounces.

Where’s the huge untapped market opportunity and profitability just over the horizon they’ve been talking since they listed close on a decade ago. If the market exists they’ve clearly failed, I put ‘job management software’ into Google, got to page 5 without finding them. The reality is they’ve burnt over $30m in investor capital, losses are 10 years times a falling underlying revenue, higher if you add back all the taxpayer subsidies.

If you want to invest long-term in a SaaS business have a look at IKE. It’s not for the risk adverse, they still haven’t reached their early revenue targets and remain unprofitable years after they claimed they’d reach breakeven, their original strategy of selling devices rather than services was a dead end street, it appears they’ve done a lot to fix it. But compared to this POS it has a real point of difference so you’re far less likely to flush your money down the toilet.

Soooo….do you like it or not? Cant tell…

[Muse]

Aaron Bhatnagar and family now hold 10% plus

They did exceptionally well with Pushpay

He no clown

Roger Sharp on the board representing northridge. Well regarded guy. Cant make sense of geo yet.

[bulyak]

It does seem odd that so many are keen at 16+ cents and yet they are going to issue an SPP at .13 NZD in November. https://www.nzx.com/announcements/380293 . as for Survfer's comments. Who cares what happened 10 years ago. Its a different company now. Appreciate its a crowded space, but their balance sheet is healthy, unless I'm missing something. I like IKE but I have concerns that there really isnt a massive revenue stream from this niche vertical.

[mushroom]

Either can I. All I can see is a vehicle for "executives" to pay themselves investor cash.

[Sampan]

Either can I. All I can see is a vehicle for "executives" to pay themselves investor cash.

Id be interested as to why you think this is the case .... pretty clear the funds being raised are for expansion as opposed to cash burn/exec pay

Cheers

[mushroom]

You need to look into the history.

The first CEO positioned herself to make sure she was well rewarded for little to no result (working towards profitably).

If you do the sums it was 7 figures.

[percy]

Looking to the future;

Purpose of Capital Raising

Proceeds from the Capital Raising are intended to be used to accelerate the development of the GEO platform and support increased go-to-market investment and activities in both Australia and New Zealand, as well as other international markets. GEO’s focus market of ‘tradies’ and ‘home services’ remains early in its transformation to digital and the funds raised under the Placement and this Offer will put GEO in a strong position to address and capture that large market opportunity.

[mushroom]

This is all stuff they should have had sorted at the first ipo.

It’s because again Geo is running out of cash. Another company that thought Saas was easy. Wasted millions. Rented offices in Parnell and Melbourne. Over paid their executives.

They don’t know their market. They have massive churn. It’s a dead horse. Fyi I’m an investor sadly.

[Sampan]

This is all stuff they should have had sorted at the first ipo.

It’s because again Geo is running out of cash. Another company that thought Saas was easy. Wasted millions. Rented offices in Parnell and Melbourne. Over paid their executives.

They don’t know their market. They have massive churn. It’s a dead horse. Fyi I’m an investor sadly.

Why on earth would anyone remain an investor in something that is a dead horse and something that one sees as 'not knowing their market'?
That makes no sense at all given the other opportunities out there

[mushroom]

I’m an early investor and should have sold up before it crashed. The loss is too great to sell. I have other investments which are doing well and not in the high risk category. I’m not worried about the loss. I treat this like a soap opera. It’s kind of sadly amusing what cluster this company is.

[mushroom]

Who else thinks the share price is going to drop below $0.13 NZD per share offer? If so that would be really funny. I would buy some just piss them off.

[percy]

Who else things the share price is going to drop $0.13 NZD per share offer? If so that would be really funny. I would buy some just piss them off.

Yes always fun with SPPs.
Never know whether you will get all you applied for, or how hard you may be scaled.
The most fun is when a company lets you apply for extra shares at the same price.
And that can be interesting as well....lol.

[Sampan]

Who else thinks the share price is going to drop below $0.13 NZD per share offer? If so that would be really funny. I would buy some just piss them off.

This makes no sense from you (again).

[mushroom]

Wow, knickers in a knot? I take you are not watching the share price as it was heading south until last few days.

But whatever. Get laid, chill out.

[Davexl]

Nice move up today 8% ! No news - what am I missing?

SPP application expiry tomorrow, so ?

[mushroom]

Moving in the right direction. Hopefully it lasts.

[percy]

Very heavy scaling I expect,although not unexpected..Perhaps only 35% of what we applied for.[if we are lucky]
Well the refund should fund Christmas.lol.
lhttps://www.nzx.com/announcements/383292

[percy]

Attended the agm online.
High calibre directors and competent executives, with a clear focus, means the business should be successful.
Funds raised to develop product and drive growth.

[percy]

Well the capital raise was grossly over subscribed.
I guess we could say it was a huge success.
Pity I received 12.13225% of the shares I applied for,ie 18,665 shares or $2426.45 worth for the $20,000 I applied for.
I have often posted I do not like SPP Share Purchase Plans,and this confirms the reason why.

[Davexl]

Attended the agm online.
High calibre directors and competent executives, with a clear focus, means the business should be successful.
Funds raised to develop product and drive growth.

Appreciate your endorsement Percy, have some skin in the game myself - looking through the near-term noise with the SP...

[mushroom]

And down it goes.... again. LOL. Merry Christmas everyone. Have a good one.

[Davexl]

Aaron Bhatnagar and family now hold 10% plus

They did exceptionally well with Pushpay

He no clown

What's happening with this lot at the current price - thought this was a turnaround job with Bhatnagar on board...

[Sampan]

Been keeping an eye on this also. The volumes are abysmal so I wouldnt read too much in to it, it literally moved 1.5 cents on $3000 in one session which represented a 10% move. Ón another day it moved 0.7/cent on $287!I am not sure of the underlying current fundamentals in terms of revenue and the UK expansion but the stock remains reasonably tightly held by long term holders. That said, would have thought that people might to start picking shares up at current valuation give what Tradify have just done (Tradify being the competition). They raised last year at a $55mio valuation and again recently at circa $100mio valuation so this looks like low hanging fruit if you believe in the sector and the software.
Personally, I quite like this and at current levels will start having a go

[percy]

Management's failure to say when they would stop cash burn chasing growth, and be cashflow positive, certainly stopped me adding to the wife's extremely modest holding.

[percy]

Cash burn continues.

[winner69]

NBR - The chief executive of NZX-listed software-as-a-service provider Geo has admitted the company’s half-year results were disappointing but reckoned the company has never been in better shape, and would be soon asking investors for more capital.

Apparently Pioneer going to pump in $2.5m at 13.5% and they look to other investors for another $1m

Last raise was at 13 çents in Oct 2021 …share price now 4 çents …ouch

[mr optimistic]

Yeah. Interesting report released today. Bit of competition in this space.

[Sampan]

Something not right with this company as it stands and I would be very interested to go back a year or two and check some of the statements and assertions that Tim Molloy made to investors. It doesnt feel as though the full picture may have been presented as well as it should have at the time..... this does not pass the sniff test!

[Sampan]

Snodgrass also leaving is strange given how much he 'pumped' this thing verbally.... luckily, I sold some of my holding down (not enough though) after these guys couldnt answer simple questions at the AGM. Real amateurs involved here

[Sideshow Bob]

https://www.nzx.com/announcements/421200

NZ RegCo advises that, at the request of the Geo Limited (“GEO”), it has placed a trading halt on GEO ordinary shares. The trading halt was placed at premarket open today, Tuesday, 7 November 2023.

GEO has applied for the trading halt while it considers updates to its market guidance, and also its strategic review as announced on 29 August 2023.

The trading halt will remain in place for up to two trading days until the earlier of GEO publishing a market update, or market open on Thursday, 9 November 2023.

[winner69]

Sounds ominous eh Bob

[Balance]

And where is wunderkid Mark Weldon?

BS begets even bigger BS and there is none bigger than Weldon.

[winner69]

And where is wunderkid Mark Weldon?

BS begets even bigger BS and there is none bigger than Weldon.

The old ‘think of it as the Xero for tradies’ trick

[winner69]

Wonder if Sparky’ Bhatagner still involved

[mr optimistic]

What does everyone think the trading halt is for? an offer on the table? Whats the buy out share price? All will be revealed at opening of market. mmmmmm

[Sideshow Bob]

https://www.nzx.com/announcements/421319

GEO Revises Guidance and Provides Update on Strategic Review
Further to NZ RegCo’s advice that, at the request of Geo Limited (GEO, Company), it had placed a trading halt on Geo’s
ordinary shares on 7 November 2023, GEO provides the following market update.
Background
GEO announced on 29 August 2023 that it was launching a strategic review. The Company’s Board has approved changes to
move immediately to EBITDA profit, and has decided to launch an immediate formal process to assess buyer interest in
acquiring the Company (or a similar strategic transaction).
Update on Trading and Guidance
Annualised Recurring Revenue (ARR) is expected to be in the range NZ$4.0m - $4.2m at 31 December 2023, representing
growth of 20-25% over the ARR run-rate as at 30 June 2023 and driven largely from recent price increases.
With its platform rebuild largely complete, new features in market and price increases implemented, GEO is undertaking
further cost reductions. As a result, the Company now expects to achieve a sustainable positive EBITDA run rate (including
capitalised R&D) by 31 December 2023.
Excluding the impact of R&D capitalisation, this equates to a ~$20-30k monthly operating and investing cash flow deficit. The
Company will seek to eliminate this ongoing minor cash burn through final efficiencies in its overhead cost base in early
calendar 2024.
Achieving breakeven will require a range of cost reductions, including in customer acquisition activity. This will reduce short
term growth (see Risks, below). GEO will assess and optimise the balance between revenue growth and bottom-line
profitability once EBITDA breakeven has been achieved.
Sale Process
After consideration of the updated financial outlook and conclusions from its strategic review, the Board has decided to
launch an immediate formal process to assess buyer interest in the Company. There is no guarantee that a transaction can
be completed on satisfactory terms; however, in the Board’s view, the initial interest received justifies launching a formal
process.
Balance Sheet
The Company had previously guided to achieving EBITDA breakeven by the close of FY24 within current cash reserves.
With the accelerated move to EBITDA positive by December 2023, cash at 31 December 2023 is projected to be in the range
of $600k - $800k after one-off restructuring costs.
GEO notes the need to cover the modest remaining monthly cash burn ($20k - $30k per guidance above) and the potential
one-off legal, expert and advisory costs associated with any transaction process. To ensure the Company has a stronger
liquidity buffer as it moves into a sale, GEO is investigating putting in place a small funding facility.
On 8th November 2023, Pioneer Capital clarified the definition of 'normal operating cashflows' with respect to covenants in
its loan agreement. Until now, GEO understood that the definition excluded one-off restructuring costs. Having considered
that advice, we are now aware that a technical breach of a facility covenant occurred due to the one-off restructuring costs
incurred in September 2023.
Pioneer advises that the breach has been remedied to their satisfaction and there is no continuing event of default.
Risk Profile
The ARR outlined above reflects both new features and one-off price increases, and assumes that customer retention
remains consistent with current levels. With future price increases likely to be lower, and customer acquisition activity
reduced, the rate of growth experienced in H1 24 is unlikely to be sustained. Further, the additional cost reductions being
implemented to achieve EBITDA breakeven will result in a smaller team with some potential for heightened operational risk.
For more information:
Tim Molloy
Chair
AU: +61 411 592 180
NZ: +64 21 284 0180
Email tim.molloy@geoop.com

[Sideshow Bob]

https://www.nzx.com/announcements/421319

GEO Revises Guidance and Provides Update on Strategic Review

Further to NZ RegCo’s advice that, at the request of Geo Limited (GEO, Company), it had placed a trading halt on Geo’s
ordinary shares on 7 November 2023, GEO provides the following market update.

Background

GEO announced on 29 August 2023 that it was launching a strategic review. The Company’s Board has approved changes to
move immediately to EBITDA profit, and has decided to launch an immediate formal process to assess buyer interest in
acquiring the Company (or a similar strategic transaction).

Update on Trading and Guidance

Annualised Recurring Revenue (ARR) is expected to be in the range NZ$4.0m - $4.2m at 31 December 2023, representing
growth of 20-25% over the ARR run-rate as at 30 June 2023 and driven largely from recent price increases.

With its platform rebuild largely complete, new features in market and price increases implemented, GEO is undertaking
further cost reductions. As a result, the Company now expects to achieve a sustainable positive EBITDA run rate (including
capitalised R&D) by 31 December 2023.

Excluding the impact of R&D capitalisation, this equates to a ~$20-30k monthly operating and investing cash flow deficit. The
Company will seek to eliminate this ongoing minor cash burn through final efficiencies in its overhead cost base in early
calendar 2024.

Achieving breakeven will require a range of cost reductions, including in customer acquisition activity. This will reduce short
term growth (see Risks, below). GEO will assess and optimise the balance between revenue growth and bottom-line
profitability once EBITDA breakeven has been achieved.

Sale Process

After consideration of the updated financial outlook and conclusions from its strategic review, the Board has decided to
launch an immediate formal process to assess buyer interest in the Company. There is no guarantee that a transaction can
be completed on satisfactory terms; however, in the Board’s view, the initial interest received justifies launching a formal
process.

Balance Sheet

The Company had previously guided to achieving EBITDA breakeven by the close of FY24 within current cash reserves.
With the accelerated move to EBITDA positive by December 2023, cash at 31 December 2023 is projected to be in the range
of $600k - $800k after one-off restructuring costs.

GEO notes the need to cover the modest remaining monthly cash burn ($20k - $30k per guidance above) and the potential
one-off legal, expert and advisory costs associated with any transaction process. To ensure the Company has a stronger
liquidity buffer as it moves into a sale, GEO is investigating putting in place a small funding facility.

On 8th November 2023, Pioneer Capital clarified the definition of 'normal operating cashflows' with respect to covenants in
its loan agreement. Until now, GEO understood that the definition excluded one-off restructuring costs. Having considered
that advice, we are now aware that a technical breach of a facility covenant occurred due to the one-off restructuring costs
incurred in September 2023.

Pioneer advises that the breach has been remedied to their satisfaction and there is no continuing event of default.

Risk Profile

The ARR outlined above reflects both new features and one-off price increases, and assumes that customer retention
remains consistent with current levels. With future price increases likely to be lower, and customer acquisition activity
reduced, the rate of growth experienced in H1 24 is unlikely to be sustained. Further, the additional cost reductions being
implemented to achieve EBITDA breakeven will result in a smaller team with some potential for heightened operational risk.

For more information:

Tim Molloy
Chair
AU: +61 411 592 180
NZ: +64 21 284 0180
Email tim.molloy@geoop.com

[winner69]

FOR SALE ….going cheap

Think they’ve decided it’s all too hard

[Balance]

FOR SALE ….going cheap

Think they’ve decided it’s all too hard

Looks like there's no appetite left from existing and potential shareholders/investors to provide more survival capital after 10 years as a listed entity.

Market cap of $3.75m after burning through capital raise after capital raise of over $30m.

Not as painful though as those who admired Wunderkid Mark Weldon and bought after IPO listing at over $2.00.

[mr optimistic]

Did that announcement really require a trading halt. Seemed very BAU type update. Very sad to see a Saas business like this being valued at less then X 1 multiplier. Feels like the NZX is a bit of graveyard at times. No access to liquidity, low valuations. Wouldnt it be great to see a company thrive on the NZX. Imagine. Company X raises money, drives revenue, doesnt reach profitability but still continues to grow. Raises more money at a higher valuation, continues to grow. Doesnt reach profitability. But continues to grow. Raises more money. Continues to grow. Share price goes up. Doesnt quite reach profitability. Acquires another company that bolsters company X's platform through a strategic acquisition. Raises money to help pay for the acquisition. Continues to grow. And the cycle goes on. But instead we are left with companies that have ARR of 4 mIllion NZD and all we care about is profit. Thats like 2.5 Million USD ARR. Its nothing in the scheme of things. Why would you be listed. Quit wasting our time.

[Sampan]

To be completely honest, this has been a mess for the past year and I would imagine there will be ramifications for the management of this company. The statements that have been made around projections, revenue, capital raising (in hindsight) all lack substance and honesty and I think this thing deserves some sunlight

[mr optimistic]

Anyone know what the current ARR for Tradify is? I see figures for back when they raised 10 million on a Valuation of 55Million in 2021. But curious what the numbers are currently at.

[Sampan]

Anyone know what the current ARR for Tradify is? I see figures for back when they raised 10 million on a Valuation of 55Million in 2021. But curious what the numbers are currently at.

That is a good point. I am hearing murmurs from other disgruntled shareholders regarding this situation. Watch this space and I would encourage anyone with any further information or insights to raise them here. The statements that these guys raised at 16 cents (from memory) and then again at 3 cents on are starting to look pretty bloody murky!

[Balance]

That is a good point. I am hearing murmurs from other disgruntled shareholders regarding this situation. Watch this space and I would encourage anyone with any further information or insights to raise them here. The statements that these guys raised at 16 cents (from memory) and then again at 3 cents on are starting to look pretty bloody murky!

Going the same way as Snakk - a painful grind towards non-existent as one after another financier/shareholder gives up?

https://d2xgqyuql1olth.cloudfront.net/assets/Uploads/story_imgs/Leanne_Graham_CEO_Mark_Weldon_Chairman_-_GeopOp-low_0_1.jpeg

https://www.rnz.co.nz/news/business/226286/tech-company-geoop-makes-strong-sharemarket-debut

Shares in GeoOp, an online mobile workforce management company, made its debut on the stock exchange on Thursday at well above double the price they were sold to investors when they were initially floated.

GeoOp shares began trading at $2.38 compared with their $1 per share price in the company's $10 million capital raising.

The shares traded at between $1.90 and $2.40 on Thursday morning, before closing at $2.20 a share.

Mr Weldon says GeoOp provides the opportunity to do something innovative and global, as well as providing the fulfilment of being involved with a small company and helping it grow.

He says he's never seen such a successful debut, but he's not getting carried away because the company, which has yet to make a profit, has still got to prove itself.

[Sampan]

Certainly looks that way, Balance. I think the issue for these clowns is going to be the statements they have made and the assertions and number provided. Molloy was slipper in the AGM and never answers anything directly. He may as well leave NZ now, reputation shot

[Wiremu]

Did any GEO shareholder's log in to the AGM yesterday?

Interested to know what was said about "buyer interest in acquiring the company".

[Sideshow Bob]

https://www.nzx.com/announcements/424440

Intention to Delist from NZX Main Board

• Geo Limited is too small to continue to maintain a stock market listing
• The current NXZ listing is not providing liquidity for shareholders
• The current NZX listing is prohibitively costly and time consuming to manage
• The Board’s intention is to delist to reduce costs, save time and continue to seek buyer interest

Geo Limited (NZX.GEO) today announces its intention, subject to shareholder approval, to delist from the NZX Main Board. This proposed change forms part of an ongoing cost reduction program with the goal to achieve EBITDA profitability and cashflow breakeven within 2H FY24.

The primary rationale for delisting includes:

1. Infrequent trading and low liquidity:

While the Company has a wide shareholder base, the trading of shares is infrequent and occurs at very low volumes (i.e., the Company’s shares have very low liquidity). As such being listed on the NZX Main Board provides little benefit to shareholders from a liquidity perspective.

2. High ongoing compliance and governance costs:

Maintaining the Company’s listing on the NZX Main Board incurs substantial ongoing compliance and governance costs. These costs have increased over time, including, particularly, as corporate governance requirements and reporting have become more involved. In addition, the Company has incurred significant cost in recent years to undertake capital raisings and other transactions in compliance with the NZX Listing Rules.

As announced on 29th August 2023, and subsequently 9th November 2023, the Company announced a cost reduction program of which compliance and governance costs forms a substantial part.

Given the Company continues to operate at a loss, delisting from the NZX will reduce ongoing costs, including significant compliance and governance costs and help the Company reach a breakeven position, lessening its reliance on further capital raisings.

3. More time to focus on core business activities:

Delisting will enable management to devote more time to core business activities, as management will no longer be required to allocate significant resources to compliance activities associated with maintaining a listing on the NZX.

4. Strategic review and interest from potential buyers:

As part of the already announced strategic review GEO is actively seeking interest from potential buyers. The Board is of the view that an unlisted company may widen the pool of potential buyers and help create additional shareholder value.

Accordingly, the GEO Board considers that delisting from the NZX Main Board is in the best interest of GEO shareholders.

NZX and Shareholder Approval:

NZX Limited has approved the Company’s delisting on the following conditions:

• That the Company obtains, by way of ordinary resolution, approval from shareholders who are Non-Affiliated Shareholders to delist from the NZX Main Board;
• That NZ RegCo reviews prior to publication any delisting announcement and communication that the Company sends its financial product holders;
• That the Company pay all NZX fees; and
• That the Company provides at least one month’s notice of the delisting to the market.
The Company intends to obtain shareholder approval by way of ordinary resolution of Non-Affiliated Shareholders (essentially, shareholders with a holding less than 10%) at a General Meeting online on Tuesday, 23 January 2024 at 1pm NZT. Please refer to the Notice of Meeting dated 8 January 2024 for details including process for voting at the meeting, and the potential impacts on shareholders of the delisting. The indicative timetable is as follows:

[See table in attached PDF]

Following delisting:

NZ RegCo will no longer regulate the Company’s compliance with the Listing Rules. The Company will cease being subject to the governance and disclosure requirements of the NZX, as described in the Notice of Meeting. The Company will continue to be domiciled in New Zealand and financial product holders rights under the Companies Act 1993, Financial Markets Conduct Act 2013, and Takeovers Code will be substantially unchanged. The Board is of the view that the Company’s continuing obligations under the applicable law will provide Shareholders with sufficient transparency in the absence of the obligations applicable while listed on the NZX Main Board. This is described in more detail in the Notice of Meeting.

Upon delisting, GEO shares can no longer be publicly traded which could reduce the ability of shareholders to sell their shares. However, the Company intends to continue to use a third-party share registrar to maintain the share register, who can facilitate off-market transfers for shareholders wishing to transfer shares, warrant holders wishing to exercise warrants, and participants in GEO’s Employee Share Option Plan wishing to exercise options. The determination of share prices will be a matter for private negotiation.

Geo Chair Commentary:

Tim Molloy says: “Considering the limited benefit to shareholders versus the substantial costs associated with maintaining the NZX listing, both management and the GEO Board considers that a delisting is in the best interests of shareholders. The cost savings associated with the delisting will help the Company achieve cashflow breakeven in 2H FY24 and assist in the sale process. On behalf of the Board, I encourage all shareholders eligible to vote to support the resolution at the upcoming general meeting”.

For more information, please refer to the Notice of Meeting dated 8 January 2024.

[percy]

At 2 cents per share their market cap is just $4.4 mil.

[winner69]

At 2 cents per share their market cap is just $4.4 mil.


And accumulated losses of $44m

[Balance]

Bring back Mark Weldon!

Maybe his presence will send the sp back up to $2.00+ again!

[Sideshow Bob]

Holders getting out while they can - down 35% so far today.

Mind you, that means the SP went from 2c to 1.3c......;)

[percy]

Holders getting out while they can - down 35% so far today.

Mind you, that means the SP went from 2c to 1.3c......;)

Looks as though James Bond is a buyer at.007.

[winner69]

Bring back Mark Weldon!

Maybe his presence will send the sp back up to $2.00+ again!


Holders getting out while they can - down 35% so far today.

Mind you, that means the SP went from 2c to 1.3c......;)

Could be missing out on 5 cents …one day

[nztx]

A bit of attrition happening on NZX boards

MHM soon to disappear into private offshore ownership and now this one
Geo-ffing into the haze too, with any ability for market trading to disappear,
similar position to those who got QEXed over badly

What will NZX do to fill the gaps ? More ETFs & Funds ? but alas dont they need listings
somewhere to base their values on ?

[winner69]

Bring back Mark Weldon!

Maybe his presence will send the sp back up to $2.00+ again!

Mark’s presence hasn’t helped to date!

[nztx]

Mark’s presence hasn’t helped to date!


A bit of Well Done Over happening instead ? ;)

[Davexl]

A bit of attrition happening on NZX boards

MHM soon to disappear into private offshore ownership and now this one
Geo-ffing into the haze too, with any ability for market trading to disappear,
similar position to those who got QEXed over badly

What will NZX do to fill the gaps ? More ETFs & Funds ? but alas dont they need listings
somewhere to base their values on ?

While briefly chatting about NZX attrition have noted the following:

Cumulative Numbers - YTD


Number of trades
Total value traded
% of value on-market
9,038,164
$33,802 m
61.5%
-22.6
-9.7% -3.5%




22.6% down in number of trades, especially while % of on-market is going up,
NZX looks like a fast dying exchange to me - very concerning...
Don't know about prior years.

[Sideshow Bob]

While briefly chatting about NZX attrition have noted the following:

Cumulative Numbers - YTD


Number of trades
Total value traded
% of value on-market
9,038,164
$33,802 m
61.5%
-22.6
-9.7% -3.5%



22.6% down in number of trades, especially while % of on-market is going up,
NZX looks like a fast dying exchange to me - very concerning...
Don't know about prior years.

Probably a good one for the NZX company thread.

I would have thought the number of trades would have been higher with the likes of Sharesies.

But agree, it is very concerning......

Who is the next listing? Where is it coming from? Anyone graduating off the USX?? How many NZ companies have listed on the ASX in recent years rather than the NZX?

Yeah nah.

[mushroom]

We’re getting in touch to let you know Geo Limited (GEO) is intending to delist (be removed) from the New Zealand Stock Exchange (NZX) on 12 February 2024 pending shareholder approval on the 23rd of January 2024. For more info, you can read GEO’s announcement (https://www.nzx.com/announcements/424440), or check out our Learn article about delistings (https://www.sharesies.nz/learn/what-happens-when-a-company-delists).

[winner69]

Well the capital raise was grossly over subscribed.
I guess we could say it was a huge success.
Pity I received 12.13225% of the shares I applied for,ie 18,665 shares or $2426.45 worth for the $20,000 I applied for.
I have often posted I do not like SPP Share Purchase Plans,and this confirms the reason why.

You still got these 18,665 shares

Just clicked somewhere on page by mistake and this post popped up ..lol

[percy]

You still got these 18,665 shares

Just clicked somewhere on page by mistake and this post popped up ..lol

Yes.In wife's a/c.
Sold her head shares when they went ex entitlement.

[mr optimistic]

That Rod Snodgrass fella is leaving a trail of failures he is a director from including GEO, Vital and Eqalis. Classic professional director that is smooth with the words having come from a corp background but risks nothing, they never really gets their hands dirty because the director handbook says they need to be independent. I blame these types for the failure of listed companies on the NZX. What do they really provide to the business and the shareholders. You'd be better to invite a Chatbox AI virtual director to join your board and invest the saving into marketing.