Glad when we spun Wynyard off, Craig Richardson headed off into the bright lights with it to be honest
(disc: I disclosed this when it IPO'd)
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Glad when we spun Wynyard off, Craig Richardson headed off into the bright lights with it to be honest
(disc: I disclosed this when it IPO'd)
Real-time information from the NBR…
Attachment 7904
This has turned into a bit of a fiasco, hoping for the shareholders sake that the company reduces all the excess fat and focuses on delivering their solution and increase revenue substantially. Directors need to be accountable here.
To me, the current price looks very cheap IF, and that is a big IF, the revenue forecasts are correct. The question is how does this current cash crisis effect the ability to close deals. If you are a government looking to sign up to a 3 year, multimillion dollar deal, wouldn't this scare you off?
Would have loved a big investor to have said, we dont need to underwrite this offer as we will be buying any that aren't taken up anyway.
From NBR - http://www.nbr.co.nz/article/will-be...eo-th-p-185329
This will be the last time, says Wynyard CEO. No more capital required after this rights issue; profits to flow in 2017.
Interesting article, and Craig comes across well in it. Would be interested in others take on the article.
Hi Bilbo, is it possible to screenshot or copy the article for those that don't have access as link only takes us to the headline? Many thanks if you can.
I find what he says hard to believe.
Our strategy of targeting larger contracts is proving successful and we now have a qualified FY16 pipeline which exceeds $90 million and our average deal size has increased significantly. WYN announcement yesterday.
See the word qualified in the announcement, I think that is all investors need to read. This $90mil is a figure of hope.
At its results announcement on Tuesday Wynyard said the agreement had been reached in December but it had that day learned $14.3m of revenue could not be booked for 2015 because end user agreements could not be confirmed as of December 31.
Tim, it is end-February; two months since end-December when the agreement was reached. Can Richardson confirm that the $14.3 million has been booked in or is he waiting for an angel?
Can he indicate what amount of revenue ($ terms) is he expecting/forecasting for the first six months to end-June, 2016?
He is an accountant, a chartered one it seems, and he hasn't heard of cash flow management. It is a shame. A layman knows better.
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by Tim Hunter - National Business Review 41 minutes ago in reply to mahesh muthu
Thanks for your comment. I asked Mr Richardson about this. He said the $14.3m would be booked as revenue in 2016 and would also be received as cash during the year. The company has not specified a half-year revenue figure as far as I am aware, but it said yesterday it expects $90m of revenue for FY16