TSK - TASK Group Holdings

[Balance]

https://www.nzx.com/files/attachments/259209.pdf

Cash of $615k as at 31 March.

Cash burn of $7m a year so company must be just about broke by now?

Capital raising to be announced shortly.

Good luck to those who believed this back door job. Trust you have your steel plate covering your vulnerable or some lube handy.

[winner69]

https://www.nzx.com/files/attachments/259209.pdf

Cash of $615k as at 31 March.

Cash burn of $7m a year so company must be just about broke by now?

Capital raising to be announced shortly.

Good luck to those who believed this back door job. Trust you have your steel plate covering your vulnerable or some lube handy.

It's hard to see much good in this report

Does 'Microsoft increased its Azure hosting fees by 22%, which is Plexure’s largest direct cost of sale.' Mean Microsoft screwed them good and proper. Minnows v big boys?

[Brain]

It looks to be a basket case. So the question is why did Samsung sign up a contract with this outfit?

[Subway]

It looks to be a basket case. So the question is why did Samsung sign up a contract with this outfit?

Because for Samsung their deal is literally a drop in the bucket/a rounding error? They can afford to throw money away to test ideas/concepts, even if the company in question is a ponzi scheme

[Cobber]

It's hard to see much good in this report

Does 'Microsoft increased its Azure hosting fees by 22%, which is Plexure’s largest direct cost of sale.' Mean Microsoft screwed them good and proper. Minnows v big boys?

Never trust a 'softie'. Microsoft is now going to take back all the money they gave them and then some.

Things wouldn't be quite as bad had they :

1. Not rebranded.
2. Moved to San Fran.
3. Boot strapped the business.

Pity because the software did look pretty cool. Instead of planning to run a marathon.... they exhausted themselves after 400m.

[Baa_Baa]

Bloody disappointing, regardless of the downramping backdooring cynical ill informed speculation and provocative comments, the numbers suck big time in every area. PLX reverted to a spec trading stock a long time ago, sadly, especially as it's a long time between paydays.

[Absolute144]

Never trust a 'softie'. Microsoft is now going to take back all the money they gave them and then some.

Things wouldn't be quite as bad had they :

1. Not rebranded.
2. Moved to San Fran.
3. Boot strapped the business.

Pity because the software did look pretty cool. Instead of planning to run a marathon.... they exhausted themselves after 400m.

Yeah, I think that rebranding was a dumb idea. I see it 4 times in my government department as well. Ridiculous.

[Balance]

Bloody disappointing, regardless of the downramping backdooring cynical ill informed speculation and provocative comments, the numbers suck big time in every area. PLX reverted to a spec trading stock a long time ago, sadly, especially as it's a long time between paydays.

Proof is in the eating - who is right and who is wrong about this backdoor job?

Millions of dollars have been made - just not for the investors.

Tragic, isn't it?

Another one to add to the list of successful (to the promoters) backdoor jobs - Plus SMS, CER, Snakk etc etc

[Vish]

SP is taking a hammering! 10c! Not trusting the NZ tech/sw sector, many failed ventures after the success of XRO. Seems like no one can replicate their success.

[mikeybycrikey]

Two weeks ago I commented about how either complete collapse or some amount of success were both likely outcomes for Plexure given the complete lack of information provided to investors in the past few months.

Now with the disappointing full-year result and its reception by the market, it looks like complete collapse is more likely than not at this stage. Admittedly, I think the result was not much worse than I was expecting, and they are actually telling you what their expenses are now which is a nice change. (previously "Other Operating expenses" was the second biggest expense category)

Over the past two or three years while I've been watching this company they have had quite a number capital raises. Was it something like 6 seperate raises last year? They sold their dream to investors, one small piece at a time. Looking back, the part that was missing was how they were going to reach that dream financially.

Revenue has grown slowly, but at $7M per year it's dwarfed by expenses of $13M, with no information on how this huge gap is to be bridged.

They have been teetering on the edge of collapse for years but have only ever raised enough to keep the lights on for a few more months.

Instead of raising maybe $10M at once and providing a real plan towards profitability, which they could've done two years ago with the SP at 0.40, they have spent though all of their cash and are now virtually bankrupt. Again.

Is this a company built to sell "digital insights" to companies or is it a capital raising slush fund built to fund Scott Bradley's move to San Francisco? It feels a lot like the latter right now.