GEO - GeoOP - Work Management Software

[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!