From £6.99 per month
ShareProphets
The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares

MINDING THE LSE’S BUSINESS

Join for as low as £6.99 per month

With ShareProphets’ membership, you receive:

• All premium articles

• Tom Winnifrith’s Bearcast

• Access to all the entire nearly 10 year archive

• ShareProphets Daily Newsletter

7digital Group – I having previously suggested results won’t be pretty & financial distress... “Business Update”…

By Steve Moore | Tuesday 9 April 2019


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Previously writing on self-styled “global leader in B2B end-to-end digital music solutions” 7digital (7DIG) in January it was “pleased to confirm” restructuring completion… but much it shouldn’t be pleased to confirm! – as the shares slumped below 1p… and still I concluded, I suggest “a detailed statement of the expected out-turn for 2018 once accounting issues related to the restructuring and revenue recognition under IFRS 15 have been resolved” won’t be pretty. That there’s the restructuring with “several operations and offices have been closed or discontinued and staff numbers reduced in all locations” and the HMRC situation of circa £0.417 million seemingly relying on expected receipts, also suggest financial distress – and hopefully my prior warnings were heeded. Natch, still a sell / avoid. Now a“Business Update”

You must be a registered member to read this story
ShareProphets is reader-supported journalism

Join us for free and gain access to three articles per month

Or become a member starting at £6.99 per month for all articles, the Bearcast, and our seven year archive.


Filed under:



Subscribe to our newsletter

Daily digest of our latest stories.



Search ShareProphets

Market News

Complete Coverage

Recent Comments

That Was the Week that Was

 

ANP

Anpario – a recovery Buy?...

Thursday »

Cat_Fixing_Lightbulb

Bearcast issue update: all should be well

 

ORCP

Oracle Power: Cynical Foul

Time left: 10:38:50