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LightwaveRF – “Google Assistant voice control” ramparoonie

By Steve Moore | Thursday 18 May 2017

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.

Shares in LightwaveRF (LWRF) are currently circa 65% higher on the day, above 25p, on the back of a “Launch of Google Assistant voice control”-entitled ramparoonie (Oops) RNS announcement.

The use of “Google” in the announcement title, and then description in the announcement that Lightwave “has been working closely with Google to achieve Google Assistant voice control for the LightwaveRF product range” and of “featured at Google I/O, the annual worldwide developer festival being held this week in Mountain View, California” suggests the significance and scale required for a stockmarket ramparoonie. However, no financial indications are included (natch) and it is admitted that the company is amongst a “group” of smart home partners for Google Home. Quite.

Meanwhile, I note results for Lightwave’s year ended 30th September 2016 showed, on reduced revenue of £1.4 million and despite £0.2 million of new equity, a more than £1 million swing to a £1 million net debt position, with the net tangible position also seeing a more than £1 million swing to minus £1 million.

A further net £2.2 million has since been raised and the company last month updated positively on revenue, but added “after the planned increases in development and marketing spend, the loss for the first half is expected to be about the same as the equivalent period last year. We are also continuing the capital investment in our cloud platform”.

Thus, despite also emphasising “our newly appointed CEO, Andrew Pearson, has made good progress so far in re-focusing the company”, it clearly currently remains cash burn ahoy. A further assessment should be able to be made tomorrow – as the April AGM statement also included “the company will provide a further update when it issues its interim results for the six months ended 31 March 2017, which it expects to release on Friday 19 May 2017”. For now though, this remains on the bargepole list.

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