By Steve Moore | Friday 7 July 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.
LightwaveRF (LWRF) “is delighted to announce that its next generation Lightwave Link Plus has been certified under Apple's licensing scheme as a ‘Works with Apple HomeKit’ product”. Ooooh, Apple hey. Cue a further share price rise, but what’s actually happening here?
The company states that its “Link Plus connects to a standard WiFi router and controls the integrated LightwaveRF smart home system for lighting, heating, power and security. This manages Lightwave end-point devices through both Apple Home and LightwaveRF apps and via voice control”.
Er, ok. No financial information is provided, with CEO Andrew Pearson instead emphasising “together with our new cloud platform capabilities, energy consumption analytics and voice control Lightwave Link Plus is a significant new development for the company. Lightwave Link Plus and our new range of lighting and power devices will launch later this year”. Ah, so the subject of this “delighted to announce” is yet to launch!
I previously updated on half-year results from the company, with those showing continued cash burn and the balance sheet also not suggesting the strongest of positions for “there remains much work to do and additional investment to make”.
As such announcements such as this latest, currently see me question discounted fundraising ahoy? I look forward to some more financial information being announced, but ahead of that currently retain this on the bargepole list.
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