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By Steve Moore | Thursday 6 September 2018
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.
In May I warned on shares in Brave Bison (BBSN) at 3.55p; shares in loss-maker soar on RNS Reach ramparoonie, with a new broker recently appointed. Hmmm!. They closed yesterday at 1.5p, but are currently again heading towards 3p on the back of another RNS Reach!...
This is that the company “has agreed a distribution partnership with Chinese conglomerate Tencent Holdings Limited… Brave Bison will be supplying Tencent with licensed video content from Western-based creators suitable for the Chinese audience, opening up a previously inaccessible market for many content creators. Launching with six channels and over 25 videos on the platform across multiple genres from Supercars to Parkour, Brave Bison will regularly upload new content as Tencent's platforms grow”.
However, whilst no financials are included, “Tencent… one of the world's largest internet companies” and “the partnership will give Brave Bison access to over 1.5 billion Chinese viewers” is. A great ramptastic recipe then!
Of course though, if this was expected to make a near-term material financial impact it would have been a formal RNS rather than a non-regulatory, general news, RNS Reach. Meanwhile, half-year results showed a £0.65 million decline in cash (net) to £4.17 million, net current assets of £3.01 million and included “investment in strategic initiatives will result in further cash outflows in the second half of 2018, funded out of existing cash reserves”.
That would see me remain cautious anyway – but with also this latest ramparoonie, it’s certainly again bargepole ahoy; sell.
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