Market's view on Mobile Streams
Published on April 2024
- The company’s need for additional cash is evident as a previous attempt to raise £2 million for a new venture and working capital in November was not fully successful.
- Concerns are raised about the company’s financial sustainability, with predictions of either needing more funds to sustain operations or facing potential bankruptcy before the year’s end.
- The sale of over 1% of company shares at an all-time low price indicates severe issues, being 50% below the insider’s placing price.
- Estadio, a startup venture by the company, is viewed as a significant cash drain with only minimal sales recorded from recent digital asset drops.
- Doubts are cast on the effectiveness of the company’s board appointments, citing instances of poor decision-making and a lack of substantial contribution to the company’s progress.
- The agreement details involving Atlante include a target revenue over five years, with modest revenue guarantees contingent on achieving yearly targets. Concerns are voiced over whether the worst-case scenario in the contract has already been realised.
- NFT initiatives by the company, including partnerships with Bitso and releases of iconic moments and sports team NFTs, have been underwhelming in performance with minimal sales and engagement.
- The company’s status on the AIM market is questioned, with suggestions that it might need to consider alternatives due to the current unattractive conditions and poor performance.