Good morning, it's Paul here with the SCVR for Tuesday.

Agenda -

Cloudcall (LON:CALL) (I hold) - yet another placing! (at 81.5p)

Boohoo (LON:BOO) (I hold) - Sky News article re Leicester supply chain (again!) and investigation in USA

Dx (group) (LON:DX.) - Interim results - shares look too expensive still

French Connection (LON:FCCN) - one down, but three more enter the fray - there are now 4 interested parties discussing a possible takeover. Formal Sales Process launched today.

Card Factory (LON:CARD) - Liquidity update, from last week

Hotel Chocolat (LON:HOTC) - Interim results


Cloudcall (LON:CALL)

(I hold)

Share price: 81.5p (pre market open)
No .shares: 38.8m + 9.2m new shares = 48.0m
Market cap: £39.1m

Equity fundraising

This was announced last night, with a follow-up announcement this morning, giving the result.

This is what I posted last night in the comments section of yesterday's SCVR, which many readers probably haven't seen yet -

Cloudcall (LON:CALL) fundraising - not again!!! Checking my notes, the last comment here was on 22 Jan 2021, where I flagged that net cash had fallen to only £3.6m, and expressed my displeasure with the company's performance.

On the upside, the recruitment sector which CALL mainly serves, seems to be recovering well.

Guidance provided in today's RNS for 2021:

Additionally, the Directors are now confident in providing new guidance for the 2021 financial year (for the twelve months to 31 December 2021) and now expect to achieve revenues of £14.0 million, representing an approximate 18 per cent. increase on 2020 revenues.

Not bad, but not amazing either, considering 2020 was suppressed somewhat by covid.

Guidance for 2021 costs is also provided:

The Company is also providing guidance for 2021 operating expenditure, which is expected to be approximately £16.9 million compared to 2020 which is expected to be approximately £13.9 million (including one-time COVID-19 related savings). More details are included in section 3 below.

I'm assuming we can deduct operating expenditure from revenues (as opposed to gross profit), so that would imply a £2.9m loss in 2021.

There's strong operational gearing here, with c.80% gross margins.

Longer term guidance:

Longer term, we continue to focus on achieving monthly EBITDA breakeven by mid-2023 and £50…

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