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ARTICLE

If you cant do, teach: Philip Letts of Blur infamy goes into executive coaching

2020-06-28 10:07:20

Blur Group (BLUR) floated at 82p and half a decade and a name change later delisted from the AIM casino at 0.23p. In its five years of AIM casino infamy led by CEO Philipl Letts and his ghastly Mrs, Kara Cardinale, who was the Chief Delivery Officer, it was slammed by the FRC for dodgy accounting, had numerous lack of profits warnings and bailout placings and was a case study in value destruction. As a reminder here is the track record during Letts' tenure as CEO: 

NEWSFLOW ARTICLE

blur Group – shares rise post results and ANOTHER placing justified? Er…

2017-09-26 00:17:10

Having risen from just above 4p to 5p last week post announcements, including results for the first half of 2017, shares in blur Group (BLUR) are now again retreating…

NEWSFLOW NEWSFLOW ARTICLE

Is the post Letts bounce in blur justified? Nope - at last Roger Lawson is 100% right

2017-08-04 01:09:24

On Monday evening we were treated to the shock news that blur (BLUR) founder Phil Letts had been given the order of the boot just 18 days after his ghastly Mrs Kara Cardinale was also handed a P45 and a black bin liner. While the two of them relax at their luxury Devon Estate, shares in blur have enjoyed a relief rally to 4.75p ( now just 98.5% off their peak) but is that share price spike justified. Like hell it is.

ARTICLE

Blur fires its founder & CEO Phil Letts, 18 days after sacking his ghastly Mrs - but where are the shareholders' Mansions?

2017-08-02 01:44:16

At 7 AM yesterday AIM uber dog Blur (BLUR) announced its god-awful results. At 8 AM after a bailout placing had been approved its shares came out of suspension. In the 7 AM results statement CEO Phil Letts noted "I welcome the new board members to blur and look forward to working with them." It seems the feeling was not mutual. By 5.32 PM Blur was announcing that Letts was leaving. Make no mistake, he was fired.

NEWSFLOW ARTICLE

blur Group – “pleased to announce” (late) results. It shouldn’t be…

2017-08-01 06:40:23

Following it having missed the six month deadline for full-year accounts publication (as, pending the securing of funding, it was “unable to sign-off the audit”) – and the shares resultantly having been suspended, blur Group (BLUR) now “is pleased to announce its audited final results for the year ended 31 December 2016”. Hmmm, “pleased” hey?…

NEWSFLOW NEWSFLOW ARTICLE

blur Group – board changes, but can prospects be changed?

2017-07-12 06:59:56

Having at the end of last week announced a conditional, bailout (and thus dilution-extraordinaire – a gross £1.75 million at 1.75p per share) placing, blur Group (BLUR) has now announced immediate effect “Board Restructuring”

ARTICLE

Photo Article: Blur Minus 98% - where are our Devon mansions Phil Letts and your ghastly Mrs Kara?

2017-07-07 01:07:19

Blur (BLUR) was floated at 82p. Today after five years of accounting fraud, operational failure and cash guzzling it is doing another bailout placing at just 1.75p so leaving its long suffering shareholders 98% down. As part of today's bailout a number of directors have "been resigned" including Kara Cardinale, hithero paid an arm and a leg as Chief Delivery Officer. Chief what the fuck???

NEWSFLOW ARTICLE

Blur Group – significant shareholder selling following Friday’s A-Grade corporate horse spouting

2017-06-27 00:12:15

“Holding(s) in Company” announcement in Blur Group (BLUR) of a transaction on Friday – the day in which at 7am it released an “Update on financing, business plan and trading”

ARTICLE

Video: A song for Phil Letts and his ghastly Mrs...

2017-06-26 03:20:01

I see shares in Blur (BLUR) are tanking again. Quelle suprise - given that it could be tits up time in three weeks. Anyhow for Phil Letts and his fellow grossly overpaid director his Mrs a song to brighten up the day. Natch as I think happily to a concert way back then in a summer's evening in Mile End Park, it's by Blur...  To The End!

ARTICLE

Blur - no improvement in trade, admits could be bust in 3 weeks, A Grade corporate horse spouting

2017-06-23 00:18:46

It walks the walk and talks the talk when it comes to spouting A grade corporate horse. And so another day comes with another trading statement from the shamed and hapless Phil Letts and his worthless Blur Group (BLUR). There are KPIs aplenty and stacks of words about new business initiatives. Yadda, yadda, yadda. The main point is the admission that could be bust within three weeks. TOLD Y'ALL!

NEWSFLOW ARTICLE

blur Group – another contender for most ridiculous announcement of the year?

2017-04-06 05:40:00

Previously commenting on blur Group (BLUR) I noted CEO Letts & co excelling themselves with a leading contender for ‘Ramparoonie RNS of the Year’. We today have a “blur engaged with UK County Council” announcement. Surely not again…

ARTICLE

blur Group – CEO Letts & co excel themselves with a leading contender for ‘Ramparoonie RNS of the Year’

2017-03-07 04:53:49

Having last month failed to ignite the share price with a ramptastic “blur engaged with Top 100 UK law firm” announcement, blur Group (BLUR) has had much more success today – on the back of a “blur engaged with Global Electronics Group” announcement, the shares currently 200%+ higher at above 20p…

ARTICLE

blur Group – says “progresses on its path to profitability”, but it looks cash crunch ahoy first!

2017-02-08 07:14:49

blur Group (BLUR) has announced “key metrics for Q4 2016”, in the same opening paragraph noting “FY 2016 EBITDA is expected to be ahead of expectations”. EBITDA is of course not a ‘key metric’, but bullshit earnings. What about the real key metrics – cash generation and the balance sheet position?...

ARTICLE

Dear Blur: Excuses are like A'holes we all have them and no-one cares: the fat lady is warming up for you

2016-11-03 06:04:01

A Q3 Trading statement today from long term dog blur (BLUR) is pretty dismal and the shares have crashed another 34% to 3.375p. Putting that in context - this company listed 49 months ago at 82p and has been a dog ever since. Surely it is only a matter of time before the vet arrives with needle to put this sick puppy out of its misery.

NEWSFLOW ARTICLE

More horseshit from Phil Letts and Blur - when's the placing?

2016-10-10 06:06:44

Hello Sailor! Coooeeee - that looks really big. Are you excited yet? Oooh what an interesting release. Yes Phil Letts at Blur Group (BLUR) has again announced information which even he knows is utterly insignificant. Phil can see that his share price is drooping rapidly ahead of the next bailout placing and is desperate to get it up.

NEWSFLOW ARTICLE

blur Group – “is pleased to present” its half year results, it shouldn’t be…

2016-08-13 05:26:11

Prodigious cash-burning machine (sorry, services platform and marketplace group), blur (BLUR) “is pleased to present its unaudited interim results for the six months ended 30 June 2016”. Hmmm – this with the shares down from a start of the year 17p (and much, much higher when we first started warning) to a current little more than 7p…

ARTICLE

Blur Trading Statement - Show Me The Lack of Money: Letts Must Go

2016-07-28 00:33:05

The hapless Phil Letts, founder and CEO of disaster story Blur (BLUR) must surely know that his time - and that of his grossly overpaid Mrs - is almost up. After another dire trading statement today, There's No Other Way, as Blur used to say:

NEWSFLOW ARTICLE

blur Group – ‘Contract win’ seemingly sparks further delusion

2016-05-03 03:51:25

Perennial cash-burning machine, sorry “Enterprise Services Platform & Marketplace”, blur (BLUR) “is pleased to announce the signing of a two year contract with a FTSE 250 multi-channel retail group”. Apparently, this contract win “demonstrates that business leaders and large corporates are increasingly acknowledging the need to prioritize their unmanaged, indirect business services spend and recognize that blur's platform offers an efficient and agile solution to drive new efficiencies within indirect spend”. Hmmm…

NEWSFLOW ARTICLE

blur Quarterly Metrics Update – aka total bollocks from a cash burning Joke Company

2015-11-19 02:28:47

And boy did the grossly overpaid poltroon Phil Letts serve up a stack of metrics in this trading update. KPIs, metrics, MBA tosser jargon, it was all in there. But buried at the bottom was the cash position. Ouch. When’s the next placing Phil?

NEWSFLOW NEWSFLOW ARTICLE

More utter bollocks from Blur – when’s the cash call?

2015-08-04 05:43:50

Another day and another non-news announcement from the lamentable excuse for a company that is Blur (BLUR) – the fact is that it is hyping the shares as it is rapidly running out of cash. Anyone who has bought the shares this morning needs their head examining.

ARTICLE

Zak Mir's Bear Call Of The Day: Blur Group Downside Risk As Low As 20p

2015-05-25 06:33:28

It may be argued quite fairly that just about the last thing anyone wants to hear regarding a company on the stock market is the CFO is leaving to deal with problems related to personal bankruptcy. This doom and gloom maybe nothing to do with Blur Group, but the unfilled gap to the downside of April and subsequent dead cross sell signal between the 50 day and 20 day moving averages do not exactly cast a happy shadow on the price action currently.

ARTICLE

blur Group – the omnishambles continues

2015-05-16 00:13:38

Following another shambolic “trading update” from blur Group (BLUR) last month, the shambles has continued. You couldn’t make this stuff up…

ARTICLE

blur Group – now paid-for researcher withdraws forecasts ‘until there is more clarity’

2015-04-14 03:30:49

Since my update last week on more financial reporting woes from blur Group (BLUR), paid for research prostitute Edison has pulled its forecasts and the shares have drifted further lower to a current 53p. When even the prostitute researchers wont say anything nice you know that you are up merde creek.

ARTICLE

Blur’s Phil Letts might be a shite CEO but he does irony quite well

2015-04-13 02:38:29

Philip Letts the CEO of Blur (BLUR) is clearly pretty crap at running a PLC. The latest profits warning and brush with the FRC is just another sign why he – and his grotesquely overpaid wife – should be given the tickety tack as soon as possible. But the man is not without his talents. He does irony well.

ARTICLE

blur Group – another shambolic “trading update”, any ‘distance left to run’?

2015-04-10 05:40:12

Shares in blur Group (BLUR) currently trade a further more than 30% lower today, at around 55p, on the back of more financial reporting woes. The following updates, though don’t say I didn’t warn you – see, for example, HEREHEREHERE and HERE

ARTICLE

Tom Winnifrith Bearcast - Blur shocker special

2015-04-10 03:31:28

Today's profits warning from Blur is a shocker in every respect. It allows me to wander down memory lane to a date with Mellissa Hellberg in Mile End park, to a revised version of both Girls & Boys and Park life but also to examine this whole sorry saga from top to bottom. Warning: This podcast contains both singing and explicit language.

NEWSFLOW NEWSFLOW ARTICLE

blur Group – reasons to remain bearish as Edison updates

2015-01-19 08:10:07

Shares in provider of an online platform for the provision of services, blur Group (BLUR) have now declined to sub 50p - having been circa 730p a year ago. The following reviews post a trading update last week and now an update from Edison Investment Research.

ARTICLE

blur Group – 2014 trading update means its presentational sleight of hand time again

2015-01-15 05:03:04

Provider of an online platform for the provision of services, blur Group (BLUR) has updated that it expects to meet market consensus forecasts for the 2014 calendar year and “continues on its previously announced and planned path towards EBITDA breakeven in Q4 2015 and positive cash flow from Q1 2016”. Sounds good - until factoring in that forecasts were reduced sharply as recently as November when the company admitted that “a small number of large projects, which have been submitted to the exchange, will not kick off until early 2015, which will impact the group's revenue and therefore profitability for the full year ending 31 December 2014”. The following updates on a company which looks to be attempting presentational sleight of hand yet again.

NEWSFLOW ARTICLE ARTICLE

blur Group – don’t let more presentational sleight of hand disguise the financial visibility reality

2014-11-19 05:39:04

“Currently in line with management expectations in respect of new project bookings, ahead of plan for new and repeat enterprise projects, and ahead of its plan on costs”. Sounds good. “The group has cash resources of $20m to comfortably sustain it through to profitability and cash flow positive”. Still sounding good. “Whilst revenue growth has been strong, a small number of large projects, which have been submitted to the exchange, will not kick off until early 2015, which will impact the group's revenue and therefore profitability for the full year ending 31 December 2014”. Oh!

NEWSFLOW NEWSFLOW ARTICLE

blur Group – interim results a lesson in why ‘revenue’ and ‘earnings’ are vanity & cash flow is the reality

2014-09-09 11:05:53

blur Group (BLUR) has emphasised that, through its online ‘global services exchange’ platform, “in a year, we have quadrupled our revenue, trebled our bookings, completed a successful fundraising, kept our costs and headcount controls in line with our plan, and grown customer success through a 170% value increase from repeat customers”. All seemingly very positive, but what is the reality of the financials?

ARTICLE

blur Group – ‘a stronger foundation for growth’? Not yet

2014-07-16 10:45:07

Since my previous update on blur Group (BLUR), the shares have slipped further – to a current 75p. Having at one stage early this year reached almost 800p, some see value at current levels. But is this illusory?

ARTICLE

blur Group – no longer ‘reinventing commerce’, but reinventing a “trading update”?

2014-07-09 16:55:35

AIM Listed blur Group (BLUR), the company whose RNS announcements used to declare that it was “reinventing commerce at blurgroup.com” but now a touch less grandiosely state that it “operates the market leading, cloud-based platform for s-commerce”, has updated that “project bookings for the first half of 2014 have increased by more than 200% year-on-year to $16.04m (H1 2013: $5.2m)”. The following reviews with the shares having nudged a couple of percent higher to 79.5p on the "trading update", with reporting woes earlier this year having brought them down from at one stage approaching 800p.

ARTICLE

Accounting services all above board? Blur Group does Irony Very well

2014-07-07 07:45:30

An FD of an AIM listed company has passed me the following email entitled “Accounting services all above board” sent by Dorothy from blur Group (BLUR). My mind is boggling does this company do irony. Followers of Blur will remember that within the past three months it has been forced to admit that its revenue recognition policies were all over the shop and to stage a rescue bailout.

ARTICLE

blur Group plc – unjustified ‘delight’ at fundraising result

2014-06-11 11:13:59

Shares in business services marketplace operator in the ‘cloud’, blur Group plc (BLUR) are currently little changed at around 90p on the back of the results of a fundraising, which saw the company’s CEO Philip Letts “delighted by the broad support shown by so many of our shareholders… including members of the board”. But should delight also be felt by other shareholders here?

ARTICLE

blur Group – do a positive house broker & director share purchases change my stance?

2014-06-03 11:29:07

Post a latest share price crash on its announcing of a fundraising and delayed results for the 2013 calendar year last month, shares in online business services marketplace provider blur Group (BLUR) have recovered somewhat following an upbeat note from its house broker, N+1 Singer, and some director share buying. Should you follow them? Er....

ARTICLE

blur – what a dog, even the house broker not forecasting free cashflow yet

2014-05-23 13:00:12

blur (BLUR) has been bailed out by a hugely discounted fund raise today at just 75p. Existing investors face 37% dilution but even assuming the maximum $20 million is raised this dog with fleas is not out of the woods yet as the note just out from the broker that organised this placing (N+1 Singer) makes painfully clear.

ARTICLE

blur Group – fundraising and results enough to change bearish view?

2014-05-23 12:50:02

Shares in online business services marketplace provider blur Group (BLUR) currently trade 22% lower today, at 82p, following its announcement of a fundraising and delayed results for the 2013 calendar year. With Ben Turney already having reviewed the former HERE, I now take a look at the results.

ARTICLE

Placement Watch: Bluuuuuurrrrrrr Group - shocking price, hard to stomach

2014-05-23 09:37:48

Shareholders in Blur group (BLUR) woke up to a nasty shock this morning. 37% of the company has been sold in a placement, at 75p a share. It is staggering to think that Blur Group peaked at 820p, only four months ago. Reminiscent of the DotCom collapse, fourteen years ago, these sort of wipeouts just shouldn't happen. But when people get sucked into rampant, speculative hype and good old fashioned valuation methods get thrown out of the window, is it any surprise that so many get scorched fingers? 

ARTICLE

blur Group - a second ghastly warning, change name to 'The Damned'?

2014-05-12 16:57:14

Shares in the AIM company which grandiosely describes itself as reinventing how businesses do commerce, blur Group plc (BLUR), slumped another 44% yesterday to 155p as it served up a second disappointing trading statement within a month. Time to change the name, while continuing the pop theme, from blur to 'The Damned'?

ARTICLE

Exclusive: Evil Knievil goes short of Blur – reopens Quindell short

2014-05-01 15:17:15

No not the pop group, but the AIM listed tech stock whose shares have already collapsed by 50% after certain issues with revenue recognition came to light.

ARTICLE

blur Group plc – purportedly “reinventing commerce”, but not reinventing how stock market valuations work

2014-04-30 06:31:25

blur Group (BLUR) has announced it has launched a latest version of its ‘Global Services Exchange’ to help “attract more enterprise-class customers”. The following reviews with the shares more than 2% lower in a rising market yesterday despite the RNS, and, at 240p, 47% lower than they traded immediately before an announcement earlier this month that the company was to take “a more conservative view of project revenue recognition”.

ARTICLE

blur Group plc – another reminder that great valuations = great investor disappointment on expectations not being met

2014-04-17 11:44:14

In a piece looking at lessons which could be learned from the approaching 40% share price decline of ASOS plc in less than 7 weeks, I noted that ‘great valuations tend to lead to great investor disappointment if expectations are not met’ and was reminded of this again when seeing shares in another tech ‘darling’ stock, blur Group (BLUR) currently down more than 33% today. The following reviews.

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