Aferian – hopefully my prior warnings were heeded as now (more than) all its money’s gone…

Most recently on Aferian plc (AFRN), last month I noted that a banking facilities extension had been required to enable the company to continue exploring a sale didn’t bode well for the company’s negotiating position and that hopefully my prior warnings were heeded and, natch, still avoid/sell. Hopefully my warnings were indeed heeded as now there’s “Intention to appoint Administrators” and shares suspension announcements from the company.

Aferian (#AFRN) – shares suspension as a “proposed sale” to mean no return for shareholders, you were warned here!

Aferian – “Extension of Senior Banking Facilities”, BUT…

Most recently on B2B video streaming products and services company Aferian (AFRN), last year with the shares up to 4.3p I noted the balance sheet looked to be needed to be bailed out and to continue to avoid. The shares most recently closed at just 0.45p and what about now an “Extension of Senior Banking Facilities and Update” announcement?

Aferian (#AFRN) – further banking facilities extension “to enable the company to continue exploring both a sale of its Amino and 24i businesses and a sale of the company”

Aferian (#AFRN) – “Trading Update” notes revenue growth but also upcoming maturing debt facilities

Aferian – argues “significantly improved financial performance”, but what does its swing in “adjusted EBITDA” actually mean for the bottom-line?…

B2B video streaming products and services company Aferian (AFRN) has announced “strong trading momentum… and the benefits of the cost restructuring implemented in the twelve months ended 30 November 2024… expect this level of profitability to continue into H2”. How “strong” though is the trading momentum relative to the shares currently more than 13% higher at 4.3p?

Aferian (#AFRN) – emphasises trading improvement, but notes “adjusted EBITDA” and “remains in discussions to refinance its lending facilities”

Aferian – “Trading Update”, now why may it be “immediate effect” new broker appointment?

B2B video streaming technology company Aferian (AFRN) has issued a “Trading Update and Change of Adviser” announcement including that it expects “second half revenue growth of c13% compared to H1… adjusted EBITDA in H2 FY24 of c$2.0 million compared to an adjusted EBITDA loss of $2.4 million in H1… As a result of new customer wins and an increase in sales orders in the second half of 2024, we expect this strong momentum to continue into 2025”. What of this and a current share price response up to 4p?

Aferian (#AFRN) – argues “progress” including $2.4m net debt reduction but it still $12.5m, appointment of Zeus Capital as Nomad and broker

Aferian – emphasises trading improvement and “well-positioned”, but how much so really?…

Albeit having slumped from as recently as earlier this year above 12p, shares in B2B video streaming technology company Aferian (AFRN) have currently approximately doubled to around 6.5p today on the back of a “trading statement” including that consumer demand for video streaming experience improvements has helped expected second half of its year revenue to approximately 20% higher than in the first half and, together with cost reduction actions taken, that second half adjusted EBITDA is expected to be “approximately $2 million”. How good is this news?

Aferian (#AFRN) – notes H2 revenue improvement, “continue to expect a reduction to net debt by year-end”

Aferian – interims emphasise “management actions” and expected net debt reduction, but still how stable is the financial platform?

B2B video streaming technology company Aferian (AFRN) has announced results for its half-year ended 31st May 2024 including emphasising “management actions to further reduce the group's cost base… Net debt is expected to reduce by approximately $1 million by year end”. What about this from a current 4.5p share price, £5 million market capitalisation?

Aferian – full-year results, “a stable financial platform on which the group can move forward”. Er, really?…

B2B video streaming technology company Aferian (AFRN) has announced results for its year ended 30th November 2023 including that “the extension of the group's loan facilities provides a stable financial platform on which the group can move forward”. So what of a current 18% lower share price response towards 5p?

Aferian – “positioned… on the strongest possible foundation for the future”. Er, what about the trading warning, maturing banking facility & upcoming lack of CEO?!

B2B video streaming technology company Aferian (AFRN) has issued “Trading Update” and “Board Change” announcements, including Chairman Mark Wells stating “our 24i video streaming business has made good progress this quarter and I am confident that the timely management actions taken in the last twelve months have positioned the group on the strongest possible foundation for the future”. So what of a share price currently 30% lower to below 9p in response?

Aferian (#AFRN) – “further deterioration in the trading of the Amino business”, “in advanced discussions with its lenders”

Aferian – interims, how confident to really be in the full year outturn here?...

Previously writing on B2B video streaming technology company Aferian (AFRN), last week with the shares at 13p I asked 'helps to power new Virgin Media channels’ announcement attempted ramptastic ahead of half-year results financial reality?. Today the company has announced results for this period ended 31st May 2023, with headlines including “improving quality of group earnings and enhanced revenue visibility” and “confident in full year outturn with high percentage of contracted revenue and a well-developed pipeline”. So what of a current 12.5p share price?

Aferian – 'helps to power new Virgin Media channels’, but ramptastic?…

B2B video streaming technology company Aferian (AFRN) has announced the use of its 24i integrated solution to launch and monetise a new line-up of free ad-supported streaming tv channels on Virgin TV. What of a current share price response here up by 4% to 13p?

Aferian – bailout placing to “provide adequate headroom over the group's banking covenants”. Er, still does it?

B2B video streaming technology company Aferian (AFRN) states that it is “pleased to announce the successful completion of the placing… raising gross proceeds of approximately US$4.0 million. The placing price of 12 pence per share represents a premium of approximately 20.0 per cent. to the closing middle market share price of 10 pence per share on 24 July 2023”. Good news then?

Aferian (#AFRN) – £3.12m ($4m) placing at 12p per share

Aferian – “trading statement”. Er, what about the ‘intention to seek alternative funding’ by the end of July?!

Previously writing on “B2B video streaming solutions company” Aferian (AFRN) last month with the shares just above 17p I wrote “additional cash funding… gives us adequate headroom over our covenants”. Er, is there and does it?!, concluding in the continued challenging wider macro-economic situation currently still avoid/sell. Now a “Trading Statement”, and the shares currently down to 11.5p…