Blackbird plc (BIRD) has issued an “Improved conversion to pay & subscriber momentum”-titled announcement and the shares are currently more than 9% higher in response at 1.2p. But how material is the ‘improved conversion to pay & subscriber momentum’?
30 years without a profit. More than two decades of that on the AIM casino and Blackbird (BiRD) really is in last chance saloon. As I have noted many times before its fundamental problem is that customers do not want to pony up for its technology in a material way. For any business that is a fundamental flaw. It said in May that it had “no current plans” to raise cash but my Winnmaths tells me that it will run out if money in H1 2027. And having to do yet another bailout placing would surely demand that a head needs to roll after that May non denial denial.
Goaded by my recent comments about the state of its balance sheet, Blackbird (BIRD), the company that as it enters its 30th year is yet to ever book a profit has released what it desperately wants to be seen as a few words of comfort. Believers will, after 30 years of let downs still believe, the rest of us will not.
Having collapsed yesterday there is a tiny bounce, to 1.45p, in the Blackbird (BIRD) share price. But its looming financial crisis has not gone away. I have written to nomad Allenby
Most recently writing on video technology company Blackbird plc (BIRD), in July on a 3p per share discounted fundraising I concluded including that it would be interesting to see the half-year financial detail for how much the new funds are likely really to be for “development” and ‘commercial acceleration’ and to still avoid/sell. What of now the, argued “we have hit some important milestones”, results for the first half of the 2025 calendar year and the shares currently approaching 20% further lower, at below 2p, in response?
Describing itself as a “technology licensor, developer and seller of both the market-leading cloud native video editing platform, Blackbird and the online collaborative video editing and content creation platform, elevate.io”, two weeks ago Blackbird plc (BIRD) issued an “AGM Statement” emphasising “progress… in 2024, for the first time, the Blackbird division delivered both a positive EBITDA, c.£0.5m, and positive cash flow… Elevate.io… demand established for its offering”. So why a currently approaching 30% lower share price today?
Naturally Zak Mir does not disclose that his financially challenged firm Lift Global Ventures (LFT)is paid to promote the shares of Blackbird (BIRD), the company that is so disruptive and cutting edge that in its 28th year has yet to make a profit in any single accounting period. It is surely the ultimate AIM producer of jam tomorrow and with Zak’s kiss of death, things can only get worse. If you have seven minutes of your life to waste..
Blackbird (BIRD), a company that has lost money whilst promising jam tomorrow for more than a quarter of a century has flagged up that half calendar year results are out on 10 September. If I was a shareholder, and I am not and hope that you are not, I’d be shitting bricks.
At its AGM today, Blackbird (BIRD), the company celebrating its 27th year of losses, had a great opportunity to give us hard numbers showing how the March 23 hard launch of “disruptive” product elevate.io. was going. Waffle aplenty, hard numbers there was nowt.
After twenty-six years of being funded with other people’s money, twenty four of them as a listed company, Blackbird (BIRD), formerly Forbidden Technology (FBT) is, I suggest, sitting on more bad news.
Unlike comrade Malcolm Stacey I have never, in the life of this website, been a fan of Blackbird (BIRD), the company formally known as Forbidden Technology. But is news that chairman Andrew Bentley is to stand down a reason to sell? The answer is why did he not go earlier?
Considering itself as a “market-leading cloud video platform” company, Blackbird plc (BIRD) has announced that, following its recent placing announcement and release of its annual results, “certain members of the board (and associated family members) and the company's management have conditionally subscribed for a total of approximately £70,000 of new shares in the company”. Hmmm, how significant really is this investment?
Folks who have never run a company perhaps might not understand that changing your cost base, that is something largely achieved by sacking folks cannot be achieved just like that. By the time you have gone through a consultation process, following the letter of the law and then paid off the folks you are sacking you should assume that you will have paid out about half of your projected annual cost saving.
