The story of Blinkx (BLNX) in the recent past, has been a story of bear attacks that not only took a bite out of the market capitalisation, but kept on sticking the knife in.
blinkx plc (BLNX) has announced results for its year ended 31st March 2015 which it describes as “comfortably in line with guidance, despite significant changes in the industry”. Congratulations. Oh wait… a pre-tax loss of $24.80 million on revenue of $215 million, down from a profit of $17.61 million on revenue of $247.2 million in the prior year! Was that really what management were aiming for as they announced the prior year’s results?...
Once again Professor Ben Edelman nailed the awful business practices of blinkx (BLNX) at the Uk Investor show. The Web Sheriff was on gine form as the video below demonstrates.
Ben Edelman promised new material on blinkx (BLNX) at the 2015 UK Investor show and he did not disappoint. I am working hard to get the full video of the Web Sheriff up as soon as possible but it is pretty explosive stuff.
Today’s trading statement from blinkx (BLNX) must be making even Roger Lawson from ShareSoc splutter into his cornflakes as it is truly dire. No wonder that the shares, 90p a year ago as Lawson said the bears did not know what they were talking about, are just 28.5p and falling. And worse is to come for this POS as a 100% vindicated Ben Edelman will be having another go at www.UKInvestorshow.com on April 18 in Westminster.
We flagged up early yesterday that a change of auditor is always worth looking into especially when the firm is one link blinkx (BLNX) which has issued profits warnings, attacked its critics with lawyer’s letters and was spun out of Autonomy whose accounts have been questioned a tad. And thus hat tip to Tempress for pointing this out picking up a very perceptive post on ADVFN. Over to temptress
I have not picked a fight with anyone for a week or so but as its my Birthday tomorrow I thought I’d treat myself and have a go at Roger Lawson from ShareSoc as he has written a piece today that is mean spirited in omission if not content. Journalists like fights and I have been goaded.
Oh coooeeee! blinkx (BLNX) and your bully boy lawyers – make sure you have pencilled in April 18 into your diary because Ben is coming back and he has more to say. Oh yes… it is time for round 2 with the Web Sheriff and we all know who won last time don’t we?
I look at the past year, at Ben Edelman, today's acquisition (AdKarma), the way blinkx (BLNX) presents numbers, cashflows and valuation in this podcast special
From the FCA's spreadsheet of short positions required to be disclosed to it, the following details changes to net short positions in the last week (red if short increased, green if reduced)...
The latest results statement from blinkx plc (BLNX) emphasises “a transformational period” and that “the company remained profitable on an adjusted EBITDA basis and delivered over $100 million in revenue during the period”. Sounds great, but au contraire…
I previously updated on internet media company blinkx plc (BLNX) a month ago concluding, at 31.75p, that the shares looked a speculation on the company’s ability to deliver a sustainable cash generative recovery, rather than a solid, value investment - see HERE. Currently at 29p, today released interim numbers support that view (as summarised below, red highlighting key negative factors, green key positive contributors), with further analysis to follow. There a lot of red ink here as befits a company that tried to bully the Sheriff of AIM with lawyers letters. That tells you everything.
Internet media company blinkx plc (BLNX) has announced that Richard Griffiths (a former director of Evolution Group, which would progress to the FTSE-250, and well known smaller companies investor) has increased his interest in the company’s shares to 4.62% of the issued share capital. This follows an increase to a 3.50% interest a few weeks before the earlier-this-month profit warning which saw the shares fall from more than 35p to briefly sub 30p. With them currently at 31.75p, is Griffiths’ latest move a wiser one?
Having consistently warned on the dangers of the valuation of blinkx plc (BLNX) since the shares were 93p in April 2013 – previously updating last month that at 43p precious little forward visibility meant being long continued to look more speculation than investment – the following updates on a further profit warning today which has sent the shares down to around 30p.
