Defenx (#DFX) – cancellation of AIM listing

Defenx (#DFX) – proposing AIM cancellation, updates on minority shareholders ‘Exit Opportunity’

Defenx – after not bothering with audit delay explanation & then the same with proposed AIM cancellation, now…

Previously writing on Defenx (DFX), I noted after the previous not bothering to provide an explanation as to why an audit had not been able to be finalised in six months, now it doesn’t bother, in this latest announcement, to provide even a summary as to why it is to seek AIM cancellation – stating it “intends to publish a circular, during November 2019, detailing the cancellation and convening a general meeting of its shareholders to approve the cancellation to take place in December 2019 / January 2020”. Now an “Update re proposed cancellation”…

Defenx (#DFX) – proposed AIM cancellation update as “continues to work to finalise a circular”, €0.25m loan facility

Defenx – how well did those talks with “a number” of Nomads go then? Another AIM IPO roll-call of shame…

Almost straight away on its 148p per share December 2015 AIM IPO, Tom Winnifrith concluded on security software company Defenx (DFX) shocking greed and a crap investment. I first wrote on it in 2017 “satisfied” with trading less than a month ago… now “materially below” profit warning, concluding already eating into those new funds, it’s got to reach the medium and long-term first! It’s thus unsurprising to see the shares currently crashing (towards 60p) and the stance; bargepole ahoy!. Most recently it was don’t investors deserve an explanation as to why an audit has not been able to be finalised in six months? and now… “Proposed cancellation of admission to AIM”…

Defenx – don’t investors deserve an explanation as to why an audit has not been able to be finalised in six months?

Previously writing on cyber-security software group Defenx (DFX), in October I reviewed “First draw down under the Convertible Loan”… but much more needed? – concluding …a current 10.5p share price and Defenx has stated “the board believes that the business will become cashflow positive during 2019”. However, on December 2015 AIM listing the company emphasised itself as “fast growing, profitable and cash generative” – and it joined at a 148p per share placing price! Certainly still on the bargepole list; sell. Now it’s been “Suspension of trading on AIM”…

Shares in AIM uber dog Defenx (#DFX) suspended as cannot get calendar 2018 accounts out

Defenx – “First draw down under the Convertible Loan”… but much more needed?

Having a few months ago been part of the AIM roll-call of results not published & suspension shame, a 12:45pm announcement of “First draw down under the Convertible Loan” from Defenx (DFX). Hmmm…

Defenx – “cashflow positive during 2019”? It’s got to even reach there first!

Previously writing on cyber-security software company Defenx (DFX) in May it was CEO didn’t seem to like it… after just 6 months! - and I noted its statement that “there can be no certainty that the net proceeds of the fundraising will be sufficient to meet the working capital requirements of the Defenx Group in returning it to profitable trading”… Now AIM “Restoration” and “Convertible Loan from BV Tech” announcements…

Defenx (#DFX) – €0.95m replacement loan from majority shareholder, convertible at 8p

Defenx (#DFX) – in “very advanced” funding discussions, currently remains suspended

Defenx (#DFX) – opportunities conversion “taking even longer”, in bailout funding discussions

Defenx – CEO didn’t seem to like it… after just 6 months!

Previously writing on Defenx (DFX) early last month I concluded ‘Current CEO Alessandro Poerio did only join in November – good luck, but I suggest there not a bargepole long enough for this stock currently. Thanks to bringing it to the market to Strand Hanson, WH Ireland and Newgate (PR)!’. Now a “Resignation of Director” announcement…

Defenx – as the discounted fundraising arrives, what’s not to like?!

In October I warned on Defenx (DFX) with the shares crashing towards 60p - “satisfied” with trading less than a month ago… now “materially below” profit warning”. Most recently, in February, it was below 20p and cash burn continues & “actively exploring funding options”, but not to worry… there’s a new “strategic plan”!. Now a Proposed Subscription and Open Offer…

Defenx (#DFX) – keep-the-lights-on £1.2m fundraise proposals at 8p

Defenx – cash burn continues & “actively exploring funding options”, but not to worry… there’s a new “strategic plan”!

Updating on cyber-security software group Defenx (DFX) towards the end of last month, apparently progress was being made under new leadership – the company having previously talked of ensuring “that profitable revenue growth is delivered in the medium and long-term”. However, its prevailing trading and financial situations saw me emphasise it’s got to reach the medium and long-term first! Today a further Trading Update…

Defenx (#DFX) – revenue materially below prior year, “refocused strategy”, “funding options under active consideration”

Defenx – ‘Trading Update’; as warned, it’s got to reach the medium and long-term first!

A previous Trading Update from cyber-security software company Defenx (DFX) was it going from “satisfied” with trading less than a month ago… now “materially below” profit warning. There’s now another Trading Update…

Defenx – “satisfied” with trading less than a month ago… now “materially below” profit warning

Less than a month ago cyber-security software group Defenx (DFX) was “pleased to announce” first half of 2017 results, including that it “is satisfied with year-to-date trading”. Today a “Trading Update” includes expected “financial results for the year to 31 December 2017 being materially below market forecasts and the board currently expects to report a loss for the full year”. Uh oh…

Defenx (#DFX) – “materially below market forecasts” profit warning