TSK - TASK Group Holdings

[whatsup]

Done and dusted Im picking .

[Ggcc]

Done and dusted Im picking .
Very few voted against or abstained. Capital raise was heavily Over subscribed by both institutional investors and personal investors.

[winner69]

We need to thank Dan for getting us out the proverbial …..at least we can hopefully look forward to a bright future rather than being dragged through the mire for years

Has Chairman indicated when he’s on his bike

[hardt]

Good to hear Dan talk to the product, I thoroughly appreciate the ground up knowledge a developer, CEO brings to the table.

[tango]

We need to thank Dan for getting us out the proverbial …..at least we can hopefully look forward to a bright future rather than being dragged through the mire for years

Has Chairman indicated when he’s on his bike

Agreed on all counts. No word from the chair. IMO he’s not of the calibre we need going forward.

I sold most of my shares and only have 15,000 now so I guess I won’t get much in the oversubscribed SPP but I will very likely grab more shares at a later date.

As sb9 would say Dan’s the man

Presumably in Auckland MIQ now to come meet his new team and can pop open some bubbly and celebrate his expanded role??? He must be a miracle worker to get an MIQ spot!

[steveb]

It seems dan and his family are going to have a great deal of flesh in the game.(did I hear right a2 year escrow?)

This gives me a lot of confidence going forward,Market seems to like it up nearly 5%

[sb9]

Agreed on all counts. No word from the chair. IMO he’s not of the calibre we need going forward.

I sold most of my shares and only have 15,000 now so I guess I won’t get much in the oversubscribed SPP but I will very likely grab more shares at a later date.

As sb9 would say Dan’s the man

Presumably in Auckland MIQ now to come meet his new team and can pop open some bubbly and celebrate his expanded role??? He must be a miracle worker to get an MIQ spot!

Thanks tango.

Agree we need new chair who can match Dan's energy and caliber. Big boys will make sure that will happen in due course.

[Baa_Baa]

Very satisfying to hear of the massive oversubscription to insto and minnows cap raising and a landslide shareholder support for all resolutions.

A new day dawns and I'm very excited for the future.

There's also two new Task wins that still haven't been announced.

[Curly]

Looking like onward and upward from here then judging from market response.
Will be interesting to find out extent SPP was scaled back?

[tango]

Thanks tango.

Agree we need new chair who can match Dan's energy and caliber. Big boys will make sure that will happen in due course.

Let's hope!

They may move the head office and board to Australia. If they do it's a good opportunity to reinvigorate the board and find a new chair...

[Mel]

Looking like onward and upward from here then judging from market response.
Will be interesting to find out extent SPP was scaled back?
Find out on Monday! I'm anticipating quite a large scale back

[calledone]

I’m beginning to like the combined product Task and Plexure is bringing to the market. Dan from Task is also giving me a similar vibe as Darren from Serko. Will be interesting to see what kind of changes they are now negotiating with McDonald. Anyway looking forward to see more from the new CEO.

[Baa_Baa]

Task announce on LinkedIn (https://www.linkedin.com/company/task-retail-technology/) 3 days ago:

"TASK is excited to announce it has extended its relationship with Compass Group Australia (https://www.compass-group.com.au), executing an agreement to roll out across the entire enterprise."

... So that's three wins in just a few weeks. Looking forward to Plexure/TASK packaging these wins up and announcing to NZX and ASX soon.

Boom!

[Baa_Baa]

A thing that hasn't been mentioned, surprisingly, is that the Cap Raise was underwritten by two Australian brokers. Yeah, not NZ brokers like FB who already have a truckload of shares. And the Cap Raise was very successfully over sub'd by a large proportion.

Do you think for a moment that using Australian brokers who underwrote the cap raise was a fluke?

This is a clear indication, imo of:

- Plex have to all intents and purposes, acquired a leading Australian tech company (insert all the synergies etc) and by doing so have listed TASk and promoted themselves, on the ASX.

- The Underwriters, both prominent Australian brokers, most likely will have secured a significant holding themselves, have put away a clean oversubscribed cap raise and will move now to promote it.

This is a very interesting time for Plexure and shareholders.

[winner69]

I’m so glad TASK decided to acquire us and so so happy that Phil didn’t tell them to bugger off.

To some extent one of those ‘get out of jail’ cards for Plexure shareholders. Plexure was dead in the water …at least we now have some hope the future will be a lot brighter.

BaaBaa …good to see you so enthusiastic :t_up:

[Mel]

Find out on Monday! I'm anticipating quite a large scale back
Update: share allotment occurs on Wed 29th Sep

[Curly]

Update: share allotment occurs on Wed 29th Oct
Thats 29 Sept not Oct. Trading commences 29.9.21 also. Despatch date 4.10.21

[winner69]

Keep getting this promo thing that says 70% of integrations projects fail

Hope our one is in the 30% group

At least they say ‘Both teams have responded positively to this opportunity’

[tango]

I will be interested to see if they move the head office to Australia

[sb9]

I will be interested to see if they move the head office to Australia

Highly likely, might follow footsteps of Xero in that regard. It'll be nice if they can replicate same success in sp performance to that of XRO.
Unlike XRO, it might stay dual listed though with primary listing being ASX with new name TASK.

[Curly]

Task announce on LinkedIn (https://www.linkedin.com/company/task-retail-technology/) 3 days ago:

"TASK is excited to announce it has extended its relationship with Compass Group Australia (https://www.compass-group.com.au), executing an agreement to roll out across the entire enterprise."

... So that's three wins in just a few weeks. Looking forward to Plexure/TASK packaging these wins up and announcing to NZX and ASX soon.

Boom!
Up and down day today. Started promising then faded. Hopefully a steady rise thru to Friday with above pending announcements and share allocation outcome known by Wed. Looking at SP now, pleased I applied for full allocation. Hope scaling not too severe.

[winner69]

Highly likely, might follow footsteps of Xero in that regard. It'll be nice if they can replicate same success in sp performance to that of XRO.
Unlike XRO, it might stay dual listed though with primary listing being ASX with new name TASK.

I thought XRO HQ was still in NZ

[tango]

I thought XRO HQ was still in NZ

Yeah, I think XRO HQ is in Wellington

TASK having the new CEO and marketing guy based in Aussie may want to relocate its head office but I guess these days with virtual meetings it doesn’t matter as much. If Dan wants to hop back and forward he’s going to be Sh*t out of luck until 2022.
It would be fun if he moved here and injected some energy into the team and our country.

I reckon the new company name will be
Plexure + TASK

Looking forward to the share allocation tomorrow

[steveb]

Here we go again SP on the way down to 52c,and I thought I did really well after the last SPP was scaled back I bought some on market at $1.19,1c lower than the scaled back SPP,my bottle of bubbly got flat very quickly!

[Ggcc]

Here we go again SP on the way down to 52c,and I thought I did really well after the last SPP was scaled back I bought some on market at $1.19,1c lower than the scaled back SPP,my bottle of bubbly got flat very quickly!
With all SPP I've have learned that it is almost always good to wait till afterward. I did not partake in this one nor will I for PEB. I am happy holding onto what I have for the longterm.

[sb9]

Allocations are showing up in Computer share online accounts. Looks like bit of scaling, got 36% of what I've applied for.

[Maxtrade]

I thought the retail allocations were not allowed for less than 450,000. So basically just instós were assigned?

Or is this from the $20M retail allocation. Have they been allocated already?

[sb9]

I thought the retail allocations were not allowed for less than 450,000. So basically just instós were assigned?

Sure you're not getting mixed up with PEB by any chance...

[Maxtrade]

Oh sorry I’m on the wrong thread !

[Wheelspanner]

I have been allocated 100% of what I asked for.
it's only a small amount of 5000 shares.

[tango]

Allocations are showing up in Computer share online accounts. Looks like bit of scaling, got 36% of what I've applied for.

What is your allocation as a % of your existing shareholding?

I can't get into computershare right now to check but will as soon as they let me in

[tango]

Finally got it and I got allocated 43% of my existing shareholding

[sb9]

Finally got it and I got allocated 43% of my existing shareholding

Same, got allocated 43% of my current holding.

[Mel]

Yes, that's the metric they've employed for allocation - I too rec'd 42.5% of my original shareholding.

[Pegasus2000]

got 44.8% allocation of current holding.

[sommelier]

Did shareholders that applied for less than 43% of their current holding receive 100% of the applied shares?

[RupertBear]

Did shareholders that applied for less than 43% of their current holding receive 100% of the applied shares?

yes I got 100% of what I applied for which was around 41% of my current holding

[steveb]

Has anyone received a refund yet?

[tango]

Has anyone received a refund yet?

nope
not yet

[sb9]

Rung computer share just now and they said refunds will be processed next Tue. In this digital and automated age not sure why it would take that long to process refunds, bizarre!!

[tango]

Rung computer share just now and they said refunds will be processed next Tue. In this digital and automated age not sure why it would take that long to process refunds, bizarre!!

Pet peeve! This happens nearly every time

[sb9]

Not really surprising to see ex CEO Craig dumping some stock on market.

[Baa_Baa]

Deal done. Announced on ASX ... "Completion of TASK deal, appointment of CEO and Director"

Included in the announce:

"With the acqusition now completed, Plexure is excited to announce some positive outcomes delivered by TASK since the announcement of the deal on 16 August. In the last seven weeks TASK have signed up several new clients, including:

- SkyStadium implementing industry leading transaction platform;
- Extending its relationship with Compass Group Australia to roll out across entire enterprise; and
- Bakers Delight selecting their online ordering solutions (TOLO) to deploy across all 500+ Australian bakeries."

Boom!

[aperitif]

Deal done. Announced on ASX ... "Completion of TASK deal, appointment of CEO and Director"

Included in the announce:

"With the acqusition now completed, Plexure is excited to announce some positive outcomes delivered by TASK since the announcement of the deal on 16 August. In the last seven weeks TASK have signed up several new clients, including:

- SkyStadium implementing industry leading transaction platform;
- Extending its relationship with Compass Group Australia to roll out across entire enterprise; and
- Bakers Delight selecting their online ordering solutions (TOLO) to deploy across all 500+ Australian bakeries."

Boom!

Very exciting, this is my pick for the next billion dollar company to come out of NZ. So many catalysts ahead imo

[winner69]

“Today is such a momentous day. It’s been a journey to get here, but ultimately this is just the beginning“ said Mr Houden

Thank you Mr Houden for saving our bacon and taking over our company. You might have screwed us big time but we now put our faith in you making us rich…..at least you can’t do any worse than the last lot…..so please don’t stuff up.

[Baa_Baa]

Very exciting, this is my pick for the next billion dollar company to come out of NZ. So many catalysts ahead imo

It reminds me of when you could buy XRO for $0.65.

[Curly]

Yeah and now they are $140.39 aud. Could the same happen here ???

[Baa_Baa]

TASK is excited to announce it has been selected to implement the industry leading TASK Transaction Platform at Sky Stadium (https://www.skystadium.co.nz/contact-us/about-us) in Wellington, New Zealand.

TASK is thrilled to announce that Bakers Delight (https://www.bakersdelight.com.au) has selected our online ordering solution (TOLO) to deploy across all of their 500+ Australian bakeries.

TASK is excited to announce it has extended its relationship with Compass Group Australia (https://www.compass-group.com.au), executing an agreement to roll out across the entire enterprise. (600 locations)

[winner69]

You work for TASK baabaa

Never seen you so excited and passionate about such things before

Keep it going ….you getting us all really excited as well

[percy]

I hold shares in MSL.[asx]
Looks to be a great growth sector.
So the excitement builds.

[Baa_Baa]

You work for TASK baabaa

Never seen you so excited and passionate about such things before

Keep it going ….you getting us all really excited as well

For the record, I don't work for Plexure or Task, but I do own shares in the company and have done since 2014, accumulating an overweight position in my portfolio. It's true, I am very excited about the future of Plexure & Task.

This acquisition of Task by Plexure imo stacks up in many ways, but in the words of the Independent Advisor's Report by Simmons ...

"In our opinion, after having regard to all relevant factors, the positive aspects of the TASK Merger (including the TASK Allotment) significantly outweigh the negative aspects from the perspective of the Current Shareholders.”

It's hard not to be excited about this:

"The Strategic Rationale for the Task Merger

Plexure currently offers an extensive customer engagement platform. Its key barrier is integration into the customer’s POS or enterprise management systems.

Task provides a state-of-the-art enterprise POS solution that will enable Plexure to offer a fully integrated system, providing an end-to-end enterprise hospitality and retail engagement platform.

Task also offers Plexure access to new industry verticals (such as casinos, restaurant chains, stadiums and food service) and access to a large, diverse, quality client base.

The Board’s rationale for the transaction is set out in detail in section 2 of the Explanatory Memorandum attached to the notice of special meeting (the Explanatory Memorandum) and is summarised below:

• complementary product sets – the combination of operations and customer engagement product capability will create an end-to-end platform that can improve clients’ digital transformations

• diversification of Plexure’s customer base – Task brings a range of global clients that include multi-national restaurant chains, food service businesses and entertainment and stadium venues across Australia and increasingly in North America and Europe. This will diversify Plexure from its heavy reliance on McDonald’s (which accounted for 94% of Plexure’s revenue in the 2021 financial year)

• development capability – Task’s development capability based in Poland and Australia will complement Plexure’s development team based in New Zealand and ensure the combined group achieves its combined software development ambitions more efficiently than Plexure would be able to achieve alone

• scale, growth and synergies – Task brings material additional recurring software revenue to the combined group. The Board believes the combined group will be better positioned to capture the significant opportunities open to either Task or Plexure on a standalone basis. Furthermore, the combined group will be able to share corporate functions such as finance and human resources.

In our view, the strategic rationale for the Task Merger is compelling. The Task Merger is effectively a merger of equals and will be transformational for Plexure. The Company’s operations will broaden from providing a customer engagement solution for a relatively small number of customers (and being heavily reliant on one – McDonald’s) to being an end-to-end cloud engagement and transaction platform
provider for a number of major hospitality and retail enterprises. The transaction will diversify Plexure’s customer base, expand the product portfolio for both companies and should generate cross-selling opportunities."

And while the acquisition drama was unfolding, Task closed three new deals; Sky Stadium, Bakers Delight and Compass Group.

:)

[aperitif]

It reminds me of when you could buy XRO for $0.65.

Paid double that, but did alright….:t_up:Plexure is my favourite type of company; small, under followed and misunderstood.

[BlackPeter]

It reminds me of when you could buy XRO for $0.65.


Yeah and now they are $140.39 aud. Could the same happen here ???


Paid double that, but did alright….:t_up:Plexure is my favourite type of company; small, under followed and misunderstood.

Pick a random sample of 20 start ups ... and one of them in average will be successful (i.e. return more money to shareholders than they take).

What makes you believe that PX1 belongs to the successful 5% which will (after many years of trying) succeed (like XRO seems to do ...) and not to the 95% who fail (like e.g. WYN, GEN, OHE, CRP, CBL, ...). Lets face it, what all these companies had in common is that they have been misunderstood (by their investors, this is). Not sure, though I would call them underfollowed. Normally being overhyped is a bigger problem - not for the companies, but for the the late arriving investors. Great stuff for traders, though.

Anyway - while Plexure has a long history of living off shareholder funds, the final verdict about its success still stands out.

All the best to holders ...

[sb9]

Refund paid back, let's go shopping..

[pg0220]

Hi all, expect a price drop as I hopped on today....... ;)

[Mel]

Hi all, expect a price drop as I hopped on today....... ;)
lol, I think we've all been there!

[sb9]

Heading down to cap raise price...:eek2:

[fiasco]

I thought low 60 was a good entry point! Won't be long till we get some updates and hopeful new customers onboarded through the TASK relationships.

[VDOG]

Hi all, expect a price drop as I hopped on today....... ;)
Well good to know someone can predict the market... let me know when you're about to invest in something else and I'll get out... ;)

[Baa_Baa]

Directors getting some shares (https://www.nzx.com/announcements/381064) while the price is so low, must know something good is coming ;)

[aperitif]

Directors getting some shares (https://www.nzx.com/announcements/381064) while the price is so low, must know something good is coming ;)

Been buying all week, great news. 15% position now ahhhhhhh

[Balance]

Directors getting some shares (https://www.nzx.com/announcements/381064) while the price is so low, must know something good is coming ;)

From the placement and 2 weeks later after getting them.

What’s the rule regarding filing of SPH? 1 week for directors and management, I believe?

[Balance]

From the placement and 2 weeks later after getting them.

What’s the rule regarding filing of SPH? 1 week for directors and management, I believe?

Out of interest, I checked and here's the requirement :

https://map.nzx.com/static/forms/docs/20170927-Guidance-on-substantial-product-holder-disclosures.pdf

" ..... we would expect the SPH notice to be filed, usually, within one business day of them becoming aware of the events which triggered the disclosure obligation."

[calledone]

Out of interest, I checked and here's the requirement :

https://map.nzx.com/static/forms/docs/20170927-Guidance-on-substantial-product-holder-disclosures.pdf

" ..... we would expect the SPH notice to be filed, usually, within one business day of them becoming aware of the events which triggered the disclosure obligation."

During Q&A session in the recent shareholder meeting, Phil did mention directors will be buying during this CR. I was also wondering why it took this long to publish to market. Anyway I’ve been buying too in the last week. Got a few more last week. This is my most speculative and risky holding but I think Task adds a new and exciting dimension to their product offering and if negotiations with mcdonalds(as discussed during recent meeting) frees Plexure to offer their service to maybe other fast food giants then it will be even bigger win for Plexure.

[mikeybycrikey]

Out of interest, I checked and here's the requirement :

https://map.nzx.com/static/forms/docs/20170927-Guidance-on-substantial-product-holder-disclosures.pdf

" ..... we would expect the SPH notice to be filed, usually, within one business day of them becoming aware of the events which triggered the disclosure obligation."

According to the legislation there is a difference between SPHs (substantial product holders) and directors/senior managers. SPHs should notify as soon as possible, while insiders should be within 5 days or 20 working days (in certain circumstances). You seem to be implying there is something shady going on here, when they are only meeting the legal requirements.

The notification from PX1 even refers to section 297(2), rather than section 274.

[Balance]

According to the legislation there is a difference between SPHs (substantial product holders) and directors/senior managers. SPHs should notify as soon as possible, while insiders should be within 5 days or 20 working days (in certain circumstances). You seem to be implying there is something shady going on here, when they are only meeting the legal requirements.

The notification from PX1 even refers to section 297(2), rather than section 274.

Intrigues me why the directors did not disclose in a more timely manner as they have not exactly won the trust of the punters who shelled out $1.20 last year to be skinned?

[Maxtrade]

Intrigues me why the directors did not disclose in a more timely manner as they have not exactly won the trust of the punters who shelled out $1.20 last year to be skinned?

Yeah good point. But wonder at these levels below 0.6 is still a good opportunity to buy in? SP hasn't dropped back to Cap Raise price which is always a good sign that the bottom has been established and held above CR price. So a rally should be in the works to follow one might expect? Seems like most flippers might have cleared out now that may have just been looking for a 10% profit off the back of the CR. Thoughts?

[winner69]

OMG …the much respected big Plexure shareholder Scobie Ward didn’t participate in the capital raising

Vote of no confidence?

[whatsup]

OMG …the much respected big Plexure shareholder Scobie Ward didn’t participate in the capital raising

Vote of no confidence?

Not really. Participates in plenty of other investments.

[Maxtrade]

Not really. Participates in plenty of other investments.

Also already has a pretty huge holding. Good news directors are opting in, always a good sign for the direction to follow. Not a lot of resistance really on the sell side so seems quite likely with this news will be back up in the 6's this week. Maybe even back into 0.7's this month. Who's got the crystal ball but on the cards :)

[winner69]

All the excitment died down and share price back in the doldrums

Probably be another frustrating period coming up …..but one day this is gunna to fly

[BlackPeter]

All the excitment died down and share price back in the doldrums

Probably be another frustrating period coming up …..but one day this is gunna to fly

... or crash?

[madmat]

... or crash?

Or to the Moon?

[Ggcc]

... or crash?
I don’t think this will crash. If PEB can make it after all these years, surely PX1 can make it. There will be another capital raise or two, but it will grow eventually to be a reasonable company. If plexure and task remain in partnership

[Bob50]

Directors getting some shares (https://www.nzx.com/announcements/381064) while the price is so low, must know something good is coming ;)

Am I reading this correct. This director just bought 1.4 million shares?

Thats good enough for me. I just bought.

My portfolio is heavily in favour of solid dividend stocks banks/power companies/property/retail/kingfish/barramundi etc - these make up about 85% of my value.

Having a couple of percent each in the likes of this and IKE GPS add interest.

[BlackPeter]

Or to the Moon?

... absolutely - only question would be, do you want them to be on the moon :p ?

Look - I absolutely agree, this could be the next Xero ... the next Gentrack or the next Wynyard. The odds are for any money loosing startup roughly 1 (go into the stratosphere) to 499 (be moderately successful through to linger around but survive) to 9500 (crash) and I wish everybody the best of luck.

If history is a guide ... so far they have not been very successful in generating shareholder value, haven't they? But absolutely - this time may be different, it always might.

[Justin]

I don’t think this will crash. If PEB can make it after all these years, surely PX1 can make it. There will be another capital raise or two, but it will grow eventually to be a reasonable company. If plexure and task remain in partnership

another capital raise or two :scared:

[Rawz]

Not sure what this means for PX1. But McD's getting IBM to do their drive thru.

https://www.cnbc.com/2021/10/27/mcdonalds-enters-strategic-partnership-with-ibm-to-automate-drive-thru-lanes.html

"McDonald’s (https://www.cnbc.com/quotes/MCD) said Wednesday it has entered a strategic partnership with IBM (https://www.cnbc.com/quotes/IBM) to develop artificial intelligence technology that will help the fast-food chain automate its drive-thru lanes.As part of the deal, IBM will acquire McD Tech Labs, which was formerly known as Apprente before McDonald’s bought the tech company in 2019. McDonald’s didn’t disclose financial terms for either transaction.


“In my mind, IBM is the ideal partner for McDonald’s given their expertise in building AI-powered customer care solutions and voice recognition,” McDonald’s CEO Chris Kempczinski said on the earnings call with analysts Wednesday"

Probably not good for PX1

[Cobber]

Not sure what this means for PX1. But McD's getting IBM to do their drive thru.

https://www.cnbc.com/2021/10/27/mcdonalds-enters-strategic-partnership-with-ibm-to-automate-drive-thru-lanes.html

"McDonald’s (https://www.cnbc.com/quotes/MCD) said Wednesday it has entered a strategic partnership with IBM (https://www.cnbc.com/quotes/IBM) to develop artificial intelligence technology that will help the fast-food chain automate its drive-thru lanes.As part of the deal, IBM will acquire McD Tech Labs, which was formerly known as Apprente before McDonald’s bought the tech company in 2019. McDonald’s didn’t disclose financial terms for either transaction.


“In my mind, IBM is the ideal partner for McDonald’s given their expertise in building AI-powered customer care solutions and voice recognition,” McDonald’s CEO Chris Kempczinski said on the earnings call with analysts Wednesday"

Probably not good for PX1

I remember them buying that company. It was at the same time they first invested in PX1. To be offloading them after only a few years suggests to me that it didn't stack up like McDonalds thought. I don't think it has any impact on PX1. Business as usual.

[Justin]

“In my mind, IBM is the ideal partner for McDonald’s given their expertise in building AI-powered customer care solutions and voice recognition,” McDonald’s CEO Chris Kempczinski said on the earnings call with analysts Wednesday"

I think plexure doing same thing about artificial intelligence and machine learning solutions for McDonald’s

https://www.plexure.com/blog/artificial-intelligence-marketing/

[blobbles]

Not sure what this means for PX1. But McD's getting IBM to do their drive thru.

https://www.cnbc.com/2021/10/27/mcdonalds-enters-strategic-partnership-with-ibm-to-automate-drive-thru-lanes.html

"McDonald’s (https://www.cnbc.com/quotes/MCD) said Wednesday it has entered a strategic partnership with IBM (https://www.cnbc.com/quotes/IBM) to develop artificial intelligence technology that will help the fast-food chain automate its drive-thru lanes.As part of the deal, IBM will acquire McD Tech Labs, which was formerly known as Apprente before McDonald’s bought the tech company in 2019. McDonald’s didn’t disclose financial terms for either transaction.


“In my mind, IBM is the ideal partner for McDonald’s given their expertise in building AI-powered customer care solutions and voice recognition,” McDonald’s CEO Chris Kempczinski said on the earnings call with analysts Wednesday"

Probably not good for PX1

Meh, two completely different ends of the business. Automating drive through lanes will be doing stuff like automated ordering, better traffic management etc. Plexure is more on the marketing/sales/rewards side of the business, so no overlap.

[Cobber]

“In my mind, IBM is the ideal partner for McDonald’s given their expertise in building AI-powered customer care solutions and voice recognition,” McDonald’s CEO Chris Kempczinski said on the earnings call with analysts Wednesday"

I think plexure doing same thing about artificial intelligence and machine learning solutions for McDonald’s

https://www.plexure.com/blog/artificial-intelligence-marketing/

That article was written in 2019. As it states, AI and personalisation require a lot of data to learn about consumer habits. Unfortunately Apple's iOS "stop tracking me" update just destroyed around 85% of that data. They are pretty much stuck with first party data only. Their ability to track you by location or purchases outside of their app is significantly reduced.

[Maxtrade]

0.51! time to buy?

[Balance]

0.51! time to buy?

PX1 has had 2 goes at establishing a strong Sp platform to launch from - the ASX dual listing & placement, and the TASK backdoor listing.

Seems to me like the market has no confidence in the underlying story and there are mostly traders in there for a quick flip?

[Baa_Baa]

That article was written in 2019. As it states, AI and personalisation require a lot of data to learn about consumer habits. Unfortunately Apple's iOS "stop tracking me" update just destroyed around 85% of that data. They are pretty much stuck with first party data only. Their ability to track you by location or purchases outside of their app is significantly reduced.

I don't think that is correct.

Plexure stated in December 2020 that the Apple iOS tracking does not affect them as they don't use that technology. It's been discussed some time ago on this thread. Here it is again:

I asked directly ... "whether or how Plexure will be affected or have to comply with the new technical restrictions and rules related to the Apple tracking systems - Identifier for Advertisers (IDFA)?"

They replied ... "We don’t use IDFA to track customers so the change will have no impact for us. Infact it may actually be beneficial as some competitors may use IDFA."

[Rawz]

Is the McDonald's monopoly game run through the PX1 created app?

If you have a look on the NZ MCDonalds facebook page their are a load of comments from customers complaining that the scanning doesnt work. A bit of frustration. Sounds like a bit of a fail.

[Gerald]

Is the McDonald's monopoly game run through the PX1 created app?

If you have a look on the NZ MCDonalds facebook page their are a load of comments from customers complaining that the scanning doesnt work. A bit of frustration. Sounds like a bit of a fail.


Pretty sure no.

[Baa_Baa]

PX1 has had 2 goes at establishing a strong Sp platform to launch from - the ASX dual listing & placement, and the TASK backdoor listing.

Seems to me like the market has no confidence in the underlying story and there are mostly traders in there for a quick flip?

The top-20 shareholders hold 70% of the company, the remaining 30% might have some of the traders you speak of.

I think that the market is yet to understand what the merger means, technically and by way of opportunity for the combined businesses of Plexure and TASK.

The only things that will move the SP imho is a succession of major new customer wins, or existing customer expansions, or they report results that achieve or exceed guidance.

The big caveat, again imo is that the key foundation of the merger was the TASK pipeline and a massive increase in forecast TASK revenue for current FY. They have to realise that.

The good news about Sky Stadium, Bakers Delight and Compass Group, all of which occurred during the merger, seems to have been drowned out in the noise.

[Cobber]

The top-20 shareholders hold 70% of the company, the remaining 30% might have some of the traders you speak of.

I think that the market is yet to understand what the merger means, technically and by way of opportunity for the combined businesses of Plexure and TASK.

The only things that will move the SP imho is a succession of major new customer wins, or existing customer expansions, or they report results that achieve or exceed guidance.

The big caveat, again imo is that the key foundation of the merger was the TASK pipeline and a massive increase in forecast TASK revenue for current FY. They have to realise that.

The good news about Sky Stadium, Bakers Delight and Compass Group, all of which occurred during the merger, seems to have been drowned out in the noise.

It's amazing all those business WINS get announced leading up to the merger.... then once the deal is done.... silence.

I've been trying to quantify exactly what "winning" Sky Stadium means in $$ and in work. I mean.... what the heck are they doing for them?

Maybe some market education around Task would be beneficial?

[percy]

https://tasksoftware.com.au/

[Baa_Baa]

It's amazing all those business WINS get announced leading up to the merger.... then once the deal is done.... silence.

I've been trying to quantify exactly what "winning" Sky Stadium means in $$ and in work. I mean.... what the heck are they doing for them?

Maybe some market education around Task would be beneficial?

To be fair, it was TASK that announced (on their LinkedIn page) their new and expanded customers - prior to - the merger being completed. Plexure was asked directly at the merger meeting of shareholders and did not deny it but declined to elaborate. It was not until the merger deal was completed that Plexure announced the TASK customers, in a very low key add-on to the announcement of agreement to merge.

The Sky Stadium is most likely to be similar to the other stadium customers, which you can read about those stadium products on the TASK website. In $ terms I expect it will be relatively small.

The Bakers Delight deal for the TASK online ordering solution (TOLO) to deploy across all of their 500+ Australian bakeries is likely to be a lot more substantial $ (the products are also on the TASK website), but we haven't been given any indication of revenue.

Likewise the extended relationship with Compass Group Australia, executing an agreement to roll out across the entire enterprise (600+ stores) is vague on what product is being rolled out and no mention of revenue expectations, albeit I expect it to be fairly significant like Bakers Delight.

So absolutely, I agree with you that we have been given very little information by the company about these deals, or the $, or the products and how they complement each other, what the opportunities are etc etc. All of the Plexure and TASK products are described on their websites. The merger presentation gave some insights into how the products could work together.

The elephant in the room imo is that Plexure still haven't signed anything really significant except Pita Pit in NZ and the significant part is not a modest NZ franchise, it's whether it expands worldwide. I know they've been doing POC's with Ahold Delhaize and Super Indo, but as yet nothing more said about that.

Speaking of other customers, we literally haven't heard anything since the original announce about White Castle or Loyalty NZ, and it seems every update to the website drops off some customers, like IKEA, 7-Eleven Fuel App, etc. (The 7-eleven fuel app is still a thing).

Interestingly McDonalds haven't yet exercised their right to increase their holding back up to the 9% or so that they had before the merger (currently diluted to 5.78%). We can only assume 'contract negotiations' with McD's are ongoing, the big thing would be more emphasis on transaction revenues rather than solely license and support revenue presently.

The Houdens now own about 35% of the company between them (Jennifer and Kym) so it's fair to say I think that the merger was a reverse takeover and backdoor listing of TASK into Plexure on the NZX and ASX. Volume on the ASX is woefully pitiful, so I would hope that Plexure/TASK launch some serious marketing campaign aimed at shareholders.

So in summary, I'd have to agree with any shareholders or prospective shareholder who felt like they were flying blind through the lack of information provided to the market since the merger.

[Maxtrade]

The top-20 shareholders hold 70% of the company, the remaining 30% might have some of the traders you speak of.

I think that the market is yet to understand what the merger means, technically and by way of opportunity for the combined businesses of Plexure and TASK.

The only things that will move the SP imho is a succession of major new customer wins, or existing customer expansions, or they report results that achieve or exceed guidance.

The big caveat, again imo is that the key foundation of the merger was the TASK pipeline and a massive increase in forecast TASK revenue for current FY. They have to realise that.

The good news about Sky Stadium, Bakers Delight and Compass Group, all of which occurred during the merger, seems to have been drowned out in the noise.

Is it being too hopeful for an update to help inform shareholder snow those matters are progressing. There is still positive aspects that may materialise after joined up with Task but as with many companies the information to shareholders often lags and leave es us in the dark a bit, which can cause the SP to subsequently downtrend after the acquisition. How many investors on here are in the belief that positive news is in the works which will likely drive SP back up into at least the 0.6 range. Versus how many feel SP will break 0.5? 0.50 will be a key resistance level if it holds we will likely see an uptrend into the 0.6 to follow suit. The general global markets having recently taken the foot off the accelerator is also probably affecting PX1 getting down to 0.50. Thoughts from those most experienced....?

[LoungeLizzard]

I'm starting to get a bad feeling that PX1 may be repeating history in promising a lot before a cap raise, then failing to deliver on those promises once it's had it's coffers filled. I've only bought in recently but still looking at 20% loss in a short space of time and feel uneasy, let alone those who may have bought 12 months ago the the price was $1.40. Is TASK the game changer or does the culture of self-interest and indifference to shareholders (beyond cap raises) still persist? SP is drifting on lack of updates from the company. How hard would it be to put out a newsletter informing shareholders on how the "new" company is going and what is in the pipeline? PX! need to up their game otherwise they will start to the give the perception that they are market chancers without any clear strategy.

[Rawz]

I'm starting to get a bad feeling that PX1 may be repeating history in promising a lot before a cap raise, then failing to deliver on those promises once it's had it's coffers filled. I've only bought in recently but still looking at 20% loss in a short space of time and feel uneasy, let alone those who may have bought 12 months ago the the price was $1.40. Is TASK the game changer or does the culture of self-interest and indifference to shareholders (beyond cap raises) still persist? SP is drifting on lack of updates from the company. How hard would it be to put out a newsletter informing shareholders on how the "new" company is going and what is in the pipeline? PX! need to up their game otherwise they will start to the give the perception that they are market chancers without any clear strategy.

Those of us that bought in last year on the $1.20 cap raise have already sold and booked a 50% loss.

You all good, you got another 30% of capital destruction to go. Your bad feeling is probably right!

[Maxtrade]

I'm starting to get a bad feeling that PX1 may be repeating history in promising a lot before a cap raise, then failing to deliver on those promises once it's had it's coffers filled. I've only bought in recently but still looking at 20% loss in a short space of time and feel uneasy, let alone those who may have bought 12 months ago the the price was $1.40. Is TASK the game changer or does the culture of self-interest and indifference to shareholders (beyond cap raises) still persist? SP is drifting on lack of updates from the company. How hard would it be to put out a newsletter informing shareholders on how the "new" company is going and what is in the pipeline? PX! need to up their game otherwise they will start to the give the perception that they are market chancers without any clear strategy.

Maybe SP being driven lower (without any real news) for insto's/Task related to increase holdings at a lower rate before announcing any more positive updates. Seems irrationally low 5% down today without any real driving factor. Might see a bottom form and bounce up soon, especially if reaches 0.45.

[winner69]

Maybe SP being driven lower (without any real news) for insto's/Task related to increase holdings at a lower rate before announcing any more positive updates. Seems irrationally low 5% down today without any real driving factor. Might see a bottom form and bounce up soon, especially if reaches 0.45.

I reckon it’s heading into the 30s ….by Christmas

I’m having doubts if there’s much of a future hanging around

Those who pumped cash in over the last year must be feeling a bit shattered

[Balance]

I reckon it’s heading into the 30s ….by Christmas

I’m having doubts if there’s much of a future hanging around

Those who pumped cash in over the last year must be feeling a bit shattered

They enjoyed the hype so hope it was worth it?

[BlackPeter]

They enjoyed the hype so hope it was worth it?

Well, some of them clearly indulged in attacking the voices of reason ... wondering whether they feel now very smug. But hey - maybe they learn something from it?

And who knows - PX1 could announce next week this amazing deal, couldn't they? There always will be hope ... It is just - hope is not a very good investment strategy.

[Balance]

Well, some of them clearly indulged in attacking the voices of reason ... wondering whether they feel now very smug. But hey - maybe they learn something from it?

But hey - who knows - PX1 could announce next week this amazing deal, couldn't they? There always will be hope ... It is just - hope is not a very good investment strategy.

Just as landing a McDonalds' contract which bleeds the company dry with servicing costs while limiting its ability to market its services to any other major fast food company is not a good business strategy - so revenues Cabot grow while costs grow! What a great deal and the hype was just as great!

[RupertBear]

I reckon it’s heading into the 30s ….by Christmas

I’m having doubts if there’s much of a future hanging around

Those who pumped cash in over the last year must be feeling a bit shattered

Oh No No Worries Winner sounds Worried :(

[fiasco]

Stop Loss triggered, looks like I'm out. 20% loss, a hard pill to swallow!

[pg0220]

Just as landing a McDonalds' contract which bleeds the company dry with servicing costs while limiting its ability to market its services to any other major fast food company is not a good business strategy - so revenues Cabot grow while costs grow! What a great deal and the hype was just as great!

I might be wrong, but I think it wasn't the contract which made PX1 bleed with so much costs, but the way their backend solution has been designed that is not adopting the best practice and is cost inefficient. I think they are working on getting their solution right with the best practice these days so there is a hope in that sense. From a new customer perspective, I am not sure haha

But, maybe we should stop talking about plexure anymore, as it is TASK where future may be... Look at how much Vend has been sold for!

[Checkmate]

It’s a bit risky selling for a loss now with earnings report right around the corner…

[Brain]

It’s a bit risky selling for a loss now with earnings report right around the corner…


Or maybe not. Who knows. Maybe fiasco has done the right thing.

[winner69]

Or maybe not. Who knows. Maybe fiasco has done the right thing.

…and fiasco ended up with a fiasco …..with Plexure maybe an omen.

[Greekwatchdog]

I think the HY will be poor with more emphasis on 2nd half. Be interesting to see how CEO moves forward.

[winner69]

I might be wrong, but I think it wasn't the contract which made PX1 bleed with so much costs, but the way their backend solution has been designed that is not adopting the best practice and is cost inefficient. I think they are working on getting their solution right with the best practice these days so there is a hope in that sense. From a new customer perspective, I am not sure haha

But, maybe we should stop talking about PX1 anymore, as it is TASK where future may be with... Look at how much Vend has been sold for!

Yes Vend got a good price …but then again it had something that worked and had heaps of future customers to capture.

[dreamcatcher]

I think you are seeing what aussies do best 'short'... maybe this will have more meat then OCA in a few months or a years time

The doors of the world are opening.

[LoungeLizzard]

Hehe...as a new PX1 investor it's more like one door closes, and another slams in your face...

[BlackPeter]

Hehe...as a new PX1 investor it's more like one door closes, and another slams in your face...

Interesting - what made you want to invest into PX1 in the first place? I guess sure - for any so called growth stock there is a group of people telling themselves stories of "what could be if they just get this next amazing customer or deal" - and these stories are always amazing material for GroupThink researchers and other behavioural economists, but anybody who looks at Plexures (and however they have been called before) long history of living from continuous capital rises would need to see a reason why this time is different.

Did you find a reason?

[LoungeLizzard]

Interesting - what made you want to invest into PX1 in the first place? I guess sure - for any so called growth stock there is a group of people telling themselves stories of "what could be if they just get this next amazing customer or deal" - and these stories are always amazing material for GroupThink researchers and other behavioural economists, but anybody who looks at Plexures (and however they have been called before) long history of living from continuous capital rises would need to see a reason why this time is different.

Did you find a reason?

I got in on the Task deal - not before. The synergies looked good, as did the new management - but it's all about the execution, and therein lies the risk. Get it right there's a reward coming down the line, get it wrong and you have to wear the loses and move on. Nature of the beast. I've got it right in the past with A2 and more recently Pacific Edge, Rakon, Arborgen and NZ Windfarms. Not sure yet what side of the ledger PX1 will fall on.

[davflaws]

I but anybody who looks at Plexures (and however they have been called before) long history of living from continuous capital rises would need to see a reason why this time is different.

Did you find a reason?
Nah - just got a tip from a mate who said he was putting money in and that he strongly advised me to. And he put a relatively small amount into XRO under a dollar and will never work again.

[Justin]

I’m out. But still watching, I wonder any moat of this company compare with other companies?

[fiasco]

…and fiasco ended up with a fiasco …..with Plexure maybe an omen.

We'll soon find out!

I suspect COVID has slowed their growth projection.

Preservation of funds is always important and it can be parked somewhere else for the time being, until we see a bit more traction by PX1

[Maxtrade]

We'll soon find out!

I suspect COVID has slowed their growth projection.

Preservation of funds is always important and it can be parked somewhere else for the time being, until we see a bit more traction by PX1

Seems like some descent news in the works pushing SP up 10% already ahead of announcement update on Wednesday. Always those in the know that seem to have a bit of a jump on the market.

[Maxtrade]

The deal for Plexure to acquire Task had A$78.5m Plexure shares issued to the owners of Task at 60c per share. We may see Wednesday announcement in turn result in a rally of SP back up to at least what Task acquired the shares based on 0.60. There hasn't been much mention of the customers such as Starbucks etc, only focus has been on McDonalds. There is more to the company and the benefits of the Task acquisition are yet to be factored in and digested into SP. This recent dip in SP seems to have overlooke Tasks growth for Plexure. Hence maybe seeing market catchup today with the 10% rally pre announcement. I wouldn't action your stop losses at 20%, premature for a turn around. Give time for Task to integrate and be digested. Upside potential seems more likely than realising a 20% loss.

[BlackPeter]

Seems like some descent news in the works pushing SP up 10% already ahead of announcement update on Wednesday. Always those in the know that seem to have a bit of a jump on the market.

Just a bit risky indicator, and actually the bounce does not look different (just weaker) than the minor SP bounces on 16/8 and e.g. 2/9. Big seller finished and SP recovering a bit - normal laws of physics.

Sure - it it could be a case of insiders buying, but it could be as well a case of buy the rumor and sell the fact.

I don't think either that anything which would help the PX1 SP could be communicated through a planned announcement. If they have this new big customer, they would need to tell the market now, not wait until Wednesday ...

I guess we will know after the update ... but I won't hold my breath :):

[Maxtrade]

Just a bit risky indicator, and actually the bounce does not look different (just weaker) than the minor SP bounces on 16/8 and e.g. 2/9. Big seller finished and SP recovering a bit - normal laws of physics.

Sure - it it could be a case of insiders buying, but it could be as well a case of buy the rumor and sell the fact.

I don't think either that anything which would help the PX1 SP could be communicated through a planned announcement. If they have this new big customer, they would need to tell the market now, not wait until Wednesday ...

I guess we will know after the update ... but I won't hold my breath :):

15-20% rally in a day!?!

Will be interesting to see if as you say the larger volume seller has now cleared out and SP recovery reaches back up to 0.60 level where Task acquired shares at. Makes sense. Seems to be on track for that currently. I might top up for that trade now if touches back to 0.5, even if then sold at 0.6 will be another 20% return. If it is not insiders knowledge then seems quite a few buyers thinking the same today. 15- 20% seems overly substantial for a day rally. Tomorrow will likely continue to slowly uptrend another 3-5% pre update.

[BlackPeter]

The rally 2/9 to 6/9 was more than 40% up (53 cents to 75 cents) - Pump and dump?

Anyway - good luck, but I clearly would not hold my breath with this stock ...

[LoungeLizzard]

The rally 2/9 to 6/9 was more than 40% up (53 cents to 75 cents) - Pump and dump?

Anyway - good luck, but I clearly would not hold my breath with this stock ...

This stock is at it's stage of development that all you can do is hold your breath. Down the line we might be able to breathe easier but for the moment PX1 investors need good lungs:)

[Checkmate]

An announcement of meeting a simple financial reporting obligation shouldn’t pump the stock up 15%, someone knows something or someone is taking a punt.

[winner69]

An announcement of meeting a simple financial reporting obligation shouldn’t pump the stock up 15%, someone knows something or someone is taking a punt.

Volumes would suggest a few taking a punt -- and $160k of sales not much is it

[Baa_Baa]

An announcement of meeting a simple financial reporting obligation shouldn’t pump the stock up 15%, someone knows something or someone is taking a punt.

Under .52 being the insto raise price was just absurd. Happy to get a few more under their price. Wednesday, first half will be revealed, I’ve previously stated my expectations.

Don’t believe the insider knowledge / trading nonsense, save that beginner conspiracy stuff for HotCopper.

Just a hint, if you check the course of trades … it’s like everyday this is a plaything for tons of very low value trades… when it goes down heaps of tiny sells, when it goes up heaps of tiny buys. It only takes a $1 or $10 trade to move the market price. You reckon any of them have any idea what’s going on or just chasing the daily meme?

[Rawz]

Under .52 being the insto raise price was just absurd. Happy to get a few more under their price. Wednesday, first half will be revealed, I’ve previously stated my expectations.

Don’t believe the insider knowledge / trading nonsense, save that beginner conspiracy stuff for HotCopper.

Just a hint, if you check the course of trades … it’s like everyday this is a plaything for tons of very low value trades… when it goes down heaps of tiny sells, when it goes up heaps of tiny buys. It only takes a $1 or $10 trade to move the market price. You reckon any of them have any idea what’s going on or just chasing the daily meme?

Thought it was absurd when it went below the previous cap raise $1.20. We all know how that ended up

52 cents is certainly not a floor

[Justin]

Will they got enough fund to run this company? Or another capital raise soon?

[dreamcatcher]

Looked like someone box moving to me and same in Aus

Never mind I added more

[Maxtrade]

Looked like someone box moving to me and same in Aus

Never mind I added more

Yeah, agree with above comments. Being able to buy into cap raise price is a good buying opportunity, especially with benefits of Task acquisition yet to be realised. Also a large part of the deal was calculated at share price allocation from Plexure to Task at 0.60. For sure SP will track north back to at least 0.60 soon enough

[Checkmate]

Combined revenue of around $43m 2021 and market valuation is at $175m right now. 4x sales however sales might have been growing last 6 months. Be really interesting to see tomorrow!

[shwatch]

The Company reported a net loss attributable to shareholders of $8.5 million for the period, including $2.1 million in relation to the TASK acquisition and higher recruitment costs. This result compared with a net loss of $4.4 million for the prior comparative period (PCP). Plexure’s total revenue for the period was NZ$13.5 million, which was 7% lower than last year. Operating expenses grew by $3.0 million to $21.8 million as the Company pursued a cost intensive strategy to invest for growth. This strategy had been predicated on strong sales growth, which has not occurred. In addition, IT costs from existing client activities also increased by 40% versus last year. Net cash utilised in operating and investing activities was $9.8 million for the six months, excluding investment in term deposits of $0.6 million. This was up from $5.4 million in the prior year. The cash balance on September 30 included funds provided from the capital raise, which were utilised on October 1 to part settle the purchase price for TASK.


Following this, Plexure will address further synergies, including platform efficiencies and overhead reductions, including a potential consolidation into a single exchange listing.

[shwatch]

Loss worse than last year, looks like TASK winning more business and kicking the old Plexure strategy into touch with more ancillary bolt-ons to existing relationships like Pita Pit.

Could this be the true dawn post capital raise or another wasted opportunity?

[winner69]

What a sad half year announcement ….declining sales ……growing expenses ….much bigger loss

Seems they had to ‘buy’ TASK to save the day …Plexure would have been a goner (broke) if they hadn’t …but know we just get get another round of stories (even case studies) as to how great the future is going to be

Seems we have to have HUGE faith in this TASK guy if punters are ever going to see any progress


Almost beyond hoping …praying might be a better strategy

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/PX1/382957/359391.pdf

[fiasco]

IT costs from existing client activities also increased by 40% versus last year

15 years working in the technology industry, this is quite a significant issue that they need to resolve. This tells me there was a lot of rework (defects) to make things work for their customers.

Good luck to holders, I will be keeping an eye on their future reporting to see if they improve on their growth execution before dipping my toes in.

[winner69]

Let’s clear the deck of NZ ……list as TASK on ASX

Good idea

More greater fools on the other side of Tasman

[Ggcc]

Let’s clear the deck of NZ ……list as TASK on ASX

Good idea

More greater fools on the other side of Tasman
I feel they might end up doing that exactly for that reason. More money not the fools part

[jimdog31]

Imagine if the task transaction hadnt happened?!?? what an absolute joke of a company!

[kappa]

IT costs from existing client activities also increased by 40% versus last year

15 years working in the technology industry, this is quite a significant issue that they need to resolve. This tells me there was a lot of rework (defects) to make things work for their customers.

Good luck to holders, I will be keeping an eye on their future reporting to see if they improve on their growth execution before dipping my toes in.

Yeah, this stood out for me as well.


An increase in the volume of users hasdriven up platform activity, resulting inincreased platform hosting costs andadditional support and maintenancecosts of $5.6 million (up 40% on PCP).

Yet there was only a $1.1M increase in licensing revenue. Makes me wonder what will happen if the volume of users continues to increase.

[porkandpuha]

Sheesh not good reading. Did anyone manage to find any good news in the report?

I had this on my watchlist as a potential buy but happy to stay on the sideline a bit longer now...

[Maxtrade]

Loss worse than last year, looks like TASK winning more business and kicking the old Plexure strategy into touch with more ancillary bolt-ons to existing relationships like Pita Pit.

Could this be the true dawn post capital raise or another wasted opportunity?

If listed only as Task, what would that do to PX1 shareholders and the SP?

[Balance]

IT costs from existing client activities also increased by 40% versus last year

15 years working in the technology industry, this is quite a significant issue that they need to resolve. This tells me there was a lot of rework (defects) to make things work for their customers.

Good luck to holders, I will be keeping an eye on their future reporting to see if they improve on their growth execution before dipping my toes in.

McD deal is bleeding PX1 and will continue to bleed the company until the Plexure side of the business is gutted.

[whatsup]

What the muck have the fish heads been doing over the last couple of years , Phi! please explain !!?

[Checkmate]

Definitely going to tune in to the call… we need more information on the mix of revenues here. $14m total revenue combined for 6 months…?? WTF! Sounds like TASK team are going to restructure this shipwreck though so that’s good at least.

[Maxtrade]

Definitely going to tune in to the call… we need more information on the mix of revenues here. $14m total revenue combined for 6 months…?? WTF! Sounds like TASK team are going to restructure this shipwreck though so that’s good at least.

When is the call?

[LoungeLizzard]

Not much to cheer about, but going forward Plexure's culture, strategy and management will be superceded by TASK's, which has a much better pedigree and ability to deliver. I'm not prepared to press the eject button just yet - but the next 6 months will need to show improvement on all fronts.

[bullfrog]

The operational review has concluded that the previous strategy has not
generated material sales, and is no longer relevant in a group which has a
broad, state-of-the-art platform in the combined TASK + Plexure offering.

New broom really shaking it up. Encouraging proof of concept with the Pita Pit contract, both in increased scope and time extension. TASK knew about the $8.5m loss before merger, and still went ahead. The reasons for the merger haven't changed, costs due to restructure are a given and some nice contract wins over the last 3 mths.

This contract has now been revised and extended to include the full TASK technology stack, highlighting the benefits of the joint Group capabilities. Importantly, the combined TASK + Plexure platform is able to be deployed at significantly lower cost than the original Plexure-only offering due to the benefits of a single integrated solution. The extended contract (from 3 to 5 years) includes the addition of POS and kiosk services, kitchen video, digital signage, third party delivery aggregations (e.g. uber eats), online ordering, loyalty and a mobile app.

Seems to me that it's a SAAS that companies want and it's scaleable. Now they need the right team, and we all know what operational reviews and internal consultations are all about.

[Balance]

HE who laughs last, laughs the loudest.


Caution :

PLX made a loss in H2.

And they were still recruiting to service the McD contract. So costs are going to increase in H1 2021.

Seen too many of these type of deals in the past - IBM was infamous for sucking small service provider contractors dry before picking them up for a song, or simply allowing them to fall by the wayside after completion of contracts.

Then there’s Wynyard and Provenco - heaps of long tail contracts requiring extensive servicing & support which ended up bankrupting both.

Better hope that PLX’s McD contract is different! 😳


B S Bal, can you ever admit you got this one wrong, let it go and get back to MMH !

ps there is another back door listing that you haven't rubbished and slagged off, MEE , and your old friends are all over that one!!


Balance's comments re customers are a distraction and reflect his bias.

Sure PLX may have been strongly linked to McD customers at one stage. But this will change as other clients grow and PLX's contracts evolve. Here's some pertinent comment from the just released AR.

The Company’s revenue from contracts with customers of $25.251m does not directly correlate to our user numbers. This is because over 87% of the Company’s revenue from contracts with customers is linked to contracts that were signed in 2014 with pricing mainly based on store numbers. Only a small percentage of FY20 revenue from contracts with customers is linked to consumer usage. In 2019, this pricing model was changed with new customer contracts being based on digital adoption, which will mean that as consumer usage grows so too will the Company’s revenue from contracts with customers.

From this we can deduce that future revenues will more accurately reflect customer and usage numbers. Plus with user numbers set to increase from 187mill to 500 mill, there will be increased benefits of scale.

https://www.sharetrader.co.nz/showthread.php?8888-PX1-Plexure-Group-Limited/page346

[pg0220]

Importantly, the combined TASK + Plexure platform is able to be deployed at significantly lower cost than the original Plexure-only offering due to the benefits of a single integrated solution.
TASK seems to have a significantly better product developed with good standards and practices and that can help Plexure from bleeding so much. It's also good that Plexure now knows that their previous expand strategy didn't work and want to review operations.

[Balance]

TASK seems to have a significantly better product developed with good standards and practices and that can help Plexure from bleeding so much. It's also good that Plexure now knows that their previous expand strategy didn't work and want to review operations.

They are stuck with the McD contract.

[pg0220]

HE who laughs last, laughs the loudest.

:D:D:D
Bal is a good guy with good insights. What do you think about TASK?

[RupertBear]

[QUOTE=Balance;925536]HE who laughs last, laughs the loudest.

Didnt think it would take long for you to come out gloating

gloating

/ˈɡləʊtɪŋ/


adjective


dwelling on one's own success or another's misfortune with smugness or malignant pleasure.

[Balance]

[QUOTE=Balance;925536]HE who laughs last, laughs the loudest.

Didnt think it would take long for you to come out gloating



[/COLOR]

No - just a reminder of all the comments made by certain posters who thought they were so clever, when I cautioned about the McD contract.

I lost money with Provenco and do not wish others to experience the same with Plexure.

Fair enough?

[pg0220]

They are stuck with the McD contract.
Yeah I actually don't care about Plexure.

[bullfrog]

Interesting there was a sell off to 0.455 last Friday

[bull....]

i mentioned last quarter that there sales growth was slowing ( mainly to deaf ears and redicule lol ) but now we have the facts and its true. the aus institutions dont want to support a full listing so thats a big negative , tech sell - off in US , slowing growth so im with you winner expect a not so happy day for holders.
the fact they didnt announce pricing for the cap raise means they might be expecting a savage day for the stock following there result so investors will only partipate at lower prices

i see things havnt improved , glad i sold near the highs

[tango]

i see things havnt improved , glad i sold near the highs

Wish I could say the same!

I think the new management will be better but the process of bedding down the new management and whether they will remain listed on the ASX or NZX creates a lot of uncertainty. It's also a matter of whether the new management are accepted by the Plexure crew
Time to kick the Chair into touch and upgrade the Board

[winner69]

Bring back Herbie

[Balance]

Bring back Herbie

Don’t be unkind.

He along with a few other executives who resigned left to spend quality time with family, remember?

[pg0220]

Bring back Herbie
Why do you miss Mr Herbinson?

[LoungeLizzard]

[QUOTE=Balance;925536]HE who laughs last, laughs the loudest.

Not sure if this is the last laugh. Check-in in 6-12 months and see how thing are then.

[LoungeLizzard]

[QUOTE=RupertBear;925543]

No - just a reminder of all the comments made by certain posters who thought they were so clever, when I cautioned about the McD contract.

I lost money with Provenco and do not wish others to experience the same with Plexure.

Fair enough?

Tone is everything mate. If you say you're laughing loudest at what may (or may not) be Plexures demise, then that doesn't come across well. Personally I didn't think this result would be good anyway, it will take a while for TASK and their people to have an effect. Next 6-12 months will decide on where the new organisation is heading.

[porkandpuha]

HE who laughs last, laughs the loudest.

https://www.sharetrader.co.nz/showthread.php?8888-PX1-Plexure-Group-Limited/page346

One thing we do know... If its a red day for a company, we can guarantee Balance will be on the appropriate ST thread trying to start a biggest schlong competition.

[Balance]

One thing we do know... If its a red day for a company, we can guarantee Balance will be on the appropriate ST thread trying to start a biggest schlong competition.

Told you so like I told you so about ATM.

Ouch!

Ouch ouch.

[Justin]

[QUOTE=Balance;925545]

Tone is everything mate. If you say you're laughing loudest at what may (or may not) be Plexures demise, then that doesn't come across well. Personally I didn't think this result would be good anyway, it will take a while for TASK and their people to have an effect. Next 6-12 months will decide on where the new organisation is heading.

If Task can solve any problem and why they are still struggle on tiny profit by themselves before acquisition？

[BlackPeter]

[QUOTE=LoungeLizzard;925603]

If Task can solve any problem and why they are still struggle on tiny profit by themselves before acquisition？

Look what you did ... you silenced the cheerleaders. How can you ask such a difficult question?

[winner69]

[QUOTE=LoungeLizzard;925603]

If Task can solve any problem and why they are still struggle on tiny profit by themselves before acquisition？

That was my first thought when merger was announced ….. Task took 20 years to grow revenues to $14m …..wtf

And now we pray for miracles to happen.

[Baa_Baa]

That was my first thought when merger was announced ….. Task took 20 years to grow revenues to $14m …..wtf

And now we pray for miracles to happen.

Plex re-affirms guidance $45-$47 million (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/PX1/383022/359471.pdf). That's saying H2 going to be massive, or a miracle however you want to consider it.

[carpfish]

H2 will be including revenue from Task, where as H1 has only included revenue from Plexure as they were not merged during H1

[winner69]

Bit embarrassing and even bewildering……hard to believe there was such a ‘misunderstanding’ between CEO and CFO ………..a cynic might think that they were actually had withdrawn guidance but then realised there would be a HUGE market reaction if they did.

Plexure Group Limited (NZX/ASX:PX1) (Plexure) wishes to confirm that its previously advised revenue guidance for FY22 of $45 – 47 million remains in place. In the investor call this morning the CFO made an error in responding to a question that guidance was being withdrawn.

[Balance]

[QUOTE=LoungeLizzard;925603]

If Task can solve any problem and why they are still struggle on tiny profit by themselves before acquisition？

The pertinent question to ask as well is this - if TASK is such a shxt hot company, why hasn’t it listed on the ASX by itself given the demand for IPOs over there?

I certainly would not trust Plexure’s ability to spot a good business given how completely they have screwed up the company and shareholders in the process. The CR at $1.20 a year ago with all the lofty promises made to raise the funds must rank as one of the biggest flops of dual ASX listings!

[Balance]

ForBarr initiating coverage of the firm with an ‘outperform’ rating and a $1.58 target price.
“PX1 is exposed to an ongoing thematic shift which has seen global advertising expenditure recycled into mobile and desktop solutions, away from more traditional print channels such as newspaper and magazine,” analysts Jamie Foulkes and Ashton Olds wrote.
The stock was a “compelling buying opportunity” for a patient investor willing to wait out lumpy revenue growth, they said.

Think Forbar still has a $1.58 valuation on Plexure?

Would make it one of the most compelling buy on the market!

[LoungeLizzard]

[QUOTE=Justin;925656]

Look what you did ... you silenced the cheerleaders. How can you ask such a difficult question?

It's not a difficult question - most people have day jobs and don't spend all day on here.

TASK is not guaranteed to turn things around but they are a better proposition than Plexure on it's own, who would have went under otherwise. I didn't invest in Plexure but I looked at TASK as a separate entity and thought it was worth the punt. I still think that. There's many here- you may be one - who try and analyse relatively young business's using the wrong metrics. TASK have a good product, a good plan, have potential and good people. The 4 P's of early investing.

I expected this first set of results to be poor and perhaps the next one as well. The overhang from PLexure will take a while to deal with. In 12 months time it could be a turnaround story. Or not. I wouldn't- and haven't - put my shirt on it , but as I say, I think they are worth a punt. Their first job should be to drop the Plexure name and rebrand.

[LoungeLizzard]

[QUOTE=Justin;925656]

The pertinent question to ask as well is this - if TASK is such a shxt hot company, why hasn’t it listed on the ASX by itself given the demand for IPOs over there?

I certainly would not trust Plexure’s ability to spot a good business given how completely they have screwed up the company and shareholders in the process. The CR at $1.20 a year ago with all the lofty promises made to raise the funds must rank as one of the biggest flops of dual ASX listings!

I'm assuming that's a rhetorical question - no-one has a crystal ball. In the meantime, Plexure and their chequered history (did you get scorched?) is just that - history. It's up to TASK now - they are in charge, not Plexure, who are dead in all but name. Hopefully they will be dead in name after a re-brand. We'll see in 12 months time if TASK are indeed up to the task.

[Balance]

https://www.nzx.com/announcements/374144

https://www.nzx.com/announcements/376711

Next time you see the CFO & CEO both resigning (to spend more time with their family) within 6 weeks of each other, you know it's time to run too!

[Balance]

[QUOTE=Balance;925714]

I'm assuming that's a rhetorical question - no-one has a crystal ball. In the meantime, Plexure and their chequered history (did you get scorched?) is just that - history. It's up to TASK now - they are in charge, not Plexure, who are dead in all but name. Hopefully they will be dead in name after a re-brand. We'll see in 12 months time if TASK are indeed up to the task.

No crystal ball indeed but history & experience to learn lessons from, and apply in the present for the future.

[winner69]

I still think it weird that the CFO suggested guidance was being withdrawn and then being told he was incorrect…and had stuffed up big time.

All you can make of it is that the guidance of revenues of $45m to $47m is crap and at the end of the year will be reporting a lot less than $45m

[Cobber]

https://www.nzx.com/announcements/374144

https://www.nzx.com/announcements/376711

Next time you see the CFO & CEO both resigning (to spend more time with their family) within 6 weeks of each other, you know it's time to run too!

The only winners in any of this was the TASK owners. Plexure did a capital raise, took your money to pay them to take this pile of sh!t (Plexure) off their hands.

Glad I sold out at $1.35. The writing was on the wall back then.

[Balance]

I still think it weird that the CFO suggested guidance was being withdrawn and then being told he was incorrect…and had stuffed up big time.

All you can make of it is that the guidance of revenues of $45m to $47m is crap and at the end of the year will be reporting a lot less than $45m

Right hand does not know what the left hand is doing.

Sp was actually started to stabilize down at around 46.5c before this announcement that the CFO stuffed up.

Then, renewed selling took it down to close at the day's low of 45c.

[Nor]

Who was that genius who suggested at the time of the MacDonald's deal that it was likely to take up more resources than it was worth? Can't remember. Not a holder. Sometimes it's an advantage to have missed the boat.

[BlackPeter]

[QUOTE=Justin;925656]

That was my first thought when merger was announced ….. Task took 20 years to grow revenues to $14m …..wtf

And now we pray for miracles to happen.

Well, we should not forget that Task have been incredibly successful in selling their quite mediocre business for a huge amount of money to PX1 and on top of that securing the best paid job at the top of the new company.

Only thing shareholders now need to hope for is that PX1 was not the biggest fool. Just hope for the bigger fool to pop buy and sell them the company!

[Balance]

Genius is a bit strong but experience in this investing game matters - something that some posters here think is irrelevant.


Who was that genius who suggested at the time of the MacDonald's deal that it was likely to take up more resources than it was worth? Can't remember. Not a holder. Sometimes it's an advantage to have missed the boat.


I have seen big companies like IBM put money (yes, that's the correct term - rather than investing) into small companies so that these companies continue to develop the software & service for them - until the inevitable happens.

Suggest some of you do a bit more research into why a multi-billion corporation like Maccas put a piddly $5m (rounding difference) into a company.


Why pay full price when you have got the software development & servicing contract at 'bargain' price?

Seen it all before.

[Balance]

[QUOTE=winner69;925662]

Well, we should not forget that Task have been incredibly successful in selling their quite mediocre business for a huge amount of money to PX1 and on top of that securing the best paid job at the top of the new company.

Only thing shareholders now need to hope for is that PX1 was not the biggest fool. Just hope for the bigger fool to pop buy and sell them the company!

As Kerry Packer famously said when he sold his media business to Alan Bond for an eye watering price : "You only get one Alan Bond in your lifetime, and I have had mine."

[pg0220]

Who was that genius who suggested at the time of the MacDonald's deal that it was likely to take up more resources than it was worth? Can't remember. Not a holder. Sometimes it's an advantage to have missed the boat.
Tbh, I am not sure if it is the contract itself that made Plexure bleed from servicing Maccas, but I think it was more related to how Plexure built their products. Heard from friends used to work there.

[tango]

This whole thing stinks. Mostly I am annoyed with myself for not selling all of my shares because I knew that Phil Norman wasn't up to the job. I sold some shares at a small loss but should have sold all of them long ago. Phil Norman had the good luck to be with Xero but IMO he couldn't find his way out of a paper bag.

Now we have this colossal mess. TASK is a good solid mom and pop business and may fit well with Plexure but no thought has gone into integrating it and the grandiose plans of Phil and Craig are now coming home to roost. I believe Dan is a great manager of TASK but the skills to develop software and to maintain and grow a solid business are not the same skills required to trouble shoot and sort out the mess that Plexure/TASK is in. I'm not sure he's up to the job. Maybe he will be able to make the tough decisions, bring the team together and get them on track. However, at this point it doesn't look good and I will be looking for an exit around 50 cents and put my money into IFT

If we had enough votes I would be recommending a motion for a vote of no confidence in the board. A giant clusterf*ck

[tango]

Tbh, I am not sure if it is the contract itself that made Plexure bleed from servicing Maccas, but I think it was more related to how Plexure built their products. Heard from friends used to work there.

We want all the inside info!

[bullfrog]

It seems that McD tried the PX1 solution, and still sitting on the fence about whether to move forward with them, not a good place for PX1 to be. That told the market that the PX1 option is nothing special, and if you're not special you're history in mobile apps. Along came TASK, and now they might have something special. "This presents a ground-breakingand industry-first opportunity to linkrestaurant operations with customerpersonalisation."

If they have the right team that builds a bug free SAAS product, they may have stumbled on an uber product that the industry needs.

Then again every developer has a ground-breaking industry-first app.

Buy your tickets for the roller coaster, management takes no responsibility for mental trauma caused by the ride. :)

[Cobber]

It seems that McD tried the PX1 solution, and still sitting on the fence about whether to move forward with them, not a good place for PX1 to be. That told the market that the PX1 option is nothing special, and if you're not special you're history in mobile apps. Along came TASK, and now they might have something special. "This presents a ground-breakingand industry-first opportunity to linkrestaurant operations with customerpersonalisation."

If they have the right team that builds a bug free SAAS product, they may have stumbled on an uber product that the industry needs.

Then again every developer has a ground-breaking industry-first app.

Buy your tickets for the roller coaster, management takes no responsibility for mental trauma caused by the ride. :)


$120 million. I can't remember why this number stands out so much... LOL... maybe it was the cost of convincing a well run privately owned company to take a calculated risk going public by backdooring via Plexure.

First thing they need to do is a Steve Jobs and fire the Board. They clearly have no clue.

[Cobber]

[QUOTE=winner69;925662]

Well, we should not forget that Task have been incredibly successful in selling their quite mediocre business for a huge amount of money to PX1 and on top of that securing the best paid job at the top of the new company.

Only thing shareholders now need to hope for is that PX1 was not the biggest fool. Just hope for the bigger fool to pop buy and sell them the company!

The only reason they were successful was due to how desparate the board at Plexure was to bail out once they knew their 2 year strategy to go global failed miserably. And not only that... their business plan didn't cover rising IT costs as client traffic increased.

Guys, this is school boy stuff. It's laughable.

[Cobber]

Plex re-affirms guidance $45-$47 million (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/PX1/383022/359471.pdf). That's saying H2 going to be massive, or a miracle however you want to consider it.

The revenue guidance is almost moot at this point. How big is the loss going to be??

[Balance]

[QUOTE=BlackPeter;925815]

The only reason they were successful was due to how desparate the board at Plexure was to bail out once they knew their 2 year strategy to go global failed miserably. And not only that... their business plan didn't cover rising IT costs as client traffic increased.

Guys, this is school boy stuff. It's laughable.

The plexure crowd will swallow anything!

Fool you once, shame on the company.

Fool you twice, shame on you!

[Cobber]

It seems that McD tried the PX1 solution, and still sitting on the fence about whether to move forward with them, not a good place for PX1 to be. That told the market that the PX1 option is nothing special, and if you're not special you're history in mobile apps. Along came TASK, and now they might have something special. "This presents a ground-breakingand industry-first opportunity to linkrestaurant operations with customerpersonalisation."

If they have the right team that builds a bug free SAAS product, they may have stumbled on an uber product that the industry needs.

Then again every developer has a ground-breaking industry-first app.

Buy your tickets for the roller coaster, management takes no responsibility for mental trauma caused by the ride. :)

McD exiting Plexure is actually a massive undertaking. We can now see why it's taking awhile for McD renew the contract. Plexure costs for the programme have gone up significantly.

So the question for McD is how much value is Plexure returning in terms of sales I guess. Does revenue generated exceed the new cost structure Plexure is asking.

On the flipside.... Plexure will also be wondering how they can reduce IT costs. Did they really need to capture and store all of that data for McD??

What a mess.

[winner69]

[QUOTE=Cobber;925933]

The plexure crowd will swallow anything!

Fool you once, shame on the company.

Fool you twice, shame on you!

Starting to look like Provenco and SMS as each week passes

You mentioned 'experience' earlier .... very important that eh mate

[Balance]

$120 million. I can't remember why this number stands out so much... LOL... maybe it was the cost of convincing a well run privately owned company to take a calculated risk going public by backdooring via Plexure.

First thing they need to do is a Steve Jobs and fire the Board. They clearly have no clue.

$120m = EBITDA multiple of 50 times.

$30m cash = EBITDA multiple of 12.5 times.

TASK shareholders received a very nice early Christmas gift from Plexure.

[pg0220]

McD exiting Plexure is actually a massive undertaking. We can now see why it's taking awhile for McD renew the contract. Plexure costs for the programme have gone up significantly.

So the question for McD is how much value is Plexure returning in terms of sales I guess. Does revenue generated exceed the new cost structure Plexure is asking.

On the flipside.... Plexure will also be wondering how they can reduce IT costs. Did they really need to capture and store all of that data for McD??

What a mess.

Storage costs tiny bucks these days and data kept is actually a valuable asset. I think it is how they process data that gets more and more expensive, which is to do with the design.

[tango]

Storage costs tiny bucks these days and data kept is actually a valuable asset. I think it is how they process data that gets more and more expensive, which is to do with the design.

Agreed. The biggest costs are the people and maintaining offices. Now they effectively have 2 head offices they will be slashing admin staff. The question is will they make their head office in Australia or New Zealand?

[tango]

Plexure must have had a good idea that things were turning to custard at the time of the capital raising. I have big questions about the integrity of their offering and the supporting documentation. I have zero faith in the board.

[Balance]

Plexure must have had a good idea that things were turning to custard at the time of the capital raising. I have big questions about the integrity of their offering and the supporting documentation. I have zero faith in the board.

CEO & CFO left in June & August this year after raising the money last year.

That says it all imo.

[tango]

CEO & CFO left in June & August this year after raising the money last year.

That says it all imo.

Craig was a key player in the grandiose expansion plan. He was part of the problem.

The new CFO hasn’t covered himself in glory

[pg0220]

Craig was a key player in the grandiose expansion plan. He was part of the problem.

The new CFO hasn’t covered himself in glory
I actually think he was big part of the problem.

[tango]

I actually think he was big part of the problem.

We are on the same page. Chris and Phil Norman were imagining they were going to be the next Xero.I like big ambitions. However, they were expanding before they had the basics right and didn’t have a streamlined sales process.

I think Dan is a much steadier hand and having been involved in building up a business from scratch is going to be more systematic. But sorting out this mess is a different skill set. He will need to step up and it won’t be easy

[pg0220]

We are on the same page. Chris and Phil Norman were imagining they were going to be the next Xero.I like big ambitions. However, they were expanding before they had the basics right and didn’t have a streamlined sales process.

I think Dan is a much steadier hand and having been involved in building up a business from scratch is going to be more systematic. But sorting out this mess is a different skill set. He will need to step up and it won’t be easy
Yep. Also I don't think Craig has a technical background and he might have looked over a lot of technical stuff of the product which is a Plexure's fundamental base before all the sales and new customers and so on.

[na2m1]

Share price is dipping to below 40c. Might be a potential discount maybe?

[winner69]

Right hand does not know what the left hand is doing.

Sp was actually started to stabilize down at around 46.5c before this announcement that the CFO stuffed up.

Then, renewed selling took it down to close at the day's low of 45c.

I think that the CFO has shattered any confidence that anybody had in the company ….what a debacle as share price slides into the 30s

wonder if revenues will even get to $40m .."with a huge loss.

[Baa_Baa]

So Craig has been feeding the Ask, still has heaps though some small satisfaction that he’s been unloading into low bids.

[pg0220]

Craig is cursing PX1. Obviously he was let spend quality time with family and be CEO of himself (see Linkedin) by Phil.

[dreamcatcher]

This bizarre box moving has mopped up 9m shares last few weeks..... someones cunning game plan eh? :confused:

[Maxtrade]

Share price is dipping to below 40c. Might be a potential discount maybe?

It's all relative. It's a huge 'discount' from $1.20 prior Cap Raise. It's also a good buying opportunity discount from the most recent cap raise. Where the lower end trough forms is really a guess in todays market as traders can swing and influence the SP pretty strongly. Yes it may well be 0.40 cents finds a support level. Where ever the trough forms and support kicks in will likely see a 20% bounce press soon to follow as bargain hunters realise the run around and jump back in. Would likely push SP back up to 0.60 which is the price Plexure assigned Task share as part of the deal. When will this happen, anyones guess really. I suspect either of 2 scenarios. 1 this happens when Task starts making more positive moves in restructuring the company and they can progress with their customers. Or 2 when the market/traders feel a bottom has formed and jump back in to catch the upswing. For those that have acquired shares at an SP considerably more than what it currently is, it would be better to wait for the rehearsal and SP to head north of 0.60 rather than sell for a loss. Sometimes a steady hand can lead to better outcomes rather than fear pushing sell orders and driving SP lower.

Disclaimer holding for the reversal, buying on the dips, topping up at these levels, sub 0.40 definitely a buying opportunity especially if willing to sit and wait 6-12 months to give Task benefits materialise. Task won't be happy to see their shares which were factored in at 0.60 being valued at 0.45 today. They will want to get things rolling and make some positive announcements within the next coming months to turn that around.

Whats the old saying, buy after bad news when fear has SP low, Sell after good news when the ship is steaming ahead. Those traders that seem to do well have the timing right.

[Cobber]

It's all relative. It's a huge 'discount' from $1.20 prior Cap Raise. It's also a good buying opportunity discount from the most recent cap raise. Where the lower end trough forms is really a guess in todays market as traders can swing and influence the SP pretty strongly. Yes it may well be 0.40 cents finds a support level. Where ever the trough forms and support kicks in will likely see a 20% bounce press soon to follow as bargain hunters realise the run around and jump back in. Would likely push SP back up to 0.60 which is the price Plexure assigned Task share as part of the deal. When will this happen, anyones guess really. I suspect either of 2 scenarios. 1 this happens when Task starts making more positive moves in restructuring the company and they can progress with their customers. Or 2 when the market/traders feel a bottom has formed and jump back in to catch the upswing. For those that have acquired shares at an SP considerably more than what it currently is, it would be better to wait for the rehearsal and SP to head north of 0.60 rather than sell for a loss. Sometimes a steady hand can lead to better outcomes rather than fear pushing sell orders and driving SP lower.

Disclaimer holding for the reversal, buying on the dips, topping up at these levels, sub 0.40 definitely a buying opportunity especially if willing to sit and wait 6-12 months to give Task benefits materialise. Task won't be happy to see their shares which were factored in at 0.60 being valued at 0.45 today. They will want to get things rolling and make some positive announcements within the next coming months to turn that around.

Whats the old saying, buy after bad news when fear has SP low, Sell after good news when the ship is steaming ahead. Those traders that seem to do well have the timing right.

I think I'll wait for confirmation that McDonalds has signed the new contract before jumping back in. There's about 25 million in revenue right there. Although based on increased IT costs I'd guess that would have to increase substantially.

[Justin]

It's all relative. It's a huge 'discount' from $1.20 prior Cap Raise. It's also a good buying opportunity discount from the most recent cap raise. Where the lower end trough forms is really a guess in todays market as traders can swing and influence the SP pretty strongly. Yes it may well be 0.40 cents finds a support level. Where ever the trough forms and support kicks in will likely see a 20% bounce press soon to follow as bargain hunters realise the run around and jump back in. Would likely push SP back up to 0.60 which is the price Plexure assigned Task share as part of the deal. When will this happen, anyones guess really. I suspect either of 2 scenarios. 1 this happens when Task starts making more positive moves in restructuring the company and they can progress with their customers. Or 2 when the market/traders feel a bottom has formed and jump back in to catch the upswing. For those that have acquired shares at an SP considerably more than what it currently is, it would be better to wait for the rehearsal and SP to head north of 0.60 rather than sell for a loss. Sometimes a steady hand can lead to better outcomes rather than fear pushing sell orders and driving SP lower.

Disclaimer holding for the reversal, buying on the dips, topping up at these levels, sub 0.40 definitely a buying opportunity especially if willing to sit and wait 6-12 months to give Task benefits materialise. Task won't be happy to see their shares which were factored in at 0.60 being valued at 0.45 today. They will want to get things rolling and make some positive announcements within the next coming months to turn that around.

Whats the old saying, buy after bad news when fear has SP low, Sell after good news when the ship is steaming ahead. Those traders that seem to do well have the timing right.

Better check the market cap 148 millions under 42cent per share, do you think it’s bargain? because after last cap raise , they issued lots of new shares to dilute the old shares.

[tango]

So Craig has been feeding the Ask, still has heaps though some small satisfaction that he’s been unloading into low bids.

I confess I smiled to myself when I saw that. He either desperately needs the money and can't wait for it to bounce back or has lost faith that it ever will.

I look back on that presentation that Phil and the board did on the TASK merger and talking up the companies and feel it was in bad faith. If it wasn't for the fact that it would tank the share price even more I would suggest a law suit because there is no doubt some of this was known.

[tango]

Craig is cursing PX1. Obviously he was let spend quality time with family and be CEO of himself (see Linkedin) by Phil.

LOL "CEO of Self" for 4 months.
Very good.


Yep. Also I don't think Craig has a technical background and he might have looked over a lot of technical stuff of the product which is a Plexure's fundamental base before all the sales and new customers and so on.

Could be. I think the long lead time for each sale was an obstacle that was frequently dismissed as inconsequential when questioned at AGMs. Having said that Plexure have some great customers and testimonials. They have failed to capitalise on them and haven't expanded into other market segments but the potential is there with the right leadership.

I also think Craig and Phil expected the ASX listing to propel them into the big leagues and miscalculated big time on that. The Aussies invested but they didn't get overly excited about the listing.

[tango]

PX1 still dropping! I thought it might have hit its bottom but it looks like it's going down to 40 cents. Hopefully that's because Craig is dumping shares at market and things will bounce back in a couple of days.

[winner69]

PX1 still dropping! I thought it might have hit its bottom but it looks like it's going down to 40 cents. Hopefully that's because Craig is dumping shares at market and things will bounce back in a couple of days.

Hope reigns eternal

Be in 30's for a while .....then possibly the 20s

[tango]

Hope reigns eternal

Be in 30's for a while .....then possibly the 20s

I don’t see it getting down to the 20s unless the whole market crashes. But the market is out of love with Plexure and Craig is dumping large volumes on the market so 35-36 is possible

[pg0220]

I don’t see it getting down to the 20s unless the whole market crashes. But the market is out of love with Plexure and Craig is dumping large volumes on the market so 35-36 is possible
Craig's revenge goes on and on....

[tango]

Craig's revenge goes on and on....
It’s a costly revenge for him!

Clearly he has no friends on the inside to give him a heads up bad news is coming. Glad to see there were no leaks but I’m surprised he wasn’t in the know. Maybe this was Phil’s revenge on Craig?

[BlackPeter]

PX1 still dropping! I thought it might have hit its bottom but it looks like it's going down to 40 cents. Hopefully that's because Craig is dumping shares at market and things will bounce back in a couple of days.

I hate to say it, but hope is not a good investment strategy.

You need to identify whether there are any points which make Plexure a more promising investment than any other you could make at the moment. What is it? Great (and proven) management and board? Best ever story? Consistently keeping their promises and hitting their targets? Do they have a moat and sit in a market which only can go upwards? Do they actually make money and are likely to repeat this year after year?

If the answer to more than one of these questions is "no" - than they are likely to end up together with the other 95% of startups who are losing on the junk heap of history.

The only thing real will be then the huge amount of shareholder funds they burned getting there.

So - if you really understand the industry and the company (better than the market) - by all means, go for it if the indicators look great. However - if you are just a punter hoping that every dropping startup will come right again just because it is dropping, than your odds are not looking good. Actually - they might look better if you sell out and buy a Lotto ticket instead ... with the latter you know at least that you have (in average) a 50% chance to get your money back.

[tango]

I hate to say it, but hope is not a good investment strategy.

You need to identify whether there are any points which make Plexure a more promising investment than any other you could make at the moment. What is it? Great (and proven) management and board? Best ever story? Consistently keeping their promises and hitting their targets? Do they have a moat and sit in a market which only can go upwards? Do they actually make money and are likely to repeat this year after year?

If the answer to more than one of these questions is "no" - than they are likely to end up together with the other 95% of startups who are losing on the junk heap of history.

The only thing real will be then the huge amount of shareholder funds they burned getting there.

So - if you really understand the industry and the company (better than the market) - by all means, go for it if the indicators look great. However - if you are just a punter hoping that every dropping startup will come right again just because it is dropping, than your odds are not looking good. Actually - they might look better if you sell out and buy a Lotto ticket instead ... with the latter you know at least that you have (in average) a 50% chance to get your money back.

The only reason I’m hoping the price comes back up is because I already have my shares up for sale. Slightly above the current price and hoping not to drop my ask.

I liked the company a couple of years ago but since then they have over promised and under delivered. The merger looked promising although there are always fishhooks integrating two companies

IMO the current management are not up to scratch. I think the CEO is solid but he has no experience in trouble shooting. His skills at running TASK are not the same as the skills needed to fix this mess. He may be up to the task, he may not. I am underwhelmed by the CFO and the Chair. The Board seem to lack conviction. They were very slow to buy in and back the company. I have all the information I need. I am out.

It may be that things change in the future and that the new CEO is able to get a good handle on things and sort it out but he’s got a big job ahead of him and I will not be waiting around to see how he does but I wish him all the best.

[BlackPeter]

The only reason I’m hoping the price comes back up is because I already have my shares up for sale. Slightly above the current price and hoping not to drop my ask.

I liked the company a couple of years ago but since then they have over promised and under delivered. The merger looked promising although there are always fishhooks integrating two companies

IMO the current management are not up to scratch. I think the CEO is solid but he has no experience in trouble shooting. His skills at running TASK are not the same as the skills needed to fix this mess. He may be up to the task, he may not. I am underwhelmed by the CFO and the Chair. The Board seem to lack conviction. They were very slow to buy in and back the company. I have all the information I need. I am out.

It may be that things change in the future and that the new CEO is able to get a good handle on things and sort it out but he’s got a big job ahead of him and I will not be waiting around to see how he does but I wish him all the best.

Fair enough ... and yes, a temporary rebound is certainly in the realm of possibilities.

Anyway - good luck with that and for your next investment!

[Bob50]

Directors getting some shares (https://www.nzx.com/announcements/381064) while the price is so low, must know something good is coming ;)

These directors must have got these shares for a reason.

[tango]

These directors must have got these shares for a reason.

That's an old disclosure 15/10/2021.

There was a question at the last AGM about directors not owning shares in the company and the board said that would be rectified in the near future. It looks like most made good on that promise at what appeared to be an attractive offer of 52 cents.

[Baa_Baa]

These directors must have got these shares for a reason.

Management too, like why would the money man buy more shares in the company recently when he's already getting paid to do his job? Insight?

People are quick to shoot the the BOD and management, five minutes after they've saved the company.

[Justin]

Seems like McDonald’s didn’t keen to the new merged company as well, they did not attend to recent cap raise, their share percentage in plexure dropped from 9.9% to 4.65%

[pg0220]

Seems like McDonald’s didn’t keen to the new merged company as well, they did not attend to recent cap raise, their share percentage in plexure dropped from 9.9% to 4.65%







In FY2021 annual report, Maccas had 16,423,629 shares. I see in the company register that they hold 20,383,629 shares now.

[Maxtrade]

Hope reigns eternal

Be in 30's for a while .....then possibly the 20s

Thing about these forums is there will always be those who see opportunity where those who see otherwise. When Covid hit and the markets tanked PX1 SP crashed down (with all other stocks) and found a key support level about where it is now. The fear that March 2020 bought to the markets forced stocks down to their lowest levels and have since across the board bounced back up. With the recent drop in PX1 SP now hitting these pandemic lows there is a reason for argument that this will be at the key support level and looks to possibly be forming a low end trough as we speak. If it didn't fall past this point when the world was going crazy and markets tanking due to China/Covid onset scare and first lockdowns, then it seems unlikely what's going on now will push it lower than that!

Still feel will see a rally up to 0.60 task acquisition deal price to follow. Don't have the crystal ball for the timing exactly yet or what the key catalyst will be. Maybe Feb/March, time for Task to show some directional improvements. Combined with slow opening up of NZ from our tight locked boarders. General positivity Feb/March would be where I would look to.

I wouldn't sell for a loss just yet Tango. A steady hand might actually see a profit turned rather than realising any loss. That is unless you need the funds of course. The downside is being forced to sell at a low level like where it is now. Hopefully those funds aren't 'needed' right now and can just check back in a couple of months for a rally.

The only real substantial loss I have realised was with NZR. Right when closure of Marsden was the fear. Investors sold down hard on the fear. All the negative news. " Theme was SP won't come back at all...etc". Stupidly I bought into the fear, sold a hefty loss. Now the SP has recovered substantially and would be sitting with a handsome profit if I had not sold out. Live and learn from our mistakes and experience on seeing how human traits seem to play out with stocks.

Put it this way, if only about 20 sellers were to pull their current sell orders off the market the SP would likely then rally and instantly be sitting 20% higher in the 0.50's. That's all it takes. It's only about $150,000 spread over 20 sellers, which is not much in the reality of trading shares. When you look at it like that it makes more sense how PX1 has taken some volatile moves of 15-20% recently. Guess that's how Reddit drives some of it's share movements. They have a group of traders that basically swing the market in a certain direction, all jump on board and drive a share price in a direction. Investing doesn't really seem to be entirely investing in the actual company in relatively low liquidity stocks sometimes. Anyway all just food for thought. Everyone will have their own opinion. I would like to give a chance to see what Tasks customers and new customer base provides. Will be interesting in 6 months time to compare the SP to the lows where it is sitting today at 0.40, only then will anyone be able to give a definitive answer to if this was a bargain time to take advantage of.

Any large sellers seem to have dried up now. If look at the last 5 days trading volumes and where the 0.415 level is finding resilience and has stabilised.

[Justin]

In FY2021 annual report, Maccas had 16,423,629 shares. I see in the company register that they hold 20,383,629 shares now.

i got info from https://simplywall.st/stocks/nz/software/nzx-px1/plexure-group-shares

[na2m1]

In the shareholders meeting, the management did mentioned that they are talking to Maccas in regards with their revenue. Maybe Plexure can finally go with other fast food chain companies? That would explain the reduction in share percentage

[tango]

In the shareholders meeting, the management did mentioned that they are talking to Maccas in regards with their revenue. Maybe Plexure can finally go with other fast food chain companies? That would explain the reduction in share percentage

Yes, they are negotiating with McD. Maybe McD will like the TASK technology LOL

[tango]

Thing about these forums is there will always be those who see opportunity where those who see otherwise. When Covid hit and the markets tanked PX1 SP crashed down (with all other stocks) and found a key support level about where it is now. The fear that March 2020 bought to the markets forced stocks down to their lowest levels and have since across the board bounced back up. With the recent drop in PX1 SP now hitting these pandemic lows there is a reason for argument that this will be at the key support level and looks to possibly be forming a low end trough as we speak. If it didn't fall past this point when the world was going crazy and markets tanking due to China/Covid onset scare and first lockdowns, then it seems unlikely what's going on now will push it lower than that!

Still feel will see a rally up to 0.60 task acquisition deal price to follow. Don't have the crystal ball for the timing exactly yet or what the key catalyst will be. Maybe Feb/March, time for Task to show some directional improvements. Combined with slow opening up of NZ from our tight locked boarders. General positivity Feb/March would be where I would look to.

I wouldn't sell for a loss just yet Tango. A steady hand might actually see a profit turned rather than realising any loss. That is unless you need the funds of course. The downside is being forced to sell at a low level like where it is now. Hopefully those funds aren't 'needed' right now and can just check back in a couple of months for a rally.

The only real substantial loss I have realised was with NZR. Right when closure of Marsden was the fear. Investors sold down hard on the fear. All the negative news. " Theme was SP won't come back at all...etc". Stupidly I bought into the fear, sold a hefty loss. Now the SP has recovered substantially and would be sitting with a handsome profit if I had not sold out. Live and learn from our mistakes and experience on seeing how human traits seem to play out with stocks.

Put it this way, if only about 20 sellers were to pull their current sell orders off the market the SP would likely then rally and instantly be sitting 20% higher in the 0.50's. That's all it takes. It's only about $150,000 spread over 20 sellers, which is not much in the reality of trading shares. When you look at it like that it makes more sense how PX1 has taken some volatile moves of 15-20% recently. Guess that's how Reddit drives some of it's share movements. They have a group of traders that basically swing the market in a certain direction, all jump on board and drive a share price in a direction. Investing doesn't really seem to be entirely investing in the actual company in relatively low liquidity stocks sometimes. Anyway all just food for thought. Everyone will have their own opinion. I would like to give a chance to see what Tasks customers and new customer base provides. Will be interesting in 6 months time to compare the SP to the lows where it is sitting today at 0.40, only then will anyone be able to give a definitive answer to if this was a bargain time to take advantage of.

Any large sellers seem to have dried up now. If look at the last 5 days trading volumes and where the 0.415 level is finding resilience and has stabilised.

You could well be right. I like Dan. I think he’s a smart operator but integrating 2 companies and fixing this mess requires a different set of skills. Let’s hope he’s up to the job

[Brain]

In the shareholders meeting, the management did mentioned that they are talking to Maccas in regards with their revenue. Maybe Plexure can finally go with other fast food chain companies? That would explain the reduction in share percentage
McDonalds will do what is best for McDonald’s and I do not see that Plexure have any negotiating advantage at all.

[Ggcc]

In the shareholders meeting, the management did mentioned that they are talking to Maccas in regards with their revenue. Maybe Plexure can finally go with other fast food chain companies? That would explain the reduction in share percentage

Maccas have not reduced their share percentage.

[Maxtrade]

At least 0.4 level has found support. Anything on the radar coming up that might be a driving factor for any next bit of a rally that anyone knows of?

[tango]

At least 0.4 level has found support. Anything on the radar coming up that might be a driving factor for any next bit of a rally that anyone knows of?

Given the way the overseas market have responded to omicron, PX1 is going to need a major contract win to offset this slide.

[winner69]

Given the way the overseas market have responded to omicron, PX1 is going to need a major contract win to offset this slide.

Suppose it still true but Herbie said Plexure was never going to be affected by covid

[tango]

Suppose it still true but Herbie said Plexure was never going to be affected by covid

For existing contracts it may increase revenue - unless people are in lockdown and not allowed out to pick up takeaways.

Plexure still like to have face to face meetings to close deals and TASK said they have been adversely affected by worldwide equipment shortages and shipping delays. The shipping costs and delays were starting to ease but most likely that’s not going to be the case with all this panic and closing borders

[Maxtrade]

Task has over 50 international brands and is positioned well in this Covid world with it's management platforms, point of sales, online ordering, mobile apps on a global and scalable technology stack. The benefits of this are yet to be realised by Plexure, the stock has been pretty beat up recently, probably overlooking the benefits of this acquisition yet to come. The world is slowly learning as a society we need to do the best we can to live with Covid (as we did with Influenza), while realising 2 years in we need to allow operations to resume some normality. While doing the best we can with Vaccination continued development, modification and administrations. There will be new strains every season, but that is not something to freak out over, life will go on.
Would be good if the sticky small gain traders at 0.41 cleared out the way or just increased their sells then the SP looks like it could naturally rally back up to 0.48 resistance level. Always have a few that get in the way and scare potential buyers off ;)

It would be good if the sticky small gain traders cleared out the way at 0.41 (or increased their sells at least), then the SP could naturally trend back up to high 0.4's at least. 0.48 next resistance point.

[BlackPeter]

Task has over 50 international brands and is positioned well in this Covid world with it's management platforms, point of sales, online ordering, mobile apps on a global and scalable technology stack. The benefits of this are yet to be realised by Plexure, the stock has been pretty beat up recently, probably overlooking the benefits of this acquisition yet to come. The world is slowly learning as a society we need to do the best we can to live with Covid (as we did with Influenza), while realising 2 years in we need to allow operations to resume some normality. While doing the best we can with Vaccination continued development, modification and administrations. There will be new strains every season, but that is not something to freak out over, life will go on.
Would be good if the sticky small gain traders at 0.41 cleared out the way or just increased their sells then the SP looks like it could naturally rally back up to 0.48 resistance level. Always have a few that get in the way and scare potential buyers off ;)

It would be good if the sticky small gain traders cleared out the way at 0.41 (or increased their sells at least), then the SP could naturally trend back up to high 0.4's at least. 0.48 next resistance point.

I never understand why people think that traders behaviour determines the value of a share. Longterm it is the performance of the company you need to look for and short term perhaps a good story. Not saying that the Plexure story was ever good, but whatever it is even a good story lasts only that long.

Lets face it - the only thing Plexure / Task needs to do is to deliver in the years to come a healthy revenue CAGR coupled with positive earnings.

As soon as they do this, the share price will magically increase.

So far however they delivered only meagre (for a growth company) revenue growth coupled with patchy (and growing again) losses and regular capital rises. Not good enough.

Hope is not a good investment strategy.

[Maxtrade]

Not appearing like any sellers at 0.40 finally, even after red day in the states. Positive sign SP has found it's floor. Charts starting to look more weighted on the buy side.

[Greekwatchdog]

A win to end the week..


https://www.nzx.com/announcements/384132

[Baa_Baa]

A win to end the week..


https://www.nzx.com/announcements/384132

TASK continuing a great run of new deals and customer expansions, signing up Sydney Cricket Ground (SCG) and the new Sydney Football Stadium (SFS) precinct.

The customer is Venues NSW (https://www.venuesnsw.com/#), they are a NSW Government agency incorporated under the Sporting Venues Authorities Act to manage a portfolio of sports and entertainment venues, including:



Stadium Australia
Sydney Cricket Ground
Sydney Football Stadium
Bankwest Stadium
McDonald Jones Stadium
WIN Stadium
WIN Entertainment Centre
Newcastle Entertainment Centre and Showground


Note the quote from the announcement "... The decision was bolstered, not only by TASK’s reputation as an industry leader, but also by the benefits of streamlining technology efficiencies gained by Venues NSW implementing TASK at all their other stadium venues in the state."

Less than a month ago 17 Nov, Plexure advised deals with:

Compass Group – one of the world’s largest foodservice groups and a customer of
TASK in New Zealand, has contracted to roll out TASK across Compass’ operations in
Australia;

Gloria Jeans – TASK has won the contract to provide a full solution for Gloria Jeans
operations (in excess of 50 stores) in the United States;

Sky Stadium – has contracted TASK to provide their transaction platform for the
stadium, with rollout completed by early next year;

Bakers Delight – went live in October with TOLO which it is rolling out region by region.
All New South Wales stores are now online;

Starbucks – which currently utilises TASK POS, has now contracted to TASK to drive
the Starbucks app across all stores in Australia;

Franchised Food Company – which includes Cold Rock Ice Creamery, Healthy Habits
and Pretzel World, has completed the roll out of TASK which includes POS, loyalty and
TOLO;

Retail Food Group – driving increased transaction volumes via TOLO and uber eats
integration activations across multiple brands;

Hawkesbury Racing Club – has implemented TASK across its operations; and

Pita Pit – extension to the Plexure contract to include the full TASK technology stack,
including the addition of POS and kiosk services, kitchen video, digital signage, third
party delivery aggregations (e.g. uber eats), online ordering, loyalty and mobile app.

[BlackPeter]

TASK continuing a great run of new deals and customer expansions, signing up Sydney Cricket Ground (SCG) and the new Sydney Football Stadium (SFS) precinct.

Less than a month ago 17 Nov, Plexure advised deals with:

...
(many more ....)
...

Pita Pit – extension to the Plexure contract to include the full TASK technology stack,
including the addition of POS and kiosk services, kitchen video, digital signage, third
party delivery aggregations (e.g. uber eats), online ordering, loyalty and mobile app.

So - how much money are they going to make from all these "wins"? ... or is this a case of following Pyrrhus?

[Baa_Baa]

So - how much money are they going to make from all these "wins"? ... or is this a case of following Pyrrhus?

It would be a rare thing for a technology company announcement to include revenue or profit guidance from a new contract. One thing we do know is that the merger acquisition of TASK was underpinned by confidence in the TASK 'pipeline' and projecting TASK revenues to over double in the current FY. The succession of new deals and customer expansions announced since the merger would indicate that confidence is well placed.

[Baa_Baa]

From the Simmons Report pre-merger, a TASK 2022 Revenue Forecast was provided. Note the emphasis on converting the "pipeline" to over double previous years revenue. TASK "gross margin Gross margin has ranged between 52% and 58% in the past 3 years" and included in the principle assumptions "gross margin increasing from 53% in 2021 to 63% in 2031, reflecting the increased mix of higher margin software revenue" and "EBITDA margin increasing from 18% in 2021 to 46% in 2031"

"2022 Revenue Forecast
The forecast for the 2022 financial year is for a substantial increase in revenue by
A$15.0 million (123%) to A$27.3 million.

The forecast increase is primarily driven by the expected conversion of a substantial
pipeline of opportunities. The sales pipeline is largely based on opportunities which
are either closed and in deployment, near-close or in active discussions.

A significant focus has been placed on the quality of the sales pipeline in Plexure’s
and PwC’s due diligence review of Task.

Achievement of the sales pipeline is dependent on a number of factors including
converting opportunities, timing of sales and length of deployment (particularly
impacting SaaS).

Forecast 2022 revenue consists of:

• A$10.9 million of recurring revenue from existing customers:
− software – A$8.0 million
− hardware – A$0.5 million
− services – A$2.4 million
• A$16.4 million of new pipeline revenue:
− software – A$2.7 million
− hardware – A$10.8 million
− services – A$2.9 million.

No TOLO revenue is included in the forecast."

[winner69]

From the Simmons Report pre-merger, a TASK 2022 Revenue Forecast was provided. Note the emphasis on converting the "pipeline" to over double previous years revenue. TASK "gross margin Gross margin has ranged between 52% and 58% in the past 3 years" and included in the principle assumptions "gross margin increasing from 53% in 2021 to 63% in 2031, reflecting the increased mix of higher margin software revenue" and "EBITDA margin increasing from 18% in 2021 to 46% in 2031"

"2022 Revenue Forecast
The forecast for the 2022 financial year is for a substantial increase in revenue by
A$15.0 million (123%) to A$27.3 million.

The forecast increase is primarily driven by the expected conversion of a substantial
pipeline of opportunities. The sales pipeline is largely based on opportunities which
are either closed and in deployment, near-close or in active discussions.

A significant focus has been placed on the quality of the sales pipeline in Plexure’s
and PwC’s due diligence review of Task.

Achievement of the sales pipeline is dependent on a number of factors including
converting opportunities, timing of sales and length of deployment (particularly
impacting SaaS).

Forecast 2022 revenue consists of:

• A$10.9 million of recurring revenue from existing customers:
− software – A$8.0 million
− hardware – A$0.5 million
− services – A$2.4 million
• A$16.4 million of new pipeline revenue:
− software – A$2.7 million
− hardware – A$10.8 million
− services – A$2.9 million.

No TOLO revenue is included in the forecast."

No wonder they withdrew guidance and then backtracked to reinstate it. ….revenues going to be over $50m with this news and your revelations.

TOLO not a very good product name

[Baa_Baa]

No wonder they withdrew guidance and then backtracked to reinstate it. ….revenues going to be over $50m with this news and your revelations.

These are not my 'revelations'. One would think Plexure are supremely confident to publish revenue forecast from the Simmons independent advisors report (drawing on PWC due diligence of TASK) during the merger acquisition, then issue formal revenue guidance late August, and then reaffirm revenue guidance mid November.

30 August 21

"Market Announcement – Plexure Revenue Guidance (https://www.nzx.com/announcements/378135)

Revenue Guidance
Following the recent announcement of its intention to acquire Task Retail Pty Limited of Australia and
its global subsidiaries (subject to shareholder approval), Plexure Group Limited (NZX/ASX: PX1),
wishes to confirm its revenue guidance of NZ$45 to NZ$47 million for its financial year ended 31
March 2022. This includes 12 month revenue for Plexure and the statutory 6 months of Task
revenue, assuming a transaction completion date of 1 October 2021.

Proforma Revenue
The combination brings together two companies operating on different financial year cycles. To
correctly reflect the forward value being attained by Plexure through the acquisition of Task, the
combined FY22 forecast revenue on an annualised basis is NZ$59 million. This is comprised of
Plexure’s forecast revenue for the financial year ended 31 March 2022 of $NZ30.3 million and Task’s
forecast revenue of NZ$28.7 million for the financial year ended 30 June 2022."

___________
17 November 21

"Plexure Group Limited (NZX/ASX:PX1) (Plexure) wishes to confirm (https://www.nzx.com/announcements/383022) that its previously
advised revenue guidance for FY22 of $45 – 47 million remains in place."

[Baa_Baa]

And subsequently Plexure have announced 11 new deals or extensions.

Since the date of the merger acquisition being agreed and cap raise completed, PX1 SP is down 36% to bargain basement price of $0.42 at Friday close.

[Maxtrade]

And subsequently Plexure have announced 11 new deals or extensions.

Since the date of the merger acquisition being agreed and cap raise completed, PX1 SP is down 36% to bargain basement price of $0.42 at Friday close.

Agreed. Seems many investors haven't really allowed the benefits of TASK to be realised. Likely more value investors/bargain hunters will take advantage of the current greatly reduced SP 35% discount. We topped up when bottomed at 0.40. More good news in first quarter 2022 SP will rally.

[winner69]

Well done Baabaa and max ......your efforts have made PX1 top of the leaderboard today .....the star of the NZX

Good stuff

[shwatch]

Down 40% and topped up another 25% at the bottom, TASK the savior to PX1 or the other way around?

[sb9]

Well done Baabaa and max ......your efforts have made PX1 top of the leaderboard today .....the star of the NZX

Good stuff

One or two more new wins in the short term, we could be off to previous glory. Am sure Dan is the man!!!

[winner69]

Review of todays NZX action:


However, Plexure bucked the trend and climbed 9.5% to 46 cents in the day’s biggest climb.

Investors on share forums may have driven the rise, reacting to the news that newly acquired Task had won a contract to install its transaction management platform in Sydney’s cricket and football grounds, which was announced late on Friday afternoon.

[sb9]

Solid close last eve on ASX at AU 45c. Might see it get into 50c range here on back of strong US markets overnight.