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I thought you were kidding, but apparently not. Even worse : £320k of that revenue was from sales to Daimler AG (a shareholder) and is described as "services".
by ealexhudson 5y ago
I thought you were kidding, but apparently not. Even worse : £320k of that revenue was from sales to Daimler AG (a shareholder) and is described as "services". I would love to understand the business model here, they've maintained £23M ish cash at hand since end 2017 but I'm not clear what the play here is...
- trollied 5y agoI think that £23m is just capital from issued shares. Anyway, it's certainly not viable. I guess it remains to be seen how long investors will keep on chucking money at it to keep it afloat. Filing history, if anyone else is interested: https://find-and-update.company-information.service.gov.uk/company/08430008/filing-history https://find-and-update.company-information.service.gov.uk/c...
- ealexhudson 5y agoNo, it's definitely cash and equivalents. The shareholder account is virtually £50m at this point, and they had nothing like that cash until the raises in 2017.
- mbirth 5y agoIIRC Daimler wanted to integrate w3w into their onboard navigation units.