The former is with “a leading provider of rights included music”, with the Digital Asset Registration and Transactional Tracking system – the first phase of a distributed ledger-based (DLT/Blockchain) application development – having been successfully demonstrated at B2B music event, MIDEM. There is then also an agreement with Aston Villa FC for OnSide Pro – which is to be used to manage a number of coaching sessions and community engagements.
There are no financial indicators provided, but these follow a recent “first agreement for the provision of Trust in Media’s Fanbase service to one of the UK’s largest entertainment promoters representing some major names in the music industry” and further help confidence in annual pre and post tax profits of several hundred thousand pounds by as soon as next year we suggested possible in our March share tip.
This is further the case with Tony Sanders now confirmed as permanent CEO and experienced technologist (including being the Technical Delivery Manager for BBC’s iPlayer project), Alan Simpson, joining as Chief Technology Officer.
The shares have slipped back since we last updated and there remains clear turnaround risk. However, we also reiterate that there looks some exciting potential from the current sub £3 million market cap – both speculatively (e.g. the shares have previously touched 0.7p+ on a blockchain spike) and more fundamentally (the profit potential from sound businesses in growth areas). As such, at 0.15p or better – and looking to sell at comfortably above 0.2p – the stance remains buy.
View the article at ShareProphets website here