Member login | Not a member? Sign up
Former boss Gary Smith selling his stake and the 2012-13 figures should mark the end of one period in the history of Intandem Films with a much brighter future in prospect.
Intandem has a larger slate of films and it intends to exploit the current film library.
On 22 November, Smith sold his 4.98% stake, which had been diluted by recent share issues.
A loss of £1.3m was reported for the year to June 2012. Revenues remained modest at £284,000. At the end of June 2013, Intandem had net current liabilities of just over £1m but since then the company has raised £1.18m at 0.5p a share. Any significant cash outflow will mean that Intandem will need to raise more cash.
At 0.4p a share, down 0.05p, Intandem is valued at £1.54m.
There are eight fully funded films in the current portfolio and a total of 20 films on the slate.
Intandem has generated commissions of around $266,000 at the recent American Film Market – assuming the expected third party sales of $1.8m are confirmed. After expenses this would yield a gross profit of $222,000. That should be included in the second half figures. Last year’s gross profit was £206,000 ($337,000). Intandem has already generated revenues of £104,000 so far in the first half.
The cost base has been cut to just over £60,000 a month. That still means that Intandem needs to generate significantly more revenues to break even.
Download the latest AIM Journal from http://wwww.hubinvest.com/AIMPDFDecember2013_51.pdf
© 2023 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds