illumin Holdings Inc T.ILLM

RE:RE:RE:RE:RE:Contact the Board of Directors

[truthis0utther3]

There is some irony when you claim I have nothing to offer. Maybe nothing to offer bulls at the moment but I prefer to keep it real. 

Why don't you engage and refute what I wrote? I welcome it! I think I have been very fair and gave credit where it was due before and highlighted positives IF certain conditions can be met.

It is very easy and lazy to just call me names instead of engaging. Isn't the whole point of these boards for people to provide various points of view and information or do you believe your own BS and think you have a monopoly on the facts?

Bring it, LFG.

Torontojay wrote:

truthis0utther3 wrote:

I think you are giving them too much credit and being too optimistic based on track record to date.

They have never proven to be able to grow organically at a rate at or higher than the ad tech industry at large. All growth has occurred due to acquisition.

Second, they have never proven to be able to build a self serve product and in fact promised one with illumin. Huge stretch to believe all of a sudden they can deliver, especially coupled with the next point. 

Third, this is a lifestyle company. The growth story has been a fraud. This is the founder's piggy bank and expense account. Pay themselves a base salary and expense lavish flights and trips while pretending to continue building. Why don't you ask what the founders all do for the company these days except for their salary and options? How often has Tal been in the Toronto office? I'm sure someone working there can tell you.

The street is wise to all of the above and despite Tal's idiotic patronizing comment against retail investors, it's retail that is left holding the bag.

The only thing going for them is that the stock is perceived as "cheap" but there is an investing adage that applies here: cheap for a reason!
 

 

Capharnaum wrote:

 

argon12 wrote: I can't believe that none of the top brass has been fired.
BOD exposs themselves to personal lawsuits if they  don't act in shareholders best interest.

Always bet on the jockey not the horse. The CEO has clearly blundered in just about every way.
Compensation model has to be redone by BOD or they will be taken to task.

TD analyst is just about as dumb as the CEO.
 

Imo, that's why they should be taken off by private equity. In the public stock market, investors have no patience.

Illumin has seen good sequential growth last year (over 30% per quarter), considering 70% of its revenue is derived from new customers. Existing customers that switched to Illumin have in general increased their spendings compared to the legacy platform. Considering that it is still a platform in development that requires extra features, my own opinion is that it has done fine. I know some think these numbers reflect a "dead" platform because they haven't yet reached the point where customers use it as a self-service, but I would disagree with that looking at the numbers.

Imo, the decision to invest $11M in sales and marketing by contracting salesmen with books of companies will be the one that's going to either prove the management right or wrong. I believe that their timeline for payback (starting Q3 and increasing in Q4) might be a little too quick and that it may take to 2023 to really see extra growth. However, considering the traction that Illumin has shown in 2021 (over 30% quarter to quarter sequential growth with 70% coming from new clients), maybe they'll get there on their current schedule with new clients. If spending on sales really gets AT on a 20% top line growth trend for the next couple of years (including the termination of the legacy platform), then the management will have been proven right.

This is where patience is required as they get the features done in Illumin to be able to switch all their customers to that platform and bring a "full" product to the market. If they come out of these efforts with flat revenue and higher costs, then it might be time to check the market for a buyer (instead of "changing" management). In the sector, it should be relatively easy to get at least 2x revenue + cash from a buyer, as it will be accretive to any buyer considering others in the sector trade at 7x+ revenue (ie: TTD trades at 25x revenue).

Considering that, looking out two years, I can't see many scenarios where the shareholders won't be able to recover at least $6 for their shares. I know many will disagree, but the funny part is that those that do almost only do based on their general qualitative opinion. Show me those deals in the sector below 2x revenue and then I'll re-assess my valuation model, cause I haven't seen any.

 

It appears as if you have a vendetta against the company. I can think of a couple reasons and it may be because 
you were once an investor that lost a lot of money and now you've become disgruntled. Or, you are a short and you're hoping to spread fear and false information to the investment community in the hopes that people will sell. 

 

I was about to discredit everything you've said with actual accounting arguments but then again you're not worth me spending this time to write about it. I will ignore you going forward. You provide no value or insight to any discussion here and certainly nothing of value to us shareholders. 

Please stop clogging this board with your BS. You are nothing more than a troll and that's the Truth.