Important News!!

Already downloaded the all available documents from the CRO for the last financial year they file. Only document that mentions money is the Abridged Unaudited Financial Statements for the financial year ended 31 December 2023. It only lists the asset position, there is no profit and loss account listed, nor turnover, salary or any other breakdown of costs or revenues. Bottom line is that at end of 2023, Boards Software Limited had a position of carrying ~€60k of liabilities (debt) which was an improvement of having ~€124k liability the previous year. It is a mistake to consider the difference in negative asset position to correspond to a €64k profit as there is no evidence to suggest that current assets are cash in hand resulting from difference between turnover and expenditure. For a company such as boards, there can be intangible assets, not least the site itself and its ability to generate advertising revenue. Goodwill is another intangible asset that can be used to beef up the balance sheet, but try using it to pay bills.

Also worth remembering were looking at data that is 18 months out of date. I'd expect new accounts are due with the CRO shortly as last filed accounts were in July 2024. We're not going to see to effect of changes happening now filed with the CRO for the better part of two years.

Edit: Just re-read the last page of the accounts and the notes list a €64k profit for 2022-2023, a €38k loss for 2021-2022 and a current loss of €60k carried forward. 2023-2024 should be intesting when it lands.

Agreed, hence my point earlier that boards should be looking for other revenue streams beyond click through advertising. My suggestion was to look for corporate sponsors in each of the niche forums, allowing them a subforum for their own products, and a sticky banner advert at the bottom of the screen. The user base here represents a broad cross-section of middle-aged Irish society, a signficant proportion of which have the cash to splash on all sorts of things. No shortage of spending thousands here and there on the cycling forum, the PC-building forum, or the solar energy forum, and they're just the very few forums I visit. Lots of potential value in there for a would be sponsor activwly participating in the community. Used to be a thing with one of the hi-fi folks but not seen much like it since.

You know what they say, if you don't know what the product is, it is probably you. Revenue from google advertising is being hammered by Gen-AI, time for the like of boards to change with the times.