The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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@Alcoops, you make a very good point, thank you. I guess where there is money there is corruption and I do wonder just how the whales etc. manage to manipulate the markets. What are the stats there, 5% (or is it 2%) own 90% of bitcoin? I detest corruption, with a vengeance. Pure greed - inhuman. ATB
600 thieves
Interesting point about the Ppi claims but 1 statistic which we never saw and never will, is the £millions that were claimed by people, I am aware of people who actively bought the product, made successful claims, then got compensation for miss selling.
Ppi started as a block policy added onto mortgages in a 5 year premium bundle increasing balances by up to £15k. It was criminal.
The banks just got pulled into it by definition.
Some people made a mint from Ppi, and they actively bought it to begin with. The whole thing start to finish was corrupt.
Thanks 600 I always like to read your posts. Thank you so much for sharing excellent researchers. I was introduced to invest last year and was thinking to give it up. Your advice kept me going. Best wishes. GLA
I’ve just been musing fiat currency. Remember the PPI scandal? Forbes published an article on 29 August 2019 that included “The top 10 retail banking scandals: 70 billion reasons why shareholders must play a greater role in changing bank culture.” https://www.forbes.com/sites/isabeltogoh/2019/08/29/ppi-in-numbers-a-look-at-the-scale-of-britains-59-billion-consumer-scandal/?sh=6c7158f566dc It also said “It is widely known as Britain’s costliest consumer scandal. Banks and lenders mis-sold millions of people that Payment Protection Insurance would cover missed mortgage and loan repayments opening the floodgates to $59 billion of compensation claims.”
I rather think this is one very good reason for bitty to succeed. So, while our launch onto NAS may not have started as well as many had hoped, perhaps we should keep the faith and wait. I for one really want an RNS next week that gives us the operational update but also news on new rigs. Surely, some have now been installed. As was debated here yesterday, this news is our ‘NORMAL’ news. An interesting 10 days ahead with bitty currently over $44k. GL argonauts/true believers, 600
All things considered my money is on some 'normal coms'
All I can say for certainty though is if the share price goes down its PWs fault but if it goes up its my brilliant stock picking.
Would nt give it too much thought. I think it was loadaes who said the other recently uplisted mines shes invested in were releasing rms shortly after. And If we are not allowed monthly update figures. You'll be able to get a rough idea off a rig install update.
I would just like to say how refreshing it is to read this bb this morning. I haven’t had a look for a few months now as it was just about insults and petty cat fighting and just got fed up with it.
I only checked it out today as I am waiting at the airport for a flight and thought I would have a look.
Hopefully this continues and the idiots don’t come back
Thanks all and good luck
Cheers
Tim
This whole Quiet Period thing is a pain in the a55
@Hexam, I hear what you are saying and the fact that it is being discussed at great length is a nod to the vagueness within the guidelines. As I say it’s 50/50 for me, if we hear something great, if not then so be it, we’ll have to wait until November.
Chuz - I think we're in danger of tying ourselves in knots over this but I believe what you are quoting relates to information that is being disclosed to some investors and not to others (e.g. I suppose when bookbuilding and for those partaking in the IPO). This appears to be confirmed by the word 'normal' in the passage you reproduced and by this part that preceded it.
"In United States securities law, a quiet period is a period of time in which companies refrain from communicating with investors to avoid unfairly disclosing material, non-public information to certain investors when the company has not yet publicly communicated this information."
So I would tentatively conclude that we will see normal communications continue - after all if there was no monthly update there would probably more impact on sp from its absence than there would be from whatever may have been in it!
@the_chuz, yeah it could be that to play it absolutely safe we don’t get any updates next month at all. As you say though when the gag is removed, there may be a belter of an rns (by modern day standards!)
@the_Chuz, from https://icrinc.com/insights/making-noise-in-the-quiet-period/, says "For starters, companies are allowed to continue “normal course of business” communication. " So I'd say our operational updates are NORMAL and therefore we should get September's. Not my call though. ATB
*maybe an operational uodate then as its an update to progress on goals..
Once again time will tell
During a Quiet Period, a publicly listed company cannot make any announcements about anything that could cause a normal investor to change their position on the company's stock. Normally, that means the company does not discuss any of the following:
New deals or wins signed in that current quarter. Announcements about previously sold implementations going live are allowed but must be explicitly described as such.
Management changes
Progress against company goals
Major product or service announcements
Major partnership announcements
https://en.m.wikipedia.org/wiki/Quiet_period#:~:text=Guidelines,signed%20in%20that%20current%20quarter.
Maybe no operational update then
Regarding the quiet period, wolfofwarks got it spot on; the company can release pertinent operational updates, but not promotional ones. Can you imagine the legalities of a ****show where the company chooses to sit on explosive information, like going into administration etc, in order to comply with the 40 day quiet period. The purpose of such a period, as mentioned higher up, is not to skew objectivity. But if the company sits on critical operational updates that is also skewing objectivity in the opposite sense. So monthly updates and the installation of new machines would comply with the specifications.
I guess that we need to wait and see if we get an RNS during the first week of October. The key seems to me whether it is regarded as 'promotional publicity' or not. Hmmm, I don't know how PW/his advisors will see this. I absolutely believe we need this continued news and it cannot be deemed promotional. PW has given us monthly operational updates for some time now.
@LimpingAlong Correct, "The quiet period begins when the registration statement is made effective and lasts for 40 days after the stock begins trading and is for analysts employed by the offering’s managing underwriters and 25 days for analysts employed by other underwriters participating in the IPO" see https://www.investopedia.com/terms/q/quietperiod.asp ATB
@limpalong
"I’m 50/50 as to whether we hear anything during this period. There is a line in the explanation of a quiet period that reads - “Management teams must not offer any new information that is not already contained in the registration statement.” The registration statement referring to the SEC filing. I would not be surprised if we don’t hear anything for a while, but I’m fine with that, it is what it is…"
I would take that to be OK for operational updates and any update on things that have already been disclosed like the purchase of machines...
Who know though, if its complete raidio silence for a month then atleast it should be a heck of a RNS when it does come out.
@spaceman07 I believe it’s from filing until 40 days after it starts trading.
paw has shown himself to be a strategic thinker in the past with the timing of the RNS's. As CEO he obviously knows we hat is happening with BTC mined, margin etc. He will be well aware the first operational update post Nasdaq launch will be highly significant in transforming the company. I think I think it's strong speculation that he has timed the launch to coincide with with the next RNS being great and with updates coming in Oct. Should take us to a new level
I’m 50/50 as to whether we hear anything during this period. There is a line in the explanation of a quiet period that reads - “Management teams must not offer any new information that is not already contained in the registration statement.” The registration statement referring to the SEC filing. I would not be surprised if we don’t hear anything for a while, but I’m fine with that, it is what it is…
I'm not entirely sure as i don't have any access of info/or the time but didn't we file a registration statement on August 20th, therefore the quiet period ends this Thursday?
I see bitty has dropped another $1k in the last 30 mins. Maybe the whales want to buy. I just hope she stays north of $40k as this is my prefered profitable profit line. Fingers crossed especially bearing in mind our September update. GL argonauts/true believers, 600
"Why is there a 'quiet period' and where does the company mention this? Thanks"
There is a underlying assumption in the financial world that the participant understands how it works.
I think the CEO doing videos and explaining every move is a relatively new concept bourn about by a) recent large scale retail participation and b) social media.
I'm in stocks like SNG & 888 where you never hear from the management other than what is required from a regulatory perspective.
@mwhite22, great find and reassuring. I particularly liked "So does the “quiet period” mean companies must refrain from speaking at all during this time period — which can last anywhere from 3-4 months to almost a year depending on circumstances? No, of course not, companies couldn’t effectively operate if that were that case. So what can they do and where are the boundaries?" Thanks for sharing. ATB