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ICB that is a very naive take. Oooh look at all their exciting, unsubstantiated hype about what the future might bring. Guild, Dynasty and SatoshiPay have been constay on the verge of great things for years, yet nothing is market announcement worthy.
The price reaction to the RNS tells you how well worded it was
This is a very positive RNS which gives every reason to continue expectations that Dynasty and Satoshipay will deliver the VC levels of return that one would expect from early stage investments. It’s just unfortunate the results are released on a very bad day on the markets when most shares are down.
Look at the conclusion on Dynasty:
“ Under the new commercial model, Dynasty anticipates that the revenue share component will contribute more than 85% of its total revenue within the next 12 months. The company remains in dialogue with all parties regarding a potential listing of the company's shares on the Australian Stock Exchange ("ASX"). However, there are several interesting discussions ongoing that could potentially that may lead a different outcome to an IPO on the ASX. We remain reassured that the board of Dynasty will continue to act on the best interests of all its shareholders.
To date, the Company has invested approximately GBP968,000 in Dynasty based on Dynasty's valuation of US$50 million in the last fundraising round. As of 31 March 2022, the Company's holding in Dynasty is valued at approximately US$6.5 million (approximately GBP4.8 million).”
And Satoshipay:
“ The fast progress of Pendulum and the Polkadot ecosystem may accelerate the mission at SatoshiPay to offer instant cross-border payments on blockchain sooner than expected with further news expected in the near future while Solar Wallet continues to be in maintenance mode with a recent update patch released to the market. This release includes a minor change for adding funds with Moonpay, which was required from March 2022.
As of 31 March 2021, total equity funding to date for SatoshiPay was EUR4.6m with Blue Star currently holding 27.9% of SatoshiPay's issued share capital, worth GBP4.5m, based on the last external fund raise in 2019.
It is the Board's view that the valuation of SatoshiPay may have increased significantly since the last fund raise given the operational progress of Pendulum. However, no revaluation work on SatoshiPay has been undertaken since 2019.”
Finally the Outlook:
“ The Board believes that the Company's portfolio has continued to achieve significant operational and financial milestones during the period. Importantly, the Board maintains its confidence in the strong underlying trends across the sectors within which it is invested in and believes in the benefit of the portfolio approach when investing in early-stage companies out ways the inherent risks.
Given the increase in NAV of the overall portfolio since inception, plus sufficient cash reserves, improving liquidity provided by our listed investments and the increasing investor interest in the activities of our portfolio companies, the Board is confident that it is both well-funded and well-positioned to perform strongly in the second half of 2022 and beyond.”
Have to say that that this RNS is of unfortunate timing. Has taken away from the excitement of the Kusama launch. Couldn’t make it up.
Rns
The rns does not reflect the future potential in £
But the knowledge of ragnar duke etc should tweak peoples minds before this info is released
And could be a bit late to enter the party when all
Is announced top up time even if only small another 250000 shares 4 me
Gla
Share price reaction tells you everything you need to know about what investors think of the RNS.
As many have said over time, the market doesn't lie.
The Blu board are a constant disappointment, this could've been a very positive RNS but they made it look like a turd polishing exercise by trying to hide the drop in NAV
"Decrease in the mark-to-market value of the portfolio, as of 31 March 2022, of £937,941 (1H21: £19,684 decrease) resulting in Net Assets of £11,718,709 (FY21: £12,715,515)"
Followed by
"Given the increase in NAV of the overall portfolio since inception, "
The NAV had dropped. Own it and give a decent explanation it being caused by Guild, why they dropped so much and why this year might be better for them.
Instead of the contradictory bull, which mades the constantly disappointing Blu board look like cowboys
Ragnar - just need confirmation on this from Theeduke as this could be critical In my opinion if they could potentially lose the contract.
Getting the correct wording is crucial :-)
Thanks in advance.
superb answer dukee, many thqnks
i did not know that about the team you allude to in your final sentence.
all pieces seem to be im play.
Dark - Just bad wording it cant ‘loose’ the contract. In technical terms Pendulum is really just the name given to the smart contract blockchain network that has been developed by Satoshipay. Same goes for Amplitude.
Duke - agreed and I like this from the RNS
The fast progress of Pendulum and the Polkadot ecosystem may accelerate the mission at SatoshiPay to offer instant cross-border payments on blockchain sooner than expected with further news expected in the near future
Great to finally have some news out and an update on investments.
After reading it, it does beg the question as to why there hasn't been some RNS's updates this year with at least 3 of our investments.
They maybe only small investments, but they are still investments made by the company.
The 2 big ones are the revaluation of Satoshipay and the listing or sale of Dynasty.
Thanks
@dukee
how quickly, considering your recent visit ;) , could we arrive at a realistic valuation of Satoshipay and our 27% stake.
I think that it means contractually retained by Stellar to develop Pendulum as a bridge to defi on Ethereum and Polkadot rather than contractually retained by Pendulum.
Thee Duke - that would be appreciated because the way I read that is they are contracted to develop and could potentially lose the contract also….. but my knowledge isn’t as broad as some.
The new funding allows for SatoshiPay to be contractually retained to continue to develop Pendulum blockchain.
Does this mean satoshi pay don’t own the pendulum blockchain and are only contracted to work on it?
Hence they could lose the contract?
: )
any valuation will do, and a regular revaluation is the holy grail.
we are trading on a 2019 valuation for pity's sake,
that paragraph was in previous results too.
i await the day when we get a solid valuation for Satoshipay, the market must then rerate BLU accordingly.
Here is a link if anyone wants to track progress.
https://parachains.info/auctions/kusama
I like this paragraph best!
It is the Board's view that the valuation of SatoshiPay may have increased significantly since the last fund raise given the operational progress of Pendulum. However, no revaluation work on SatoshiPay has been undertaken since 2019.
https://www.londonstockexchange.com/news-article/BLU/half-year-report/15518513
Mms have known of the potential all the time they orchestrate the SP to make a market its their job. They totally know how to make mugs of investors and traders alike
Found it
928000 currently
Flying high ladies and gents
Alb
Ouz
Ragnarr
It can wait till the morning but where are we now?
Love your research sir, can’t wait to meet you over a beer or ten.
I can find out myself but after a 18 hour shift in the pub, I’m feeling a bit lazy
My bad and good luck all
Ouz
Blu 5p
Where’s Ohmni?
Could you make a post over on ADVFN for everyone please?
Yeh spot on duke! Throw in a reassuring rns from del and would hope we are .3s again. Providing the pump and dump crew don’t turn up. But no worries, pendulum will be huge. Lots of vc interested in amplitude by looks of it!