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Not what I was expecting.
Satoshipay are profitable 999 but only by shuffling money around themselves. Robbing Peter to Pay paul if you will. Pendulum pay Satoshipay for something... I can't quite remember what. The money which is shuffled around is from their fund raise a year or two ago where they raised a few mil.
It is more investor money poured into the pot, not revenue and profits they have generated themselves.
Benchmark have been about as useful as Satoshipay and Dynasty put together.
There were other posters here say they've seen the investment memorandum and that it read well...
Unfortunately, it cant have read that well because there is no sign of any interest whatsoever.
Hot property, whether it be a house, car, tech... always sells quickly. Benchmark have had Satoshipay for at least 4 months (they had involvement well before the 15 nov 2023 RNS).
If we havent got a valuation for Satoshipay, do they even know what price they are asking? It's like the blind leading the blind here.
In summary: Blu have been left holding the baby... They are unable to pass it on themselves, so they've employed Benchmark to do it for them... and even they can't pass it on!
999 - https://www.lse.co.uk/rns/BLU/portfolio-update-mvd58tiojfbg2l9.html
It isnt looking great here, like most i am a shed load down, I cant see it moving up anytime soon. I think i would settle for my investment back but sadly i have no belief that will happen. Looks like i have been hoodwinked by another AIM fantasy, talk is cheap and that is all they do at satoshipay, snail pace is fast for them. We still never found out if they are profitable, when that benchmark was done what did they actually achieve because we have not been told anything, is Satoshipay for sale or not, the market is telling us its worth. Death by slow strangulation is the only thing i am seeing.
Having revisited the Dynasty website, can’t say I’m overjoyed by their feedback on progress.
They say a high tide raises all ships…
I think satoshipays rowing boat is still on land - they haven’t worked out how to get it into the water yet!
Yes the 2 year comment was tongue in cheek, however not entirely satirical because it’s not far off how delayed they are on each project they set their sights on
Ragnarr - I’m sure you mentioned the crypto bull run would be beneficial for us… bitcoins just smashed through its all time high
What are we doing still languishing at 0.07
Slug - re timescale for Pendulumpay the MVP has already been developed for testing Q3 Last year - Roadmap shows versions launching this Half - obviously could be delayed but unlikely 2 years.
Regarding the actual project Pendulumpay does have huge potential. One of the biggest barriers for the masses entering the crypto space is user-friendly fiat/crypto entrance platform - see the nearest model as something like alchemy-pay (https://alchemypay.org/)
Of course they still have to get it done and do it right but in principle it all makes a lot of sense to me.
That failed RTO you speak of - I remember vividly
I think that not-so-small slip up cost BLU around £250,000, of which if I remember correctly, shareholders had to stomach the loss in the form of dilution
I think it was at that point I started to question what was going on at Satoshipay - & that was 5 years ago !
Absolutely Keith
First it was Satoshipay
Then it was Dtransfer
Then it was amplitude
Then it was pendulum
Then it was nabla
Now we’ve got pendulum pay.
I’m that far underwater with this drivel there is just no point in selling for what micropayment id get in return. If it goes to zero it goes to zero
I remember investing many, many years ago because of Satoshipay’s exciting blockchain development. We then had a period of suspension, pending the abortive RTO. Blockchain changed and Dtransfer was the new idea. Then came the investment in various esports companies; which I thought was the way forward. These companies have, by and large gone tits up! Satoshipay are constantly ‘adapting’, ‘developing’ and ‘progressing’, while the SP stagnates and reaches new lows. It’s been a long painful wait but at 85% down, I’ll await my fate and fingers crossed for a miracle.
Surprise surprise, they’ve coined a new business name… Pendulum Pay
Let me guess… Pendulum Pay is essential to be able to get the whole process to function….
I suspect they’ll forecast it’s going to take 1 year to develop, but will realistically be dragged out for 2 years to milk out as much cash from the business as they can.
By that time they will have munched through the majority of their funding so it will be time to go cap-in-hand once again for more cash
Rinse and repeat. Whilst the starry eyed Satoshipay fan boys will sit there in awe thinking their latest venture is the best thing since sliced bread, not realising this is around the fifth or sixth time they’ve pulled this nonsense.
We are now already flying towards the end of Q1 2024 and I think the film Schindlers List has got more colour in it than Pendulums Roadmap.
Some posters argued with me throughout a lot of last year saying things would improve. Yet here we are, stuck in the mud at 0.07p
Perhaps it’s best for my counterparts not to make light of my posts considering my proven track record of being correct.
Oh… and itlooks like yet another week down the swanee
Appreciate your musings PM
Satoshipay apparently difficult to value - despite them doing an inventory last year
They’ve been trying to put a value on them for at least 18 months now … not sure what’s taking so long
Most, if not all of their previous raises have been without issuing equity, so not been able to value from that.
Which is one benefit to them having all the handouts they’ve been given over the years
We were of the understanding there will be news in march so other than pressing the buy button, I guess it’s a case of sit on your hands and wait
Https://allincrypto.com/alex-wilkey-the-co-founder-of-pendulum-revolutionizing-cross-border-payments/
Looking Ahead: Pendulum Pay and Broader Adoption
Looking forward, Pendulum plans to launch Pendulum Pay, a platform aiming to simplify the process of on-ramping into the crypto space. This development is particularly exciting as it promises to bring Pendulum’s vision closer to reality, making blockchain-based financial services accessible to a broader audience, including small and medium-sized enterprises (SMEs).
Market Cap is 3.89 million. I look at it relative to the valuation. I think the good part here is that we will not get placings to invest in other projects so what we have now should add value eventually.
Blue Star has been an investor in SatoshiPay since 2017 and has a shareholding of 27.9 per cent. Based on the last external funding round that took place between February and May 2019, SatoshiPay was valued at ?19.2 million.
Our market cap is 3.89 Million. So Satoshipay would need to be worth just about 13/14 million which is far lower than 2017.
I think Dynasty will be easier to judge and far easier to sell a stake or get a valuation if they go into India. I would be confident then can sell at an over inflated price but this might be a few months away.
You just have to buy and hold at these prices imo. Updates will come so the base should increase overtime. Satoshi will get sold or they will get a valuation I am sure soon so it doesn't need to be worth much for this to rocket. If it is worth more than 2017 which is likely then potential gains are very significant if you then factor in Dynasty.
We will likely get a dividant at some point as well. A good hold and buy but as long as you are happy to wait then I think a few 100% will be on offer at these prices.
I like your positivity pm
Do you have any opinions on satoshipay
Cause it will. It takes about 6 months to complete a merger so I am sure that would be ongoing with Googly before an announcement comes.
India has many wealthy investors, many billionaires and I am next to certain some will pay for a stake in Dynasty/googly. Once the merger completes then it would be easy to get a sale price and a valuation.
Quiet period but I see Blue hitting 0.50p this year for sure. Not much downside so a good buy at these levels. I added this morning and will add more later.
And whilst there may be observations on my word count and post count (thanks for that) , it doesn’t really matter
It’s my time
& at least I’m contributing my opinions to this board
Not a one trick pony of copying and pasting information
Or wise crack one liners to try and belittle and dissuade me from posting simply because my posts don’t conform with the majority of other posters opinions on this board
I can’t wait to get out - only once the share price has risen to a level I’m happy with… but at this moment in time, with what we have going on, I am concerned as to whether the share price will ever rise again even for me just to break even…
It doesn’t really matter on number of shares, after all it’s not about me… 1 share or a billion shares , i have enough of a holding to be peed off about this shoddy performance
It’s embarrassing
Do you have a big holding Slug..? 12.6 million 60% down personally.. not happy :(
6.5 years
Down 60%
missed the part where I’m meant to be happy about those results
Slug Your word count is excessive in finding fault with the company and yet you are still determined not to sell. I don’t think I’ve ever seen so much written by an unhappy investor.
You're right 999 - my bad , clearly needed my morning coffee
no doubt the satoshipay fan boys will crawl out from the shadows to point out that satoshipay don't have to release news to the market because they are not listed. They are not wrong, but really, the underlying reason they are not releasing any news is because they have literally got nothing.
The emperors new clothes!
Are we going yet another week without substantive news? You betcha!
is the rise from here to nav not 240% , whatever it is it should be nowhere like this, nearly 18 months after a positive rns and this is the **** show is what we have. and more chance of going down than up. i know satoshipay and dynasty are under no obligation to tell blu anything but for me for satoshipay to treat a major shareholder with such disdain is disgusting, the pricks could not even do their books properly. are they making any money?, i think tony said previously he thought they may be, its a bad job when we seem to know nothing.
It may be March 6th, but it’s time to face the realist now that Tony’s pledge is dead in the water.
I’ve quickly done the math
At 0.07… just to get to what Tony inferred was NAV … 0.24, the share price needs to rise 350%.
Some may look at a rise like that as a success, but it’s only getting us back to the start line.
The price actually needs to go a good 600-700% for us to be back in the 0.4s before the end of March - again not happening in a month of Sundays here