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Slugmum, so sell and go away......you really must if that is how you see things.......
Contd…
They’ve spun us a yarn in the past about how many clients/customers they’ve got lined up for their next hit product, & with that in mind, I’ll be very skeptical about any information provided from them to BLU and subsequently released to the market.
And yes…. In before anyone tells me to sell… I’m not prepared to sell at a circa 60% loss
Let’s see where the price is at the end of March, because at that time, Tony’s self imposed deadline is up
There hasn’t been anything really convincing released by the company within the last 3-4 months, nor have any perma-bulls on here given any substantive reasoning to suggest things are going to progress anytime soon. Wild price predictions into the pennies with no justification to back it up do not count.
The RNS releases which came out in Q4 of last year really were the best Tony could come up with. Tony’s objective in 2023 was to obtain valuations for our two biggest holdings. We are almost in March 2024 and we don’t have valuations for either of them, despite Dynasty recently raising funds.
Satoshipay might be well funded from their grants and raises but the fact of the matter remains that their expenditure has been out of control for years now.
I’ve said this before but a case could be made that because their cash balance hasn’t been ‘earnt’ through hard graft, they have an ‘I don’t care’ attitude towards their spending.
Like a spoilt brat being given their daddies credit card
And don’t tell me they are in early stage development… it’s Satoshipays 10 year anniversary this year… 10 years of handouts and little by way of results… no wonder we’ve had this constant selling pressure
I maintain my original viewpoint from December. If Satoshipay was hot property, benchmark would have had some interested parties by now.
Sod benchmarks prospectus on Satoshipay
I’ll do one here
FOR SALE
- Business which specialises in creating products which there is little demand for (taken from Glassdoor review)
- Comes with a big monthly cash burn (30+ staff noted on satoshipays website)
- No meaningful revenue streams (they’ve got micropayments, that’s it, micropayments = micro revenues)
- Hugely behind on roadmap and business milestones (check pendulum website to see that)
- Specialises in dragging out projects in order to take as much investor money off the table as possible (nabla is what, at least 12 months overdue)
- No evidence of strong leadership (if this next offering is the next big thing, why isn’t their leadership shouting from the rooftops about it?)
- Haemorrhages cash on pointless excursions abroad (Brazil trip last year to name one)
- Promises jam tomorrow (check Reddit/Twitter pages)
- (Speculation) We have no asking price- Make us an offer (open invitation to time wasters)
You get the picture
Some time ago, for a while we did actually correlate with Bitcoins price
When Bitcoin was $30k, BLU was 0.3p
When Bitcoin was $20k, BLU was 0.2p
And so on
However the massive divergence we now see is worrying
Bitcoin $52k, BLU is 0.08p
Whilst we have no tie ins with Bitcoin whatsoever, like it or not, Bitcoin is the lead indicator of the crypto market, as is gold with the commodities market
When mainnet? And when it arrives, will it impress Mr Market?
They’ve spun us a yarn in the past about how many clients/customers they’ve got lined up for their n
Ah! Looks like it is! Never occurred to me somebody would be T trading here.
That's quite obviously a rollover........
Looks like Mark still has a few left... Wonder where they are all going?
Testnet Alpha finished - another step forward
https://app.nabla.fi/
I have to be honest, I think it was Dukes buying that formed the cornerstone of the last rise towards 0.5. Albert makes a good point that there must be buyers at the prices we see ourselves at.
Nothing materially changed for me yet - not adding or selling at these levels or indeed any levels till there is a little more info doing the rounds - either through updates or further market launches by Pendulum / Nabla / Amber / Satoshipay etc.
I was a shareholder previously from 0.12p to the late 0.2p's...but missed the ride to 0.5p.
I bet Mark wished he had sold then, but Satoshipay was supposed to be worth masses.......maybe it still is worth a great deal more than its book value......even if nought, Dynasty covers the Market cap.....and seem to be progressing.....
I doubt Satoshipay is worth £0.........
Dipped my toe in, did a bit more research and got more confident.... :-)
"the shareholder participating in the Fundraise will receive a warrant allowing the holder to subscribe for ordinary shares in the Company, on a one to one basis, at an exercise price of 0.1 pence for an exercisable period of 3 years, expiring on 17 January 2027 ("Warrants"). The Warrants are not subject to any other performance criteria.
Additionally, in line with the Fundraise and to facilitate immediate free cash to be used for working capital purposes and to assist in delivering the strategy of the Company, the Directors of Blue Star have agreed to receive their remuneration in ordinary shares in the Company, in lieu of cash, on the same terms as the Placing Shares, which include Warrants, for the period between 1 February 2024 and 30 September 2024."
So, is this one shareholder, Mark White and why he sold down or the other large shareholder or a new shareholder....?
And I take comfort that Directors are taking shares at 0.1p instead of cash, but they do get the advantage of free warrants....free because they will only exercise when they can sell at a profit.......
...and what about another 3,432,479........because only valued at 40% of previously published Net Assets.
...and another 1,432,902.
...awaiting Satoshipay valuation and update on Dynasty progress.....whatever happened to its flotation.....?
Exactly! Good point!
If The Duke went from 7.6% to under 3% he sold at least 230 million shares.
Market makers wouldn't absorb that number without completely crashing the price, so surely someone must have bought them.
So, I’ve been invested for a long time and initially liked the blockchain concept, then held my breath during the abortive ‘placing’, then I liked the change of direction to esports and the potential for Dynasty. The main problem now seems to be a complete lack of really positive feedback from them. It’s all chat on here and no substance, as the SP creeps ever downwards. To give many of us any return, SP will need to multiply very very significantly. Here’s hoping.
Not only once Ruga
Viera
Would you be prepared to expand on your post regarding the valuation of Satoshipay. You have stuck with BLU for many years now and have had close contact with the management to help sort out some corporate issues in the past. I am sure the bb would appreciate your views regarding how successful you think the board’s attempts to value the 2 major assets will be and the likely valuations.
So Mark White is “ Theeeduke” ?
He posted on the 1st Feb he’d bought more Blu shares..
Quick change of heart to have such a clear out so soon after buying.. 🤷♂️
Really only worth £12m ? Wow
It was related to the company on the 14th that his holding had dropped below the 3% mark, another approximately 150million was sold over the following 2 days. That may suggest he has sold the lot - hope so.
Mark White made most of his money in Argo blockchain.He might be gone full circle and reinvested his money there.
Appreciate the acknowledgement 999
And as yet another week draws to a close with no substantive news, ill hang my hat on the usual and appropriate tagline
Yet another week down the Swanee at Satoshipay
Let’s hope he’s sold out and we race to 2p 🤣🤣
No need to specify if you go under 3%. So does the Duke still hold any, or has he sold the lot. We will never know.