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Good call? Which one??? Tintin is a bipolar lunatic!!
Tintin we are stating situations which the SP backs up along with the inept BOD.
The excuses from these is a total calamity.
Seriously are they really invested or just escaped from the circus!!!
The BOD is getting away with murder here.
Make them be answerable I say it's your money they shouldn't be hiding...
Good call btw Tintin
I was right carry on ramping next prediction- streaming wont be as great as many people think
FTSE 100 down 1.7% already this morning.
But of course DC could have prevented all this (and solved world peace) with better RNS?
yep - the admin expenses is £2.88M - I had taken the sum of all the jiggery-pokery from £36k gross profit to £3.37M loss post tax and lumped that as a generalisation into "operating costs" for the simplicity of my exercise.
We're certainly into the weeds already and the range of outcomes goes from my most conservative £2M shareholder return to your £4M - all without any further KPOP activity, which there could well be...
Whatever view you take the conclusion is stark - we're grossly undervalued.
Admin expenses in 2021 were £2.88 and I don’t think that they will increase much in 2022. Say £3m with a small repayment of the CBILS loan as predicted. That gives circa £4m net profit if we assume he meant £7 m gross (which is still a guess) so that would be worst case IMO (based on the Chairman’s statement). That puts each KPOP festival at between £2 and £3m profit, so if they get to 7/8 next year that’s going to be a big tick up in profit.
Looks like 4,075,000 warrants expired 25th June 22.
Steady results and pretty neutral
Results are better than I was expecting for a year hugely impacted by Covid.
H2 numbers were good.
Around £2m revenue in H2, £0.6m Gross Profit and only about a £0.3m pre-exceptional EBITDA loss. With things having improved significantly into 2022 it bodes very well.
It's there to be shot at MB10 - I see Operating costs in 2021 of £3.4M and a loan outstanding of £1.5M.
If he want's that clear first, then £7M gross profit less £5M is £2M.
If you're right and he doesn't need to repay that loan, then logically £7M gross profit = £3.6M bottom line. That would boost your P/E calc to nearly 20p a share just in 2022.
B, you sure your calculations are right? IF the chairman meant £7m gross profit, with the op costs I would expect an actual profit much higher than £2m (even if they paid off the CBILS loan). .
Good spot Knigel. The trend is better than the overall for 2021, which improves the 2022 outlook.
I have assumed identical overheads for 2022 but I think he may be looking at the director's remuneration and structure next month, so it could go up.
Sorry full year gross profit of £36k still a decent second half improvement
2021 results better than expected. The loan is a 5 year CBILS loan at a very low rate of interest, so I wouldn’t expect them to want to pay that off early.
The gross loss in the first half was £(542)k so a gross profit of £611k in the second half to give the £69k total. So a second half improvement and now covid related costs should be a lot lower.
This was posted in the 7th June RNS, we have already debated it's ambiguousness - but this is why I believe we have to wait for the big reveal on 2022 and beyond until July.
"the Company has decided following delays at its outsourced accounting unit to defer the presentation of the report and accounts, auditor appointment and auditors' remuneration, as well as directors' remuneration resolutions to a separate general meeting which will be held prior to 31 July 2022."
Last year's results as promised. The stuff on 2022 not out yet, but as per their RNS I expect end of July if not before.
Last year's results are interesting - improved revenues on 2020 and a tiny gross profit on activities
Obviously even though overheads have been reduced there's still a loss, but it's much lower than 2020.
As far as I can see if LVCG maintain their overhead levels then a gross profit of £3.4M on a combination of KPOP and Bricklive alone will deliver positive bottom line.
Now - what can we estimate for 2022? This is my early stab and up for debate, no doubt I'll have missed something...
There's a total of £1.5M borrowings at the end of May 22, and operating costs of about £3.5M so I'd expect DC to want that paying off before any retained number to shareholders so I think the target for us to see a shareholder return is minimum £5M gross profit.
DC has suggested famously earlier in the year profits equal to M/C - when M/C was £7M.
In that case I see a positive £2M bottom line for 2022 if he's correct.
P/E of 10
M/C of £20M
SP just over 10p
This doesn't allow for extra revenue activity, which we anticipate.
For 2023 if you include O2 and Formula E alone then you're way past that and so the 20p longer term SP is minimum fair value. 7/8 KPOP concerts would just keep adding things up.
What do you think?