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Good news, but why on earth is this NOT an RNS when Battersea Bricklive gets 3 .....
On the rise in thr back kf that tweet
he said in the last video that lvcg made a significant profit and they were happy with it ,having set the background that most festivals do not breakeven and turn to proft until the fourth of fifth year. In that context he was distinguishing the kpop one as an exception . And that means 10p is nonsense !
"They have already told us what the costs were for the event"
No they haven't, they are incomplete, as quoted by knigel, "reconciliation is taking place but is being delayed due to the number of (I believe he said) cross party invoices".
Point missed again Tintin.
The issue is "profit" - is that gross profit and then syphoned off to DC to buy Startart?
Or is it finally going to be operating profit driving value to shareholders?
Remember we're still having to place to pay the bills so the latter looks unlikely and that's the bit that matters.
“A suggestion made of overall profit but as I stated 10p is profit and without a figure released by the company is no less accurate as one for £500,000” you’re just talking **** now
With nothing to back up the claim? Really? They have already told us what the costs were for the event, we know exactly how many tickets were sold and at what price, we know they broke even on merch with a minimum guarantee of £350k etc etc its not like we have no ideA, i do not know how much we have made but i’m making a calculated guesS, its not from thin air
"And RE how much profit 'simpleinvestor' that is sensitive info that would have to be RNS'd, why is anybody going to know the figure here?"
I think that was my point. Suggestions of a half million plus profit bandied about with nothing to back up the claim. A suggestion made of overall profit but as I stated 10p is profit and without a figure released by the company is no less accurate as one for £500,000.
Either way it’s undervalued MC just £8m 14p= MC of just over £30m which is not unreasonable just need some good news and a change in sentiment
Extension of Frankfurt can be done for a further 4 years for “no further payments”. Also it may be that future festivals at different venues will not be done by the same consortia, giving an opportunity to give a better cut to lvcg.
9 Dec 21 RNS “The event is a joint venture agreement between a number of parties which is the usual format for this type of festival. The European partners consist of; KPE - a 50% subsidiary of LVCG, who are the Touring Promotor, PKE who are the Promotor and DB Stadium - the stadium partner. The Korean partners are SBS who are responsible for broadcasting and streaming in Korea, artist sourcing and their two consulting companies one of which is SSD Media Group. KPE has the optionto extend the festival annually for up to a further four years for no further payments.”
I presume there’s at least one 3rd party escrow account where the Frankfurt transactions are being reconciled so that a balancing figure can be transferred out (50% to LVCG?) so at least the company bank balance will improve. Of course IF there is an escrow account then there might be a case not to transfer funds out so that 2023 payments to artists/venues are available? Tbh the company needs to be more transparent on how this division works? Apologies if it is already clear in a RNS..
Hope you are right but the market isn't expecting anything imo, see market reaction to the RNS where they understatedly said the event had 'made a profit'.
One of a handful of potential catalysts that could surprise on the upside and lift the share out of this current rut. If there is any sniff that cookie monster has had more hands in the jar though then sentiment will be irreparable.
We don’t know the figure but we do know the costs for the event/ ticket sales etc £500k profit from tickets, merchandising broke even, minimum £350k i think its between £500-£1m peofit
Tintin is correct, he did say 'mid August, if not earlier' so he needs to pony up with the results of this Frankfurt festival next week, otherwise it will be another deadline he's needlessly given himself and not kept.
And RE how much profit 'simpleinvestor' that is sensitive info that would have to be RNS'd, why is anybody going to know the figure here?
…but as we keep saying - you won’t get the answers here!!! Not from mere private investors … maybe you hope the company will read the thread - perhaps - but they will RNS the Frankfurt figures soon enough.
As for the SP drop question from the post below - it went up quickly and profit taking started a sell off and then lack of news kept the SP falling - like many small cap companies across the market thanks to the war. However it has been kept low due to a new placing and it will take a while - and some decent news flow - to push the SP back up imho
Thanks for confirming that everyone can see exactly what you posted :-)
Quote "Guess some people are naturally awkward, something that social media/bulliten boards reinforce. I mean the whole “I didn’t ask about future events, why did you say something about future events” comment just sums it up. "
I didn't mention future events anywhere, you did.
"But here is the reality. asimpleinvestor has tried to mislead and say that “suggesting something to be profitable is just hearsay and supposition.” However, the RNS of 1 July states “ Overall the event is expected as reported in our recent 2021 Report and Accounts to be profitable"
I also didn't suggest it wasn't profitable. I asked how much profit did it make? No answer was forthcoming. You can attempt to put as much spin on what you suggest i have said but you forget that all my posts are visible and can be looked back on chapter and verse. Feel free to show me where I stated anything you have claimed. It isn't me attempting to mislead but you yourself. Is it wrong for an investor to ask questions no matter how uncomfortable they happen to be for you?
Tintin - Can you guarantee that profit amount and as you can make that prediction i assume you can tell me the figures I asked for.
Btw of course being a discussion thread anyone can ask an question or make a point - as long as they acknowledge that sometimes it’s only the company that can give an answer! Applies to most threads actually… the best we can sometimes give is an opinion of what the answer might be..
Even if its just £500k thats half a milllion from the first event which is great
£500k profit from ticket sales broke even on merch 350k min guarantee we have made ar least £850k profit from this event
Guess some people are naturally awkward, something that social media/bulliten boards reinforce. I mean the whole “I didn’t ask about future events, why did you say something about future events” comment just sums it up. There’s certainly a deliberate attempt to spread misleading information especially on the merchandising deal.
But here is the reality. asimpleinvestor has tried to mislead and say that “suggesting something to be profitable is just hearsay and supposition.” However, the RNS of 1 July states “ Overall the event is expected as reported in our recent 2021 Report and Accounts to be profitable” so it not just what DC is saying on investors calls, that is a stement that’s been through the Nomad.
That’s two misleading statements he has made. Will he admit that. I doubt it.
"Equally (as KNIGEL points out) I would expect that the profit figure for lvcg for future events will be revealed in the forthcoming brokers note too, based upon what was delivered at Frankfurt."
Who mentioned future events?
I am not sure why this poster is being so awkward (imo). Sold out? Just impatient? Did get their questions answered at the last investor presentation? (Which DC wants to return to a monthly event). I totally agree this has taken too long and perhaps the company should do this work in-house or employ a new firm. Btw let’s remember we have four divisions now - all with great potential to expand and to cooperate together but I tend to agree DC needs to be clearer sometimes in the breakdown of costs - even if it is clearly complex..
Wrong final figures due next week DC said profits from Frankfurt will be announced mig Aug and brokers report sep so news next week