The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Well wigwammer, just had a look at your past posts and you have a history of berating others that don’t agree with you. Look at what happened on INTU where you were ramping last June and saying everyone was wrong who was saying that it would go to zero, and you got that completely wrong when it went into administration. Funnily enough you never showed your face there again. Same with GMS, you called it wrong. Here you have gone one step further and have moved to posting false information.
But your real problem is that you are looking backwards not forwards, is hilarious as you waffle on to other posters not to look backwards, and IMO you are totally missing what is actually happening. IMO the market is completely missing the new LCSE division and it’s potential. I’ve outlined in posts today how that’s likely to totally dwarf the Bricklive business if even half the things indicated come to pass. Market is currently pricing this to fail and the danger of failure has passed with all divisions returning to business post pandemic. Even on the investment in StartArt you have it completely wrong, and that’s going to be massive in its own right. And as to your “LVCG” is the cash cow funding this, that’s not true either as the quarter of a million in cash and over a million in assets didn’t get there on this own did they. Indeed the RNS quite clearly says “In forming his view, the Independent Director has taken into account an independent valuation of the interest being acquired by the Company which has indicated a value range in excess of the consideration being paid.”
The most basic research here will show that there is a big run of value adding news due after the accounts are out. The headlines of the accounts are already known as it has been detailed in the trading statement, but accounts will only tell the story of the pandemic and always look backwards. It’s easy to have perfect vision looking back, the secret is to look forwards :)
Good luck to you WW in whatever you are invested in (because I find it difficult to believe that its here tbh). You have posted false information here and I have show you up, man up and accept that you were wrong instead of ploughing on with your misleading guff. The new division is going to be massive IMO, the fact that you neither talk about that or acknowledge that just shows you up.
Lol MB. You have sat on this board confidently spouting your crap for a very long time, and any poster who has acted on your false confidence and bought shares is now paying the price. They remain near all time lows. On behalf of those shareholders, I accept your apology. Your point about DC’s international fees being capped is pointless garbage and we both know it. He has capped them for 2021 - an entirely meaningless gesture given the likely revenues involved. And yes - the only supposed “asset” we have in LCSE is DC himself - which is exactly why is he likely to take a very large cut from the revenues. People like Barnyards have got you bang on - you have been a total liability to the people reading this board and got it hopelessly wrong. If you are a new reader please bear this perspective in mind. ATB
Anyway, nice to see that you (WW) are moving from just posting misleading information to posting false information. “No assets” - that’s false . “No expertise” - that’s false too.
You might want to read some of the warnings about deliberately posting false information under “important message from the FCA” ;-)
I think that falls well short of an apology for your accusation.
And as to expertise, unless you a complete idiot, the Chairman has much expertise and a little black book of contacts that he is bringing to LCSE. Who do you think got Messe Frankfurt onside to deliver the e-fest?
you are just showing your agenda here with every single post WW
Thank you again for conceding DC’s fees are not capped, as you suggested earlier. And as suspected, LVCG have no asset or expertise in LCSE. It’s just a magic money tree :)
That comment applies to any RTO of any unlisted entity. LCSE clearly wanted to have access to capital as well as a route to sell the business IMO. And as to assets, the right to host a formula e race for 10 years is an assets that clearly has revenue generating ability.
TSG - in the bricklive division, the expertise and physical assets drive sales and return. I get that. But what asset do we have in LCSE, and why has another party handed us a contract worth the vast sums you mention for so little?
Absolutely agree MB10. I spoke to DC back in Nov 2020 and he told me then that he realized LVCG was "a nice little business" but that he could do so much more. At the time, it scared the life out of me as I believed (and still do) it could be a business bringing in £10m pa. When I then sat back and thought about it, I became excited about the LCSE division. As you list below, it will almost certainly dwarf the Bricklive division. IMO, the market has totally missed what is going on. Tomorrow the results will be published (I think) and these obviously wont be good but I honestly think we will get a good news flow soon. Not officially announced via RNS but we know the Formula E has been signed for example. With the planned eFest, the revenue for this over 10 years will certainly be significant. This is not a Micky mouse event!
Just looking ahead on what the outlook for LVCG as a recovering business. Before the pandemic, the Bricklive business was heading towards north of £10 million revenue and generation of a substantial profit (see the forecasts in the brokers note). Clearly that has been impacted by the pandemic, but things are recovering. Without the bricklive show bit of the business, the bricklive touring once it gets back to business is certainly a £5m plus business and with op costs now split across a bigger group that should get to the point of turning a good profit. But I’m more interested in the potential for the rest of LCSE
The cycling looks like it will generate at least £1m a year recurring revenue (and a good profit as PnP is covering the costs). Then add the Volvo ocean race hosting which next year should add quite a lot. If you look back, you will see that the value of LCSE was done on existing contracts (mainly these two) and did not take account of the potential of the group.
How much will a 10 year recurring contract for hosting Formula e in Cape Town be worth?
How much will the e-fest generate with its pop concerts, e-bike events, show village, and gold tournament? Remember they already have a provider in Messe-Frankfurt to run this. If you go back to PL accounts and look at what the golf tournaments generated, its a lot more (many multiples) than the cycling will generate alone. Then the pop concerts for the e-fest, could it be that they are getting BTS as brand ambassadors for formula e and climate change to do a concert, in which case that will generate substantial reverence too? Remember that will be a recurring revenue.
How much will the e-fest generate if it lands in different host cities? Again that’s likely to be recurring revenue. If you do some actual research you can see that there may be an announcement about Seoul hosting Formula e next year, is that somewhere that the Chairman and BTS have links with?
Then there is all the other stuff they are doing like organising an new ocean yacht race (i.e. effectively move the Volvo hosting to an annual type event). Potentially new mass participation cycling and triathlon events around the world too. The new LCSE division could very significantly change the outlook for LVCG IMHO.
Then there is the KPOP concerts in Germany. Likely that they will enervate £5m advanced ticket sales for each night they run that alone.
All this adds up to a very nice potential, not just a recovery based upon the existing bricklive business, and make the group look even more attractive for a buyout IMO. But keep concentrating and commenting on the past if you want.