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Nice - all bases covered!
I hope it is a big success!
Mac,
I hear and acknowledge everything you are saying.
We even built and launched AgeBlock you can download at the app stores and is very device specific for parents who want an easy way to apply device level filtering of sites AND apps.....
just launched...
Of course, I agree that we don't want young kids stumbling across porn, but the government's responsibility is secondary - It is the parent's responsibility. The government should just be providing the information to help the parents do their job.
There are tools on all devices to prevent the content being shown - better than any age verification tool (but certainly not perfect) and you can even ask your ISP to block it at that level. If you have young children in your home then just take a small amount of your time to go and learn how to block this content from them. The majority of homes do not have children in them and they certainly don't have young children, so why force all adults to go through this process?
When children become teenagers they will search out the content. Only the big sites, which show legal content, will use the age verification and it will ultimately lead to teenagers:
1) Viewing content on other sites that are not legally required to get verification
2) Teaching an entire generation about VPN's and why every household should have one - which the government definitely doesn't want
3) Worst of all, they search and go down the rabbit hole of dodgy sites until they get viruses, illegal content and who knows what other possibilities, grooming, blackmail, etc.
I also think that the age verification tools will very quickly be cracked or credentials shared should a great demand appear for that and, if you're not logging access, then how can you stop them? If you are logging them, then you're a data risk.
I also fear for how far they might let it go. The two most annoying/frustrating parts of the internet are the sheer number of ads that are shown, severely degrading performance/the experience and pop-ups that get in the way. Yet, the EU government basically enforced every single website in the EU to have a pop-up telling you about cookies when you visit it!! People that don't understand the internet shouldn't be making decisions on it.
Imagine browsing the internet and having to authenticate again and again through different age verification providers as you browse your favourite "discovery" site, like facebook, reddit or even the likes of the bbc. Any video that's 18+ being required to verify your age. It's already there on some video sites... you won't believe the number of people that were born on January 1st 19XX! :)
I think that there is a place for age verification and twitter/Facebook are good examples. However, I believe that enforcing it on porn sites will lead to greater problems. A better solution is for parents to learn to block at the household level and for schools to educate the children on this and the many other modern online issues.
I do wish you luck with your business SJL and my comments are not going to affect anything, I just think it was a bad idea from the start... and the government has treated your company badly because of the initial decision.
That's all I have to say on this
Well said Bakky ,
With today’s technology advances it is totally possible to age verify someone , discard and destroy the “ proof “ given and then rely on tokenized “ credentials “ via the blockchain to allow consumers to visit multiple age restricted sites without the site knowing the “ identity “ of the consumer . Those that get in a flap worry about hacked files and leaked personal details . With a well designed credential system there is no information to be hacked . Totally anonymous when done properly ... age verification is going to become a “ thing “ with credentials issued for 13+ ( FB, Twitter ) , 15/16 + , 18+ and even 21 + ( new US vaping age ) . Separating age from identity is all it takes . No one can say it is ok for someone’s 8 year old daughter / granddaughter to be able to stumble on , with one click of the mouse, hardcore content . I am a true libertarian and free speech advocate . The technology now exists to protect all members of society from harmful content where appropriate, without infringing on anyone’s privacy ..
why is protecting kids against porn a bad decision? Surely this decision will be reversed?
I think there is definitely some scope in getting compensation considering that they said what they were looking to implement and then asking other companies to actually do the work... then changed their minds.
However, in my opinion, I do think they were right to change their minds as it was a bad decision in the first place.
I went through that whole process with icm re :xxx
Eventually we won but was a multi year and almost $6Mm in legal fees to triumph . Not for the feint hearted or shallow of pocket .
See today’s telegraph , I’m still at it :-)
https://www.telegraph.co.uk/news/2020/01/16/tech-companies-launch-legal-action-force-government-bring-18s/
That’s an interesting read 2crazy - blimey what a web of deceit all over a domain name!!! ICANN don’t come out of that review with any morals - but from what I read that’s common behaviour for that organisation. Who knows .hotel might be back on the market at some point - or maybe some compensation paid to reflect what appears to be a very dodgy process. SB
Interesting that .hotel is still not resolved ICANN drama continues. Fegistry, LLC, Minds + Machines Group, Ltd., Radix Domain Solutions Pte. Ltd., and Domain Ventures Partners PCC Limited (.HOTEL) 16 December 2019 https://www.icann.org/resources/pages/irp-fegistry-et-al-v-icann-hotel-2019-12-20-en
Not that many sellers about Bakky, (only about 40k sterling total sales).
MM's playing games again!
don't forget the one offs like the $1.4M for the review costs. Every little helps.. Cheers SJL, all looking good it seems. Very odd all these sellers about atm..
Bakky ,
Wouldn’t be a calc on revenues , more of a guess( also what are revenues ? Billings ?) If they sell a $3,000 adult block for 10 years in sept 2019 do they take $75 revenue for 2019? Hard one to forecast . As a simple Black Country bloke , I’m more of a cash through door kind of guy together with contracted recurring ... I think new trading cash through the door could well be 18-$20MM but “ reportable revenue as per FRS15?” Not so sure ... I think they “ should “ over achieve the fincapp forecast handily and again , with cash already in the bank , they may sensibly “ feed in “ the accounting revenue so that 2020 numbers show good progression from 2019.....with the extra cost cutting I have heard about and revenues not shrinking , just keep grinding extra cash profits out and wait for the inevitable bid .. make it a clean already trim easy bolt on for one of the PE players and talk the P/E up based on the future cost savings a consolidator would make by folding mmx in . As I have said many times a pro forma post acquisition $13-14MM profit for the buyer translates into a 20p price at the top end ... I will be quite amazed if shared don’t hit double digits before end of March .
''Ongoing channel growth, billings currently trending 15% ahead of Q3 2018 with brokered sales in line with the same period last year.'' and Q4 trading well whatever it means for TH sounds like 5-10%. Imo now they should know if we got a good start of the year. All depends all AdultBlock, .luxe and .law numbers. Hope we will get another positive update with clear path forward.
Correct bakky. H1 2018 was $6.4m, H2 2018 was $9.3m - $15.7m full year less $600k prior years adjustment. H1 2019 to date $8.9m - could we do $10m+ in H2 - let’s hope so!! SB
ah, forgot that Icm had the full year and not just 6 months, so yes nearer your numbers at least.
I haven't checked but I thought revenue was just over $15m last year.
bakky - did you mean $16M? That would equate to a 25% drop from the corresponding period last year. Even with no growth in H2 2019 we would hit $18.2m - which is pretty much where fincapp are. I am hopeful we will be $19m+ revenue, close on $7m ebitda before any write back of the $2.8m .London settlement accounting gain.
Nice to hear from you SJL - oh to be a fly on the wall in seattle.....SB
so SJ, with your best back of fag packet calcs, what is your opinion of y/e results? I am going for around $16m revenue and $6.5m ebitda. All depends how Adultblock has performed though.
I guess that’s where the 32 MM or so if options granted last year come in .
Gives them $1.5MM each on a decent exit .
That’s was the buy off from the non execs I think if u ask me ..
To be fair if a would be aquiror made an approach and weren’t getting too far they would know where to come :-)
thing is, why would TH/MS want to sell? Wouldn't they and others be doing themselves out of a job? I know it's not their call, but surely they would resist for as long as they could?
Bakky,
Wouldn’t we all !
They will sell but imho are playing it wisely : the buyers will come ...
get it up for sale !! I will rip your arm off for 15/16p..lol
Hi chaps,
Been laid a bit low recently with a decent dose of the old “ man flu “ , hence no posts.
From what I understand the BOD are meeting in Seattle yesterday and today and I’m sure they will be reviewing a lot of things and 2020 plans .
I recently had a few calls from the remaining icm staff who have been laid off post migration of the backend to Uniregistry. Assuming that Toby and Michael know what they are doing this is positive cost cutting and in truth of the the $2M plus overhead icm had from what I can see is zero left and COGS have been reduced with back end switch . We were making almost $5M ebitda on circa $7.5MM revenue and some simple bag of fag packet math can indicate that at similarish revenue levels with say adultblock taking up the slack of lack of one off premiums and I would say less than $500k of cogs and OH , you can see what FY contribution the former icm tlds can make . Minimum $6MM, imho perhaps more .
With Afilias likely to now be worried as they will no doubt lose the .org back end and other portfolio providers not looking so stellar , to me it appears that mMX is appearing to be the pick of the litter not perhaps the basket case it may have been viewed a few years ago . On any Pro rata valuation compared to org and / or donuts indicates a circa $180-$200MM valuation all day long on an exit . Imho the company is in an excellent position and the “ gamble “ we made selling to them in a partial stock deal I believe will end up proving to be a good move