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Bennster. that is very helpful. thank you.
I can certainly visualise how they would generate an income stream in the way that you have explained things.
No worries Atlantic - I wouldn't presume to know all about the inner workings of OBC myself!
The creation of wealth through the Narni bridge is complex, but as I understand it the technology OBC have developed allows people to pool some cryptocurrency of either type in a kind of reserve - then when somebody wants to do a swap between cryptocurrency they can do so for a small fee, using the pool of resource already there.
There's a small transaction fee for OBC in each move and the providers of the liquidity get a small fee too (0.3% of transaction I think) - this is like a foreign exchange provider in fiat currency.
The true value isn't just with the Ethereum to Polygon chain at present, it's if we can link Ethereum to the Binance blockchain because then we become the cheapest means of exchange for anybody in a much wider market who wants to transfer cryptocurrencies from one to another.
The bit that floats my boat is the acceptance of cryptocurrency and NFT's across the mainstream - because if this is adopted what OBC become is a new age FOREX type of exchange and that could be ballistic.
OBC aren't the only developers of this kind of tech - some companies are looking at fiat currency to crypto, so once it's all developed we have something that is adopted worldwide and feels legitimate.
Hope that makes some sort of sense - Dubjon etc. correct me if I'm wrong.
Benster thank you for taking the time to reply .I think the answer to your question to me is that I lack the understanding that's needed. I can visualise how the make money from their stakes but I can't see how they intend to generate an income stream.
I am sure that is down to me but I can't see from their description in the accounts what the generation of income actually looks like.
I admit to taking a little extra position (beyond my main tranche) at 46.7p an hour ago.
I agree it's been a case of sell on news, even though there's nothing bad in it.
A decent amount of larger buys are now showing.
A bit of an overreaction today IMHO.
Lets see if the 3pm rush will help us out a little.
Hi Atlantic - why do you think OBC is just an investment holding company?
It's clear that the attention and effort is in launching the Narni bridge across more and more of the blockchain universe to generate "material" revenues in the future.
The accounts merely confirm that OBC have liquidity and a nice holding of the company they founded (17.5% of AFN)
This tells me that they are financially self sufficient now, so hopefully low risk of dilution. What the future brings with the Narni bridge and NFT work is what offers the growth and value for the future.
Meanwhile the Umbria price continues to climb. $1.74 up 7.04% at 11.14 today. Market cap $17,436,441.28.
Benster surely if all obc is offering is an investment holding Company the upside potential must be limited?
I've had a good scan through - nothing here that surprises me.
Obviously the YE date is June, so lots of the increase in AFN value and the developments in Narni Bridge are not factored in...
No liabiliites, £1.5M in the bank and still hold 17.5% of AFN
Very little revenue either, but cash covers at least 3 years of overhead, so shouldn't get diluted anytime soon on a cash call
The true value of OBC resides in the Narni bridge starting to return "material" revenues - particularly now we have confirmation it'll link to Binance shortly.
Then there's the benefits of AFN ownership - the dividend should help with any short term capital needs.
The only thing (I may have missed) is any reference to NFT progress?