Adrian Hargrave, CEO of SEEEN, explains how the Company is now funded through to profitability. Watch the video here.
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Started: ODIEJET, 19 Dec 2022 10:31
Last post: ODIEJET, 19 Dec 2022 10:31
Has anyone with a Hargreaves Lansdowne account been credited?
Started: Agricore, 2 Dec 2022 14:02
Last post: Misterh, 16 Dec 2022 19:12
Credited to my account today at a rate of 29.86p per share. Slightly better than I was expecting. Full details are on the website.
So, have people's shares in TSL been automatically sold and funds will appear in nominee accounts any day now? Is there anything holders need to do? What was the final actual SP we will receive per share? Thx
Rotten timing for sale. At the current SQ. price, I calculate 28.8p. Very disappointing final outcome.
$69.17 x 618,750 shares = $42.8m = £35.1m
Market Cap of TSL at close was £30.7m so a 14.27% uplift (35.1/30.7) on a 28.5p share price = 32.57p per share that you hold.
Not a great outcome but it could have been worse. Chair Powell's interview caused SQ. to bounce earlier this week. It's a slightly over break even for me as I averaged down earlier this year.
GLA
Warno, you’re right that predicting the Ukraine crisis was beyond ST’s control but the tech was objectively overvalued - like yourself I was taking 50%+ off the table on stocks like this one in late 2021
Don't think Simon Thompson has any fault. Price has collapsed due to value of tech/fintech companies. If anyone had followed his first tips then they would be have had 3 baggers. I was 147% up on my holding at one point. Sold half and I am down 10% on the remainer. Bad decision making by me as an investor and thinking that buy now pay later firms would grow further before the Ukraine situation. Question is whether to invest proceeds into Block. In the current climate, I'm planning to hold the cash.
Over 90% shall - and did vote for the scheme .
It seems likely that we will see about 33.4p per share on around 7th December. Taking into account dividends I’m just above break even and commiserations to others who were led to this share by Simon Thompson . Least we can close the chapter
So who's gonna vote in favour or against the scheme? I'm still undecided...
Started: Misterh, 4 Nov 2022 09:32
Last post: Misterh, 4 Nov 2022 09:32
Pre-market SQ. price now $61.50 after analyst beating figures. Equivalent to c. 31.6p per TSL share by my calculations. Hopefully now with some wind in the sails, a decent time to top up.
Last post: Carcosa61, 15 Sep 2022 09:36
There is an implied threat of delisting the company if shareholders do not vote the way management want.
Eyewatering loss. But the rationale remains the same.
TSL confirm it makes no financial sense to keep TSL running (will lead to further shareholder value destruction).
The 15% discount to the conversion price in November remains the same. i.e. TSL's drop 36.5p to 30p corresponds perfectly to SQ's $85.94 -> $69 price. This is interesting because TSL previously wasn't correlating.
i.e. the market has cottoned on. So the question now is do you buy TSL and get a 15% return in November 2022 but run the risk that shareholders are the turkeys that do vote for Christmas - i.e. do vote against the scheme to shut down TSL and convert shares to cash at a 0.5% discount to SQ's price in November. The 2nd risk to consider is SQ drops lower than $69 in the next 6 weeks. Analyst consensus is that SQ offers upside, and is both profitable and cash generative albeit at a low level.
GLA
Interestingly even after the dust has settled, the special dividends given this still trades at a 2.9p a share discount to the current buy price (38p) and a 5.9p discount to the current offer price.
This means if the winding up vote goes through (see my earlier note it's madness to keep a £2m/year admin cost of a Plc going after October when it's only asset/operation are Block shares.... you lose about 5% of your holding per year while you wait!), there's a 14.4% return in 3 months to today's price plus (or minus) and movement from Square's market price (currently $85.94)
GLA
If Scaramucci is correct then SQ will do well in the coming months. If Bitcoin returns to $40k the unrealised gain on its BTC assets grows from $40m to $170m. $170m is only equal to 4% of SQ. market cap at today's $79 price but I doubt we would see a $79 price in a $40k Bitcoin world.
https://www.marketwatch.com/story/bitcoin-has-already-bottomed-has-a-fair-value-of-40-000-says-anthony-scaramucci-11659465805?mod=dist_amp_social&link=sfmw_tw&redirect=amp
https://www.tipranks.com/news/square-teams-up-with-apple-for-tap-to-pay/
Interesting that analysts see this as average upside of 70% according to Tip ranks. If that’s true then TSL is at a circa 70% discount to the future value of its Block shares.
Started: Agricore, 1 Aug 2022 23:41
Last post: MPeterson, 4 Aug 2022 01:08
Too much short-termism in a lot of the comments on here from people who bought in on the lows after the directors shafted the existing holders with a derisory deal woefully undervaluing TSL and it's potential. This initially looked good value when ST at Investors Chronicle tipped it up around the 70/75p mark and progressed to around £1.10. Soon after the sp tumbled following a very questionable and surprisingly low-ball priced deal announcement and here we find ourselves....
Personally I think we should see how this progresses now the bottom has been hit. The directors owe the shareholders that backed them more than this. They're suggesting take the cash (for many a 50%+ loss on their investment) and just invest the funds in Block at market price if you're still keen on being directly exposed. A decent discount on Block shares would be more appealing and fair if that were possible. Personally I'll be rejecting the offer and confidently looking to get nearer to my 70p average in a few months, like many
Worth being aware the Q2 2022 results for SQ come out this Thursday evening (4th Aug).
This will be the last quarter before the vote for the scheme (in Oct).
Consensus forecast Q2 earnings per share are 16c.
Last quarter earnings were forecast 20c and actual 18c.
https://www.investorschronicle.co.uk/ideas/2022/08/01/thinksmart-shareholders-should-think-twice/
Thompson has spoken. Hold out says the Tipster - reject the scheme.
Before I give my view on this advice. First I've been pondering the return on TSL. This evening's price puts TSL holding in Block worth 37.6p (618750 shares * $77.76 block price/1.2 FX rate)/106.59m shares. Warrants dilution potentially reduces this to around 36p (which ST quotes in his article).
I would remind shareholders of our recent special dividend June 22 and the dividend from December 2021 worth a further $0.0939 = 7.8p. That puts us at 36.2+7.8 = 44p equivalent return.
My reply to ST's advice is if you want to hold Block, vote for the motion receive your proceeds and reinvest them in SQ. It costs a few pounds to do so and if you are as bullish as ST now appears to be, then good luck. I may take this route too because I see a lot of opportunity in SQ. If I hold SQ. shares I can hold them or sell them in the future - I can't do that now because they are locked inside TSL shares.
**Importantly** to keep the TSL Plc running, costs a million or more a year (assuming they reduce costs). Why prolong these costs? The call centre income is finalising so all we will do if we vote against the scheme is reduce our holding of Block squares to pay ongoing corporate costs. Moreover, if we reject the scheme what's stopping this reverting to a 40% discount like before?? Rejecting the scheme is certain to drop the price of TSL.
So why did ST advise to reject the scheme?
Is ST hoping that time will revert this back up to a point where he can point to it as a success? He can't now, and a number of people bemoan the fact they listened to his tip here. Well, Simon Thompson if you're thinking twice then I'm thinking thrice and and I *WILL* be voting for the scheme and would encourage everyone else to do so for all the reasons outlined above......
GLA...... and Think Smart :)
Started: TheBlackWolf, 16 Jun 2022 16:58
Last post: CJ66, 1 Aug 2022 15:16
Thanks Agricore - and yes I have some TSL, unfortunately I have to admit at an average price of 65p - I thought the discount as was then would offer some cushion, although I am perhaps more unhappy at the Directors decisions than ST's poor call.
Fortunately it is only a small holding that I bought so I will probably cross fingers and wait - hoping for the 'littler loss'....!
That's how I'm viewing it also. I have TSL in two accounts at an average of 30p in one and and average of 41p in the other .... I'm hoping for at least 15% - 30% gain on the one pot and minimum 10% loss / hopefully breakeven or even slight profit on the other and then I'm out. Big lesson learned on not taking profits when this approached £1 and getting swayed by ST etc etc to hold ....
CJ, assuming you own TSL, the "gamble" as you put it (the calculation is how I would put it) is will Block fall more than the 15% discount between now the enactment of the scheme in the Autumn? (*WHEN THE DISCOUNT TO BLOCK WILL DISAPPEAR*)
Given that a scheme at today's values would give approx 34.5p per TSL share. That would be the break even between selling at 30p today and getting 30p in the Autumn if Block falls 15.5% from its current price.
If you think it will fall be more than 15.5%, then sell today and be done with it.
If you instead consider that Block holds unrealised profits on its crypto (held at $20k, bitcoin is currently $24k), the turbulence in crypto is beneficial to block (they earn on trades), it has a positive outlook, and the consensus view is almost unanimously that its 12 month price level is far higher than here then stay the course and earn 15%-30% (in my calculation) for sitting on TSL for a few months more.
In other words barring some serious down move in the market, the odds are skewed in your favour i.e. downside risk is low, and the upside prospect is reasonable.
If you bought it to TSL at 90p+ thanks to Simon Thompson etc and are set to make a loss then the lens you should be looking at is do I make a big loss or a little loss? But if, like me, you thought the prior price of 21.5p was far too cheap (see my previous posts about the 40%+ discount to NAV) then you shouldn't be sitting on a loss now anyway :)
GLA
Yes, it was based on Blocks current price of about $74 - so could go either way,
but TSL was always at a discount.
To my mind a complete gamble on what Blocks price will do - just consider
Up 195% over 5 yrs / down 70% over a year / down 40% over 6 mths / up 16% over 1 month....over the next 3 or 4 months ?!?
Yes that was my take.
Started: Misterh, 13 May 2022 18:31
Last post: Dysfunctional, 19 May 2022 05:09
https://block.brandlive.com/investor-day-2022/en/session/2c9836b4-c010-11ec-a230-b379299e726a
Interesting, especially re the Afterpay integration
I have this diarised for Wednesday
I see that they intend to provide an update regarding the Block holding ahead of the year end results announcement.
I did wonder if an in specie distribution is one of the options being considered. At least it would give shareholders control of when to sell their Block shares [not to mention the almighty boost it would give to the SP]
Started: davey50, 14 May 2022 20:50
Last post: davey50, 14 May 2022 20:50
If I was advising the board I would tell them to trade the shares. So every time Block goes on a good run sell loads, if it keeps going higher sell more because I'm pretty sure if they hold their nerve they will get the chance to buythem back a lot cheaper on all these huge swings in the price. Instead they just hold them which to me seems pointless. Either sell them on a good run and invest in a new business or return the cash or trade them. They closed around 84 which is well off the lows of the week. Price is around 14-16p below the NAV too but that means little as they never trade anywhere near the NAV but they should not be this much difference.
Steady buying going on at TLS this morning.
Started: InvestingGenius, 13 May 2022 08:15
Last post: InvestingGenius, 13 May 2022 08:15
Fantastic that £2.5m dividend is paying to investors. Just shows how strong TSLs business is currently despite the drop in shareprice
Their holding in Block ($SQ) bounced hard last night after a sustained period of dropping. So I expect we see a decent bounce here today into next week
Block/square has tanked, hence this has, but is a lot of that related to bitcoin tanking? Crypto seems to be only a small part of their business, with main business still doing ok? No sign of the bottom yet but surely it’s close.. a lot of negative sentiment for tsl but this now looks very cheap
Started: Thordon, 25 Apr 2022 21:36
Last post: Thordon, 25 Apr 2022 21:36
Block now at $102.67 a reduction from $133 from Thinksmart value at £60 million.
We did not need to sell for shares and could of just let options go full term.
BoD have a lot to answer for , and we are just a holding company
Started: OldGold, 8 Apr 2022 23:06
Last post: OldGold, 8 Apr 2022 23:06
Just came across this article on Block/Square going into Bitcoin Mining with Elon Musk. On Bloomberg so should be accurate info. Apologies if this information Is already out there.
https://www.bloomberg.com/news/articles/2022-04-08/tesla-to-partner-with-block-to-mine-bitcoin-at-texas-solar-plant
GLA
Started: Misterh, 29 Mar 2022 15:21
Last post: Misterh, 30 Mar 2022 09:11
Thanks Agricore for clarifying the options.
Misterh, 1/ a buy back would be to rebuy in the market, 2/ a tender offer is to offer to buy back from shareholders at or below NAV (typically above market price), or 3/ a capital reduction can just be done on the balance sheet to eliminate accumulated lossses (so is a debit/credit on the balance sheet)..... TSL has no accumulated losses (£126m accumulated gains as at 30/6/21) so I think it will be method 1 or 2. And since £2.5m is a relatively small sum I think it will be more efficient to do market buy backs.
GLA
ThinkSmart Limited (AIM: TSL), a specialist digital payments platform business, announces the intention to return approximately £2.5 million to shareholders.
Subject to shareholder approval at a General Meeting to be held prior to 30 June 2022, the Company intends to return an amount to shareholders in July 2022 of the Australian Dollar equivalent of approximately £2.5 million, consisting of a return of share capital of approximately £2.125 million in Australian Dollar equivalent by way of a capital reduction and an unfranked dividend of approximately £0.375 million in Australian Dollar equivalent.
ThinkSmart continues to hold a position of 618,750 shares in Block, Inc (NYSE: SQ) ("Block") which based on a closing price of US$138.12 on 28 March 2022 and 1.31 USD: 1 GBP is currently valued at £65.2m equivalent to 61 pence per TSL share
Am I right in assuming that the reduction in share capital will mean a share buyback or is there any other way of achieving this?
Started: surprised, 22 Mar 2022 20:59
Last post: surprised, 22 Mar 2022 21:16
https://twitter.com/surprised_trade/status/1506378403821277189
Block gets a 'conservative 'upgrade tonight to $190 ..(Block at $100.62 values TSL @ 50p ) ..Block sp = $141 today.... value gap and growing.
https://seekingalpha.com/news/3816031-block-price-target-raised-to-190-at-mizuho-on-teens-use-of-cash-app
Block (NYSE:SQ) stock is rising ~6% in early Tuesday trading after Mizuho Americas analyst Dan Dolev boosted his price target on the fintech to $190 from $180 due to Cash App gaining traction with teenagers.
Mizuho's survey of more than 200 parents with teenagers "found that Cash App is rapidly emerging as a leading financial app for teenagers, potentially driving several million incremental MAUs (monthly active users) and upside to 2022 Cash App GP (gross profit)," Dolev said.
Interviewed on CNBC Dolev said the initial upgrade to $190 was conservative and he fully expects Block to much bigger and $190 is likely to be just the start .
The average Wall Street rating on Block (SQ) is Buy with an average price target of $181.90.
Previously (Feb. 28), Block (SQ) upgraded to Outperform at BMO on rosy outlook for Cash App, Afterpay
Canaccord...
We note that our Canaccord colleagues, who formerly research Block in the US, have a target price of $210.00 (last note 24th Feb'22) If this were to be achieved it would imply a value for TSL of 98p,
Strong 9.9% move up at Block. Nice breakout on good volume.
Now 140.6 and looks to be headed higher.
https://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=SQ&insttype=Stock
127.74+11.69 (+10.07%)
As of 03:53PM EDT. Market open.
boom
block now 126 usd....
block up to 12 percent to 116
Started: surprised, 9 Mar 2022 17:10
Last post: hedged, 10 Mar 2022 08:45
ST's valuation failed to materialise. At least it gave me an opportunity to enter a position yesterday at 27p. But I wouldn't trust his advice given his performance on this stock.
with respect Hedge 30p to 115p+ was not bad and the Tech sector has been hit hard in past few months across the globe....situations change and it is clear based on the figures below that there is clear upside on just todays valuation let alone when Tech stocks start to gather momentum again, as they surely will :-)
ST has a terrible record when it comes to valuing TSL. If it surpassed his target he'd be valuing it at 150p again.
https://www.investorschronicle.co.uk/ideas/2022/03/09/targeting-a-glaring-valuation-disconnect/
Targeting a glaring valuation disconnect
The massive share price discount to book value of an Aim-traded finance company that holds a valuable stake in a New York-listed fintech fund is well worth exploiting....
ThinkSmart’s sum-of-the-parts valuation almost double its current share price.
......Analysts have an average target price of $182 on Block’s stock, albeit that’s well shy of the $270 level the stock was trading at last autumn. However, if the price recovers to that level it would value ThinkSmart’s stake at £86m (80.75p a share). Furthermore, with the UK company winding down its legacy leasing business, then shareholders can realistically expect some of the value in the Block holding to be returned to them as soon as the US group’s stock price more accurately reflects the intrinsic value of its fast-growing businesses.
The disconnect between ThinkSmart’s share price (27p) and its sum-of-the-parts valuation (50p) is not only anomalous, but you could more than treble your money if Block’s stock price rises by 82 per cent to that $182 target. Buy.
Started: surprised, 9 Mar 2022 10:10
Last post: surprised, 9 Mar 2022 10:10
Net assets at period end of £79.8m (31st Dec'21), equating to 75p (FY21: £134.5m, 126p). •In summary, revenue and underlying PBT is stronger than we had forecast, albeit the reported result has been negatively impacted by the de-rating of the tech sector. We shall review our forecasts in light of the stronger than expected interim results but note the investment case for TSL is almost entirely dependent on the performance of Block share
Valuation & recommendation
Our valuation methodology for TSL remains unchanged. We ascribe a value of 1x to the last reported tangible NAV (excluding Block shares) of £5.8m, and then add the markto-market value for Block shares (SQ_US $100.62 x 618,750 shares) of £47.4m. This results in a total mark-to-market value of £53.2m and a new TP of 50p (Old: 139p), offering 85% upside.
We note that our Canaccord colleagues, who formerly research Block in the US, have a target price of $210.00 (last note 24th Feb'22). If this were to be achieved it would imply a value for TSL of 98p, 264% upside.
https://twitter.com/surprised_trade/status/1501500703164051456
Last post: Oldfinger, 8 Mar 2022 12:21
2mr....Hope to bail in first thing if good...GL All OF
Started: barnetpeter, 28 Feb 2022 21:05
Last post: barnetpeter, 7 Mar 2022 11:45
Shame. Block has taken a kicking....
up another 7 per cent on upgrades and hit 131 highs tonight. Looks like 50 pence is possible for TSl ....which is ok for those that bought at the recent lows
Block inc shares still down 50% from a year ago, and this is now just a play on Block share price with a big discount that it always seems to have had.
Don't like the way the management has handled this - very poor and not properly explaining or enquiring of shareholders views. Looks like they are simply retaining a job to earn money twiddling fingers and just holding shares in another company hoping the share price will go up.
Bit like me now, as the share price had already dropped disastrously before I could sell out !!
Just back in Dec,
DYOR
Started: Indie07, 25 Feb 2022 10:37
Last post: Indie07, 25 Feb 2022 10:37
.
Started: surprised, 25 Feb 2022 09:54
Last post: surprised, 25 Feb 2022 09:54
ThinkSmart Limited (AIM: TSL), a specialist digital payments platform business, is pleased to note the fourth quarter earnings report issued by Block, Inc (NYSE: SQ) ("Block") which outlines significant ongoing growth and progress is being delivered.
ThinkSmart holds a position of 618,750 shares in Block, which based on a closing price of US$94.99 on 24 February 2022 is valued at US$58.8m. This shareholding follows the implementation of the Scheme of Arrangement for Block to acquire Afterpay Ltd, which ThinkSmart held a former interest in, on 1 February 2022.
The focus of ThinkSmart's strategy - which it will reiterate and expand upon when it publishes its Half Year Results for the six months ended 31 December 2021 on 9 March 2022 - is to deliver value to its shareholders via its holding in Block, and from the Group's operating business of the managed wind-down of the leasing business and the provision of the outsourced call centre customer service and support service to Clearpay. Therefore, ThinkSmart places emphasis on the public market disclosures, financial results, share price, and general overall operational performance of Block.
Block Fourth Quarter Highlights:
· Generated gross profit of $1.18 billion, up 47% year over year. Cash App generated gross profit of $518 million, up 37% year over year. Our Square ecosystem generated gross profit of $657 million, up 54% year over year.
· Cash Card has reached significant scale: there were more than 13 million Cash Card monthly actives in December, which represented more than 30% of Block's 44 million monthly transacting active base.
· Sellers have adopted more of Square's ecosystem over time, which has helped them grow: in 2021, 38% of Square's gross profit came from sellers using four or more products, compared to 10% in 2016.
Block Full Year 2021 Highlights:
· For the full year of 2021, gross profit was $4.42 billion, up 62% year over year, or 53% on a two-year CAGR basis.
· Cash App generated $2.07 billion in gross profit, up 69% year over year and 113% on a two-year CAGR basis.
· The Square ecosystem generated $2.32 billion in gross profit, up 54% year over year and 29% on a two-year CAGR basis.
Ned Montarello, Executive Chairman of ThinkSmart, said:
"Block is exerting itself as a global leader in payments that is performing extremely well in a challenging macro-economic environment. This set of above expectations results gives us significant confidence in the future growth prospects of Block and, subsequently, in our ability to generate and deliver value to our shareholders as a direct result of our shareholding with it."
Started: Money_Hoarder_95, 24 Feb 2022 21:41
Last post: Dysfunctional, 25 Feb 2022 08:04
Aus shares ended +32%
No contribution from APT in the quarter and year ended
indeed, excellent and welcome results for Square.....clearly a sum of parts valuation is considerably higher than current price and Sqaure/Block looks set to grow as anticipated. From the current lows it has a potential great deal of upside to make up and is clealry on it's way :-)
https://twitter.com/surprised_trade/status/1497109534686560275
117.61 +22.62 (+23.81%)
After hours: 5:25PM EST
Should rally tomorrow as Block beat exp and it was so bombed out...
Reported results are slightly above analysts' expectations but Block's shares are down on after-hours trading.
https://www.marketwatch.com/story/square-earnings-top-expectations-but-stock-dips-11645738222?mod=home-page
No doubt Thinksmart will continue to move sideways or go down tomorrow.