Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Hi WsKR.
My driving motivation is ‘the truth’. I’ve got a bee in my bonnet because BIDS lied to the market about its 2018 revenues.
I, as should everyone else, take being lied to personally, particularly when it’s my cash being spent.
My life experiences lend me to assume liars tend to not be able to stop. Ergo, I believe Draper will keep puffing up his company in an attempt to get the next shovel-load of cash, in order for them to keep from running out of cash. They clearly still don’t have any ‘significant’ revenues coming in, otherwise that simple fact would have been highlighted in the RNS.
Yet, whilst running out of cash is the key risk here, BIDS still has some value; value that some other company will recognise and be able to put a price on. My guess is that SFOR would be very keen to buy the contractual rights of BIDS at the right price. I’m plumbing for 12p because it will be a level that saves some face for Draper and will still see him and Fran clear a couple of million in cash (making the last few years at least worthwhile).
Their problem is now trust. Can we trust them? Trust is very like virginity; we all have it to start off with, but when it’s gone, it’s gone.
If no-one buys BIDS then it have to raise cash, and I can’t see that occurring currently. I fully recognise I could be wrong on this point and BIDS could raise another few million.
As I’ve said a few times now; this is binary; either they raise cash or they get taken over. There is currently no revenues of note to keep on the lights of 3-4 offices and 90+ - people - and time is definitely not on their side. They have 8 weeks left. Which, to put into context, will likely be less time than we will all have to likely remain in lockdown.
Fingers crossed.
what is any company worth?
could it be £25m or 10p share?
tech worth maybe £10m or £20m. thoughts?
contracts less so maybe £2m or £4m. Valuable to have excl deals?
time to market. build or buy. time has value?
possible £20m or more, but all down to buyer discretion.
Intrepid, why would anyone pay your predicted £25M for Bidstack if they are (in your words) not a viable company?
You no longer have shares and instead have gone long on IG at around 4p. You say you won’t close because it will be bought at 12p. Yet you are also strongly advising people not to invest themselves in this company that is just smoke and mirrors. This is all very unusual.
Agreed intrepid.
hope so, hivedoff.
but the cynic in me (created by the events, not the puff) thinks JD stated 6th April because that's the day he know lots of mugs will have another £20k in their ISAs to throw his way. look out for another 'not quite saying anything' RNS that will tempt in all that lovely new ISA-rinsed cash.
Sorry, but that's the level of my Bidleif in JD. Come on Martin Sorrell, put us out of our misery and buy this company up.
I’ve got a feeling this will be the day when JD really delivers and we can all start dreaming about 20x30. He did indicate it could be 2/3 years away, but he might surprise us all and get there sooner.
On Monday we should hear about a deal with a ‘global entertainment company’, this could be stratospheric for Bids.
As someone mentioned earlier, in many ways the timing couldn’t be worse, just as most of us want to load up with the new ISA allowance. This could blow...