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Aardvark - The below is from the RNS dated 28th September 2022.
"Conclusions based on portfolio review
Based on the current carrying valuations of Dynasty, SatoshiPay, Sthaler and the market price of the quoted investments the portfolio has a current value of approximately £11.9million which is equivalent to an estimated NAV per share of approximately 0.24p.
For the reasons highlighted above, the Board believes there is significant scope for this figure to materially increase over the next twelve to eighteen months. Accordingly, the Board intends to focus its attention and resources on supporting its two core investee companies and does not anticipate making any new investments for the foreseeable future.
In addition, the Board intend to manage the Company with a focus on funding the business, insofar as possible, through the sale of its existing non-core investments.
The Board will cut all non-essential costs and is proposing to put in place a share option scheme on a time and performance basis. The terms of the option scheme will reflect the Directors belief in the inherent value of the two main investments. Details of the scheme will be announced later this year and will cover a maximum percentage of 5 per cent, maximum life of 3 years and proposed exercise prices of at least 0.35p per share.
Long term strategy
The Board believes the two major investments have the potential to provide significant value for shareholders and the focus will therefore be on managing the Company to maximise the prospects of achieving a successful exit of these investments within the next two years. Assuming this can be achieved the Board intends to consult with shareholders to decide on the most appropriate course of action to ensure shareholder interests are best served."
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We will hopefully find out soon how much Satoshipay is worth, but even at a zero valuation, Dynasty was worth more than our current market cap today, based on that old valuation. Plus since then has entered in to lucrative deals, that I'm confident (even if you're not) add further value.
Blubutton, you state: 'all i can say on a positive side, is that the cumulative value of Dynasty and Spay are worth multiples of where we are now.'
I'm not sure you can write that with any certainty, proof or anything substantive. The price action of BLU shares in recent months is telling us that the value of the two main assets are nowhere near that. The achievements of both, as commercial concerns, is highly questionable and it would be prudent to ask oneself if these shares actually have any instrinsic value at all.
Yea haha
Or
How about this tagline
“Join Pendulum - where we instantly reward you with trips around the world BEFORE we get any business deals done or make any substantive money”
Slug Mum it did make me laugh again on twitter, Pendulum still talking about their 'Global Tour'... lol
Lisbon was Nov 13-16 and apparrently they had a great time in Rio too, happy days indeed!! haha.
They should nick The Navy's tagline... 'Join Pendulum - See the World!'
The thing is… how can anyone not be disappointed with Satoshipay and Tony
It was Tony who updated the market in September 2022 via RNS pledging Satoshipay would save our bacon in 12-18 months time
We are now 14 months in & nothing substantive has happened
Yes there’s still 4 months for them to turn things around but when Satoshipays delayed roadmap is overlaid onto Tony’s bluprint…. the stars simply do not align
Selling Satoshipay to the highest bidder is the best option
@slug
i think your satoshi bashing maybe goes a little too far , though i understand your frustration.
Satoshipay have some great products, the FX Nabla is / could be incredible, however they need to be launched to produce revenue, for far too long Spay have been interested in the tech not the business, they need revenue and have been told so.
i think an investment bank, payment company would soon whip these guys into shape, lets see them miss a milestone then.
Satoshipay alone have to be worth more than 0.1 to BLU, so do Dynasty.
its been a long long road with this serial underachiever, i would not be averse to getting a valuation on both and being rid of the BLU ticker in my portfolio once and for all.
there is lots of blame to go around, everything Satoshipay, Dynasty arguably misleading investors/poor newsflow, delays, TF issues, Del Boy Issues.
such are financial markets.
anywhere between 0.3 and 0.4 , 0.4 is only £20m market cap, many had expected Spay to worth this to BLU alone. not going to be so.
communications and progress have been incredibly bad this Year, that's on TF. he should have pushed the companies harder, he sold all of his stock in the rally of 21/22 thus one could question , does he have the owners eye?
misleading info from Dynasty in 2021, that they "anticipated floating on ASX within 12 months and had no need to raise further funds", 2 years on , with zero from them this Year. obviously they have not floated, we don't know why or what the next plan is.
all i can say on a positive side, is that the cumulative value of Dynasty and Spay are worth multiples of where we are now.
if neither company wishes or wish to delay valuation then sell our holding to their competitors (if they want it, this is the sharper end of business, but we are only interested in BLU value, who gives a damn about what Spay or Dynasty think), that will focus both Spay and Dynasty.
if TF cant do it, give Benchmark Dynasty holding to too ... time to focus on BLU returns.
TF under massive pressure here, time for him to deliver something after all this time, he is not salaried, however he made coin from his shares and will benefit from exercise of warrants at 0.35 +
time to get all assets valued , sold and returned to shareholders. the merry go round has to stop.
message ends ------
Satoshipay have got 9 milestones on their ‘new’ Q4 2024 roadmap
Given that the last two weeks of December are usually quieter business periods due to festive holidays, we are well past the business halfway mark of Q4.
You’d think they would have hit perhaps 5 or 6 of their milestones.
They’ve hit 0/9…
On track for another calamity quarter
I will certainly be checking to see if the Satoshipay goons do anything over the Christmas break, as it’s a good opportunity to bury bad news…. & their accounts have not been submitted yet
Come on Benchmark… find a buyer for a reasonable price and get shot of this ASAP
& So much for Daniel Masters being the silver bullet for Satoshipay…
I’m going to write all his substantive achievements for Satoshipay below;
This is the how the roadmap looked last month, before they deployed some creative writers to dressup failure as success:
https://web.archive.org/web/20231020070947/https://pendulumchain.org/
SatoshiPay have finally updated their roadmap, hurrah.
Typically, they have missed milestones and kicked them into the next quarter, with absolutely no acknowledgement.
Nabla Forex AMM Launch, and Spacewalk Pendulum Launch have both silently slipped into Q4. and they've padded out Q3 with new fluff because they missed all but one of the original milestones.
They're nothing if not consistent
Where are the Satoshipay fanboys
Oh look nowhere to be seen
"The Seller" does make me laugh. There never seems to be a TR1, but always a solitary seller.
I suspect the volatility here just makes it very appealing to traders. I have a holding pot I'll persevere with, and probably go down with the Titanic , but I've started trading too.
Every move is on sentiment, there hasn't been significant news in forever. Any rise is worth selling into because the drop is inevitable. I might miss out if SatoshiPay is off loaded for a huge price, but the price swings are too easy at the moment
ATB
"THE seller".. No one with a holding over 3% has bought or sold since August. The largest trade in that time is a clip of 9mln. What makes you think it is one seller ?
“Shooting to 0.11 this morning “
😳 it dropped 18% yesterday on low volume, buys to sells not massive.. Aim market is so rigged an dodgy it’s amazing how they get away with it.. 😩
@steamy
i really have no clue who it is.
Del Boy only had 200m shares, more than that has been sold over last several weeks in the size and regularity seen of last couple of days
Blubutton - "of more interest , short term is , who is the seller ?"
I've been wondering this. If it's anyone we know, I'd prefer it to be Lew, if it's nefarios.
The first thing that came to mind on the RNS this morning was that of coincidence with the selling of even larger amounts than before.
@bobsson
strange conclusion.
wouldnt say its white flag, BLU have flagged this for many months, if you have made a n ROI and have been awaiting a suitable time for valuation, then as the Satoshipay / Pendulum project launch nears completion, now would seem the best time to flush out a valuation. there is at least then a recent metric on which to gauge progress if no sale, or pass Spay onto another investor having made a reasonable return.
the BLU Spay return Valuation at £5m = 0.1 for BLU , £10m = 0.2
i do agree that Satoshipay should finally start to hit their milestones with Pendulum/Nabla/and SpacewalkonPendulum ... they have not thus far and the next milestone for all of them is in 4 weeks.
Dynasty could prove the same, though they at least have a product to market and revenue.
lets put it in realistic terms,
even on a worst case scenario (my WCS at least) if Spay is only worth 0.1 and Dynasty is only worth 0.1, you still double your money from here.
there are much better outcomes that could be argued, we now await valuation and updates from Dynasty.
of more interest , short term is , who is the seller ?
if there is a future announcement that would offer advantage to the instigator of this selling activity, then the FCA should be eager to investigate as they now have 2 days of trade and price action to view which can not be argued against.
Just hoping SatoshiPay valuation is much more than most envisage blue star capital could catche all on the sideline.
Looks great..... SatoshiPay would bring £5m+ maybe £10m
https://twitter.com/VOXmarkets/status/1724769071818768413?t=6zIDGEtitnHdOfnslj73Wg&s=19
Just tuned in. I think Pablo has nailed it in his post at 10.05 today. This is a white flag from Blue Star, they have no funds to further invest in Spay, BLU is inviting low ball bids for its large stake. As usual shareholders likely to get shafted, value will be way below what most holders need to break even. It about time Spay started to hit a lot of these missed milestones. If they do then value should quickly rise.
He's clearly got a screw loose Crawshaw.
Hey EarlofAim. Did you know that last year Wilko had a revenue of £1.4 Billion. How much profit did they make?
SteamyWee, if you look further down, he's come up with a £5m profit figure on those fictitious $11m revs.
Amazing.
EarlofAim - Revenue doesn't equal profit. Revenue is the takings of the business. It is not the net amount after expenditure.
This is the blue star capital thread Earl
Do you have any BLU, Satoshipay or Dynasty fundamentals you’d like to discuss earl ?
I note you’ve posted a link several times, so other than that of course
EarlofAim is the ultimate inverse indicator, if you see him ramping a stock it's time to run