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SLW, Three years ago e-sports was supposed to be the next big thing. It turned out is wasn`t. Dynasty are a private company so very difficult to get a regular news flow as to how it is performing. Take a look at GILD share price graph over 3 years, if Dynasty was listed it would probably look the same. Dynasty and Guild both e-sports companies in which BLU had shareholdings in, and both turned out to be dogs.
Thanks Nikkib :-)
Dynasty was largely financed by convertible load notes, which gave the holders the option to convert their loans into shares if any material event occurred. Holders chose to do this, which diluted our holding.
Slugmum, thanks for the reply although the gist for any reply was in the question:
>Can somone explain in simple English and math how the valuation of Dynasty became 10x less to Blu overnight?
How was it valued prior?
What event/math made it less?
There's no explanation
Cheers - SLW
Seemslukewarm
A case of the emperors new clothes
I fear Satoshipay will be ringfenced in exactly the same pen
All talk, no trousers… or clothes in this instance
Tony must be either tearing out what hair he has left, or he is past caring
Seemingly like the latter , certainly for H2 of last year and also this year to present day
Have the Satoshipay fan boys even listened to the recent interview (4-6 weeks ago) with allincrypto?
For the majority, all they talk about is tech… and very little on the business side
Get some interviews lined up with business brains, YouTubers who work/worked in banking/forex, who are pushing for a revolution. Global b2b… who can take them to task on how they are going to make money and what their strategy is for obtaining market share and quashing competitors with their superior product
Immediately!!!!
Not some crypto kid who reaffirms everything they are doing from a tech perspective just because it’s blockchain related!
They need to get the right eyeballs on their product- otherwise how are they going to find new investors ? Benchmark have been next to useless thus far… probably this message has given more directive than we’ve seen in recent months and this type of PR - asides from manpower setting up appointments is free!
No travel costs as it can all be done through teams/webcam/ zoom or whatever is in now
Would all Satoshipay staff be able to say hand on heart that they have tried absolutely everything possible to make a success of this ?
I’ll leave that for you to answer
The RNS offers no explanation as to how this valuation tanked.
Can somone explain in simple English and math how the valuation of Dynasty became 10x less to Blu overnight?
Cheers - SLW
Having re-read the latest missive from BLU, it is a pretty dire situation. Dynasty was, for many, the nugget and Satoshipay the gamble. Dynasty’s ship has now sailed (or should I say sunk) and we now wait for a miracle from Satoshipay. At 90% underwater, I’ll hold and pray!
It’s not yet another week down the swanee is it?
Another week down the swanee by Satoshipay…. Aka the emperors new clothes
404x
Not quite sure what your point is? So you've found various appointments for a 62 year old guy who just happens to currently be appointed at BLU. Not sure how old you are, but I'm sure you'll have had more than one job by the time you're 62 🤣
Luckily i got out of this at .09
Wonder where big mouth is now to antagonise the "peasants"on here ?
Told u not to trust it
Think Duke may have lost a fair bit here
Thought Nick had sold out in the high .2's
Horrible turn of events here for holders. NAV of .11 so maybe a glimmer of hope if S/pay pulls through.
Yep basket case. Avoid!
How on earth has the total remuneration risen +100%! If Fabrizi is taking 165k in shares something tells me he has a floor for the Satoshi sale.
Appreciate this is akin to advising the door is bolted after the horse, but anyone still considering investing here recommend doing some basic due diligence on the executive chairman (ceo until 2021). Appears on companies house under various guises including
Anthony FABRIZI
Anthony Bodie FABRIZI
Francisco Anthony Bodie FABRIZI
I won't link to all his profiles, they're easily searchable, but one of the multiple below as an example, showing trail of dissolved companies and insolvencies.
https://find-and-update.company-information.service.gov.uk/officers/UEGDdhknjbaKKL7-X1AzF6qlbM8/appointments
Sour grapes hobsy
However it’s not over just yet
I too, am clinging on to the one in a million chance that Nabla launches successfully
Perhaps 888 is right, IF Nabla launches successfully, it might be time to revisit the RTO which was attempted in 2018/2019 but failed
I don't intend to kick holders here while you're already down, I actually feel for anyone who's in this. The lack of tangible progress with the Satoshipay sale and today's grim RNS says it all. For the type of folk easily persuaded by rampers and not really understanding crypto, this could have cost people a lot of money if it wasn't for posters like Slug.
Appreciate the acknowledgement 404
Tony’s already talking about winding down the company so I sadly doubt Satoshipay have anything to offer
if you’re expecting a fairytale ending here… then you’re going to get a rude awakening
hobsy you are just jealous
we are all heavily in the red here - except for short term trading opportunities we’ve all lost
404x - Now it's "a sales process which may or may not lead to an offer".
It's always said that. 15th November 20230 "The Board wishes to stress that the process may or may not lead to an acceptable offer for the sale of part or all of its shareholding in SatoshiPay and Blue Star is under no obligation to accept any offers received."
In January they said about Satoshipay that feedback was "encouraging and the Company Is pleased with progress to date".
Now it's "a sales process which may or may not lead to an offer".
Seems a bit bleak and even the updated NAV now looks wildly optimistic. Credit to Slugmum2000 for seeing through the bs here, without those home truths this is just the kind of stock rampers would have otherwise had a field day with.
Even if by absolute miracle Satoshipay hold their lofty 2019 valuation, it’s worth approx 0.1p to us…
There are no winners here. I’d rather be proven wrong by the nonsense talkers and make money rather than have this situation
The only nugget from todays report that might not be a lump of turd - "Nabla launching Soon".
Otherwise pretty poor as expected - personally I am not selling here - until later in the bull run for cypto anyhow.
Very depressing to re-read impact of Dynasty - not just their business but also the dilution of Bluestars stake to only 2.3% if all options and warrants are taken.
I will await a Satoshi pay sale update but depending on Nabla launch that may be it for me.
Taken from todays RNS
“Our focus is on securing an attractive offer for our shareholding in SatoshiPay later this year at which point the Board will consult with shareholders over the Company's future."
I take that as winding down BLU
Unless Satoshipay can do the unthinkable (don’t get your hopes up)
Dtransfer was mothballed -so again, although I was shot down about that at the time - I was right about that also
The writings on the wall
Taken from the 15/11/23 RNS…
“It's the Board's belief that while SatoshiPay has made significant progress in recent years, it would benefit from an investor better equipped both financially and strategically to support SatoshiPay's aggressive growth plans. The Board will update the market on this process in due course.”
Why do they need more money ?
We’ve not had a substantive update on Satoshipays shenanigans, so the in due course part is nonsense
Taken from the 16/01/24 RNS…
“Benchmark has advised that the initial reaction to the investment memorandum has been encouraging and the Company Is pleased with progress to date.”
Pleased with progress? What progress? It’s been over 2 months since that RNS and heard nothing since.
No matter what they are, desirable things don’t take this long to sell
It’s time to shut up shop and call it a day. These numpties aren’t doing anything in a month of Sundays. Years, and years, and years of producing f all
Wasn’t March supposed to be heralded as the month when they deliver ? Yes there’s a few days left but there’s little chance of them bucking the trend of their shambolic performance
Taken from 28/09/22 RNS
“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.“
Note within the RNS how Dynasty was listed BEFORE Satoshipay
Pendulums 2023 roadmap Q3 has ‘Audit’ as a completed task. The more I think about it the more the audit likely showed they had nothing of substantive value, hence the radio silence.
We are racing towards the end of Q1 yet still, their H1 2024 roadmap has nothing marked as complete.
I said the exact same at the end of Q3 and Q4 2023.
They can’t even be bothered to segregate their roadmap into quarters… just H1 and H2. Not exactly a difficult job, is it?
Always appreciate your input Ragnarr. Do you think we are headed for extinction or a happy ending?