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Current market value of 0.3m sterling at a price of 7p per share.
Yet CRV's holding in Stormfjord is valued at $1.2m+, if those buying in to the two funding rounds have made cogent decisions. Yet the underlying product seems economcally unviable to me.
Magazinos.com is due to fund raise shortly: My feeling is that this will value CRV's holding in the domain at a higher valuation than our 300 k market cap. Again to my mind the underlying product is economically unviable.
-The two medical licences may well come good. If they do, CRV's share i may be worth a few hundred K in each.
-TV Zinos no value in my view. Pitiful user figures.
- Bio-Vitos: if they do finally get sales/distributor agreements in place for their supplements - Omega oils and Collagen products, CRV's holding here may be worth more than 300K.
So all in all, the current share price seems to me to be too low.
1. The four remaining Swedish investee companies remain pre-revenue.
I was pretty surprised by this. As I assumed Bio-Vitos would already be flogging its numerous brands of Omega Oils via Amazon. Apparently, however, it's still searching for third party distributors/vendors. Amazon connection fallen through? (The same goes for the iron supplement used by heart patients.)
2. The Company has a growing debt of $1.237m (about $300k more than last year.) The debt is to Craven industrial Holdings. It pays 5%. (I assume that's part of the assets of Craven North America?) The $300k figure probably gives a realistic view of Craven Capital's running costs. So for the moment, CRIH provides a lifeline to CRV. How long can that go on? A few years, I'd guess. So CRV is a going concern.
The Report includes the claim that the two entities do not exert undue influence one over the other, in spite of MP being the main director of both. What's clear is that Craven Capital would not find it easy to raise debt from non-related parties.
3. Honeydog owns 25% of the licence of Temodex. This brain tumour drug is close to completing all clinical trials before marketing and sales.
4. TV Zinos anticipate advertising revenue beginning 2023. They now have 20k unique users per month.
Let's put it another way: hardly anyone uses TV Zinos. Any advertising revenue will be miniscule until there are magnitudes more users. I can't see that happening.
5. Garimon:
- Magazinos: plans for a fund-raising early 2022 were postponed because its servers are in the Ukraine. The servers are being re-located and fund-raising will follow.
-Onebas: post-year end this was transferred into a separate entity called Stormfjord Ltd. Funds were then raised in which Craven Capital was not involved (for obvious reasons: there's no spare cash.) These put an implied value of $5m on Stormfjord. Craven hold 26.2% of Stormfjord. ((So worth $1.3m.))
All shareholders should remember that this is still a public company. Being unquoted doesn't change that.
Public companies have to fulfil many legal obligations in the way they operate and report, though less than an AIM listed company, of course.
I understand and share the frustration of other shareholders in view of the some of the decisions made. But everyone should be clear: CRIH still exists; the auditors signed off on the accounts and will have done some due diligence on their accuracy. So shareholders should make an effort to engage with the company. And understand that it's a going concern.
Of course, this works both ways. It's a great pity that the Company - i.e. the two remaining directors don't seem to get the benefits that flow from keeping shareholders updated. One problem that makes that task more complicated is that the filed shareholder register is hopelessly out-of-date. I didn't find either my own or the holdings of various other shareholders whom I either know or know of.
Hello, fellow holders,
I've dredged through publicly available information on CRIH.
Unfortunately, they are now reporting with notable delays. So the most recent report has a balance sheet date end May 2021.
I'm giving a review based solely on the small limited amount of information available in the said report.
DLC Holdings: at balance sheet date valued at $2.9m US. The SP was 8 Canadian cents per share. (Currently 10 cents per share.)
Qeton written down to zero: no reason or details given. But we knew this was in difficulties with COVID complicating the economic connection with Angola.
Craven House Angola: still valued at $600k. Asset is a loan. Nothing else, I believe.
Craven House North America: valued about $2.7m. No details as to the various assets this is made up of.
Kwikbuild: about $626k. Ditto.
There was a modest profit of just over $1m.
Don't get too excited! This is entirely down to DLC's quote being higher at 31st May 2021 than a year earlier. As a spoiler, I can tell you all now that DLC was quoting at 5.5 cents end May 2022. (So there'll be a loss in the next accounts. Meanwhile, I repeat that DLC is currently at 10 cents per share.)
https://www.tek.no/nyheter/nyhet/i/bG9BJ3/gaar-i-strupen-paa-spotify-med-ny-norsk-musikktjeneste
https://www.morgenbladet.no/kultur/musikk/2022/09/01/kan-en-gratis-sokemotor-fra-norge-konkurrere-med-spotify/
https://norway.postsen.com/music/39909/Going-at-Spotify%E2%80%99s-throat-with-a-new-Norwegian-music-service.html
http://www.musikindustrin.se/2022/09/06/johansson-om-ny-norsk-streamingtjanst-cora-gruff-och-spotify-releaser/
https://sweden.postsen.com/live-style/32568/JOHANSSON-about-new-Norwegian-streaming-service-Cora-gruff-and-Spotify-releases.html
https://www.altomdata.dk/ny-gratis-musikstreamingtjeneste-aabner-i-danmark/
https://mobilsiden.dk/nyheder/musik-eboeger-podcast/gratis-musikstreamingtjeneste-klar-i-danmark-70-gaar-til-musikerne/
https://gaffa.dk/nyheder/2022/nyhed_september/ny-gratis-musikstreamingtjeneste-klar-i-danmark/
https://www.imdb.com/title/tt11564258/
https://www.nasdaq.com/market-activity/stocks/spot
www.onebas.com
www.tvzinos.com
www.biovitos.com
What has happened to this company is just disgraceful. From the initial valuations given to companies with turnovers that basically would entitle them to universal credit, to the total lack of information to the market. MC now stands at circa £300k, and that appears generous. Then we look at CIH. DLC in Canada has a bid of 0.025c and if a trade appears there you can throw a party. The rest of it? Good luck trying to get out of it with a fraction of your initial investment. Meanwhile at Pajak towers, the gravy train rolls on..
Looks like you weren't far off!
I wonder if the management have any interest if commenting on the situation or whether they have forgotten the company still exists.
Guess I shouldn't bet!!!
Anyone want to start a sweepstake on the likely date this dodo of a share falls below 5p ? Or the cost of the listing becomes prohibitive and it disappears altogether?
I'll wager Liz Truss will remain in situ longer than the aforementioned possibilities become realities.........
I agree 100% with CJohn Spains post.......this to me is heading to nowhere but the scrapheap. So disappointing.
Well, time will tell......;)
A huge buzz is one thing: revenue is another.
Currently, there's zero revenue: and I don't see that the proposed business model is viable.
https://gaffa.dk/nyheder/2022/nyhed_september/ny-gratis-musikstreamingtjeneste-klar-i-danmark/
John
Where do you get Zero from?
I am located in Sweden and work in the music business and it is a huge buzz regarding ONEBas.com Music
All artists hate Spotify and are welcoming the new clean business model where an artist gets for real 70% of the revenues they create, on Spotify only the well-known get paid, so artists hate Spotify
Please give me the name of one artist that said Spotify is the best that has happened me;)
Spotify: $10.76bn revenue.
Onebas: zero revenue and highly unlikely to generate much revenue given it's business model.
Onebas worth around zero.
It's very hard to see how this venture is commercially viable.
Hello Steve 1848,
CIH filed results in July with the Irish financial authorities. So it still exists, but is on a very delayed reporting rhythm, so there may be nothing new to learn.
I'll try to update with anything learned shortly.
it's up to us as shareholders to track down information and keep an eye on what's happening.
Remember CIH is a public company and should be fulfilling minimum standards of service to its shareholders. Unfortunately, by being inaccessible, it seriously annoys its minority shareholders, which is short-sighted.
Interesting .
Outstanding
https://www.altomdata.dk/ny-gratis-musikstreamingtjeneste-aabner-i-danmark/