The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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A BBC report today on the current debt crisis faced by many local councils mentions Warrington and its investment in Redwood Bank:
https://www.bbc.co.uk/news/uk-67707156
JGOO LIMITED INDIRECT, more of a liability looking at their accounts. https://find-and-update.company-information.service.gov.uk/company/10805100/filing-history
It says if I read it right
Mode owns
JGOO LIMITED INDIRECT 100% Global Payments Platform with next generation of social media and mobile payments platform this is what's worth the money
Fibermode Limited Indirect Mode Digital wallet including Cryptocurrency
Grey fox Limited Indirect 100% mode for buisness
The 2022 annual reports and accounts have now been published in the 'Filing History' tab in the company's page on Companies House website.
That should make interesting reading ref accounts being submitted hopefully we will hear Johnathan intentions for R8 Capital Finance at the same time.
MODE/R8 accounts had been overdue for a couple of months, but have now been produced.
From the Companies House website:
09 Jan 2024 Group of companies' accounts made up to 31 December 2022
This document is being processed and will be available in 10 days.
Either way a 5/6months wait is going to be painful, i have around 15k tied up here average is below SP but wanting a decent return to cover past dealings ...
Croper33, unless the £9k hit £3k so circa 66% drop I'd not be at a loss.
A lot can happen between now and July once dilution amounts are confirmed and once the intention of the disposal or use of the crypto licence is announced.
I'll get a feel of which direction it is travelling when reinstated. I like to ride my winners and if it's not a winner get rid before the rot sets in.
Demolition123 for 25p to happen it's going to need a market cap of £500m+ on a good day the crypto licence is worth a max of £50m as that is what Mode spent getting it (including costs of setting up app's, websites etc) so probably half that.
After dilution I can see this opening and peaking at about 4p and then crashing to about 1.5p after. If they develop a crypto arm of the bank some may naively invest and push the price up longer term if the market conditions for crypto are favourable.
People seem to think there is a market place for a crypto bank, but why wouldn't people go with a name they can trust like PayPal or Coinbase which exists already. What would R8/ Redwoods USP be to draw people away from household names doing the same thing?
The whole concept of mode was flawed as affiliate cashback websites like topcashback and quidco already existed with massive amounts of partners in place. If people wanted cashback in bitcoin they could have just cashed the money out and deposited with paypal or coinbase. Just like the concept of mode being flawed the concept of there being a requirement for a bank with a crypto division is flawed.
I actually thought the best thing Mode could have done before they waste all their money was do a rights issue and try to buy Top Online Partners Group and tag the bitcoin function onto what would have been their competition.
Certainly not selling mine on open unless they open at 25p plus then I will only sell half and let the other half run mine is a long term investment,Excited but the wait is frustrating hopefully Johnathan let's us no what the future plans our soon
So the 9k ish worth shares you have in mode/r8 are you planning on selling upon opening and your expecting to lose money also ?
Crober23, because trading it was very profitable. I turned £3k into £11k which dropped to £9k and it is now sat waiting for the suspension to be lifted. If the £11k increased it would have been sold and bought back at a cheaper price.
I hope peoples optimism is correct but I can't see any major benefit after dilution. Hopefully I'm proved wrong.
Everything going digital,fintech,Sme,quicker than most people
think
https://www.pinsentmasons.com/out-law/news/fca-plans-new-uk-regulatory-regime-fiat-backed-stablecoin
I understand that but why would you still be holding ? did you not see the RTO happening / suspension, most i know did and held going into it as that was expected to be what would be classed as a "result" with the general expectation of some sort of profit at the end, whether thats 50% -500% all could be likely and as you say -50% could be also depending on the terms but going by the info and history we have , JR retweeting a post saying he was classed as a genius for previous spectacular rise and hoped for the same in r8/mode why would he retweet such if he was going to shaft everyone?
just don't know why your holding if your only looking to trade the share? surely you should have sold prior to the much expected suspension?
Demolition123, if you were correct bitcoin would always travel upwards in a straight line and never drop, this obviously isn't the case. Even if it hits 100,000 today it could drop to 25,000 by July. Agree with Lionswood one day bitcoin will be £1m but that might be 5 years away or 500 years away.
If an announcement comes out before the deal is done saying the licence is being utilised your predictions could come true but would need no dilution to existing shares which is unlikely. At the moment there is nothing that says the licence will be used, they are more likely to try and sell it to strengthen their balance sheet, that's what I'd expect from a bank.
IrnHaggis, still holding because it was a great share to trade. I'm up about 300% through buying low and selling high, also though there was a chance someone would pay between £5m and £10m for the crypto licence. The Redwood Bank deal may see the investment drop rather than go up,
Everyone on here says JR won't do over himself, mates and other shareholders of Mode, but that means a worse deal for the shareholders of Redwood. Pretty sure him and his mates are major shareholders of Redwood. The better the deal for Redwood the worse the deal for Mode.
What advice would you give to someone starting off in banking? And what should we watch out for in the industry?
Firstly, work hard and treat people as you would like to be treated yourself. And secondly, I believe we will start to see an increasing number of digital/tech banks and further significant developments in Open Banking and Artificial Intelligence, Blockchain and Crypto.
Agree with your BTC pricing FC demolition. It is the future, I can see a coin hitting $1m in the long term. Still risky but as Cathy Wood said, $200 a month for the next few years could be one of the best saving investments one could make. Yes she is controversial but her money talks.
Totally dissagree with you mate it's all about the crypto license and bitcoin being incorporated into the banking system,its here to stay and the future,this could give the advantage over other main line banks in a number of different ways,I also think the bitcoin will smash through 100,000 and could even go higher.Everything is heading that way fintech digitization bitcoin Sme my self beleive this will relist at 10p plus and continue rising anyone who is already on board will do well here
Just curious why are you still holding mode when there was plenty of time to sell out if you don't think its going to go up like the rest of us?
IF bitcoin hit 100,000 doubt it would stay there, it would do what bitcoin always does and crashes so unless it was very lucky and hit it the same day could not see this happening.
Also doubt bitcoin is going to play much of a part regarding the valuation of the new business. I think the crypto licence may get used but no one will get burnt on they hype like they previously did with Mode post the IPO, most investors would like to see if the crypto licence actually generates a profit rather than speculation like it was with Mode/ R8.
I've got a bit of skin in the game so would like to be wrong but think all the positive comments on here are blindely optimistic,
...
If bitcoin goes over the 100,000 and looks like its heading in that direction I could see this opening up a lot higher than 10p and quickly gain momentum and go way way higher,all depends on what kind of deal they do.Just hope us share holders get a good result I am hoping all Johnathans buisness associates pile in when this relist
The timing off bitcoin recovery, uk moving into the crypto space, the lack of uk banks with crypto license (not fast to get ) then i cant see why mode/r8 relative share price wont open up beyond 8p however it always depends on the condition and trade in shares we give away
Yes I hope they give shareholders and good deal and I'm optimistic that both technologies will be a market leading open banking app with the crypto modde app all together that would be amazing. And make up for my losses elsewhere over the years trading just need 1 good stock