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I must admit I thought they were due this week as well.
Can only hope today's selling was not by 'those in the know'.
Where are the Interim Results due today? Lack of news is bad. More share price falls expected?
Carp, fair enough comments, but I don't think anyone expected the fractions to sell out before the exchange was created. I don't even think many buyers of the fractions are buying them to sell on, more for the 'satisfaction' of owning part of the rarest stamp. Let's face it, it's the nearest most of us will ever get to owning part of it.
The main thing is that even if there is a big stockpile of sold fractions, it does not come back to SG as a liability. Once sold, that is it. From what I can see, most sales currently arise overnight suggesting they are tapping into US buyers.
It seems to me that the main benefit will arise once Showpiece unveil their next item / rarity to be fractionally owned - which SG will again gain from. This could be anything - a property, rare car etc, but it all helps the SG bottom line.
I certainly think there will be other stamps and coins in due course to be fractionally owned but other assets are likely to be outside of SG's normal ownership, despite us all gaining from their sale.
"Sales of the 1c fractional ownership scheme are going well, auctions are going well"
I have to disagree, Pearls. In the last 4 days they have sold 60 fractions, so about 15 a day. At this rate it will take them 5 years to sell all of the available ones, not to mention the other 40,000 held by SG themselves.
The people who "invested" will be sorely disappointed if and when these fractions can be traded if there is a big stockpile of unsold fractions in the vault!
I thought SG might have tapped into something as it seemed early investors bought into the idea of fractional ownership, but now it seems a stuggle to sell fractions. I expect more SG promotions, more discounting and less profit for SG.
''It will all get a superboost once the exchange is set up allowing fractional owners to sell / buy their fractions ....''
Perhaps you mean superBOOT ?
None of the lemmings will be able to sell their bad buys for 6 months or so. By which point SG will be no more sadly.
If they get 10p then, for their 1 quid "investment" I'd be most surprised.
If these shares are to go up, they will.
Sales of the 1c fractional ownership scheme are going well, auctions are going well, publications dept is reviving and starting to reissue a variety of catalogues, the shop floor is open and seeing a lot of footfall, and exhibitions are resuming. The coin side is doing really well as well.
So why is the share price down so much today? This is surely a buying opportunity especially with the half yearly update due very soon which should confirm that things are turning round at long last?
Going back to one of your first points Carp, if SG raise say £4m sales from the 1c stamp, I'd like to see them take that off of their overall debt. As you can tell, this could swiftly be a game changer, especially once Showpiece gets going with other sales of other items / rarities for example, some of which no doubt will be multiples of the 1c in size. I think it is probably one of the best ways I have seen in years to erase a company's debt.
It will all get a superboost once the exchange is set up allowing fractional owners to sell / buy their fractions....
Carp, the point is that SG has been literally 'provided' with the 1c magenta and told to do what it can to increase sales on the back of owning it. It has been provided on a completely interest free basis, there is nothing to pay Phoenix for it, and from what I can see, sales are going well and are leading to increasing shop visits as well. There is regular footfall in the shop which must be leading to other sales and the publicity machine is beginning to stoke things up nicely.
What intrigues me is that Showpiece will be selling other things in due course, all of which will be revenue earners for SG, this must be good news. Add to that the great auction results, and the return of shows exhibitions and trade business and I would imagine the company will be moving back into the black next year. It just looks extremely positive to me at the moment.
On the other hand, we need some RNSs stating how the company is turning, after the half yearly results due shortly, then next update is some time away in June 2022 but the market should be even more positive for SG by then. They are also about to materially boost their catalogue issuing side soon with a range of catalogues to be issued for many areas. Again, all revenue producing.
Carp, the point is that SG has been literally 'provided' with the 1c magenta and told to do what it can to increase sales on the back of owning it. It has been provided on a completely interest free basis, there is nothing to pay Phoenix for it, and from what I can see, sales are going well and are leading to increasing shop visits as well. There is regular footfall in the shop which must be leading to other sales and the publicity machine is beginning to stoke things up nicely.
What intrigues me is that Showpiece will be selling other things in due course, all of which will be revenue earners for SG, this must be good news. Add to that the great auction results, and the return of shows exhibitions and trade business and I would imagine the company will be moving back into the black next year. It just looks extremely positive to me at the moment.
On the other hand, we need some RNSs stating how the company is turning, after the half yearly results due shortly, then next update is some time away in June 2022 but the market should be even more positive for SG by then. They are also about to materially boost their catalogue issuing side soon with a range of catalogues to be issued for many areas. Again, all revenue producing.
I wouldn’t look at it that way. Rather consider it like a interest being earned on the stamp…
We still have no idea how SG intends to make a profit out of the BG stamp if it is retaining 49% of the fractions. If they sell the 40,800 public offering and rake in approx £4m, this is still less than the purchase cost of the stamp.
The fact the company is silent on this indicates they have no idea either.
Pearls you are mistaken, 50,131 fractions have not been sold, 10,931 have been sold, and 39,200 are being kept by Stanley Gibbons
50,131 fractions now sold.
29,869 fractions left.....
What stamp will be sold next?
As I have said before, when is the market going to disclose the size of this order? These delayed publications of trades allow a share like this one which is less frequently traded to move much more erratically than it should do without such manipulation.
Seems clear that the new CFO's appointment confirms the changing direction of SG which is clearly focusing much more on the internet and the crypto arena.
Fascinating stuff and hopefully they are leading the market in this regard.
Certainly the market seems to appreciate these positive updates.
It seems to me that things are changing at SG at a rate of knots currently, and we are starting to get increased RNSs reflecting newsflow but also that I would guess the Company is trying harder to attract investors at last. This is beginning to look a lot more positive and I can only imagine that the half year update will enlighten us all further.
Although trading is light today in the shares, it definitely seems to be perking up - perhaps one day in the near future we will go over 4p again?
Sales have slowed right down now though.
Well selling 25% of the available pieces in the first 10 days is pretty impressive.
BC
Good question Carp. I want to know how quickly they plan to accept payment by crypto currencies? I suspect that will massively increase the speed at which the remaining 30,000 get sold.
Both that and the exchange system allowing anyone to buy and sell their fractional ownership should have been ready to go from day one, not sometime in 2022.
Sg state 51% of the 80,000 are available to the public, therefore 40,800, of which approx 30,000 are still left according to Showpiece website.
Assuming SG do manage to sell all of these, what happens to their retained 39,200 fractions and how are these going to be monetised? Without selling them, SG cannot make a profit on the original purchase.
Interesting one, Pear.
From what I can understand there are loads of NFT issues now, covering all sorts of things but where I think there is especial interest is where a well known brand launch an NFT - for example Ferrari or Disney.
It's a different way of collecting / investing in what is a low interest rate economy I suppose.
I do wonder how popular such things would be if interest rates / inflation levels were 10% or more.
ZKIN currently $2.85.
SGI currently £3.15.
Let the race begin.
If you're looking for an NFT-based company with decent reversal opportunities that's already been proven to pump alongside the rest of the crypto-sector, check out ZK International Group on Nasdaq.
https://finance.yahoo.com/quote/ZKIN?p=ZKIN
Also, mildly worryingly, SG won’t vote at all when it comes to sale, so it’s 60% of the 51% remaining, so only 30% of the owners need to vote
The max you can own is 10%
3 rich friends could buy 10% each for 800k and another friend can put an offer in for £1million
Since those 3 friends are the majority voting power they can accept that offer,
Allowing them to buy the stamp between the 4 of them for 3.4million ??????
If I had the money I would 100% orchestrate that just to mug them off