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Tsl sold 90% of clearpay for 1million afterpay shares on 23aug 2018. On 24 aug 2018 they sold 750 afterpay shares for 20aud . Feb 2019 sold remains . How short sighted this was! They are now underselling the remaining holding in clearpay with no indication how quickly they will sell block shares.
Hi Rosy...with respect, are you holding your shares through the transfer to Block shares or selling your holding ?
....the figures are clear re value as per rns ----'' the Consideration Shares equate to a value of £78.1m which, together with the £6.5m of cash and other assets equates to £84.6m '' ...that equates to around 75 as it stands....current mcap is just £55m at 52p !
...and if as you repeatedly post the bod sell at a low price that would be contray to the rns as per----- ''We believe this outcome provides our shareholders with an opportunity to continue the exciting Afterpay journey now directly with Block and we as a Board see continued long term value accretion with this outcome."
maybe the bod will keep the Square shares, add value as the rns suggests over time and clearly there appears to be a value gap from current figures of 53p to 75p .....add in the potential for a forward look and increasingfurther value in fintech, bnpl and square's ambition to develop there may be some substantial upside ahead as per the rns
' the Consideration Shares equate to a value of ?78.1m which, together with the ?6.5m of cash and other assets equates to ?84.6m '' ...that equates to around 75p as it stands....current mcap is just ?55m at 52p
IMO, the shares in Block have a lot of upside, so its not hard to see the total TSL assets here north of 100m fairly quickly. If things go well this year, a SP target of £1.00 is not unreasonable. This is my only Fintech and Crypto exposure, happy to buy at a discount with little downside. I dont think there is much to discuss about Ned or TSL anymore, I think the discussion should be all about Block.
The average broker consensus for Block is $290. Even the lowest target is above the current SP.
https://www.wsj.com/market-data/quotes/SQ/research-ratings
Q3 Financials for Block
https://investors.block.xyz/financials/quarterly-results/default.aspx
BTC up 2% today - $47500, heading back toward $50k and the 50MA, which most are saying will be very bullish.
Block out of the Blocks also up 3% today still trading near to the TSL deal price, currently $166.
From Block Q3 Shareholder letter:
In the fourth quarter of 2020 and first quarter of
2021, we invested $50 million and $170 million,
respectively, in bitcoin. As an indefinite-lived
intangible asset, bitcoin is subject to impairment
losses if the fair value of bitcoin decreases below
the carrying value during the assessed period. In the
third quarter, we recognized a bitcoin impairment
loss of $6 million on our bitcoin investment.
As of September 30, 2021, the fair value of our
investment in bitcoin was $352 million based on
observable market prices, which is $203 million
greater than the carrying value of the investment.
The accounting rules for
bitcoin will require us to
recognize any decreases in
market price below carrying
value as an impairment
charge, with no upward
revisions recognized when
the market price increases
until the sale of that bitcoin.
30th Sept, BTC was trading at $43800, so up around 10% at todays prices.
TSL - Let it low, let it low, let it load up.