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Quinnbet is a gaming website based in Ireland .last year their turnover grew a staggering 97% with profit of £2.2 million ,the business has grown year on year since its inception in 2016.webis is operating much longer and just trundling along steady turnover nice website but mundane..the reason for qiunnbets success is threefold fantastic incentives for the punter 1. 25% cashback of previous week's losses as a free bet 2 totally innovative and easy to navigate website. 3 great daily bonuses on horseracing and casino freebies to the regular punter. The UK gambling market is being strangled by intrusion and affordability checks on punters. The USA is the next big fixed b etting market .if quinnbet could get their hands on this company and integrate their strategy within the current webis website results could be stratospheric .webis currently own licences in numerous states and of course California would-be the icing on the cake. So what's webis worth I think Jim Mellon who owns 65% of share reckons he will get 50p per share that won't happen share and licences are 12p a share no more ,and Jim if I'm wrong take the company private at 10p and prove me wrong I would love to see quinnbet progress into USA market but anyone could sneak in here Fred done Denise Cotes or anyone else with the wonga a great time to step in with a bid with shares at a paltry 1.4p just my take from a man on the street an average Joe dyor all respectful comments appreciated
Cristal, it needs to go balistic. I've got an average of 8p.
Such a small free float - it’s almost impossible to buy at any time. I guess that means a whiff of news and it goes ballistic….
It's always been the same with this share.
Seen unreal movements in the past on really low trades..
Small free float here 4 small trades and up 8% is their a sniff of news?
I have topped up a couple of times in the past week, but not today. Although there is no news and the share price has tanked, there are very few sellers, this business is now so cheap each licence is supposed to be worth 5 million dollars and the business is valued at about just over one licence let alone the fact that it’s trading. Not sure how long to have to wait but I am still very confident that this will fly at some point imo keep the faith
Two small top ups today by the looks of it. Surely news incoming soon. Been very quiet on comms recently
It is easy to get emotive about the company and the macro situation as a whole as you see the little red % loss grow and it is normally part and parcel of investing. Take the good and bad days with equal measure.
However, there seems to be a case for an exception here as this is a public ally quoted company on AIM that requires our capital. The idea being in return we get information that informs our decision making process - sell, buy, hold etc. That side is not being adhered to and as a result makes it less attractive to new investors and frustrates holders to accept loses and sell up.
It seems so obvious that this needs a detailed strategy of where we are, where we would like to be and talks with potential acquirers. it makes the directors easy targets for those suggesting they are simply happy to pick up their wages.
In the meantime we are left with some embittered holders like myself to a degree . However, I misjudged this company when investing so in many respects my fault
Taser, you can add me to the large losses club.
Perhaps they need a taser up the backside.
is anybody actually running this company......hello.....anybody there.....what a crock of ****
I suppose we have to be careful what we wish for! If we formally announce this news without accompanying it with offsetting positive news we could be even further down.
A more proactive and positive agenda needs to be adopted. Wait and hope seems to be the order of the day but most here are sitting on large % losses and are well aware what that has brought us.
Make a deal - the value is in the licences not the business per se. Come on earn your salary - doing nothing but waiting for California to adopt new gambling laws in 2024 is not acceptable.
And has been for a while !!!! Just listened to the Arizona Gaming Commission minutes of their meeting held yesterday. The Commission are seeking to revoke the racing licence held for Arizona Downs and at the hearing yesterday it was mentioned twice that the Commission had refused permission for Harness Racing to take place at Arizona Downs. Why have the company not informed the market of this event especially as it was a key part of their on-going strategy. Email sent to ask why?
Well whatever it may or may not mean for us - betting was approved in North Carolina - if not a direct benefit, it shows the other states that it is possible to get the law passed, and like NY are showing, the amount of money that could be added to the government coffers
https://twitter.com/matthewkredell/status/1669025781690040325?s=46&t=reOxS0uqKjgSconptGwvHQ
For a public ally listed company they seem to have scant regard for either investor engagement or any proactive strategy to move this company forward.
Seriously we were informed if end of March timeline passed we would get an update? Add that the repeated comments on looking at strategic tie ins that never happen it borders on negligence.
So frustrating as they have the licences but absolutely no takers.
Anything in this for us? I don’t think we have a licence there already …
https://twitter.com/matthewkredell/status/1666515236701241345?s=46&t=reOxS0uqKjgSconptGwvHQ
Not sure how that works with a company looking to delist from AIM who at 25 April 2023, had cash of £516,000 with current contractual liabilities of £231,000. The Company also has ongoing costs including directors' fees, insurance costs, AIM listing fees, registrar fees, professional and other advisers' fees and website hosting costs. The directors of the Company (the "Directors" and together, the "Board") are taking steps to renegotiate fees where possible, however the current monthly spend is approximately £40,000 before any one-off expenses including advisory costs relating to the future of the Company.
Given the Company's cash position, its current contractual liabilities, the contingent liabilities it has to consider and the ongoing cost run-rate, the likelihood of the Company being able to continue for a period longer than three months from the date of this announcement before becoming insolvent is low.
At current free cash £285,000 and 53.5 million shares equates to 0.005p per share with ongoing expenditure to come off this. Current share price 0.0035p doesn’t shout out multibag.
Thanks for the advice but I’ll give it a miss.
Put your remaining 40k in to Itsarm (ITS) and watch it multi bag in a few weeks, just a friendly tip DYOR
And someones trying to stop u buying 38% spread wow
Someone wants in this morning - can sell up to 1.5 million shares if I want and that hasn't been available for many months now
I had a look at the balance sheet and intangibles are noted as a measly $11,000. To an accountant out there what are the licences classed as on the balance sheet and what is the attributed value?
Was a billionaire
£86k into an AIM microcap? You must be a billionaire.
I've been contacting the company regularly about Arizona Downs especially after The Arizona Gaming Commission gave the current owners notice on removal of their licence for not planning to run any track meets in 2023, especially as the Board had said in their interims.
As previously announced, we have a contract to operate live racing at this facility with a planned start date of September 2023. At present, we are simply awaiting our license hearing from the Arizona Gaming Commission. We expect this to be completed no later than the end of March 2023, but will inform shareholders if these dates change. We see this as an important revenue earner in its own right, but also as support for our Cal Expo operations. In addition, it would provide us with extra leverage outside of California.
. This was their latest response - My apologies for delay. We will update all shareholders re AZ Downs and discussions with the AZGC as soon as we have something concrete from them.
In other words NOTHING IS HAPPENING - my £86k invested is now worth £40k
Just noted California announced it is now $32 billion in debt worse than anticipated due to the current economic climate. I can see there is no getting away from legalising online gambling as it is a quick and relatively painless fix for many of their woes. I just wish the process wasn’t so long winded, but on the basis markets are forward looking by 6 months maybe a crumb of hope to hold onto.
Maybe a wry smile rather than a happy one. Never like to hear when someone’s hard earned savings disappear in a public company trusted to deliver growth.
It is a shame WEB can’t meet its own promises regarding updates. As they say revenue is vanity, profits sanity. Revenue is high but expected in this industry but converting to profits seems beyond them.
I hold in hope as there is a deal here to be done but the silence is deafening.