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QBT’s value is not restricted to mining bitty.
The discovery of thousands of undeclared private swimming pools in France has provided an unexpected windfall for French tax authorities.
Following an experiment using artificial intelligence (AI), more than 20,000 hidden pools were discovered.
They have amassed some €10m ($9.9; £8.5m) in revenue, French media is reporting.
https://www.bbc.co.uk/news/world-europe-62717599
AI and bockchain technology has unlimited applications. GLA, 600
I would not say news excludes the announcement of a new NED but selfishly, I would like the NED appointed BEFORE the real news drops. I posted before that I sold 500k shares the day before suspension believing the SP would drop. It did but then went back up before I bought them (plus the intended 20,000 shares back). More fool me or just greedy? I did sell a higher percentage of my holding than I would normally with day trading. Lesson learned!
Digging around the last couple of weeks suggests to me that there are plenty of very capable scientists that could be working on the various teams here. It is really difficult to identify them! What does this mean to me? FG has choice and I do believe he is very keen to make this work, not least with the £40+m debts there are with the companies where he is a director. Annoyingly, I cannot guesstimate what the SP might go to, but I can see he could easily clear those debts. The $64,000 question: are we going to get a blockbuster RNS that sends the SP a bit further than Artemis.
Patience is meaningless now; I need to buy back my 500k shares BEFORE this happens because I am greedy. GLA, 600
I would not say news excludes the announcement of a new NED but selfishly, I would like the NED appointed BEFORE the real news drops. I posted before that I sold 500k shares the day before suspension believing the SP would drop. It did but then went back up before I bought them (plus the intended 20,000 shares back). More fool me or just greedy? I did sell a higher percentage of my holding than I would normally with day trading. Lesson learned!
Digging around the last couple of weeks suggests to me that there are plenty of very capable scientists that could be working on the various teams here. It is really difficult to identify them! What does this mean to me? FG has choice and I do believe he is very keen to make this work, not least with the £40+m debts there are with the companies where he is a director. Annoyingly, I cannot guesstimate what the SP might go to, but I can see he could easily clear those debts. The $64,000 question: are we going to get a blockbuster RNS that sends the SP a bit further than Artemis.
Patience is meaningless now; I need to buy back my 500k shares BEFORE this happens because I am greedy. GLA, 600
Mr Brian, well done with your earlier research and finding Rita Pizzi. Certainly not easy to find peeps working for QBT!
Awaiting news is soooo boring - alas essential. Our day will come. ATB
PAS14, Thanks and well remembered - Mr Brian has re-posted his great find. Shame my memory sometimes plays games! ATB
The funeral of Reg Eccles is tomorrow.
The RNS on 11 March 2022 said “The Company is pleased to announce that it has appointed an international expert in the field of Machine Learning to its AI Research Team. The expert is the former head of the Neural Networks Research Laboratory of the Department of Computer Science of the University of Milan.” Could this be Bruno Apolloni?
Bruno Apolloni is full a professor in Computer Science at the Department of Computer Science of the Milan University, Italy. His main research interests are in the frontier area between probability, mathematical statistics and computer science, with special regard to statistical bases of learning, sub symbolic, and symbolic learning processes, granular computing, and modelling of dynamical processes in biology and in network theory. He introduced the Algorithmic Inference approach in statistics as a conceptual and methodological tool to solve modern computational learning problems with the massive use of computers. In particular, it provides a unifying theoretical framework to the various data analysis and management disciplines converging under the granular computing heading. He also introduced some non-Marconian processes to model intentionality in a wide range of biological systems ranging from bacteria colonies to social communities. Recently he focused on new paradigms of social networks based on advanced WEB services and computational intelligence tools. He authored around 150 scientific papers and two monographs.
Waiting patiently for news. ATB, 600
cloud10, I absolutely agree with your last sentence, especialy peeps having the choice. I would have hoped Mr Eccles has now been laid to rest, so for me, I feel we should have an NED in post any day now. I do have reservations that this will happen immediately, I think it is more likely to be at least another month, FG is not a man to rush anything. By saying that, I am hoping to tempt fate and have news of an appointment sooner. ATB
Suthy, I agree. It is down to trust. ATB
Suthy, that's exactly what I meant with "FG needs to identify what skills any NED needs to bring to the table." The fact that he is so often the sole director suggests to me that he considers he has the complete skillset to run these other companies. Having run companies myself, I really don't think anybody is that talented. It might also explain why his communications are lacking - too busy doing everything himself? ATB
Coomunication doesn't seem to be FG's forte.
Interesting to note FinnCap’s report with ARB’s Interim Half Year Results 2022; “In FY23, we continue to assume a BTC price of $50k….” Personally, I have always though bitty is unpredictable. Regulation and adoption could change that and from these levels so there could be a significant recovery. Be good if QBT delivered before bitty.
I’ve been caught with my trousers down! Being certain we were not going to see 5p by/on 15 August, I decided to trade some of my holding. I sold 500k just gone 8:00 on 15 August and things looked good - I was planning on buying back and gaining 20k shares for free but the price started to climb back. I’m 500k shares adrift and cursing. Really hoping we get the suspension lifted prior to the results! Being greedy might not pay? Time will tell but QBT is anything other than predictable. ATB, 600
With the passing of Reginald Eccles and the suspension of trading, I decided to dig deeper. Records at Companies House reveal that FG has had 18 directorships within the UK. He holds others in various other countries. See https://find-and-update.company-information.service.gov.uk/officers/jhCKYQ10zHy-fp1MkSXG8WaUEl8/appointments
• 18 directorships with 16 UK companies
• 6 resignations and 2 re-appointments; Brainspark Associates & Infusion 2009
• 3 companies were dissolved - 2 struck off & 1 voluntary
• 4 of these companies had two directors (FG and one other) - FG does not appear to have held a directorship with 3 or more directors at the same time
• He currently holds 9 directorships where he is the sole director
• Nearly all the accounts were signed off by FG and in most cases the company’s claimed exemption under section 477 of the Companies Act 2006 relating to small companies (exempt from audit)
My interpretation of the Financial Statements is that the following made losses according to the latest sets of accounts: -
i) Brainspark Associates Ltd (£36,255,172)
ii) Quantum Blockchain Technologies Plc (£5,396,000)
iii) Infusion 2012 Ltd (£201,200)
iv) Regeneration Enabling Devices International Ltd (£54,186)
v) Clear Leisure 2017 Ltd (€48,624)
Within the Financial Statements for Brainspark Associates Ltd is the statement “The company has a net liabilities position £36,255,172 as a 31st of December 2020 (2019: net liabilities £36,295,807). The company’s operational existence is dependent on funding from its parent company Quantum Blockchain Technologies PLC. As disclosed within the financial statements of Quantum Blockchain Technologies Plc the going concern basis is dependent on its raising further funding through an equity placing on AIM, or through other external sources, to support the ongoing working capital requirements.
After making due inquiries, the Director has formed a judgment that there is a reasonable expectation that the company can secure further adequate resources to continue in operational existence for the foreseeable future and that adequate arrangement will be in place to enable the settlement of their financial commitments, as and when they fall due.”
With Clear Leisure 2017 Ltd the auditors stated “We draw your attention to note 2.2 in the financial statements which state that the company incurred substantial losses during the year and is in a net liabilities position. Note 2.2 also highlights that its parent company (Quantum Blockchain Technology Ltd) has also incurred substantial losses during the year and the operation existence is still dependent on the ability to raise further funding either through an equity placing, or through other external sources of finance. The impact of this together with other matter set out in the note, indicate that the material uncertainty exists that may cast significant doubt on the Company and parent company’s ability to continue as a going concern.” Cont.
Whilst the records at Companies House tend to highlight some of the risks for me, I think one needs to delve a bit deeper into FG. His earlier career is what I believe is highly relevant now. FG graduated in Theoretical Physics at Padova University in 1979. From 1984 to 2014, he has been Research Associate Professor at Udine, Milano and Siena University lecturing in Artificial Intelligence, Theory and Application of Computation, Virtual Reality, Man-Machine Interaction and related topics.
He undertook a U.K. Government Artificial Intelligence research project at Exeter University (U.K.) from 1980 to 1982. His academic writing includes more than 50 individual and joint publications and three books on the subject of Artificial Intelligence as editor. In 1983, he was employed by the Italian National Research Council and from 1984 to 1985 he worked at the European Union Research Centre in Ispra, Italy as Co-coordinator of the Artificial Intelligence Laboratory. Since 2006 he has worked extensively in China. He serves as a Director of Knowledge Stones S.p.A. In 1983, he founded AISofwt@re SPA and served as its Chief Executive Officer.
WELL WORTH A READ: https://www.exprivia.it/wp-content/uploads/2022/05/2001_11_09_aisoftw_re_acquired_100_of_labornet_and_transferred_82_of_knowledge_stones_to.pdf
AND https://www.marketscreener.com/business-leaders/Francesco-Gardin-05N5J3-E/biography/
The second half of FG’s career seems to have moved into various industries including the leisure and hospitality sectors, and finance. In April 2021 he announced the '180 degree u-turn' for strategy and name to Quantum Blockchain Technologies. For me, that meant a return to his forte, AI. Let’s not forget bitcoin reached $68,000 in November 2021 but has plummeted to today’s levels since FG moved into this field. So, for me, this could justify some of the delays with results, not to mention the complexity of this extensive R&D program.
Although there is a fair amount of negativity surrounding the company there is equally enough to be hopeful about. IF FG and the teams pull this off, then the debts will, IMO, be paid as this is a $b industry reaching to $t if bitty bites back.
I think a fair criticism is on communications. No comments on the expiry of the expert’s 5p options is terrible. Like some, I believe there needed to be a decent period with the passing of Reginald Eccles but I am not convinced we will get news of a replacement NED any time soon; FG needs to identify what skills any NED needs to bring to the table. All IMO & DYOR, 600
Anybody know if this will set the Sipiem Court case back?
notready1, I'm certainly not depressed nor whinging. Been a bit more realistic than some here becasue I don'e expect news to be so soon. Holding firm, all in and patient but realistic.
Suthy, thanks. I'm not sure FG will extend the expert's options, we have to wait and see. I do agree that if he doesn't, that sends the wrong message to all the other option holders, and shareholders. We definitely need solid and clear news to avoid the floodgate of sellers draging the SP down. For me, I can excuse getting the timing of the options wrong considering the complexity of the works in hand. I'm not so liberal with the timing with his REPO. Time will tell. ATB
I guess we have seen the weak, those with perhaps no strategy, selling their shares here, hoping to move on to something faster. I also suspect these are the peeps who do not do proper research, the impulsive ones.
Monday is the latest day for the 5p options - as it stands. With the revelation yesterday on the patent application, I can see some’s frustration. I do believe we should have been given that news. Or maybe we have when FG spoke about the next applications. One thing for sure, we need solid, clear news of where we stand so the market can gauge the risk/reward and the undecided make their decisions - buy or sell.
I see the potential here, but we need to have designed a faster/greener chip that puts us at the forefront of blockchain technology - not just mining bitcoin. Until the market gets that solid, and clear news, we will stagnate. I do not see FG as a man who deliberately misleads his shareholders. I’m holding tight hoping this will come true. ATB, 600
A beautiful morning here. Still waiting for news. If Monday comes and goes without any news, it is the expert who loses out, not you unless you sell at a loss. IMO, there is still hope. This is blockchain technology and not just bitcoin optimisation although that would be another plus - if the R&D teams succeed. ATB, 600
I really don’t expect much before news breaks, PI’s are loaded and II’s are waiting to see what the risks are. ATB, 600
Addisonshare, good idea. ATB
Good morning all, nobody knows what to say? News pending! When? I don’t know! I responded to 22Starship22 at close yesterday saying “I'd rather have a leap into 20's or more on the news”. The truth of the matter is that I haven’t got a clue what the SP might do with positive news. Partly because the news could be minor or major. Saying “anything between 7p to 12p would be a nice start” is, in honesty, more realistic but could be optimistic. My 20p plus is because I only want to sell enough to recover my investment and have a free ride with what I hope, is a golden nest egg. Enjoy your day/week/? 600