Member Info for Armada

At the time of listing 107.3m shares at 2p each (raised £ 1.2m) were issued to Directors and related parties. Next thing 9.3m shares were issued at 43p each. Since then retail and institutional investors have been buying and taking part in the various placements. Only if they have gone through the listing documents before hand, they wouldn't be sitting on big losses. Even AURA DIGITAL LTD the holder of 33m shares presuming they took part in last placement at 7.75p are sitting on £ 1m paper loss. DYOR before any high risk investment is the learning point I think.

At present company has 2Billion shares in issue and another 600million will be exercised in the near term at nil rate. Today the company's M/C is £ 32million. If we add 600m shares as well the M/C becomes £ 41million.

How come the 21m new shares will be admitted on 9/4 before the issuance. Unless there will be another RNS about the issue price. In the previous agreement the shares were admitted after their placement.

My first buy was at 344p, next day it went to 400p and then to 360p. I came out at 360p. I again bought at 248p but the price was

dropping and sold out at 223p with a small loss. Then I found out about 137m share options to be exercised at 2.5p each after 25/4/2026. I have decided not to buy at any price until the options are fully exercised.That's my opinion. DYOR

When CLNs were issued £97m was paid in Bitcoins (1097 BTCs). In the quarterly report on 8th August company had £54m of cash.

I have done a quick valuation post CLN convertion @ 1p. £163.6 million raised which will be converted into 16.36 Billion shares. Add 527m shares already

issued. Therefore, 17 Billion shares @ 2.5p each will value the company at 425m pounds. The current value of 1148 BTCs @ $109,000 converted into Pounds will be £92.5 million. Add cash in hand of £54.5 m gives NAV of 147m pounds.

That 200m spent on buying BTCs was other investors money and nothing from the Directors. The so called institutional investors who took part in the funding at 327p,295p, 292p etc were also using other peoples money.

I am trying to establish the logic behind investing in this company now, especially after knowing about forthcoming 137m shares warrants. They will hugely reduce the NAV per share . Unless directors take steps to cancel the warrants or find some alternative to increase the NAV. On 20/6/25 the company was valued at £ 1.1 Billion (220m shares @ 500p each) and today it has come down to £ 370m. I can't persuade anybody not to buy and at the same time I can't stop anybody from buying. I am only presenting the facts and figures. DYOR

Can't buy or sell at Interactive Investors. Which brokers are active at present?

The recent placement has no guarantee.The 1.898m shares have already been issued. The 98% guarantee was given to

bond holders of $21m. The only Smarter thing here are the Directors and related parties who bought 139m shares @ 2.5p and also issued Warrants to themselves worth 137m shares @ 2.5p.

The closing share price on 11/8 was 225 and on 22/8 was 153. The average price was 189pence. The issue price of 193p was OK

but the buyers are already 25% down.

When the Directors and related parties were issued 139m plus 7m shares @ 2.5p each, was there a time restrictions on selling.

They also have 137m shares warrants entitlement @ 2.5p each from 25/4/26. In the falling market even selling @ 100p a share will give them 283m pounds and it will depress the share price even more.

Does anybody think that the directors and the related parties will have any moral responsibility and cancel or surrender the entitlement to their Warrants?

The original investors will be laughing all the way to the bank at the expense of retail investors and institutional investors who bought at higher price. The company issued 139m shares at 2.5p each and also issued same numbers of warrants.By doing so they raised £ 3.5m approx. Now see the value of 139m plus 137m shares at current price of 210p will be 580m. This is all most the current value of the whole company. These are the facts, nothing is presumed.

According to Bantham there are 96m warrants which will be exercised from 25/4/2026. I have just gone through point (19 SHARE OPTIONS) and the

total is 137m warrants at 2.5p per share. 39m warrants are due to K Capital. The 137m shares whenever exercised will bring in £ 3,425,408 for the company.

In my opinion SWC is far too expensive in comparison to MSTR and SMLR. By the way you can hold all the 3 companies in your SIPP and ISA.

I have been a buyer and seller of SWC a few times at various prices but can't understand why it has been valued at a high multiple to it's BTC value. I have tried to compare three companies in this field who have adopted same strategy for buying BTCs.

Co. Name No. of BTCs Cost per BTC Total Cost Value of BTC holdings Market Cap.

MSTR (US) 628,791 $ 73,277 $ 46.07B $ 71.6B $ 110.5 BILLION

SMLR (US) 4846 $ 93,900 $ 455 M $ 552 M $ 476 M

(SEMLER SCIENTIFIC.COM)

SWC (UK) 2050 $ 108,556 (£81346) £ 166 M £ 176 M 565 M

All the prices were correct on Friday close of business. Now up to you guys to work out which company is better value.

I have been a holder of YCA for a few months. I also bought some shares of KAP today which has a

dividend yield of 8%.

I had share holding in YCA. Today I bought into KAP which also has dividend yield of 8% whereas

YCA doesn't pay any.

The year end net debt was $ 1,693 million and interest payment of $ 123 million. They are taking

new debt of $ 700 million. I wonder what the interstate's payment will be this year?