Member Info for Baznick

I had voted yes to all resolutions as what alternatives did we have. Since David has come on the scene with his sizeable presence and increased share holding to maintain his 10%, l’m now inclined to give him the benefit of any doubts I have as many of is observations aligned with my own thinking so I have now revisited my votes and changed them to votes against the 4 resolutions.

I do this hesitantly as we do not know what plan he has to put forward.

But I am very unhappy with the dilution, and do this hoping he has all shareholders interests at heart.

GLA

I’m thinking with a moderate P/S on 10m sales giving us 30 m m/cap currently 2.4m therefore 12.5 x current.

Newbie. Yes but during that time there has been a lot of approvals needed and we’re getting near that point now.

Newbie my take on this is if our sales reach 10 million per year, which I’m hoping could be within a year what would the midcap be then.

Massive potential here if we can achieve break even.

Sparky, thanks for the reply. I hope you’re not being ironic.

I managed to purchase 1,500,000 with the offer , but at 1p my holding only returns 25% of my stake, so hoping at least 4p sometime in the future.

Hopefully if it gets to 4p there’s only one direction after that. 🤞

Just wondering if it came off and you had any good news to share.

Ant77, me too 2021. I'm still optimistic but a little bit frustrated at the timeframe for a realistic valuation of the midcap. I know someone else whose optimistic, billy.

So double the demand offered

Total demand received through the Retail Offer was approximately £0.68 million which exceeded the total amount available to be allocated under the Retail Offer which was capped at approximately £0.33 million. This cap includes the 10 per cent. scale up mechanism which given the level of retail shareholder demand has been exercised. Accordingly, a total of 164,875,000 Retail Offer Shares are therefore expected to be issued pursuant to the Retail Offer including 38,750,000 Retail Offer Shares subscribed for by three Directors of the Company as detailed in the Completion of Placing announcement which was issued by the Company on 24 September 2025.

General question about Shayne Tan’s holdings.

I know he started with 2,000,000 shares but now stands at 5,000,000. Was this via a share reward scheme or purchases?

Disappointed with the situation we find ourselves in due to previous auditors.

Just to put a figure on it I’ve set myself a date of end of September for release of audit but any good news via RNS would be welcome while we’re waiting.

Rud20. I never received any correspondence either.

See my post below.

Today 16:45

Kingsteve, not sure who you invest through but I ended up having to phone H&L for advice, even then spoke to 3 different people, eventually someone phoned me back and here goes the explanation.

Log in

Then my accounts and dealings

Then halfway down right hand side View shareholder meetings

Then https://ibb.co/TMZvt47R

Hope this helps.

Also cut off date 10th

Kingsteve, not sure who you invest through but I ended up having to phone H&L for advice, even then spoke to 3 different people, eventually someone phoned me back and here goes the explanation.

Log in

Then my accounts and dealings

Then halfway down right hand side View shareholder meetings

Then https://ibb.co/TMZvt47R

Hope this helps.

Amers, question, should the current situation change in our favour, one item I would like answered is supply and demand production.

What is the timeframe to ramp up should the need arise and what that would mean in monetary terms.

Amers, enlightened by your response to the board. Don’t think you could have explained it any better or been more generous with your words. Thank you.

I will be voting yes

Sparky. Could be a reason, time will tell.

I’m hoping the reason they’ve not purchased as of yet is more to timing the market right.

I’m not invested in any treasury companies but have been keeping an eye on COIN.PL, SWC.PL and VULT.PL and none have done well since sp wise since we advised we were doing a raise for it.

* Lack of clear standards and expertise: The absence of well-established accounting and auditing guidance for cryptocurrencies, coupled with a lack of in-house expertise, makes it challenging for auditors to provide a robust and confident assessment.

* Public misunderstanding: Auditors have expressed concern that the public often misinterprets their limited-scope reports (like proof-of-reserves) as a full, clean bill of health for a company.

In short, the rise of companies holding Bitcoin on their treasury is a significant trend, but it's occurring in an environment where auditors are still grappling with the unique risks, complexities, and regulatory challenges of the crypto world. This has led to a cautious and, at times, a hands-off approach from many traditional auditing firms.

The user is asking about the connection between corporate use of Bitcoin as a treasury asset and auditors resigning. Here's a summary of the situation based on the provided search results:

Bitcoin Treasury and Corporate Adoption

* A growing number of publicly traded and private companies are holding Bitcoin on their balance sheets, treating it as a primary corporate asset rather than a speculative investment. These are often referred to as "Bitcoin treasury companies."

* This trend is driven by factors like:

* New accounting rules: The FASB fair value accounting rule (effective after December 15, 2024) allows companies to mark Bitcoin's value up and down, which eliminates previous financial reporting challenges.

* Diversification and inflation hedging: Companies are looking to Bitcoin to diversify their holdings and hedge against inflation and other economic uncertainties.

* Accessibility to liquidity: Bitcoin's borderless settlement layer provides a way for multinational companies to move value 24/7.

* The pioneering company in this space is MicroStrategy (now known as "Strategy"), which has a significant amount of Bitcoin on its balance sheet and has inspired other companies to adopt similar strategies.

Auditors and the Challenges with Crypto

* The relationship between auditors and crypto-related companies has been a source of difficulty and concern.

* Auditors have faced challenges auditing crypto companies due to the novel and complex nature of the industry, including:

* Lack of expertise: Many traditional accounting firms lack the necessary knowledge in areas like cryptography, distributed ledger technology, and valuation of digital assets.

* Reputational risk: Following the collapse of major crypto exchanges like FTX, auditing firms that had previously worked with them have faced significant reputational damage.

* Regulatory uncertainty: The evolving and often unclear regulatory landscape for cryptocurrencies makes it difficult for auditors to confidently assess and report on these assets.

* Limitations of "Proof-of-Reserves" reports: Some auditors, like Mazars, have paused all work for crypto clients, citing concerns about how their "proof-of-reserves" reports were understood by the public and the fact that these reports do not constitute a full audit or assurance opinion.

The Connection: Why Auditors May Resign

The combination of these factors has led to instances where auditors have resigned from or ceased work with crypto-related companies. While there isn't a single, specific instance of "the" Bitcoin auditor resigning, the search results highlight a broader trend where auditing firms have backed away from the crypto industry due to:

* Risk and liability: The high-profile collapses and legal issues in the crypto space have made auditors wary of the legal and reputational risks associated with auditing these companies.