Member Info for bergo

Here we go - Cavendish value the current us side of the business at £48m! 50% higher than the current market cap, plus we get any left over cash and the “significant distributions stated by management after the result of this sale” plus continued upside driven from broader US sector growth over the next 5-10 years…

“ North America Sports

Estimated by Cavendish to be worth an estimated £48m, the company established a North America Sports market presence three years ago and since then they have focused mainly towards this market, as opposed to a Europe Gaming-led concern. Around 65% of the company’s revenue came from North America Sports in 2022.”

Those numbers approx. make sense to me for total biz ($63m US and $34m Europe, CA, etc). But that doesn't account for market growth in US. It's bonkers relative to UK/Eur. US growing 20% CAGR recently plus 10% next 5 years, UK /EUR flat to 2%

To XLM, 60-65% of their business and increasing...

Not Mexico sorry Brazil

@davey if you had any clue about this business and long term holders you wouldn’t sprout this rubbish. Obviously you’re annoyed you weren’t in enough or sold out at the bottom. At the end of the day, I’ve been saying and many others here that Xlm has been truly undervalued. Yes its price action has been poor as it probably needed a little more cash, it was going through a transformatice turnaround which takes time to focus on US and big restructure. Anyone saying the sale of the European business was not right for shareholders is a debate. I think it was spot on. Knowing the industry very well? Europe is mature, highly competitive and in soon regions declining. US is where the play is over the next 5-10 years alongside Mexico and Africa so this RNS imo is transformative and will be to price action over the medium term.

As I mentioned previously Xlm is so undervalued. The sale of the non core slower moving assets for $35m implies with quite some confidence the us business, which is generating more revenue, and has a much higher growth trajectory could be valued north of $40/50m, so this underpins my confidence that this share is going to 17p and potentially 25p sometime soon!! DYOR obviously nfa

Did he just say in a long-winded way say they have sufficient cash to get them to positive operating cash flow in 2025? nb. as a result of some fundamental changes to wc mgmt, etc. Surely this is basic stuff so why wasn't it done before?

Are you sure there will a separate FY update?

anyone have the CMD presentation?

Revenue miss yes, but that looks like it was a conscious decision to focus on higher margin product. Great result imo - focus is power and we see that in the solid EBITDA outcome...

There isn't a lot of free float remaining, and given the lock-in for 12months any purchases with what's left could move the price fast, even small ones. Any news would be a major catalyst here too!

What’s the best source to monitor pls?

Big 100k buys coming through regularly. Definitely a buyer in the background. Not surprising, given has cash generative this business is, and how fast is can grow, and it's valuation, etc. Just need to be comfortable with the broader risk.

I keep reading the interim and REVB generated £4m in positive CF in Sept / Oct + 11 days of November. That's incredible especially now we're going into peak season. Coupled with any inflow from the ongoing negotiations, I wonder whether the board were being super conservative regarding the financing statement. A question in my mind relates to the Medichem negotiations - given this relates to ousted members, I wonder if they will demand faster payment?

Absolutely lovely! Upgrade and reduced debt higher cash. Happy!

What are the potential areas this could fall over?

They stated Q1-24 EBITDA should be +£3.4m, which is a net +£11m EBITDA swing from Q1-23. Momentum was said to continue, so can only imagine at least a positive EBITDA number around this. Cash generated from operations would have been significant last year but was held back due to £5m+ in legal fees, etc, so I would expect a positive operating cash flow number. They do have c£20m debt to pay off their medichem acquisition, but this has been delayed to 2025, so plenty of headroom there! I'm sure there is something, as this co always surprises, but maybe not?! Thoughts?

Is the IPO still targted for Nov-23? Bit lost or have I missed a comms?

RNS today showed Cinch has taken a 5%+ holding. Interesting!!

Potentially planning to put in a bid. Would make sense in some ways. Great footprint to showcase cars. Thoughts?

Have I missed an announcement?

Re: my post earlier, hands up (sheepishly) I should probably remove that! After reading some of the steam reviews as shared by AAAA1111 it does paint a completely different picture. I was more looking at the pre-demo reviews back in June 2023, and come to think of it they were probably paid for! PS. Genuinely not a deliberate ramp!

Forgetting price action and focusing on the product, I spent hours reading through countless reviews of the new game : Realms of Ruin. All I can say is, knowing how important reviews are when purchasing a game, these reviews are all extremely glowing about the upcoming release. I think this game could smash some people's expectations, especially with how bearish everyone is right now on FDEV