Member Info for Bitbuybit

From Trebuchet kid -

Completion of the equity raise only occurs once the shares have been admitted to AIM. The shares for the recent equity raise were admitted on the 27th September 2018, as announced on the 24th September 2018. This gives FLFL until the 27th March 2019 to complete the second investment.

Now - can we all relax? By the end of March this Byriani (sic) chap will own between 28.89 and 29.99% of the company enlarged share capital - depending on whether he takes 63,300,000 or up to 69,850,000 shares. And one of his daughters is now on the board.

The funding is all coming together......

Matt

I have just tried a couple of dummy sells and am getting quoted 7.155p a share for 244,000 of them. On numerous occasions I have tried and never been offered on that volume. Not interested in selling as we only have a few weeks to go.

I’m hopeful this current price will prove to be the bottom and a springboard upwards.

GLAH

Come on, you’ve got this far - only a few weeks until news surely?

Pascha/Olliebee,

Thanks for sharing your views so succinctly - a pleasure to read and as a holder I’m happy to read both the bull and bear case scenario as it were. Just a great read.

Cheers to you both

Hi Chinner,

Appreciate the heads up but what made you change your previously bullish view?
I do appreciate the gap in news but Koovs have made clear that there will be nothing released until the next trading statement. Due end of March? (I think) - But as you have previously said funding has been secured so in 2019 this should fly?

Cheers,

Matt

Jambon,

I take back my rude remark but PLEASE look for the positive in what people are trying to contribute

(Poor pop music jokes aside...)

GLAH,

Matt

For balance, you are suggesting that we look at the official Koovs website for a quarterly update when maybe (just maybe) we could gather some info sooner if we look at morningstar.com for a possible update at the start of each month?

No it isn't you wormy little man - it says look at the site for a possible update. It was useful info and somewhere for people to look.

Come on Joe..... Naive was a top tune by the Kooks!! It was a joke - but yes of course it was a typo....

Cheers

Honestly Joe, you are so naive.......

Jambon,

I said I can find no evidence of short selling. Which means you are now so blind you can't even read a sensible post. I did not say there is NO short selling of kooks merely that I can find no evidence.

And don't dare try and patronise me with this 'another poster' bull - stop picking holes and find out something useful.

Matt

Apologies, you can see ruffer have reduced and some other funds have sold out - unfortunately I can’t see how long ago and at what price. Still worth a peek at this site tho.

GLAH

Just had a meeting in Leeds so have a few minutes to type:

1) I have had a look on www.shorttracker and can find no evidence of short selling of koovs - didn’t expect to but I had a look.
2) Please take a look at www.morningstar.com - type in koovs as the equity (obvs) and then click on ownership. It lets you know which funds are currently invested in koovs and whether or not they are increasing or decreasing their holdings. Ruffer are listed with a few different pots and you can clearly see a couple of their funds have fully exited koovs. Details are up to end of January so it may we’ll be updated tomorrow where we will all be able to see (hopefully) their current position. If they are fully out, selling pressure should be gone and some gentle buying may well have this moving northwards.

Just my thoughts and love to all,

Matt

Hands up, who had “7 minutes”....... :-)

Looking forward to a sensible or very very quiet bb today.....

Hi Pascha,

I have to say an estimate of 10 million in the bank is pretty much what I would have gone for. From what I have seen/been privy to, I am content that FLF will take up those additional shares and Koovs will therefore have further cash (hopefully enough) to see them through to profitability. Don’t forget the logistics are all in place, it is the scale up that we are searching for and the improvement in margins that I eventually hope to see.

Your cash burn estimate again is probably around my ballpark estimate but mine is a bit of a guess really.

I believe the future is bright - it has taken a lot longer to get out of the starting blocks bit I believe news flow will improve now a member of the family is on board!

Best,

Matt

Hi Pascha,

I agreed with what you stated Re: HT media deal in the first instance because that was factually correct. I do disagree though with your random statements regarding the rate of cash burn - and what is starting to look like a fairly unbalanced view. (Not a criticism at all - I like bearish and bullish views as long as they are backed up factually or with a caveat).

There are several variables at play here as you well know.......but most of the Koovs cash burn in its development has been due to the aforementioned cost of advertising and promoting/raising its awareness as a company.

I believe it was posted recently that awareness was at an all-time high - not too bad considering the enforced reduction in marketing spend while Koovs was looking for additional investment (subsequently found by an equity raise, HT media deal and FLF investment in one but soon to be TWO tranches (whether you believe it or not). See the Hardman Report.

The point i'm trying to make is that whilst I agree that Spencers suggestion of 50 million in the bank is miles off (sorry Spencer), the fact that the HT Media exists effectively saves the company £4.28 million a year in running costs - it is being paid for with the release of additional shares - BUT NOT YET.

Do you agree that this is the case?

I did put a very thorough analysis of the funding arrangements on here a few months ago but it may or may not have been one of those deleted.

The current facts are:

1) No one knows the current rate of cash burn
2) No one knows how much actual cash is in the bank
3) Cash injection of between 9.5/10.5 million will arrive when the additional shares that take FLF to a 29.9% stake are admitted to the market and not before then.

And I wouldn't hand over cash my until I got my shares - Would you?

PS YES WE STILL WANT SALES............. :-)

Cheers,

Matt

My understanding is and always was that annually (it’s a 4 year media deal) - koovs effectively pay for 6 million worth of advertising with 1.72 million in cash and the rest in new shares.

If this is what Pascha is saying then it is factually correct as far as I can see and I have no issue. I am however very interested if others have interpreted this differently.

It is a 4 year deal so dilution doesn’t worry me neither does the cash needed.

Cheers

9.6 million......wow!!!!

Chefmassive,

Got to say I agree with you - I think when news flow begins it will surprise a lot of people and I for one can’t wait. Wish I could switch off and return in the summer!

Cheers