Member Info for BusterScrugs

Well it doesn’t see to be doing much website building that’s for sure Robert. Seems odd to keep £4m on the books… I suspect that’s there more for working capital than anything else.

Re the RNS.

BTC hasn’t been sub 112k since the 10th June… on the basis their last acquisition was on the 11th June at what I can only assume is an average price of 108k can someone explain how they’ve managed to do accumulate 325 at an average of 112?

I get why SWC are doing them but they must be frustrating for existing shareholders short-term. Bit of a momentum killer really - same happened with MSTR.

Sure SWC needs the cash for more btc acquisitions and while the SP reversal is to be expected it’s still dampening the hype that this stock needs. They can’t afford to stand still - I expect another 21 tranch to be announced and further dilutions along with a tapering SP towards NAV.

Still learning on the job I see PP1… keep on swimming fella.

… apart from gravity.

Spoken like a true bulletin-board hero who’s made a few quid on a stock by accident and now thinks they’re warren buffet. Stop making assumptions and twisting people’s comments. Some people on here hold a different opinion to me and that’s fine - it’s a forum. They have a somewhat logical argument which although I don’t agree with it I can understand the sentiment on. You come accept as a hanger-on sheep that’s trying to sound relevant so not sure why you take everything so personally. It’s not an attack on you or your position so drow up and stop embarrassing yourself

So, after all that what we end up with is a company which is valued at (or at a small premium / discount) to NAV. The 10-20x premium was always absolute tosh and while it’s been entertaining hearing people try and justify it hopefully future investors will be less about the hype and more about the reality.

On the subject of reality the underlying business (like most of these micro-cap bitcoin plays) is irrelevant. which is just as well as its pretty much worthless. Once a NAV reality is achieved the SP appreciation will not just be linked to the performance of bitcoin but the fiscal drag of the business itself which is basically just obfuscated overhead. It makes no money so as well as buying bitcoin it’s taking a slice of the raise for operating expenses. This remains a too much of a risk factor for me and the moment a UK etf is available I’ll be in. I have every respect for a blended acquisition strategy but despite its market cap this company is still very vulnerable.

It’s not in the data or the tea leaves mate. It’s a Friday bull-trap. Proceed with caution.

From the look of it Nigel they mostly just buy bitcoin. The website thing is more of a side-hustle. So much so I wonder what percentage of the capital raises has been earmarked for director salaries and operating expenses?

The big money has seen the value of its investment half and then half again. NAV will become a more relevant metric now.

@Trotsky - very eloquently put. I think genuine concern is being misinterpreted as sour grapes on this stock and it strikes me that if it walks like a duck, sounds like a duck and looks like a duck then there’s a good chance it’s a duck. On the subject of looks while I’m not normally one for Chartism as I but I couldn’t help notice the 30 day is resembling the caped crusader… can all investors please don their life jackets and assume the brace position.

I tied to say this earlier. It’s not the shorts, it’s profit / loss taking. The rush was good while it lasted but you can not throw a stick in the UK micro cap market now without hitting some kind of crypto play, and that’s after just a couple of weeks. Wait till the ETF big boys turn up and provide a secure physical etp tracker the underlying at NAV and see what happens to this lot. It’ll be murder on the dancefloor.

Upsidedownman. I’m referring to the fact that to date only micro company accounts have been published. Have you looked at these? If so you’ll notice the turnover is nominal. FTSE listings come with the publication of FULL accounts and auditing. Both are expensive to produce and open to scrutiny. I’m not implying any malpractice or dodgy accounting, more that this will draw the curtain on what is quite a small business under the bonnet.

Price movement is profit taking if you ask me, not shorting.

As for FTSE inclusion I don’t this this would be in the company interests as the qualifying criteria is more than just market cap, it’s accounting transparency.

A TR1 is mandatory for a PMDR irrespective of the size of the trade.

“In all respects including the right to receive DIVIDENDS”

OMG someone make it stop. Dividends from what? Not from income as there isn’t any!

I can’t tell if you’re rage-baiting or just a bid mad PP1.

You mention fundamentals but on what planet to SWC’s fundamentals make sense? 20x NAV, no income (other than selling treasury stock) and a rapidly diluting market.

It’s market cap has been driven by a pump and a squeeze. Inventory is irrelevant, as is the BTC price. It’s a sentiment play and the moment this goes out of fashion it’s going to retrace towards NAV…. Which is about 60p.

Some Ticktok maths and economics on display here.

There will be a lot of investors that need bitcoin to go up to $500,000 to break even on this now

Despite being a bit of a doom longer on the stock I’m generally sorry to this.

It will be interesting to see if the OTC listing lends any support to it or if it just hits it harder and the short sellers exacerbate things.