The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
True!
It was the 2022 accounts that were approved in the AGM in January 2023. - No It wasn't its line item 2
https://www.valereum.gi/wp-content/uploads/2023/01/VLRM-RNS-220110-AGM-Results-5jwo.pdf
2. Approval of the accounts to 31st December 2021;
I agree David777 the news flow is not right. But if the politics or the government where not behind Richard I don't believe the Gib Chief Minister Fabio Picardo would of done the sky news interview with Richard. Also Fabio is on sabbatical from Hassans Law Firm ;-) - https://www.youtube.com/watch?v=xfcp_5zwCsE
He also did an interview - https://www.youtube.com/watch?v=PCNTA_KHTwE
Its not the use people are wanting but hey ho.
Sorry should of started that with .... can I interject and make a few suggestions.
Why doesn't the company have any significant assets? - Though not significant it does have assets on the balance sheet. It show 50% of the GSX purchase as complete and shows under investments. It was validation for me that all is happening.
When are the 2022 accounts being published, they were signed off at the AGM in January? - It was actually the 2021 accounts that where signed off in January 2023. Chances are the 2022 accounts will probably get published between now and June 2023. I THINK companies have up to six months to publish their accounts.
But I did have some further thoughts once I got hold of GSX Share Register and posted this in the Telegram recently. Willing to share if helps and apologies if offends people for being a positive write up.
The agreement to buy GSX has already happened. We have approval from GFSFC to move forward and complete the transaction. So based the on the balance sheet from 2021 VLRM have already paid for 50% of GSX which cost E2.8m. Made up off:-
£625,00 in cash (10%)
£2,187,500 using the money from the CLN (40%).
To complete the transaction and take the remaining 90% we need (or RP does) to find a further £2,187,500 which IMO means we are looking to pay for E5m for GSX. There are so many options on the table I think it is difficult for Richard to figure out how best to proceed.
Does he call in the remaining CLN?
Does he and can he raise enough to pay off the CLN and the outstanding balance to take us to 90%
This is happening in a difficult market HOWEVER the fun begins once GSX is done as it will now be a subsidiary of VLRM and the breakdown of GSX share allocation (according to share register) is as follows (I think)
28,113,240 - Total number of share in issue according to GSX
18,244,363 - VLRM Takes 90% of this
9,868,877 - RP Can give this away at a premium re-rating GSX MCAP? and VLRM at the same time because GSX will be part of the VLRM Group.
That 9,868,877 is 35% of the share capital remaining. Small enough to go unnoticed, big enough to do something with. Maybe! I could be wrong and normal rules apply DYOR but that 35% has to be something RP can sell to investors at premium one the direction of the company is locked in.
Again usual rules apply DYOR research, but when I came to that conclusion I began averaging down since October. AVG all years to TBF.
Okay, so you could argue that it is a single item backing the Dollar. But I would like to think items such as gold reserves, debt bonds, the constant printing of money, tax receipts etc. all equate to the American Economy, one physical asset. When the US economy is having an enjoyable time, the dollar is strong and when it is having a tough time the dollar becomes weak against other currencies.
However, to cash in BTC or any virtual asset, you may use a stable coin such as Tether or BUSD. Tether is very sheepish when it comes to announcing what and how much is backing their stable coin. Why, well for example, if there is $1billion worth of physical gold assets underpinning Tether and a Crypto whale cashes $1.01 billion worth of BTC, more than the gold that is us underpinning the stable coin, it would causes the stable coin to lose its peg because there is not enough gold to pay out/cover the exchange conversion from BTC - USD.
In the scenario above once unscrupulous characters know the value of the assets underpinning the stable coin it becomes easier to destabilise more than dollar which is backed by the US economy.
The economy of the Untied States of America
Sorry didn't mean to cause offense just figured you didn't know the difference between Assets and Virtual Assets and how it could be interpreted by the regulators on the balance sheet. I was suppose to include the link below, which is a good read BTW, basically you can't turn back a 1000 years of bartering and overturn 200 years of regulations for an asset that IMO can't be justified/propped up/underpinned without an underlying asset.
https://www.britannica.com/topic/money/Metallic-money
Why does VLRM need to keep Lenigas happy …. poor choice of words I guess but Patrick will be even happier now BTC isn't on the balance sheet as you can tell from the article he just done, see link below. Patrick BTW has since said he wrote a headline, "Crypto is Dead, Long Live Crypto" but somebody presumably a sub editor has written this headline instead.
https://www.cityam.com/bitcoin-heads-for-obituaries-cryptocurrencies-can-finally-mature/
Anyway take it easy
Well the users of the Blockchain can’t be audited/traced for money laundering purposes. GSX and the NTF market place will no doubt use an immutable blockchain where the blockchain transactions can be audited by VLRM or the regulator.
Regards BTC technically it’s Virtual has no value unless existing via a stable coin. You really need to read up on the concept of money and how a fiat coin is traded for goods and services.
Trade it for shares in Lenny company, keeps him happy, VLRM keeps foot in the game and I guess we write off the shares over time. Accounting trickery I guess.
Regards to Vinanz look harder! I won’t be posting anything here don’t want to cross ramp.
@MeanMrMustard68 - When it comes to the balance sheet putting a value on a virtual asset such as BTC is difficult at the best of times, especially when its volatile and not underpinned by any physical assets.
David L. has also said having BTC on the balance sheet confuses the GiB regulator, again IMO this is because BTC is an asset where the users can't be audited using KYC. In which case it does defeat the object of GSX and the NFT Market place being a fully regulated exchange. The risk is now on David L. going forward with his new venture he already said they had to persuade AQUSE but we are giving away £60k - £80k for very little risk, all being well we will get 27% of the revenue.
Still unsure check out a certain planet digital services who have been struggling to list because the board can't get value on the company due to the amount of Virtual Assets they hold and are now changing plans, sad part is there shareholders can't walk away!
IMO its a clever move on VLRM keep that balance sheet simple I say especially in the current climate of crypto/blockchain regulation.
Too much hang up on approval. NFT market space before then IMO and Patrick much be bullish otherwise he wouldn’t be tweeting about it.
I do find it funny though K3NTY you never mentioned this article. People need to install the Chrome Translator , but again Jason, K3NTY, KGR whatever please report a balanced view.
https://thegoodlife.thegoodhub.com/2022/07/28/gibraltar-le-rocher-de-la-blockchain-et-de-la-crypto/
Something brewing cause they intend to rebrand GSX as per the article.
Again K3NTY twisting what’s being said in the telegram group. Read the accounts soon realise how they can pay it off.
But you are starting to come across as a dumb f**k
And I'll probably say the same .. Copy and Paste
But why would you want to make a negative comment in the first place? Is the world not full of negativity as it is? Are we not allowed to support/defend our company that we have invested in? Do you not want VLRM to be a success and have a return on your investment?
But what the point in dragging the company down with negativity.
OTC - Okay they never given us an up, so what. USA regulatory is a mess!
GFSC - We are waiting on approval from them! Accelerated, well we all fell for it! But GSX has to work for GiB otherwise they won't have an exchange.
Juno - Yeah I would like to know what the crack is. But looking at the accounts IMO its bought and paid for and Carmel is still with us.
Ridercam AB - Lets really go for broke LMAO. I would really like to know what happened to this.
If your that concerned email VLRM and ask him, what the point in complaining on a bulletin board. LMAO
KGR - you’ve taken what being said in the telegram group and twisted it. We are seeing approval on GiB which has links to other countries other than America.
The NFT market space can be registered anywhere and if you did your research, like I do and present to the group which you read, you’ll notice NFT are being used in Dubai for gaming and trade, Switzerland for tech and finance, Singapore for Finance, and we Gib acting as a gateway into Europe.
There are better regulated markets, who have got their act, together other than America.
Seriously stop twisting everything!!!
Oh my days....booted out three times! certainly not the way is it.
Jesus Christ KGR still papping on about the OTC. Industry changed, the business model changed get on board will you.
Won’t be it was for the year end Dec 2021.
Your message from Tuesday 21st. Is it WISEKey by any chance, curious as to how you may off come across it?
Xxxxxcoin
trustecoin
XXxXxx
WISeKey
PY and DL are both quiet at the moment which suggests news is incoming. As PY would say "..he doesn't want to end up in an prison jumpsuit by giving away insider info".
A roundup:-
GATENet (A GSX group technology) are expecting news next week, should be interesting as we have the option to buy 20% of GSX Group.
We got access too Multi-Lateral Trading Facility ("MTF") licence european licenses that will be used to the max when we get our greedy hands around them.
Paid 2.9 million for 50% of the GSX exchange, waiting approval by the GFSC
The GSX exchange is expected to have £12m turnover from day one, before we start tokenising shares.
$5billion worth of debt derivatives that we can use for either a stable coin or insure against a fat wales crypto assets.
Carmen has been appointed as MD for JUNO.
Patrick been doing the rounds visiting various exchanges.
Personally I'm expecting an end of year finance statement
DYOR ??