Member Info for Dibs61

jolly yes management structure far too top heavy now. You have the new chairman Read. Then there is the new guy Russ Abbott - managing director. And then there is Blamire - CEO. Why would you require two head honchos for a tiny company with a headcount 25 max - maybe less. Some people may also be unaware that a chap (can't remember his name) got promoted to COO last year! So they've already got someone who heads up cyber operations. I thought the idea of that internal move was to free up Blamire (with his £2m sales and marketing warchest) to go out and conquer the world. But of course there never was £2m to spend on sales and marketing because they omitted to use the words 'working capital' in the that particular RNS. I hope you're reading these posts Tom Winnifrith. We're not all morons on here you know ;)

http://www.eurogamer.net/articles/2016-05-06-west-ham-becomes-first-premiership-club-to-sign-its-own-esports-star Professional football clubs beginning to sign up esports gamesters. This thing is really beginning to take off.

Quite true and some astute purchases I feel.

Have you sold out?

SP Getting to a rather attractive level again. May top up on Monday

Yes their credit rating must've been poor which is a shame. They are trying to develop and build a long term mining operation on their own which, for a small company is a big burden. The discounted SP is reflecting the inherent risk imv

To get my head around Shantas increasingly complicated debt structure. The loan note deal is a very very poor one for the company - 8.5% to 13.5%. Presumably the note holders were able to push this through on the basis of Shantas updated credit rating. The debt continues to be a real drag. Revenues will not be significantly higher this year due to forward selling 75% of annual production at much lower Pog. That said the one off charge will drop out so they should move back into profit this year. Speaking of forward selling now we know why there's been so much selling over the past few weeks. It just didn't smell right. I got this one right but bloomered on FLX though my holding here was quite a bit larger. Haven't bothered to figure out the silver deal yet.... Nearly 25% dilution today. As I said before def no need to chase this. I think it may not be until next year that we see the possibility of the shares being rerated. Longer term provided they can maintain good operational performance I agree this will do well. Gold price will NOT help this year.

Yes indeed. Going to Darwin is like last chance saloon. Correct me if I'm wrong but they're redeemable by November @ 10p. No way are they going to redeem which unless the sp is much higher. In my opinion it won't be. Which means Falanx have to repay the loan. No way are they going to be able to afford that. Which means a further restructuring - next time which will be even more onerous on FLX. Darwin has them by the balls. Just IMO.

Good observation re BOD participation. However, there are two ways they could easily get around this: 1. Provide an Open Offer to shareholders subsequent to the placing in which they would've been free to participate since price sensitive information now disclosed OR 2. They can now go ahead and buy shares on the open market. I suggest, don't hold your breath.

The acquisition was, if you like, seen as 'cover' for the fund raising. The absolute need for cash. Now. The £1m, well actually it's not £1m because that is gross. I can't see where they've confirmed what the net number is. The placing is confirmation that cash burn still continues apace. It's not difficult to do the figures. So this was a keep the lights on jobby as riddler suggested. No doubt we will see a rise in revenues in the next set of figures, not hard to beat £26k is it surely? But will they have held their operating and admin expenses down of will they also continue to rise?

NO BOD participation at all in the placing apart from the free shares given to the founder of the acquired company - that doesn't count. So Blamire has happily allowed his 'skin in the game' to reduce from a good 20% to around 8% in the past couple of years. And I suspect the shares he possesses are the ones he received at ipo as a founder. The new guy Read hasn't bought a single share. Draw your own conclusions but it strikes me as a vote of no confidence in themselves and their company.

Almost a year to the day Falanx issued a fundraising announcement. Quote: - £2.14 million for the continued sales and marketing development of Falanx's cloud-based cyber security managed services I'll just repeat that number - £2.14 million. Towards 'sales and marketing'. That is a huge sum of money for a tiny company to invest on sales and marketing. Where is the ROI? Where has all that money gone? TW would usually say it's gone to 'money heaven' - not this time though lol. Hmmmm. Well we know they ended up with five small government contracts which they clearly undercut their competitors so these are loss leaders effectively. In the hope that business will follow. But business hasn't followed....! More to come.

Wasn't around much yesterday. At the hospital getting treatment for my colitis. BUT: jolly - yes I sold out in full at first bell yesterday morning - took a loss but sometimes you have to do that. riddler - yes too hasty. It was a mistake. I'd actually called this absolutely spot on in my analysis of the results last November. I said after I sold out then that they'd run out of cash between March and May and they'd do a placing at around 4p. I should've stuck to my guns but admit I was a but swayed by TW's 'chat' with JB. Mistake. I now wonder what else was discussed in that phone call given share prophets participated in the placing to the tune of £20k. I have plenty more to say here but I'll leave it for a bit later.

No it's not the same company. They are separate companies. However they have a close partnership whereby FLX are licensed to use Assuria software products as part of their offering.

http://www.techuk.org/insights/news/item/8379-uk-s-most-innovative-small-cyber-security-company-shortlist Assuria in last four short list for UK most innovative small cyber security company.

Sell just 30,000 shares and you can get the SP down 10%! And in four 7,500 tranches each individually ticking the share price down. That stinks.

Yes agreed. They put all their eggs in the Chinese basket. They were literally telling investors 'come and buy the shares because the Chinese will be all over this' and we all know how much the Chinese love Gold. That said, if you look at the SP over the past year, the market didn't buy the story even if we did. In the meantime I sincerely hope it works out for you and other LTH's and I'll be back in if more promising developments take place.

Mmmm Yes but there is market uncertainty over the debt situation and this imv discounts the SP somewhat. In addition you have to value a stock like this on EV rather than simple MC. As I said before yes a good long term investment but because they have already forward sold 75% of this years production (I've previously extracted the figures from RNS announcements) there isn't much to be chased here currently on any gold price rally. Plus there seems to be a persistent seller. So for these reasons I'm out for now.

Coming up with your own DFS valuation and not having it independently verified is like me trying to sell my house to you (after paying a fortune to an estate agent to value it) and then ignoring the estate agents advice and telling you what I think the valuation is. Would you buy it?

Keeping a very close eye here. Going to add on any further weakness. V Good opportunity.