Member Info for dweill

Here is a comparison of Centralnic with TLDH made just on publicly available information released yesterday for TLDH and the AIM admission document for Centralnic. My own personal conclusion is that Centralnic is a very secondary play on new generic top level domains at best. TLDH is a far more direct play on gTLD's and I think TLDH will way outperform Centralnic in 2014 with the launch of gTLD's. I am an investor in TLDH and please do your own research. I have no position in Centralnic and do not go short AIM shares even though I believe long TLDH short CNIC would be a great pairs trade. My opinions are completely my own. Generic Top Level Domains Owned Centralnic do not own any gTLD’s but say that they may provide finance to selected client applications in future. TLDH has an actual ownership in 25 uncontested gTLD’s and applications for 48 more. TLDH is the 4th largest applicant in the world after Donuts, Google, and Amazon. Second Level Domains Owned Centralnic have 24 second level domains. TLDH does not have any second level domains. Client business Centralnic have 60 gTLD clients for wholesale registry services with 25 uncontested applications and they expect another six of contested gTLD’s to convert. TLDH have geo deals with London, Miami, Bavaria, Budapest and NRW. TLDH also has impact clients like the US Republican party, Tucows, and Bradesco. Single domain names owned Centralnic have 100 single domain names. TLDH is not a player in single domain names Revenue and profit currently Centralnic reported £2.9 mm in revenues and net profit of £0.593 mm in 2012 growing approximately 20% on headline figure and 45% on bottom line. They state that 2013 is ahead of internal budgets but these are not disclosed. TLDH reported an operating loss of £1.9mm. TLDH expects some revenue in 4th quarter but anticipates ramp up in 2014 with launch of gTLD’s. Financial projections Centralnic expects continued and improved growth but no forecasts are online . TLDH does not have forecasts online that I can find. Funding Centralnic raised £5mm which was £4.4mm net of fees. TLDH has £7.4 mm in cash and facility of up to $15 mm for one gTLD. TLDH also has application fees and LOC’s for an additional £10.4 mm if applications are withdrawn. Basic business model Centralnic provides wholesale registry services. TLDH owns gTLD’s with some impact client business. Market Capitalisation Centralnic is trading at ~£50 mm. TLDH is trading at about ~£30mm. I think that this factual comparison makes the relative valuation conclusion quite clear in favour of TLDH.