Member Info for fleccy

I need to correct my last statement, it was €752,000 at the end of the last period, I typo'd when I said €763,000. The final figure of €875,000 burned through during the period, is however correct.

"any company waiting to produce a revenue have to put that disclaimer which is a lot of companies, we are close to commercial revenue and we have only just raised a £1m a couple of months back, we don’t need to by expensive computer as we already have them, but here you are trying to paint your picture as always"

It was their words not mine and it wasn't a disclaimer, it was in their Going Concern subsection of their Notes to the Financial statements section.

According to their Interim results, they had €463,000 at the start of the period, they then received €1,164,000 from the capital issue and had €763,000 at the end of the period, so in total they've burned through €875,000 since the start of the period; I suspect they'll need to raise more cash.

"Don't think there will be another raise..according to the last placement rns the proceeds will be used for product release. Once the product is released no need for a raise ? as we will be generating revenue"

There will be another raise, they said as much in their Interim report:

"The Group’s operational existence is still dependent on the ability to raise further funding either through an equity placing on AIM, or through other external sources, to support the on-going working capital requirements"

https://www.lse.co.uk/rns/QBT/interim-results-jw410f3b76ftdqr.html

By a massive 0.01%, and in reality they're still at the same level as of the 13th September 2023. I wouldn't read anything into the change, insignificant by any measure.

https://www.shorttracker.co.uk/company/GB0030913577/

The most important part of that video is the disclaimer at the end of it. How come the Narrator didn't read out the disclaimer?

"Just to be clear, are you saying they are altering the algorithm that is hard coded on the ASIC?"

I'd be interested to know exactly how QBT's Method B works? I haven't read through the PRN's recently, but from what they've said am I right in thinking they install software on each rig, and the rig's then talk to a QBT server that processes the data before returning a target range of relevant Nonce's, to the relevant rigs? If this is the method used, QBT's server would have to continually process data from many individual rigs, each running at over 100 TeraHashes per second and requiring an extremely fast server to deal with the vast amounts of data involved.

Or will they install a server at the mining farm/pool and pre-process the block to reduce the Nonce range before allocating work to the individual rigs? If this is the chosen method why do they need to make any changes to individual rigs, since the farm will already have servers distributing work to the pool?

Admittedly I have no idea how mining farms and pools distribute the workload around the individual rigs, but adding another layer of software is a bit more complex than plug and play. I'd be interested to know if anyone can advise on how this works in a commercial setting?

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I do believe the deficit will be significantly reduced, I'm not confident the scheme will be in surplus I think we'll just have to wait and see. I totally agree that the Pension deficit has been used as a weapon to bash BT, and a change of narrative must feed through to raising the share price.

"There is also the unfortunate but significant effect of a reversal of the recent longevity increases, for the first time in decades lifespans have shortened."

BTPS have recently hedged against any changes in life expectancy, so going forward any changes in life expectancy should have little effect on the liability side of the calculation.

"The BT Pension Scheme (BTPS) has agreed a £5bn longevity swap with Reinsurance Group of America (RGA), protecting the scheme from the cost of unexpected increases in the life expectancy of its members"

"The transaction is not expected to have any impact on BT’s cash contributions to the scheme, nor on the 2023 triennial valuation."

https://www.pensionsage.com/pa/BT-pension-scheme-agrees-5-bn-longevity-swap-with-reinsurance-group.php

We'll have to await the Triennial Review Report for the true picture, but these actuarial reviews seem more like Dark Arts than a solid accounting formula; For example as of March 2021 the IAS 19 deficit was calculated as £5.1bn, but the actuarial deficit came in at £7.98bn, a difference of £2.88bn.

"The IAS 19 deficit has increased from £1.1bn at 31 March 2020 to £5.1bn at 31 March 2021. Net of deferred tax, the

deficit has increased from £1.0bn to £4.2bn.

The increase in the gross deficit of £4.0bn since 31 March 2020 mainly reflects a fall in the real discount rate, partly

offset by £1bn of deficit contributions paid over the period, lower assumed future life expectancies and positive asset

returns.

BT and the Trustee of the BT Pension Scheme (BTPS) have reached agreement on the 2020 triennial funding

valuation and recovery plan. The funding deficit at 30 June 2020 is £7.98bn"

Hopefully the rises in interest rates will feed through dramatically as a reduction in both the IAS 19 and actuarial deficits, but much will depend on the reduction in asset values along with the fall in liabilities.

Fingers crossed Casapinos. Much will depend on the way the actuaries value the liabilities against the assets, it's possible the the IAS19 valuation is in surplus, but the actuarial valuation still in deficit. The differences can be in the Billions unfortunately.

"Quantum Blockchain Technologies shares fell on Tuesday after the group reported its interim results, with a narrowed pretax loss for the first half, and said there are no updates on the legal actions taken in Italian courts.

Shares at 0816 GMT were down 0.13 pence, or 12%, at 0.9 pence.

The company said it continues to seek to recover damages and legal expenses in pending court actions in Italy, which relate to its subsidiary Clear Leisure.

The company also reported a pretax loss for the first half of the year of 1.5 million pounds ($1.8 million) compared with a loss of GBP2.9 million. The narrowed loss was driven by lower expenses."

https://www.marketwatch.com/story/quantum-blockchain-shares-slip-after-1h-report-no-news-on-court-actions-620d6b6d

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"TalkTalk boss Tristia Harrison steps down amid break-up of telecoms company"

https://www.msn.com/en-gb/money/companies/talktalk-boss-tristia-harrison-steps-down-amid-break-up-of-telecoms-company/ar-AA1hhZEJ

Jambone are you saying that TOTHEMOONBITCOIN is a pseudo id and his opinion should be disregarded?

What he says makes perfect sense. As of yesterday, QBT's September monthly trades total was 550, that's ridiculously low and also explains the 10% spread, since there's low demand for the stock. The spread is dependent on supply and demand, the higher the demand and the tighter the supply the lower the spread. Volatility is almost non existent with this stock, traders wouldn't be interested due to the risk of being locked in and taking a minimum 10% loss if the stock goes the wrong way.

Https://secretldn.com/underground-tunnels-tourist-attraction/

I wonder how much BT are getting for selling these tunnels? Articles indicate how much will be invested for renovation, but no mention of the purchase price.

I see the GIF's have gone, which I thought were funny and a good metaphor for the risky investments touted by some on here. The first GIF was a roulette wheel, where I suggested investing in QBT is akin to a bet on Red or Black. The second GIF was a drunk skating on thin Ice, which is a metaphor for one person, or some people on here, who must have bet over £100,000 on QBT being successful, if they're being honest about their holdings; And the third GIF was someone skating on thin ice and tripping head first through a hole in the ice, which is a metaphor for what could happen.

QBT may be successful and make millions for some on here, assuming they're being honest about their investments, alternatively it could wipe out £100k plus of their cash and leave them with nothing. I have no idea if QBT will be successful, but I'd suggest anyone considering investing a large sum of cash should do the research and weigh up the risks.

I watched the Mogg video, in my opinion as a long time Conservative voter, he was talking tripe and his own book. Of course he wants inheritance tax gone, since he's worth well over £100 million. Instead of scrapping inheritance tax completely, they should increase the threshold to £1 million per person, so £2 Million for a married couple; Anything above that should be exempt from tax only if invested in selective UK companies, or infrastructure projects. I've got nothing against people growing their wealth and leaving it to their kids, but much of that wealth should either be taxed or pushed into investing into the country they call home. If I inherited £1 Billion, Id' rather invest it than pay tax.

"Altnets want BT to use their networks as Openreach plans to be everywhere"

https://www.lightreading.com/broadband/altnets-want-bt-to-use-their-networks-as-openreach-plans-to-be-everywhere

Or putting it another way, here's a snippet from a recent CityFibre BOD brainstorming session:

https://www.youtube.com/watch?v=E-PIidaqCyU

You're correct Richie, the examiner has now looked at this twice and on both occasions has classified it as software. I think we can say with some certainty that this isn't patentable.

"It's all targets and futures with you Joe. How about dealing with the reality on the ground? BT has lost another 1.6% of its value this morning alone. I with you luck with your strategy but it hasn't worked for 5 years and now you predict it will be working in another 5 years."

Actually Mandy it is working, we've doubled our dividends through reinvestment and increased our quantity of shares massively. As far as BT going down currently, I welcome it since we haven't reinvested our dividends yet and still have the £20,000 allowance in one of our ISA's. Mandy I know what I'm doing works, you can do as you please.