Member Info for Globex

Agree CB, at first you think a case like this must be frivolous after all they are American, but looking at the way they've presented it and knowing what we know about some of the company's shenanigans when Wall was in charge, it actually seems quite reasonable.

I mean you see headings like: "The Exchange Act Defendants Knew Or Were Reckless In Not Knowing That Argo Had Far Too Little Cash On Hand To Operate Helios And To Withstand Foreseeable Risks", and think yes very true case closed 😁

Whether any of this counts as actual securities fraud is another thing, Argo side keeps extending so won't be until next year we get into the action, so luckily for them won't be anything meaningful to have to include in finals.

*easy part

Wonder what took them so long to get to the stage of this appointment, they've been talking about a sale/valuation for most of this year.

Happen to know that Benchmark don't take an upfront fee, instead their model is to take a % of final company sale value regardless of whether it sells via their marketing, so the initial sign up is the easy pat. Anyone who has sold a business will know it's a complicated process that never completes on a fast schedule, let alone one as nebulous as Satoshipay is, so if they are only just appointing Benchmark now this will take a while.

As much as it's been tempting to rebuy with market cap now scraping the floor, the good old 3 day rule hopefully saved a few. Perhaps we'll see a dead cat after tomorrow, but after that the brutal price action is quite revealing and more than anything else indicates diminishing chance of equity survival now.

Class action not going away https://storage.courtlistener.com/recap/gov.uscourts.nysd.604653/gov.uscourts.nysd.604653.45.0.pdf

Surprised btc didn't blink at blockbuster CPI reading, truly doing its own thing now, oh well at least US equities really livening up now

S q u i n t (filter is strangely strict)

curious how they discuss this predicament internally, like what does their medium term forecast or 3 year plan look like? because no matter how much you s*****, when you look at these obligations and timeframe it's hard to conclude anything apart from they are screwed.

Biggest chunk of it is bond maturing in November 2026, by that date they'll need to stump up about $40m. Remainder is mix of bank loans and obligations as part of Helios facility. Details on Helios deal have always been somewhat murky but original term was 2 years, so until December 2024, that financing largely secured against assets.

I think that's is a bit extreme, on the whole management have been exemplary and should get a lot of credit getting products to market that can genuinely contribute towards fight against cancer by aiding early diagnosis. And they're not resting on their laurels with a busy development pipeline. They are leagues above the average biotech at this stage.

Apart from Diggle you can't really say they are useless and I'm not overly concerned about him as he's only a non-exec and is only really there as he put money in, and is nothing to do with the critical labwork or actual product development. He doesn't detract from overall strength of the team and company.

Sidenote that's why I avoid leverage, even if you might actually get chance to eat 150% of the cake, at other times the cake comes after you and you end up with minus cake.

Quite a few people keep pumping KR1 here so feel obligated to highlight again that altcoin wise honestly unless you really need hand holding because of old age or something for buying alts better to buy direct. They are taking advantage of holders up with a 20% performance fee that will always limit upside. I take the ISA point but you're effectively being still being taxed just by the fund manager instead, and all things being equal for the most part at a greater rate than capital gains would have been.

It's because Sorrell has a golden share, rules mean that prevents it from joining major indexes. Market cap now too low for even FTSE250 anyway.

Do wish the best for remaining holders, you've been treated abysmally by the company. Feel very lucky to have exited after RNS, strange thing with this share is the delay between hammer blow news and SP fall. Up to 10 mins after RNS reaction was minimal. Didn't help they couldn't even stick to norms with RNS timing by releasing it 2 minutes into market open.

Totally agree Hepran. He's of course free to sell outside of close periods as far as the rules go but would be preferable imo if rather than drip drip selling he sought an II or even a large pharma to buy any holding he wants to offload in a single tranche, rip this plaster off at once. I'm certain the demand would be there. Optimistic another II will reach out to him when everyone wins from that strategy.

When you look at the sheer capital invested to get to this stage versus current equity value it's quite incredible how much value has been destroyed. What's most striking about this RNS is how tight the timings are and dependence on a lot of 'shoulds'.

Key players are clearly in no hurry as will be well aware the longer they can drag on finance discussions the more precarious the position of the company becomes, and therefore the larger slice of the pie they can ultimately take.

They did us dirty with that surprise 8:02 am RNS.

Non-core assets sale at 'advanced stage' is Emergent Entertainment imo, remaining sh.tcoins they can dump on any exchange and are otherwise ultra asset light. Couple of other small caps hold it (Pires/Riverfort) so wouldn't be surprised if it was to one of them.

Assuming finals on course for similar timings to previous years, at end of this month we'll enter close period meaning Diggle won't be able to sell even if he wanted to, so we'll get a break from this overhang for a little while, optimistic we'll see more SP stability leading into results.

Then in March he would be up for re-election, lets see if he stands again because Vulpes clearly going through some sort of transition (their OXB holding in particular was pretty central to their fund so trades there imply a shift). With OBD shares in new hands also a good chance other major shareholders will nudge chair to bring in a fresh non-exec imo. Could be opportunity to headhunt someone US based to tally with focus there. Longer term remain as bullish as ever on OBD.

I flagged that dilution a couple of days ago so you're agreeing with me lol. Believe it or not a range of views are accepted there and it's evolved to be a place where industry as a whole is discussed, including pros/cons, unlike Boom where any hint of bearishness brings out the resident nutters.

I can click on profiles too btw, I can honestly say I've never seen so little of value from anyone on here. You truly are stupid aren't you?