Member Info for Globex

One thing I think we can all agree on, they should ditch claim of being "a global leader in cryptocurrency mining". They must just be copy and pasting a template but time for some humility now, in context of how far other miners has come makes them seem a bit delusional.

Probably no coincidence that their financial year ends 30/03 and they held on to healthy cash balance up to that date.

They were so keen to spend it that within two months it had pretty much gone, but by having £700k at 30/03 snapshot it will sail through audit and they will avoid awkward going concern questions. If they were to submit accounts with all that cash gone it would be a different story.

It almost looks like they've gone a bit mad. To go from nice healthy cash balance at end of last quarter of £721,000, then within 2 months down to barely enough to keep the lights on. Surely in lean times cash preservation key.

Strengthening balance sheet normally market signal of forthcoming placing. At the risk of banging same drum over and over they really should have done it already, ideally in the quarter they've just reported on. Now equity value is less than half YTD peak so there's a hard limit on meaningful impact it can have and market appetite.

Surprised this binance stuff has led to sell off to this extent as feels like sec have been signalling about CZ forever. I guess it's not great for industry perception to have one of the biggest industry players facing so many charges.

Argo as ever have been a bit unlucky with timing of quarterly, but a good day to bury bad news. Might as well kitchen sink all their worst, with btc sell off as a mask. Get that raise over with 😉

Yes come on high roller Jimmy! Only 10% needed for an EGM so you and the missus have surely got this? Oh wait

Yeah qbt is an archetypal aim grift, make a false promise, raise cash from naive, rinse repeat. They will string it out for as long as possible but it's a ruse and will never be commercially viable.

Seems very crooked how they sold for £1.2 million but somehow this became £500k net even though company had no debt. Then they say oh sorry now we're down to £200k available to payout. Shareholders vote against windup then suddenly oh sorry we don't have that £200k either and will have to liquidate. That's even though their own circular put monthly expenditure outside of corporate actions at £40k.

It's absolutely primed for an EGM being called to get rid of these chancers.

Jimmy's missus won't be happy

The stupid part is the company doesn't have any creditors, apart from director salaries + costs to wind it up. We know it was liquid enough for a payout only the other day. Securing funds for themselves is only reason they're so keen to liquidate.

Competition and Markets Authority wouldn't allow it

This AI pivot is a blessing for the bigger miners. We got lucky really as it was never part of their strategy at the outset, but now that the AI bubble is inflating nicely and demand for GPUs seems to be almost exponential looks to be an excellent wave to ride.

Very good call re Golden Rock. Looking at disclosures PH acquired 10% there at first, familiar. Golden Rock even now openly say they will need to raise cash to continue but market cap still more than double this.

Buffett's view on shorts is he doesn't mind them either, actually welcomes them

https://www.cnbc.com/2018/10/05/experts-including-warren-buffett--say-short-selling-can-be-beneficial-for-markets.html

It's a free market where people can trade whichever direction that suits them. It's only really on forums like this, and when companies are looking for a scapegoat, where shorts are given disproportionate attention as if they're some all powerful bogeyman.

That is the key question Reardon, yet to see a convincing explanation that dismisses PH's buy and quite a few on here have tried.

Admire your bravery with £30k in this, if true and you bought recently that would put you well in excess of even PH shareholding. At least we know there's one TR1 due, from jimmy on lse.

As our directors have pretty much nothing to do all day, relative to their whopping salaries anyway, it would be lovely if they'd update this page https://itsarmplc.co.uk/investors/significant-shareholders/

Would answer a lot of questions. Last update was 27th Feb and as we know a lot has happened since then, but with regs dictating every 6 months minimum annoyingly we're unlikely to get such a luxury.

Perhaps Peel Hunt are stalking horse this and making moves at last minute/without warning is part of their plan. Remember how in the first round of recent vote when company indicated windup vote would be approved, for that to be case I reckon PH must have not voted by that stage - only to vote against just before adjourned AGM.

As they're pros any delay won't be accidental. The mystery is what their gameplan is. I had assumed price suppression to stake build - people thinking delist vote would be approved would give them ideal opportunity. The spanner in works with that idea is lack of additional TR1 (so far).

Totally agree major events will happen between now and 2923

Yeah it would be more of a murder suicide than merger :D