Member Info for Globex

Shareholders including Frisby made £50 million when this floated, then got to sit back and relax. Pretty big win for them I'd say.

Absolute no brainer at 23p imo, when in 11 months time that'll be cash in the bank. At current depressed market cap, effectively the rest of the company comes for free.

Frisby will be voting yes on this deal, he constructed the whole thing with his mates. He benefits massively by getting to retain his holding and taking the company private, for free.

He gets all the stock, IP, even cash left in business, effectively for free. Best part for him is he won't be accountable to shareholders and all the responsibility that comes with running a public company. He'll be able to do whatever he wants.

Dream deal for him, don't rely on him to be the saviour here.

Frisby made millions when this floated. If he wanted to he could have simply put forward a reasonable bid for the company to take it private. Even a small fraction of the money he already gained from shareholders on IPO would be multiples of current market cap.

He didn't do that because the current deal being put forward enables him to get it for peanuts. He gets to to have his cake and eat it too. He might get the company for nothing but at the cost of his reputation, in absolute tatters. A bit like the company's polyester dresses after they've been worn a few times.

At 23p this is looking excellent value now, imo. GBP on the slide helps. With the $90m net payout being ~£76m, this is greater than the current market cap. It's pretty crazy to me that by 3 February next year we'll have more cash than the company is current valued at - give or take routine working capital expenditure. They could shut the doors and we still break even, price has fallen so low that no other company endeavours accounted for in current SP.

A rare bird and a good opportunity. Just my option, dyor and all that.

Aside from the altcoin project, does SatoshiPay have any actual revenue currently?

Here's the HQ of the buyer touted in the RNS as having "scale and extensive sector expertise"
https://goo.gl/maps/yQ5vu3tpTFvhq2UW7
(not a joke)

Thanks for announcing you're off to the gym, I think you've confused this website with grindr

Replies to that tweet suitably brutal, can't be long before they turn comments off

Excellent research folks. As we countdown to a deal this is all a timely reminder that we have some truly valuable assets that remain untapped, so much potential still underground.

That coupled with a producing asset generating enormous free cash flow, not to mention cash in the bank surely now ~80% of the market cap alone, imo this company at current share price represents an absolute no brainer investment.

Discussion of other miners is all relevant to Argo, we're talking literally the same industry. All are facing same challenges and catalysts. Can't imagine people on the Shell board start crying when someone mentions BP.

One saving grace is there's not much chance of Bonnier or his imaginary consortium getting a board seat. It's likely he's only in Indonesia because of the lack of extradition treaties. He's stuck there.

The mystery is why they didn't change strategy as soon as it became clear the model was not working when it heavily underperformed during pandemic boom. Even now sticking to flat fee model is madness surely when it results in whopping losses of £15-20m.

I wonder if the CEO's personal experience of bankruptcy will help her navigate these choppy waters? One thing's for sure, she'll be using her "at pace" catchphrase. Let's hope for shareholders' sake it won't be referring to how fast the cash pile is going down.

Bonnier on the register is the only thing holding the company back. He's like a bad comic book villain with all these shenanigans.

Very sus to come out and say hey guys we own 10% but might buy more up to 29%.

I mean if you were legitimately stakebuilding, the last thing you'd want to do would be to pre-announce, beyond statutory disclosures as clearly that would only in having to paying more.

So hopefully it means the opposite and he's selling, with press release just a ruse to get a higher offload price.

It's interesting that only now they're dropping news of rent collections being so dire, only 23% paying must rank this as amongst the lowest ratio of collections for any commercial landlord portfolio. Certainly for a plc must be unprecedented?

It looks like they have a vested interest in kitchen sinking that bombshell, it does appear that Bluestar is effectively a front for Alvarium, the FT have reported on those links now
https://www.ft.com/content/4f8d442c-055b-40a5-a763-7d2f945f5892

Scandalous. This outfit should never have been allowed to float. Regulator must have been asleep at wheel, short report was bang on.

Oh dear Earl's getting a bit desperate now.

Oh dear, classic EarlofShame pump and dump. Watch this crater

More feasible is a confiscation order, the only snag is a criminal prosecution would have to come first. If that happens arguably the better punitive action would be to seize ill gotten gains from shares already sold, ie at IPO.

How many years now has Moulding been promising positive free cash flow? This has only ever made a loss since 2017, all those protein shakes gone to his head.

Plan needs current shareholder approval anyway, can't see other IIs voting for this. Give away 15% of the company to two directors, dilute even more to yield £250m. Will drag on for years trying to find more oil, or for P8 to get rejected again.

Better to simply deliver cash to shareholders and put this turkey out of its misery.