Member Info for Globex

The $1 minimum is key with Nasdaq.

Market cap mins come into play instead for joining (or being booted from) indexes like Russell 3000. Those indexes much less critical as if you're dropped from one of those shares still tradable - whereas if you're delisted from Nasdaq, unless you join OTC market (or have a secondary listing in another country), suddenly you're back to owning a private company.

Worth noting CDT are already on delist warning for not meeting another rule relating to audit committee - they have until November to sort that, but this came after another notice relating to late accounts. It's quite striking CDT is a company routinely failing to meet its basic regulatory requirements.

https://www.sec.gov/ix?doc=/Archives/edgar/data/0001896212/000149315224022228/form8-k.htm

This would shred what remains of Argo's credibility. To put it kindly them teaming up with QBT would be like joining a suicide pact with someone wearing a full clown suit.

They are in a sticky position indeed. I'm sure they were banking on btc being higher for fundraise about now, to get it away before the summer hols like last July. I think they'll do it soon regardless, as it's a case of the company not surviving if they don't (and arguably even if they do). How much they can practically raise is the real uncertainty.

Galaxy definitely holding a sword of Damocles over the company's future now.

If Galaxy did pull the plug they'd be seeking a host in a market with demand at an all time high. Those with the infrastructure/leccy can pretty much name their price. Then even if it was feasible to find an affordable alternative 3rd party host, imagine the downtime and logistics of moving machines. Zero income while that happens but the debt repayment demands continue.

I can't think of anyone better placed to judge on the credibility of the idea than the company's Chief Technology Officer, employed up until a couple of months ago. He'll certainly have more insight than most, so what he did with his shares is probably telling - certainly more so than your typical low grade ramper making false claiming multibags.

Credit where it's due they've done a very clever thing by riding the Tesla stardust to get this pumped up to an absurd valuation thanks to the naive to buying in.

Only fly in the ointment is shorts have actually increased since bid, now up highest to highest reported level since 2020.

By contrast Bellway still minimal short interest and other housebuilders rallying, presumably in anticipation of new government tomorrow and aggressive housebuilding policies.

Unclear what, if anything, this indicates about prospect of bid being upped.

Could just be part of an asymmetrical trade, ie long strongest in sector vs short weakest. Crest's recent history would naturally place it in latter part of that trade. But with a bid on the table and deadline for round two approaching within next 7 days, still a bit surprising.

The board could never allow a voluntarily wind up as it would end the charade and expose the real market valuations of the properties.

Wouldn't blame them for raising as much as possible at this market cap. They must be laughing to themselves they've got a company valued at £8m+ essentially for an idea and a collection of consultants with nice CVs.

This wouldn't surprise me. The stop-start buyback appears to be another anomaly. I haven't seen an explanation given for no shares being purchased between 9th May - 28th June. Can't be due to a closed period as buyback handled by third party. Plus it actually resumed 2 days before this trading update. You'd hope it's not something outlandish like a delay to juice reported year end cash, but when trust this low everything deserves scrutiny.

Agree Kong1

At one point this share was ramped something silly, especially over the winter. Most of those posters have left now after calling it terribly wrong. Problem now is board is down to the absolute diehards who won't accept even a mostly positive post - because such posts are not completely positive.

It's amazing they'd watch over the sheer value destruction that has occurred here and not have a bit of humility towards posters who got it right, but I guess this is what happens when a board gets distilled down to essentially the nutters.

@Sunshine nowhere did I state that OBD will be getting the full £9m.

Let's see how market reacts if they get the award. My response to Pensioninvestor's question was that - in my view - it would be a catalyst. I simply gave him my reasons for having that view.

On the other hand you have zero credibility left here I'm afraid. You've called it wrong throughout. Bullish at absolute top - I remember you trying to argue with me when I pointed out glaring issues when this was 30p+. Maybe that's why you're trying to save face now.

Pensioninvestor my view is yes it would be a share price catalyst.

Getting approved in itself would give them much needed credibility. Then a wide scale trial is exactly what is needed. And being on the inside of NHS with partnership would open commercial doors. No bigger potential customer than the NHS.

On pure numbers, with market cap today of £23m, a grant of £9m (albeit shared amongst some uni labs) represents just under 40% of the entire company's value. Relative to the company's size that is highly significant.

*uninvestable

Agree management revamp urgently needed, totally uninventable with this current team

Agree on Cifr. Choppy stock but has a lot going for it like machine newness + low energy costs + holding btc. Very aggressive expansion plans too, 13EH+ by 2024 end, then targeting 500MW+ of own sites by end of 2025, if they succeed that's a monster in the making.

CDT now lost over 80% of its value year to date. Teetering on brink of $1 Nasdaq compliance threshold.

Given how much of Vela's NAV it makes up (or rather used to make up), actually surprised if anything Vela share price hasn't fallen more.

Rest of Vela's assets might still worth more than market cap, but same can be said of even most high quality investment trusts trading at a discount to NAV. In Vela's case those assets mostly highly illiquid. None more so than CDT if it gets booted from Nasdaq.

Wombat

My view is that insider trades always worth following closely. I have absolutely no regrets. If anything I'm grateful to him for the major sell signal.

The icky part isn't so much the amount he sold (although hundreds of thousands of pounds is would be a lot for most people) - but the timing.

Before he sold, the last market knew about CiRT sales trajectory came from Aug 23 presentation. Then see market reaction from results published Jan 24. In between Aug 23 and Jan 24 we had the Diggle sales. Board meets 10 times per year. I'll leave it at that.

There is one glimmer of hope. This grant that Prion25 posted about, potentially £9m up for grabs. Results next month.

I would expect a re-rate if they succeed, for not only extending cash runway but NHS deal at same time. I've been bearish on this stock ever since Diggle sold, before most others, but if they succeeded with this even I'd consider buying in again.

https://markets.ft.com/data/announce/detail?dockey=600-202406250200BIZWIRE_USPRX____20240624_BW074525-1

On BTBT was able to confirm it was 100% Chinese, used to be called Golden Bull.

https://www.sec.gov/Archives/edgar/data/1710350/000121390020020595/ea125130ex99-1_goldenbull.htm

https://www.spglobal.com/marketintelligence/en/news-insights/trending/lqvz4b9nt5yv5yjlvfunhq2

It appears they simply rebranded and appointed Western figureheads to board (they had to because a bunch of the Chinese ones were jailed in Shanghai according to a report).

Looks like auditors having difficulty with the numbers. Who would have imagined it?

Same age as Facebook/Meta. Let's not get too misty eyed while it still hasn't turned a statutory profit.