Member Info for Hexam

"Appalling productivity which was around 100 BTC mined per EH in August. BitFarms mined more than 140 BTC per EH in the same month. Presumably they have had curtailment and/or have to turn the machines off in peak hours as they can’t afford to keep them running at peak electricity prices."

In the video PW actually said he was disappointed with the August mining numbers, as they expected to mine more, and this was due to significant curtailment during the month because of the high electricity costs.

"But you do leave alot out in your summaries."

Wolf puts in a lot more than most I think - including reference to the new value of the new company for both Hertz and CINE.

It's the incessant rampers that are leaving stuff out like the dilution or even suggesting it can't happen because the sp is so low (completely false and highly misleading).

Yes, every effort is being made by everybody that CINE survives and, in time, thrives. The bit the rampers miss out is what share of that new CINE will we be left with? 0% like Vue? 3% like Hertz? 10%?

I would see 10% as a big win which gives LTHs a decent chance of getting a reasonable portion of their investment back and maybe all of it if they've averaged down significantly.

But in my view the moon posts are just ignorant, irresponsible and dangerous.

LTH - I think they were wiped out via a debt for equity swap with lenders taking complete control of the company?

"Vue was a private company so had no shareholders?"

Just means they had private shareholders instead of public shareholders.

“been a mining difficulty increase during the month”

Not true - it fell 2% in August compared to July. The big increase in difficulty at the end of the month will hit September’s numbers.

As to repeatedly hitting targets I think they’ll be some way short of 5.6 EH by the end of the year.

But no improvement this month in mining efficiency which remains around 100 BTC mined per EH - way behind the best (130+). Presumably they had downtime again though in August and no overclocking so September should be better hopefully for showing progress on (one of) their Achilles Heel.

“Cine is already there in small cap list”

Yes - but the point of the RNS is that they are going to be deleted from it!

Chip - just think of the indices as particular collections or groups of listed shares. CINE is still listed but will no longer be part of those collections as they no longer meet the necessary criteria (as explained by other posters).

Sorry - they will be removed on the dates given.

It just means that they've been removed from the indices listed, which was expected, and doesn't mean it is suspended.

"Explain how Cineworld can dilute shares, when the shares are almost worthless already".

I've explained it many times (and so have others). I've given up trying. Look back if you're that interested but if it didn't register the first, second, third, fourth...time then I doubt it will now.

Exactly @Kwota. The revenues may be 68% US but share trading volumes there are miniscule compared to LSE. I don't think it's even listed on any stock exchange over there - just traded OTC.

It's bizarre to think the US trading will have a significant influence on the sp - let alone it becoming a meme stock. Unless I'm missing something?

"USA about to put boosters under the share price now 5, 4,3,2…"

Why?

"Hexam, would you agree that they'll have to put a value to the NewCo after restructuring?"

Yes, and I've said before that I would expect this to be north of $2bn (based on outlook for profits and simple logic that much less and they would just go after the assets and not faff about with a chapter 11).

So basically I agree with what you now say! (The bit I was disagreeing on was that there will be an IPO.) If it all succeeds and existing shareholders get 10% of newco then there is a decent return to be had (and agree there is no reason the Ch11 should send the sp to zero). The thing is we just don't know what will happen, which is why the sp is hanging around 4 to 5p. It all depends on that percentage which in turn depends on other things (how much debt is foregone, performance over next few months, court case, rent negotiations, part-sale of the business(?), attitude of other lenders etc.). Add to that the risk it may just all collapse.

There are so many unknowns and twists and turns to come that anybody that is able to call it confidently one way or the other how the sp moves from here has one heck of a crystal ball (or more likely think they know more than they actually do - or even more likely are just ramping or deramping for their own interests).

The dilution won’t be from an IPO it will from whatever the lenders take in return for their support/reduction in debt. There may be an equity raising much further down the line but for now that ship has sailed.

FTH - I agree with just about everything you said - except the last line. I cannot see how all that translates into an 'initial' 23p a share given the scale of dilution they are warning us about.

I don't have mystical powers and unlike you I have not made any predictions like your utterly irresponsible "By March many of us here will be sleeping even more soundly with our huge profits tucked under the mattress"

What I have described is how D2E works but I don't know whether we'll be better or worse off than we are now at the end of it all. You're the one that seems to be certain without knowing any of the detail.

"simply as i believe the current valuation , and MCAP is not correct , its priced for end of life, and thats not the case"

Indeed - but if the company is worth, say, 20 times current mcap once it's been resuscitated but we only retain 5% of the equity then our shareholding will only be worth the same as it is now. That's the question - will the new pie be bigger by enough to offset the impact of our share of it being much smaller? And nobody knows.

My guess is that it is being sold - especially as the debt has been transferred too.

"For a company everyone was saying they couldnt raise any money they seem to come up with 1.9 billion pretty quick."

Exactly. That's D4E and the lenders are going to want a lot of E for their D.