Member Info for Hexam

Please point out a single piece of misinformation I have posted. Happy to clarify or apologise as appropriate. I post mainly to counter the misinformation other people post (like the ‘new’ video yesterday that wasn’t new at all).

“… so why the hell invest in it (and BOO) in the first place … it’s always been a high risk / binary play here, since day 1, that you invested in , then you moan and criticise it at every twist and turn …. Your pretence is totally non-sensical !”

I’ve explained this so many times but yet somehow you still don’t get it. So I’ll put it a different way.

We all invest to make money but you don’t have to believe in the company to do that. All you have to believe is that the sp will go higher than it was when you invested. Usually that is because of belief in the company as well but that’s not the case for me with QBT. I just think it will spike (as it regularly does) on updates that get enough other people excited. This will allow me to sell at a profit - as I’ve done already before.

The risk for me is not that their methods don’t work (for me that’s a given, but a very nice bonus if I’m wrong) but that they go bust whilst I’m in. The raise earlier this year means I think the risk of that is low in the next six months.

It’s not rocket science but it appears too complex for you. I’m here to make money like everybody else but that doesn’t mean I have to believe in the company - or pretend I do simply because I want the sp to rise.

“... yup , youre defo a glass half empty kind of a chap !”

Nope - actually very positive generally about life and most of the companies I’m invested in. Just not this one (or BOO).

I think this is a typical AIM gravy train but it does spike quite regularly and hopefully will do so again. I just get a bit annoyed by the ramping garbage sometimes.

FED - that wasn't an RI though but a placing - and at over £15 per share. Very different to a heavily discounted RI. Lots of other stuff going on too.

Panic? The share price is just over 0.6p and has been stuck there for months. I'm invested so the only concern I have is whether they'll be another spike to get out on before it disappears for good. Of course if I'm wrong and they actually succeed then I'll have plenty of egg on my face but also a huge profit so will be more than happy with that trade-off. Go QBT! :-)

What case? You said it has been verified because of some cartoon, I'm saying it hasn't because that cartoon doesn't prove anything (and isn't even new). More generally though I can't say it hasn't been verified to anybody any more than you can say that it has. Neither of us can know. Where we differ is that I don't think it ever will be but you do - but that's OK, that's just a difference of opinion and we'll just have to wait to find out which of us is correct.

"do you think QBT are plucking figures out the air then?"

Yes actually, but that's just my view. Of course you are right that I don't know if it has been verified to miners etc. as I'm not privy to what has been shown to them - all I am saying is that this animation is not any kind of verification.

It hasn't been verified. It's just an animation for goodness sake.

And the ASIC miner they are in NDA with is about Method C.

Nothing has changed.

One thing I agree on is that it is the manufacturers, miners etc. that count - not us - but if you seriously think that animation will make any difference then sorry, but I think they'd be more impressed with some actual evidence (which of course they may be providing but this isn't it).

"Hexam - I have also seen examples where the share price rallies after a balance sheet recapitalisation."

It would be interesting to know of any examples as I can only go by the ones I've been involved in and they've all gone down - badly (just talking about RIs here and after allowing for the expected fall due to the discounted offering).

It stops at 26 not 25 - so same improvement as before.

Why is it a 'huge' deal or any kind of deal really? It's just an animation to illustrate the claim that Method B mines 160% more BTC. That's been their claim for quite some time now and so hasn't changed. The 'huge' deal will be this being proved in real life or even just a miner being convinced enough that it is true in real life. Don't expect any fireworks on opening tomorrow.

That's the theory but I haven't seen a rights issue yet where the Enterprise Value has stayed the same - it's always fallen. Besides it's the mcap that shareholders are interested in. Also those who don't participate will have less equity but they will be compensated by selling their rights and should (at least initially) be no better or worse off than those who participate.

You should have actually played the video. It remains 26 mined versus 10 so still the same supposed 160% improvement.

Actually UserSteve my full quote is "A bigger red flag to me than all this though is that as far as I can see there has never been any feedback of how well any meetings have gone or how interested potential partners are in their products or of anybody showing any excitement at all about what they've actually seen other than from QBT themselves."

So whilst I agree with you that there has never been any concrete outcome from any of the NDAs etc. my point was more that when it comes to how well meetings went etc. it is only QBT saying it. There is never feedback outside QBT of how interesting, promising, exciting, ground-breaking or whatever from anybody that has actually been shown anything. It's all we 'showed them this and they thought it was great' rather than 'they showed us this and we thought it was great'. As I said NDAs may obviously prevent some comment but surely having supposedly shown so much now to so many people surely there would be more general excitement and buzz going around if their products were even just half as good as they claim them to be?

"One large ASIC chip manufacturer isn’t skeptical though"

How do you know? They signed an NDA AHEAD of doing tests, do you know then how these tests have turned out (assuming they've even been done)? Are they about to sign on the dotted line or are they still interested at all or is it something in between? If you have any update please let us know.

And I see you've signed off with the usual conspiracy nonsense. Anybody who doesn't have faith in the company must be a shorter or work for one. How depressingly unoriginal (and clueless).

"Something doesn’t add up"

Yes, the claims that QBT make.

There is a long history of false dawns and of 'progress' that seems to stand still or even go backwards e.g. 'advanced talks' with miners that become early talks with miners that then move to a stage of being able to begin exploratory talks with miners. Or NDAs over the years that have lead nowhere with the latest ones showing signs of going the same way. Or being nearly there with Method A to switching to being nearly there with Method B to switching to being nearly there with Method C to switching back to being nearly there with Method A. Or taking their 'products' to the US two years ago and having meetings, to taking them to Nashville this year and having meetings/demonstrations, then having meetings demonstrations in Florida to now having meetings/demonstrations in Vegas - and each time speaking to the big players as if it is the first time. There are only so many 'big players' - they must have circled back round by now?!

A bigger red flag to me than all this though is that as far as I can see there has never been any feedback of how well any meetings have gone or how interested potential partners are in their products or of anybody showing any excitement at all about what they've actually seen other than from QBT themselves. Zero buzz from anybody else in the industry that I'm aware of and even if some are bound by NDAs surely there would still be some groundswell of eager anticipation within the bitcoin space if they really had something?

Is it any surprise then that some of us are highly sceptical?

From Finlay’s only words though it just seems to be a timing thing with consumers buying summer products earlier than usual rather than something that will lift overall performance and guidance.

"Pressure is on, which miner will get the first deal?"

None - as they are not trying to do deal with any of them, it is the chip manufacturers they are targeting.

"Concept now proven and displayed" - if it had been then the sp wouldn't still be under a penny.

"I'm not sure BOO would sell for that kind of price."

It would mean another £16m write-off so for once I agree, unlikely to want to sell at that price unless they have so little confidence in RevB that they think 15p is the best they are ever likely to get - or they are that desperate for cash (surely there are better options though).

It might raise a little cash but unless the price obtained is much, much higher than it presently is, selling its RevB stake would lead to a big write-down and another chunky loss in the accounts so wouldn’t be my idea of ‘releasing value’.