Member Info for Hexam

"Hex.Hex.or dear. Did you not say awhile ago that you sold out and you would leave us alone, your wording."

Yes, and I said I wouldn't be back until there was a raise which was obviously coming - and did.

Correct Dave.

They are not negotiating with US miners - do you think FG is lying in the PRN?

Oh...and your numbers are wrong.

NASA - Why do you think they will be in commercial discussions with miners? They have nothing to sell them. Miners will buy the chips from Bitmain (or other chip manufacturers) and it is these that QBT need to talk to and set up deals with so that there IS something to sell to miners. Sure the miners may be interested in what they have to say but the idea needs to be sold to the chip manufacturers first so that a product can be built and any contracts QBT have will be with those manufacturers - and this is exactly what FG says in the PRN.

"Following the filing of its new patent application referred to above, the Company is now in a position to demonstrate its FPGA-based live Bitcoin mining, via a mining pool, to potential clients who it anticipates primarily will be hardware manufacturers.

The board of directors currently believes that working in commercial partnership with a major hardware manufacturer via a licensing agreement, will be the most logical route to market, principally due to the cost benefits to QBT when transferring its disruptive technology from an FPGA to the most competitive ASIC in the market."

"I’m hoping the Umar statement is widely incorrect. If that is true it could decimate the sp even further here."

I don't think it would as surely we've reached saturation point on such skeletons. I think only results will move this now - for good or bad - or some capital activity (bids, partial sales etc.).

The point is results aren't 'due'. That's not being pedantic, just accurate.

Sorry but I don't see it as big news. It's a large amount to me but not to her and besides you get plenty of directors buys in their own companies without it working out. She may be confident in the company but that doesn't mean it is well placed and I don't think it's because any current numbers are looking good - I'm sure they'd be shoving any good news down our throat at the moment, not staying silent.

“And yet Carol Kane, a director who knows far more about what's going on with the company than anyone on this board, bought over 320k shares to add to her already bulging Boo Portfolio. And all before the results are due.”

But results aren’t due. If they were then we’d be in a closed period and she wouldn’t be able to buy.

Might have to wait until May before we get any numbers.

"Thought they already had an irrefutable product that saves all miners 30% of their operating costs?"

That's one thing that can't happen. If ALL miners adopted the 'irrefutable' product then the difficulty would just adjust to make it 30% or so harder to mine so they would be back where they started - or actually worse off as they would be running more expensive machines to achieve the same result.

That's not a bad thing for QBT as they would still win - it's the miners that wouldn't.

'facts communicated by FG' - now there's an oxymoron

"Why on earth would he publicly , via RNS & 3 on record interviews say it .... if he couldnt do it?"

Did you miss the raise PRN this morning?

We don't have proof of it working on the FPGA either - just their claim that it is. We will find out soon enough whether the major players next week share QBT's view that they have proof especially as we know they are not demonstrating it by actually mining BTC.

"QBT can improve BTC mining by around 30% .... thats all you need to know !"

But we don't know that. All we know is that is what they claimed. If they can prove that claim (rather than just claiming they have proof) then the sp will rocket. If not then it won't.

The RevB holding is a just a paper profit at the moment but that would turn into an actual loss if they were to sell now.

"Peeps missing the point here.. they raised 2 million you wouldn't be able to do that if the investor or investors have full confidence qbt can deliver."

Not true - all they are interested in is whether they can make a profit (which they probably already have). Even ARB got a placing off recently and that is slowly withering away.

I'm afraid there's a boring accountancy answer to the value of RevB in the BOO accounts and this means the valuation is not affected by the share price at all. This is true whether the share price goes down a lot or up a lot.

After it got its way with the the Board of RevB it had to treat its holding as an investment in an associate (rather than previously as just as the value of the shareholding it holds based purely on the sp). This means the value now changes with the financial performance of the business of RevB and no longer its share price. Of course if they actually sell the holding that will create an immediate loss but I don't expect the balance sheet value to be reduced because of just the sp (it will be though if RevB posts a loss).

Phimx - The previous rejection just showed what should have been obvious anyway i.e. that they can't patent software (including Method C) but then they are not trying to do that this time anyway. They are just patenting the putting the AI Oracle onto an ASIC chip (and so are calling this a hardware implementation) and not patenting the AI Oracle itself (this is made clear in the RNS).

Not really sure they can do this either (assuming they are successful anyway in putting it on such a chip and not just the prototype FPGA version that they have said they've done so far). Also the patent doesn't prove the 30% is valid - they could just end up with a patent for putting something which has no benefit onto a chip.

To be fair they are probably not working for nothing as they are presumably being paid as consultants which means they won't show up under salaries or employees. Instead they will be under legal and professional fees and/or research and development costs - which between them had a spend of €1.5m according to the last full year accounts.

"Have they ever presented to major players before?"

Yes, or so they've claimed - and in the US too. Has never come to anything though and I expect this to be no different.

Yes, it seems like he's moved on already. Less than a week's ramping here (but still over 80 posts) he's now on BANK with the same messages about 'NT to buy' and various supposed MM shenanigans. Not a poster to follow if you like money in your pocket. At least his absence is one good thing to come out of today's raise (hopefully I haven't spoken too soon).