Member Info for Hexam

Put it this way, if they sold everything bit by bit they would be left with just a pile of cash but it would be a lot more than the current mcap and it would all go to shareholders so doing half and half should likewise benefit us though I wouldn't trust them to run what's left so I'll be off as soon as any sales take place if not before.

“The sum of the parts at Boohoo is greater than the current market cap,”

...just as I've been saying.

Breaking it up makes sense and should be good news for us...assuming there is something in this story rather than it just being guesswork. Will be interesting to see what, if any, reaction there is next week and if we get results too (will be enlightening in themselves but they may also comment on this).

Says the poster who posted yet more fake news because he was too busy driving whilst he was texting (naughty boy) so didn't bother to check the source - again.

"I think it gave an sp of over £1!"

Actually looking back the possible sp I projected was over 20p but I said that was ultra conservative (I did have more aggressive assumptions that did suggest over £1 but posted the more conservative ones).

For balance I should also add that some time ago I posted a possible valuation of QBT if method B was as successful as they claimed and launched commercially. I think it gave an sp of over £1! It sounds ridiculous but again I gave all my assumptions and workings and again they weren't challenged with any substance. The only difference was it was the 'trolls' that give me grief and the 'rampers' that lapped it up - so much so that Jambone reposted the valuation at least a couple of dozen times (conveniently missing out the part about the probability of success).

I am 40% down on my (modest) investment but as you say no real biggie either way. Still, it's a reasonable question why I don't just sell up. First the amount is so small anyway. Second, we have seen any that positive news or whisper (however little evidence behind it) can spike the sp significantly - so I'm really holding out for that. Third, there is always the possibility they actually succeed with method B in which case even my very small punt turns into quite a sizeable chunk as this will in my view at least 10-bag if that happens and probably a lot more.

As to why I 'fight tooth and nail' I just don't like misinformation especially when it is in my wheelhouse which finances are. Just like I'm sure a plumber for example would find it hard to stand by if they see somebody else carrying out shoddy work. I don't know what line you are in (IT?) but if someone spouts nonsense on something you are very familiar with do you not ever get tempted to step in and try to set them straight?

Charming as always Steve. Anything to contribute on QBT. Anything at all?

Indeed he did say that, but not lately. I don't think they will be producing revenue now this year given the setbacks and the lack of talk on this subject recently but that of course is just my opinion. We also don't know how much revenue he was talking about. Even if they are live testing and actually mining BTC in a pool it won't be at a scale large enough to generate significant revenue. On the other hand if they announce an actual deal then that will be different gravy of course!

Because negative is pretty much all there is at the moment.

Did I miss the deal being made (which some on here said was imminent over a year ago)? Did I miss the proof of any of the methods working? Did I read wrong about the setbacks and delays with progress being slower than expected? Are they not continually shifting focus and approach?

On top of this they have just released accounts which I believe I have demonstrated as showing that they need cash within four months and nobody has given anything of substance to suggest that I'm wrong (other than to simply insist that I am).

If they release news of a deal, proof of working or anything else genuinely positive then I will gladly shout it from the rooftops but in the meantime I don't see the point of ignoring what is actually happening.

"Sorry Hexam. But i believe the style, diction and tone of this post is incredibly similar to that of BrewHaHa"

It may be but so what? I am not Brewhaha but believe what you will. Unlike many here I don't post on any other platform either.

"Your figures are incorrect Hex"

Again. you don't say which or why?

Do you disagree with the €1.6m cash?

Or the $530k which is part of the above from the early settlement that has now been voided?

Or the €1m+ of administration expenses in the last six months?

Must be one of them as they are the only three figures I've used and all are clear in the PRN.

Btw I am invested whether you say so or not.

"I don't need to justify myself on here."

Because clearly you can't. I shared my reasonings and workings as that's what I feel the board should be for to share our thoughts and give as much information to justify those thoughts so that they can be shot at if anybody disagrees - not to just stamp one's foot and say trust me bro.

And yet you won't say what is 'wrong' about them Kat. You just stick with the €1.6m headline cash number and say it's healthy for a non-revenue producing company. No more analysis than that. It is clear one of us produced and analysed accounts for a living and the other one didn't (or doesn't).

I think though I'll take Zesty's advice and drop the subject as you've nailed your colours well and truly to the mast on the subject for people to remember when they do raise funds (January at the latest) - and any credibility you did have will be completely shot. Let the proof be in the eating of the pudding and in the meantime just keep digging that hole for yourself.

If you look at the RNS as Kat suggests you will see a cash balance of €1.6m at the end of June which indeed on the face of it looks healthy.

What Kat fails to mention is that €530k of that is money received as an early settlement of the court case which has since been voided and so is not cash free for QBT to use at the moment.

He also does not mention the cost base with expenses over €1m in the first six months so it is not hard to do the maths of how much longer the available cash they have will last unless they reduce costs or receive income.

The one thing I agree on is to look for yourself and understand the accounts in full, not just a seemingly good headline number. If, like Kat, you are unable to follow a set of accounts please ask for help from somebody who is.

Happy researching (from a current QBT investor).

The only speculation is on the spend since June. If they have already reduced it already significantly then obviously they can hold out longer (though obviously it would mean they are doing less too).

In my view my posts are balanced. If there is what I believe to be good news I will say so (as with the recent strategy guy put on payroll) but I don’t see much good news in this latest PRN and nor does it seem does the market hence the sp reaction.

No it is what the accounts say.

You can see the €473k spent and we can see from another PRN they received a net €530k from the early settlement. Of course they could have reduced spend since June but the spend for the last two and a half years up to June has been a relatively consistent €800k to €1m every six months or around €150k per month.

So it is not my speculation it is what the numbers in the accounts tell us.

"not 99.999% as Hex states"

Have you forgotten that 99.9999% sure is what you actually posted yourself?? You really are all over the place at the moment.

Ah...I think you mean cash balance and not cashflow?

OK, so on that they had €1.584m cash balance at the end of June.

This had reduced by €473k over the first six months.

This would have been just over €1m had they not got the cash from the early settlement and this means normal cash burn is over €150k per month which is consistent with their cash burn over the last two years. All this can be verified from the accounts posted.

So they have maintained spend at €150k per month (being generous and rounding down).

This means as of now they probably have around €1.1m in the bank including €530k that is not free for them to use (yet) so €600k perhaps of usable cash which will last until the end of January on current spending rates. However, if they are prudent they won't let it go down to the wire like that so EITHER they will reduce spend drastically or perhaps raise new funds by the end of the year. Of course if something positive happens (like significant revenue starting or a JV or whatever) then they may not need a raise at all.

Rather than just throw out more immature comments how about actually critiquing my analysis above and point out where you think I may have made a mistake?

I'm sorry Kat but even my patience is being tested with the comment that cashflow is healthy. Where's that report button...

*€530k - oops I did it again as Britney would say.