Member Info for IlIllIlI

I had my suspicions when the announcements were late that all wasn't well but I was expecting a divi cut tbh. Bottom line this investment no longer matches my thesis so it was time for me to punch out. What I will say is I agree with @Senator1 100%, communication has been bad and needs to improve. A well-delivered restructuring will support growth, but that wasn't why I'm here.

I hope it works out for everyone because the ride down will be brutal if it doesn't.

@legache can you tell me where you've seen that date? I've checked Dividenddata, RNS and the BSIF site and can't find anything. Maybe I'm just looking in the wrong places!

The Q4 Dividend for the last couple of years has normally been declared in late September, and gone ex-div in October. The RNS published on the 2nd of October mentions full year results will be announced on 21 October 2025, but no AGM, no dividend announcement. The delay in the results announcement also strikes me as though there may be more complexity behind results than expected. Any thoughts?

If the past is anything to go by the direction will be down. It fell off a cliff in October 21 and never looked back. It's amazing just how bad this share has performed. Aside from one point in August 21 it's never been above it's MA200. MODE's chart is a real dog case study.

> look at the chart

Ok, I'm looking at the chart and can see:

1. Still below the MA50 and MA200.
2. Been below MA50 since September 22.
3. Has only spent 4 days in August 21 above MA200.
4. Below and meeting obvious resistance at EMA21
5. Declining volume.
6. The only uptrend I see is on short MAs

The chart looks like someone peeing off a cliff. Say what you want about RTO fever dreams but that daily chart is so ugly I wouldn't touch it with your money.

Came in to check on this and oh my gosh you can really feel the love here. For those silly enough to believe this will turn around here are some numbers:

This share closed yesterday at 1.275p.
On the 20th of Jan, 2022 it hit a low of 16p.
On the 20th of Jan, 2021 it hit a low of 48p.

At no point did they turn the fall around. The shares tanked, people left and weren't replaced. Then they repeated till they have two directors left and very little but a licence from 2 years ago and debt. This is not how a healthy company works. There's nothing in this company that suggests a 16x let alone a 48x return will happen soon. Even if they restructure debt and keep the lights on, there is no plan to build from there. There hasn't been one for years. 10 tokens is the start not the end of one. They couldn't even deliver that.

The chart looks like a ski slope falling down to zero. I count 22 straight red monthly candles with increasing sell volume most months since June 2022. These candles started in the middle of a Bitcoin bull run! If you were mugged by this share you should've got out on the way down. If you didn't, the lesson is to build an exit plan into your purchases and follow it through.

If you're topping up for anything other than short term trades you are a fool being parted from their money.
If you're still ramping this dross, shame on you.

I guess for people who got in at 40-70p who are still here there's not much point selling now. That CLN was the beginning of the end. I guess the moral of the story is never buy into another Jonny Rowland project. I honestly thought his Dad would've bailed this out and helped him offload it to the Emiratis or Kazakhs by now.

I keep seeing references to Amazon and Supermarkets. Is there any actual substance here? Have Amazon or any Supermarkets been working on an actual deal with MODE or is this just a "It would be great if MODE did this" thing?

Did they go to the moon without mode? Even bcarm's been quiet for a few days.

It's lossmaking, a load of debt was issued to keep it afloat which should run out some time this month or maybe next if the burn rate maths I've seen here are correct (I guess we find out), and it's been exceptionally poorly managed since day 1.

Then to top it all off we've a conventional and crypto bear, which along with the CoL crisis will at least limit the amount of people easily sucked into something like this compared to the lockdowns and furlough where cash was fairly flush and valuations were high.

You know it's bad when the bulk of activity comes from the sole delusional ramper on this chat. Companies don't always die when people are still talking about them. It's when they stop talking about them they die.

"a lot of people will be sad not getting in at this prices years down the line...."

Based on the past years performance I don't get why people would want to have paid more to hold something that won't have even paid dividends in the interim.

The self-denial here is truly incredible to watch. Ziglu has cashback, a yield-generating investment option, a card, an exchange and multi (fiat) currency spending - across a range of tokens. Mode isn't in the same league, it's not even in the same game.

And as for a 10 bagger, that's hilarious. If it 10-bagged from here it'd still be below where it was a year ago!

It had a good idea, failed to execute partly due to regulatory constraints but mostly a result of management incompetence and is now stuck with a cashback scheme but little else to show for it. I don't see how a company raising money via CLNs that doesn't want to publish actual numbers is going to 10x in a market like this.

There seems to be some idea that FCA approval is some magical valuable thing that other firms can't get. That isn't true.

Ouch! Almost 95% down, that's quite a ride. I guess the story is only almost 95% over. I didn't see a catalyst when I last checked in. I had hoped it'd have found one and be higher now. I thought JR was going on all year about how they didn't need to raise funds externally? If they're taking on CLNs they can't get better investment elsewhere and that's really not a good sign.

Is there a significant catalyst that can see this go back? Failing that is there anyone who'd buy mode?

Not convinced of a placing Jay_P. I think it's more likely Rowland Jr will go to the bank of dad for a bailout before that happens. It's just not in a good place right now. I totally accept macro conditions affecting markets but it doesn't explain sub-10p - the buck stops with Rowland. At some point MODE must reach NAV though, surely?

I'm referring to mode's lack of competence to date, not anyone here btw. GLA.

Competence would be nicer.

The only thing stopping him is his inability to execute. After what we've seen I'm not sure he could run a bath, let alone a company. 13.75p open and nothing to stop the bleed. This is just sad now.

It would be fair to say that Mode entered the market with one business model in mind (bitcoin jar etc), and that their FCA approval invalidates that business model. For that it would be reasonable for them to not have gone into DeFi etc. Months down the line we don't appear to have anything concrete about what new FCA-approved business model MODE has. It's clear the affiliate marketing side didn't work out as hoped, but since then they just appear to have buried their heads in the sand while haemorrhaging key staff.

@Goolang you said they were buying and selling - are they selling? I thought they were LTBH. Are there any public records of them selling BTC back into GBP, or any numbers you're aware of?

It's not a good luck, is it? Honestly I have no idea what's going on in the ship beyond people leaving. I've hammered on about the need for a catalyst and all we get is JR tweeting stuff like this.

Mode need to do one of three things:

1. Expand the tokens on offer and pivot to an exchange.
2. Expand and announce confirmed partnerships as they come in.
3. Sell everything off, close the company down and return funds to customers and shareholders.

I'm not convinced there's a long-term viable business here. Their plans for the bitcoin jar were scuppered by the FCA and they haven't been able to replace them. They might not need a placing now but they're far from profitable. I have zero faith in JR being able to run the firm day to day. Before Ryan became CEO he wasn't exactly doing a decent job. Failure just doesn't seem to scare him, when it should. It didn't in his previous businesses, it didn't when he was ramping Teathers, and it doesn't with this. If Liu leaves it's over.

It's like it's from some alternate universe where they didn't repeatedly overpromise, underdeliver, then screw the pooch.