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Thanks SD and Happy New Year by the way (and to all). SD, you were recently had news about some potential funding discussion and were temporarily positive about the outlook. Is it safe to assume this did not progress past due diligence which is why it is now quiet again?
The memorandum was not correct then. Any news from anyone? SD? I note that various WGP companies were in the London Gazette again in mid-December under code D1. I think this is just them submitting their Annual Returns though so at least some activity is still going on.
"The Company is not required to comply with Chapters 10, 11 and 12 under the Listing Rules (significant transactions, related party transactions, dealing in own securities and treasury shares). It should be noted that neither the UK Listing Authority nor the London Stock Exchange will have the authority to monitor the Company‟s voluntary compliance with, nor impose sanctions in the event of a breach of, any such provisions. Chapter 13 of the Listing Rules contains provisions relating to the content of circulars and is only applicable to companies with a “premium” listing. Consequently, the Company does not intend to comply with such provisions. Listing Rule 5.2.5 (cancellation of listing) will not be applicable to the Company in the event a cancellation of its listing were to be proposed."
No material obligation I'm afraid as WGP are a Standard Listing and opted out of many of the voluntary obligations that a Premium Listing would be obliged to follow. The Listings Authority are not monitoring them under the terms of the listing. A list of the opt outs are contained in the 2011 Prospectus.
Thank you Breakdance. I would not necessarily equate WGP RNS or PR releases with being informed but it is good to know at least one area of the business shows some signs of life. It would be good to know from SD if the plan as previously identified in the documents he shared is still on course for a re-listing in a week's time. Has Stuart Canwell made a difference? An update would be appreciated SD.
Hello all. Looks like another big flurry of activity in here. Would one of you be kind enough to bring me up to date over the past week? SD, any news on the funding round you were privy too? Bingobob, thanks for the updates. I just wanted to say that SD has been around posting on the stock since February 2012, long before Stephen Pearson even knew who Worldlink were assuming that is who you mean when referring to Stephen. Please keep the updates coming, it is very nice to have new faces in here.
A thoughtful young man has just checked for me and tells me Whyteleafe also have a Powered by Worldlink link also. Average attendance (I assume fans) is 200 per home game. He cannot find any others other than Ramsgate and Sunderland RCA. These match previous RNS release I believe.
To be fair to Bingobob, the website of Sunderland RCA of the Northern League does appear to have a logo powered by Worldlink which clicks through to what appears to be a white labelled version of the Bet Butler website. The central panel looks the same as Bet Butler but with a frame and colours for Sunderland. I think they are the only club in the Northern League that does have it though. Only checked a few. I'm not sure it is anything more than a standard affiliate partner deal likely with a shared revenue between the club, WGP (the Affiliate) and Bet Butler. Bet Butler announced an affiliate programme back in January and unless I am mistaken, they have no other Affiliates yet other than WGP. Either way, it seems clear to me that a relationship of some sort still exists between Bet Butler and WGP even if it is an arms length affiliate deal. Bingobob's explanation about Bet Butler committing to have white labelled websites for the Clubs seems plausible to me although I would think it is a relatively straightforward thing to achieve. For example, Saxobank who I mention below have over 300 affiliates and can fully rebrand their platform for a new partner in a matter of hours. Not sure why they need Worldlink for this (core business a mobile data patent?) unless time is of the essence as Bingo says which again seems plausible. To put Affiliates into perspective, Worldlink Brokers is an Introducing Broker arrangement with Saxobank's platform including the Saxobank mobile platform (no proprietary WGP technology). Saxobank have over 300 such Affiliates and are the leaders in Europe for financial partnerships. As part of this, Saxobank allow partners to use their own branding. I believe the Bet Butler arrangement is along these lines but as the first Affiliate, probably have a stronger relationship than your bog standard affiliate. In any case, without a viable patent, the blue ribband deals all off, I cannot see how WGP can relist or justify a Main Market listing at this market cap by being an Affiliate business. It could be a tidy little business as a private SME though. Happy to be proven wrong as always.
I hope I did not give the impression your opinion isn't welcome, it certainly is from my point of view. It is different from mine sure and I have learned to take anything stated by certain individuals at WGP with a grain of salt. Marked suspicion if I am honest which is a shame as you would think an inside contact would normally be accurate. My situation is simply that I have been involved in WGP a long time and in that time, WGP have communicated numerous near certainties, funding rounds, big events, big achievements etc. In many cases, they have far surpassed the potential excitement of current promises (e.g. that organisations like Blackberry etc were liable for the patent, some would pay £8million plus, big settlements to happen via Quest in 2009). If you can still access them, I recommend you look at the Press Releases from WGP since 2007. Just read them in date order. These are authored by Neil Riches in most cases. Keep a tally of how many of those Press Releases happened and how many didn't. Judge for yourself. In my estimation, the people making statements in here from non-Worldlink contacts have proven to be far more accurate than those in touch with Worldlink direct. I would say I did not trust Cityboyz initial comments but he has proven to be accurate. Southerndude is also a poster with a record running back to near 2000 with Neil Riches and Worldlink and whilst being largely negative on them (and who can blame them), recently posted more positive comments because that is what he was hearing. He is not biaised, simply wants to represent the situation as accurately as he (or I) see it. That does not mean we are correct but I am long since past the point of being regarded as a fool for believing in Worldlink in 2008 and 2009 whilst defending the opportunity and potential.
The Football side of the company is not really my area of knowledge as I am more connected on the patent side but I understand that Worldlink simply bid the highest amount during the periodic sponsorship merry-go-round. That's it, nothing more. I am told that the entire criteria for winning a football sponsorship rights deal is how much per year you are willing to pay. No other criteria provided to meet the minimum levels of due diligence. No special thoughts about their platform, just a willingness to endorse anything the sponsor wants to say if they pay the fee. Worldlink promised the most and being a "Plc", the Clubs had no reason to believe they would not fulfil their commitments. In my personal opinion, the assumption that a Plc can definitely afford it is bordering on negligent. In addition, Stephen Pearson was clearly the engine room and not Worldlink. I believe he has an independent relationship with the Clubs and Bet Butler. I am also told that Bet Butler need nothing from Worldlink going forward. Neil Riches is definitely not a mover and shaker in the world of Football. If Worldlink have indeed become a poisoned chalice for Football deals, I would not expect Bet Butler to go anywhere near them again. I also have it on good authority that Bet Butler have successfully and fully discharged their obligations to the Football League already notwithstanding the need to pay on future milestone dates as is normal. The "good authority" is a legal firm that also represents a financial organisation in London. Guess who that is? Technologically, now it has become apparently that the patent is valueless and impossible to enforce (on merit or on financial viability), Bet Butler can get a mobile product from anyone or develop it themselves. Virtually all the other market players appear to have long established and elegant applications. Worldlink do not and still only have 2-3 full-time staff.
I have to agree with Cityboyz again on this Breakdance. Even if he has been hurt by Worldlink, the facts are the facts. I too have been badly hurt by Worldlink after the shambolic 2008 Arc round which was less than honest in my opinion. This is approaching my 5th year of repeated announcements, promises and failures. Literally nothing that has been announced has been a success including big name deals like Telegraph, Express Group, Worldspreads, Ladbrokes (few years back), Interactive Data Corporation (who own Esignal yet no patent licenses for Quotrek), Quest, Strategic Allies etc. Always a fresh group of people willing to believe new promises and claim others live in the past. Must be 4-5 rounds of new people claiming this already.
Looking at those figures, they must be profitable already or certainly will be in 5 weeks time (£55K in the black (EBIT)) and £374K in the black by March 2013. So they do not even need investment because they can self fund. Something does not add up.
I have to say, even in my near seven year history with WGP and having seen some outlandish projections, these profit projections for the next twelve months are even more staggering from where we are. I would like to point out that the numbers bear absolutely no relation to the memo of two week's ago from the same authors which forecast profit of around £30K. Is it possible those numbers are not in thousands and they mean £38K profit (which would bring it back in line with the memo posted earlier this month)?
Hello SD. Any chance of an update on the circumstances disclosed in the memo you were party to? The dates appear to have slipped but are you aware if it is all still happening as set out in the document or have things taken a different course?
I'm not sure it matters who Cityboyz is as the comments he has made appear to be remarkably accurate given he disclosed the Sports Media and ATL Funding situations some time before anyone else knew about it. Granted, it would be interesting to know who certain people are in here and who their sources are. If he has a lot of knowledge about WGP, I am happy that he shares in here provided it is legitimate information. It is hardly his fault the majority of the news is bad.