A sniff of reality and it implodes
When did he say this?
At 80p?
60p?
30p
15p
Or today at 0.4p
Why on earth would anyone have faith in JR
Why didn't they buy it a few weeks ago, still for peanuts but when mode and their own reputations perhaps could have been salvaged?
They didn't, and they won't now because if it folds they take the lot for free anyway and don't have to share it with us. I agree they planned ahead, but only for themselves.
So a company that in its own words is winding down operations, can't get funding, has shown it's customers the door and has product nobody wants is going to "see the biggest rise the markets have ever seen". Jesus Christ.
I never understand the comparisons to Argo.
Given the horrific performance over the last 2 years I am not sure they are qualified to "extract value". What the hell have they been up to anyway if they weren't trying to do this before?
But JR and family are behind the CLNs anyway. So any assets will be sold to pay to pay creditors (the rowlands). He can’t loose. Anything of value will disappear into their pockets.
Why sell up and give you some when they can take the lot for peanuts.
Genuine question.
Can you really keep an FCA license if you sell the company, change the name, the HQ, the board, the directors and even the nature of the business?
You're definitely on a wind up. Nobody is this stupid.
From the RNS:
It is a challenging time in the crypto market and the Group has faced considerable headwinds along the way. The Group is looking to restructure by initiating a winding down of the customer operations of its regulated trading subsidiaries and making CVA proposals to creditors of MGL Ltd which cannot currently be settled.
......They can't pay their debs, simple as that. I don't want cheap shares, I wouldn't take them for free because when it's suspended I will have to look at them forever. Any value here will leave via the back door and PI's will get nothing.
The CLNs that need repaying.
Mode share price decreases regardless of what bitcoin does because ultimately nobody uses mode. That’s why they never talk about user numbers. Would take vast sums to make people aware of it.
Absolutely!
What’s not to like, yeah they are broke, loans to repay, literally winding down the business and have asked their few remaining customers to leave but it easy 4 bags from here.
Jokers
Now would be a good time to make note of the clowns that have been ramping this talking of 5p and all that boll***s. Should be ashamed the lot of em.
Yeah, it can easily do 4X after numerous resignations and after failing to get people far richer and smarter than us to invest. No brainer.
Please explain how a company with no money, or customers. Whose main competitors are the likes of Coinbase and crypto.com, who are the industry leader and the other one was plastered all over the World Cup is going to persuade anyone to invest? And to top it all off your product is completely and utterly inferior and your CEOs name is mud? It would be quicker to just set fire to your cash.
#pays to be patient? Really, the patient LTHs here have seen their investment decimated. The next RNS will probably be lights out.
But LCX has 10x the offering that mode does. Their users are probably actually doing some trading.
Until very recently mode offered just one coin. Now it’s what, 4? They are light years behind.
Imagine how much money is needed to get mode on peoples radar, they get zero engagement on social media apart from disgruntled investors. Nobody even knows who they are.
So much BS being posted here.
How is this a bargain when nobody is willing to fund it?
How is it a great product when nobody uses it?
Who wants to get in to business with a man who is best mates with prince andrew?
Nobody is buying this monday morning, they have already bought and want you to buy their shares. Don’t be fooled.
They are probably rich for a reason, and that reason won't be throwing millions at failing businesses.
They quite clearly haven't built anything great. Nobody uses it, nobody will fund it, people don't want to work for it and companys don't want to be affiliated with it.
Even the FCA license is overrated as nobody in the right mind keeps their crypto on an exchange anyway.