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Fairly confident that Mode will be successful in the long term. This requires a long term investment as the company is still early stage and will need time to grow. It is in an exciting Fintech sector and is well regulated with the FCA.
They are making steady progress since listed and now have 4 revenue earning streams:
- Bitcoin trading (volatility in price means more trading which is positive for Mode and more coins may be added this year)
- Payment integration with THG brands
- Bitcoin payroll
- Affiliate rewards cashback (200+ brands now)
Recently funded for the next phase in growth and with Rita as the CEO - I have confidence she is able to steer Mode in the right direction whilst keeping an eye on company expenditure.
The company's market cap currently is very cheap and I will be adding when I have additional funds. A lot of the company shares are held tightly and this gives me additional confidence.
ATB,
JS
Cash Balances ended the year at £4,155k (2020: £5,365). The slight reduction reflects the increase in net cash losses from
operations of £8,134k incurred to continue to grow the business offset by the issuance of share capital in February 2021 which raised £5,741k and gains from Bitcoin treasury trading of £1,105k.
There were some concerns about the delay of Lucyd IPO. This is clarified with today's update and makes perfect sense...
"· Innovative Eyewear has filed an S1 registration statement with the SEC and is seeking to raise US$10m in an IPO to be traded on the NASDAQ under the ticker: LUCY, which it seeks to consummate as soon as practicable given current market conditions."
The company has also reported the below figure for cash and cash equivalents at end of Nov 2021...
$3,543,762
Great to see that Mode has now launched an additional revenue earning product. They are now earning revenues from:
- Partnerships with WeChat Pay and Alipay
- Crypto trading through Mode App
- Bitcoin cashback through payment integration with merchants
- Bitcoin Payroll service
- Bitcoin cashback through Affiliates service
The future is looking bright as they add additional products and services and gain further market recognition.
There's actually many different ways of funding apart from placings. Take a look at the funding facility DVRG have put in place today where the lender can choose to convert each tranche at 40% premium to the last 5 days SP average.
Mode, the London-based fintech behind one of the UK’s most serious Bitcoin banking apps, has officially announced that it is working with BitGo, a leader in digital asset financial services.
This partnership provides peace of mind to Bitcoin investors through Mode’s seamless interaction with BitGo’s custody services.
Mode is a Bitcoin banking app which makes buying and storing Bitcoin – the world’s most popular digital asset – easier than ever.
The Mode app transforms the way current digital asset apps operate, providing a simple user journey, alongside instant Bitcoin purchases, easy GBP funding methods (EUR coming soon), and providing leading Bitcoin custody through its partner, BitGo.
BitGo provides institutional clients with security, custody, and liquidity solutions. BitGo processes over 20% of all global Bitcoin transactions and the company’s client base spans more than 50 countries – including some of the world's largest cryptocurrency exchanges.
In 2018, BitGo created the BitGo Trust Company, the first qualified custodian purpose-built for digital assets. Built on BitGo’s pioneering multi-signature security, BitGo’s custody offering is designed specifically for securing today’s digital assets and carries $100 million USD in insurance protections for assets held in cold storage.
Through BitGo, Mode users will have their own highly secured, individual Bitcoin accounts with full, round-the-clock access to their holdings. Assets will be held collectively across cold, warm, and hot wallets.
Mode is aiming to be one of the first Bitcoin companies to adhere to the same compliance and regulatory standards expected from traditional banks. Mode is working with partners like BitGo to help solidify its commitment to compliance from its inception.
“BitGo was one of the first custody providers to recognise that digital assets required the same security, risk mitigation, and checks and balances as traditional assets. BitGo’s compliance-first approach to the digital asset markets created a natural synergy between us” said Janis Legler, Head of Product and Partnerships at Mode.
Janis added: “Teaming up with BitGo has allowed us to offer Mode users a safe storage solution for their digital assets, while keeping them instantly accessible should they need to make a withdrawal. BitGo’s Wallet APIs have also allowed us to replicate the banking experience from mainstream FinTech apps in the context of Bitcoin, ensuring user privacy despite executing transactions on-chain.”
Pete Najarian, Chief Revenue Officer at BitGo said: “Mode is one of the most highly regarded new companies operating in the cryptocurrency space. Their vision to translate the benefits of digital assets into traditional finance closely aligns with our beliefs of what the institutional market needs. We are pleased to partner with Mode to help build confidence and trust in digital assets.”
Free Association Books Limited have been selling into any rise and they are held by TB's family.
Sad that shareholders are paying for TB's family lifestyle...
From previous chat....
----------------------------------------
RNS is just a formality - no shares have been sold8 Dec '21
As per the RNS, TB is no longer a director of Free Association Books Limited and has therefore no longer an interest in BRH through this company.
It’s a standard notification which is legally required when there is a change of directorship.
However, the company remains a shareholder and holds 4,500,000 ordinary shares, representing 8.61% of the voting rights.
Additionally, Trevor Brown himself as an individual holds 4,141,794 ordinary shares, representing 7.93% of the voting rights.
So in total, FAB Ltd and TB hold a combined amount of 8,641,794 ordinary shares, representing 16.54% of voting rights.
Conclusion -> There is no reason to be worried.
Rather the opposite, it’s good to see that a large amount of shares is being held by one family.
https://www.lse.co.uk/rns/BELL/final-results-wj9xmho7ljscscs.html
Great to see that sales and orders in first 6 weeks of 2022 were more than from the previous year!
Outlook:
· Trading in the first six weeks of 2022 has continued to accelerate and the Group has:
· increased the number of distributors to more than 10
· combined sales and orders for more X-PLOR units than were sold in the prior year
· Production to be increased commensurate with market demand and manufacturing capabilities which are expected to grow significantly.
· The Group continues to satisfactorily progress regulatory clearances in territories outside the United States.
· Development of the next generation follow-on products, the X-PLOR CX and X-PLOR DX, continues to progress well with the expected launch of these products in Q2 2022 and Q3 2022 respectively.
British investment group Tekcapital announces MicroSalt expansion
https://bmmagazine.co.uk/business/british-investment-group-tekcapital-announces-microsalt-expansion/
Great RNS for TEK shareholders and good to see that the SaltMe! crisps are already in 1350/1800 Kroger stores and selling well. Another 450 stores to go to complete the rollout to 1800 stores.
Also exciting news that Salarius has executed its first bulk MicroSalt® order through FXM which should pave the way for future orders.
Good post bluerill and have added some line separations to make it easier to read!
If shareholders had agreed a drinking game beforehand where you downed a pint every time this morning's RNS mentioned the word 'brand', there would a lot of drunk posters here.
THAT WAS NOT AN ACCIDENT in my view. Whether its Scott Greiper's testimonials or commentary from the CEOs, the simple reality here is this: Building a brand, as vague and overused as that term may seem at times, is nonetheless the true golden ticket in this space. And, like any golden ticket, it is rare as hen's teeth.
In fact, it is generally recognised that the CBD/marijuana market has no company yet to achieve anything approaching a national brand presence, with current market leaders like Cannadips opting for almost the exact opposite; ie., developing a regional identity around a (very) limited suite of products (see 'TAAT' as well, though it is obviously years away from any kind of brand awareness along the lines of what I'm referring);
and 2.With that backdrop, today's appointment announcement takes on even more significance. It almost screams, 'You might have thought our rhetoric on this topic was a bunch of blah, blah, but we are dead serious that Chill Brands (there's that word again) can and will be the first true international brand in the CBD/TFN space. THAT'S why we are expanding our product suite beyond any other competitor already;
THAT'S why we have marshalled our cash thus far instead of spunking millions on marketing to date; THAT'S why our product awards are so important; and THAT'S why Scott Thompson has joined our board after 40 years covering the entire matrix (products and processes) of our rapidly expanding universe....'
Aside from the massive upside for the share price on achieving, or even approaching, this goal, take a moment to consider the value implications TODAY of recognising that this is now even plausible, never mind clearly underway. For instance, What value a company's - with among the industry's widest product offerings, which has already decisively penetrated the highest growth sector within it, smoking cessation, with best-of-breed products - INTANGIBLE assets??
For instance, considering all that, does that perhaps shed a different light on the value of CHILL.COM? We don't know what they paid for it, but as Scott Thompson's arrival surely implies, it's worth a hell of lot more today I reckon.
Nice to see some free advertising for Zoetic in the Metro paper...
Number 1 recommended for skincare products
https://twitter.com/JonSavini/status/1486254997423771650?s=20
RGO hold 4.2% directly in Pluto which equates to around £4.032m
Total invested was £1m which equates to a profit of £3m if this goes through.
This is being shorted. Shorts have increased in the past couple of days and especially today.
Below is a rough calculation of what TEK's NAV would be after Lucyd's IPO based on what we currently know and unlisted assets will have appreciated more since 31st May 2021.
Unlisted Assets - As of 31st May 2021 (Half Year Results)
-------------------------------------------------------------------------
Guidant - $22M (£16.2M)
Salarius - $3.64 (£2.67M)
Smart Food Tek - 43,161 (£31.7K)
Listed Assets
-----------------------------------------------------
Bellescura - 17,100,000 * £1.28 = £21.9M
After Lucyd IPO
----------------------------------------------------
Lucyd - $29M (£21.29M)
Cash
-----------------------------------------------------
Assume £3 million cash from recent placing
Total NAV after Lucyd IPO
----------------------------------------------------
£65,091,700 > Share Price = 46p
Use of Net Proceeds ($) -----------$ ------------ %
Inventory ---------------------- 3,902,128 ------- 30
Sales & Marketing------------ 3,902,128 ------- 30
Product Development------- 2,601,419 ------- 20
Working Capital -------------- 1,951,064 ------- 15
Capital Expenditures -------- 650,355 ---------- 5
Total ----------------------------- 13,007,094 ----- 100
Net proceeds from the IPO will be around £9.5 million ($13,000,000) based on the assumed offer price of $5.25.
Use of Net Proceeds ($) $ %
Inventory 3,902,128 30
Sales & Marketing 3,902,128 30
Product Development 2,601,419 20
Working Capital 1,951,064 15
Capital Expenditures 650,355 5
Total 13,007,094 100