RE: I think I know whats going on,Bake was never part of the plan ...yet29 Mar 2026 11:49
Very wrong. bake identifies as Polish because that is what was needed when GST failed in its MICA app last year. The CASP was Polish so bake had to be polish.
the reason they were tld to halt was because they were still taking trades from other EU countries, which is illegal. so, they were obliged to hald trading for fear of very punitive fines from EBA.
GST aren't going to say they AREN'T applying to BoL for MICA until they have the alternative, whatever that is going to be, is announced... just the same as their announcement of buying finferro and then quietly announced next day that MICA had failed.
they thought they were buying themselves six months of time moving to poland... they got themselves 3 months only.
so now fully expect the bb to be full of 'what if's and 'i think's without any proof whatsoever, in an attmept to either ramp buys on this drop or pushing the price up to get out before the next balls up.
even with this drop, i still expect them to fundraise as, whatever the next pivot is, their cash is now running very low, even switching the Treasury fundraise into general working capital (think of it, to get that same Ā£1.2million now they'd have to issue 9 x the number of shares from that... even with the miserable drop in the value of their bitcoin, it's still 4 x better than the fundraise they will have to do now).
but, with bake revenue ruined for this year they're going to have to raise at least another Ā£2million (imo) and that's when i expect the BoD subscriptions to come in... and, as fundraising will likely take weeks, wonder if it's not already happening (depending on what news expectation BoD have punted). but, at the state of the company now it would absolutely destroy current shareholders... or, at least, that's the fear. and now we've had the news from last week, the raise would have to be criminally low to get it going.
nothing from any government happens quickly. even if poland announced they were going to issue MICA tomorrow, it'd take months to establish and, with the current state of GST, it'd take an age for GST to put their house in order to be accepted. the fact that they're a busted flsh in lithuania, with the offices winding down, what on earth makes anyone think that poland would allow such a shonky old company as GST now to get a licence? the licence is meant to show exemplary evidence of a company providing security, stability and with the financial backing to support any eventuality.
does that really sound like GST, today? maybe 18months ago but not now!
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