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CDT quarterly report out .
No mention on VELA exercising ( although it’s historical ( up to end sept) but dies reiterate that the agreement was heavily in Vela’s favour ( financially) compared to what the option would be valued at now
Https://s3.amazonaws.com/sec.irpass.cc/2892/0001493152-23-041189.htm
DSFLAT quote”
IF FG announced that QBT had used say £250k of the recent placing to buy ASICs and set up their own Bitcoin Mining operation integrating some of their Methods the SP would Rocket imo “
They’ve still got their burger van (Miner One)with mining kit onboard out in a parking lot in Serbia somewhere …
Method A: pay the overdue electricity bill
Method B: pay the parking fines
Method C: er that’s it …..
Imho QBT should leave mining to someone else ….
Definitely some upward pressure building. Back to 1.25p in old money, which is probably half what it should be right now
23p on bid now
SGSC originally had 1.1billion shares in VELA .
They sold them all around 0.1p+ .
Maybe he hoovered the up on their behalf back down at these levels .
Who knows but there’s plenty behind the scenes playing this one .
It’s a bad deal because they overvalued the put option when it was granted so they have had to state that in their accounts . So the flip side is VELA got a good deal ….although the flip side of that is the shares are in CDT .
But at least they will get the max allotment and it can only go up . $3.25 will be break even on the original investment in SGSC.
In CDTs filings they recognise that the put option was overvalued by $1.5 million .
Therefore VELA had a good deal.
They must just be waiting to exercise when the price is on the turn .
I don’t think the price has to be above $5 to exercise, just that the shares will be calculated at that minimum price hence 972k of shares , being the maximum allowed in the option .
We should see it as a good deal for VELA and a bad one for CDT, which might explain their depressed share price