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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 ….
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