Member Info for MattTheBrave

Probably also worth mentioning that the debt which was rolled from last year now matures at the end of this month, so expect some form of announcement imminently!

*BTB

Ah, but is it a corpse BTM, or is it a going concern which will rise phoenix-like from the ashes with a zillion backhaul contracts, pay back the debt, re-list, and make all the minority shareholders multi-millionaires.....?
(Spoiler alert - it is in fact a corpse....;-) )

I'm not sure I do agree on the dividend. To do this they would have to forgo opportunities or sell some of the tokens they have. I wouldn't be happy with them doing either of these things - I want them to keep focusing their time and resources on what they do best. Plenty of time in the future to pay dividends from a much higher NAV and when the investments they have are reaching something nearer fair value.

..hopefully this is the start of the market beginning to appreciate how cheap this stock is. I also think that the Tasty Trade contribution is going to surprise the market. I'm convinced we'll see £12 this year, and that this will just be a staging post for higher levels.

I think we should also recognise that the stock may have got ahead of itself at £64. Even at today's price, it's valued at 30x which doesn't feel especially cheap. I could see this going back to the £40s.

...the Company still hasn't posted it's 2020 accounts according to the Companies House website. In the first half of 2020 revenues grew by a disappointing 6%, and the Firm made an ebitda loss. Note that this is even before 30mn of depreciation (write-offs) and 40m of interest (some 50% higher than H1 2019). I'm assuming the delay in accounts is not because there was an unexpectedly rapid improvement in H2, and lord knows what happened in 2021! There is only so long that the debt holders can allow this to continue in my view, unless by some miracle, they can start winning huge backhaul contracts (Tyche's argument I believe).

I didn't say I that I didn't resort to name calling. I simply said this was only upon provocation. Hence 'pea brain came after 'moron'. Now I admit my first post was cheeky, but it was supposed to be more of a tease, hence the ;-) at the end. I would suggest your response upped the ante and (perhaps mistakenly) I dived down to your level. I am trying to be a bit better behaved now. BTW, that wasn't our first conversation, so I would politely point out that your post is actually the factually incorrect one, but I won't 'name call' you on that one - just an honest mistake on your part.

And sorry to disagree with your knowledge of 'economics' but if the share is worthless, your economic interest is zero, the same as mine. However, if you're still struggling with this, shall we say 'financial interest'. Perhaps that makes it clearer?

Again, I have to pick you up on your understanding of the english language. Posting something provocative or cheeky, does not imply that the person is moronic. I can assure you that I suffer from no intellectual shortcoming thanks. Yet still you call me that. Like I say, it means you've lost the argument. Looking forward to your reply as ever - make it a good one!

Not that I'm aware of GS. I'm sure they exist, but perhaps not quoted, so not possible to get exposure. Plenty of v. cheap property Investment Trusts in the UK currently, as I believe you're aware...

Thanks Opt - My Stable Coin exposure is in Dollars, whilst my overseas positions ( including shares in US Quoted employer) are unhedged, so I have a fair amount of non-sterling exposure. However, I don't believe I have any skill in forecasting currencies more tactically, so avoid playing in this area.

Gs, you said:"Im guessing that living on wits could end up being a stressful experience when markets crash/ turn nasty." I think you're right on this, but it is possible to hedge a lot of risks, and be highly diversified. I invest in equities, Bonds (corp and gov (UK and US)), mkt neutral absolute return funds, P2P lending, Gold, cash, and Stable coins. I also hedge some of my equity exposure using index futures on IG after a strong run or if I'm concerned. This reduces vol versus a pure equity strategy and will (I hope) provide me with restful sleep after 2024!!!

Thanks Opt - looks like you're applying a very rigorous and well thought through approach - I'm impressed!
Yep KR1 has had a good start to the year, but I was kind of lucky with the start date due to sharp fall in 2nd half of Dec. I'm back to around breakeven on my overall position. The story is that they have a host of positions in yet to float crypto which they get from a mixture of staking, and in return for their professional expertise in launching new coins. The KR1 Board here on LSE are very well informed and keep a close eye on the NAV. Due to some recent new Crypto holdings being launched, the stock is on a discount to NAV of c48%. For me, this, and a diversified exposure to Crypto being chosen by genuine experts in this field is exactly the crypto investment I want, and I will likely add on any further weakness.

I'm still working currently, but planning to retire in August 2024 (I'll be 57) so I'll also need to start living on my wits!!

Possible, yes, but not really feasible. daily volume averages about 1.3m shares. Broadly speaking, if you don't want to move a share price on a given day, you want to be less than 25% of the volume. This will take the be best part of 10 months, and I suspect the effect of selling 25% of daily volume every day for 10 months would still move the price against you ultimately. So, getting the whole lot away for a 3% discount is actually pretty impressive. You often see discounts of 5-10% when selling such a large stake.

If a stock falls a long anyway, and I still like it (ie stock fallen more than any deterioration in the rationale) then I buy more. Then again, my average holding period is probably more than 3 years, so a very different approach to yours Opt. Horses for courses as they say.

Not really clued - you're always going to have to accept a discount when selling that amount of the Company. I think the share price would have fallen much further had they attempted to sell in the market, and ultimately, I think they would have achieved a lower selling price overall.

So the deal all done at 664p. Good to get clear of a long term seller. Might mean a bit of a pause on then share price with letent demand of more than 6% of the company now also removed! We'll see.

Anyone think it was slightly naughty to release the RNS this morning,.....and then an accelerated book build for 6.6% of the Company this afternoon!!!

So we're thinking that this is now a £140m company with a NAV of over £320m (incl MB).....? Seems quite underpriced, doesn't it.......:-))

It means 2 things for me
1. the Group has done far better in H2 than the market was expecting leading to a more than doubling in new Biz
2. They have confirmed that this will offset the run-off of the legacy business, which means the group will actually grow revenues going forwards. This is significant, as the stock is not priced for growth IMV.
I see this now on a nice slow burn upwards.

:-)) Yep, you're right! I had Lloyds in the comp last year (and still hold), Armani this year. Doh!