Member Info for MB10

I see some are trying to rewrite history (again). Sure the O2 was cancelled last year, but you need to show the context of that. The lesson from O2 last year was that you need SBS in order to secure quality acts. This was being done at a time when DC was trying to influence the costs of SBS, having been stung by the high costs of the 2nd day at Frankfurt. That led to a very poor selection of minor acts put forward, with not much time in advance of the festival, so the ticket sales looked poor leading up to the event. Then the itewon tragedy hit and they took the (correct IMO) decision to cancel. Even if ticket sales had been doing well it would still have been right to cancel.

The lesson from the O2 cancellation this year is that you need to get the quality acts and the full line up out much earlier if you want to sell the tickets. The format isn’t established enough yet that momentum and brand will sell the tickets without the acts being announced. The delayed funding of the festival meant this was left to the last minute and for some reason even after that late notice, SBS were dragging their feet with releasing the line up. It was clear speaking to anyone in the company how frustrated they were with that (and anyone going back over the posts on here were equally frustrated), so while it’s easy to just level all the blame at DC’s door, some of that is also down to SBS.

Bottom line is if you source good quality acts that the fans want to see, advertise the full line up well in advance, arrange the format so that the fans get to see enough of their idols and don’t feel short changed, then the festival will sell out and lvcg will make a good profit. That’s what’s being promised for future festivals.

Two clues to this suedee. Firstly in the presentation forming LCSE it says:

“Staging World Rally Cross in Cape Town, moving to electric vehicles in 2021

Revenue being generated from sponsorship, ticket, hospitality, exhibition and merchandise sales”

Secondly there’s a clear link to it here.

https://www.engineeringnews.co.za/article/all-electric-fia-world-rallycross-championship-heads-to-cape-town-2023-08-29

World RX of South Africa is organised by the same team that brought the FIA ABB Formula E Cape Town E-Prix to Cape Town in February.

“I am delighted to announce that we are bringing another World Championship Motorsports event to South Africa,” says World RX of South Africa chairperson Iain Banner.

“This time none other than the fabulous all-electric World Rally Cross, to be staged over two days, at Killarney race circuit. 

“With drivers like World Champion Johan Kristoffersson and the Hansen brothers, we can look forward to an incredible weekend of World Championship racing. 

“[This will be] a stunning ‘next-up’ after our Formula E Cape Town race in February this year.”

Looks like that world RX events in Cape Town is being run by LCSE. There was a crowd of 27,000 last time.

Pity the company can’t be bothered to say anything about it.

Likely at the October FIA meeting.

Iain Banner interview confirms he is working towards that. It’s clear that the drivers and the teams felt that Cape Town was a brilliant venue.

https://www.youtube.com/watch?v=PBUD1b00_2s

Worth noting that Banner has been successful in getting the World Rally Electric Championships to South Africa on 8/9 Oct 23. He is very well connected in the motorsports world.

https://www.goodthingsguy.com/sport/motorsport-fans-of-sa-are-overjoyed-that-world-rally-is-back-in-cape-town/

That was false when it was posted and you know it. Stop trying to twist the facts to suit your miserable trolling existence.

There’s a difference between pessimism and trolling. I think you know the difference.

……

Like me, I suspect that the reason people are really disappointed with London being cancelled is because it would have propelled them well into profit this year and marked the start of the big turnaround everyone was hoping for. After 4 years of covid and building this new division, everyone is impatient for that. That’s going to be a longer wait now.

Finally to clear up some points, I did post since London was cancelled, briefly, but I’ve been massively busy over the last two days and this is actually my first chance to properly gather my thoughts. I can’t delete anyone’s posts (wish i could sometimes) that’s for admin, so if people have posts deleted admin must have thought you broke the posting rules (hint: libellous and abusive posts will get deleted, and I know the company watch this site closely and contact admin). I’ve seen plenty saying I’m DC’s mouthpiece, those who actually know me know that’s absolutely not the case, plus I really don’t like the guy (think he’s an arrogant narcissist borderline sociopath, who’s communications skills are awful), so that’s hardly a good starting point to be his “mouthpiece”. Finally the accounts must be published by the end of December to meet the deadline for AIM regulation. I was expecting last week, and I know they were still working to get them done. I agree with simple (it’s almost becoming a habit) they need to get it done and get trading resumed, then people can make up their own mind. If they company can clear up the way ahead, especially over the next few months, in the accounts statements, then so much the better.

Surprisingly I find myself agreeing with simple #shocker Cancellation of London has caught everyone by surprise I suspect, me included, but you have to put it into perspective that London is only one part of the KPOP division and only one part of the whole company. There will be cancellation costs (the venue was c£270k for 3 nights) but depending on who pulled the plug will depend on who is liable for the other costs. Was it SBS not wanting to proceed with one night less than half full? Did the response in ticket sales to the flash 30% sale influence that decision? Remember the news was reported in Korea first. There’s also the short term loan, but it hasn’t been drawn down in full so it not clear what the costs are or indeed if the private investor is prepared to roll this over to next year? Is this the potential strategic investor that DC was on about?

We will have to wait and see what the costs incurred for London were, I predict they won’t be as big as some are saying, so that turnaround won’t look as good for this year now, so it’s going to be a longer wait for that recovery. Like simple, I wouldn’t be surprised if the cancellation costs for London were about the same size as the Madrid profits. Cash was tight so they will need to show how they will bridge to next year and cover their (much reduced) operating costs. I personally think that DC should be getting his wallet out. But with bricklive, LCSE, StartArt and the recurring licence fees, I don’t think it’s the total disaster some are predicting.

Importantly the relationship with SBS seems intact, and there are 4 festivals planned for next year :Frankfurt, London, Madrid and Japan. Plus a possible South American concert. Get the operational delivery right, advertise the bands well in advance (it’s not rocket science), and there should be good profits come from this division next year. Provided they do a charm offensive and deliver the acts the fans want to see, the KPOP loons will buy tickets. My own advice to them would be not to overreach and to scale these festivals to ones that they know they can sell out. Create a demand and a good fan experience and expand from there

…….

It would explain their lack of communications. That recovery is going to take a lot longer if it has been cancelled.

One thing is for sure, I’m not your “mate”.

And I see there’s more nonsense on the ticket sales. Saturday looks well sold to me, and sure Friday isn’t sold so well, but over both nights seems that it’s well over breakeven and at a price that’s well above what they were planning. That’s quite some distance from the “30%” you are trying to claim.

You are welcome to post what you want, but please don’t insult anyone’s intelligence with the whole “I’m waiting to sell my shares for a higher price, but I’m going to troll the company until the price goes up”. act.

As to the company, if they can get to the stage of all the divisions making a profit this year and next as shown by the brokers note, the value of the company will go up. That claim that there are “no barriers to entry in KPOP” isn’t true as clearly shown by Frankfurt that were unable to get any acts for November. It’s the change to the lux format and the involvement of SBS that gives the access directly within Korea necessary to make this a success. It’s clearly taken a while to get to that construct, but provided they build on this, and resolve issues like announcing the acts well in advance (which is clearly what they are going to do for next year by announcing them all by February, 4 months in advance).

Now with 4 festivals planned for next year (Frankfurt, Madrid, London and Japan), if they get to an 85% sold, then the company are looking at well over £5 million profit overall imo. The structure of Japan where birdman put up £650,000 to fund the event and are giving a guaranteed £800,000 profit to lvcg for that event shows what can be achieved.

And you can keep up with your attempts to cast doubt onto the brokers note, but the simple fact is that this was down without the influence of the company. Indeed I know that the company were extremely disappointed that the broker did not reflect what their own predictions are showing for this year and next. If it really was the “paid promotional piece” you are trying to make out, surely even DC would have made a better job ramping it or just dictated the figures to be used. Just shows the nonsense that some come out with.

Dasalus, In response to a question from simple of when I expected the accounts to be produced, I did say “Very soon. Within a week.” I expected then to be produced last week, so it’s disappointing that they are not out yet. The company have gone very quiet, which in the past has been a sign that they are on the cusp of releasing them. I expect they just underestimated just how long getting the auditors to do that final part of the sign off takes.

Irritatingly there’s news they could be releasing, like the change of Frankfurt to the lux format and the bricklive event in Toulouse. Then streaming and merchandising update for London. The interims will be due soon.

They have gone really quiet, which is classic arrogant DC when they have a lot to release, so hopefully they have a run of news planned.

Good to see bricklive live being planned for October in Toulouse.

https://actu.fr/occitanie/toulouse_31555/toulouse-2-millions-de-briques-un-festival-geant-de-lego-va-faire-son-retour_59972581.html

Not sure I fully understand that logic. If they are past breakeven and give a 30% discount on some of the remaining ticket sales then surely they make a 70% profit on those sales instead of 100%?

I think it’s meant to be part of a charm offensive targeted at those fans disappointed by the postponement of Frankfurt, and an attempt to show that the Lux management is different from the flex management and is thinking about the fans. That’s why they announced it on the Frankfurt channels. They probably wanted to limit to to those with Frankfurt tickets, but I suspect that was too difficult to achieve, and how do you verify those who have had refunds?

If that’s the case then it’s a valid strategy. As with all concert tickets, the fans always run the risk of not getting the seats or areas they want, or the festival selling out if they leave booking in case there’s a sale on. Personally I don’t think it will have any impact of ticket sales for future events. The thing that will impact sales is getting good acts and announcing them (all) well in advance.

Further demonstrating your value here. Nice one B ;-)

Bennester the only bully boy on here is you mate. Full stop.

Why am not surprised by the lack of comment and apologies for scaremongering on the fact that strike off action has been discontinued. #shocker

The confirmation statement is a routine piece of admin for every company.

https://www.1stformations.co.uk/blog/confirmation-statement-explained/

Your email from CH and indeed the dates of the filing shows that the CS was filed on 18 Aug as required but didn’t get recorded in the register until 5 Sep. This says more about administration at CH than LVCG.

It would seem that there are some using the CH delays for their own scaremongering. Wonder if they will be as vocal when it turns out (as many have been saying) there’s actually nothing to worry about here. Same with the accounts being late due to the auditors taking more time to look at these (new to them) accounts. Those suggesting there’s some thing sinister may have a big helping of humble pie to eat.