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They noted that the RNS for production of models for sagex was very profitable. They were producing 1000 bespoke models consisting of 1400 pieces. Similar size lego sets sell for well over £100 retail.

It was a good event. Tina and Jo did a great job explaining their sales process. Confirmed they had 24 touring sets now, all of which had paid for themselves in terms of rentals (I.e. 100% ROCI), and another 6 in production. Loads of nuggets of info given in future rentals, more content from IPs, and further countries.

Bricklive touring exhibits open at Naples Zoo this week to great reviews.

https://twitter.com/abc7jeff/status/1330165150112952325?s=21

Only took a couple of weeks to move these assets from John Ball zoo where they had been for nearly a year. That’s pretty good utilisation of assets, which generate a gross profit of over 80%. All the signs are that their assets will be fully rented out next year.

With vaccines looking like it will return the world to normal by the spring it means that Bricklive events could get off the ground sooner than expected too.

Didn’t expect that. Their dino sets sold out completely based upon demand from their zoo rentals, so could be a big market here for bespoke sets.

This was already recovering, but with the predicted return to normal by spring/summer they will get back to their bricklive offering too.

Dec is shaping up to be a busy month with at least 8 simultaneous events. 50% of those are global events.

Brickosaurs Israel
Mini Animal paradise Korea
Naples Zoo USA
Brick Live SouthAfrica

Paignton Zoo
Paddington White Rose Leeds
Festive set Luton Mall
Festive set Birmingham

Each to their own. Some people like to comment on things that they are actually invested in and other like to waste their time on things that they are not. Good luck to you barnyards.

Shows that not only is the UK business not going to be affected by the lockdown, but they are a global business and that the demand for their assets even over the winter is there.

These bigger touring sets rent for between £40k and £50k a month and there are almost no operating costs for them so today was probably something over £200k of contracts announced. The assets last for 10 years and are just cash cows.

Interesting comments on Monday’s podcasts that Q1 is already looking good and that they think they will run out of assets to rent in the summer.

Would be worth joining the planned discussion. Some great points from today’s proactive interview came out, especially that they have effectively run out of assets to rent next year. There are already 22 touring sets build and at least another 4 are in production (brickosaurs 2, Tutenkhamun and 2 x Pawpatrol sets) and DC was talking about building another set to meet demand. That should put them well into profit territory next year and that’s without the corporate arms of the business or the exhibitions business taking off again.

I believe everyone has the right to their opinion and to express but I thought some facts may be useful to the discussion with respect to Riverfort. From my analysis of Riverfort, the average price per company across their portfolio has been +36% in 2020. Of that portfolio 58% have had share price increase and 42% have had share price decrease. This portfolio includes Invinity Energy Systems (a vanadium batter company) which is up 105% in 2020 and Jubilee Metals Group which is up 64% in 2020. Riverfort has been the senior debt funder of Jubilee Metals since 2016 and Jubilee recently reported primarily tailings reprocessing revenue of £23.14m in Q3 2020 from a starting point of £1.47m revenue for the full year ended 30 June 2016.

Worth noting this statement from the recent interims

“The Directors have prepared trading and cash flow forecasts for the Group up to and including the year ending 31 December 2024. The forecasts incorporate a number of trading assumptions and show that the Group has sufficient cash to meet its liabilities as they fall due.”

They have taken covid into account, so provided they sign contracts at the rate they were expecting they will be able to contain the build activity they are expecting. Today’s news shows that there remains a demand for their socially distanced compatible products around the world. Zoos and shopping centres are remaining open so this should not affect things even in the so called 2nd wave and If you look in the detail for the South Africa tour, you will see they are using covid safe brick pods so we may see the return of the exhibition business sooner than we expect.

On Close Brothers that took 5 months of due diligence to close the deal and I understand they looked at the cash flow in considerable detail. You simply don’t lend £1.5m to anyone unless there is an effective route to getting it back.

My previous posts have gone as I asked LSE to remove them. I made some accusations and connections that tried to make sense of the falling share price, but what is clear, having spent quite a lot of time researching this more thoroughly, including engaging directly with Riverfort, that I got things completely wrong and made connections that not only had no basis in fact, but do not exist. This post aims to set the record straight.

From my analysis and engagement, I would like to make clear that, in my opinion, Riverfort acted in a professional, ethical and transparent manner with respect to Live Company. They funded the acquisition of Bright Bricks and supported Live Company through a difficult period with additional capital. From further analysis of their trading of the ESA shares they represented a minimal amount of trading compared to overall trading, reported their trades to Live Company and were very accommodating when Live Company asked them to not trade. I believe without Riverfort's funding, Live Company may not have existed today as it would not have completed the acquisition of the Bright Brick assets without financial support from Riverfort.