saved me hours of trawling for some of the good posts with his vendetta last night so good to bring all this to front pages again ;)
Good one Purple, on a further Xmas note I'll let you ring on the BELL at the END of the day......havent contravened any posting conduct with that so lets see you get that removed.... ;)
are going to be required when this takes off. Weve seen it can drop 30% on nothing in minutes, can you imagine the spikes and treeshakes to keep the share moving when we have good news! it will take balls of steel to ride this one I think.GLA
Waste of bandwidth matey, you tarnished your rep here with your "kick em when their down!" attitude. No use asking for sympathy and forgiveness now chum, toddle off back to school / job centre / borstal / day release (delete as appropriate.
Volume is low in general terms. Ie volume bought and sold today so far is under 2mill. Its spare change in the gand scheme of things. If there are low availability of shares its going to go up and down like purple11's boxers down the docks on a Saturday night! One thing is guaranteed....it will go up just a fast as it goes down!
SP returning to norm now
you are a tool, nuff said. Filtered.
Betting and gaming via mobile devices is undoubtedly a fast-growing area. Juniper Research reckons the value of wagers via mobile devices could reach $100bn (€75.5bn) by 2017. The casino market is a minority of that figure and the UK is a small part of the casino segment, although 24/7 Gaming does have plans to expand into Spain and Latin American markets. Of course, the underlying revenues of mobile gaming companies are a small proportion of the wagers figure. Isle of Man-registered 24/7 Gaming buys in its casino games from Nexigames and most of the support and marketing operations are outsourced. This means that 24/7 Gaming has limited direct overheads and they should not have to increase significantly as revenues grow. Operational gearing should be high and a large chunk of additional revenues after paying for the outsourced services should drop through to profit once core overheads are covered. One of the more interesting facts in the balance sheet is that there is a deferred tax asset of £865,000, which is in the main subsidiary. To include this in the balance sheet the auditor has to believe that there is a good chance of utilising it in the foreseeable future. This suggests that there is a reasonable chance of 24/7 Gaming making a profit in the next few years but whether it will be enough to warrant the valuation is another matter. The business undoubtedly has potential but it is a question of how much an investor really wants to pay for that potential. It is quite possible that 24/7 Gaming could be worth £79m or more in a few years time but things are unlikely to go smoothly because all companies have their ups and downs. Investing now could pay off but investors will be taking a gamble.
One of the most optimistically valued AIM new issues of 2013 has to be smartphone and tablet gaming company 24/7 Gaming. Mentioning smartphones and their growth around the world, combined with a marketing test earlier this year, appears to be enough to have got a notional market valuation of around £70m prior to trading commencing on 31 July. There was no fundraising at the time of the flotation so there is no firm starting price just a price that the market makers opened with. However, the share price did move upwards over the first day of trading to 54p (50p/58p bid/offer spread), providing a valuation of £79.2m for the company on volume of 37,638 shares. That suggests that investors don’t grasp what stage the company has reached and how much further it has to go to warrant this valuation. The core business WannaGaming provides customers that register on its website access to mobile casino games on their smartphones and tablets. Management believes it has a more cost-effective way of attracting new customers and this is its major unique selling point. WannaGaming is only available in the UK at the moment and it is barely much more than a start-up, although it has been trading for a couple of years. Published figures for the main subsidiary, which has been acquired by the quoted holding company, do not give a clue to the valuation. In 2012, revenues were €48,811 and most of those relate to computer console games publishing with €17,278 coming from the WannaGaming operation. The reported loss was €2.28m. Chief executive Rogier Smits and finance director Marcel Noordeloos have combined annual salaries of €334,560 plus an entitlement for a company car at a maximum cost of €34,800 a year and €14,400 a year respectively. The optimism behind the company’s valuation appears to be based on test marketing results. In the first half of 2013, WannaGaming registered more than 3,000 new players, of which 1,457 placed a wager. The average deposit per player was €314, which management says is higher than average. After €604,000 of flotation costs, 24/7 Gaming has €3.2m of cash – on a pro forma basis. Between May 2013 and July 2013, €772,500 was raised at an average price of €0.37 (32p) a share. Last year, €2.1m was raised at €0.103 (9p) a share, conditional on the admission to AIM. The main use for the cash is working capital and marketing spending, which will help to increase the company’s rate of growth. However, it is realistic to expect more cash to be needed in order to build a substantial business. A share issue, even at a large discount to the current share price, could raise additional cash at an attractive price to the company and limit dilution.