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Rocker are you overlooking the 90m shares that got issued last week? Now 113m in issue so at 20p market cap would be £20m.
That said the current £10m market cap is half backed by cash, so that's at least as significant as the Blue Nalu investment. Clearly it's a premium to net assets, unusually for an investing company - hopefully justified by the top notch board and the challenge of investing in the sector as a PI. I've got a little bit in here in the hope it's awesome.
Really? From the chart looks like it went from 2.3 to 5.1 - that's less than 100% up given the spread. But I take the point. I'm not that kind of investor though - given the state of the underlying "business" and the track record here the risk/reward isn't for me.
Just checked in here - bought in years ago when it was a £2m market cap with £3m of assets. Sold out months ago at a loss after accepting this thing is just dreadful. Does anyone know whether Optimist is still around? He used to say sensible things, albeit hopefully overoptimistic. I hope he got out without too much pain.
Genuinely don't understand how there's so much irrelevant chat on here for so little activity. Why isn't this like the YOLO board? A comment every few weeks while the stock drifts listlessly.
Come on, all of you. Go find something better to do with your time - there are lots of other stocks on AIM, many of them have share prices that go up! Sell, take the loss, put the proceeds in something that's got a business or is building one.
GLA who remain - you'll need it!
Robert let me have a go at a contrary view on that purchase. It's possible your numbers are right but (eg) the $10m is plucked out of the air, it could be $5m or $25m. We know the average of the acquisitions is a 7x multiple, given this is the largest I think it's probably 7x. That's still reasonably high, but I don't think you're right about plays and popularity going down. There's every chance that it's played weekly in many of the 350,000 churches across the states, reminding the audience of its existence. And remember streaming only overtook physical formats in 2017, it's now more likely that plays are going to be streamed, and that's good for songs that have staying power rather than one off hits that drop significantly.
I've got this in my SIPP, seems a great annuity stream type business. Given the board, there's every chance of them doing well. I'm not expecting anything spectacular, but a steady growth over the coming years.
LB - I think this is the main risk; this share will either get bought by Google or they'll copy the idea. I'm not qualified to judge which is more likely so I've trimmed my holding - but what I've got left is up 500% so I'm happy either way. I do know a guy who set up an AI business and Google bought it 2 years later for $400m so it does happen if BIDS have something worthwhile.
Biggest no brainer on AIM? Really?!
What about eg AEO - on the same turnover they have a similar profit, pay a dividend, and have over £1m of cash with a £2.3m market cap.
Or eg OMIP - a higher profit, £5.5m cash, £9m market cap.
Stacks of better opportunities out there IMHO.
And puzzled by your statement "directors hold 70% .... we need directors buying". Can I suggest that if they own any more than 70% there's probably very little point being a public company!
Henry - yes, or conversely it acts as an incentive not to issue shares. Basically it's an anti-dilution mechanism. If more shares get issued, the price paid by JGO per share falls. To take two extreme examples, if they issued £500m worth of shares the option is automatically the right to buy in cheaply, at a big discount to the share price. If they issue no shares then the option is only worth taking up if the share price soars from current levels.
Sadly you're reading way too much into the date change. The original notice didn't contain any resolutions, as far as I can see. Looks like a screwup. Unfair to blame the company though, the advisers should have helped them sort this.
The problem they have IMHO is they didn't raise enough cash, and the low share price means it's unattractive to issue equity. They're in danger of being stuck at being a bit too small. I think they need to do a convertible loan or something - pay say 8% coupon, and have it convert at a decent premium to the current price, say the 14p relaunch price. Then raise a few mil and buy something decently profitable which can be improved further. Then the share price can recover and further acquisitions can use equity or normal equity fundraisings. Until further news I'm only leaving a minimal stake here.
Bizarre attitude to be glad I won’t see a return on the grounds that I won’t be exercising my warrants at 0.225p. If we exercised you’d have £450k in return for 200m shares. As it is you’ll probably issue over a million shares to get that kind of cash.
Oh well. Instead of propping up this car crash of an investment I used the cash to buy BIDS in last month’s placing instead.
I sold my placing shares because I didn’t like the way the patents start expiring in the next few years. Sounds like there’s a high chance the company will expire first!
It's not a fault, there's no RNS today (yet). Today is the day they trade ex a 24p special dividend and post a consolidation. See either my previous posts or the recent RNS's (from 21 March onwards). For the past few months the old shares were around 25 or 26p a share. A price for the new shares of 26p per old share is 44p per new share, 27p per old share is 66p per new share. So the current price isn't much of a move. More relevant to the future is that as others have said the cash balance is about £2 per share, and there's a bit of a business too.
Quite. They’ve said they’ll return more cash or wind up if they can’t find a better use for the cash and shell. Think this will do well. Especially as the CEO has 10%, interests are aligned with shareholders.
It should clearly be over a pound. I put £100k into the old stock, 95% of which comes back so really it’s £5k at about 30p per new share. I’ve just bought £18k at 78p.
I can’t decide what the trading business is worth. They’re considering selling it. If it’s a positive number the price should be over £2. If negative, well it’s only 20 staff and it can’t cost that much to shut, certainly total overheads look to be under £2m and there’s £9m cash I think. DYOR though obvs. Someone else verifying this from the last results and recent announcements would be appreciated!
Yup as per my last post, this was about 25.5p yesterday. They're now trading ex a 24p dividend and post a 22 for 1 consolidation. So Yesterday's price less the 24p dividend is 1.5p a share, time 22 is the equivalent of 33p a share today. Company is left with about £2 a share in cash and a small but lossmaking research business. Should clearly be higher than 33p. Possibly less than £2 though depending on what the trading business is worth.
The 2014 stuff on here can be ignored - it all refers to a totally unrelated company called 2ergo which used to have the ticker "RGO". It changed its name to Broca, changed its ticker, and RNS announcements stopped appearing under RGO. Meanwhile the current Riverfort Global Opportunities was until Nov 2018 called Paternoster Resources. Its ticker was PRS. If you overtype PRS in the web address you'll be able to see the chat for Paternoster. The RNS page will have RNS announcements too - but note that interspersed with them is news about Prosafe, an entirely unrelated Swedish company.
LSE really needs a better system! In the meantime you would be much better off going to the Riverfort Global Opportunities website and reading the past announcements there, under the Investor Relations tab.
I have a friend who tells me London house prices are grossly overpriced and will fall. Trouble is, since he started saying that, they’ve doubled. Remind you of anyone?!
That said, at some point the prediction becomes true. Nickel’s like a stopped clock, at this rate he’ll be right eventually. Doesn’t do him any good if he’s already lost his shirt on a crazy short, but I do have concerns this is running ahead of itself. I’m selling a bit of my holding - less than half but a large minority.
Thanks nenny. Yup really pleased. Bought more at 5-7p, 19p, and the placing at 12.5p, so my average is a lot higher. Selling a few now though, would be gutted if something went wrong and I hadn't banked a few of the gains. Keeping lots though - I do feel it has a chance of 10 bagging from here as has been said already.