Member Info for phenomenonnick

ontarget - the revenue is up, I guess the P&L will be fairly terrible given the likely abort costs of the reverse takeover, to the extent we haven't be able to lump these on Ptarmigan. It's more about the future than the past - I'm expecting the "more detail" promised, and the upbeat excited tone used I hope indicates that we're going to see some more detail around the plans that holdit has reproduced. I suspect our chairman is intending Sabien to take minority stakes in a number of ventures, with the right to take control of these if they show promise. In that way we can see an early return and avoid the hefty cost of a reverse takeover until we can be sure we've got something that will be transformative. Hopefully the first of these is ready to announce and there will be an outline of the kind of further transactions planned.

Yes. I couldn't resist. Looks like half the market cap is covered by cash, with the other half meaning there's only a £1.5m valuation for the Aeristech investment plus the original boiler tech business. If all they had was the cash and the concept of creating a green tech business it should be higher than this. Hope they have the next deal good to go when the results are unveiled.

Jay I’m not “continuing to quietly dump and there’s few buyers”. My sales have been off market transactions direct to a buyer who’s a known investor. My last open market transaction was a purchase of 100,000 shares on 22 July.

Hi SaigonSally, just thought I'd say that yes I'm still in. I sold two large chunks off market to a known investor, but even after that and the fall Pires is still the largest investment in my SIPP which is the bulk of my investment cash. As AcciesLad says the terrible crypto market in general (and the Yop hack in particular) have hit sentiment towards Pluto and so they've postponed their float. That screwed up my hopes of short term positive performance here. I think we need to hear from the company's broker Tennyson as to their new assessment of value, the old one was too simplistic, and is a year old and a lot has happened to the portfolio since then. There are several gems and we're in that waiting period while the companies in the portfolio mature.

Sorry by “actually exercise” I mean actually sell. How does lse not have an edit feature yet!

Nelson the other point you’re missing is the delay - the last warrant I exercised took four weeks from the day trading commenced until I could actually exercise them in my account, it seems to be a paper process involving the registrars. I’ve had quicker but people aren’t selling instantly.

Acuity certainly is doing well at the moment.

If you mean “have I sold more” the answer is no. That said Pires is still too large a share of my portfolio for a stock I have no real influence over. So I may reduce by another 1m or 2m at some point in the future but I’d like to get a higher price, and will likely sell to another investor directly rather than disrupting the market. I will however probably keep most of my current holding for a good few years, I want to watch the SVV portfolio mature. Particularly keen to see how Warducks and Admix do.

Yes, though he said he needed the funds for something else and would build back a position when he could.

I’ve just sold a chunk myself - the cooling of sentiment towards crypto means we’re back to relying mainly on the SVV portfolio and a slow growth story. Which is fine, but I need to make this stock a normal part of a balance portfolio. It’ll still be my biggest holding, but it’s no longer bigger than everything else combined!

He bought some today.

Sure - I'm BrightGrowS on Twitter

Hello! Yes took a decent chunk in the placing. As you say it's like a mini Pires!

Looks tremendous! Previously no-one interested as 83% owned by one investor. Now much more widely held. This will surely go far higher if the current investment performance continues.

SS - it hasn’t “collapsed”, as the post right before yours says, it’s trebled in a year. It was up 6x and has halved as a lot of the hype has come out of the crypto market. In March Pluto looked likely to make them many many millions. Now it looks like a small number of millions. Still from a £200k investment in December. One that return is banked this will surely go higher.

Skid - the interesting thing is that the multiple depends on the growth rate, what I love about the Drumz model is that it is designed to capture the ratchet effect of boosting revenue and thereby also boosting the multiple. Eg Acuity they bought into on a valuation of less than 3x revenue. If they’ve doubled monthly recurring revenue in a year and can show this is sustainable they’ll easily get double the multiple or more. So double the revenue and double the multiple means the valuation is 4x cost. In under a year! And alone is way over the market cap!

Hi Norfolkian - I don't share your view on crypto but it's certainly possible the next move is down for the sector. Pluto's activities aren't based around holding crypto in the hope it goes up, they're backing projects with real world applications. The Pires stake is worth £2m at the Pluto pre-IPO raise and this isn't reflected in the Pires assets (was £200k at year end). But suppose you're right and Pluto turns out to be worthless. A 10p Pires share price would mean a £15m market cap. With an effective 20% stake in the Sure Valley Ventures fund, if this alone was justfication for the share price you'd need the fund to be worth £75m. That's about a 200% rise on historic book value. With several investments obtaining follow-on funding at this kind of multiple, I'm highly confident this will be exceeded in the coming years. So I do think we're at a point where 10p is a very fair current price and we can get to 20p in the next couple of years WITHOUT the uplift of Pluto and low6 - but if both do well we should get to 20p within months. It's a pension investment for me - if the fast route doesn't work I'm more than happy with the slow route.

Luckyorange - just to say John Mahtani has no warrants, he invested after the fundraising that brought Chris Akers in. I have warrants but I’ll be exercising them in Q2 of next year. I’ve never been in DEV. I bought AAA in the 0.1p placing along with others on Peterhouse’s books but sold at something like 10x so way too early. Can’t comment on whatever else you’re responding too, personally I find this site is vastly better with GedW filtered, no doubt the three filtered messages below yours are all him or his biographer.

Eh? Weird to be sorry you've sold? Why wouldn't I be?

Sorry to hear that Draft. Where's the commentary about finding something in Europe? Their broad policy is European Tech, but in practice they're looking at small UK-based SaaS businesses with global clients.
And Skid - they're looking at stuff which is too small to float and where the management isn't well-rounded enough. They help fix that problem and turn them into businesses that might well be large enough to float, but would be attractive to a host of trade or VC buyers too.
This is a long haul but I'm a fan of what they're doing.

Well it's not me! Annoying to be back at these levels.