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Giles/ Raaydaar what are your views on a realistic timeframe to achieve $100 million market cap? This assumes positive news next month and not based on the delays recently. I assume we would need fees based on AUM of somewhere in the region of $500 million and PE of circa 12?

Decent purchase of 978k just gone through at 1.65

Hi Steve, there were issues today as I complained about the Level 2 missing trades. I also raised the missing RNS’s across a variety of equities and they have issues there two but being replaced with another data feed end of the month. This is the response I got below. It may/ may not explain your issue. I would repost it and see what happens.

‘Due to the power outage that took a data centre offline it would've also caused trades to be missing during the time the data wasn't streaming in to the website.’

Thanks Steve for sharing. Also worth remembering that on the 29th May the director buys were shared on RNS. I had mixed feelings about this at the time as on the one hand it’s good to see they have skin in the game but the size was quite small so it had limited impact and this wasn’t the game changing RNS with a deal most wanted/ expected which was disappointing but the consequence of the buys purely in my opinion was it meant they were unlikely to be able to share any information with regards to real progress/ price sensitive information for a period of time and I thought a minimum of a month. I still have questions on that I would like clarity on. However on a positive note given what GS has told you today that timeframe fits in with my rationale above. COVID obviously has caused delays across the board So they probably took the opportunity to buy in when they didn’t have to but solutions need to be found and they definitely need to provide more details and transparency in the next RNS.

I don’t believe separate managed accounts are dependent on the credit facility and as far as I know you don’t need to fly anywhere (they haven’t indicated to my knowledge) therefore reel them in! More patience required I feel but I hope early next month we shall see some proper progress . Remember GS, Austin, Danny ABC always be closing. I can send GS a Gas mask so he can board the plane at LAX survive the COVID infested plane journey into LHR, laminate the paperwork on landing, sheep dip him in detol and welcome him to Hotel Rambo to serve out his quarantine if that helps! Anyone got a PJ to go get him?

@Ophidian, thank you for the transparency good to know you are still onboard.

I see a lot of positive and negative comments on these boards and some are totally unsubstantiated or when challenged are never explained when asked. I don't think people should be criticised for having a view or asking a sensible question but people should be able to explain their rationale as part of any discussion and when challenged.

Given you rely on technical charting as an aid that is likely to mean your views change with the price action to some degree I would assume? which is perfectly fine and makes sense to me. One line negative comments from some are likely to make people think someone has an agenda but the common denominator the way I see it is the majority of people on here actually want a company to do well and make some money as an investor or trader. There are always sharks in the tank and people need to remember that they can have a discussion with anyone here but have no reason to trust anyone other than themselves as everyone hides behind a username, says what they like, insults people they wouldn't have the balls to face to face and is ultimately a room full of strangers. That said I'm always open to learning new things from considering peoples views positive or negative and reading comments and it is clear some people have useful expertise in a variety of areas which benefit the wider discussion for example you with technical analysis or Giles with his Accounting experience or someone else asking a sensible question. A quiet day but hoping for further news soon.

Hi Ophidian,

Thank you for taking the time to explain that accumulation/ distribution point that was very helpful and appreciated. I will try and give it a go.

I appreciate the bid and offer displayed is often misleading especially when it is very wide. In fact 80% of all the trades I have ever done on any security are getting inside the spread highlighting the fact the real bid and offer at the point you request a quote can be quite different. This allows MMs play games. I think it would be better not to use the mid price to determine if something is a buy or sell and for transparency alone all trades should be declared as an actual buy or sell. There must have been a reason for why they do it using the mid price but its not helpful for traders or investors second guessing half the trades that go through as we read about daily.

Given you say you don't actively trade this am I correct to assume therefore you have a holding and are an investor?

Thanks

Hi Ophidian, not sure if you saw my questions to you yesterday but how can you tell / work out when a MM is long/ short and buy how much? Im interested to know. Thanks

Hi Giles, thanks for sharing your thoughts. To my knowledge people on here haven't identified which Mark Ward is the investor in ALGW so it is hard to know if there are any links to the company or any lenders, prospective clients etc via that route and a bit or research. Given you have a larger holding perhaps you are more in the know that he is haha.

I think a few people wondered why the SP hadn't dropped further with the significant volume of sales on Tuesday but the fact it didn't could support the point you and Ophidian make that the MMs were short and flattened their position. Lets assume someone was tipped off sure the BOD would likely also be privy to price sensitive information and then why would they be able to subscribe to shares at the end of May? It is good to see the director buys but what allowed them to buy in then?

Ophidian - thank you for sharing your comments as well. Out of interest how is it possible to workout when a market maker is long or short when you can't differentiate to my knowledge trades belonging to a PI, II or MM and how did you get calculate the mid price you referenced earlier?. I'm interested to know if you can explain a little it would be appreciated. I saw your comments a few weeks back when you said the MMs were short a few mill back then. Then if they had to cover that short they would have to be buying from sellers and a reasonable volume which would nudge the price up. I assume this massive spread we have seen recently of 15-20% is covering their tracks.

Hi Giles, welcome back, any view on the last few days trading?

I only saw your ICE comment after my last post, good knowledge. However why would IG even bother listing ALGW if it wasn't tradable at somepoint?

JGJ99 - see my post history I mentioned something on this the other week. 6-9 months ago I looked to open a long on IG to get a leveraged position and it was closing only and has been like this ever since (I check periodically). I have seen this before on small caps where they don't want to allow anymore positions to be taken I assume risk/ liquidity reasons. I bet though someone has filled their boots and has just rolled the contracts as they clearly did offer this stock to open new positions at some point. I have experienced being in that position with an existing long position but only able to close it not get more exposure. Given the huge spread seen on this recently day trading is risky if there is little volume or price action as you are likely to be in a loss making position a lot of the time but DYOR. I'm not personally trading this name just sharing my experience and observations with IG given the scenario you have also come across.

Hi Havoc yeah I looked at those and thought the same given the spread and no drop.

Andy 268...Likewise on the 3rd June you said 'going by the trades it looks like our Mark is leaving ?' I challenged this and got nothing back to understand how you even came to this suggestion. I suspect some have simply got bored of the wait and have tapped out to roll into something else and others are taking profits. Movement on low volumes and little news is hardly a reason to think overly negatively.

I agree it is a waste of time and should have been implemented at the start of this Covid mess not now!

Hi JGJ99, I think for credibility alone deals need to be converted asap or momentum will be lost. Covid disruption only goes so far and people are expected to find solutions to problems and technology solves many of these. If these 'deals' are mutually beneficial to both parties and an uncorrelated asset class is attractive when the markets have been volatile then it is in everyones interest to get them over the line. Whilst the Dec RNS was a long time ago and people are rightly frustrated the credit facility isn't over the line yet it was a good insight into what the potential is and what has been going on behind the scenes. This has been reinforced by recent updates etc and their intention to complete these deals. My personal view but DYOR is more patience is required and a period of no news is not the time to panic. Given the recent Director purchases I would be surprised if news comes before the end of the month but I would happily be proved wrong on that. This however doesn't stop people buying more and issuing TR1s as we have seen another positive sign. I think most investors on here have probably taken their position and are awaiting confirmation of news before potentially committing more money and taking more risk. This 14 quarantine rule in the UK is ineffective, hard to enforce but will ultimately lead to people choosing not to travel so I refer back to my second sentence above. Summer this year I expect will be very different as people can't jet off easily on holidays so they will spend more time at work and playing catch up to get things done and get deals over the line and get paid. A period of consolidation at these levels is no bad thing. Some will always be moving money into other stocks expecting news so will inevitably explain some sells.

Exactly Hull. 'Orderly market' comes to mind....lets make the spreads so wide no one wants to trade haha. Effectively the shop is closed when it is like this.

Stay positive andy268 the market often behaves oddly to positive news and the market makers often play a role. Still 11% spread here and I believe many of the investors here are already fully loaded and have taken their seats for the firework show and might explain the lack of frenzy buying recently. This is typical in small caps. The TR1 demonstrates someone else's commitment here which is only a positive sign and well done to them. Worth remembering that on any move higher its inevitable some will profit take and other current holders will see this as the opportunity to buy more and are simply waiting on confirmation real progress is being made with deals signed before taking more risk. It's easy to lose sight of the prize staring at a screen and watching each price movement and doubting your decision making but take comfort in remembering your investment rationale for investing in the first place especially when we have minimal visibility (TR1s the exception) of who is actually buying or selling and why. Stick to what you know and DYOR. As Giles pointed out yesterday I think it was patience is required if you are an investor but agree the waiting and anticipation can be difficult. Given we were at 1.25p at the start of May and now 1.8 a month later that is solid progress.

Hi andy268 I think that is unwise to suggest that when it could be anyone/ separate individuals selling for any number of reasons e.g a trader taking profits to move funds elsewhere. Unless you can provide further details to. support your view??

I hope so bots. The spread is wide enough to drive a bus through...over 16% still but last purchases are printed at 1.91/1.92 so inside the 2p offered. With 400k on the offer at 2p we still need a little more volume to flush these through. PEEL offering 100k @2.1p currently and only 300k traded so far today.

@giles thanks for clarifying your thinking
makes more sense now you assign 500k for separate managed accounts. I hope the size of the first one is a big enough ticket to spread confidence to other prospects and importantly demonstrate Alpha can be trusted with say 75-100+ million AUM deals and incrementally build from there. Just like at the weekend fuel the rocket on the launchpad, strap in, light the fuse and off we go.

Out of interest and on a completely different note anyone got any long spread bets in play? Just curious as I looked a few times over the last 6 months but IG were closing only which implies someone/people are balls deep and retiring their families when this blasts off. Good luck.

That is very true. Best to leave the slippers stateside and head to the meetings with a proper pen and contracts in hand to get the deals over the line. No coughing allowed then!!