Member Info for Rktech

Hi Jiffy
That disclaimer is basically saying that they (VSA) take no responsibility for the accuracy of the prospectus and it's " Nothing to do wiv us guv ".
As such I think we would be wasting our time but It might be interesting just to see if we even got a reply.
Nothing from IR or the BOD and it's the 141m giveaway that has caused this drop.
Why give that amount of equity away at this time ?........just for a paltry £1.1m.
Did Tone Goh just need some extra cash for the Christmas P1-$$ Up.
It's the sort of placing that lifestyle companies do all the time.......put that next to silence and it stinks !!
Nobody could care less about the wiring side of the business or the so called new liquid cooling......that's really old hat anyway.
We're just here for the Fintech and it's about time we got some news about it and not some lame excuse from what is just a shell company being used by Jack Bai because it's already registered, it's really an RTO and we could throw away Tone Goh and the rest of it....it's only the shell that's needed.
Nobody would have minded if they'd given themselves 200m shares for the Fintech but the cash placing was a bad move any way you look at it.
I got no reply from IR or any of the BOD and that speaks volumes.

They haven't done themselves any favours here and that's reflected in the pitiful SP.
It makes me question my own investment and I'm sure it does that to others.
They are low in the trust stakes now and have lost their clean image.
IMO the 4 or 5 was put there to deliberately mislead.
I know this sounds like a deramp but I'm genuinely beginning to think they are taking us all for fools......maybe we are ??

RNS of 28th May regarding collaboration of WiseMpay.

Consideration for the Agreement

Payment for all the software and services to be provided under the Agreement will be satisfied by the issue of 100,000,000 new ordinary shares in the Company ("New Ordinary Shares") to Wise MPay, subject to the approval of the issue of the New Ordinary Shares by the Company's shareholders at a General Meeting to be convened in due course. Additionally, in order for the Company to issue the New Ordinary Shares and for them to be admitted to trading on the Standard Segment of the Official List and on the Main Market of the London Stock Exchange the Company is required to publish a prospectus approved by the Financial Conduct Authority ("FCA"). The Company has commenced preparation of the required prospectus, which will be submitted to the FCA for approval in due course.

The recent placing and prospectus was the " in due course ".
The share capital increased by 241m shares total. The 100m for WiseMpay and 141m giveaway at 1p.
Try reading the prospectus and the latest RNS and it confirms it.

The 100m new shares were included in this placement and were already known about in the public domain.
They were to Jack Bai's company WiseMpay as per the RNS.

point taken........just frustration.
The company takes the P1$$ and so do the mm's.
Oh well..........

And the mm's have decided the price based on nothing very much.
No volume so no rush for the exits for a quick 15-20% ........well not so far.
My best guess looks about right and the drop well overdone.
If the shares are in sticky hands then we might see a slow recovery but no miracles without something positive and soon.

I thought I made it clear that it's NOT days and much as I would like it to be weeks I can't help thinking that the 4 to 5....????
was put in there to deliberately mislead.
It's about time the company cleared it up one way or the other.
They haven't done themselves any favours in the trust stakes with this placing debacle.

it just says 4 to 5........but what.
Not days, so weeks, months, years, decades ??????. ......Enough people have emailed them about this and nothing .......so what are they playing at ??????????

That's it palms and the more you think about it you go round in circles.
My best guess is still just a mate's rate's giveaway to well........their mates.
Also the API expected in 4 to 5...........still had no reply from IR about that one.
This BOD are not big on shareholder comms which doesn't do them any favours.
That aside, the lack of comms could be they're maintaining secrecy for commercial reasons.

There's no telling for sure but as I've said before, I see this as a mate's rate's equity grab........but I could be completely wrong and it's just going to be sold for 10-20%.
Why does the company need this paltry 1.1m right now ????
Jack Bai could have funded that with his own petty cash and if the company is going to do what it's putting on the tin why give away that amount of equity for peanuts.
I'm going for the probability that these placing shares have gone into sticky hands but that's just my best guess.

Bitcoin dropping like a stone ATM.
Was over 20% down.
Maybe coincides with El Salvador adopting it as it's official currency.
Just strengthens the case for a stablecoin platform for regular transactions.

The 4 to 5 comment may just be something that was never intended to be in there.
It's a big document and GST have made gaffes before in their written announcements.
Some think it's 4 to 5 days and looking at the mate's rates placing it may coincide with a sharp SP increase expected.
Why make a placing now for a paltry 1.1m unless it's to grab a big chunk of equity on the cheap ???

Just to make things clear about the Bitcoin throughput, although on average it takes 3 seconds or so per transaction that limits the throughput rate which cannot be changed or improved. When you make a transaction you go into a queue and it can take many days before it's verified by the node system.
The more people making transactions means that can only ever get longer as the queue gets longer

Good find Jiffy.
The paragraph in question is on page 27 of the prospectus available on the company website
I've messaged the company about it and suggest everyone does likewise. 4 to 5 uhhhhhhh what !!!
There's a lot of information in the prospectus about the FCA requirements along with all the usual cautionary stuff that these things require.
The FCA doesn't like Bitcoin as it's so volatile and probably doesn't fit in with how they would like a CBDC to work but all the financial services companies and individuals realise the advantages of Blockchain which is a standalone crypto technology.
El Salvador has adopted bitcoin as it's official currency alongside the US dollar today. Good luck with making that one work.
On average a bitcoin transaction takes 3 seconds which makes it unsuitable for day to day transactions.
One block every 10 minutes forever and that's the protocol, as such it can be regarded as an investment but you really wouldn't use it for everyday transfers and in any case it would soon get bogged down by the low throughput.
As for this placing, well the 100m shares to WiseMpay was already announced and it's the 140m placing that has upset things.
I see it as a mate's rates giveaway to insiders and as such I'm surprised that the cost of such a small placing is over 20% of the total but on the balance of probabilities I would think the shares have gone into sticky hands and I don't think there'll be any sudden churn when they're admitted to trading and the recipients offload them for a small percentage.......I did say in all probability as nothing is certain in this game.

Up on the week and so a good sign.
FWIW I think this stock is undervalued just based on it's potential and the reputation and stated objectives of the BOD.
Fair value is about 3.5-4p IMO and considering this got to 4,5p+ that's not unreasonable.
Getting an API for a new system based on blockchain isn't going to be a formality but I'm sure Jack Bai knows what he's doing and is not here to make a living by using this company as a lifestyle vehicle.
That's for the many unscrupulous and ineffective freeloaders that infest AIM.
Jack is a successful serial entrepreneur and probably a Billionaire already and so I think we are in safe hands there.
A little more communication with shareholders would be appreciated

They may well get a license to trade in Singapore before London.

There's no confirmation that the formal application has been made.
FCA are running slow still for sure or at least in the process of coping with the backlog.
The company aren't saying anything so it's just speculation.

Hope you're right and this is the real deal.

Thanks for posting that wolfie.
Blockchain .com is a crypto exchange ( like binance....etc )
Innovative but GSFintech has a proposed unique blockchain solution to money transfer with a stablecoin..
As for valuations when you see that dogs like UKOG and 88E have produced ridiculous valuations based on hype the question is what would something real , unique and working produce.
Incidentally El Salvador is adopting bitcoin as it's currency and has some half baked plan to try and make things stable on an inherently volatile crypto...........good luck with that one !

Well spotted Wolfie.
They're all into banking/finance and some of their methods are innovative......but none of them are using blockchain.
They all have a license to trade and are essentially conventional insofar as they deal exclusively in FIAT currency AFAIK.
The market is still waiting for GSFintech and the rewards could be massive if they get their act together.........pronto !
In the meantime this stock is proving quite attractive to the 10% P&D merchants but not much else.
Frustrating for all investors but we can expect to keep seeing the false dawns until we get a trading license.