Member Info for Rykan

You must be buying then Dweill. If history is any guide you only ramp when you are selling.

Norrab - sounds good on the 1.9m I was just guessing on the 1.8m. Obviously that makes it more likely we will make 2m at year end.

Atb

Agreed SS, also the company now has say 1.8m gTLD names. I'm not going to go through and count up the partnerships etc. I'm just guessing it is about that. The few of us that have had a guess at registration numbers for luxe have all said they would be happy with about 30k. Even if we do 100k names... The total portfolio increases from 1.83m to 1.9m over the next month or so... Or less than 5% in the optimistic scenario.

I know this is pretty simplistic and I know the gTLDs have different rates of return... but MMX is now a portfolio operator where the total names and average revenue per name are what matters.

I'm just as excited as the next person with this launch but reality is, if we are really lucky luxe might push us over 2m by year end, which is only a 10% bump.

Looking at luxe or any of our gTLDs in isloation isn't really a great indicator of the business. Yeah I know some contribute more than others etc. but currently luxe contributes zero and will be lucky to contribute guessing 3% of revenues this year... hardly a buy or sell decision for me.

I've thought for over a year that this was going to be taken over and there was option value in the patents alone.

It is binary the either win the case or they don't. All of the RNS's about the patents this year have been positive. The company earned the patents years ago and in their words have been shoring them up recently.

To me, I give it at least a 90% chance that Alnylam has infringed. I have read comments elsewhere that SLN are going after Alnylam as they are closest to commercializing their products. To me, I would suggest that likely there are other biotech companies in the RNAi space that have infringed on SLN patents.

What ever that is worth I have no idea. Given how poorly the share price has performed this year, I figure it could be at least 2X if it goes ok. But who knows, including me, excuse ramp but given the historical share price it could even by 5 or 6X.

Every month or quarter I have been consistently surprised by the poor share price performance and the fact that Alnylam hasn't taken them over already, given Alnylams market cap and cash balance.

The fact that the FT article was referring to other parties, makes me believe that my above assumptions might actually be correct.

Clearly the share price performance argues against my arguments. However given the liquidity and daily traded volume means that the share price can be moving for any number of reasons. Someone buying or selling GBP5000 worth on the close can slam or ramp the price. Its a bit of a joke.

I am not a lawyer or have any knowledge other than investigating this company of biotech.

Comments welcome

atb

btw, just looking at the registrars within that 157, the vast majority look like brand protection registrations.
"markmonitor"
"nameshield"
"CSC corporate Domains"
"safebrands"
"safenames"

I'd guess the other names registered are also within that category.
So of the 157 registrations, likely none are currently from the .Eth to .Luxe route. So it looks like on nTLDstats the actual registration numbers haven't even started yet.

Thanks Sunday for your and Tobys efforts.

41million is a lot of .Eth identifiers. I guess with 26 million wallets it isn't a surprise. 99,000 registered every day in 2018, that is big.

I would take an average of 99 registered in luxe every day.

If you are in the world of cryptocurrencies and Ether, there are a lot of articles about .eth and .luxe addresses recently. It is probably the extension that has had the most' 'free' and 'positive' marketing by the associated industry.

https://www.reddit.com/r/BlockchainGame/comments/9oz0ea/ethereum_luxedomains_enable_simpler_transactions/

"There are now over 41 million Ethereum identifiers and the momentum continues to pick up steam. On average, 99,000 new identifiers have been added every day in 2018. Many users keep their Ethereum crypto currency in Ethereum wallets - with over 26 million crypto wallets now in use. Demand for user-friendly wallet names is expected to increase as Peer-to-Peer (P2P) and mainstream usage accelerates."

Any news re yesterday's meeting with Toby from anyone?

Thanks in advance...

I don't think it has any connection. If it did it would be far out weighed by a factor of 100s by the movement in the overall stock market.

MMX is not a crypto company it is a company that sells domain names.

Don't get me wrong I am just as excited as anyone else about the launch of luxe, however if we manage to sell 30k luxe names i'll be happy. That would have the revenues far and away more than would of been received if we were selling the names as a luxury moniker. If we sell 100k luxe names that would be an outstanding success... if the revenues were USD10/name to MMX that puts it at say USD1m in luxe revenues.... or about 5% of the total revenues for say next year. That hardly makes us a crypto company. Imho the movement of the value of ETH and its affect on the shareprice of a company selling essentially a payment enabler... would still be minute.

We need to sell say 500k luxe names before one could consider MMX a player in the crypto space, imho. Then revenues would be say a third of next years earnings when sales of premium names were taken into account.

Luxe may give us an upside surprise in names sold. Which is I guess why it has taken on so much interest. Reality is 30k luxe names sold is a great result - based of past gTLD launches and conservative expectations. If we sell more than that all the better.

Obviously individuals were more than willing to pay a lot for .eth names within the ENS.
https://www.coindesk.com/600k-ethereum-name-thriving-auction-market-underway/

at least some one has confidence. The relentless selling for most of the year, has certainly sapped a lot of confidence.

With the court case in December for this patent infringement, the share price down 40-50% over the past year, and with the ex ceo buying a bucket load one would think there was some option like value here. However I thought that a year ago...so wtfdik

It is surprising as the court case is circa 2 months away.

SB/SJL

Whilst I dont disagree with SJL's comments on valuation which appear perfectly reasonable/sensible/conservative.

To conservative, he has used in the latest one a multiple of 14 " $14 MM X 14 P/E divided by 925 MM shares covered into GBP gives a 16p per share exit price". I would note there have been plenty of takeovers at approx 22X in the past several years in the space. I realize SJL has probably used donuts as a benchmark and far more knowledge than me. With rising rates I guess that 22 X should be coming down a bit, but 14X to me seems conservative. I was one of the investors who was optimistic for 20p. Also, as I have bought up numerous times, CNIC/Central Nic trades on AIM with a P/E in the 30s, I personally have never been able to reconcile that with MMX's valuation. Just observations and not a disagreement with the 16p.

I’d also note that it is good news that the largest shareholder clearly wants to sell at a reasonable valuation. What better marketing could we have at current valuation?

One can reasonable expect that the portfolio/revenues keeps growing, every say 6 months the 16p reasonable valuation will be going up to 17p and so on… plus a dividend.

atb

its a public holiday in the US

To me it looks like today's market action was market making 101. On how a market maker makes money on a large(ish) trade.

David

Agreed on the options

As far as likely uptake, only time will tell.

Whether or not luxe is a success in the way they are trying, as far as I am concerned with the current management, I think well done. MMX has these basket of names because of the previous managements supposed algorithms, naming experience etc. That included all of the names from luxe to rodeo to vip.

.luxury has 875 domains. .luxe competing in that space (as previously intended) could of been expected to generate how many sales? A rhetorical question, but most of us private investors would guess, less and with a lower sale price.

I'd imagine most of us private investors will take the blue pill and are a lot happier with the new managements innovative idea, rather than the old managements algorithm and naming experience competing with the 'success' of luxury.

I would hazard a guess that if we manage to sell 4000 domains the company will be better of.

Who knows maybe itll be the preferred way to 'discreetly' pay for porn. In Singapore with their web restrictions, the use of luxe might come in "handy" on a hot humid lonely night.

Firstly, I think the strike price is too low.

However, the last lot they gave themselves in 15 expired worthless... so may be it was too high at the "ambitious" 8.5 share price.

One would hope the current award, which on the surface appears to be similar, will provide some incentive to them to actually get paid out on the options and to actually benefit us poor, long suffering, laguishing etc. private investors.

Are the broker forecasts actually part of the award calc or is that just a rant on the award?

As someone else commented obviously the major shareholder, S Lawley plus others, likely signed off on this award.

Best

In 2015 they issued 32m options to the 'gang' running the company then. Strike price was 8.5 and it was 9% of the share capital. Without seeing the details of the contracts one could guess it is likely in line. The timeline is short and strike price is low but the award isn't entirely unexpected... it's always a shock on aim. Salazar gets paid a fortune. He must work 48 hour days.

https://namebazaar.io/offerings?order-by=%3Aoffering%2Fcreated-on&order-by-dir=%3Adesc A secondary market exists for .eth names... again the list prices to me are higher than i expected. For example Queenelizab.eth is 1 ether or usd400 Not sure anyone has any use for that... but someone bought it and is trying to sell it. There are plenty more that seem irrelevant to me... but I guess not to others which makes a market I guess.

This article was from Oct 17. On the auction process, ether today is over usd400, back in October it was about usd300. If 3.3m ETH were deposited for bids, conservatively usd660m was available for bids (using a conservative usd200 per ether in October 17). Does anyone read this any different? Seems an inordinate amount of potential demand. I would note below that the author has used 1 Eth worth just under usd100. I'm on my phone so excuse, but same point 660m or 330m available for bids. Seems big... really big. Apologies for the different uses of ether values. Best https://cointelegraph.com/news/speculators-jump-on-new-gold-rush-called-ethereum-name-service "The auction system enabled anyone to purchase a .eth addresses of at least seven characters in length. Since its launch over 618,000 auctions have been started, and 3,298,707 ETH have been deposited for bids." "Over the past six months since the launch of the ENS, individual .eth names have auctioned for astronomical sums. Some of the more expensive .eth names have included exchange.eth claimed for 6,660 ETH ($609,000), foundation.eth went for 300 ETH ($27,000), and weather.eth was auctioned for 101 ETH ($9,000)."

below from the www.join.luxe

it is easy to see why this would actually be used, even for those of us who don't own any crypto, the convenience here is obvious. yourname.luxe into whatever you want and its linked to your wallett instead of the 40 non memorizable character/hashes. This is usable innovation. Be very interesting to read the write ups later on domainincite etc.

If we were listed in the US, this would be a massive day.

"As a wallet address:

Step one: The customer buys their .luxe name: eg. helen.luxe

Step two: The customer securely associates their name to their existing 40 character wallet address (0x466f6de23…)

Result: the customer can now send and receive tokens into their wallet by simply using their helen.luxe address

In fact, the registrant can associate their .luxe name to whatever they want… smart contracts, secure servers, etc. etc..."