Member Info for Sangijuelas1

Holding the line against Nvidia, Google and Intel

https://www.forbes.com/sites/karlfreund/2022/06/30/nvidia-loses-the-ai-performance-crown-at-least-for-now/?sh=7d740d912ec7

I am not saying Revolut was not overvalued but to think of the business it's like a company formed of

Wise
Starling Bank with mortgage lending
Affirm
Freetrade
Coinbase
Getsafe
WeChat

Interview with CFO from February
https://www.mckinsey.com/industries/financial-services/our-insights/going-global-a-conversation-with-revoluts-cfo-mikko-salovaara

Their financial statement for 2021 is due soon.

All the others are on their website.

Going by these if he says they are profitable it's likely gross.

However, they reported a 300% increase of Gross profit in Q1 2021 so remains to be seen

They haven't said they are going to need funding in 2 years.

They have said they have postponed plans to do an IPO for 2 years.

Presumably an IPO would be targeted at a significantly higher value than the $33bn.

In previous years they said they generated decent profit from their customers trading crypto. I imagine that activity has generated more profit over the last 12 months although obvious issues remain in terms of sustainability of such income.

If they get the UK banking licence they will really be in business.

It's like the super app is a Play Store for financial services at a global scale.

Administration is an insolvency process.

https://www.irwin-insolvency.co.uk/what-happens-to-employees-when-a-company-goes-into-administration/

Jco the administrators will have to decide which staff will be let go within 2 weeks of going into administration.

After that the remaining staff will be paid salaries even before the creditors although their redundancy payments would be down the scale of company creditors

robins I have never blown hot and cold.

I was accused of deramping when I correctly predicted that listing on Nasdaq by itself was not going to raise the SP.

I also called out blatant rampers that infested the board with nonsense.

I genuinely believed that much of the science seemed to check out and I was extremely optimistic about what the 0518 results would show.

However, I was very clear once I sold why I did and it was for the exact same reasons the company has failed.

Cash was a critical problem and could easily be assessed from the annual report and the reference to the loan restrictions.

Also 0518 was very disappointing in the Part B results. This made it clear to me that Merck weren't going to be impressed.

I honestly think that they will struggle to get much at all for any of it.

Russky it sounds like OF tried to be flexible by reducing the amount to be kept in the custodian account to $5m but 4D couldn't even manage that.

There's absolutely zero point in being positive here.

The directors have no say in what is going on. The administrators are running the company and will be in the process of deciding which staff to keep on, what other costs need to be stopped and they will be investigating the directors to see if they were trading whilst knowing they were insolvent.

I am happy to take on board all manner of pessimistic views.

The high levels of volatility at the moment makes me think of what Galbraith described in his account of the 1929 crash - the volatility then led on to the massive drops.

I just find Sage difficult to talk to in the way his posts are quite convoluted and you have to spend time breaking them down to address them.

Just can't be bothered as happy with my own thoughts. For example, I hope to find time looking to explore how Graphcore faces challenges from other companies in the portfolio e. g. will their exascale computing solutions be rendered redundant in the future by quantum computing companies like River Lane

One thing I like about the deep tech in the portfolio is their attempts to solve problems in the evolving technologies.

Was looking at Perkbox this morning. Don't seem to have raised since 2019. Wonder if they are profitable?

I don't think the institutional investors like Baillie Gifford or Canaccord do have info that we don't regarding undisclosed valuations.

If they did they would be trading on inside info

A number of the companies have never disclosed their valuations Coachhub and Lyst for example.

Subject to commercial confidentiality

All automated for minimal values.

Maybe there's a seller in the background but still no TR1

14:31:30 411.00 124 Buy* 509.64 A
14:31:30 411.00 122 Buy* 501.42 A
14:31:26 410.60 300 Sell* 1,232 A
14:31:26 411.00 200 Sell* 822.00 A
14:31:26 411.00 28 Sell* 115.08 A
14:31:26 411.20 300 Sell* 1,234 A
14:31:23 411.60 60 Sell* 246.96 A
14:30:52 412.20 300 Buy* 1,237 A
14:30:22 411.80 38 Buy* 156.48 A
14:29:59 411.00 6 Sell* 24.66 A
14:29:59 411.00 35 Sell* 143.85 A
14:24:35 411.40 34 Sell* 139.88 A
14:24:31 411.60 46 Sell* 189.34 A
14:24:31 411.80 113 Sell* 465.33 A
14:23:25 412.60 19 Sell* 78.39 A
14:22:06 413.194 20 Buy* 82.64 O
14:22:04 412.80 321 Sell* 1,325 A
14:15:07 413.22 216 Buy* 892.56 O
14:11:35 413.40 15 Sell* 62.01 A
14:11:20 413.80 26 Sell* 107.59 A
14:10:23 413.98 100 Sell* 413.98 O
14:07:08 414.00 13 Buy* 53.82 A
14:07:08 414.00 211 Buy* 873.54 A
14:07:08 414.00 146 Buy* 604.44 A
14:07:06 413.40 198 Buy* 818.53 A
14:05:16 413.194 12 Buy* 49.58 O 14:04:31 412.60 25 Sell* 103.15 A
14:03:00 412.80 32 Sell* 132.10 A
14:03:00 412.80 50 Sell* 206.40 A
14:03:00 412.80 125 Sell* 516.00 A
14:03:00 412.80 125 Sell* 516.00 A
14:00:13 413.00 113 Sell* 466.69 A
14:00:13 413.00 33 Sell* 136.29 A
14:00:13 413.20 45 Sell* 185.94 A
14:00:13 413.40 33 Sell* 136.42 A
13:58:20 413.80 13 Sell* 53.79 A
13:58:20 413.80 22 Sell* 91.04 A
13:57:12 414.60 39 Sell* 161.69 A
13:57:12 415.40 41 Sell* 170.31 A
13:57:12 415.40 42 Sell* 174.47 A
13:52:55 416.00 46 Sell* 191.36 A
13:51:57 416.40 45 Sell* 187.38 A
13:51:57 416.60 113 Sell* 470.76 A
13:50:23 416.60 22 Sell* 91.65 A
13:48:06 416.40 47 Sell* 195.71 A

I honestly don't know why you bother with Sage Steph.

He doesn't like the stock, is barely invested and is a bit of a gaslighter.

I blocked him a while back as just not interested.

If he's saying it might go sub £3 it may well do. Wouldn't surprise me in the slightest.

But here as with much of the tech sell off the volumes have been low.

I am sticking andvif it goes to **** so be it.

No doubt putting the positive spin on the lacklustre 0518 data was their last attempt to generate a spike in the SP that would hold and enable them to do a placing.

No doubt investors were not prepared to invest in 0518 with a 0% response rate.

If 0518 data was good enough they would have released it months earlier.

I do not believe it magically became available when they released it.

Also it was not normal to wait nearly 18 months to start the Bavencio trial unless there was a problem.

The Merck collaboration was agreed in June 2018 and dosing began 9 months later

April would have made sense in terms of an alert. They had to have $7.5m in a US Custodian bank account by the 1st April as per the restrictive covenant.

If they themselves had failed to comply with the covenant why would they have needed OF to tell them.

It seems like they thought they could pull a fast one and OF wouldn't mind.

Referencing portfolio companies Form3, Thought Machine and Fintech OS

https://www.raconteur.net/finance/banking-as-a-service-is-transforming-the-sectors-staid-processes/

They previously stated that there would be no income from partnerships in the short term, which is typically taken to mean at least 12 months.

It was in the stated reason for raising the share issue limit from 40% to 100%

They are not likely to be investing more in the core companies at the moment. 80% are confirmed as funded for the next year or two.

The cash they are holding is for deployment in earlier stage rounds. They said the other day funding the earlier rounds is the goal with others taking on the later stage ones.

I would rather they kept the cash for investment.

Maybe it is not helpful looking at the price every 5 minutes?

They basically said that they couldn't get funding.

Some paid attention and sold