Member Info for ShearClass

Yep, it’s flying post a $73m funding round - low supply is one element but it’s also very highly regarded if you search the Twitter hashtag, so no pump & dump. Total issued tokens are 300m so even if these were all in circulation the market cap would only just be inside the top 100 on CMC. Amazing that KR1 has 5% of the issued supply!

Having closely followed KR1 since Jan 2018 it's great to see interest really starting to build. What isn't appreciated by the wider market at present is there is a huge moat in this industry; reputation. You can't just jump on the bandwagon of the next big project, more often than not it's done on an invite only basis (I.e. Lido). This is completely different to bitcoin mining, where MARA for example have just thrown hundreds of millions of dollars at new mining machines. KR1 possess a huge competitive advantage over new entrants and as such should be trading at a significant premium to their NAV, as opposed to a discount. I have every faith that we could be looking at a multi billion $ crypto institution in the next few years, as such I'm more interested in holding for £50-100 a share rather than £3-5 (as nice as that will be).

If they convert the full £12m of the first tranche this could end up at less than 1p, it's a real shame and I've no idea what Vlad was thinking, he clearly didn't understand what he was signing up to... So far £3.9m converted and the price has fallen from 7p to 2.4p.

The real killer is the fact the shares are issued at a 10% discount to the lowest closing bid price in the 3 days prior to notice being given + the fact there is no 'floor price'. How can another £8.1m worth of shares be absorbed? I'm watching, but wouldn't touch it until they either replace the financing with something less destructive, or the conversion completes and the price is bombed out beyond belief.

It's certainly not acceptable to not provide updates to the market when material news occurs. When the 10 x Indian trial sites were given the go ahead at the end of March there should have been an RNS notifying the market of this fact, but RM only wants to provide updates that combine about 10 different pieces of news. His refusal to confirm where the P3 is live & how many have been enrolled nearly 4 months after kick off is bizarre and the market is assuming the worst at present. Double bottom in the low 80's looks odds on, below that who knows?

Crikey, a 26% downgrade in target price is severe, share price now below the 200 DMA for the first time since April 2019, those are two significant bearish events to occur on the same day...

Cheers, always like a good dig around a new acquisition, I was surprised to find something like this so quickly, as with a 40/60 split you'd expect hidden gems not barbs... I started a position in INS a few days ago - as with AMYT it's very under the radar, but looks to be a really solid growth company at an attractive valuation. They provide software solutions for FDA filings / compliance - it's a little dry but well worth some research, as that market is only going to grow IMO.

Forgot the 10Q link; https://ir.chiasma.com/static-files/22ad13e3-4ed5-4183-92ea-5a1ad1613377

Worth looking through the 10-Q that was filed today by Chiasma, they have quite a tasty deferred royalty agreement in place, detailed on page 19. Currently showing as a $73m liability on the balance sheet... the crux being that HCR agreed a financing package with Chiasma for $75m in exchange for a low double digit royalty on the FDA approved drug.

Also just spotted this; "If a change of control of the Company occurs, we must immediately repay HCR the total amount actually funded (including unfunded amounts conditionally eligible to be funded) plus a change of control premium, the amount of which is variable up to 95% based on timing and circumstances of such change of control. Accordingly, if the Merger closes (see Note 1), payments up to approximately $126.4 million, inclusive of the change in control premium, will be due and payable at such time."

Just what AMYT needs, another horror show for the balance sheet.

I literally can't believe some of the sh*t that's been written on here since yesterday's RNS. For a start pre Covid there were 79m shares in issue, now there will be 146m, so the 30p level occupied at Christmas 2019 now equates to just 16p...

Of course that 30p level was before the 17/1/20 RNS which stated 2019 trading was below market expectations, nothing to do with Covid, just poor forecasting & lack of commercial execution... at close that day the share price was 23p, which equates to 12p with the subsequent dilution.

Since then you then have to account for the negative market sentiment that has been created by Ciclitera; first off with his obscene salary, then paying himself a £750k 'finders fee' for doing his job (a nice £100k of which is in cash), then this latest stunt which is his most audacious to date. They have ZERO credibility or experience in Crypto or NFT's, it is simply a desperate play on the latest trend.

Ps. NFT Investments have £35m in cash and a market cap of £37m, so their Enterprise Value is £2m, and that is with some reputable people involved. For DC to value his new gig at £7m is just comical.

It's a surprising split of ownership. Chiasma had a market cap of just $164m / £118m at close last night vs Amryt which was capitalised at £358m. So for Chiasma to be getting 40% of the combined entity is quite a coup for them... Where the LSE share price will end up is hard to say, as it depends how the market values the synergies created + the combined pipeline.

Amryt itself was cash neutral for the quarter, so at least it has stability in it's existing operations. The balance sheet remains messy though, a significant equity raise to clear debt & back the pipeline would make a lot of sense in the next 6 months IMO. Good for them though, they need scale to be successful and they are certainly giving it a go.

ICP is fascinating, just like DOT & ATOM before it, KR1 look to have absolutely nailed it with their 2017/18 decisions to go heavy on these projects.

The crux is this; when ICP launches on 7th May, initial circulating supply will be low. This tweet; https://twitter.com/JohnLilic/status/1389871615580704771 suggests it will be around 10%. This means around 46m tokens will be in existence, so at the current price of $288, the genesis market cap will be $13.24b.

The vast majority of supply is held by the Dfinity foundation, exact details TBC. It's very cool to note that KR1 are part of a list of only 22 named investors; https://messari.io/asset/dfinity/profile

KR1 hold 191k tokens, this is 0.04% of the maximum total supply of 469m, but would be 0.41% of the initial supply if it's set at 10%. We are a material part of this ecosystem, although I bet George & Keld are furious that they just missed the seed round in Feb 2017 (for KR1 at least, very possible they personally own some).

Ps. ICP price has risen $16 in the time it's taken me to write this...now up 60% today.

The order book looked strong into close, building on the buy side through the afternoon and very few sell orders present which was in contrast to last Friday. Wouldn't surprise me in the slightest to see a rise back to the mid 90's this week now R&M are done trimming. The logical answer to why they are reducing is that they are rebalancing their portfolio as LIT has risen nearly 50% year on year, although we are still over 25% below it's all time high set in mid 2019, which was before the asset management arm was in existence. Yet some want to wait for better value... good luck with that.

As for the comments on the cost of debt, Patrick Moloney talks about it in the interim results presentation; in their opinion it was significantly cheaper than raising equity capital via a placing with a share price that they believe is materially undervalued. I completely agree with them. It's also an 8% coupon rate + a profit participation in LCM direct investments, together the total cost is capped at 13%. With their direct investments historically returning 78% over the last 9 years, I don't see a 5% profit share as an issue at all.

I must say I find your decision to sell & then try to justify the reasons behind it as really quite bizarre. Each to their own though...

I note that LSE volume at 482k is significantly ahead of Euronext at 383k, clearly value traded is 15% higher in London due to the FX rate. When does LSE start driving the share price?

Had been watching this for some time and took a position this morning. It appears fairly valued vs other newcomers to the market & I like the combination of mining operations + an R&D hub, it creates the potential for a significant company to emerge in the coming years.

Brilliant RNS in every way, this is the way you build a reputation & life long relationships with organisations. It doesn't matter where this stock came from, only a company of significant standing could make such a donation. Unsurprising to see it has gone down well so far in Paris.

Wow, this is an abomination! The other 25% is owned by another LVCG director... how the f**k has this been signed off by the NOMAD? These guys are just leeches, there is no other way to describe such behaviour.

Given that Barclays were the first broker to offer online dealing & only this week became the first to offer quote and deal for KR1, I’m unsure why you would think it’s something sinister. It’ll be something to do with the fact it’s on Aquis, mine also has a zero balance FWIW

Momoni that is a truly ridiculous post of yours. Did you really just compare taking a £300 punt on Cardano with KR1? Do you even understand how this company works? It’s not a crypto trading entity!

“This is all very good BUT the past week has seen the SP go from 582 to 457 we need figures from the company not speculation from shareholders on BB's.”

Ah good old Surfie1961 - I remember you from last summer, adamant that the share price would never get back to £4 (it was £2.50 at the time). Got that a bit wrong didn’t you?

The share price opened this week at £4.37, it then rocketed on Monday & Tuesday to hit an intra week high of 582 before succumbing to profit taking and closing the week at 457, up 4.5%. Nothing like a bit of exaggeration though is there?

Was just about to post the same thing... this twitter thread about LIDO is a great read, although some of it very technical; https://twitter.com/FloodCapital/status/1387918435766751234

Note tweet 16: "16/ Now for the giga brains who invested in Lido.
@paraficapital @terra_money @stakefish @StaniKulechov @kaiynne @RuneKek @cryptocobain @Tetranode"

They missed off KR1 and a few others, a more definitive list is here; https://www.theblockcrypto.com/linked/87761/eth2-staking-protocol-lido-raises-2-million-funding

Currently a 292 x return, absolutely incredible. They are currently in the process of voting to distribute an additional 3% of tokens to new 'strategic investors', so it is effectively invite only. Good luck to Pluto etc getting involved in a project of this calibre ;)