Member Info for Silverblade

Cheers henry - The web site notes 'The Great Release' as well - but didn't include a launch day so that's good to know. It does look like we are going to try and sell some of our 'premium' inventory at more sellable prices - and at the same time move to a more realistic pricing model to focus on quality registrations as opposed to low cost, low renewal bulk registrations. Added to the adultblock potential sales pipeline this is good news. The other issue is whether there is an attempt to increase pricing on our current domains - in particular work and vip - to flush out the real value of those domains if they were being sold and renewed at $5 - £10 each. Better to have 100,000 quality regs than 1m nonsense imo. SB

Thanks for the update SJL - as I noted yesterday you are probably some way to your max. 80m total holding with more than 45m shares bought yesterday. Another 4m went through earlier. Interested to see who has thrown the towel in at II level - and if the selling has stopped. Agree with all your points - its about looking forward now - hopefully there is nothing left in the rear view mirror now but it would be good to get all previous nonsense put to bed in an audited set of accounts with proper diligence signed off by Disher.
I also hope your timing is to call the share price at its low - and the recent transfer of shares at this price draws a value line which we can look to build on.
I think there is a degree of optimism starting to show - and I think your investment is a show of confidence - albeit at a price which remains painful for most. I was disappointed when you sold given your insights into the domains business which you shared openly and so it goes that I'm glad your back.
As you say - now its over to mmx - I hope all those investors that have been through the pain here get a little bit of thought from our BoD. SB

Minor noise aside - and subject to any remaining unreported trades - 45.5m shares sold in 6 tranches today (4.7p to 4.78p) - 44m bought in 6 tranches (4.75 to 4.8p). Whoever is selling is taking a hit - Hony would be the biggest loser having bought in at 13p. Did you get more than 20m SJL? If not SJL - buyback - but beyond 31st Dec cut off? SB

Thanks for update SJL. Looks like a bit more activity this afternoon - not sure if it was further purchases or not by you - but someone has likely sold c. 23m today so far - 2.6% - so its either an II exiting just below the 3% threshold - or its one of our long term II's selling. Interesting decision ahead of our results in a few weeks. SB

Just noticed this on the mmx web site on our front page...don't recall seeing it before.....

The Great Release

1/ 827K Names reducing in price
2/ 725K Names moving to Standard pricing
3/ 5K names Reducing by over 75%

When you register its got significant data sitting behind these headline numbers. SB

Let's wait until SJL has his early morning walk in Florida to see if he's involved!! Interesting that we can trade 30m shares in an hour with no impact on share price - and two weeks ago 10m shares traded added 3p......markets eh. SB

Bobat - sorry for the typo. SB

One day Botat....one day...! Good to see a few larger trades ahead of the results later this month - but small scale really - hopefully some positive II activity - or SJL picking up a few more at these prices. SB

Dr K - appreciate this has been your view for some time - but I sincerely hope you are wrong. IMO it would require further significant corporate 'bad news' to erode confidence capable of taking the company to what would be a £30m valuation. Difficult to see this happening given the statements made last year by the new team and the subsequent positive trading update on how the business is performing. In the short term - those that bought in last Thursday are likely exiting as the penny drops. SB

SJL - I hope TF is going to pop his head (and shoulders) above the parapet in a months time at the time of the 2020 results - and lays out a clear road map for the next 12 months and beyond - including the D word. That way I can afford to visit Florida and not just hear about it! Good to chat. SB

SJL - I hope for tigers sake this crash doesn't have the repercussions of his last rather eventful driving incident. Rory is a great golfer - just seems to have never got the early mojo back from when he first burst onto the scene - unfulfilled majors potential - and despite a huge bank balance - that is no doubt why he was back hitting balls...SB

There is a perhaps a reputational risk attached to adult domains in a sale context - but the context would be pretty important. They work for us pretty well as it stands. I see spreadbetting was not actually launched - much like our own dds and budapest... ! Wonder what donuts paid for the four finance related domains - about 4K registrations in total. Prudence would suggest we could pay out 50% of our FCF as a dividend - that would be about 0.3p for this financial year based on what we currently know - possibly more as the year unfolds. That would do me for starters - and I strongly believe would lead to a healthy shift in the share price based on the yield. SB

Not so much ramblings but interesting observations SJL. The most pertinent being - even if we wanted to be sold at a price that was acceptable - are there any buyers out there for our portfolio - both in term of price expectations and the reputational risk you identified ? I don't think - as investors - we can just assume at some point within the next five years we become so irresistible that we get a decent exit. Our plan A should be to operate a simple, well run, low cost, easy to understand and profitable business which delivers a shareholder return. Plans B, C, D etc could feature an acceptable exit if available, diverging parts that don't fit (non performing domains, adult elements which should find a buyer out of the public eye if that is what was required to assist an exit), look at M+A activity once we prove we can manage our own business. There must be a plan developing somewhere behind the scenes?! In other news....looks like tiger might need to borrow one of your fleet...SB

Mickster - I am not gambling on the ability of a dividend to attract new investors - far from it. What I see is an undervalued stock which currently produces cash clearly in excess of its operating requirements; a company which probably should no longer be listed on AIM (which is geared to capital raising); a business which claims to have dealt with its onerous contracts, bad debts, pay offs, settlements with $9m cash remaining and no debt; and which is likely currently producing free cash flow of $600K a month whilst continuing to strip costs. Yes we all want the company sold - and if you're not here for a dividend that's perfectly understandable that's not why I made my investment here either - and agree it was the same for our II's. But how long do we wait. The growing cash on our balance sheet appears to have no value at present - what do you propose - just leave it sitting there in the hope ethos capital think we've become an asset they fancy shelling out $150m for? Spend it on buybacks - it has taken some stock off market - but no impact on share price. Do you think real world ex-dividend pricing works for mmx - look what happened last Thursday - manipulated by day traders with less than £1m stock traded. Do you not think our board of directors owe it to shareholders to consider options to deliver the much referred to 'shareholder value'. Our new CEO and former ICM executive was appointed on the basis of a recommendation from SJL who made it clear distributions were a clear policy of ICM to its (private) shareholders - that thinking may have been considered as part of his appointment. SB

Hi SS - when you put it that way it’s hard to disagree with your thoughts - not that i did I the first place - I think all the points you make are not only reasonable but perhaps given the issues we have had to deal with recently as shareholders we deserve better - I’m just trying to give TF a bit of time but I do accept a CEO needs to show leadership - although TF is new to the position and has limited experience of plc management. This is where I would be more comfortable with strong chairman and non exec support - and that’s an area where we are lacking - that needs addressing. SB

I guess it’s feast or famine communication with mmx SS - TH was all gung ho latterly with media interviews and positive investor meetings - but behind the scenes he must have known the business was in a right mess - and the more we find out the more we know he was in the thick of it. Like you - I would like a clear update - but given the impact of previous updates where we were not given an accurate picture and sold stories which came back to haunt us - i want a straight, honest business update which has been through proper accounting diligence and provides clarity on our direction of travel for the next 12 months and beyond. And that may take TF a bit more time - and hopefully includes a conversation with IIs to get their support for a dividend announced at the time of the results. It’s difficult playing the waiting game / but the positive signs are there. Hopefully end of next month to see what progress is being made. SB

A similar intra day spike occurred last year - but this time it was clearly orchestrated on twitter. Yes some will have lost but others gained - if you want to be part of those games you need to have your wits about you - or stay clear. 13m shares traded yesterday - about £750K - adding tens of £m's to the company value in a couple of hours. It would have been nice to hold onto some of the gains, but alas......SB

mmx have just updated their website to show the updated major shareholders position. Out of 875m shares, 535m (c.61%) are held by II's and Guy E. TF has 750k from his ICM holding. Leaves 340m (c.39%) in the market - although I imagine some of those will be held by II's sitting below the 3% declaration threshold. In present day market cap terms - £27m to II's, £17m to PI's. Yesterdays excitement shows how quickly a share can rise (and fall) on thin trading volume and a lack of liquidity in the market. I wonder if we will see any II's increasing prior to the results. SB

Well played YHAL - out for a profit. Price got close for me - but not close enough. Enjoyed your frank posts. ATB. SB

Under normal circumstances, a cheeky 0.5p rise (9%) would have been a welcome daily result. I suspect those with larger holdings may have found it difficult to offload any significant volume at the 8p peak as per Dr K's advice this morning - but if you did - well done. I also hope no one got too burnt in the process - although there must be casualties over the course of what happened today. Back to our shells for now....SB