Member Info for Silverblade

ex-s - it will be interesting to see if there are any large after hour trades reported - if not - it might just be day trader speculation driven by rampers. Still only 10m shares traded - just over 1% - just goes to show what a small feeding frenzy can do to a share price. SB

SJL - well done on the vaccine front, cars and picking up some shares - a good treble in my book. The problem with 8p is its a great deal if you bought at 5/6p; but not so good for those who have been here a while (try 10 years...). I also believe in time we will do better - as frustrating as that wait has become and the capital that is tied up not earning elsewhere - probably makes me a poor investor! As SS noted recently - starting a dividend this year would be a great start to creating some return for shareholders. SB

Hi SJL. And here was us wondering if you had jumped back in with a notifiable interest and a non exec board position and some good corporate news update was on the way!
Interesting comment from Frank given he is looking to sell his gtld portfolio in April....SB

SS - £400K of trades added £25m to the company's market value in a couple of hours. We could be back to 5p in the next hour or so. Funny old world investing eh......! SB

SS - there have been single day runs on the share price previously with nothing coming of it - if its blockchain speculation that would be a bit strange given the lack of any real upside to mmx unless something material has changed. Nice to think there is something afoot this time - lets see. SB

SS - strangely enough the web site links went down last night - and some pages are still not available - I thought it was just maintenance but perhaps not......interesting day ahead. SB

bakky - possibly not the choice language I would have used but its hard to disagree with the sentiment! Remember our great product innovation - luxe. Well its just about to shed more than 50% of its domains......more than 75% down from its high. The only positive contribution I can attribute to our former team was the ICM purchase - and we almost scored an own goal with that as well! SB

Dot London recently confirmed its performance for the year to 31st March 2020. Turnover of £5m – which comprised £1m from sales/renewals (50,000 names @£20 a pop) and £4m from mmx as part of its contractual fee obligation as Registry Services Provider. (This was the $5.1m onerous contract settlement monies paid in Dec 2019). A £1.5m dividend was paid its parent company. They also confirmed the RSP role will be tendered prior to its expiry in summer 2021. I wonder if TH – who is now operating as a consultant – will be involved in the procurement – it is highly likely he was involved in the original deal which goes back to 2014. What a smoking deal the London boys got – never to be repeated. SB

Hi SS - I like to think there is an ongoing fundamental review of our overhead and staff structure. If 98% of our sales are now through our registrar network, and our systems are cloud based - it does allow for a much leaner business. Totally agree on the web site updates / again I hope this is more to do with changes afoot which need to be finalised rather that negligence to update - that said the shareholders holdings should be accurate and they are not - TFs holdings should be on there and major II’s are all incorrect either from increased holdings or % based on reduced total shares. As for dividend - the company needs to clarify what it does with its growing cash pile - I would like us to address the level of partner payments being made - we have dealt with London - but we still pay $2m pa - I hope these deals are also time limited and allow for renegotiation - even a buy out so we have full revenue flow to mmx. London talks should have started. This may tie in with TFs review on our strings in general. But yes a dividend would be a nice move.....!! SB

We closed over 5p!! Appreciate that’s still total rubbish but maybe, just maybe, we’ve turned the corner. I don’t think it would take much to see a decent rise - a combination of investor confidence in the new streamlined team together with a well communicated and easy to understand business plan supported by clear evidence that our numbers are well managed, growing and throwing off distributable cash and we will rerate pretty quickly imo. SB

I think there’s a dim light on in the corner of the room leader...!! I’m just waiting for late March results to see what TF has to say about the year to come / which I’m reasonably optimistic about. Funniest domain registered recently / michaelgoveforpm.horse. Seriously...SB

Good points norrab - every little counts! Joking aside / on the assumption we are now back on track we have a growing cash pile - which is great - but there appears to no share value attributed and as it stands it’s just a cash asset on the balance sheet doing nothing. Given we are clearly cash generating - the board need to articulate their plans for cash that exceeds operational requirements. The on/off buyback seems to be off for now...and SJLs attempt to pick up some shares sub 5p did not succeed - so looks like there is a bit of belief once more and a lack of sells at the current price - might be a different story at 6p - but I do feel we are now due a positive price response to the company prospects - a dividend may be the catalyst. SB

Dr K - if we get a dividend this year and it was 0.5p I’m pretty sure our share price would no longer be 5p! I can’t see that level personally - but I could see half that amount paid out over the this financial year all things being well. That alone would create a share price uplift. Lots of maybes at the moment / but more up than down to look forward to. We sold 500 law domains yesterday / and they have a decent price . SB

If we were able to start a dividend this year and reach a 9p share price end of year - a virtual 100% increase from where we are - that would be a huge turnaround in performance and I would grab that at this moment in time. In the meantime - as much as I’m not a huge fan of buybacks / taking shares off the market at this price makes sense - we have $9m in cash doing nothing and likely growing at c.$600k per month - $12m end of H1 2021 if we don’t spend? Crazy current valuation. SB

That’s a pity. Would have been good to have you back in the team for 2021/22 - once we see the full year numbers in spring with a proper strategic update you might be tempted again - there is good upside here IF the company can focus and deliver. SB

Thanks SJL / I did wonder if TF had retained some from the ICM deal / I guess the company announcing his holdings on formal appointment was correct.

I would support an incentive package with reasonable stretch targets - for all the reasons we know our share price valuation is currently garbage. A CEO should be focused on both strong operational performance and creating shareholders returns either by capital or distributions - linking his remuneration to those achievements.

Talking of shares - how are you faring with your order?! SB

Lol indeed ezzza! Interesting that TF has already accumulated 1.5m options - presumably at zero cost - with no details on the vesting requirements. I’m going to give company the benefit and assume we were not notified because he was not a director at the time. Meanwhile Disher is accumulating at 200k shares per month since November. SB

Evening SS. As it stands I’m not sure what our senior management team comprises. The web was out of date middle of last year and did not even align with the investors conference in sept/Oct which listed new members and changed roles - Yuling was no longer just China for instance (and given the damage we have incurred in China there may be questions over this position) and there was a new US based consultant etc. If we are to have a web site it needs to be accurate - and there are lots of areas where it is not and this should be addressed. TF is possibly waiting to carry out further changes prior to a comprehensive update - late March? It does feel like we have entered 2021 in a better shape than we left 2020 - and with the closure of the ICM issue and what appears to be a commitment to operate a more straight forward quality focused business we have grounds for optimism. It will be interesting to see if SJL manages to pick up his first 20m batch to determine the current liquidity in our stock. Here’s to 2021 eh! SB

SJL - I think we all want to hope/believe there is value here / if we can tidy up the governance element of the business to improve our market credibility, hit $20m revenue this year (which is achievable) with a much reduced cost base - less than $10m for this year again should be achievable- we are going to be generating great free cash flow. That’s going to either make us a good consolidation target / or able to pay out a decent dividend. I like to think ethos capital will be hunting down registries to build a business capable of a large scale IPO - probably within 2/3 years - and there are not exactly many of the scale we could present if we get our act in gear. Interesting times ahead - hopefully positive this time!! SB

SJL - that’s a useful insight into pricing - mmx has been shifting a lot of single snd double digit letter and numbers for the last 10 days - and even at much reduced pricing from the adult domains that’s going to add some decent revenue.
It does look like your brokers are working to fill your first order - funnily enough I was considering adding to my holding following the recent update and confirmation of the settlement - obviously not on your scale - but I am more optimistic than I have been here for some time - and I suspect I may not be the only one. SB