Member Info for Silverblade

SS - back in 2015 Krueger valued our 50% share at $1.5m......! If there were no icaan or service provider fees the revenue might be ok - but 1000 registrations with fees it’s difficult to see this making a good investment. Looks like we will find out with SJLs contact with frank!
SJL - if you pick this up - a few days ago about 200 two letter registrations were sold in the adult domains. They were a bit random - but do you think they would be classed as premium sales and command a higher price than the regular $70. About 10m shares traded last couple of days - maybe your managing to pick some up....! SB

There may be a connection to the current sales volume and the trading statement which referred to ‘an extensive release of inventory’ throughout 2021.
In addition to 5k of vip; another 3.5k went through today with good numbers in fit (180); casa (600); yoga (350); wedding (350); luxe (210); fashion (1050); surf (200); garden (200). A lot of single and double digit sales. Let’s hope this is start of a good year here. SB

Further to uniregistrys auction announcement it is worth noting that mmx own 50% of dot country in a JV signed in 2014 with uniregistry. There were no other applicants for the string so there was no premium paid for country. There are 1000 current country DUMs - retail is about $30. Uniregistry have indicated a starting auction price of $300k - not clear if this is for 50% or 100%. Will be interesting to see if mmx look to pick up the other 50% or sell their holding as part of deal. SB

What is with America and trucks - sounds a beast!!!

Points noted on AB - I was hoping we might shift a number of 10 year blocks which would help contribute annual revenue.

Also - I see the whole uniregistry portfolio has less than 300k registrations / and some of the base pricing looks interesting. Wonder if mmx will have a look - might be some good strings there. As you say it might be a good indicator of underlying value at mmx if the prices paid are made public. SB

Nice to hear from you SJL - and I think we mostly agree the settlement was a good outcome for all - and I hope that it rights some of the wrongs for you and your former team at ICM which were put in place back in 2018. The remaining shareholders need to retain the belief that our new team can continue to right the wrongs for our benefit in value terms. It looks like TF is looking to focus on the areas where we all agree are those which will deliver a more focused and simple business model plan.

I hope the market is able to free up some shares at a level you could reinvest / but I guess the fact there is limited availability may bode well for existing investors.
I know you have previously commented on AB sales - just wondered if you had any further thoughts on how many blocks we might be able to shift. It we could do $2/3m in sales / 2021 could be a good year combined with the cost saving initiatives underway.
Oh / don’t spend it all on another motor eh.....SB

Amongst today’s c.8k of registrations - sjl.casa. Nice to see he’s wisely investing some of his settlement.....! SB

Cheers norrab and yes ezzza I managed to catch your posts earlier and alongside SS’s thoughts I think a lot of good points have been made today. Alongside those were some who still question some of the company’s actions and given our history it’s right to have concern until we prove we have the level of governance, accounting and transparency that shareholders deserve - I just hope today was a positive step in that direction and that’s the way I see it.

Bakky - also agree with your thoughts / the company alluded to it - and now that SJL has righted the wrongs made by TH and MS / and I don’t think it was about the $ although that’s just an opinion - I think the business would benefit from his assistance in making us a well run simple to understand acquisition target - although I also think TF has made a good start so far. SB

Today’s announcements should be welcomed. Lots of issues addressed - formal CEO appointment; warranties settled - for me $1m was a good deal to clear it up - the company made it clear it did not see merit in the claim but we need to move into 2021 without baggage and it was clear SJL likely had grounds for further legal action at which point an RNS may well have been issued. TH and MS got no severance - read into that what you will - and the cost savings have started. We have some assets on our balance sheet which require to be addressed - these are likely non cash adjustments / and we should hear more but we know some of the problem strings. We got what we have been asking for - straight talking focused on real sales with a low cost overhead managed by a ceo with direct experience of monetising domain assets - esp the adultbook opportunity. Avoid talk of a dividend unless you’re in a position to pay one. Disappointing share price reaction and a few questions - we still need a permanent CFO, is the buyback still on going, and will we see SJL back as an investor. But this seems a move in the right direction. SB

Agreed davand - the issue is now major baggage - we have never had any official comment from either party - but SJL made it clear he had instructed his legal team to put in writing to mmx his issues over the warranties - and the silence from the business implies it does not judge those actions of sufficient merit to require formal shareholder notification. Interesting week ahead. SB

4th time lucky ezzza / your not wrong there!! Looks like ethos capital made their expected play and bought donuts from private equity Abry after donuts bought affilias last month. That’s got to be billion dollar deal. They will be on the hunt for other registries to fold into their infrastructure / if we stand any chance of being involved we need to start to operate a credible, transparent and straight business with a well communicated market strategy. I hope this week offers some updates in that direction!! SB

Over the last 2 days there have been hundreds of single letter, double letter and single number registrations within larger inventory purchases in law, luxe, porn, sex, fashion, fishing, horse, surf, yoga, casa, beer, garden - with purchases coming through a number of retails registrars - hopefully good revenue earners and interesting the sales are occurring across our portfolio. SB

Few interesting stories recently on domain namewire - whether it’s registrars smashing it out the park (namecheap); surging registrations (dot club); or ongoing consolidation (godaddy, donuts) - the sector is hot.

Given we have heard precisely zero from the business since early November, next weeks anticipated update will be interesting to gauge where we sit with our innovative and profitable business. SB

No problem Ezzza - I thought it was a general comment but like you and others I do look and sometimes comment on CNIC - more so because they are the only other LSE domain stock and I guess we are all a bit green with envy compared to their performance. But I made my investment here so I guess it’s mmx where we should focus. ATB. SB

Points noted Ezzza! Trading update in a couple of weeks will set the tone for the year to come - hopefully in a good way. Whether it’s SJL or otherwise - a new year investor would signal confidence in the business which would also help the rebuild. SB

Are we seriously debating the exact wording of SJLs comments in relation to TF? Without trawling through endless email trails my memory was he volunteered TF in the first instance, accepted he was his own man and not an SJL ‘plant’, and that his operational no frills focus would take the business back to its core which would likely involve shedding DUMs in vip and work and repricing others. That was my take on his general commentary anyway. SB

Same to you for 2021 SS - totally agree with your comments - let’s hope for some sparkle in the rain because investor sentiment here has never been lower - pretty much like the share price. SB

Maybe it’s fincapp who have continued without renewed authority. Either way it should be clarified. SB

My thoughts exactly bakky. Surely we are not back to radio silence on progress and failure to adhere to corporate governance in relation to the buyback recommencing without prior notification. As for the divergence between CNICs valuation and MMX - wow. SB

...007.xxx one of 14 number 2 and 3 digit registrations today! Pity SJLs not around at present - wondered if these are premium sales. SB

Bakky / I don’t think it was a threat. We might not like the way the issue was handled in public, but SJL has been pretty straight with us on most issues. If he believes there has been a breach of warranties / and let’s face it he’s the only one posting here who knows 100% of the content - then he must believe he has a strong case. Of course the company’s position is to admit no wrong doing - bearing in mind this was triggered with the accounting issue which showed incompetence imo and not fraud; and this incompetence is evident throughout the business hence my look into dot London and likely repeated with the warranties. TFs immediate reaction may have been to rebuke SJL - but this position may have altered based on an increased knowledge of the details. Does this issue worry me / yes. We should do everything to avoid litigation against the business unless we have a 100% watertight defence - and based on what we know about our operations that would surprise me - sadly. So for me we should have opened lines of communication with SJL - a few $m to resolve the issue is much more palatable than the damage of court proceedings - and god help us if those proceedings were in the US with their punitive damages system. The business needs a root and branch clean. This may require a full review of our assets and whether the current balance sheet reflects real value - but the mismanagement that’s occurred over the last few years - and let’s be honest stretching back almost a decade - needs to stop. We have started that painful process - let’s see it though to it’s conclusion and see what’s left - which should be a much better operation than the nonsense we have been fed in recent years. SB