Member Info for Silverblade

I thought we would hear this week - I am convinced we will hear next week. That said, it’s not really good enough that we are guessing as to whether we get an update or not bearing in mind your valid points SS. Take out our major IIs and there are still c.350m shares in PI / smaller II hands - and the current and growing gulf in communications silence is not doing any of us any favours. Toby alluded to this recently and said they were looking at ways to improve this area - let’s hope so - we cannot be the only ones unimpressed with current position / 5 year plan or otherwise. SB

Afternoon team mmx....from what I can see H1 trading updates are a bit sporadic. As you noted bakky we got one in July last year, but 2018 was a no show, and 2017 announced the strategic review. There should be a number of RNS in the next 6/8 weeks - trading update (hopefully); options; AGM; unaudited H1 interims; inaugural dividend. Preferably none titled further acquisition, buyback or strategic review for that matter!! SB

Wonder who bid/picked up Franks portfolio - was due to be auctioned last week. That aside, I don’t see any reason not to expect a decent update - as recently as May all was well which led to the increased buyback. SB

I’m at the point where I have to hide behind the sofa when mmx updates come out.....SB

It wasn’t a huge volume Sunday - about 4K/4.5k - led by 2k work - but they are all contributing - Casa is on a good run, fit, London, law, bits of yoga, wedding, beer etc. Maintains the decent numbers we saw added in H1. Enjoy the hills, heading there myself next week....hopefully not to sulk over the update.....SB

Hucks - suspect if we don't hear tomorrow it might be next week until we hear from mmx (on the assumption there will be an update) - historically they don't usually publish info on a Friday. Pretty decent day if you work in the sales office. Will be very interested in option packages likely to be awarded to management this month versus distributed shareholder returns. SB

Morning Sunday. There was that nice piece of consolidation back in 2018 where we shelled out $40m for ICM…….and we have never really recovered from that! What is really disappointing is our performance so far in 2020 - in Feb we were at 8.5p and heading towards a dividend and then whammo covid_5p, and nothing since - not helped if truth be told by our largest private shareholder baling at 6p which sends out the wrong signals irrespective of his own personal motives. In times of uncertainty, communication/updates/forecasts are key to addressing market concerns - and I think we are all in need of something to provide the reassurance that has been referred to by Toby but has yet to be clarified by the business. SB

Sunday/Hucks/bakky et al. We do appear to be on the same page in the same chapter in the same book. Although it’s not a short novel it’s a game of thrones saga - you don't know who to trust and every season there’s a new twist! I feel your pain Hucks - I often think what I could have done with the money I am down here. It doesn’t make for a great reflection. But I am prepared to wait until at least I get out what I have put in. And that should be attainable based on how the business is now performing. Let’s hope next week is the start of an improvement in our fortunes / literally. SB

SS - for some reason I convinced myself I wasn’t averaging down (don’t get me wrong / I’ve done a fair bit of that in the last 12/18 months) - but instead was buying an undervalued stock which is on the verge of producing an annual dividend and has been recently backed by major shareholders who have purchased shares in a profitable business which has sufficient cash to buy its own shares with no debt. No brainer eh.....SB

Three in row - although one was mine! I've made a few purchases this week in anticipation of a decent trading update next week. Or perhaps working from home for the last 16 weeks has made me lose my mind completely. SB

As ever bakky thats the missing piece - revenue!! That said - if we could shift a few .work we would have two top 10 global gtlds. casa is on a good run as well - averaging over 100 a day. SB

Both last weeks 30k registrations and todays 40k are with Alibaba. I wonder what price the investor for these 'bundles' actually pays per domain - $1? I would like to think we will hear from mmx next week. The £1m spent on the buyback in May would have been a 0.1p dividend for investors - plus what ever was already allocated - 0.13p? That combined would have been a reasonable start imo. SB

Evening gents. If we can show similar growth to the numbers radix quote in that article then we will be good - and despite big (expected) drops in vip - we have shown strong growth in most strings. As we have all noted - our sector and peer group have all indicated a better than might have been expected start to the year - there is no reason to think we will not be in a similar position. Possibly this has been helped by a contribution from our new senior team members - let’s hope so - and there is a clear strategy laid out in the near future on what we can expect from the business in the next 12-18 months! SB

.......it must have been a stellar price as we added .25p without any other trading! Good weekend all, SB

Scotty - before the proposed maiden dividend was pulled in March 2020, finncap (company’s 'house' broker) estimated that the coming dividend would be around 0.13p per share (Based on timings that would probably have been paid out last month following the March 2020 results). That would have cost the company about £1.2m. Since then you would like to think we have generated more distributable cash in H1 2020, but we also spent £1m on the buyback. They may look to offer a small dividend for H1 2020 if our earnings are on track (0.1p?) , plus a special to catch up for the previously postponed 0.13p. But that's total conjecture on my part and clearly not to be relied on. I suspect we need an AGM to ratify this type of issue anyway. SB

Let’s hope it’s not too early in the season to fill your jam jars! I don’t see any reason we should not be able to perform in line with the wider market. I wonder how radix are getting on - they are probably the closest to us in size and scale / albeit not as visible due to their private status / but a good benchmark nonetheless. SB

Morning Hucks. You make a fair point - although I had done a quick review a month or so back and it indicated we have made decent sales in H1 2020 across the business - in % terms. It would be good to get some clarity on actual numbers as part of the results. Some great results coming from others - namecheap registrar has a stellar first half / let’s hope we can show a healthy picture as well. Good day for vip today! SB

Its the end of H1 2020 for mmx. At this point last year we had 1.8m DUM's. Today we had 2.4m (+30%). Our bid spread is almost 10%; and one savvy investor went all in today and picked up 10 shares for less than a mars bar. Sometimes you've just got to laugh through the pain! SB

YHAL - I don't fully agree with the point about low management expectations - at the end of the day previous CE's have been removed even when they were co-founders where there were clear disagreements on company direction. The recent purchasing by larger shareholders shows they do not believe the business is a lost cause - far from it - and that must include a degree of confidence in the management team - who as we know have considerable share options. In relation to not moving forward - operationally progress appears good - it is the core issue about the lack of value for shareholders that concerns us all here - and you are 100% correct that is clearly the critical matter that needs addressing. atb. SB

Morning SS. In many ways its disappointing that so many here are so disillusioned that we are promoting the company to be sold. When I hear talk about an annuity business that's not really the type of business which sounds exciting and growing and dynamic. It sounds like a pension - low risk, safe, plodding along - but ultimately providing an income. Annuities probably still have a place - for a while yet - but most prefer SIPP's, income drawdowns etc. So perhaps the terminology being used itself is influencing the type of business we want to be viewed as. That said, we're not even an annuity stream yet.....maybe this year! SB