Member Info for Silverblade

Tightest spread i have seen in a long time - selling at 7.725p and buying at 7.83p. Signs are good.....SB

Hucks - we've not heard from him for a while here - but Glasshalfull seemed to quite good at spreading the word on twitter about mmx and investors who attended mello were probably aware of the timescales around updates, progress etc. I think the team will be keen to issue a strong update ahead of next weeks domains conference in the US. If i was being super optimistic, I would say the trading update, FY results and AGM timetable are structured to allow resolutions to be passed beyond the traditional approval of the annual report. We shall see. SB

ram - trading is certainly on the up but i don't think its II's at these volume levels - unless MM's have instructions and are drip feeding into a lager purchase - or sale! Perhaps we have a bigger investor base than we think. Would be really good to close the week at 8p+ and see where next week takes us. SB

you might be right leader - it just seems strange that investors would register tens and sometimes hundreds of thousands of what appear to be completely random domains as an investment. I can almost get the short letter/numbers regs - but the total randoms? I guess i wondered if there was some other corporate use - or the dark web? SB

Looks like the anticipated deletes on .work have started. It will be interesting to see what they top out at - realistically we will see 100K plus deletes from 2019 registrations based on the low renewal rates (30/40%?) - plus 2018 deletes thrown in as well. On the plus side - renewals presumably add decent revenue ($5?) versus the $1/free initial registration - and clearly there was appetite for the domain based on the scale of registrations which have come through in the last 24 months. It would be good to understand what the large scale registrations in .work (and .vip for that matter, .fit also....) are actually being used for - clearly they are not personal use - in which case what value do the registrars see in the domains? SB

I would like to think there will be some decent purchase in the next few days - working on the assumption that the trading update will come out early next week - could be late this week before the team head out to the domain conference in Austin (although only Christa appears to be on the panel discussions to date). Could this be the year we build up to the update with a nice increase, hold onto it, and move up into a better place.....just maybe!! SB

Looks like Harry sees a bit of value in his own domain....sussexroyal.sex! SB

That’s an interesting read 2crazy - blimey what a web of deceit all over a domain name!!! ICANN don’t come out of that review with any morals - but from what I read that’s common behaviour for that organisation. Who knows .hotel might be back on the market at some point - or maybe some compensation paid to reflect what appears to be a very dodgy process. SB

Correct bakky. H1 2018 was $6.4m, H2 2018 was $9.3m - $15.7m full year less $600k prior years adjustment. H1 2019 to date $8.9m - could we do $10m+ in H2 - let’s hope so!! SB

bakky - did you mean $16M? That would equate to a 25% drop from the corresponding period last year. Even with no growth in H2 2019 we would hit $18.2m - which is pretty much where fincapp are. I am hopeful we will be $19m+ revenue, close on $7m ebitda before any write back of the $2.8m .London settlement accounting gain.
Nice to hear from you SJL - oh to be a fly on the wall in seattle.....SB

19p - your going to need to update your poster name! And on the subject of SJL - someone registered icmregistry.adult today!! SB

thanks for the reassuring shareholder hug bakky.....i'm still hopeful - but it does make you wonder. SB

Not sure about mmx, but there's some recent bad news in my share purchase account. Purchases yesterday were 7.5p. Today they are below 7.1p. Small selling volume two weeks before an update - what a share. My crazed investor statement remains valid....SB

..my purchases yesterday are now in the red alongside their other pals. Think I'll stop any more of that nonsense until this constant drip selling and the disproportionate effect it has on the share price passes - although its been going on for a few years now....SB

Domains are up but that does not necessarily = increased revenue last year - but it does look to support a growing renewals base in the coming year etc. As for cash - we will likely have c.$4m following the c.$5m .London payout, plus whatever the business generated in H2 20019 - so lets say we might have $6m, some restricted. A tender offer similar to the last would not achieve much with that amount in the bank - so there may be other options under review - but that might include additional shares in circulation as opposed to less which would be our preference! What should be clear is the intent to introduce a dividend with a timetable and a proposed return - preferably starting with publication of the 2019 accounts in March 2020 with a payout in summer 2020. SB

Sounds familiar! Its now 4 years since TH took over as CEO following the last leadership cull. A lot has changed since then and its fair to say the company has gone through some pretty difficult trading periods in an effort to rebalance its business model. I'm not exactly sure what info can be released in the trading update beyond turnover, cash generation, cash in back, renewals etc - but it would be nice to think we are finally at the point where the communication makes shareholders feel part of the business. SB

I've decided to make some purchases ahead of the trading statement - might be a short in and out - or a longer term hold depending on what we hear end of month. On the basis we are 'trading well' and presumably at least in line with expectations I'm hoping this isn't decision of a crazed investor who is already in way too deep here......SB

Afternoon Hucks. I think there are two key issues here dealing with the business as a stand alone operator. The H1 results show we can generate real distributable cash - although there was auction income kicking around in there. H2/FY 2019 needs to confirm we have delivered over a full year and our business model is now fully working the way we have been advised since Toby took the reins / multi region, sales and renewals focused through the resisters chain with a team looking at how to create added value (luxe, adultblock, data analytics, acquisitions, deal restructuring). This will show the market we can run a proper investable business. The second area is clearly related to shareholder return. With the evidence we are generating distributable cash with no debt or legacy balance sheet trouble - a clear policy on how the business will deal with cash for the next 2/3 years needs to be outlined. Part of the options awarded to the team for accounts up to 2021 relate to cash being generated - with the target at $17/22m range. From memory we did about $2m H1 2019 - do there’s a reasonable expectation for the next 5 half years. If we deliver on these points - and there is every expectation we will - then we should easily be a £100m+ business and that’s without the premium of acquisition pricing being applied - 18p would be a great target! ATB. SB

Totally agree hucks. I'm sure like many I've been here a long time and sooner rather than later i would like to make a return on what has turned out to be quite a long term investment for me. All the signs are positive - and barring any banana skins - we have a great year to look forward to. SB

Huck - whilst domain registrations are a useful benchmark, as we know its the revenue which is important. We know quite a lot of recent sales are either free or low value - which is why renewal rates are critical to yoy revenue growth. For some reason our own web site has not refreshed its domain registration numbers for some time now which it was claimed would be a better indicator rather than the ntld stats pages. SB