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Massive, I agree.
They said in the RNS they are profitable. We know that Semnet was making money before and now it is making more.
I believe the reason for the raise was another acquisition that will help get the FCA approval over the line.
The only thing that makes me doubt GST is the current SP and lack of clarity on the GS20 Exchange figures!
Biggest buy signal remains...
LORD WELLESLEY. I doubt he is short of money and you wouldn't expect he'd be working if he didn't think he could add value to a business and make some serious £££.
Kong - I agree with you. It is clear the Coincodex figures are not correct.
But I did like Monday's RNS information on Liminal - I do think that is a big step forward and as they are investing in further technology you would have thought the exchange must be looking promising.
The RNS of the proposed acquisition in November came just over 2 weeks after the RNS of the placing.
If FCA approval was imminent then the company would be mad to place at this level.
So if it is not imminent, then could it be that this placing is to acquire a company that will assist in getting the FCA approval over the line?
These tie ups look really exciting.
https://www.forbesindia.com/article/cryptocurrency/hong-kong-grants-tcsp-license-to-liminals-selfcustody-wallet-platform/84987/1
Https://e27.co/why-liminal-sees-compliance-as-the-way-to-go-for-the-crypto-industry-20230310/
Https://www.ypsilontechnology.com/news
We are not the only firm with a dodgy website...
I'm assuming it's this firm:
https://www.liminalcustody.com/about-us/
Office in Singapore
https://www.coindesk.com/policy/2022/05/31/wallet-firm-liminal-raises-47m-from-elevation-capital-coindcx-sandeep-nailwal-and-others/
Not read every message today been busy. Was out the door at 5am this morning and had a funny feeling something was going to happen today (that said I've felt like that many times before!).
Has anyone put any thought into the big item not mentioned... FCA approval.
Do you think the Q2/Q3 expected timeframe on Easy Send acquisition could also be the expected timeline on FCA approval?
It says something when articles like these are now popping up on my phone:
https://www.ccn.com/news/crypto/us-uk-crypto-stablecoin-reglation-ahead-of-elections/
Come on GST.
Anyone know why there are no trades for the past few hours?
Do you think the share price just has the decimal place in the wrong place like the GS20 exchange?!?
Lloyd - I know you are normally hot on this. Not sure I've seen this before hopefully you can confirm.
Type Angra FX into google. Then click more results from Angrafx.com
Some of the links don't work yet (it comes up with a google 404 error code). I don't think I've seen some of these before and they don't appear on the main website so could be new links coming??? EG 'Importer & Exporter Solutions' and 'Angra Safe Trader'. Below is me copying and pasting the google results. Safe Trader looks interesting?
angrafx.com
https://angrafx.com
Our long-term experience of working with importers and exporters across the world provides a fast, efficient, cost effective service. Angra Ltd. trading as ...
About Us – Angra Fx
angrafx.com
https://angrafx.com › about
We're a dynamic new voice in the forex trading industry. Our global, agile network and international trading platform mean you'll get the best rates and the ...
Contact Us – Angra Fx
angrafx.com
https://angrafx.com › contact-us
info@angrafx.com · +44 207 332 2805 · The Mermaid House, 2 Puddle Dock, Blackfriars, Office 205, London, EC4V 3DB.
Importer & Exporter Solutions – Angra Fx
angrafx.com
https://angrafx.com › importer-exporter
Our long-term experience of 9 years working with importers and exporters across the world is extensive. Our team will look at where we can add significant value ...
COMPLAINTS AND DISPUTE RESOLUTION – Angra Fx
angrafx.com
https://angrafx.com › complaints-and-dispute-resolution
Angra Limited (aka Angrafx) strives to give high-quality service to our customers. It is important for us to know if we do disappoint you.
Angra Safe Trader
angrafx.com
https://angrafx.com › angra-safe-trader
The Angra Safe Trader is a multinational trading platform which meets global regulatory and security standards. There is no need to deal with regulatory bodies, ...
Agree. It has been remarkably stable for a share with this size valuation.
I have a feeling this is finally about to go.
AHS - if the figures on Coincodex are correct then the market valuation is massively out.
Say an average of $500m traded every day.
They will not get 0.2% commission on these trades so if you say 0.1% commission that is $500,000 in commission daily. Could be double that if they get a 0.1% commission for both buying and selling.
That is $182.5m annually.
Our valuation would be well over £1 billion based on that.
IN MY OPINION THERE IS NO WAY THAT THE FIGURES ON COINCODEX CAN BE CORRECT.
The market doesn't either which is why the SP is where it is.
My previous advice from GST IR was that the figures on GS 20 were an aggregate of them and their liquidity partners. That is what I believe is showing up on Coincodex. For the life of me I don't understand why they don't want to share the correct figures.
Another way to look at it is to ask what volume would need to be traded on the exchange to justify our current marked cap.
£20m / (say) 10 PE ratio = £2m
£2m / 365 days = £5,500 / day
£5,500 per day / 0.001 = £5.5m a day
(These figures are cautious with a 0.1% commission fee)
So while I don't think $500,000,000 is getting traded through GS20 every day, do I think £5.5m is feasible to justify the current SP. YES!
Moomins - what did they specifically say?
Noclue - what are you looking at?
Coincodex is showing volume of $563 million in 24 hours.
The volumes on coincodex are coming from the 'exchange' page on the GS20 website, currently for Bitcoin: 272934566.15608376
$272 million
Ah, ok.
At least our volumes have stayed on the coincodex website for some time now, not been taken down after a few days like they were in November.
Just imagine if the volumes stated were actually true! I've still heard nothing back from Tim...
Basil - you would have thought the could grasp percentages too.
The percentage changes on the exchange always has the decimal places in the wrong place...
Https://coincheckup.com/coins/bitcoin/markets
We are on coincheckup as well as coincodex...