Member Info for Super_Mouse

Bonfire appear to have no intrinsic value apart from being registered in the right country. There is nothing online about them being anything to do with cross border payments or B2B of any sort. Can't find any names attached to the company to background check either.

So to suggest they are some sort of springboard to access the European market is somewhat mindboggling. That RNS had all the hallmarks of being rushed out due to the rapidly declining SP and the market seems to have taken it with a pinch of salt.

AHS , poor jibes. I've been invested since the introduction of Jack Bai but frankly I'm losing patience.

Years ago I was involved in ALGW (Alpha Growth). Similar type of set up (although different sector), raises to acquire, it acquired but no one could ever work out the revenue or revenue projections. It kept acquiring more worthless companies from tax havens yet still the SP didn't do anything. As always they would quote the size of the market but we're always somewhat vague on actual numbers. The BoD Comms were equally shambolic and infrequent.

My experience with that is starting to shape up the same here. I'd like a sea change in the quality of Comms here and I don't think I'm the only one.

They've had all year to buy some. Why haven't they?

People throw the 'closed period' thing around very liberally but the windows for compliance are very small.

Having worked for a regulator, I can tell you now they would have done nothing about the pathway announcement at the FCA with the threat of an election and even less when it was announced. That's how government depts work, they hit stasis as their boss is about to change.

So they now automatically has a back log of a couple of months to work through

The only thing that would give me confidence now would be director buys.

On balance you could say that the current intention to buy Bonfire was born out of the confidence in the FCA situation OR the mighty have announced it because they need some back-up story to hang onto because they are not confident in the FCA situation.

They need to show progression and fast. I'm concerned when they make revenue statement around 'in line with expectation' when we have no idea about the expectation.

If the YE numbers are anything less than glittering and lack detail then this ain't going anywhere for years and can be consigned the bin

That's a lovely sentiment. How sweet.

But now low do you keep having to buy in and not see any real progression in a company before you realise that maybe you've made a mistake?

The market doesn't give a hoot about a messageboard for a microcap.

What it does give a hoot about is delivery and revenue. After 2 years the company seems no further on and as Kat has pointed out, much to my chargrin, there is an awful lot of announced but not-finalised things, along with things that seems to have fallen off the radar, which seems to becoming a trend.

You can't deny that and the market is brutal at discluding unrealised potential and valuing in the cold light of day.

Those who think a message board can influence a stock price (unless something seriously insidy is posted and verified) are deluded.

The market decides the validity and value of an RNS, the simple principals of supply and demand.

Unfortunately, as a few have pointed out, today's RNS is half a nothing burger and the market has responded accordingly.

This means the market is beggining to question the ability of the board to deliver their strategy in a timely transparent manner.

A cold reading of today's RNS would have even the freshest amatuer asking , 'How much did they pay' , 'what are the timelines' and whatabout all the other news.

Also, why didn't they raise now when they have found a conditional suitor rather than smash the SP above 1p (as usual) .

They need to massively improve Comms and would recommend an Investor Presentation along with the results to re-establish where they are headed

The only way this company will create any upward momentum is by being transparent about revenues (not just the old 'in line with expectation' BS) and start to provide at least guidance on timelines and who or what Lord Whatisname actually is to the company beyond a name plate

Otherwise the UK markets will just see this as yet another SNG Fintech company that just never seems to deliver.

SP used to be close to 3p when it had nothing going for it. Now it has 'all these things going for it' but can barely hold 0.7p.

What gives

The BoD paid between 50-100k for their shares. Not a bad investment if you know you are going to get paid far in excess of that whatever the SP does.

"If you think they will pay 1.25m for that, you're more stupid than I gave you credit for. Go ahead and try it. Good luck."

Tell me how that differs from what you have read in the RNS this morning ?

As usual, minute there is a very logical challenge the insults come out. Tells me all I need to know

I meant RNSs

Whatever happened to Lord Whatisname?

Why aren't the emails coming from someone that understands how the UK investor markets work.

The minute a CEO starts talking more about the size of the market they are hoping to exploit than the details of their offering or announcement the you have to suspect 'ramp' at play.

Ok, so if GST had a strategy. Why, 2 years ago did they not just go around all their target jurisdictions and set up these blank companies (maybe they (or their mates) did and their are just raising to buy them back) , and avoid millions.

What have Bonfire done in a year that a small origination unit at GST couldn't do?

That's it, I'm today going to register a company somewhere in the UK or Europe that 'Specialises in Electronic Payments'. I'll quickly put in some applications to some government processes (knowing how long they take). All of this will probably cost a couple of grand. You know a bit like Michelle Mone did, may even put a pointless 3 page website together.

Then I'll sit back and be 'aquisitioned' for $1.5m

They are gaining no licences. They still have to be applied for.

Currently what licenses does this company actually have that are not involved or dependant on some labyrinthine government process?

That might give you an insight into why the SP is where it is at.

Answer that question

Go on then Newuncle, what's the significance of the news today.

Some of us have been in this years now so don't give the the old 'building blocks' routine.

AHS - Bonfire was incorporated in March 2023 and doesn't seem to be offering any services let alone an active payment service.

So go figure. A bit like Glindata then.

AHS - All of the steps you mention could have been done at very low cost and didn't need to be bought and could have been done by someone from the London legal office for about £25k, similar to the UK requirements. Hence the need for a UK based director etc.

Maybe they should concentrate on bringing the registered office to the UK