Member Info for tbcx

I think I can answer that.

Prospectus to raise funds heavily featured UTXO who put out this statement https://x.com/UTXOmgmt/status/1948815961085141042

CFO leaving before fundraise completed. He also featured prominently in that prospectus.

Most significant of all: structure of forthcoming fundraise (if investors don't pull put based on above) means a wall CLNs to hit issued at 1p = current equity effectively wiped out.

Yes that was the Solana they reported owning in April 2024.

It's been well over a year since then, and in that time they've since released sets of full year and interim accounts that give no specifics re quantity held.

Patxaran 👍

Glad I can counteract his claims.

I don't mind bearish posts at all - but there's nothing worse on here than someone posting misleading statements like he is. Absolute vermin.

Clai has zero operating business, absolutely nothing. No viable income. If they are non-compliant with listing rules, there's your reason.

BMV is a gold miner generating an income from gold. Could not be more different.

As far as main market goes you just need to look at London BTC. They moved from Aquis to LSE. Could not do that without regulatory sign off.

Lol last week he said this was going to 2p, now looks like he panic sold, should make his mind up.

Anyway Clai is a basket case - they forward sold placing shares and did it without a prospectus. There has been absolutely nothing like that here, very misleading to link the two.

Look at other main market companies holding btc - like London BTC - FCA has no problem with them.

In theory yes but varying spreads/liquidity with both trading venues will quickly scupper any returns, that's before considering the stock's general volatility. The gap when it does exist also tends to close relatively quickly - eg when OTC pumps UK side wakes up and tends to naturally follow.

Lots for the FCA to unpick here regarding various statements made and actions taken by the company.

I learned recently one of Ripple co-founders has also invested seed capital in Yellow - could be massive

These guys have form for Friday btc buys, with well over £5m in the kitty could see some action on this front, roll on Fomo Friday

Approval meeting for share consolidation takes place in less than 3 weeks, which probably seems like a long time in the madcap world of crypto treasury stocks but in real world they've moved quickly on this.

Agree and so does market, you can see it naturally falling towards the CLN exercise price. It doesn't really matter what promises a company makes or however it tries to differentiate itself, there is no getting away from fundamental overhang of big discounted share issuance to follow. Just as with your bog standard placings or CLNs, it creates a gravity like situation.

Newsflow keeps coming. More ethereum, more cash, 50% premium with lock in provision, has to be good. Added to £1.45m raised in last month - and they key part for me is all without need for any discounted raise. Directors having real skin in game makes all the difference.

James is doing far more harm than good, the turbo ramping is bad enough but coupled with blatantly misleading statements, makes everything look even more suspect.

Could be like the old days again. And by old days I mean late June.

The concrete information the market has about their btc holdings is that as of last updated they were reducing their btc, not adding to it. Absolutely unique in that regard, only btc treasury listed in UK that has actually reduced btc holdings.

They do appear to be putting money into an altcoin (Bittensor) if that floats your boat.

"No idea how much assets and cash they have left."

-Cash - they raised £1.45m only this month (of which portion will have have been used for crypto treasury)

-BTC: 4.00

-ETH: 711.93

-SOL: 2,200.32

If you do the calcs of those vs market cap will show how comfortably liquid the company is.

Convinced a momentum shift will take place now, fundamentals like this can't be overlooked by market much longer. Being second largest btc treasury in UK has to be key. On an asset basis over last few weeks, we've really seen gap widen between this and smaller players. Amongst wider madness market has overlooked this.

Scale of most recent raise a big demonstration of investor appetite. Including retail too shows good faith, few other treasuries have done that. That is was oversubscribed by 4x - even with early close - will surely show board they can adopt SWC model of future raises at market close price, then nothing stops this re-rating dramatically.

You are correct Rebster408, directors only put in £40k. Worth noting too that was for shares priced at a significant discount to market price at the time plus they awarded themselves free attached warrants.

There has been a lot of controversy building over this.

Where it gets potentially messy for the Satsuma equity is if any of the investment pledges they received were based on misleading information. One way or another they'll have to address it.