Member Info for THGambler

The quarterly update will not show that the investments value has grown like the last one did. Ensi went from around £1 do 70p in the last quarter so will negatively effect our investment value. But I am hoping like Jim there is some more upbeat noises regarding the AZ1656 investment.

Forgive my ignorance but you did say when the trial results came out that there was a $400m deal struck which turned out to be incorrect.

any basis for this Jimmy?
Granted some decent buys gone in

Well that's that then. This will fall back to the lows. Obviously the lack of confidence in the BoD outweighs the news from last week. Will remain invested in the hope that something changes and the MCap gets somewhere towards Fair value.
I'm dumbfounded that a company can announce details of a deal that is more than their Mcap and effectively doubles their investment value and are trading not much higher. Crazy times

I think we have to remember that exercising the put option (Should the merger take place) is at Vela discretion. There could be further upside from this from either:
- we do not exercise the put option and the value of our 8% may be higher than the £4m offered. It could also be less but you would like to think there would be an educated decision on it.
- We do exercise the put option and have £4m worth of shares in conduit/murphy, this may be worth more than £4m over time.

With an Mcap less than £3m this one potential deal eclipses that on its own.

As the SP seems to be going down i have just looking at the investments, (at time of writing)
Current investments Value - £2,801,300
Non Current Investments (SGSC & Aeristech) - £2,700,000
Cash (Estimated until we have the quarterly investment update to confirm the cash made from sales and spent on new shares in ENSI etc) £900,000
Total - £6,411,300
If the put option completes this will look more like:
Current Investment Value - £6,801,300
Non Current (Aeristech) - £350,000
Cash - £500,000
Total - £7,651,300

Mcap currently is - £2,950,000 - Unbelievably undervalued.

Yep! A good return on that investment as well.

That we can agree on. We would hope that following some of the disasters they should conduct better due diligence but we shall see.
I am aware had we a better run BoD the SP would not be down here in the first place but as they aren't going anywhere we should celebrate the wins as much as we call them out on the losses.
Time will tell but happy to stay invested here while the Mcap remains so far below investments and cash balances.

MWE - failing/dud - Failing agreed but not a dud yet. Also £250k investment
GCON/RBBS - dud only a £30k investment
Weshop - dud (9+ year hold & counting. currently the £100k investment is valued at £400k
Aeristech - let's call it success £350k investment.

Question to you, would you rather the £30k RBBS was successful or a £750k investment?

Depends which side of the fence you sit on these things, we can point out the negativity or look at the positives. Just think we have had some positive news why focus on the negative?

Yeah was going to say whilst i agree the BoD could have done better (i have been vocal about this) we have to look at the whole picture. Lets look at the Investments to date:
Mode - £316k Dud (we were actually up in this investment as well!)
CSFS - £350k Dud
SGSC - £2.35m (presumed success)
KNB - £150k success (on a free ride there)
CODE £750k Success (have sold for profit an bought back some as well)
Skillcast - £250k failing
ENSI - £750k success ( have sold share for profit and bought back some)
Igraine - £430k presumed dud but with news on SGSC this may come good?
TSP - £300k complete dud
Ethernicity - £49k average

One thing that is worth noting - All of the larger investments (£750k +) have been successful successful and yielding returns which is much better than having successful small investments and dud large investments!

Overall, should the option be completed VELA will show a positive return on their investments over their portfolio.

they should have around £900k cash right now before the put option. just awaiting confirmation of this.

This won't go up without traders getting out along the way. some would have made 50% already. The facts are there. If they do the deal then that one deal is more than the current Mcap. Awaiting the quarterly update to see what cash we have left in the bank

Agreed there will be a lot of traders hopping in and out of this but the fundamentals remain. If all goes well then Vela will have near roughly £7m or tangible investments and cash.

To put in easy terms. Vela is currently valued LESS than this one deal.

Hi Asia , just done this after the news. For clarity all figures are at the time of writing!

Vela MCap - £3.754m
Total in Live investments - £2.714m
Non Current Investments (to value SGSC at £4m) - £4.35M
Cash - £400k ish (taking into account the 400k for the option)
Total Live and non Current plus cash = £7.464M

So make of that what you will but we are valued at half what we should be.

Late RNS won't have got the attention of everyone. Will go higher still.

Wonder who was dumping shares this morning. SP has recovered somewhat though.

Lol!! DJM please tell us why any company would pay nearly 30x the MCap for a business that has no customers and zero revenue?

Yeah completely agree Axis.
Bouncers Dream - the day you try and work out how Joe thinks is the day you lose your own mind!

Yeah good RNS but no reaction over there?! The last 2 RNSs have not had the reaction we would want considering they are both positive.