Member Info for THGambler

Value of Live investments (at time of writing) - £3.429M
Cash in Bank (per Quarterly update, will be lower than this figure) - £864k
Non Current Investments - £2.7m
Total - £6.99m
Total Minus Non current investments - £4.293m
Current MCap - £2.55m

Figures speak for themselves. the £750k invested in ENSI has a value (including disposal amounts) of £1.6m.

I know the BoD have messed up the majority of the investments BUT the 2 largest live investments are currently the ones boasting the biggest returns. Jury is still out on the SGSC investment but until we hear something either way it will sit there.

Couple of RNS over there including a new contract win. Won't do anything for our SP but our investment value in them has grown 10%.

CIZ always know more than the vela team so fingers crossed there is something positive tonight.

We have had the opportunity to vote them out but not enough votes. Brent was close on the vote a year ago but JN breezed through his

Agreed, a new management team here could do wonders for the SP. Name another company which is in funds, has no debt and the MCap is around 40% lower than its Investments and cash balances and that's without the SGSC investment included in there! it can only be down to sentiment which is driven by the poor management from the BoD.

3 x as many buys to sells today.

No one knows the answer to this but whoever bought them were happy to pay 0.4 so.........

Just worked out our investments that are live plus cash balance is £4.09m so that does not include SGSC and the Aeristech investment. Our MCap is currently £3m! We are valued £1m below what should be fair value. That includes MODE investment which is worth only £4k.

Mark, as you know VELA has held their shares from the highs here of 75p down to where we are now....

Either way, the facts are there like I have said for a few weeks now, VELA are well in funds, have no debt and are valued way below their investments and cash balances and that's without SGSC. Compared to a lot of other companies out there which people are pumping money into, Vela is relatively stable. Just needs to get back in people's radar and this RNS is a decent start.
I notice they say they met with SGSC so hopefully something positive will come of that even if it only gets half the money back the market has written the whole of it off and some!

Mark, come on. Why would vela sell now? The same reasons you said you wouldn't sell at but I'm sure your average is way below theirs. They invested at 50p + which makes their investment worth virtually nothing. Think it's worth circa £4k now compared to the £316k they invested at not worth selling at all is it? Or do you think they should sell to salvage £4k? That would be a great RNS over there. 'we have sold our entire holding in Mode at a loss of £310k' we salvaged £4k though'

Positive largely due to ENSI.

Strong cash balance as well.

VELA still valued well under investment and cash balances. Wonder if this update will spark some interest

They have been getting later and later with the quarterly updates so its no surprise its later again. Obviously the catastrophe in MODE was this quarter but they should still acknowledge that and TSP in the update, if it comes?

Remember how TSP investment came about? The BoD didn't even know about it!!

Some half decent buys have appeared!

Maqsood, I think you should "do the maths"... How is there less than a £1m debt? They raised £2m via the CLN and so far around £500k have been converted (which we have been notified on) which leaves £1.5m to be paid back in July plus 8% if these CLNs are not converted. If they are converted that dilutes the SP into oblivion.
Secondly you claim they are selling 2 subsidiary companies but the RNS clearly states they are closing them not selling them.
If you actually looked at the accounts you will have seen that mode revenue was £500k for H1 2022, but they were burning £600k per month. They now have no revenue at all so how much cash do you really think they are "sitting on".
Ramp all you like but don't just completely make up things to support the ramps.

Equally where are all the rampers? Maybe while ramping that the price would be many multiples of what it is, took their 10-15% and ran yesterday?!

Spot on Dave. I am hoping they have sold more of ENSI shares during the peak but that would mean the BoD would have done something right! Like you say why sell at 61p and hold at £1.18. There doesn't seem to be any strategy. More likely they haven't looked at the SP for a few weeks so have missed an golden opportunity.
Its so frustrating because there as I have stated a few times, Vela has no debt, in funds and valued way below their investments and cash balances, Normally this would be a strong buy but all we are seeing is bored PIs cashing out at losses, and that can only be down the way the company is run.

Investorken - Well said and completely agree.
Crypto enthusiast - No debt? that's the best one today, so far....

Joe, Mode was only worth £10-£20k to us before Mode collapsed. VELA losing that much shouldn't effect the SP. Also ENSI added circa £200k to our investments (although this is retracing the last few days) which made up for the loss in Mode. We also have KNB which has added over £30k to our investment and has similarly accounted for the demise in Mode. Vela SP should technically be increasing but sentiment and BoD have put pay to that.
Remember there is no debt with VELA and they are currently in funds.