Member Info for THGambler

I am not wrong if you look at the RNS dated 30th September then you will see this sentence:

Revenue of £0.5m down 34% (H1 2021: £0.8m) driven by a significant reduction in trading at Fibermode which was driven by a market led drop in trading revenue of 80% to £0.09m (H1 2021: £0.48m).

Clearly you don't even read the RNSs just come on here to ramp without doing the research. You are as bad as JL. If you could answer this: Where do you see the funds coming from for MODE to continue past April 2023?

Agreed BigDave, appreciate your thoughts on it.

As you say lets kook at the positives and hope we can sustain a rise one day!

Sharebel - You too are misleading. 'BTC being down is good for Mode as means more trading' - BTC has more than halved in value since the start of the year which by your logic means more trading for MODE and more revenue, what you will find (factually) is the opposite happened and MODE revenue for H1 was actually lower than the same period the year before. There is a reason Mode SP is where it is and that's not at all to do with JL!

BigDave would welcome your thoughts on the RNS yesterday? You know where the £250k has gone?!

Some chunky buys dotted in all these trades!

That's my point, just tell us where it has gone, why release a flaky RNS with no real details. There should be a reasonable explanation but from what I can see there doesn't appear to be!
Would like to hear BigDaves thoughts!

Another post of mine has been removed for reaffirming TKOTM original post that £250,000 has gone missing. Admittedly I did say that some of this cash may have gone to Laiker via a golden handshake but surely that is a feasible accusation. The simple thing would be for VELA to just tell us how £250k has left the bank account?!

A third of the cash in VELAs bank has gone, but nothing to see here.

Whilst I do not like flat out rampers and the opposite derampers. You would be better off listening to JL over any rampers. This has declined steadily over the last few weeks and is 30% down in the last couple of weeks alone. There is a massive question over funding and until that is sorted then this will be the SP. On the other hand there is potential here providing the funding is sorted and the new tokens increase revenue. There is cash until April providing that the revenue has increased from H1 and the cash burn has reduced from H1. But if you believe in the company and plan on holding long term then this price won't be too much bother, but if you are shorter term a lower price would be more appealing.

Honestly I can't believe they release an RNS like this and will now go back to radio silence. No details of the disposals in terms of price sold at etc?? What was the point in selling any shares in CSFS? they are 90% down so we got pennies on the pound. Where does £250k in cash go? Unless they have given themselves a massive bonus? Thanks for telling us you met with some of the investee companies, any more than that or just telling us you met with them to justify your wage?
Jesus wept!

Why were we not notified of the disposals? They must have sold cornerstone at a heavy heavy loss!

This is now the longest it has taken to release a quarterly investment update. The Ironic thing is there has been no new investments or disposals during the quarter so should be one of the easiest to compile. Once again the BoD are showing in plain sight how much they care about the Shareholders. They should be ashamed of themselves.

I do wonder what day to day at work looks like to the BoDs. They have made 3 investments this year so far so its not like they are wading through opportunities on the daily, and one of those investments was done without their knowledge.

The lack of quarterly update just shows where VELA is on the BoD list of priorities. We have 10 live investments, not hard to take the closing priced on the last day of the quarter and calculate the value of our investments. Add the unlisted investments and cash and there you have it.

For the CLNs to be converted at 0.0393 they must have been converted end of September/beginning of Oct?

It's fairly clever from them to be fair though. The conversion price is way higher than today's for a start. Secondly the conversion gets a 10% discount of the average SP over the previous 5 days so this was done a fair while ago and they release it now as the SP is lower. Fair play

Thanks BigDave. That gives them approx 4/5 months to raise the SP then.

Feel free to correct me if I am wrong but this is the way I see it for where MODE is for H2:
£2.3m cash at 30th June 2022
+£0.25m in converted CLNs since H1
+£0.6m H2 Revenue (added an extra 20% compared to H1)
- £3m H2 Admin Costs (reduced admin costs compared to H1)
=£0.15m Cash come Jan.
The way is see it is unless they convert more CLNs or do a placing the cash will run out some point in Jan.

Also the trade was a sell!

I think Bouncer hit the nail on the head. They obviously read the BB and as Unclejim pointed out that they were looking to address the issues between us and them BUT they do nothing. I would hate to read about my performance and not try and at least offer an explanation. Maybe that's where the truth lies, they have no explanation so best to say nothing at all! If the BoD do read this, do us all a favour and resign and let competent people run the company.