Member Info for THGambler

Hogbog, I care about the BoD wages. We have 3 directors all earning 60k (ish) a year to run the company. And while you will say that is relatively cheap, i would argue that is relatively high based on the following:

- Their performance, there is no argument their performance has been terrible. For this alone they should be relieved of their duties.

- The amount of work they actually do. We are an investment company who hasn't made an investment for over a year. The least they could do is keep the website up to date and release timely quarterly updates, both of which they do not do.

- they are selling investments at significant losses to pay themselves their wages thus decreasing shareholder value

Yup, CDT nosediving. VELA investments dwindling. Investment value soon to catch up with MCap, not a good week for VELA Investors who will have seen their holdings worth less than the start of the week. Only people who will be happy are the BoD who will continue to receive their salary despite overseeing one of the worst investment performances ever.

Someone is definitely offloading shares. And we can safely say at a considerable loss. Bad times. BoD won't care though

50m shares sold at the All time lows is all the evidence anyone needs to see where this is headed. BoD have not and will not give a toss about SH.

From the quarterly update we can see that they sold 10,000 shares in CDT for around $3 a share. They had multiple opportunities to sell at $5+ but never took it.

The way things are going there will be nothing left to sell. I honestly can't think of one thing the BoD have done that is positive in the last 24 months.

Yeah not sure why that has taken 10 weeks to release!

And yes, continue to sell investments to pay the wages and overheads. Another quarter of decreasing values.

Hopefully some investments will take off and we get out of this downward trend.

TSP was one of the more comical investments the BoD has done:

The Board of Vela (AIM:VELA), an AIM-quoted investing company focused on early-stage and pre-IPO disruptive technology investments, announces that, on Friday 10 June 2022, the Company became aware of a subscription for £300,000 of ordinary shares in TruSpine Technologies plc ("TruSpine") seemingly made on its behalf as part of a placing announced by TruSpine on 31 May 2022 (the "Placing"), for which admission to trading of the ordinary shares issued in the Placing to the AQSE Market took place on 8 June 2022. TruSpine is an AQSE listed medical device company focused on the development of spinal stabilisation systems.

Yeah the quarterly update shouldn't be far off. see how much cash they have generated from sales and how much left in the bank.

VELA could have sold some at $5 and over but decided not to......

I agree, we need to sell CDT and get the funds into something else, ideally something that will produce a return!

Assuming these values are now correct. I make it that we have sold the following ( i may have missed some disposals previously):

CSFS - sold 110,000 shares

MTI - sold 50,000 shares

SKLS - Sold 50k shares

CODE - sold 2.5k shares

Agree on the rest. My updated investment value is - £5m. Obviously we have no idea of what our cash balance is, should find out more when the quarterly comes out soon. Nice to have the website updated!!

Aeristech could do with IPO at some stage this year?!

All at the time of writing.

Just to add some further info. Talk that we now have funds is incorrect. The RNS clearly states that the sales took place between July 2023 and May 2024. We know the cash position has been weak (at best) and the last update for Q4 showed we had circa £60k in the bank. That would have all gone by now and the further sales of ENSI would just be to pay for the Directors salaries and running costs. Yes, its nice to have sold some shares for PROFIT for once but we are still treading water!

If the BoD actually did manage to take the time to read this BB could they please just update our holdings in the investment companies!

On the next quarterly update all they have to do is state the amount of shares held in each company. Would save us all trying to trawl through the various RNSs where they have sold bits and bobs all the time to try and gauge what our holding is. Just a bit of transparency please

Yes Ltd. They haven't updated the website for over a year. The first quarterly investment update is due, that's usually when we can piece together what they have sold to cover the wages and overheads.

It's been said on numerous occasions that we have 3 director salaries to pay for yet but haven't invested in a company for a year (we are supposed to be an investment company!), yet we are selling investments at losses to pay for them. The least they could do is give us timely quarterly updates (this would take a maximum 1 hour out their day) and keep the website updated.

But your point is correct based on the value of our investments we are drastically undervalued, but based on the performance of those investments and director communications we are valued about right.

Not sure we are the right people to ask. Our investment in MODE has been nothing short of a disaster. VELA invested a total of £316k in MODE and the value of the investment at suspension was just £13k. I would suggest anything over this would now be considered a bonus but likely not going anywhere and written off.

Yeah some chunky trades going through. Especially as there was only £25 worth or trades yesterday. Unfortunately another decent sell of 150m shares doesn't bode well

Yeah confident that's a sell. Someone had enough. Again, can fairly safely assume whoever it was has taken a hit again.

Up to 40p now...into profit! if the BoD haven't sold any that is!

I'm not even sure CDT going up is going to move this too much. We are already only valued at 37% of our investment Value.

Problem is, we are supposed to be an investment company, except we haven't invested in a new company for a year and not forgetting we don't actually have any money to invest!

Yeah the 250m and the 44m on Monday 8th April were sells. They are the shares we paid in consideration for the 'corporate finance advisory fee' to our broker. The 2 sells add up to the exact amount mentioned in the last RNS. So they took circa £35k from their £50k fee. So yes, they took a significant hit, 30% hit to be precise.

There was another trade for 44m shares so the thick end of 300m shares either bought or sold at the same time on the 8th April. judging from other trades around the same time it would appear they may be sells though. And yes whoever sold them would have lost a significant amount of money if they were sells.

Yeah, we have been undervalued based on our our investment value for a very long time. We have been around 50% of asset value until recently when our SP has hit new lows. Ironically as our SP has decreased our investment value has gone up slightly, further contributing to the widening disparity between MCAP and investment value.

At the time of writing out Investment value is circa £5.3m and our MCAP is £1.95m.

We are currently value at 36% of our investment value.

Even if we sold all our investments at a 20% discount to current market prices, the cash proceeds would be over double our Mcap!