Member Info for THGambler

We are 90% down on our MODE investment and 80% down on Cornerstone that is a combined £560k down (on paper). AWFUL!!!

Another company that our BoD took 2 bites at!! For transparency I also took some csfs in the 20s, even that what a bad price it transpires!

Which leads to my original question, what price will the fundraise be at? Will it be fully subscribed?!

Well so far the market hates the RNS. New lows....

So what price will the fundraise be at?!

CIZ are capped at £5m from what i understood. Obviously we have an % of the profits after costs. Currently though, what is 8% of F All??

Yeah lets be realistic here guys, what is going to make anyone invest here currently, 90% of all our investments are underwater, we have been invested in Aeristech for 15 months and still no IPO. The quarterly update will yet again show we are further down on our investments. The only thing to move this is the SGSC deal but we have now been kept in the dark on that since results and the 'almost immediate' commercialisation which is now 9 months ago.....

BigDave, I am waiting for someone to say we could have sold when we were all in profit on VELA.... Although we were told a commercialisation deal was to be done immediately which lets be fair is why we all stuck around. I wonder if the VELA board were fed a load of lies by MODE and that's why they stuck with it.

Good post Hector and completely agree!
Its nice to have some positivity here but when you actually look at the figures we have invested we are solely dependant on SGSC coming good to actually move the SP north.
Bcarm lets suppose MODE improves by next year, what would be a good improvement from here? 4/5x the SP it is at now? well that would still leave us underwater on that investment. Hector made a good point, the Mode business plan was solid whenVELA invested then they completely changed the direction they were going in and made an almighty mistake in an RNS and have been on the slide ever since. to think VELA was up around 50% on that investment as well back when MODE got up top 80p!

Looks like the market agrees. Remember the link ojls gave for Alan Green giving his views on VELA? He was most excited about MODE....lol

Has anyone actually listened to the link provided by ojls? A mass of misinformation would sum it up. When talking about VELA investments Alan Green goes on to talk about the investments in 'positive' territory:
MTI - actually we are 20% down on this one
CSFS - laughable as we are over 60% down on this one.
Northcoders - The ONE investment he mentioned where we are actually in positive territory!
Igraine - we are 30% down on this investment currently.

He goes on to say he is most excited by the MODE investment for VELA. Sure, we are only 85% down on that one.......

Spot on Unclejim. It infuriates me when the BoD, who are obviously inept are questioned by us then we get told to sell up if we don't like it. This would be a very boring BB if we weren't allowed to discuss what we think is wrong with the company considering all of us are down on our investment! If it were only positives there would be silence, as far as i can tell we have no positives currently, that will be down to the BoD to provide us some positive news.

In the RNS dated 14th June:

''Following enquiries made by the Board of Vela on 10 June 2022, Vela became aware that, on 26 May 2022, unbeknown to the Board of Vela, a placing letter was sent directly by a third party to the Company's own broker and that this letter was then signed by that broker on behalf of Vela.''

Just wondering if, in the 9 days since this RNS the board have managed to get to the bottom of this? Perhaps our new PR & IR company could get some dialogue out and clear this up??

PS - Morning Postman

Bloody hell maybe you are Brent after all! He doesn't take criticism well either.
Strong Buy!!!!

ojls - you just need to be patient. The board don't need to let us know of every detail. You know you could just sell up if you don't like it? Strong buy here....

Only joking mate, I was just pre-empting what postman will write to you!
FWIW i agree 100% with you and the longer they don't clarify what is actually happening with truspine the lower our estimations go of the BoD. Although how do you get lower than a snakes belly?!

TKOTM - please see BigDave response clarifying.

apologies i had forgotten to add the Igraine investment in those figures. so should read:
The value of our investments plus cash in the bank is circa £6.2m. If you take out the SGS investment of £2.35m then we are looking at a portfolio plus cash balance of circa £3.87M which is comfortably below the trades currently.

That's unfortunately incorrect TKOTM. The value of our investments plus cash in the bank is circa £5.92m. If you take out the SGS investment of £2.35m then we are looking at a portfolio plus cash balance of circa £3.57M which is comfortably below the trades currently.

change the record postman. You are as heavily underwater, if not more so than the rest of us. I see you bought in the 0.9s so even if you have averaged down you are underwater. Stop with the 'strong buy' cr@p.

''The BoD must be feeling the pressure '' ojls - i think you give them to much respect!

I noticeour latest Investment to IPO (ensilica) are now at around our 12% discount rate! should have sold on IPO day and made a return lol