My understanding is that those buys/unknowns with minus sign that preceded the same number which are positive did not complete. They are probably cancelled orders. So they were put on the system and cancelled before execution. I have done the same and seen the trades reported as such on LSE.
Trek
Hi Alpaca, possibly but not yet. If they need to raise it will be because revenues are lagging as opposed to costs which I think they have well under control now. Even the director pay, although pay has increased it is at the lower end of a co with this MCAP, and being honest if they can get to breakeven the directors deserve a rise. Anyways I would say question is how much revenue do they need to break even.
If I am reading this right they have from 1st June...
£5.25m from raise + £0.6m cash + £1.8m sand bagged = £7.65m to start year.
Admin expenses at 10% increase = £10.56, should be lower without Impairments but may need more recruitment for growth so I would go to £11m
Operating loss will obviously be higher if they achieve significant revenue growth . With the new consultancy initiatives and real101 + expecting more advertising revenue and additional elite series (£4.8m profit if they run 3) and better product mix I would double last year’s revenue figures so £15.8m. However, due to scalability and previous investment in infrastructure I would not expect opex to double. Fag packet I know but allow 60% increase in opex on top of last year’s cost of sales (£6.8m) for twice the revenue probably won’t be far of so £10.88m, say £11m.
In....£7.65m+£15.8m = £23.45m
Out..£11m+£11m =(£22m)
So they are forecasting breakeven, fag packet shows £1.45m favourable. What helps is whilst revenue comes through at the end of the year the costs tend to be front of year and we do have cash atm. If they need to raise it will be because of income timings or not getting the revenue through but I think the growth in eSports is such that the revenue will land. Makes now the time to buy imo and perhaps offload some depending on Q3 trading statement. Then I will be looking to see if the model looks self funding or do they need a pot of cash to start the next year and if so what are the options.
I am hoping investors will be running similar numbers and we see an uptick in volume because if they do look like being ebit positive then imo it will blow the doors off the sp! And going forward media companies can be very profitable investments once they get going. This co could realistically have cash options like divi, share buy back or acquisitions in a few years to come.
Trek, with a piece of string!
Proactive...
https://www.proactiveinvestors.co.uk/companies/news/905208/gfinity-cuts-losses-as-revenues-surge-over-80-905208.html
Pretty disappointing result following such fine numbers, volumes are very low. Just wondering if it is general investor aversion as many Aim shares suffering. Still sticking to my guns, this is a great entry point and a tuck away. Have some powder dry to by more both here and DCTA if they dip.
Trek
Tried buying more gone to NT, can sell 100k np so have put in a fill or kill request for today. I’d be surprised if any serious investors got their heads around those numbers so early on a Monday morning! Let’s see!
Trek
Very good read...
This is most encouraging from Jonathan Hall
“Year-end cash of £0.6m (2018: £3.7m) was in line with expectations. This figure was impacted by the phasing of invoicing on certain key projects, which resulted in a trade and other receivables balance of £2.3m at year end. A total of £1.8m of this balance was collected in the first three weeks of July 2019. This was supplemented at the end of the month by the completion of an oversubscribed equity fundraise, raising a further £5.25m (gross) with strong support from both new and existing investors, leaving the business well positioned going into the 2019/20 financial year.”
So we enter this year in a much stronger cash position. If we assume another 80% increase in revenue, I think it will be much more due to real101, then notwithstanding keeping a similar cost run rate then they should be ebit positive next year. That would be an amazing achievement! A call out for me is increase in pay at just under £1m. I expect that to be more this year as they have recruited, rightly, key skilled staff and as always director pay has increased. But the increase in scalability should offset that and if they can deliver on those circa 30% margins all should be well.
Buying now sub 4p could be an amazing investment as you are getting in early on a funded growth curve for a media company. In a couple of years time this could be very cash generative and a pretty low cost business model. Of course all the usual caveats apply but I am (kiss of death!) expecting a blue day today. I expect proactive to headline the revenue increase but in reality there is much more to these numbers than the headlines. I recommend any potential investors reading Jonathan’s report and weighing up Gfinity’s future prospects in the competitive eSports arena. Incidentally I noted the RNS from BLU last week that also wish to invest in this space but the companies they picked imo are nowhere near as advanced as GFIN.
Trek
Rules:
Guess should not exceed a range of 100boed gap max to keep it tight and fair (so please amend your guess)
Flow rate applies to Heron only
TrekMadone 220-320
Duster hater 800-1000
Mike31 300-400
Donkee 200-250
Proselenes 100-200
SuperRoty 200
Alexios 150bopd without stimulation
"If required, reservoir stimulation equipment is in Block XIX and is readily available"-not sure they will make it on time this year before winter season kicks in.
Please help to update guys
ALGO is a trade flag introduced under MiFID
“Flags introduced to identify DEA involvement, Algo and Liquidity provision activity. 0 will be accepted as a valid value. If a bit is not specified, it will be set to 0.”
Can be for buy or sell.
https://www.londonstockexchange.com/products-and-services/technical-library/millennium-exchange-technical-specifications/mit203issue123.pdf
Page 40 lists the investment decision makers
Page 113 shows a graphic that helps.
DEA = I assume to be designated examining authority.
Having scanned through the docs on LSE, it is basically an auto trade, so the MM can pass your order to ALGO and sit back or anyone with DMA and right told can instigate.
I have had my own trades appear as ALGO before as a whole number. Listed here... when I was expecting to see an O trade.
https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB00BP41S218GBGBXAMSM.html?lang=en
Click of headers in table for docs and definitions.
There are often strings of small trades say a dozen 5 shares traded or periodic 20 shares traded. I interpret this as a MM breaking up an order to fill it or working from a pool of shares to range a sp through buying and/or selling. Thing is the role of the MM is to create a market, the documents do say in low liquidity they will manually arbitrate a price but obviously it doesn’t say they use the tools to fix a price but I guess there are no rules prohibiting drip buying or selling shares by setting the ALGO parameters to do so. So if there are buyers they could drip lots of sells to countenance and try and keep price down for a broker or the opposite.
I guess at the end of the day it’s ones research that matters when deciding to buy or sell and to get a good price one should also be cognisant of the value of volume when buying or selling. So if you sell or buy in low volume periods it may or may not be ‘true value’ if there is such a thing as it is at that time a price especially an illiquid stock can be ‘ranged’.
Trek
That’s what you need, just a view...
Shore have an exit strategy they are not interested in drill or no drill, mega bucks or bust, that’s PI fantasy. They just want their money back an£ then recoup loan interest.
So do you accept that as the panacea or is it your view Shore are a white knight to see this through to first oil? If you think first oil I think that’s naive.
EA? Imo must be a banker now, why, coz Shore would not underwrite else, just a view. Tick.
Farm in, sorry where’s the rush, no one kicking in. Granted may happen but why rush this is oil. FFS there is a long ways to go.
Imo for now be good to just get a sp base at 2.00000001. That’ll do for now until the story unfolds. Get lots of new money in an then off we go to the stars! Gonna be a fantastic journey but we are not quite away just yet.
Trek, buy.
I have been expecting this....
https://www.finder.com.au/opinion-with-usa-and-canada-now-floating-digital-currencies-focus-should-shift-to-bank-overhauls?utm_source=email_internal&utm_medium=newsletter&utm_campaign=s%253a%2Bgx%253a%2Bcryptocurrency%2B-%2Brecurring%2B%2528vbt%2529&utm_content=20191018&utm_term=157138923798435fd424fd539&futm_source=email_internal%7E157138923798435fd424fd539&bt_ee=%2BTvK0ncFfspApa627yhwFG4%2FLs6HBtJk69iIYxZ2YJeIWa%2F%2FnZxtx%2B7%2FRXlHxDf4&bt_ts=1571389237987
But imo it's good news for ARB because it underlines BTC as crypto gold. Where do you park funds if monetary policy is week. BTC becomes like gold. Could post more but you get the gist...
Trek
£1
RNS OO, excess applications. Massive endorsement by institutional holders and directors. Not sure the market realises that they cannot otherwise buy such volumes on the open market. Great opportunity imo for PI’s to get in now the financing is so overwhelmingly sorted.
Now for the newsflow Giulio...
Trek
Unlike Mirabaud to get the date wrong but nevertheless good news. Imo apart from deal closure, the fear of dilution would defo be holding market back I mean imagine if they went cap in hand again via a placing. That said I think by the lack of TR1's many of the insti's have enough risk here until the deal is done. They need to see the ink dry before running the numbers again in SAVP which if all goes well provides PIs, that have the cash and risk attitude, a great opportunity to get in sub 28p which will be the next hurdle. I don't necessarily subscribe to us hitting 35p on completion as rarely are things so straightforward. I see resistance at 28p and would like to see the tax paid plus funds land in the bank and a restated business strategy from Savannah given the delays. Happy to be blown away but I would prefer a clear unfolding of news and a sp base established. Trek.
5.55 to fund, may or may not be taken up by PI’s but won’t matter as Shore will have rest. I expect, well there is a possibility that Shore will derisk after OO if sp is as expected above 2p. This is what insti’s seem to have been doing of late. So that tells me they are confident of having an exit if they so wish else they would not have underwritten the offer. So good news for holders no matter how you look at it but try not to get caught in any spikes as it’s a long road. Imo hold tight to what you have as a base and then average up as each significant step manifests then you’ll be blue all the way to the drill when half can be sold or let it ride. Gla Trek
Look at BPC RNS today, open offer to shareholders to fund drill underwritten by Shore Capital.
This is similar to what holders here wanted and looks like it will be a sp driver for BPC now.
Instead I have dumped my SXX with a massive 75% loss coz the BoD don’t know what they are doing! They seem to be so intent on rubbing shoulders with the City that they forgot the PI’s mostly little people that have funded this!
Trek, I hope my investment paid for a few shovels coz you’ll need it to dig your way outta this mess!
Dshox, good post.
Just for balance, I don’t see SEC approval for ETFs anytime soon. They couldn’t get BTC through the regulatory hoops. So will be a couple of years or more.
But as you say this pressure is building a massive entry barrier for miners and for those that need to service debt it could be curtains.
ARB could be one of just a few left standing. Don’t feel like that now but focus on the numbers and the story and the sp will eventually catch up and when it does it could rerate really quickly. Just look at how Lloyds has moved in days. Many could have sold thinking there will be loads of time to average back in and boom and that co has a mega market cap. Arb could double in a day easily imo.
Trek
£1
"I'm struggling understanding some parts of this RNS could someone explain the results of Gazelle? Cheers :)"
Simple...
Lipstick on a pig!
Trek, v disappointed
Results Monday, please don’t blame anything on IFRS changes, getting fed up with that line on AIM. Just need to know we are on track to become Ebit neutral by 2021 and that opex is now ahead of glidepath following write downs and that revenues are unaffected. Should make for an interesting read together with cash position. Trek
Looks Iike they're playing computer games now. Hope they're on a meter! Don't understand why they didn't buy some GFIN if it's eSports they're after. My the model still don't work as there is no divi so unless they have massive stock appreciation and then sell some to cover costs or pay back shareholders where is this going. Blu was and is all about satoshi IMO.
Trek
Just reading through the prospectus again and PSS take up is a big endorsement, on a 1:38 he would have 298511, obviously they have different terms but he has taken, conditional on agm, 6.28m. That is huge and other big holders have followed suit. I note setcar is ebit positive and a decent £8m of forward revenue but it’s the opportunity from here for Directa environmental solutions, the new subsidiary, and their partner, GVC, to get a direct route to market and the respective growth opportunities. I really think this is a transformational phase now for the company. The major investors have really backed this and I don’t see Cantor having any problem placing stock. It’s been good of the board to allow PI’s to partake albeit the sp is a little shabby due to how aim behaves in low volumes but I think that will change. Although we have a placing at least it is accretive and should be reflected in the MCAP. Once the dust settles I do expect a rerate because uncertainty is removed and we have another decent revenue stream that will add to self funding.
Trek
Imo sp going nowhere for a while unless farm in news. If it goes over 2p then as this is a punt stock peeps will sell and take up offer at 2p. If below 2p why take up offer. Best to have some in and some on sidelines ATM imo and only invest with view to loosing all. Still a long way to go this is going to be a traders dream!
Trek, not a trader just feet on ground.
Yep that's the one!
Giving away our age now!
Trek