Member Info for TrekMadone

Looking at early trades and using sankeys and luckcounts posts as markers I would say it’s all buys atm. Whilst one can never be sure especially during a spike it looks like this will be bid up through 20p which seems to be bargain territory atm. May get some profit taking around 20p but the buying pressure here looks huge. Trek about time!

Don’t forget sp didn’t move after drill results, I wonder if this will soon be factored in. Perhaps not yet but there will be a lot of momentum here as things move along and value is reflected in the sp. At last we will be able to see a glidepath to management incentive target sp and be able to apply more standard valuation metrics, not at once but it will come. Trek, sitting tight.

I have no idea how much the tax will be but I don’t see it being a problem following the 28p raise. It’s interesting, well refreshing to see no increase in volumes, no notable trades and Buhari keen that the tax is paid. Hopefully setting the tone for the rest of the transaction. All above board? Fingers crossed but that’s the biggy out the way and I averaged down and now have 3x my original number of shares. Not sure which conviction applies if Mrs Trek finds out! Trek, chuffed and smuck! GLA from the rooftops!

BTC ETF SEC decision delayed. Why is this important?

“people pointed that following the introduction of the first gold ETF in 2003, prices multiplied from $332 an ounce to over $1,500, and that a similar thing could happen to Bitcoin prices.”

https://www.finder.com.au/sec-delays-bitcoin-etf-decision-again-deadlines-are-now-september-and-october?futm_source=email_internal%7E1565949801386eea7aa2bb5a1&utm_source=email_internal&utm_medium=newsletter&utm_term=1565949801386eea7aa2bb5a1&utm_campaign=s%253a%2Bgx%253a%2Bcryptocurrency%2B%2528recurring%2529&utm_content=20190816&bt_ee=uYyHK38XFQPC3kF0Ner%2FylLWBI2g7ZLQc6iJptjOdPManwsP80tbSWWw%2FUi0bNva&bt_ts=1565949801389

Trek, it’ll come, easier to regulate than deny.

BTC premium in Argentina.... illustrates how BTC is adopted as a ‘safe haven’ when currency’s become stressed...

https://www.finder.com.au/bitcoin-premium-in-argentina-hits-us1650-as-peso-plummets-30?futm_source=email_internal%7E1565949801386eea7aa2bb5a1&utm_source=email_internal&utm_medium=newsletter&utm_term=1565949801386eea7aa2bb5a1&utm_campaign=s%253a%2Bgx%253a%2Bcryptocurrency%2B%2528recurring%2529&utm_content=20190816&bt_ee=uYyHK38XFQPC3kF0Ner%2FylLWBI2g7ZLQc6iJptjOdPManwsP80tbSWWw%2FUi0bNva&bt_ts=1565949801389

Trek, reading across the tea leaves

And PBOC adopting digital currency. It shows where this is going and that the volumes on the blockchain will increase meaning more mining opportunities. Trek

https://www.finder.com.au/chinas-central-bank-digital-currency-is-ready-heres-how-it-works?futm_source=email_internal%7E1565949801386eea7aa2bb5a1&utm_source=email_internal&utm_medium=newsletter&utm_term=1565949801386eea7aa2bb5a1&utm_campaign=s%253a%2Bgx%253a%2Bcryptocurrency%2B%2528recurring%2529&utm_content=20190816&bt_ee=uYyHK38XFQPC3kF0Ner%2FylLWBI2g7ZLQc6iJptjOdPManwsP80tbSWWw%2FUi0bNva&bt_ts=1565949801389

Could be a trend emerging

https://www.bbc.co.uk/news/newsbeat-49330740

Trek, PAFC fan!

Not a bad write up...

https://www.proactiveinvestors.co.uk/companies/news/900865/gfinity-set-for-big-push-into-rapidly-growing-us-esports-market-900865.html

Trek

Come on guys put two and two together. TW is the short side of the trade, that’s fine. He probably wants in lower, similar vein to Muddy Waters and Burford insofar as going public. They can’t play their short without shouting from the roof tops to spook investors, both have similar style. Difference is though TW is just a tipster, obviously so successful that he is still tipping! Lol. On the long side look at the real alliances, the deals done, the potential and revenue glidepath. Sure lots of it is futures but I would rather listen to self made billionaires that want a piece of Vrs that are happy to pay than someone that wants punters to subscribe to his next publicity stunt and lifestyle kitty. Trek, muddied tipsters!

Hi olderandwiser, I see where you are coming from and advocate away. itsyou has given you a taste of the tech, graphene could be the next industrial revolution. Science is harnessing the many forms of carbon to improve the characteristics of materials from golf balls to smart apparel, from faster sledges to transforming the strength and longevity of concrete. There’s loads of info both on DCTA and VRS websites and in general media. What sets VRS and DCTA apart is first mover advantage and both sit on the US graphene council. VRS is ahead in MCAP, I’ve been there since I think 16p, don’t bother looking in anymore as on free ride but DCTA is lagging as many peeps don’t get different types of graphene for different applications. As itsyou says the twist with DCTA is PSS buying 22% of stock from early investors and an insti that wanted to cash out (I know this from Giulio) and adding in the open market. PSS owns Nant, a technology business focused on futures and eco friendly aspirations. DCTA has many graphene patents across the world especially US, as well as battery applications there are many other fits. My view is Nant can provide a mass route to market. You would have seen DCTA’s revenue growth and that the company incentive plans are revenue based. So there is an appetite for this new tech. You are right about the IPO price as my fear is we get taken out for a low ball and we don’t get to see what could be a truly transformational partnership. Then again we might just make it and landing a few of those contracts e.g. Grafysorber become standard, adoptive concrete additive, fire ******ant compound could transform us similar to ARM holdings but I don’t see us getting that far as PSS is a guy that gets what he wants and he defo sees the potential here. I have noted that during the recent market sell off we have hardly moved. The sp shows up and down amongst the spread. I hope that’s not the kiss of death! Anyways I have been adding here as funds come free and it’s now my largest holding coz whilst not always true it usually pays to follow the money and PSS has over taken me and recently caught itsyou! Lol! Trek, GL with your investments.

Nice find APH, I can wait until the “middle of 2020”, if not sooner.

Trek

Confusion amongst TLA’s. The common term for SPT in the O&G industry is Standard Penetration Test, so I thought why on earth wouldn’t that be capitalised.

https://en.m.wikipedia.org/wiki/Standard_penetration_test

Of course Ross was referring to supplementary petroleum tax, referenced as an increase in income tax in the RNS. I have looked into this now and the document below explains and also PPT as well.

https://thelawreviews.co.uk/edition/the-oil-and-gas-law-review-edition-6/1176233/trinidad-and-tobago

My apologies for any confusion.

Trek, ps TLA = three letter abbreviation!

“Am I missing anything”

This?

Financial outlook
The Company reiterates its target of achieving Adjusted EBITDA break-even by 2021. Revenue is expected to be driven by significant increased activity in managed services and wholly and part owned and operated solutions. Annual operating expenditure is expected to reach and remain relatively stable around £10-12 million in the medium term, as the majority of investment in the esport solutions platform, commercial delivery capability and content production is completed. Increasing value of esports content through a growing audience along with stable operating expenditure is expected to drive material operational scalability. As such, the Company targets a long-term group gross margin of 30-40% and an Adjusted EBITDA margin in the range of 15-25% on a normalised basis.

You may just have a different interpretation which is what makes a market. Trek, contrarian.

NP please ensure he has your question as well to frame it. Trek

Hi Ross,

The SPT will be capitalised as an exploratory asset. This may not be the case for all e&p as you can virtually pick and choose your GAAP but in the case of TXP section 6 of the March 2019 accounts under exploration assets states...

Exploration assets consist of the Company’s projects in the exploration and evaluation stage which are pending determination of technical and commercial feasibility. The following table is a continuity schedule of the Company’s exploration assets at the end of the respective periods.

Now if they have capitalise admin cost associated the the sure will do likewise for the SPT!

Exploration assets is shown in assets together with property and equipment (which may be more familiar) in the assets line on the company accounts. The accounting doesn’t differentiate gas and oil. On the RNS there is a line fro exploration capital expenditure. The accounts, as is common on aim, are unaudited so there may be differences as explained.

The point about why would it be allowable is this is how they have accounted for it as an associated cost. They have shown all associated costs as an asset. Normally you would split pay and non pay across opex and capex here they are saying all these costs are capex related. Rightly or wrongly we have to accept it as correct.

Trek, hope that helps.

Mmmm Mr Market doesn’t like to see Capitol written off. I think you gotta look beyond that. £5.25m raise goes further, focus on growth areas as per results RNS and more likely to achieve adjusted EBITDA breakeven in 2021, or now earlier! I will buy more if this hits 4. Trek, thinking Gfinity and beyond!

They don’t need to raise. They may but they don’t need to. My view is they will drill review. If as expected the coho-1 is a success and they get a bonus from deeper they may raise then to minimise dilution. They have $7m cash, $2m is working capital, $5m probably for principal security of which they, as I read it, still have $5m flex on the $15m credit facility. I am assuming the $10m debt is part of the same loan. So they have $7m for capex and enough revenue to cover opex so they don’t need to raise for the second drill. As the principal payments aren’t due until Jan 2021 then one would expect the prudent objective would be to monetise these two drills (if they come in) in time to pay down the debt, the interest of which I assume from the positive summarised cash flow from operations lines (I haven’t looked at the sedar link yet) can be covered from current cashflow. Even if there is a blip in revenue they are cash positive on a monthly basis. Tax should be less of a surprise as they will have more capex in the coming period. Whilst imo the finances are excellent the obvious health warning is its drilling and anything can happen, just look at MATD with the leftfield paperwork issue! Or ECO when the market pretty much expected dust and they hit the jackpot. Well imo TXP for a high impact small MCAP e&p play is about as good as it gets. Trek, betting but not the house!

Well I’ve added while the market gets its head around this. Trekahead I hope!

Mmm interesting everything was going so well but needs more capex. Feel sorry for HT1 holders on ASX as this clearly means more money needed to make it sustainable but conversely that means our funds should go further and in the US which after all is enough of a pie for this minnow. I haven’t researched that much into fortenite other than I see it on kids t-shirts and I note the prizes and recent BBC coverage. It’s an obvious competitor that I should research more and it will be interesting to see if anyone steps in GFINs oz shoes with HT1. If that does happen and it’s fortenite then imo that could signal some consolidation earlier down the line than I would have expected which imo would be even better news for Gfin. Why, coz the biggest threat here to value is when Charles st comes to sell. Atm it’s been good coz their overweight position means funding gets away but they will want to sell at some point. Now that Gfin have clearly stated their growth markets I see this as a better path for shareholders as it’s less capex intensive and if they can emerge in Europe and US as a major player it makes the company more attractive to a takeover which could give Charles st a single out. Ok Trek getting ahead of himself today, how my mind wonders. Enjoy the RNS and any fantastigorical machinations. Trek space cadet! Pow pow!

So looks like it was a cok up by PAM rather than anythIng Machiavellian. As I alluded to in my earlier post drilling should be allowed to continue whilst paper work is completed in a parallel. This is not any fault of MATD whom have followed the guidance of PAM throughout. Now let’s get that oil before it gets cold! Trekellation!