Member Info for Tricky_Dicky

stt1 operates a perpetual scam against Tremor.
Why would anyone believe what he says on here?

His head is permanently stuck up some place the sun doesn't shine.
Whilst performing self-flagellation with nettles - Roman style.

stt1 is not intelligent and not even really a life form at all.

stt1 operates a perpetual scam against Tremor.
Why would you believe anything he says on here?

Yes! One of my posts was removed, concerning the village clown.
It seems he doesn't like it up him.

He's been trying to figure out ebitda and can't work out what increasing profits means either.
Juggles a few figures about and makes baloney.
So simple minded.

The22nd March trading statement was phenomenal:

Net revenue of $55 million to $60 million, an increase of 71%-87%.
Adjusted EBITDA of $25 million to $28 million an increase of 46-51 times.
Programmatic net revenues expected to grow by 84%-95% in Q1 2020.

Heady stuff!
So, if Tremor are not issuing new shares there should be no dilution, except that new shares may eventually have to be issued in order to preserve liquidity if a tender offer (using existing shares) is oversubscribed?
Tremor are not listing on the Nasdaq, using a Bank instead to hold the ADR/ADS allocation to be decided at a later date.

We won't get anywhere sitting here on 'AIM' alone - an American exposure, via a Bank, with contacts to the known investor-base, is better than nothing.
However, I do not realise that we are actually issuing new shares, is that really the case?
If so Tremor would have to gauge the appetite in America or be left with 'egg on their face' and a dilution factor if the uptake was low?
That would not be good.
Level 1 ADR's trade over the counter, not on American exchanges.
Sounds like an experimental dipping of a toe in the water, with uncertain outcomes.

I think there is some confusion about the generally understood use of the term 'IPO' and an ADR/ADS 'IPO'.
Typically an 'IPO' refers to when a company issues stock for the first time.
A company can be taken private (such as by a private equity firm) and then be taken public again, which is also an IPO.
So, there are many variations.
Presumably the U.S. Bank where the ADR/ADS resides are more likely to have access to key institutional investors and may be in a better position to reward investors dynamically for their information revelation.
The Bank involved can also vary their holding according to demand?

The supply of ADRs or GDRs can be expanded or contracted by the depository bank

I was wrong, some of the shares have to be deposited in a U.S. Bank, as far as I can see.
But how many?
Are they the same shares or will there be a Class A, Class B, etcetera?

An F-1 submission includes the following:-

It begins with a prospectus summary then provides comprehensive sections on the business, management, executive compensation, related party transactions, principal shareholder, description of share capital, shares eligible for future sale, taxation, underwriting, expenses related to the offering, legal matters and identification of the auditors. Also salient to investors is information regarding industry and market data, dilution with the proposed offering, dividend policy and use of proceeds. Finally, management discussion and analysis (commonly referred to as MD&A) provides some details about the drivers of the company's revenues and profits.

The primary benefit of cross-listing is for the company to gain exposure to more investors and capital and to increase liquidity.

It looks like the shares do not have to leave the home country.

Thordon,

Thanks for your reply,

It reminds me somewhat of the Monty Python sketch.
All companies, across a range of industries, seem to have to spend their budget to show the need for funds the next year as otherwise they have their income cut if it appears they don't seem to need such funding.
All doctors I have spoken with claim that the NHS is okay but the management is poor or struggling to cope.
On a similar vein:
If hospitals have surplus covid vaccine slots available and patients booked ahead cannot attend at short notice, they will then invite relatives of staff to attend instead, so that the supplies are used up.
In other words the NHS are under pressure to demonstrate a need for the clinics to be open or they will be reduced in number just because of a 'blip' in attendance rates.
We are just told that failed appointments cost the NHS x,y or z pounds/year.

Strictly speaking an initial public offering (IPO) refers to the process of offering shares of a private corporation to the public in a new stock issuance.

Sadly (actually it is verging on the criminal) the NHS is not performing well everywhere, just as education ranges from poor, moderate and good, depending on the the school and its governance, so the NHS service varies accordingly, with some hospitals performing variably across a whole spectrum of issues.
You may go to a particular hospital, presenting with a certain ailment, and be told that there is nothing that can be done and you should just accept the matter, literally consigned to the scrapheap.
Or you may then go to a different hospital and be told to attend for surgery immediately and have a serious issue tackled. This is all rather concerning.
Unless you have the ability/agility to cope with variable responses by shopping around, and not all older people have that ability, then you may be treated very poorly, or much better, just by chance.

If the private healthcare sector can make inroads here then they may be worth paying to sort the wheat from the chaff.
Are TLY onto this?

Thank you Thordon,

That seems a calm, sensible, well-reasoned response to my queries about fraud.
I stated that it was not necessarily deliberate that overcharging can occur, even inside the NHS.

.

Holders of ADRs realize any dividends and capital gains in U.S. dollars. However, dividend payments are net of currency conversion expenses and foreign taxes. Usually, the bank automatically withholds the necessary amount to cover expenses and foreign taxes. Since this is the practice, American investors would need to seek a credit from the IRS or a refund from the foreign government's taxing authority to avoid double taxation on any capital gains realized.

Dumbledore,
I stated that fraud exists in all forms of healthcare and you had a hissy-fit.
You attempted to put me up against a wall and demanded answers to questions.
Questions about something that I never said but you believe I implied.
This is nonsense bullying tactics.
The rape of reason by any other name.
Are you a man or a mouse?

An IPO is where a privately owned company lists its shares on a stock exchange.
However, listing on the Nasdaq requires two market-makers and we seem to fulfill that precondition now.
A company can have a dual listing and then seek shareholder approval to cancel its listing on AIM, while keeping its U.S. listing on the NASD, Over the Counter Bulletin Board Market.
More and more AIM-listed companies are expressing interest in heading to the U.S., citing a lack of liquidity on AIM.