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Looking good today
I3E looking very good value too at the current sp.
I mentioned previously there were cheap oil stocks out there and I would mention when I’d finished buying.
One is Valeura Energy (VLE) listed in Canada.
Market cap of $150m. 2023 NOI will be about $300m.
The tweet from Wednesday about today’s Frankfurt announcement has had 225k views.
Certainly a lot of interest.
Excellent news.
A new festival in Madrid.
And having SBS as partners for both Madrid and London will mean really big name Kpop acts.
Other projects in the pipeline with SBS too:
‘This will be the start of a long-term relationship with other projects already in the pipeline‘
SBS are a huge media company in Korea. The £6m market cap is now ludicrously low.
Could get back into the 10-20p range.
Huge upside from here.
£2m profit would be about 0.82p eps.
£3m would be about 1.23p eps.
On a PE of 8 that would be a share price of 6.5p-9.8p.
Would be much higher based on 2024 profit.
I think the new CFO is bringing some sensible prudence to forecasts.
The Kpop revenue will be MORE than £1m based on three shows with Japan and other shows to be added.
Could be £2m revenue and well over £1m profit.
Start Art could be similar profit (£1.5m EBITDA forecast for 2023) and Bricklive should be profitable now.
Could see £2m-£3m profit for the group in 2023 with reduced overheads, and much more in 2024.
£6m market cap looks very low.
I’ve just found this.
This could be huge.
Must be Jason Lee driving this in Korea. This could be why he’s so keen to invest.
Startart launching a new platform for NFTs in February, making NFTs of the works displayed at the art fairs. Including a blockchain digital certification issuance.
‘Live Company Group plans to unveil an online platform Startart.io in February, which shares, appreciates, and trades digital artworks created by various artists through Start Art.’
Looks like Bricklive is getting in good shape.
2022 revenue the same as 2021 despite focusing on fewer, higher value tours.
In 2021 Bricklive revenue was £1.8m, with Cost of Sales of £1.3m, giving gross profit of £0.5m.
Admin expenses were £0.9m giving a cash loss of £0.4m.
2022 results should be better given the focus on higher value tours.
We were also told in the interim results that they had reduced staff numbers in Bricklive by a further 43% since Dec 2021. That would suggest a £0.4m annual saving.
Therefore I think Bricklive should now be profitable, even before the looking at new markets in 2023.
They want to return to the pre pandemic level of 71 tours, compared with 31 in 2022. That level of utilisation could see Bricklive creating £1m+ of cash profit.
They really do look like they are streamlining the company for profitability.
And it’s set at a 3p price. Premium to current price.
Jason Lee is buying £750k shares at 3p starting in January.
So can currently buy shares cheaper then he will.
The update looks like an honest assessment of where the company is. I think the new CFO is clearly behind this new transparency.
The company is very cheap given it’s £7m market cap and multiple income streams.
It should have no cash issues going forward with the additional cash coming in from Jason Lee and divisions now being profitable.
They say MORE than £1m. Streaming is an unknown.
It clearly states the 2023 Kpop contracts are using a low risk licensing model.
Licensing income is almost all pure profit. LVCG’s only costs should be their own staff costs, which they pay anyhow.
Progress certainly being made.
On Kpop it states they are switching to a low-risk licensing model. They are becoming executive producers of the shows and therefore won’t have show setup costs. This is a good move imo.
Therefore virtually all revenue should drop down to profit.
It’s say MORE than £1m revenue. Streaming is an unknown and therefore I doubt they have included much.
This is based on three European events and will increase as a Japan event and further events are added.
Hopefully can get closer to £2m profit with the addition of the Japanese shows and some streaming success.
The £7m market cap seem very low based just in the Kpop division.
Don’t get me wrong. I3e is very good value. But there is lots of good value in the O&G space.
A few listed just in Canada I’m currently buying at under 2 times cash flow. Will mention when I’ve finished buying.
Not such good value as those but JSE will soon be back to around 20kbopd (all oil).
Around £330 market cap and will make more than that in NOI in 2023. So under 1 times NOI.
Also has over $100m in net cash. Should have it’s market cap in cash sometime in 2024.
Decent update. But there’s better value out there in O&G.
Can’t believe that i3e are forecasting net debt of $3-$8m at the end of 2023? Some companies are hoping to nearly have their market cap in cash by then.
This is very good.
Messe E Sang are the top exhibition company in Korea (more than 60 exhibitions annually) and will be partnering with LVCG on this exhibition and on other opportunities.
Art is huge in Korea.
KINTEX looks like a huge venue and they want the event to rival Frieze in Korea.
More than 70,000 attended the inaugural Frieze event in Seoul this year.
This could be the largest StArt show worldwide.
They are building a global brand to rival Frieze.