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Great find.
Where is it on the company’s website?
I see your link but not where it came from on the website?
2 RNSs just confirming what we already know.
Shares issued to Jason Lee as expected.
Second RNS showing Ranjit’s reduced holding we already know about. He hasn’t sold any more.
They are reliant on cash flow from Q4 and Q1 to repay they bond. Otherwise they won’t have enough of a cash cushion after repayment. In fact, after capex they won’t even have enough to repay the bond.
If they can’t sell any oil they can’t repay the bond.
Looks very bad.
Short term must means no oil can be exported.
Long term - who is going to want to operate barges when you could be boarded by people with shotguns and held captive.
Not great for the ability to repay the bond in Q1.
Fine. So we’re all agreed it could have been someone putting their shares in an ISA.
Makes sense on timing. David back in Korea this week.
Bed and Isa just refers to selling share outside the ISA (the Bed part) and buying them back inside the ISA (the ISA part).
Often the cash from the sale outside the ISA is used to fund the ISA purchase (and is treated as an ISA subscription) but any existing cash in the ISA can be used.
Makes sense to do it now. Get the shares in the ISA to shelter future gains form tax, and probably crystallise a CGT loss on the sale.
Could be a bed and isa.
I’ve done it for similar amounts before.
https://youtu.be/STBxI5H6uoU
Working hard on Kpop deals.
Multiple events next year with SBS - announce early December.
Plus Kpop festival in Japan being worked on.
SBS are a huge company. Takes a bit of time to get the paperwork over the line with big companies but seems it’s about to happen.
Taking the lion’s share at 3p.
2 year lock-in which is very good and shows huge confidence in the growth of the business.
Funding fears completely removed and now have cash to push forward on all fronts.
From telegram:
The Ohnim art exhibition is on for 31 days. 660 tickets available per day to view the exhibition at 15k Won each.
That's about £200k potential ticket revenue. Sales comission for art work and merchandise sales will be on top.
Show is then going to Shanghai, Tokyo and Bangkok.
So £800k potential ticket revenue in total if they use the same pricing and duration. Assume there will also be VIP events which could add to revenue.
So just the basic ticket sales from one show, from one division, could be 10% of the market cap.
With commission, merchandise, VIP events etc, the total revenue could be double that.
Perhaps they decided it was important enough to RNS. Let’s see what we get.
The Formula E sponsorship should all be profit.
We know from the 2021 segmental analysis in the accounts that the Sports and Entertainment division is already profitable (covering all its costs and making a small profit by running the smaller events).
So in 2023 the division should make a seven figure profit. That alone is worth more than the whole market cap of £8m.
Similarly the EBIT target for Start Art for 2023 is £1.5m. Again, this division is worth more than the market cap of £8m.
Plus Kpop which could become the most valuable division, plus Bricklive.
Share price should certainly be a least 10p.
Posted on telegram re news flow:
Whether the news flow starts today or next week, it’s clear from the interview that there is going to be a large amount of news over the next few weeks.
From the interview I picked up the following news items we can expect shortly:
Start:
*New gallery opening in Seoul. This will host the first Start+ show in Dec showing the work of kpop artist Mino (Ohnim). Followed by shows in Shanghai, Tokyo and Bangkok. Mino has 6.3m Instagram followers.
*Start Art digital platform has been transferred to Seoul. Exciting developments to be shared ‘over the coming weeks’.
Kpop:
*Winner kpop band – in discussions to bring them to London before their army service starts in January.
*Kpop European Tour – announcement on this ‘over next few weeks’
*SBS – ‘we have announcements we will be making with them as well’
Formula E:
*Formula E zoom call next week.
Corporate:
*CFO announcement
*CEO announcement
Great to see such large support from existing institutions and new institutions.
Canaccord added 26 million shares.
So next years revenue (which they have confirmed they are on target for) will be more than the Enterprise Value of the company. Having tripled for two years in a row!
Very positive. I think people will be scrambling to get back in today.
*No litigation. Contract continues to operate as expected.
*Record month in Oct. Nov and Dec expected to grow month on month.
*On target for market expectations for 2022 and 2023.
*In active discussions on a number of significant global revenue opportunities, including additional resellers, licensors and media agreements, with anticipated contracts in FY23.
What MB says certainly seems to fit.
£400k put in for the 10m share.
£200k as the ‘Asian investor’ in the placing earlier this year (27th July RNS) and £200k this week.
So £400k into the company.
Cash was $115m in mid August. It’s dropped by $22m.
Auctus now assuming ONP won’t reopen until Q3 2023. Another year away.
Real mixed bag. Think we’ll head lower today.
Yes. If it’s 100% to LVCG then it’s a material upside to the profit to LVCG.
Either it’s neutral or positive (switching partners or 100% to LVCG).