Member Info for WolfofWarks

Hi Poor - can't call this at the moment with regards to short/medium term.

I'm taking two positions with a ten year time horizon with this being one of them to build up slowly over time and not worry about SP.

I’ve just had a look through the accounts and annual report and I can’t see any evidence of a borrowing facility being in place, let alone any mention of covenant testing requirements.

The China problem for me isn’t necessarily around mining but the fact that it dents the ambition of crypto become more mainstream without the support of the world’s most likely largest economy.

That’s another thing that won’t help valuation. USD currently at 1.41 which makes income in USD less valuable once translated into GBP.

I’m more of a pickled onion monster munch type.

I once bit the toes off and saw his holiness the 14th Delia Lama.

I’m unsure how it could work this early on without knowing who the funder is as the DD has to be a two way process. It makes sense to me that the client company would know to know who the funder is just like the funder will want to know who the client is before anything is formalised. Otherwise why would you risk committing the money for the fee?

Not to say it doesn’t happen. I’ve seen funding get to a very advanced and expensive stage and the borrower has walked away when the lender was becoming too onerous in their demands.

The closer btc gets to becoming mainstream cash the less it will be seen as a store of value and compared to gold.

I agree with the OP and I think diversified investors should hold both.

I'm expecting things to ramp up Jul/Aug/Sep.

The key to the business review is now a movement on the signing of the funder for me. If they are there or thereabouts we should be ready to rock.

I think the red herring will be the due diligence fees that folk are expecting that possibly won't be there or will not be the £2.3m expected.

If you guys are investing via SIPPs don't forget that you can get tax relief on all your contributions at either 20% or 40% (depending on what rate you pay) if it's not done through your employer, providing your contributions are not maxed out.

Well worth filling out a self assessment or seeing an accountant if you're making large contributions.

Hi lotto - is it not scarcity (mixed with demand) that makes commodities valuable?

I’d say there is a correlation with Crypto in that respect.

The accounts will contain a forward looking business review signed off by then board/auditors so next week will give us the best update we’ve had for ages.

This time next week we should have a good idea of how much cash we have, an update on the acquisition, detail on whether funding is still an issue, actual interested clients and their value (net originations), etc.

Uncle Bruce - how comes you topped up three times? Are you not getting clobbered for fees?

Crypto is volatile it’s not exactly a surprise. Just look at the history.

A buying opportunity.

Everup - this is what I was saying at the weekend. It doesn’t matter about the fundamentals, balance sheet, etc. ARB will always be at the behest of the crypto pricing.

For me it’s a cheap way to buy bitcoin.

Do one of two things, buy now and ignore for ten years or buy low sell high ..... rinse repeat.

If the company goes under the IP is probably worthless anyway.

Sunday roast - Yep I remember reading ‘whenever everyone is selling buy and whenever everyone is buying sell.

I’d say it’s similar to what syme do but in respect of services, not goods.

However I’m not too sure how attractive it would be for the funder as those that invest in SYME’s product have security in the form of the underlying goods. A SaaS client clearly doesn’t have this so what happens when they get in trouble?

Hi poor - yep knocking CFDs in the head. They’ve pretty much wiped out any gains I’ve made this year. It’s been sh it’s so far. Plus going through a prolonged busy period at work so have been working 10-12 hours a day and can’t keep an eye on anything.

Hi poor. Unfortunately not and my stop loss got knocked out at £1 so I’ve took a bit of a hit this time round.

I’m waiting on a decent chunk of cash in around a months time to start dropping into this years ISA. Could do with the dip extended a while longer for my own selfish purposes.

Going to buy some actually shares and holding, sorry hodling!

Her funds are positioned terrible for the current market condition but id still trust them as a long term bet.

Decent entry point I would say