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Further evidence of balance sheet strength
1. Net cash balance as of Sept Qtr end was ~$5mm
2. Quarterly cash burn in the Sept quarter was ~$500k. On an annualized basis, that's $2mm. So there is ample runway for a few quarters. In fact, the company stated this on page 13 of the 10-Q:
"Based on this current business plan, the Company believes its existing cash is sufficient to conduct planned operations for one year from the issuance of the September 30, 2021 financial statements."
3. Book value for for an early stage growth company is basically irrelevant. Anyone that invests in growth companies should understand that there will be negative retained earnings for some time until the company starts generating revenue. On the positive side, those accumulated losses will serve as net operating losses for tax purposes. That means, the company won't pay taxes for a while, which is a GOOD thing and positive for shareholders on a prospective basis.
4. The balance sheet doesn't reflect the market value of Frictionless Financial Technologies ("FFT"). Given AppTech Payments was valued at $130mm prior to uplist, it's reasonable to assume FFT is worth a lot more than the price paid for the investment, which is recorded on the books at only $500k.
None of what you wrote pertains to balance sheet strength
My comment pertained to the net cash balance. There is positive net cash and the cash burn is minimal.
Trading very well
The balance sheet is strong and we have a product launch coming up coupled with partnership announcements down the pipe. Once we get significant volume, I expect a spike to $0.10-$0.15 reasonably quickly.
Management incentives
The CEO has taken no salary the past two years and the other two officers received very little. They are incentivized primarily through warrants that have an exercise price of $0.20. Perhaps they have a grand plan for the for sale by owner website, but I highly doubt it. They haven't done much with it during the real estate boom over the past two years. Much like RBIZ, I think it's reasonable to expect that they are preparing NBLD for a reverse merger to realize value.
Yes, there will be dilution in any reverse merger, but the float will remain very low in any deal. Shares issued in reverse mergers are restricted typically for at least 6 months. Moreover, the room under the A/S means they can get a deal done quickly without having to get shareholder approval. That is attractive for a potential target.
If you look at Mr. McLeod's background (CEO), he has been a deal guy for some time. As I've stated before, I highly doubt at his age (69) that he's looking to spend several years growing what amounts to a startup.
There is target risk (ie. reverse merger partner), but at the current valuation, an absurdly low $92k, the risk/reward is exceptional IMO.
OTC markets profile and security pages updated
NBLD has a transfer agent and the share counts were verified. Market cap is now only $140k.
$0.35 is the basically the 52 wk high
Not out of the realm of possibility by any stretch. Need to see progress on some initiatives, but I believe we will.
Competitor with minimal revenue uplists
AppTech Payments (APCX) uplisted to Nasdaq today. Company had a $130mm market cap with minimal revenue ($260k) prior to an offering and reverse split in conjunction with the uplist.
At an equivalent market cap, IPSI would trade at $0.35. IMO, IPSI is targeting better end markets like remittance versus AppTech.
Having gone through audits
I can safely say that they can be time consuming and to get one done in a very short time frame for public reporting is interesting. The auditors might have expedited this knowing they get swamped early in the year, but getting it all done in a month is impressive to me.
Interesting trading today
4x the avg volume but the stock barely budged and traded in a narrow range. That strikes me as experienced traders accumulating (or perhaps Silverbear was assisting someone to find stock). Hope it foreshadows some interesting developments soon.
Seems to be coming together
Good to see they hired a reputable PR firm to spread awareness. I hope they've been working on acquisitions to increase scale as well.
Thanks for trying on that other matter.
Filed the 10-K early
Curious what the impetus was to file the 10-K early, which is basically unheard of for an OTC company. Perhaps they needed to filed audited financials to get a deal done? Time will tell.
It actually doesn't make much sense
Except that the Moshn deal is taking much longer than expected to close. Personally, I would have preferred they walk away and focus on other deals.
The share structure here is significantly better than the other Silverbear tickers. Lot of room to add value, but they need to get stuff done.
Effectively a shell with a great share structure
This stock is effectively a shell. There is an underlying business (a for sale by owner residential real estate website), but it generates minimal revenue. Moreover, it doesn't appear that they're investing much into the website. The officers take minimal salaries and are highly incentivized to increase the stock price to make money here.
There's ~1.7mm fully diluted shares outstanding so the market cap is ~$60k. That's ridiculously low for a clean shell (small amount of converts that are owed to officers). There are 1.4mm warrants outstanding, but the majority of those (1.2mm) have an exercise price of $0.20.
It's seems obvious to me that management is looking for a reverse merger partner. The new CEO is a deal guy and is older, so I doubt he's looking to pursue the long slog of building a business.
The company is an SEC filer, which is more than the vast majority of OTC companies can claim. Management isn't going through all of the trouble to list the shares again and have current filings to do nothing with the shell in my view.
Company now claiming that the 10-Q for the December qtr
Will provide answers to the company's revenue potential and other assets.
He's always been extraordinarily defensive
He doesn't like to be questioned or challenged as though he's the late Steve Jobs that had the right answers to everything (well, mostly). He says the company is much more than the Mozambique plant, but it's not reflected on the balance sheet (as you show in your message). He needs to help investors figure out the revenue potential of the business and the other assets.
I own some shares as option value on Ben finally fixing the reporting. Maybe the Al Fada note will prove valuable at some point. There's other assets like Wattoz that may prove valuable at some point too. Lots of imponderables that Ben needs to help investors understand.
Stock rebounded impressively
Very good sign that we're well past the bottom.
They hopefully understand data management
But they certainly don't understand the capital markets and shareholder value creation. That's unfortunate.
Just curious
What gives you such confidence in TDS management?
They filed financials
As to whether they make sense? I'll let you decide.
Ballout needs to do better than this. Stock basically has no downside at this point, but he needs to do a lot better in terms of communication.
Let's hope BB delivers next week
Lot of excuses from the company. Time to deliver.
If you can make sense of the tweet from today
Let me know. I can't understand what Ballout is trying to say. Will the fins be uploaded by the end of December or not?
Very good L2 support
Would be nice to have more volume, but for a non-news event day, it's solid. Looks like some patient buyers looking to fleece retail and take advantage of tax loss selling.
Any suggestions on how to resolve "Internal JSON-RPC error"?
I'm trying to synthesize but get that error repeatedly. I have Matic to cover gas costs, but that's not helping.
Judging by L2 today
I think we found a bottom this week. There was a lot of big buying (ie. several hundred thousand shares) in the high 1s. There could obviously be more tax loss selling that acts as overhead resistance but I think the buyers are back to chip away.
Churning through some tax loss selling still
But there's big buyers on L2. The run will come.
Still waiting on a number of other updates like partnerships. I imagine those will coincide with the official app launch.
Market cap and enterprise value are so absurdly cheap it's mind boggling.
GLTY
Added crypto buying to the App
Great new features to add. Also, can load a prepaid debit card, which effectively turns IPSI into a neobank.
The kiosk rollout strategy seems smart. Targeted to reach the intended audience.
Buying more.
It can run hard quickly
Just look at the chart from the early months last year. Undoubtedly, they've made additional progress, but OTC traders have short-term memory. They constantly need to be fed with new information or they lose interest.
I think the FFT investment alone is worth several multiples of the current price, but there's been little discussion about that.
I'm actually not disappointed that they moved away from kiosks as the vehicle to acquire users. That was capital intensive and there are better, more cost efficient, ways to grow the user base.
I'm also not disappointed that they're taking time with the IPSI app. Better to get that done right rather than release a buggy or otherwise problematic app.
Good to hear
Share price doesn't reflect anything because the company issues updates so infrequently. That's been the problem. There's also some tax loss selling, though that appears to have abated.
I imagine Mr. C will wait to update the markets until the New Year. That's probably smart, though frustrating.
Phenomenal share structure
Only 1.67mm shares outstanding so the float must be even lower. Alix, the former CEO, has been replaced by William McLeod.
William (Bill) McLeod, age 68, served as our President and as one of our directors since August 17, 2018. He has served as our Chief Executive Officer since April 17, 2020. Mr. McLeod has been a real estate business investor since 1978. He has been active in real estate development for over thirty-five years. He is currently the managing partner for McLeod Investment, LLC. Bill has also been active in medical surgical equipment sales until 2006. He remains a partner in Skype Comfort and Shoes Etc., both closely held medical equipment companies. Mr. McLeod brings to the Board his extensive senior leadership experience, his significant real estate industry experience, and significant professional relationships in the real estate and investment industries.
Hopefully they take advantage of the great share structure and do something with it (and find a better target than Anshu's).
Metaverse real estate NFT boom
https://www.coindesk.com/layer2/2021/12/14/get-ready-for-the-2022-metaverse-real-estate-boom/?utm_source=nomics&utm_medium=email&utm_campaign=newsletter
I think Mr. Craig is getting shareholders in at the ground floor on a big opportunity.
It's actually this link..
https://kok-chain.io/
You were missing the "h".
My hope is they are in the process of hiring a US IR firm
It would be in the company's best interests to get an English language firm to help craft PRs as part of the unveiling to the US markets.
Momentum is certainly building. It would also be nice if they listed MDM on a bigger exchange like Binance, FTX or Coinbase Pro.
Medium Mergycon Metaverse event today
Metaverse world in 'one click'... The launch ceremony for MergyCon 2022 was completed.
Reporter Kim Chan-joo Approval 2021.12.14 13:48 Modified time 2021.12.14 13:55 0 comments
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Introduced Metaverse that connects everything in the world with one scan
Mergy application to be released in June next year after final inspection period
? Myung Bae-young, co-CEO of Mergerity, is introducing and demonstrating the functions of the Mergerity application at the 'MergeCon 2022' event held at the Fairmont Ambassador Hotel in Yeouido on the 14th. Photo = Reporter Kim Chan-joo
? Myung Bae-young, co-CEO of Mergerity, is introducing and demonstrating the functions of the Mergerity application at the 'MergeCon 2022' event held at the Fairmont Ambassador Hotel in Yeouido on the 14th. Photo = Reporter Kim Chan-joo
Today Korea = Reporter Kim Chan-joo | Although the metaverse is gradually appearing, there are still unfamiliar parts, and a start-up that will provide a service that connects the online and the real world with a single click of a smartphone has appeared, attracting attention.
Metaverse startup Mergerity Co., Ltd. (Chairman Pan-Jong Kim, Co-CEO Myung Bae-Young) launched a company and service under the theme of 'The Beginning of Metaverse Lifestyle' at the Fairmont Ambassador Hotel in Yeouido on the 14th for the first time. He announced that the 'MergyCon 2022' event to inform the world has been successfully completed.
Mergeity is a combination of two words meaning 'merge' and 'reality'. It is a professional startup that has prepared a multi-metaverse platform based on AI (Artificial Intelligence) and AR (Augmented Reality). Specifically, Mergerity serves as a channel that connects the existing online world such as SNS to the real world.
Investors, media companies, and affiliates attended the event, and the demonstration was conducted in the order of ?SNS ?Commerce ?AR Cut.
In the opening remarks announcing the start of the event, Mergerity Chairman Kim Pan-jong said, “The non-face-to-face era opened after the COVID-19 pandemic has made us realize again that the virtual world is the future for all of us. It is emerging as a hot topic.”
Chairman Kim said, “But the reality is that people cannot experience and feel the metaverse and NFT.” “In this regard, ‘mergy’ developed by Mergyity is generalized so that anyone can easily access it by showing an infinite platform and metaverse through objects in front of them. , we will practice popularization.”
“In a reality where no one in the world can define the metaverse, Mergeity will take the lead as a leader in the metaverse through realistic multi-platform, reality-based metaverse, and blockchain NFT.” It will invite people into a whole new culture.”
In the second session that followed, the service was introduced and demonstrated by Co-CEO Myung Bae-young. Co-CEO Myung Myung said, “mergy is a technology that can create one metaverse for one object and create a multi-metaverse for all objects in the world. You will be able to experience the NFT economic system,” he said.
“It is a very meaningful day as the event to introduce mergy to the public for the first time has been successfully completed,” he said.
? Participants experiencing the Mergerity Metaverse at the 'MergeCon 2022' event held at the Fairmont Ambassador Hotel in Yeouido on the 14th. Photo = Reporter Kim Chan-joo
? Participants experiencing the Mergerity Metaverse at the 'MergeCon 2022' event held at the Fairmont Ambassador Hotel in Yeouido on the 14th. Photo = Reporter Kim Chan-joo
In addition, through a demonstration booth provided separately in the venue, attendees had time to directly experience the app and check the platform and metaverse that Mergerity wants to unfold. Experiencers were surprised by the new experience.
Meanwhile, the 'mergy' application, a multi-platform and multi-metaverse platform developed by Mergerity, established on September 1, last year, will go through the final inspection period and officially appear in the world around June 2022.
Metaverse announcement seemingly on Dec 14th
(FYI, most browsers have Translate plug-ins. Worth installing to keep following this company)
On the 10th, 'Mergyity Inc.' (Chairman Panjong Kim, Co-CEO Myung Baeyoung), a startup specialized in metaverse, announced on the 10th that it would introduce an innovative multi-metaverse platform 'mergy'.
Mergeity is a combination of two words meaning 'merge' and 'reality'.
The multi-metaverse platform 'mergy', introduced this time, connects all users around the world by integrating all objects and spaces into productive activities such as SNS, commerce, 3D assets, advertisements, and communities.
In addition, the moment you take a picture or character you drew, your own avatar is created, allowing you to have your own unique avatar in the metaverse world. It is also different from the existing service in that real-time communication with other users is possible through the avatar.
Startup ‘Mergeware’, established on September 1, 2020, developed and patented ‘Mergeware’, a driving engine that creates an optimal algorithm by convergence of AR and AI technologies within a year of its establishment. It even acquired a patent for 'instant recognition' technology that makes it three-dimensional as soon as it is taken and enables high-speed image search.
Mergerity unfolds a powerful metaverse incorporating NFT through blockchain technology. The virtual asset value can be converted into other cryptocurrencies as well as the purchase of assets in the metaverse world such as digital territories.
Pan-Jong Kim, the current chairman of Medium and co-CEO of Mergy, said, “The infinite scalability of mergy and blockchain have been added to complete the metaverse that has never been experienced before. It will be a multi-metaverse to provide.”
The multi-metaverse platform mergy will be unveiled in advance at the 'MergyCon 2022' conference to be held on the 14th.
?? : ??????(http://www.nextdaily.co.kr)
I agree
The motivation for the indiscriminate selling like we saw probably reflected both sets of factors.
We know from the filing in late November that the transition to Medium management has taken place. Now we need them to provide the introductory PR to shareholders and highlight some the fundamental attributes that many of us on this board already know about:
1. High-speed blockchain solution that meets enterprise requirements
2. Significant revenue and operating income already achieved with high growth rates ahead.
3. Tokens (MDM, KOK) with company treasury holdings meriting a much higher valuation. I also hope they discuss plans to list MDM on additional exchanges like Binance and perhaps a US exchange.
Lot of catalysts ahead. Timing for releases is the question.
Part of the sell-off had to be tied to crypto markets
Crypto is stabilizing and in some cases, rebounding hard today. KOK is still up considerably for the month despite a relatively modest pullback. MDM bounced off its lows too.
I was able to pick off some more yesterday too. There was obviously a motivated seller yesterday. Hopefully, they're done.
Good chance to buy LAND
Bit of a flash crash in crypto due to leveraged buyers having to liquidate. Hopefully it dragged down LAND prices so OWUV could accumulate.
Uplist to where?
QB? Nazz?
Probably a market sell order
Some clueless or careless trader. This will recover. Great news with the Silverbear team owning substantial positions. Time for MC Soo to add value.
Filings up to date, Silverbear guys now own shares
The latest 10q revealed that the two Silverbear members of the BOD own
1mm and 250k shares respectively. Interests are very well aligned.