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Comparable valuations- CHIF valuation is dirt cheap
E-BET (fully diluted): ~$320 million
GMBL: $238 million
SLGG: $135 million
GMBL is roughly the mid-point valuation. At that valuation, CHIF would be trading at ~$12.50. That ignores the share reduction plan already communicated by the company.
E-BET, with minimal revenue, PEAKED at a valuation north of $800 million with a similar float and share structure (fully diluted).
Great presentation at HC Wainwright
Not any new information to those that follow the company closely, but well-delivered and the roadmap is impressive. The current market cap is woefully low in relation to the opportunities ahead (and comps like Humbl) IMO.
Corbett will be doing meetings with investors during the day so let's hope it sparks interest in the stock.
What exactly are you expecting?
Finally something positive for shareholders from Mr. Stephenson? If so, what will it be?
HC Wainwright Conference on 4/27
Management confirmed that they will be doing meetings at the fintech conference next week. Making this announcement in front of that conference makes perfect sense to me now.
Institutional investors will support this through uplisting at least
Dips will be bought to increase position sizes and support the company as it moves toward uplisting. Great news.
I agree
Corbett has a WS investment bank lined up to assist in this process. He almost certainly has positive announcements lined up to announce and boost the stock price. He didn't get institutions to buy at higher prices without laying a roadmap to boost the stock price a lot higher.
Relax and let the stock price do it's thing. I think all shareholders will be very pleased.
Humbl has a ~$10bn valuation factoring in convertible preferreds. 1/10th of that and this is a $3 stock.
Could see some Humbl sellers move in here
The valuation disparity is even more shocking when you factor convertible preferreds into Humbl's valuation
They removed the tweet from the parody account
I hope the assign social media responsibilities to someone else. At the very least, give more explicit instructions on what to post.
Question
Why does it take months to approve/process a corporate action? Bizarre set of circumstances that has never been clearly explained.
I hope we get some answers soon.
N$AV is moving forward with deals
I would hope that a week without updates means Silverback is close to signing at least one deal and we'll hear about it soon.
Comps setup for a healthy valuation once the deals are announced.
Comparable share structure too
E-bet has 16-17mm shares outstanding on a fully-diluted basis and the float is comparable, assuming exercise of the over-allotment option, to CHIF.
Sets a nice comp.
Update on newest public comp
E-sports (E-BET) now trading at a market cap of over $800mm (fully diluted). CHIF would have a stock price of over $40 at a similar valuation.
Silverback needs to get something done soon.
Management confirmed they'll be at the HC Wainwright Conference
April 27th if you care to sign up. Looks like a good lineup of companies.
Absurdly cheap on a relative basis
No question about that. The Humbl guys figured out IR and have done a masterful job. Corbett has been more low key to this point, but I think we're on the cusp of a wave of announcements including product launches (app, kiosks) and partnerships.
I think the market has lost sight of the fact that the iPSI stablecoin has funding commitments already too. Everything is ready to go.
Good news- company will be making more presentations in the next few weeks
Looks like the slide deck introduced in the YouTube video from yesterday will be the basis for additional presentations to investors over the next few weeks. I know that there is a HC Wainwright conference taking place in late April. I hope they are presenting there.
Thanks
Don't think the company will update today, which is a good thing IMO. Coinbase dominated the discussion today, so not much point getting in the way of that.
Thanks for sharing
Been a week since the last set of updates, so I hope we hear something today. JT usually sends out the updates around mid-day, so we shall see.
Any update on Pacer related to Jake?
Thanks in advance if you have an update.
Another public comp to monitor
Esports Technologies (E-BET) is supposed to go public this week. Price range was raised and the company is expected to have a market cap of ~$90mm (fully diluted). Early-stage and not much revenue to speak of yet. This one will have a thin float too as they're only offering 2mm shares, which makes the float roughly comparable to CHIF.
Probably pinned around here
Until the update from management regarding corporate action and other matters. As I stated before, I think we found the floor and upside will be dictated by upcoming management actions.
Stability is a good thing for this stock and I'm personally pleased at the approach to investor communication.
Shareholder communication is improving
Obviously, the most important issue remains to be addressed. That said, the nitwit that was running the shareholder page seems to have been taken out of the process, which is a great thing. That certainly helps IMO.
Thanks
SEC should really clamp down on this kind of activity. Sets a dangerous precedent when accusations without formal, substantive legal complaints end up in PRs and hurt shareholders.
Question for you
Since you're on top of the legal filings, has Noch actually filed a legal complaint? If you read the PR from 3/29, he only states that he's evaluating his options.
Thanks.
I'd suggest you avoid looking at the stock for a month
Come back in May. I think you'll be much happier after some of the outstanding issues are resolved and some of the positive catalysts play out.
I disagree
It can't get appreciably worse from here. As for the upside, I don't know how much the stock will recover, but if someone were entering here, I wouldn't dissuade them.
I think that would be well-received
A number of us advocated from the start that the right approach would be to increase the OS and AS (if necessary) and keep the float (ie. existing CLHI shares) the same. Benefits all parties concerned. Unfortunately, Stephenson got bad advice from someone (I believe the IR guy and perhaps Percy, but I can't confirm the latter) and acted on it.
He'll need additional shares to do acquisitions, but he can manage the flow into the market through the issuance of preferred shares as you suggest.
Thanks for confirming my view
Always appreciate your contributions as they reflect deep thought and insight.
Have a great remainder of your weekend.
If Stephenson is serious about doing an investor call in May
Then he would presumably have a resolution to the RS mess on the table and ready to announce prior to that. That's my thinking, but my confidence level in that assumption is moderate at this point.
They know of material events
That's why they can't buy as you suggest.
Let's hope they disclose the acquisition they've alluded to is disclosed this week.
Keep in mind
Those projections are almost mostly dependent on acquisitions. Nothing wrong with that, but acquiring companies will require a strong (ie. highly valued) stock price AND market cap. Rob needs to wise up and make better decisions to reach his goals.
Let's see if the message has finally resonated and he does the right things.
Question
Am I correct in my interpretation that CHIF obtained the options and intended to exercise them if Sosa won its lawsuit against Spotify and obtained a monetary reward? Why else would they issue notes in such a large amount (with an implied valuation of over $850mm for Sosa and PMR combined)?
Seems to me that CHIF was smart to structure the investment as an option contingent on a potentially lucrative outcome. It didn't pan out, so they walked away as they should.
In my view, Noch has no argument, but he's probably trying to angle for some shares so that he goes away. I hope the company fights this and gets a quick judgment in its favor.
Moving forward with acquisitions and investments
In my view, clear indication that the lawsuit is baseless and not going to impede further business development. Perhaps an overhang for some traders, but holders should be fine.
He's basically a kid
I think you give him a lot of credit for being savvy. There's plenty of unscrupulous counsel out there to go along with plans like this.
I think the company, probably with Silverback's help, will put out a proper rebuttal, likely in PR form, shortly. Responding quickly via Twitter, would have been inappropriate IMO (even though the claims probably didn't merit anything more substantive).
Blame management
They basically said nothing to look forward to until the end of April. They haven't given ANY reason for a long to have confidence, but there was a glimmer of hope in the last update. That's not enough for the catalyst/short-term traders, but the believers, whether in the company or the end markets (I side more with the latter at this point), probably stick around at least at this price.
They should have had a response to the reverse split issue by now.
What are you referring to?
Can you elaborate?
Probably true
But they do care about the stock price (have seen comments from Stephenson that show he cares about that). At this point, the RS, as currently proposed, doesn't get them above listing requirements, so it's silly to proceed as planned.
I imagine a reduction in the ratio is in the works.
Mildly optimistic update
Not a lot of substance, but perhaps they will make some changes to appease shareholders. Lot of work to be done to regain trust.
The child running their social media
Needs to be replaced as part of a complete overhaul of their corporate communication.
It's unfortunate that they refuse to accept and act on constructive criticism.
Avoid reading our only source of information from the company?
That makes no sense.
The better answer is to push for the company to communicate clearly.
What news?
I don't see any release yet.