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BLU Blue Star Capital Plc

0.035
-0.0025 (-6.67%)
18 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Blue Star Capital Plc LSE:BLU London Ordinary Share GB00B02SSZ25 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.0025 -6.67% 0.035 21,867,019 10:44:16
Bid Price Offer Price High Price Low Price Open Price
0.03 0.04 0.0375 0.0325 0.0375
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Investors, Nec -784k -1.3M -0.0003 -1.00 1.5M
Last Trade Time Trade Type Trade Size Trade Price Currency
15:19:22 O 294 0.0373 GBX

Blue Star Capital (BLU) Latest News

Blue Star Capital (BLU) Discussions and Chat

Blue Star Capital Forums and Chat

Date Time Title Posts
13/3/202415:21Blue Star Capital (BLU) - investing in new technology14,536
22/1/202414:47A new technology play7,229
15/3/202307:28Once in a BLU Moon?2,900
01/2/202219:47Who Loves Blue Star?738
04/11/202012:21Blu to 0p10

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Blue Star Capital (BLU) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-03-18 15:19:230.042940.11O
2024-03-18 15:18:420.0413,4045.00O
2024-03-18 13:46:040.031,8880.57O
2024-03-18 12:40:320.041,3400.50O
2024-03-18 12:19:240.033,524,7761,155.07O

Blue Star Capital (BLU) Top Chat Posts

Top Posts
Posted at 18/3/2024 08:20 by Blue Star Capital Daily Update
Blue Star Capital Plc is listed in the Investors, Nec sector of the London Stock Exchange with ticker BLU. The last closing price for Blue Star Capital was 0.04p.
Blue Star Capital currently has 4,992,772,996 shares in issue. The market capitalisation of Blue Star Capital is £1,497,832.
Blue Star Capital has a price to earnings ratio (PE ratio) of -1.00.
This morning BLU shares opened at 0.04p
Posted at 13/3/2024 11:17 by 888icb
It’s All About Satoshipay
It’s all about Satoshipay as it always was. I first bought into this years ago because I liked Satoshipay. Tony was the architect of this and if you recall a few years ago we almost became Satoshipay by way of a proposed reverse takeover to use BLU’s listing. Perhaps we should dust off that plan!

It’s very straightforward now and it hinges on what you think our share of Satoshipay will be worth. As of this morning our market cap is £2 million and Dynasty is worth £450000. Our share of Satoshipay is therefore being valued at circa £1.5 million. So if you think Satoshipay is worth more than £1.5 million you may consider buying at today’s price. I think most people who have stuck with BLU to this point believe Satoshipay is worth multiples of £1.5 million.
Posted at 13/3/2024 09:00 by different world
Sad news - will this be the end? How can BLU carry on realistically?

It's a hotch-potch of odds and ends, and even Satoshipay is doing nothing. I was a holder of a lot of shares here way back, sold some at a modest profit, some at a modest loss, but this is very bad news indeed.

I'd head for the exit and kiss it goodnight if I were still holding. No value here now whatsoever.
Posted at 13/3/2024 08:29 by 888icb
The market cap yesterday was only £3.5 million so the market wasn’t valuing Dynasty at £5 million. It’s clearly very disappointing news but it was in the share price already. BLU has always been about Satoshipay and if you still believe Satoshipay will come good todays fall provides a very cheap entry point.
Posted at 14/2/2024 16:40 by jack jebb
Cheap share price, in nominal terms, for a reason.
Posted at 17/1/2024 19:50 by 888icb
The Directors will be paid with shares and won’t receive any until October:
“ Additionally, in line with the Fundraise and to facilitate immediate free cash to be used for working capital purposes and to assist in delivering the strategy of the Company, the Directors of Blue Star have agreed to receive their remuneration in ordinary shares in the Company, in lieu of cash, on the same terms as the Placing Shares, which include Warrants, for the period between 1 February 2024 and 30 September 2024. The Directors will not be issued ordinary shares or Warrants until after 30 September 2024. A further announcement will be made in due course.”
The Directors are essentially not being paid until October at the earliest which seems very commendable to me and demonstrates confidence that at least one of the major assets will have been monetised by then as per the RNS:
“ The proceeds of the Fundraise will be used by the Company for working capital purposes and will provide the Company with working capital headroom until September 2024, in line with the Company's forecasted monthly cash burn rate and the anticipated disposal of the Company's shareholding in SatoshiPay”
This is looking very positive and proper credit should be given to Tony Fabrizi for all his efforts and working for nothing until he achieves some good results. His share options don’t kick in until the share price is much higher than the current share price
Posted at 16/1/2024 12:51 by 888icb
Satoshipay hasn’t been on sale for 6 months or indeed at all. BLU have been investigating selling their stake in Satoshipay for six months which is a totally different proposition. How do you sell your shares if you haven’t got the information we would like to show a prospective buyer. Who wants to buy shares in a private company where there is no market in the shares. BLU are trying to get a valuation by using Benchmark but I think they will have a tough time to get a valuation. We need an IPO or a trade sale to get proper value. Some years ago Tony said he thought the most likely outcome was a sale to a large financial institution. HSBC have just launched a product to compete with the on line money transfer companies so perhaps another Bank would like to Buy Satoshipay.
Posted at 06/11/2023 11:07 by oakville
Guild about to be taken over by SKY according to some news platforms. What would that do to the BLU share price?
Posted at 09/8/2023 11:06 by 888icb
This morning’s RNS:
“ Googly announces significant partnership with the Caribbean Premier Cricket League
Blue Star Capital plc (AIM: BLU), the investing company with a focus on esports, payments, technology and its applications within media and gaming, notes Googly Media Holdings PTE. Limited ("Googly") recent press release announcing that Googly & the Caribbean Premier League ("CPL") have signed an agreement to launch the E-sports Caribbean Premier League ("ECPL).
The CPL ranks among the world's foremost sporting leagues, drawing over 720 million annual viewers for its T20 cricket competition. In this year's tournament commencing on August 16th, CPL enthusiasts have the opportunity to engage in the ECPL on Googly, a cutting-edge esports and gaming platform from India, enabling them to represent their preferred teams. The ECPL, featuring a $25,000 prize pool, spans 7 weeks and three stages. Each CPL team (Barbados Royals, Guyana Amazon Warriors, Jamaica Tallawahs, St Kitts & Nevis Patriots, Saint Lucia Kings, and Trinbago Knight Riders) will hold Open Qualifiers on Googly's esports platform to discover their mobile esports representative. One of the supporting partners of the inaugural ECPL on Googly include Nextwave Multimedia - publishers of World Cricket Championship 3 ("WCC3") which is the official game of the ECPL and has 80 million downloads worldwide.
Googly is a Blue Star investee company and business partner of Blue Star's portfolio company Dynasty Gaming and Media ("Dynasty"), Blue Star holds a 0.6 per cent. interest in Googly.
Tony Fabrizi, Executive Chairman of Blue Star Capital said that: "The Indian gaming market continues to enjoy strong growth and Googly's agreement with the Caribbean Premier League is a tremendous launch pad for Googly. We look forward to further announcements on this initiative and many others planned by Googly later this year."

BLU has responded with a rise of 8.3% but so far low volume of 5.6 million from just 10 trades.
Posted at 09/2/2023 10:45 by highly geared
Reminder of the portfolio and potential from the 28 September 2022 update:

Esports portfolio

The Company made initial investments in November 2019 of GBP900,00 in aggregate into a portfolio of six early-stage companies, investing approximately GBP150,000 into each business. At the time of making this investment the Board decided that, due to the early-stage nature of the investments and sector, a portfolio approach was most likely to prove successful. Since making this initial investment, the Company has made two smaller investments of approximately GBP115,000 in September 2020 into a new esports business called Formation Esports Investment and approximately GBP60,000 in September 2021 into Paidia Esports Inc. The Board is pleased to report that the overall performance of the esports portfolio has been strong.

Of the eight esports investments, the best performing is Dynasty Gaming & Media PTE. Ltd ("Dynasty"). The Board notes that the investment into Dynasty has been very successful and fully justifies the decision to pursue a portfolio approach. Unlike the Company's other esports investments, Dynasty is a pure B2B infrastructure business, having developed a powerful gaming and media platform ecosystem for mass market deployment. The Board believes that Dynasty's success to date in securing large contracts clearly demonstrates the inherent value in this business.

Dynasty's partners include:

-- Saudi Telecom Corporation, the largest telecom carrier in the Middle East with which it signed a 2-year SaaS contract in October 2020.

-- Maxis Bhd., Malaysia's leading telecoms operator. Initial traction has far exceeded expectations with increasing functionality being continually added. Maxis Bhd. has approximately 11 million customers.

-- New Zealand's largest telecommunications and digital services company, which enjoys a dominant market position and premium brand presence. The platform is scheduled to launch in November 2022.

-- Lets Play Live Ltd - Australia's largest tournament organiser and gaming content creators. Scheduled platform launch January 2023.

In addition, the Board understands that a number of other multi-year contracts, which are subject to confidentiality, have been signed.

In terms of new business, Dynasty has a large number of contract discussions ongoing with large global telecoms operators and tech businesses. The scale of these contracts is expected to be significantly larger than the company's existing partnership agreements and, if secured, will position Dynasty as the global leader in B2B white label gaming platforms.

As previously highlighted, Dynasty's business model has evolved and all new partnership agreements contain both fixed licence fees and managed services revenue share. While Dynasty's initial commercial model was based on collecting monthly licence fees over a minimum 24-month contract, moving forward, all agreements will see Dynasty supporting its partners with a managed service solution. Dynasty provides dedicated in-country resources, working exclusively with their partners in all areas of engagement and monetisation, to help maximise commercial outcomes. Under the new hybrid model, Dynasty enjoys a significant portion of all platform revenue generated, in addition to licence fees.

Since first investing in Dynasty, the Company has maintained its shareholding at approximately 13.7 per cent, investing in total GBP895,000. The last external valuation of Dynasty took place in April 2021 when it raised USD$5million on a post money valuation of USD$50million. Since then, Dynasty has announced a number of new contracts, developed a new, more attractive business model and confirmed significant interest from potential partners and strategic investors.

The Company is currently carrying the investment in Dynasty at the last external valuation of approximately GBP4.6million. For the reasons highlighted above, it is the Board's belief that Dynasty's valuation should have increased significantly since the company's last fundraise and should be worth considerably more than the current carrying value. Furthermore, the recent strengthening of the US dollar against sterling means the current carrying value of the Dynasty shareholding is over GBP6m based on current exchange rates.

The second significant esports investments is in Guild Esports plc ("Guild") in which the Company has invested a total amount of GBP705,000. Guild initially performed strongly and listed on the Standard Segment of the Main Market of the London Stock Exchange in October 2020 at 8p per share valuing the business at GBP41.2million. At that time the Guild investment was showing an unrealised gain to Blue Star of approximately GBP1.75million. Since its listing, Guild's share price performance has been disappointing and is currently standing at around 2.7p. In order to raise working capital, the Company has recently reduced its shareholding in Guild to approximately 22million shares, representing 4.3 per cent of Guild. At this time, based on the current share price and proceeds from disposals, the Company is around break-even on its Guild investment. However, the Board is pleased to note the positive announcements from Guild in the last few days and its share price strengthening and remain hopeful that Guild's recent stronger performance will continue.

The remaining esports investments are carried at cost and, in light of little news, for prudence, the Company will be looking into the potential write-off of most of the smaller esports investments within the next financial statements to 30 September 2022.

In summary, the existing esports portfolio has a combined cost to date of GBP2.375million and taking the proceeds raised from selling approximately 1.5 per cent of the Guild position and the current carrying values of the remaining Guild stake of approximately GBP600,000 and Dynasty (applying current exchange rates) and ignoring the remaining six other esports investments, has a combined value of approximately GBP6.70million which equates to an unrealised gain of around GBP4.35million.

Other Quoted investments

The Company's other quoted investments in NFT Investments and East Side Games are non-core and will be sold as and when an appropriate opportunity arises. They have a current carrying value of approximately GBP135,000.

Blockchain investment

The Company's second core investment is in SatoshiPay. This investment was made in increments between January 2017 and July 2017 with a total amount invested of EUR1.87million. Post these investments, the Company attempted to carry out a reverse takeover of SatoshiPay at the end of 2018. This proposed transaction was aborted due to difficult market conditions at the time. A small convertible loan of EUR200,000 to SatoshiPay was converted in February 2019 taking the Company's shareholding to 27.9 per cent of SatoshiPay's issued share capital.

In the last two years, SatoshiPay has made a number of fundamental changes to its business model, most notably:

-- Changed the focus away from its micropayments business which was the company's initial market priority. Although the technology works well, the business was too early and the market opportunity still in its infancy.

-- In early 2020, SatoshiPay announced it was refocussing on B2B cross-border money transfer through blockchain with the launch of DTransfer. This was identified as a major global market opportunity which had scope for disruption through blockchain. Since switching focus, SatoshiPay has made solid progress in building DTransfer by signing up customers and building partnerships.

-- While building DTransfer, it became clear that the blockchain infrastructure required to launch Dtransfer as a complete solution still needed refining. This encouraged SatoshiPay's management to seek out ways of providing and supporting this infrastructure, which led to the inception of Pendulum.

-- Pendulum's development started in the first half of 2021 as an open-source blockchain built on the stable and existing Substrate framework. Its objective is to establish the missing link between fiat and the DeFi ecosystems through a network of sophisticated smart contracts. Pendulum's Layer-1 infrastructure will connect DeFi to the foreign exchange market, building automated market makers (AMMs) to introduce scalable liquidity pools for fiat currencies, and create yield earning opportunities for fiat token holders.

-- Having built the first prototype of Pendulum at the end of 2021, which featured a bridge to Stellar and an AMM smart contract, Pendulum has subsequently developed a fully functional testnet and prepared a launch as a Polkadot parachain.

-- In more recent months, the Pendulum team has continued development and achieved all of its internal milestones. In addition, recent external achievements include securing a place on the Berkeley University blockchain Xcelerator program and receiving a grant from the Web3 Foundation to build a bridge (Spacewalk Bridge) between Stellar and Substrate-based parachains.

-- Most notably, a second parachain project, Amplitude, was launched by the Pendulum team in June 2022 and was successful in winning a Kusama parachain auction on 4 July 2022, achieving $1.2million in contributions. Amplitude went live on 11 August 2022 and serves as a testing ground for the future Pendulum parachain, with new features first being rolled out on Amplitude.

-- Pendulum has so far raised $5million for its further development by the private presale of future PEN tokens. The Board understands that Pendulum intends to carry out a further private presale before the listing of the token.

The Board notes that placing a value on SatoshiPay is highly subjective given the early stage nature of its business interests. In looking at SatoshiPay's valuation, the Board has taken the following key factors into account:

-- The business is, through its relationship with Pendulum, fully funded for the next year so there is no need for any equity injection into SatoshiPay.

-- SatoshiPay is now generating monthly revenues and was profitable in the year ended 31 December 2021 and is expected to be profitable in 2022.

-- It has a close relationship with a number of large crypto organisations such as Web3 Foundation, Parity and Stellar Development Foundation and a growing reputation generally in the blockchain ecosystem.

-- It has successfully executed the first private presale for Pendulum and secured approximately 5.5 per cent of the future PEN tokens for services rendered.

-- If the Pendulum network can successfully connect De-Fi to the larger foreign exchange markets, building AMMs to introduce scalable liquidity pools for fiat currencies as well as creating yield earning opportunities for fiat token holders, then Pendulum should be well placed within the De-Fi space, a market which is currently estimated to be valued at $55billion in total value locked.

-- SatoshiPay has successfully incubated the Amber AMM Project for which it has secured 5 per cent of its future tokens. Amber is a novel AMM design for low-risk, single-sided liquidity provision, significantly lower slippage and fees compared to other AMM designs.

-- It is well placed to earn fees and accumulate tokens in existing and new De-Fi projects.
-- SatoshiPay owns 100 per cent of DTransfer which remains a highly attractive opportunity.
The current valuation of SatoshiPay is based on the last external fund raise which took place in February 2019. Since then, SatoshiPay's business has changed considerably and, in the Board's opinion, SatoshiPay's prospects, while still difficult to accurately value, are significantly improved. Given these factors the Board believes the current carrying valuation for SatoshiPay of approximately GBP4.8million could significantly understate its current market value. Based on this latest valuation and the investment to date of GBP1.8million, the investment in SatoshiPay is showing an unrealised gain of approximately GBP3million.

Biometric business

Sthaler is a biometric identity and payments technology business which enables an individual to identify themselves and pay using the unique vein patterns within a finger. Its FinGo ID platform uses a biometric called VeinID which instantly recognises an individual through the unique pattern of veins inside each finger. The FinGo technology scans each person's unique vein pattern, an internal biometric that cannot be traced or copied, making FinGo the most secure and inclusive way to connect.

FinGo's technology is relevant across so many sectors and industries ranging from payments, age verification, identity and access. Sthaler are currently launching FinGo across a number of countries and sectors either directly or through partners.

Blue Star's percentage shareholding in Sthaler was approximately 0.8% at 30 September 2021 and is valued on the basis of Sthaler's last completed fundraise at approximately GBP387,000. The cost of the Sthaler investment is GBP50,000, representing an unrealised gain of GBP337,000. While the Board believes Sthaler is an excellent business with enormous potential, the small size of its shareholding means the Board are treating Sthaler as non-core.

Conclusions based on portfolio review

Based on the current carrying valuations of Dynasty, SatoshiPay, Sthaler and the market price of the quoted investments the portfolio has a current value of approximately GBP11.9million which is equivalent to an estimated NAV per share of approximately 0.24p.

For the reasons highlighted above, the Board believes there is significant scope for this figure to materially increase over the next twelve to eighteen months. Accordingly, the Board intends to focus its attention and resources on supporting its two core investee companies and does not anticipate making any new investments for the foreseeable future.

In addition, the Board intend to manage the Company with a focus on funding the business, insofar as possible, through the sale of its existing non-core investments.

The Board will cut all non-essential costs and is proposing to put in place a share option scheme on a time and performance basis. The terms of the option scheme will reflect the Directors belief in the inherent value of the two main investments. Details of the scheme will be announced later this year and will cover a maximum percentage of 5 per cent, maximum life of 3 years and proposed exercise prices of at least 0.35p per share.

Long term strategy

The Board believes the two major investments have the potential to provide significant value for shareholders and the focus will therefore be on managing the Company to maximise the prospects of achieving a successful exit of these investments within the next two years. Assuming this can be achieved the Board intends to consult with shareholders to decide on the most appropriate course of action to ensure shareholder interests are best served.
Posted at 26/1/2023 06:54 by jack jebb
Lets see if my theory of a correlation between BLU share price and Polkadot is correct.

Polka was 6.16 yesterday and 6.43 right now.
Blue Star Capital share price data is direct from the London Stock Exchange

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