Argo Blockchain Share Discussion Threads

[roger207] 17/9/2019 12:31

Their crypto is less than £3m does not cover outstanding payment

[supercity] 17/9/2019 12:29

Note 9 is very clearDisposal of crypto asssets - zeroNone have actually been sold to date

[zed2002] 17/9/2019 12:20

Yep so $13.09m is around £10.5m

We have £5.6m which they can use this as upfront and the rest in crypto (no need to convert to fiat as can pay with bitcoin) before shipping. This will pay for 5000 mining machines

[crapcrap] 17/9/2019 12:12

if you look at the past RNS's you will see that they will pay half up front
and half on delivery.
or you could just phone the office and ask. they are no mug AIM outfit

[stoneme] 17/9/2019 11:59

The new hardware is expected to be delivered at the beginning of November

[stoneme] 17/9/2019 11:59

Have they paid for them yet?From July announcement The Company has ordered 5,000 Antminer S17s at a total cost of approximately $13.09 million USD, of which 50% is being paid immediately, with the remainder to be paid five days before shipment. The purchase is funded from a combination of cash and cryptocurrency mining assets.

[danatkins] 17/9/2019 11:57

Just out of interest hxxps://cointelegraph.com/news/250k-bitcoin-price-prediction-is-now-conservative-says-tim-draper

[scotty666] 17/9/2019 11:35

Roger - Unfortunately no one was giving lots of new shiny kit away for free so they have had to pay for it

[zed2002] 17/9/2019 11:33

Roger207: The reason why cash position has decreased is because they invested in Mining Equipment. Have you actually read the RNS?

[roger207] 17/9/2019 11:31

Profit was declared operationally. Cash position is decreasing rapidly. Does this the way crypto business work? Can Genius people who get A* mark in exams explain.

[chrisan101] 17/9/2019 11:24

Corrected yes note 4 2.7

[scotty666] 17/9/2019 11:22

No they recognize it when mined. Read note 4 with note 9

[chrisan101] 17/9/2019 11:21

I think I Disagree read note 9. Their Revenue should only be recognised once they sell the BTC. Of which 2.7m was sold. If they never sold then their wouldn't be revenue of which there is and it breaks down where that came from in note 9

[scotty666] 17/9/2019 11:18

Roger207 correct cash burn was high well despite making a profit. Well done that would probably give you 1 out of 10 marks in an exam question to review the cashflow - or an F or 2 depending if you use the new or old grading scheme.

[scotty666] 17/9/2019 11:15

1. They give updates if their is a material change in guidance, I have not seen them promise to give monthly trading updates that is not normal - do you see this happen on any other stocks?

2. The results are to the end of June, as you say they did not dispose of any BTC which only really took off in June - that was a good move considering BTC went to $12k don't you think?

[chrisan101] 17/9/2019 11:14

Buying Assets with the cash, I don't have a problem with that

[scotty666] 17/9/2019 11:08

Blimey what a load of nonsense

[ragnarr] 17/9/2019 11:07

Simple - none ejit

[roger207] 17/9/2019 11:05

Cash burning in the last 6 months from December 2018 was £10.7 million despite making profit. How much more cash is needed?

[lithological heterogeneities] 17/9/2019 11:02

But I still firmly believe in the future of BTC and ARB as the potential here is absolutely mind boggling when they do start converting to cash.

[74tom] 17/9/2019 10:57

Yup, “Stoneme”; have you been smoking a bit too much and become super paranoid?

[crapcrap] 17/9/2019 10:49

pleased i'm not sat in a pub with you two!

[lithological heterogeneities] 17/9/2019 10:43

Totally agree.If they cannot convert BTC to cash then the company is "virtually" worthless.