Blue Star Capital Share Discussion Threads

[888icb] 26/1/2021 14:51

I certainly hope BLU is not looking for an out having stuck with Satochipay as its main investment for so long. Satoshipay has invested in and developed some class leading technology which is fully tested and have an excellent relationship with Stellar. The problem was the focus on micro payments which has not really taken off and the margins are very small. They have refocused on the rapidly growing b2b payments market which is absolutely massive. They have worked on this for a year but only launched the new product Dtransfer in September 2020. So in terms of judging it in the form that will make money it’s a shorter period than we have had the Esports investments only one of which has listed so far.
The Esports are looking very promising and should do very well for us.But be in no doubt that if Satochipay’s Dtransfer gains serious traction it will very quickly be a more valuable asset than all the Esports taken together. As a financial technology stock Satoshipay on ipo will be valued on its future potential not current profit/ loss.

[sixpintsid] 26/1/2021 14:48

Kernel,
I seem to remember pointing mentioning this last year. 2 employees, €250 of computer equipment now depreciated to zero. I know that they are abbreviated accounts and normally you would just put in the minimum requirements, but it does not look particularly good. Been holding since 2017, optimistically.

[kernel_pult1] 26/1/2021 14:20

I can't believe that I thought after all this time Satoshipay were registered in Germany, to only find out that they are a UK registered company on companies house!



If anyone who opposes my opinion wishes, they can look at Satoshipays losses themselves through the above link. It's quite a sobering sight though I will forewarn.

microscope - I agree - Anyone looking at future funding would be certainly put off if they are going by those accounts. Every year of audited published accounts is basically another chapter in the book. Unfortunately this particular book doesn’t make for very good reading up to now.

[microscope] 26/1/2021 13:58

Good discussion. Bottom line is that Meinhard probably regrets not having taken the BLU offer, and he is now (I suspect) stuck with a near 30% shareholder looking for an out, which will probably tie his hands when looking for any future funding. The increasing losses at Satoshipay speak for themselves and we need to see significant improvement in their numbers. It's likely be years before any worthwhile profit from them.Like many of you here I'm in it for the eSports. Dynasty's exclusivity in Malaysia is exciting and hopefully newsflow there and from other eSports holdings will drive BLU's share price forward.

[kernel_pult1] 26/1/2021 13:54

888icb, I commend your defending of Satoshipay, here is my response.

OK, if we are talking RNS's.... 27th Nov 2019 - 'As revealed at SatoshiPay's 2019 Launch Event on 26 November 2019, SatoshiPay is introducing a new service called "SatoshiPay B2B", allowing businesses around the world to conveniently execute instant cross-border payments of any amount'.

This is the date I have for Satoshipay venturing into B2B. I think differentiating between Satoshipay and Dtransfer is spltting hairs on your part as broadly speaking, they are operating under the same umbrella with virtually the same staff, etc, just under a different name. My start date for Satoshipay B2B is 27 Nov 2019, so not 4 months. I make it just over 1 year.

meganxmas - thank you for your response. I too am now almost solely here for Dynasty. Regarding your comments on software / technology business and losses - I note you've used the words 'early doors'. Whilst I agree some early stage tech companies make losses in the first few years of trading. Satoshipay is no longer an 'early doors' company. Satoshipay was founded in 2014. They have been trading for over 6 years.
If revenue was at a meaningful level then it is likely that the losses will not have been as severe as they are.

So sorry guys, but in this instance I'm going to have to respectfully disagree on Satoshipay.

[meganxmas] 26/1/2021 13:27

Dynasty is what got me into this a good few months ago. however have to comment on your analysis of satoshipay ... can look at the "losses" as losses or as monies invested and not capitalised. Have a look at most very successful software / technology business ... all the costs are incurred early doors bit when the turn comes it can be very swift with inceasing volumes dropping very quickly to bottom line. Not saying will happen with share price but could do. Just think your reaction isnt justified. Without revenues costs incurred in development of platform results in losses.

[888icb] 26/1/2021 13:27

Dtransfer was only launched in late September as stated in the RNS of 22/09/20 so the 11 clients mentioned on 15/12/20 had been acquired in less than 3 months. It stated new clients are being acquired every month. So as of today Dtransfer has been trading for 4 months and is not responsible for the losses you refer to and which are only to be expected in a new business of this type in any event.
So the Satochipay that will seek new finance is a new business and as such the accounts you refer to are essentially irrelevant as are your references to fundamentals.
You can’t judge a business on 4 months trading though having said that it’s quite an impressive start in a market that is growing rapidly.

[kernel_pult1] 26/1/2021 13:18

After unearthing that set of manure this morning I’m hardly surprised the selling pressure has been so strong!

[kernel_pult1] 26/1/2021 10:57

It frustrates me how Meinhard is talking about ‘unicorn‘; status when they lost an eye-watering €3.2m in 2019. It makes a mockery of that tweet which said they had a ‘successful 2019’.... judging by the bottom line on the accounts... I think not!

I’m afraid I’m at a point where I no longer believe anything Meinhard says until he can actually back up his word, as we’ve heard it all before with micropayments.

I do hope you are right ICB about Satoshipay achieving, I’ve not sold a single share here but things need to change immediately at Satoshipay if they are going to produce a result.

[888icb] 26/1/2021 10:41

The money is going to be made by Dtransfer which is barely a year old so I don’t think your comments about 6 years of no profit are particularly relevant at this point to what Satoshipay will achieve moving forward with a business Meinhart thinks can be a Unicorn.

[kernel_pult1] 26/1/2021 09:10

Bapodra,

I don’t have revenues but they

Lost €1.97m in 2018
Lost €3.2m in 2019

YE20 figures yet to be published but I suspect we are looking at another 7-figure loss

I accept that some early stage businesses don’t make money in their first few years however this is not an early stage business. It’s over 6 years old.

I’d at least expect them to be getting close to breaking even after all this time as a minimum

I’m not being unrealistic in my expectations am I?

[888icb] 25/1/2021 15:31

Recovering now down just 2.5% on volume of 34 million.

[doodlebug4] 25/1/2021 12:37

Good response from Mark White on the LSE board this morning.

"Guys, try stay chilled ! Unfortunately this does happen here at BLU when we do not get any news. I`m confident we will have news soon on a few of our investment fronts, and that the company has no intentions to do a placing. Cheers"

[jamins] 25/1/2021 11:37

If Mark White was selling, wouldn’t we see a TR1?

[888icb] 25/1/2021 10:28

Mark White said on Friday morning on LSE BB that he was not the seller so what is the source of your information?

[imjustdandy] 25/1/2021 09:51

Rumour in city says it's Mark White. He will be gone soon

[joeblogg2] 25/1/2021 09:46

Still have a seller :((

[doodlebug4] 25/1/2021 09:11

Blue Star Capital
@BlueStarCap
·
21m
#BLU #eSports #Investment
@BlueStarCap

ESPORTS MORE RELEVANT THAN EVER
➥2020 was a challenging year, but has had a positive effect on esports nonetheless
➥The industry continues to generate millions of dollars and streaming audiences are rapidly growing

[stoxx67] 25/1/2021 05:34

it is a better thread for that very reason keith, we discuss the share, there is rational debate.

even nico has stopped replying to those that attempt to wind him up with regards his holding.

basically i look at a post from an individual, if they seem to understand the basics and offer meaningful content , or attempt to, then i dont filter them.

most on here are well used to the monickers of the inerudite from the rose tinted thread and just filter them.