Blue Star Capital Share Discussion Threads

[dennisbergkamp] 24/9/2021 19:27

Here Here guys. It's such a ridiculous call that offers nothing to us long term shareholders.

Can't imagine anyone would want to continue in this vein when it's totally transparent what the board think of us, and blatantly turning this company into a lifestyle support entity

Let's get an egm to dump this lot.

D

[888icb] 24/9/2021 15:02

Nicholas Slater and Mark White have more than enough shares to demand an egm to remove directors. One would hope that if they contact the company to express their disapproval and that of the former CEO that they would reverse the Options RNS without the need for the egm process to be implemented.

[tonyfabrizi] 24/9/2021 14:24

Hi KP, I have no issue in you making your points which I am sure are honestly held. Some of the decisions I made at Blue definitely proved wrong and some right. However, throughout my tenure at Blue, I can honestly say i always had Blue and its shareholders' interests at heart and that's not something the current board can claim. I just hope the main shareholders make a stand and stop this blatant disregard for Blue's shareholders interests.

[kernel_pult1] 24/9/2021 14:04

Hi Tony,

I would like to thank you for responding to my points. Only last week I said that a good leader needs to be able to have difficult conversations and hold their nerve when challenged without shying away or cracking under pressure. You have done this which demonstrates good leadership qualities in yourself.
I have more respect for you now, and others will, for the fact that you’ve responded positively in what many would say is a hostile environment on the board today, given the content of the RNS.
As mentioned, everyone likes to make easy decisions, nobody likes to make hard decisions.
Bid just dropped to 0.12p.

The buck doesn’t stop with you any more Tony – What are Derek, the board, and the companies we are invested in going to do about it?

[tonyfabrizi] 24/9/2021 13:44

I have been asked to comment on today's announcement and I will also take the opportunity to respond to KP's accusations.

In terms of today's option announcement, I think it's an absolute disgrace and the directors should hold their heads in shame. 10 year options at an average price well below the last 12 months average. It shows zero respect for shareholders and the options should be cancelled.

In terms of my apparent mistakes on Satoshipay.
1. the Blue board felt having a board seat might restrict the ability to ac. In retrospect, I am not sure that was the right decision but we have always had the right to appoint a director if we wanted. Worth pointing out that it was my idea to offer Daniel Masters the non exec chairman role. Second I was involved in all biweekly board calls so not sure we lost anything. Finally, If Blue wants a board seat the current board have a right to request but have decided against.
2. easy to forget that when we decided to increase the stake in Satoshipay, there was significant shareholder support and the price moved towards 1p on its potential. The reason we took such a large stake was the planned Reverse and buying when we did was going to be at a large discount to the RTO price.
3.the Register was a small pilot and the company was in discussions with much larger publishing groups. The RTO had been worked on for months before it was announced and there was strong support form some of the UK's largest small cap funds. Unfortunately the market cracked and the RTO Had to be pulled but this was clearly outside the boards control.

[kernel_pult1] 24/9/2021 12:52

I wouldn't mind 3% dilution of my holding if the share price was moving forward positively.

The price action is dreadful - It's retraced by over 50% from the 12 month high of 0.28p bid.


Those of you calling for Tony back, I'd say Tony is best of a bad bunch, we are still left dealing with the hangover from Tonys amateur (only way I can describe it) mistakes.

Mistake no 1: Not negotiating himself a seat on the board of Satoshipay when he threw all that money at them
Mistake no 2: Naively putting all that money into Satoshipay in the first place (never test the depth of a river with both feet)
Mistake no 3: Deciding to pursue an RTO when only less than two months ago Satoshipays pilot was released on The Register and it completely bombed.

You might expect the above mistakes from a rookie, but not a seasoned professional who has been in financial markets for years.

[stoxx67] 24/9/2021 12:49

Tony far too much of a diplomat to share his views on that, however he would most certainly not have pulled a flanker like this.

if newsflow does appear shortly this could be tantamount to "front running" and i'm sure regulatory bodies would be interested.

last thing i want is the regulators involved, however seems BOD has scant regard for its shareholders.

[davealders] 24/9/2021 11:29

The BOD have had a shocker here.
Do they think 10-20-30 % increase will satisfy shareholders?
We were way above that in January and it's been allowed to drop away on news blackout.

Would be interesting to hear Tony's thought's on the news announced this morning.
He's still a suffering shareholder like we are.

Thanks

[kernel_pult1] 24/9/2021 11:03

There I was when I saw the BLU RNS thinking that Meinhard had finally delivered something and I am greeted with that tripe.

Targets of 10%, 20% and 30% above current share price. Well at least they are setting the bar high! What meaningful value have these delivered to the company since their arrival?

[nico115] 24/9/2021 10:49

Let's issue no news on pendulum and have a news blackout Then issue ourselves with 10 pct of the equity near allTime lows Then have great newsflow Shareholders will lose out but the BOD gains without doing much

[kernel_pult1] 24/9/2021 08:57

Boys at the feeding trough

Filling their boots

The ramping idiots are a bit quiet today

Excluding today, only 4 business days left for meinhard to deliver something meaningful in Tony’s THIRD pledged time window which is the calendar month of September. Flicking a silly prototype live which next to no one uses doesn’t count.

In slightly more positive news, at least pendulum YouTube channel is gaining some serious traction with their whopping 25 subscribers….. said no-one ever.

Just goes to show that no one gives two hoots about meinhards pointless vapourware

& to think the ramping idiots on here believe a big institution is going to come and take them out for mega bucks… I think not!

Said I wouldn’t post until end of September but today’s news (if you can call it news) show that things are going from bad to worse

Bunch of chocolate fireguards

[come on] 24/9/2021 08:09

Poor rns, no incentive at all

[stoxx67] 24/9/2021 08:07

agree entirely.

i have contacted Derek, though am not holding my breath on a reply.

this is an absolute mess

ZERO transparency, ZERO news, ZERO progress.

the only thing that is not ZERO about Blue Star, miraculously, is the share price.

do advise the response you get from Captain Anonymous ( a.k.a Derek) on yours and Mark Whites request that the options be cancelled.

sadly Derek, with just this one action, you have lost the confidence of BLU shareholders, time to go and lets see if we can get someone involved who wants to communicate with shareholders and create value, as very little evidence of that this Year !!

[nico115] 24/9/2021 08:01

As I said at the time Tony shouldn't have left.The BOD have done sweet FA except halved our money in NFTDerek thinks we are ridiculously valued yet may award 10pct of equity here It's basically taking money off shareholders for their own benefit

[stoxx67] 24/9/2021 07:47

its criminal !!

maybe time for Derek and the whole board to go.

we seem to be going nowhere fast.

ZERO value added in the last 5 years never mind last 12 months.

[johno1977] 24/9/2021 07:46

at least 10/20/30% are pi%% poor performance targets too.

[johno1977] 24/9/2021 07:45

Cheapies for the boys before newsfow (hopefully)?

Poor show, not the rns we wanted but maybe it's now incoming...

[nico115] 24/9/2021 07:44

Nav is double this why should shareholders be diluted by 3pct at 0.14 ?Crazy !!