Bright Things Share Discussion Threads

[iantc] 08/9/2009 19:12

i think your view is getting very rose tinted ta ,you need to go back and read some of the rns again ,they had no assets to sell and needed the extra placing at the time they bought commonworld to still be here ,dom has received a very nice wage for the last few years ,check back on admin costs for the last few years

and [But, at least the company is now well-funded .]
thats been said here quite a few times only for them to come back to the markets again for more money .but time will tell

[the analyst] 08/9/2009 18:46

Well, first things first, looking at the placings

When they floated, the business was based on iDVD/ASIC/bubble ventures. I don't think that the management took a payment when they floated, although I could be wrong on that, so please correct me if that's the case

Dominic then invested a further £80k at 9p per share in October 2006, when cash started to run out

The business still failed. I don't think anyone in the business wanted it to fail, they just got the pricing badly wrong. It was too late to keep going on those projects, because technology and gaming had moved on. For example, the Wii and nintendos could and still can offer a great gaming experience for kids. So, those products were, to a great extent, on the way out, leaving the business pretty much dead

At that stage, Dominic could have just taken the company into administration, sold off any assets and started SocialGO privately as 100% owner (or maybe 70% owner after he bought GOWIT). OR he could have started up another, separate AIM company and snubbed those the long-term BGT holders.

But, he didn't do that. Instead, he kept the shareholders in with a chance. He still only owns 25%, when he could own much more of the business had he gone the administration and private company route.

I'm not saying it has all been good. Personally I would like to have seen the last placing done at the offer price or above, rather than the bid price. But, at least the company is now well-funded and all of the key staff and management are well-incentivised to encourage them to work hard and build a great business.

[outsider] 08/9/2009 18:34

1/ They DO have 1,000s of paying customers but kept it quiet so the share price would not creep up in advance of the placing (which of course they knew was coming months ago - and of which Dom knew he was going to take a large chunk)



kinda good & kinda bad......waht does it say about the mgt attitude to ordinary investors who have supported a long time?

[the analyst] 08/9/2009 18:24

Meanwhile, I'm going through all of the previous placing rns statements to see if it has been as unfair to investors as people try to make out.

Will post later on that...

[the analyst] 08/9/2009 18:24

I think they will issue more shares, yes, but that does necessarily mean dilution. Or, at least, what I think of as dilution. It could be at a much higher price next time

One possibility would be that any further money comes from Management exercising their 5p warrants - to me that is not dilution as it would be an up-round of funding at a considerable premium to the last fund-raising

I would be very happy if they raised a couple of million at 5p per share

[carl79] 08/9/2009 17:49

hmmm... Dom is not short of a penny or two, plus he is always part of the placings with the largest single % so the pattern rings true...yes it is still a lot of money, granted...

Maybe I should be more explicit, so -

1/ They DO have 1,000s of paying customers but kept it quiet so the share price would not creep up in advance of the placing (which of course they knew was coming months ago - and of which Dom knew he was going to take a large chunk)

As previous, long term it matters little but unlike you TA, I do not think I will suffer another dilution

[the analyst] 08/9/2009 14:13

"This is my dilemma TA...

1 - they DO have 1,000s of paying customers but kept it quiet
2 - they DO NOT have 1,000s but the sources I spoke indicated they did


Well, maybe your dilemma can be answered by the fact that Dominic bought £400k worth of shares in the placing. It would suggest that [1] above is most likely.

Would he have bought if they were not getting a good rate of sign-ups?

Would he have bought if there wasn't a decent proportion of networks paying for the premium services?

It is a very big single investment and it's all the more noteworthy when you consider it's a microcap.

Personally, I've not seen this type of Director investment in a loss-making microcap for a long time...

[the analyst] 08/9/2009 14:11

Yes, most the trades go through on Plus right now. There is only one market maker on Plus for BGT right now, which is WNSTC. They are currently 1.25 bid and 1.75 offer, although you can buy through them at 1.39 right now (two big trades just went through and checking with TDW, they are buys)


Here is the ADVFN page for the trades:



Here is the ADVFN L2 page:

[carl79] 07/9/2009 10:11

is this now mainly traded on plus? I tend to see trades on there rather than on the LSE lately...

PLUS trades

07/09/2009 08:13:03 1.40 34,829 O 487.61
04/09/2009 14:45:59 1.25 21,216 NB 265.20
04/09/2009 11:52:32 1.45 200,000 NB 2,900.00
04/09/2009 11:16:42 1.25 27,359 NB 341.99
04/09/2009 10:03:56 1.40 40,000 O 560.00
03/09/2009 11:05:28 1.45 25,000 NB 362.50
03/09/2009 10:10:59 1.25 32,500 NB 406.25
02/09/2009 16:02:39 1.45 25,000 NB 362.50
26/08/2009 09:38:56 1.25 6,365 O 79.56
25/08/2009 11:01:12 1.45 75,000 O 1,087.50
25/08/2009 09:06:52 1.45 6,690 O 97.01
21/08/2009 11:04:57 1.28 116,183 O 1,487.14

[the analyst] 06/9/2009 20:56

"Coming Soon - Pro Services Directory

Now that a vibrant community of professional suppliers has grown around SocialGO we plan to launch the SocialGO Pro Service Directory in the very near future.

The purpose is to connect network owners who have a need with professional suppliers who can solve that need. The listing will be FREE for pprofessional suppliers that want to list and FREE for network owners to access.

You can expect to see professional suppliers offering services such as custom development, network moderation, network marketing, affiliate programmes, content management, custom design etc.

The SocialGO Pro Services Directory will initially be found in the Admin Centre of every network next to the Theme Store Tab. Later it will also be features on SocialGO.com.

If you woud like to list your company or service in the Pro Services Directory, we would be happy to hear from you. Please email [e-mail]."

[carl79] 06/9/2009 15:39

If all of the stocks i held went up all of the time i'd be a multi-millionaire...Its easy to feel down when other stocks are gaining when urs is not but it is not a sustainable emotion to harbour because it will always mean you are never satisfied and will invariably make mistakes by selling up and chasing crowds. I'm happy to hold BGT right now but i do want to see significant results from the last round of financing.

[marbles1234] 06/9/2009 10:05

I meant suffered in the sence that you have money tied up here where it should have been used elsewhere to make good money. As you say carl, its taken way longer than most thought to get the share price moving and yet its still at these low levels and no end in sight to! well at least I cant see any.

[carl79] 05/9/2009 14:17

This is my dilemma TA...

1 - they DO have 1,000s of paying customers but kept it quiet
2 - they DO NOT have 1,000s but the sources I spoke indicated they did

Either scenario is bad for their own, different reasons - hence I will now watch events much more closely

In the end the difference to my holding is not really anything to worry about as this was always a long hold but I would like to understand the thinking by the team...

[77monty] 05/9/2009 14:14

I dunno to be honest. I got lucky finding out about the 1k plus Zocku networks by asking a cheeky question via livechat. I have no contacts in the company. My view is they will announce good but not spectacular numbers. At some point it will hit the tipping point and numbers will explode. I don't know when or what will kick that off. I suspect it will happen one month after I sell.

I think the key thing to the company future will be the stickability of customers. I'm worried that most of the networks that have been featured have less than 100 members. Once the initial excitement of making the network fades, I can see these canceling their subs fairly quickly.

I'm keeping my shares as I think the company will be taken out because the platform they have created could be easily deployed in other situations. And, there are some deep pockets in the States that often just want to buy something funky.

[the analyst] 05/9/2009 12:04

I've heard the same talk, Carl

At the moment, I have no reason to doubt what I was told, but I would be very annoyed if it does turn out to be bum info.

We also has a few posts from Monty77 referring to "thousands: of paying networks, including a reference to "over 1000" zocku networks up and running in July. That information, I believe, came directly from a senior employee at the company. So if that turns out to be untrue, the Directors would find themselves in a very difficult position

Is Monty77 around?

Any thoughts on progress Monty?

[carl79] 05/9/2009 11:39

I wouldn't say that i've suffered here - but I have underestimated the time it would take for Dom to return value to shareholders.

I think we are on the verge but am watching closely from here on in...I have heard talk of large premium numbers already on board and as is quite evident I am not impressed that this has been kept quiet in advance of a large dilution...As always, I could have been fed bum information so will reserve final judgement on the matter until we have some numbers formally confirmed to us

[the analyst] 05/9/2009 08:05

Perhaps I'm the only one that has thoroughly enjoyed being invested here, marbles - I don't feel I have suffered at all. There is still time and opportunity for that, though...

I think the product is developing very well and I expect to be in a good position to exit late on in 2011.

Just don't want more than 400m shares to be issued at 1.25p. Currently, we're still only at 300m, so that's fine for now...

There has been an added, unexpected benefit to this investment for me - following the product development, WL, customer support and general web 2.0 technology developments has helped a lot with one of my internet business. I've seen profits go crazy this year as a result

[marbles1234] 05/9/2009 07:45

Glad Im not still in this one guys. You have all suffered long enough here, Hope you are all making good money in other stocks, its pretty easy right now. Just feel for you all here still hoping for a movement up.

[the analyst] 05/9/2009 07:37

I had no excuse!

[carl79] 05/9/2009 00:06

i promised the gf i would not "work" while away so i am catching up ;-)

[the analyst] 04/9/2009 23:44

Yeah, especially the types of geek that are on the internet at, lets say, 00:20, or 00:32 on a friday night... :-)

[carl79] 04/9/2009 23:32

got to love geeks huh

[the analyst] 04/9/2009 23:20

Seems like a pretty bad DOS attack on the SG servers...

[carl79] 04/9/2009 22:42

No worries TA...

yep - never thought they bought from ope market... I would like to see them do so at some point as the cycle of placing / dir. purchase / placing / etc is not ideal...it can start to look like they expect to place in X months at a new low price and thus see all other times as premature buy and a waste of money...does not inspire confidence....I do not want any more placings at this level - or even double it... i'd see that as a fail and a waste of funds...

I am now 100% cash in my trading portfolio which actually now is only looking at FTSE 100 stocks...not the massive gains from the penny shares but I have made good gains and most of it in my ISA too... I'll look to get back in when stocks cool off - i dont buy the "end of the credit crunch" argument that some are spouting...unemployment, lack of credit for the majority of people and large looses yet to be realised by the banks are all indicating a slump imo...

To clarify, I still hold my shares that are long term holds - BGT is one of them and i've not sold any

[the analyst] 04/9/2009 22:07

Bought a few mwa myself a couple of months ago - very fortunate, as it was just a hunch, guessing that the director purchases were induced by them having insider knowledge of what was to come. 100% speculative gamble, like all small natural resource companies...

Have to say, that since last November, the markets have been very very good for me. Only one of my shares has failed to respond... this one!