Gunsynd Share Discussion Threads

[seagullsslimjim] 25/9/2018 07:41

RNS today confirming the HH stake swap for UKOG shares.

Now we need those to now spike to 2.4p plus and start off loading - at 2.5p and that would make our holding worth £750k and v the current MC of £1.2m (the current Sunshine deal should also equate to circa £330k plus!

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'Completion of Disposal of Interest in HHDL to UKOG PLC

Further to the announcements of 20 and 30 August 2018, Gunsynd plc (AIM: GUN, NEX: GUN) announces completion of the disposal of its 2% interest in Horse Hill Developments Limited ("HHDL") to UK Oil and Gas plc ("UKOG").

The conditions precedent to the Sale and Purchase Agreement ("SPA") have now been fulfilled and the Company will now receive £50,000 in cash and 31,171,898 UKOG shares in fulfilment of the share consideration.Â; It is expected that the 31,171,898 UKOG shares will be admitted to trading on or around 28 September 2018.'

[seagullsslimjim] 24/9/2018 17:46

okay so the breakdown of Admin expenses from the R and A are £461k

Wages in cash = £163k
share based payments (ie wages in shares)= £100k
Audit fees = £10k
Legal Fees = £15k

Other General overheads = £198k and would cover Registered Office, Nomad/Broker, Bankers and Registrar

From that the additional share based payments of £100k seem unnecessary and further detail on 'Other general overheads' seems required.

Wages and the rest aside and the NAV in the accounts is much higher than the cuurent MC of £1.2m and at present the UKOG is worth circa £650k and the Sunshine conversion £330k.

So from a shareholders perspective then yes i think the level of reward now seen should have come after the price change Fastbase IPO and yet if and when that happens we will in turn be rewarded with a major re-rate price rise.

Recent reports on the other board have purported to emails from the Company that a sign off with a UK broker was in the process of happening and so news soon. However based on the poor PR skills of FB up to date and yes that could be taken with a major pinch of salt.

I'd also push for a consolidation in the shares as a fraction of a penny and 4.8bn in issue just puts people off.

[seagullsslimjim] 24/9/2018 17:08

hands up for me !!- speed read the results and missed that Admin figure.

will re-read and maybe contact the Co for more detail on those.

[rupertkbf] 24/9/2018 11:17

Well I am glad your happy with the wages bill...remember the BOD also draw wages from all the other companies they sit on.....I just think that administration costs of nearly half a million pounds are exorbitant for tin pot company like GUN with a M cap of £1.2 million......Exorbitant... extortionate, excessively high, extremely high, excessive, sky-high, prohibitive, outrageous, unreasonable, preposterous, inordinate, immoderate, inflated, monstrous, unwarranted, unconscionable, huge, enormous, disproportionate.

[seagullsslimjim] 23/9/2018 09:29

Well maybe if the Fastbase IPO took off well, then sentiment for all would change here as we all share a similar frustration. You can read from the message with the results that Hamish is equally frustrated with certain third party things

Re the UKOG holding - then i'd shift those at anywhere above 2.4p

Sunshine - sell the new shares down over time depending on liquidity

Human Brands - Hamish previously cited that this could actually be the real cash cow for GUN. For me the jury is still out on how big the cow would be

Fastbase - well i still feel that the IPO will happen, but to date it has been handled by FB in a woeful and completely amateurish way !However the return to GUN would be massive.

So as an end of term report - C+ "but could do better"

As for the pay rise, then an annual salary of £75k each and options isn't that much out of the ordinary salary wise these days and was from a previously low amount.

Managers where i work are on that and more and would be classed as 'middle management'. Same as an MP :-)

[seagullsslimjim] 21/9/2018 17:01

rossannan - agree that it will be harder to shift but can be done in dribs and drabs.

No big news in the results just out and you can tell that they are just as frustrated as the rest of us on how Fastbase and Oyster have gone to date.

They are still optimistic for the Fastbase IPO to happen this year and that that will be the big rocket here. Three and half months till year end!

[seagullsslimjim] 20/9/2018 23:28

I guess that where it may not add much immediate value, it does offer liquidity to our investment and a bit like the UKOG deal.

[scotty666] 20/9/2018 11:17

To add to the above Paterson's is the lead broker for Metminco.

Also metminco rns implies that sunshine has some debt so not sure what happened there given the recent share issue for 30% of the company to Eagle Ray investments as recently as 17th August - Eagle seems to be linked to Thomas Bahen based on their filings - who if googled works at Paterson's - luckily our NED works there too so surely we must be getting a good deal!

Let's wait and see but again based on what we can see in the info disclosed we should have requested the loan convert back to cash in my limited view.

[knowing] 19/9/2018 15:54

List on the Nasdaq and double our fee

[seagullsslimjim] 19/9/2018 15:45

well we have 0.75% royalty fee for listing advise and payable at the time of the listing.

Past calcs on the other board would suggest an initial figure of maybe £750k at the very minimum.

Due to the radio silence on the FB float then one can see why it is such a big pay day and would boost our share price

Some posters on the other board have had email replies last week from FB and that suggest that sign off with a UK broker for the IPO is only a matter of weeks away. Once that is announced then that would add clarity to procedings

[tomboyb] 19/9/2018 14:23

Just one question Seagull -

Fastbase is an extension of Google Analytics - What is GUN likely to get when they list on the UK SE?

[tomboyb] 19/9/2018 14:20

Looking through Fastbase at the moment -

hxxps://analytics.fastbase.com/

[seagullsslimjim] 19/9/2018 14:09

"What does today's announcement mean for GUN -"

Another asset (like our 2% Horse Hill holding) that has been exchanged for a more liquid asset

From postings on the 'other' board then both the liquid UKOG and Sunshine holdings will on their own cover our NAV !

Bonkers at the moment but wont take much buying to get us back to a more reasonable level.

If Fastbase do announce an IPO date then that will be worth 0.02 - 0.03p alone when they list !

[tomboyb] 19/9/2018 12:51

if it gets to 0.035p it will still be 50% below NAV -

What does today's announcement mean for GUN -

[knowing] 19/9/2018 12:45

You could also look at the ADVFN Financial page to get the NAV

[tomboyb] 19/9/2018 12:43

Hi Rossannan -

Looking at last interims cash and inv = over £3.1mill V current market cap of £1.2mill -

that is around 2.6x below NAV -

so some upside here -

[tomboyb] 19/9/2018 09:53

Current NAV still the same 0.07p -

if so looks way undervalued -

by the way that 20mill not me as just quoted 1.5mill max online -

[knowing] 19/9/2018 09:45

Is that a 20M Buy