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QBT Quantum Blockchain Technologies Plc

0.825
0.00 (0.00%)
21 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Stock Type
Quantum Blockchain Technologies Plc QBT London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 0.825 08:00:00
Open Price Low Price High Price Close Price Previous Close
0.825 0.825 0.825 0.825 0.825
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Industry Sector
NONEQUITY INVESTMENT INSTRUMENTS

Quantum Blockchain Techn... QBT Dividends History

No dividends issued between 22 Jun 2014 and 22 Jun 2024

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Posted at 20/6/2024 10:00 by 1knocker
See post 8981 for a resume of the interview. It says nothing new, though it does emphasise that there is a way to go yet before any more cash from the Sipiem damages is actually recovered, and that QBT is in negotiations as to whether it must repay any /all of the E 700K recovered so far.

The position is complex, as there are judgments against a number of defendants, giving rise to joint rather than several liabilities for the most part it would appear (a joint liability can be enforced against any or all of the defendants held jointly liable, but not in the aggregate for more than the sum for which they are jointly liable - eg a Jdt against A and B for £100 is enforceable against either or both for up to £100, but no more than £100 in aggregate from the pair or them).

Remember also that the damages are split as to 70% for QBT (or rather a subsidiary of QBT) and 30% for the receiver.

Whether the QBT subsidiary has entered into agreements with third parties to fund the litigation under which those third parties will get a slice of the 70% is not stated. It does seem likely though, as a QBT subsidiary will not have had cash in hand to fund substantial and lengthy litigation, so it is an oversimplification and almost certainly wrong to assume that 'QBT' will receive anything like the full 70%. that is a gross rather than a net sum.Litigation funding does not come cheap, because it is high risk - fund a litigant with no money who loses, and the funder is out of pocket. If Pg himself has bank rolled the litigation by way of loans, a big slice of the winnings will end up in his pocket, not QBT's (or rather, the material QBT subsidiary's pocket).

I have warned before that QBT's capital and loan structure is complex. Don't assume that PG wants to see any money the QBT group makes wasted on the QBT shareholders. He is a shrewd operator, and will have arranged the capital and loan structure so that in the event of any trading or litigation success he is the primary beneficiary (as any good businessman would). There is owt for nowt in this life.

When a man like PG (not noted for understating the upside) tells you that 'it is all very complicated, and there is a long way to go yet, and more deals to be negotiated' in an interview, and that that he wishes to say nothing which 'might raise over-optimistic expectations', take those words seriously.
Posted at 19/6/2024 13:33 by 1knocker
FG: "We won, we won! We got loads a dosh. How shall we spend it?"

Nerdy scientist: " I think we should put in some research on method D. An extra 15 hours a week paid time for me, and I think I can made it work."

Spotty PHD student: " We should be at the cutting edge, push the boundaries. Lest's start from the other end and develop methods Z, Y and X"
FG: " What are methods D,Z,Y and X?"

Nerdy and Spotty in unison: "we don't know until we have done the research."

FG: "Well, that makes sense, we need to do the research."

Vlad: "Vot about my pay rise?"

FG: 'The Sipiem dosh is not in the bank yet, and our lawyers are threatening to sue us unless we pay their bills pdq. When you are operating at the far extremes of the legal system -like in Venice - you never know how long it will take, how much it will cost, or even whether it will actually work - though of course I am sure it will if we spend enough and take enough time. Your pay rise will have to wait, but I can grant you some share options."

Vlad: Vith Methods, D, Z, Y and X, my pay rise, (and ziz 'pdq' vich I haf not heard before) and all the work exploring the outer reaches of the Venetian legal system, we need more dosh, lots more dosh, NOW."

PG: " That is very true, Vlad, though pdq is not a new QBT method, it means 'pretty damn quick'.

Vlad: " So zeze pdq bills cost too, like vot I said."

PG: " I am afraid so. Nerdy and Spotty, you go and prepare a bit of blurb on what your new methods are intended to achieve, and I will put put together a video saying how QBT is about to crack them, and also crack the Venetian legal system (cutting edge stuff - no one else believes it is even possible to crack the venetian legal system - but that it all takes time and costs money, so we need another capital raise to get us over the line. Vlad, you book me in at the best restaurant in town and order my car."

Nerdy, Spotty and Vlad, in unison: " Good thinking Biggles - sorry, PG Sir. We will play to our core skills where we have a proven track record of success - stuffing the shareholders.

PG: That's settled then. Vlad, you are in charge of marketing, so make sure you send the video to those berks on the ADVFN QBT goon board. they have been gagging to hear something like this for months, and my spam folder is clogged with their emails."
Posted at 19/6/2024 13:17 by 1knocker
FG: "We won, we won! We got loads a dosh. How shall we spend it?"

Nerdy scientist: " I think we should put in some research on method D. An extra 15 hours a week paid time for me, and I think I can made it work."

Spotty PHD student: " We should be at the cutting edge, push the boundaries. Lest's start from the other end and develop methods Z, Y and X"

FG: " What are methods D,Z,Y and X?"

Nerdy and Spotty in unison: "we don't know until we have done the research."

FG: "Well, that makes sense, we need to do the research."

Vlad: "Vot about my pay rise?"

FG: 'The Sipiem dosh is not in the bank yet, and our lawyers are threatening to sue us unless we pay their bills pdq. When you are operating at the far extremes of the legal system -like in Venice - you never know how long it will take, how much it will cost, or even whether it will actually work - though of course I am sure it will if we spend enough and take enough time. Your pay rise will have to wait, but I can grant you some share options."

Vlad: "Vith Methods, D, Z, Y and X, my pay rise, and ziz 'pdq' (vich I haf not heard before) and all the work exploring the outer reaches of the Venetian legal system, we need more dosh, lots more dosh, NOW."

PG: " That is very true, Vlad, though pdq is not a new QBT method, it means 'pretty damn quick'."

Vlad: " So zeze pdq bills cost too, like vot I said."

PG: " I am afraid so. Nerdy and Spotty, you go and prepare a bit of blurb on what your new methods are intended to achieve, and I will put put together a video saying how QBT is about to crack them, and also crack the Venetian legal system (cutting edge stuff - no one else believes it is even possible to crack the venetian legal system), but that it all takes time and costs money, so we need another capital raise to get us over the line. Vlad, you book me in at the best restaurant in town and order my car."

Nerdy, Spotty and Vlad, in unison: " Good thinking Biggles - sorry, PG Sir. We will play to our core skills where we have a proven track record of success - stuffing the shareholders."

PG: "That's settled then. Vlad, you are in charge of marketing, so make sure you send the video to those berks on the ADVFN QBT goon board. They have been gagging to hear something like this for months, and my spam folder is clogged with their emails."
Posted at 18/6/2024 12:51 by 1knocker
No, Ellipses. QBT clearly thought that the prospects of defeating the appeal (and actually recovering the damages) were better than the receiver did. QBT's more optimistic assessment has proved to be right as regards winning the appeal, so the receiver is a very lucky boy that the appeal judgment was handed down before the date scheduled for court approval of his sale of 30% of the damages entitlement to QBT for a fraction of that sum, and there is no deal with QBT, and he retains his 30%.

As to when and how much of those damages either of them actually recovers from the defendants .... its Italy where in legal proceedings what looks like the end often proves only to be the beginning. . Good game being an Italian lawyer, good game. Not always so great for the litigants!
Posted at 18/6/2024 12:30 by 1knocker
No, flc. It was the receiver who was trying to ensure he got something even if the appeals failed. Luckily for him (and unluckily for QBT, as events have turned out) the deal was conditional on court approval and the appeal judgment (in QBT's favour) was delivered before the date scheduled for the court hearing to approve the deal whereby the receiver would 'sell' his entitlement to 30% of the damages (be that E 6m or nil) to QBT for a fraction of that (then still potential) sum.

So the receiver remains entitled to his 30% of the damages. He would have been kicking himself if the deal had been approved, only to see QBT win the appeal and receive 100% of the damages, he having 'sold' his 30% entitlement for peanuts! Perhaps he has a mate in the Venice appeal Court who pushed through delivery of the appeal judgment ahead of the scheduled deal approval hearing since (as QBT won the appeal) the deal would have worked out highly favourably for QBT (and highly unfavourably for the receiver)!
Posted at 18/6/2024 11:38 by 1knocker
Not at all ss46.
I am a realist looking to make (and certainly not to lose) money on QBT.

See my 2 posts of today, and my post 8904 of yesterday.

Yet again my approach has been vindicated by the share price movement, and those who have applied my approach are in clover, even though QBT is a loss making dog of a company (last trading update - losses widening). There is brass in muck (or can be if you play it right, as I have so far).*

No wonder so many have asked that I PM them to warn them of any revision to my outlook and strategy for QBT, so that they can continue to profit, and avoid finding themselves amongst those without a chair when the music stops.

Sadly, the fantasists from the goon board are playing QBT all wrong, and have the losses to prove that.

* 'Past performance ..' and all that. No guarantees for the future so DYOR. Just for God's sake don't be misled by the arrant nonsense on the goon board and also pedalled here by the ramping refugees from the goon board.
Posted at 18/6/2024 11:18 by 1knocker
Ellipses, not sure you are quite right there.

As I understand it, the receiver is entitled to 30% of the damages, and the deal struck was in effect a sale of that right, subject to approval of the Court. When the deal was struck, the outcome of the appeals was unknown and thus the value of 30% of the damages was uncertain. Basically a 'bird in the hand' calculation by the receiver a 30% of nil is nil. QBT has won the appeal (save as regards about E 100K), which is good news for QBT, but the deal with the receiver falls away and he retains his right to 30% of the damages. Not such good news for QBT, as the receiver keeps his full whack. The receiver as lucky that the appeal went the way it did and that his deal with QBT fell away because the appeal judgment came out before while the condition to which the deal was subject (court approval of the deal) remained unsatisfied, and cannot now be satisfied, so that the deal is dead.

The judgment also has to be enforced, of course, before anyone sees their money. I don't know what the prospects of recovery are, but presumably the defendants are good for at least a fair chunk of the money as there would have been no point in appealing a judgment they could not pay anyway.

I assume this is the end of the appeal road, but with Italian law there always seems to be one more hurdle and many more years to go before you recover anything!

PS Still strict radio silence on QBT tech development progress. The silence is becoming louder, if not yet quite deafening. Next step a 'strategic change of direction'?

The impact of today's RNS on the share price will probably fade fairly quickly, though it is undoubtedly good news.
Posted at 12/6/2024 14:54 by 1knocker
How does that square with the date of Vlad's appointment, Jag?
Plainly he was not appointed 9 months before QBT expected to have anything for him to sell.
The inference is that QBT expected to have something to sell by early 2024, and that revenue on such sales would be received during 2024 (though not necessarily until some time after the sale had been made) and that QBT is (at best) running behind its own expected rate of progress.

PS Your post omitted to congratulate me on the accuracy of my QBT share price prediction, and overlooked to apologise for describing my analysis on which I based that prediction as 'de-ramping'. Are you going to the decent thing and give credit where it is due?
Posted at 12/6/2024 10:01 by 1knocker
Thanks, zyde. I am still waiting for Cap'n Sharetalk to inform his board that I read QBT right and that henceforth I am welcome back on his board and that in future he will not suppress any of my posts.

I have not bought QBT at 0.8. I expect it to go lower, but I have no target price for the bottom in mind at present.

Its pretty obvious that QBT is at best running behind schedule. Vlad was not hired to twiddle his thumbs for 9 months with nothing to sell. That should be a serious concern for investors, as his appointment shows that QBT DID have real expectations that it would have something to sell by early this year and those expectations have not materialised. The prospect of revenue this year is diminishing fast.

On past history, there is at least one more spin of the wheel in QBT - ie another 'one more push and we are there' announcement leading to a price spike followed by a slide as the hype comes to nothing. The risk is increasing though that the present 'wonder tech' hype seam has been mined out, and the next move from QBT will be a 'strategic change of direction'. That could well be a damp squib which fails to impress the market, in which case the share price could fall through the floor. So a bet [Note: punt, NOT investment] on QBT is very high risk.

Possibly I will place a small bet with a buy limit order at 0.7p. If I do so and it triggers, I will then place a limit order to sell at 1.3p. Its high risk though, as it is a bet on hype, not substance, so if I do place a buy order which triggers in addition to the 1.3p sell order I will place I will also place a stop loss to get me out losing no more than the profit i made on my previous 'in and quickly out' on QBT.

Frankly though, if folks want to gamble on volatility, they are probably better off gambling on gold and playing a carefully selected low priced gold explorer /mine developer with proven reserves, or a miner which becomes profitable on a rise in the gold price with a view to selling out on a spike caused by a rise in the gold price. I think gold is more likely than not to remain relatively weak over the summer, in which case there will be scope for the patient to pick up shares in an appropriate company at a decent price. Not really my bag though. I am looking to top up on weakness in the copper and uranium sectors, to add to my long term holds in those sectors.

I hope that helps, but don't blindly follow mw or anyone else. Look at what others are doing and why, look for the flaws and the risks they have overlooked in their analysis, and back your own judgement and DON'T BET THE FARM ON ANYTHING.
Posted at 04/6/2024 19:22 by ellipses
Oh.

For all the RNS/PRN readers...

With reference to the Company’s earlier announcement dated 16 May 2024, the Board of Quantum Blockchain Technologies (AIM: QBT) is pleased to confirm that, with respect to the First Sipiem Settlement, the payment of €700,000 has now been completed.

The Company would reiterate that despite its receipt in full, the €700,000 settlement remains subject to formal approval by the Venice Court of Appeal. The interested parties have already filed a joint application with that Court for this purpose.

You might have to assume that the €700,000, minus €170,000 is not yet in the QBT bank and therefore is likely to exist in some form of limbo, probably in a third party account until, perhaps, other terms and conditions are settled according to the joint application. Unfortunately QBT have not mentioned those supposed terms and conditions.

Being a glass half empty sort of person I am going to suggest that despite the suggestion from FG,

"Francesco Gardin, Executive Chairman of QBT, commented: “We are very satisfied to have concluded this double negotiation with certain defendants and the Receiver. It is a tangible result which provides us with further strength to pursue the remaining judgment amount (€5.575 million plus interest and adjustment for inflation) from the remaining Sipiem defendants, without having to split any future recovered sum with any other party.”

That this opens up the opportunity for QBT to snaffle all of the rest of the money the requirement for approval by The Court may mean that this settlement will impact on those parties from which they expect to recover that money and as a result they are being asked for their approval of or objection to the present settlement.

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