News from 3Legs today ... here are the sums as I see it .... raised £800k at the beginning of the year, let's say there is £600k left. Raised £500k recently from Jim Mellon ... so total cash£1.1m. Market cap last night was £1.3m So there is a nominal value attributable to the listing NOR to Jim Mellon who has put more has put money into the investment made today by 3Legs on the same terms. In total it looks like Jim Mellon has invested now over £600k in 3Legs and SalvaRx in addition to owning 50% of it prior to this transaction With all the noise around Jim Mellon, justified or not, you might think he might be worth a million or two on the value of 3Legs? .... and I guess it's conceivable that 3Legs ultimately buy SalvaRx in time? Who knows
Brilliant news today on Nektan .... US casino business looks like it will really take off over the next 12 months - casinos getting 30% more money in. Why wouldn't they want to? Real money games - a cash cow Recent research report from Cenkos talking about a potential £1bn value for Nektan is rather overdoing things but a market cap of just £35 seems way too cheap
More block chain press .... more big banks looking to participate [link] Nine major banks working on Bitcoin-like block chain tech for market trading JP Morgan Chase, Credit Suisse, RBS, and Barclays among banks backing effort. by Cassandra Khaw (UK) - Sep 16, 2015 10:29pm BST The banks of the world are taking a page from cryptocurrency. Nine of the world’s biggest financial institutions have partnered with FinTech company R3 to develop distributed ledger technologies—the same technologies that underpin Bitcoin’s block chain. “Our bank partners recognize the promise of distributed ledger technologies and their potential to transform financial market technology platforms where standards must be secure, scalable and adaptable,†said R3 CEO David Rutter in a press release. So far, Barclays, BBVA, Commonwealth Bank of Australia, Credit Suisse, J.P. Morgan, State Street, Royal Bank of Scotland, and UBS have been named as participants in the block chain scheme, but more banks are expected to join the list soon. In addition to collaborating on the underlying technologies, the group plans to establish consistent standards and protocols in order to encourage broader adoption of distributed/shared ledgers. According to Reuters, the venture’s initial focus will be deciding on an underlying architecture, as it hasn’t yet been determined if Bitcoin’s block chain will be used, or if the group will extrapolate from a different framework. Further Reading Barclays to become the first major bank to accept Bitcoin [Updated] Charities will be able to pay bitcoins into their bank accounts; private users may follow. It’s an exciting milestone. The financial sector has long evinced a strong interest in what the block chain—essentially a decentralised ledger of verified transactions—can offer, especially since it could potentially help reduce infrastructure costs by £10-13 billion per annum. Earlier this year, Westpac Banking Corporation and the Australia and New Zealand Banking Group revealed they were testing block chain-style technologies. Then in the UK, Barclays, which will also the first major bank to accept bitcoins, is working extensively with myriad startups to explore the ramifications of the technology. This new initiative represents what may be one of the largest joint research efforts in the field. "Right now you’re seeing significant money and time being spent on exploration of these technologies in a fractured way that lacks the strategic, coordinated vision so critical to timely success," said Royal Bank of Scotland director Kevin Hanley. “The R3 model is changing the game."
A bit of good block chain press .... UBS Develops ‘Settlement Coin,’ Bringing Block Chain To Financial Markets Bitcoin Research, Fintech, News, World Finance 07/09/2015 by Elliot Maras UBS is working on a block chain based “settlement coin†that financial institutions will use, according to The Wall Street Journal. Unlike bitcoin, the UBS “utility settlement coin†would link to real-world currencies and central bank accounts. Oliver Bussmann, CIO of Switzerland-based UBS, said the coin will help establish the block chain in global finance. The currency, being developed with Clearmatics, a London-based firm that makes clearing machines for OTC markets, could reduce transaction settlement times. The coin could reduce settlement time from two or three days to a matter of seconds. UBS’ new cryptocurrency lab in London is leading the initiative, according to Financial News, a London-based newspaper.
An update overnight on BTL transaction .... check out news on Northern Aspect Resources news from last night [link]
Airportr got a few minutes of coverage late yesterday afternoon from Louisa Bojesen and also on the CNBC website. Great PR straight at a lot of potential and current customers - and it probably cost Portr nothing! [link]
Cenkos out today initiating coverage on Nektan. Whilst admitting it is a blue-sky scenario their analysis suggest a potential value of the business of up to £1 BILLION. Market cap circa £30 MILLION. For now they have a target price of 290 pence.
Some research out today from Cenkos initiating coverage of Nektan in which Disruptive Tech holds a sizeable stake Whilst admitting it is a blue-sky scenario their analysis suggest a potential value of the business of up to £1 BILLION. Market cap circa £30 MILLION. For now they have a target price of 290 pence.