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GM: My name is Guy and I have an app that displays a person's COVID status that I'd like you to invest in. I'm looking for £500k investment for 10% of the company
Dragon: OK Guy, Can you show us this app
GM: You can have a free trial of it if you like. I'll start typing up the RNS now
Dragon: OK, it doesn't look like much.
GM: It is backed by cutting edge technology. The BLOCKCHAIN
Dragon: Is that really needed?
GM: It's GDPR compliant
Dragon: Yes yes, so is every other app that takes in data like this. Do we need the blockchain?
GM: Did I mention it's GDPR compliant
Dragon: Lets look at the numbers. How much gross and net profit did you make last year?
GM: None. Not made any for 10 years
Dragon: How many units have you shipped?
GM: None
Dragon: Do you have any orders in currently?
GM: No but we did some free trials with badminton England for 1 tournament of 20 people
Dragon: Are you taking a wage from your company making no profit?
GM: I take £100k a year and then there's the directors and the directors of the company we've just aquired
Dragon: *Shocked look*. How much did you purchase that company for?
GM: £320k
Dragon: How much profit did they make last year?
GM: None but they had revenue of £26k
Dragon: So this app. Do you own the IP for it
GM: No
Dragon: Does this company you have bought have any IP for any software?
GM: No
Dragon: Do they have any contracts?
GM: Yes, just one, us
Dragon: So you're valuing your business at £5m with no orders, no IP and you and other directors have been taking over £100k in wages a year.
GM: Afrik ID. It has no physical address but we plan to run it from the boot of a car. Synovate. What about that. We don't get anything from them selling tests alone though. Someone needs to buy the app with the tests too.
Dragon: The app that no-one wants to pay for?
GM: Yes. GDPR compliant, BLOCKCHAIN etc etc..
Dragons one by one: I'm out
LOL, far too much time on your hands. Suggest you stop claiming those benefits and go and get a job
Blaimthrower - that is very good, and I have taken you out of my green bin now so I can benefit from your future awesome insights.
Would those be the same benefits that Guy is now claiming?....I believe he's sent off a manuscript for a new fairytale book to supplement his meagre earnings :)
Can't remember who it was now but someone on this blog once suggested the SP could go to £1, £2, even £3. That's a mighty big contract!
Funny post, but also sad to those like me that are down -60%....
With genuine investers feeling frustrated and genuinely angry. I have taken this on board and will seize any further investment of this company.
I intend to hold my modest position but without investing any more in this company.
From what I am reading from genuine shareholders is mildly distracting.
All the best guys.