Tom Winnifrith Bearcast: I write a perfect script for a Versarien owning moron as I fall out with Lucian
This presentation sees Gfinity (GFIN) with one of its shareholders, a Mr Nigel Wray, aka Britain's Buffett, presenting.
Unfortunately a lot of early stage media and technology companies can look to have huge potential but then fail to really live up to expectations, and I think that has definitely been the case with Gfinity (GFIN).
I last wrote on leading esports business, Gfinity, in July last year following its placing at 5p when it looked as if, potentially, the game was on. Having just announced a £6.25 million placing at 20p this morning, it is now certainly all to play for. It is worth applauding a few involved here but I still have a couple of reservations / observations.
Having commented on Gfinity (GFIN), the market leading esports business, a few months ago (HERE) that it would be running on fumes by the end of June, this week’s placing was not a great surprise but, nevertheless, it was an interesting development and, as ever, when the facts change, one should reassess and I have become less bearish as a result.
With the interims of the leading e-sports business, Gfinity (GFIN), announced this morning, I give myself a pretty strong 7/10 for my preview HERE that I wrote less than a week ago. With the share price down from 14p at that time to 9.625p today, I hope you took heed.
With the interims of the leading e-sports business, Gfinity (GFIN), due by the end of the month, I thought I would put my investment analysis to the test and try my hand at an interims preview rather than the more traditional review which can often skewed by hindsight.
Gfinity (GFIN) is a company that I covered at the start of the year and at first glance its final results don’t look very good. This AIM-listed e-sports company made a loss of £3.6 million for the year up to June 30 2015. But this is the type of business that needs a lot of upfront investment if it is to have a chance of growing into something potentially very big.
Companies involved in the media sector are notoriously hard to value, as for a lot of them it is more about growth and potential than current revenue streams. That has been the case even with huge companies such as Facebook where its value and balance sheet at the time it was listed certainly didn’t match up!
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