Bullion By Post (Crowd Funding)

[Keithoil]

Just received an email from these asking if you would like to invest.

 

I don't think this is for me.

 

 

https://www.crowdcube.com/investment/bullionbypost-17039

[Paul]

oops ! you just beat me to it Keith posting - i got the same email

[motorbikez]

ditto

[TheBullionBoy]

£2,200,000 for 6.2% equity.

 

If Dragons Den has taught me anything, that would value BBP at just under £36m. For a company making £2m or so pre tax profit, then that's a multiple of 18. Please correct me if I'm wrong. If that's correct then I'm laughing myself to sleep tonight. What am I missing?

Edited November 28, 2014 by TheBullionBoy

[HelpingHands]

I haven't read it properly but what would their current stock value at?

[daz]

£2,200,000 for 6.2% equity.

 

If Dragons Den has taught me anything, that would value BBP at just under £36m. For a company making £2m or so pre tax profit, then that's a multiple of 18. Please correct me if I'm wrong. If that's correct then I'm laughing myself to sleep tonight. What am I missing?

In that case , I'm out

[SilverTrader]

interesting developement lol

judging by the company info they dropped the staff level from 20 a year ago to 12 now

maybe the competition are putting the squeeze on bullionbypost and they are getting a little desperate for money ?

very weird a bullion company crowdfunding ! no idea what to make of this lol

[TheBullionBoy]

Not even a minimum of £500 for a massive 0.0014090%? Lots of zeros there!

[Kman]

I know the guys who owned gold/co/uk 

[Clens92]

I know the guys who owned gold/co/uk 

 

They must have hit an impressive pay day with that sale?

[Kman]

They must have hit an impressive pay day with that sale?

 

It was sold in a package of names from one domainer to another for £400k

 

http://www.sourcewire.com/news/64227/gold-co-uk-domain-packages-sold-for-400k#.VHpjizGsWSo

 

I'm not 100% if it was sold again to another domainer before being sold to bullion by post. 

[II DALTON II]

This smacks of desperation.

[Paul]

I have had an email from BBP and the crowdfunding  offer has now been withdrawn, reason being:

 

"The interest generated by our crowdfunding has presented some unexpected opportunities for the

business that mean we have decided not to continue with the crowdfunding campaign.

This is the right decision for BullionByPost, and will best enable us to focus on delivering our
vision for the business."

 

Read of that what you will

[BaldyBob]

They have harvested enough personal details from gullible investors for future targeted advertising of those likely to pay over the odds for their PM's?

[Paul]

I have only bought from them once in the past and it was a small order of x10 silver coins.  So pretty small fry buyer.

 

On this basis i can assume that their entire customer database of buyers have been offered this crowdfunding expansion thingymgig.

[ArthGoch]

I have had an email from BBP and the crowdfunding  offer has now been withdrawn, reason being:

 

"The interest generated by our crowdfunding has presented some unexpected opportunities for the

business that mean we have decided not to continue with the crowdfunding campaign.

This is the right decision for BullionByPost, and will best enable us to focus on delivering our

vision for the business."

 

Read of that what you will

 

Reading the skepticism laced into some of the questions in the forum section of the pitch I think BBP realised that they were onto a hiding for nothing. 

 

One question response that did make my laugh was when one potential investor queried why almost the same amount of money that was being requested by the pitch was drawn as dividends no less than six months ago. To paraphrase Stein he said he needed his part of the money as he had a young family and wanted to do up his house. - It did not read well and came across poorly.

 

Their CFO was also poor in his attempt to justify the valuation of the company as well as the low stock offer vis a vis funding required. Came across as never-neverland and that we are an existing business and we know how much we are worth. 

 

What is worrying is that it is common practise when raising capital to explore more than one option. What I do find strange is that they did not let the pitch proceed for the time set and in the scheme of things pulled the plug very very early. Nothing ventured nothing gained as the saying goes, and even if the pitch was fully subscribed they were not honoured bound to go with the offer - As you say, read into it what you will. 

[Keithoil]

This is what you get if you click on the original link.

 

 

[FinanceGuy]

According to the Sunday Telegraph, Rob Halliday-Stein, who owns 90 percent of Bullionbypost was considering putting the company up for sale 2 1/2 years ago and hired advisory firm Grant Thornton International Ltd to advise him.

 

A sale would raise additional funds to hire staff and expand overseas, in particular to Spain, he said.

 

 Now, in 2014, he pays himself a large dividend and six months later seeks over £2 million via crowdfunding, and almost immediatly aborts the offer.   What is going on?

 

You can see the article in the Sunday Telegraph on Bloomberg at:

 

http://www.bloomberg.com/news/2012-07-29/jewellery-quarter-bullion-may-be-sold-sunday-telegraph-reports.html

[BaldyBob]

The huge demand in Spain is being led by some nutter buying up all the gold French Francs

[Tn21]

Interesting hmmmmm 🤔

[HerefordBullyun]

Come on @Tn21 keep up!  Tbf thanks commenting its did spark my attention - I'm sure there's plenty of gems in the archives TSF vault albeit I know some has been deleted,,,, but Im too busy posting drivel on the NBS....

[modofantasma]

I was only just born when this thread started 🤣🦖

[Darr3nG]

3 hours ago, modofantasma said:

I was only just born when this thread started 🤣🦖

Happy Birthday! 🎂