Bai - being ai limited

[NeverQuestion]

I have a fantastic feeling about this one.

Reverse take over and name change was everything.. Cashing in on the AI hype train :P

[Sideshow Bob]

I have a fantastic feeling about this one.

Reverse take over and name change was everything.. Cashing in on the AI hype train :P

Add to that the 1.868 billion shares on issue and the track record of some of the main promoters…..

[winner69]

Add to that the 1.868 billion shares on issue and the track record of some of the main promoters…..

Cynics would say the 'cashing in' has already happened

[nztx]

Cynics would say the 'cashing in' has already happened


How do the forward figures look ?

the SP might be on the AI autopilot .. don't forget to watch carefully in case it abruptly stops & tips a few small
outfits upside down.

Still waiting to see if we see a rapid ascent to a lofty 9c on another small NZX listed skeleton from better days .. the fish heads have been poking in the dust forever for turbo boost particles to encourage onboard.. then maybe some Chinese whispers mysteriously appear and Bob's your uncle :)

think Bob's on the money BTW

Dont forget .. the man at the top of page say "Never Question" ..

[winner69]

Add to that the 1.868 billion shares on issue and the track record of some of the main promoters…..

But this couldveasy be the really big one Bob …..and we’d look back and say if only

[Sideshow Bob]

But this couldveasy be the really big one Bob …..and we’d look back and say if only

Indeed, it could well be THE BIG one W69. Well, it has AI in its name!

Market cap of $46m already.......to the moon!!

[Sideshow Bob]

Update.....already up 20% this morning!!

That's another $10m on the market cap.

That's good!! :cool:

[Rawz]

this is the background if anyone else was confused with where this company came from etc

https://www.nzx.com/announcements/423210

The directors of Ascension Capital Limited (NZX: ACE) advise that ACE has reached conditional agreement to acquire several businesses to be collectively branded “Being AI” (Being AI), a diversified artificial intelligence services, development and investment business that has recently been launched, together with two developed business enterprises (Transaction).
TRANSACTION STRUCTURE
The Transaction agreed between the parties’ values:
- The Being AI portfolio of early-stage and developed businesses at $45 million on completion date, together with a further adjustment of that purchase price via an “earn in” mechanism of up to a maximum of $35 million. The earn-in mechanism is linked to market performance of ACE’s share price post completion; and
- the listed shell of ACE at ~$1.7 million.
On completion of the Transaction:
- the vendors of the Being AI business assets would be issued 1,800,000,000 fully paid ordinary shares at an issue price of NZ$0.025 per share as consideration for the purchase of the shares in the various Being AI businesses.
- It is anticipated that the majority of the indebtedness of ACE as at completion date would be capitalised into new ACE shares at an issue price of NZ$0.025 per share.
- ACE would undertake a capital raising to raise new capital to fund the growth of the AI Consultancy, Ventures and Labs divisions. Due to the regulatory framework in New Zealand, the capital raising would be restricted to wholesale investors (as defined in the Financial Markets Conduct Act 2013).
- Share Option grants will be allocated for up to 132 million shares for current and future staff. The initial grants will be set at NZ$0.025 per option.
SHAREHOLDER APPROVAL AND TIMING
The Transaction is subject to approval by the shareholders of ACE under the NZX Listing Rules and the Takeovers Code. ACE expects to send information to shareholders before the end of February 2024, to enable them to vote on the Transaction at a shareholders’ meeting in March 2024.
The information made available to shareholders will include a listing profile of Being AI and an independent adviser report prepared to comply with requirements of the Takeovers Code and Takeovers Panel’s guidance.
Subject to the appropriate approvals, the completion date is expected to be within one week of the date of the shareholders meeting. At this time ACE would change its name to “Being AI Limited” and its ticker code to ‘BAI’.
The Board of ACE, post completion of the Transaction, will consist of two founders of the various Being AI businesses – David McDonald and Katherine Allsopp-Smith (alternate Evan Christian). Sean Joyce, current director of the ACE will remain on the Board going forward. In addition, there will be two independent directors appointed.
SUSPENSION OF TRADING IN ACE SHARES PENDING THE RELEASE OF THE NOTICE OF MEETING AND PROFILE TO THE MARKET
The Transaction constitutes a reverse listing which, in accordance with NZ RegCo’s usual practice, triggers a suspension of quotation of ACE shares.
ACE would plan to seek a release of the suspension once ACE has released the Notice of Meeting and Listing Profile relating to the Transaction to the market. This process is as contemplated by the NZ RegCo Guidance Notice on Reverse Listings, and is designed to ensure that the shares in an Issuer can only be traded where the market is fully informed about all material aspects of a potential acquisition, in the context of a reverse listing Transaction.

[Sideshow Bob]

Now 5c, doubled today....!!

Now worth $93m.

The trains away!! :eek2:

[winner69]

Now 5c, doubled today....!!

Now worth $93m.

The trains away!! :eek2:

Goodveh Bob

Wonder whose feeding the frenzy?

[winner69]

Bob ..reckon another 2.5 cents today to get to7.5 ..or all way to 10?

[Sideshow Bob]

Goodveh Bob

Wonder whose feeding the frenzy?

There is your answer W69......

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BAI/429008/416127.pdf

[carrom74]

Goodveh Bob

Wonder whose feeding the frenzy?

Shareseis Club.IMO

[Sideshow Bob]

Bob ..reckon another 2.5 cents today to get to7.5 ..or all way to 10?

I'd say double then double again......10c for sure*

To da moon!!

* ​Don't listen to muppets on the internet. DYOR....!!

[winner69]

There is your answer W69......

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BAI/429008/416127.pdf

They didn’t hang around for long did they

But numbers dontvseem to make sense

[whatsup]

Very interesting time atm considering when BAi was TRS ( before it collapsed into dust ) and the dotcom rumour was in play it was a BILLION dollar company !!

[Toddy]

You guys are always saying to do your own research.

I've tried and failed on this one. Dr Google has just confused me even more.

Will definitely be up for the NZX listing of the year prize.

[Charlie]

https://www.youtube.com/watch?v=goOm6kOYsXo

some info

[Toddy]

Thanks. Interesting and a hard watch if you like facts and numbers.

I'm sure that they will do well.

I'm more than comfortable having my AI exposure through Ift data centres and One NZ, who are probably building teams offering AI services at source.

Start ups always suck capital, and I would imagine even more capital in the IT sector as wages are not cheap.

Haven't looked at the details, but staff get chunks of stock once the sp has increased 600 percent. Yes, sp, not capital valuation.

Goodluck and be careful out there.

[whatsup]

https://www.youtube.com/watch?v=goOm6kOYsXo

some info

Charlie, based on listening to this utube I would say this is very fully priced ATM at 55 MIL !!
They are only bringing " some " ideas to the market , but have set a very high bar for themselves , lets hope they make this before they approach current S Hers for more capital.

Just my 10 cents worth from someone who has followed the promotors of this relaunch without too much success ( so far ) .

[percy]

Charlie, based on listening to this utube I would say this is very fully priced ATM at 55 MIL !!
They are only bringing " some " ideas to the market , but have set a very high bar for themselves , lets hope they make this before they approach current S Hers for more capital.

Just my 10 cents worth from someone who has followed the promotors of this relaunch without too much success ( so far ) .

1,868,018,828 shares on issue.
At 7 cents the market cap is $130.761 mil.

[winner69]

NZX says punters should read this
https://nzx-prod-c84t3un4.s3-ap-southeast-2.amazonaws.com/documents/companies/bai/Being_AI_-_Independent_Appraisal_Report.pdf

But not worry as in context of current share price the report is very much out of date

Whatsup mentioned 10 cents worth …be there soon mate 🧉

[Toddy]

NZX says punters should read this
https://nzx-prod-c84t3un4.s3-ap-southeast-2.amazonaws.com/documents/companies/bai/Being_AI_-_Independent_Appraisal_Report.pdf

But not worry as in context of current share price the report is very much out of date

Whatsup mentioned 19 cents worth …be there soon mate ��

No wonder the guy in the video when asked about the Financials just relied 'all the stuff is on the NZX website'.

Document of the year.

[whatsup]

NZX says punters should read this
https://nzx-prod-c84t3un4.s3-ap-southeast-2.amazonaws.com/documents/companies/bai/Being_AI_-_Independent_Appraisal_Report.pdf

But not worry as in context of current share price the report is very much out of date

Whatsup mentioned 19 cents worth …be there soon mate ��

Good luck with the reading Sharetraders, I struggled through 88 pages until I found the 89th !

[Rawz]

TRADE WITH CAUTION

NZ RegCo urges investor and potential investors to exercise caution when dealing in the shares of Being AI Limited (BAI).
The share price of BAI has risen from $0.017 on 2 April 2024 to $0.075 currently.
On 4 April 2024, NZ RegCo Surveillance issued an Issuer Price Enquiry to BAI asking it to confirm that it was not in possession of any material information which had not been disclosed to the market, and that it remained in compliance with the continuous disclosure provisions of the NZX Listing Rules. BAI confirmed that it remained in compliance with these listing rules.
BAI listed on 2 April 2024, following a reverse listing transaction. Under that transaction, the Being AI group of companies was acquired by Ascension Capital Limited (ACE) following shareholder approval on 28 March 2024.
The acquisition of the Being AI group of businesses was undertaken at a valuation equivalent to $0.025 per share.
The independent appraisal report published on that transaction concluded that, when the transaction was viewed as a whole, the terms and conditions of the transaction were fair to the independent ACE shareholders. NZ RegCo notes that assessment included the profile and valuation of the Being AI group businesses being acquired.
Investors are strongly urged to access and consider the information relevant to the recent reverse listing transaction of BAI, in support of any investment decisions. That information includes the listing profile of the Being AI Group, and the independent appraisal report. That information can be accessed at: https://www.nzx.com/companies/BAI/documents

[carrom74]

Looks like NZX is more worried. And is requesting the punters to exercise caution. Just wondering… was this type of an announcement ever posted on NZX before?

[Rawz]

Looks like NZX is more worried. And is requesting the punters to exercise caution. Just wondering… was this type of an announcement ever posted on NZX before?

i havnt seen it before but havnt been around that long. Good on NZX for saying something before more people get burned on this pump n dump

[whatsup]

i havnt seen it before but havnt been around that long. Good on NZX for saying something before more people get burned on this pump n dump

Dont think that this is a pump and dump at all , just the sharies newbys buying before they miss out on a business model that they possible dont understand, I wonder how many of them have read the 89 page heads up thats available to all wantabees ?

[Toddy]

NZX is scared because they don't understand the 89 page document either.

[Charlie]

Group with a Hong Kong office withe the same name ...beingAI

[nztx]

NZX is scared because they don't understand the 89 page document either.


Cripes - NZX issuing a Warning to Punters be careful in case they get badly QEX'ed ? ;)


Have they worked out what went wrong with QEX yet or too difficult & run away ?


WTF has got into NZ Reg of late ? ;)


If they cast their beady eyes around the other NZX listings they might find more lifeless skeletons
of shell companies making gurgling noises about reinventing themselves :)

[nztx]

https://www.nzx.com/instruments/BAI


$0.055
-$0.015 / -21.43%


Guess that nicely stuffed the weekend dreams for some ..

Who was that fellow who had a keen interest in Listed Shell puppets that go mysteriously up & down again ? ;)

Wonder if there are any other recycled shell puppets in the box ready to perform similar miracles ? ;)

[Toddy]

https://www.nzx.com/instruments/BAI


$0.055
-$0.015 / -21.43%


Guess that nicely stuffed the weekend dreams for some ..

Who was that fellow who had a keen interest in Listed Shell puppets that go mysteriously up & down again ? ;)

Wonder if there are any other recycled shell puppets in the box ready to perform similar miracles ? ;)

Eric Watson.

Long Island Ice Tea became Block chain. Something like that.

Brilliant marketing.

[nztx]

Eric Watson.

Long Island Ice Tea became Block chain. Something like that.

Brilliant marketing.


Where is he now ? .. after partying in a British Jail, having an Aussie mate try to claim there was
a huge Coal deal made that his business partner knew nothing about, then having to suffer from
the distant colder parts of his Actress partner's snowy Baltic estate seeing the Kiwi Taxman nail his
miserable butt to the wall in NZ Bankruptcy courts ;)


What a way for Erik the Great to depart from the halls of NZ Business Big Noter's list of achievers :)


How did the marketing with Bendon go ? ;)


Guess he left all including the SEC sitting counting the empty cups ..

[nztx]

Now here's an AI Start-up that's bound to be a ripping success:


https://www.nzherald.co.nz/business/ex-bell-gully-solicitor-raises-8m-for-his-legal-ai-start-up-but-can-you-trust-a-robot-lawyer/CRH5DE5VL5HOTHVWMJUPX5IEF4/


Ex-Bell Gully solicitor raises $8m for his legal AI start-up - but can you trust a robot lawyer?


It's NZH Premium class .. but all the same bound to be a little ripper - Nothing like joining in for a larger party :)


No bull dust on this start up - already flying off the starting blocks ..

[GTM 3442]

Now here's an AI Start-up that's bound to be a ripping success:


https://www.nzherald.co.nz/business/ex-bell-gully-solicitor-raises-8m-for-his-legal-ai-start-up-but-can-you-trust-a-robot-lawyer/CRH5DE5VL5HOTHVWMJUPX5IEF4/


Ex-Bell Gully solicitor raises $8m for his legal AI start-up - but can you trust a robot lawyer?


It's NZH Premium class .. but all the same bound to be a little ripper - Nothing like joining in for a larger party :)


No bull dust on this start up - already flying off the starting blocks ..

Well history has a few suggestions about trusting human lawyers. . . so yeah, maybe

[Toddy]

I think we can conclude that the crowd that invest in such ventures are the same crowd that never read anything that the NZX publishes.

[winner69]

Share price on way back up

Market cap $120m ..not bad for a legacy mail services business with a small school attached …….but with aspirations of actually some AÍ stuff ..one day

Guys from Clare Capital recalled the time that Long Island Iced Tea Corp, a beverages manufacturer, renaming themselves Long Blockchain Corp to capitalise on crypto tailwinds (which got them a share price lift of 350%+)

[Charlie]

I,m up 66.5%. Haha:t_up:

Dont mock, its just a bit of extra cash for fun. I was going to sell some yesterday but got my FIN wrong so it got rejected, and I decided just to leave it.

[nztx]

I,m up 66.5%. Haha:t_up:

Dont mock, its just a bit of extra cash for fun. I was going to sell some yesterday but got my FIN wrong so it got rejected, and I decided just to leave it.


Been onboard long ?

This shell has a lengthy chequered history I believe:

Here's an earlier thread:

https://www.sharetrader.co.nz/showthread.php?8222-TRS-any-ideas/page4


Way back this Shell was the old TRS / Ecademy Holdings one of two in-specie distributions out of Heritage Gold (Now New Talisman Gold NTL)

Failed E-Learning outfit - then put into Caretaker mode

it became TRS first, then ACE during the caretaker process - large consolidation / share cancellation

The caretakers had fun & games converting loans into more large bundles of scrip along the way

The Aussies & Chinese got to have a play.

Someone was advertising giving away shares in one of the Auckland papers I recollect .. all of a sudden small parcels were gifted to any who showed an interest mysteriously appearing on Registry statements out of the blue, only to be watered down by a later large cancellation.

At the end of the exercise - I had a lonely lamp post or two left .. which also promptly got cancelled somewhere along the line :)

The trajectory had been so good back then - there was only one place for any Cap Raise propaganda

The share consolidations / Cap raises and other footwork along the way has most likely washed all but the most stubborn, blind & determined of any original holders well & truly off the share register by now.

Would I consider a third entry into this bucket of bolts now repointed in a different direction all over ? ;)

It didn't take any AI to quickly locate some of the past history on here ..

[Nor]

When are they going to list NZ's entry in the nuclear fusion race? Fits inside a room whereas overseas efforts resemble a construction site.

[Toddy]

This takeover of VET and it's 15 staff will be interesting.

Presumably will be based on stock and stock options.

Settlement date 12 April.

So, the valuation of stock issued will have to be based on the current BAI market stock price.

Or will they do another insiders deal and say that terms and conditions were agreed pre date at 2.5 cps etc

[Toddy]

Is the nzx going to let this carry on.

[Charlie]

[QUOTE=nztx;1047492]Been onboard long ?

This shell has a lengthy chequered history I believe:

Here's an earlier thread:

https://www.sharetrader.co.nz/showthread.php?8222-TRS-any-ideas/page4


Way back this Shell was the old TRS / Ecademy Holdings one of two in-specie distributions out of Heritage Gold (Now New Talisman Gold NTL)

Failed E-Learning outfit - then put into Caretaker mode

it became TRS first, then ACE during the caretaker process - .

...........
I had some in TRS/ACE, THAT WENT TO NOTHING.
Bought some a few days ago. Just pocket money. Nothing serious.

[Lola]

[QUOTE=nztx;1047492]Been onboard long ?

This shell has a lengthy chequered history I believe:

Here's an earlier thread:

https://www.sharetrader.co.nz/showthread.php?8222-TRS-any-ideas/page4


Way back this Shell was the old TRS / Ecademy Holdings one of two in-specie distributions out of Heritage Gold (Now New Talisman Gold NTL)

Failed E-Learning outfit - then put into Caretaker mode

it became TRS first, then ACE during the caretaker process - .

...........
I had some in TRS/ACE, THAT WENT TO NOTHING.
Bought some a few days ago. Just pocket money. Nothing serious.

cant fail......not with a retired polly running the show. Tui joke?

[Toddy]

Well I called one of my kids this morning asking him to change to a real broker account as I'm not comfortable with his University Grants going into Sharesis. Or any NZX Companies for that matter. I said I would cover any NZX exposure.

[whatsup]

Someone is pushing up the buy side ever so cunningly this afternoon and so far they are achieving higher sales from the poor unsuspecting purchasers.

[Toddy]

Wild west.

[winner69]

Made an acquisition …announced yesterday …no wonder share price on fire today

[Toddy]

Yep, increased their revenue by 3000 percent. So shares should go up 3000 percent too.

[winner69]

Someone is pushing up the buy side ever so cunningly this afternoon and so far they are achieving higher sales from the poor unsuspecting purchasers.

A masterclass in how to feed the keen ones

[nztx]

NZ Reg going to eat their words & throw a book of speeding tickets soon .. or are they hiding under the desk ? ;)

The eager punters have probably decided that the last target for attention - BGI not worthy of further attention, but nevertheless in a hurry it went up well north on a Chinese whisper and then where ? ;)

[Charlie]

Well $113000 of trades is a reasonable amount for a wim.
one buyer wants $33k of shares.
800k on the buy and 25k on the sell.
What a week, !
lt reminds me of the story about Tulips in Holland .

[winner69]

Market cap over $200m already

It’ll be in the NZX50 later in year :scared::eek2:

[whatsup]

Market cap over $200m already

It’ll be in the NZX50 later in year :scared::eek2:

Unless its not ,IMHO very confusing buy side atm, nzx should be looking into this controlled market, a very strange situation if you ask me,

[Charlie]

Sold out at 171% profit. :t_up:

[NeverQuestion]

Full Disclaimer here. I actually hold very little shares. Less than 1k! (Was a shock to me also)

And purely because I was a holder before the reverse take over :)

[Ferg]

So many parallels with this video. The mythbusters team see if they can actually polish a turd.


https://www.youtube.com/watch?v=yiJ9fy1qSFI

[whatsup]

I wonder where she will settle after such a stellar start ?

[Ggcc]

I wonder where she will settle after such a stellar start ?
I am going under 5 cents

[whatsup]

I am going under 5 cents

Yes, I guess double the funding price is about it for now, Id love to know where the listing pump came from, it couldnt all be from sharsies could it