Snakk

[J R Ewing]

Agree. Especially since he wants to list a few companies going forward, why did he do this in a way that has ruined his brand.

My guess is that he thought he would make plenty of money by launching a handful of start-ups on the NZX. Add a pinch of growth, a splash of tech and a generous dollop of hype and watch the market lap it up! It hasn't quite worked out that way with Snake 1 so far - maybe it turns out the market is a bit too skeptical.

[Harvey Specter]

My guess is that he thought he would make plenty of money by launching a handful of start-ups on the NZX. Add a pinch of growth, a splash of tech and a generous dollop of hype and watch the market lap it up! It hasn't quite worked out that way with Snake 1 so far - maybe it turns out the market is a bit too skeptical.

To be Honest, SNK the business is pretty much doing what it was expected to be doing. The CEO seems strong. The issue is the shareprice fluctuations, manipulations from those with significant investments has cast it in a bad light. It is a shame this continued in so long. Handley got suckered there (naive?). You shouldn't have big investors in a small start up who aren't emotionally invested in the company.

Wasn't the 'list price' 6c?

[Longhaul]

Updated Edison report has been released.

You can download the report here http://www.edisoninvestmentresearch....t/snakk-media1

[J R Ewing]

To be Honest, SNK the business is pretty much doing what it was expected to be doing. The CEO seems strong. The issue is the shareprice fluctuations, manipulations from those with significant investments has cast it in a bad light. It is a shame this continued in so long. Handley got suckered there (naive?). You shouldn't have big investors in a small start up who aren't emotionally invested in the company.

Wasn't the 'list price' 6c?

I don't have a good understanding of SNK as a business, so if you say it is tracking OK so far I won't really disagree - I'll just say that to me, the numbers so far aren't convincing. What I don't buy is the idea that Handley is some sort of Guru who could dream up ideas for several businesses and would want to list them, B team them, etc all in order to share the wealth with investors he doesn't know, save the planet, etc. It doesn't really ring true to me.

BTW - I think the initial placement was at 12c, but you had to buy a few at market @ 15c in order to take part.

[Longhaul]

So despite SNK exceeding Edisons revenue estimates, Edison have revalued SNK at considerably lower than a previous report (April 2013).

Ahhh, you need to compare MCAP I think.

206m shares at 15.5c ($31.9m) versus 265m shares at 13.1c / ($34.7m).

[Cobber]

The shares are priced below global peers as investors wait for clearer indications that those returns will be realised.

I think this statement sums up the current sentiment. It's at a similar situation back in 2008-2009 when Xero kept revising it's break even point.

If Snakk can hit Edisons estimates for 2015, I'll be a happy camper.

[zigzag]

Poor old Derek is getting a big kicking on the NBR pages after his TV interview today. I never knew he was involved in internet gambling in his earlier days. Makes him look a bit hypocritical in my books to be off saving the planet now when he was a misery merchant only a decade ago.

I see he is interviewing people to be his right hand. With all the public w*nking he's involved in, I find that an unappealing job prospect.

Yeah. It was an internet gambling stock which I think was called Feverpitch. I still find the guy a bit flakey,but he was quite young at the time, and I do give him points for coming back from his initial failure.

[Cobber]

Feverpitch it was. Wondering if Derek will try and toss a coin as to whether he can get more money for further expsnsion into Asia. This woodland creature thinks he has shot himself in the foot by down selling and not being able to fleece the Ozzies through a dual listing.

Your move next Derek (and it ain't going to be easy when we all know your strategy already...)

Snakk has more than $5 million in cash. I doubt think they need to raise money anytime soon.

They can grow the business "steady as she goes".

(Personally I think this is where the adults like Mark Ryan come in. Keep the ship in calm waters but make progress in the right direction.)

[sommelier]

The Shoulder Tap has been 'won', by a 22 year old from Christchurch who wants to develop an app that 'matches you with a political party'. She got a $10k grant.

http://www.3news.co.nz/Student-gets-...2/Default.aspx

[sommelier]

Will there be more of these 'winners' to come? Or is his search for a right-hand-person still going?

The 'prize' - or role, was described as "key collaborator and driver across all my activities in New Zealand - including managing what already exists, dreaming up ideas of what ‘could be’, and turning the best ideas into reality."