BIT - Swings into H1 profit and doubles turnover

Morning, hope you all had a pleasant break. Oopse, some forgot to take a break.

Lambsto slaughter springs to mind. Still, the company have told you how they are going to hand the city boys a few easy, no risk million at shareholders expense, so I just feel sorry for those who can't see it.

But just for those, since I'm a nice guy, I'll tell you.

Bits can't risk a rights to existing holders, because they know all the spreadbetters can't take their entitlement (a downside of gearing).

So you'll get a highly discounted placing to their city friends, who will then short at around the current price, which will be well ahead of the placing price. The price will then drift down to the placing price and maybe beyond as the share issue, and dilution, takes place. They earn millions in next to no time, paid for by dilution of your holding, which will be worth much less.

If no share issue succeeds, then BITs are history - that was, imo, the condition of that tiny loan they arranged.

What a mega city stitch up. How they have managed to massage the price to these levels on nothing but talks and initial agreements and nothing else is just a miracle. Doesn't anyone here realise the risks of buiding a business from scratch against established competition, with everyman and his dog also trying to get in the alkready overcrowded gambling market (which will soon be illegal in the States imo)?

We are in the era of the megaramp - much worse than the tech boom, this is even more insane.