Earnings Season - The State of the Market - 2020 Market Review (8 of 8) w/@876Invests1

Episode Date: October 8, 2020

This week on the return of Earnings Season…@RTRowe & @HDanhai wrap up that long running full market review with the help of their guests from @876Invests!They pick up from Sagicor (SJ) and go all the way to XFUND, running into a few good tangents along the way.(Guests: Henel Vidal, Schaunn Anthony Thomas, Nicholas Dundas) Come for the gems💎, get them in time…⏲! Thank you again to 876Invests! 👈🏾 Give them a follow here. Contact Us Here 💻 [e-mail] Follow us on Twitter here 👇🏽 www.twitter.com/Earnings_Seasonwww.twitter.com/RTRowewww.twitter.com/HDanhai🔗Links🔗The EveryMickle Telegram Market News Channel 👉🏽https://t.me/MickleSignalsThe EveryMickle Mailing List 👉🏽https:/bit.ly/MickleListSSLVC - https://bit.ly/33HtZEXSSLVC Boost Snag - https://bit.ly/3nxpS6bSJ & Playa - https://bit.ly/3lpeFD23 Unis Move to Blended - https://bit.ly/3lrAZvUSVL's Caymanas Financials Announcement - https://bit.ly/2GRgWrrSVL's Caymanas Financials Announcement - https://bit.ly/36K8hCc🗣Shoutouts 🗣@KalilahRey, @BlueDotInsights' @mannishwaata, @5Solae, @dayan876, @VictoriaMutual's Rezworth Burchenson, @TTechLimited's Chris Reckord ★ Support this podcast ★

Hi guys, Randy here at RT Around Twitter and this is another episode of Earnings Season. Just giving you a quick heads up for this one. Those of you following me on Twitter would have known that one, we are on a hell of a break. We've been on a break for a little while now and two, I said we're coming back, right? So step one of coming back is that we have to tie up any loose ends so one loose end that we had going for a while was our total market review we were right near the end and what you're going to hear in this episode is us wrapping that up we moved from sagicore jamaica all the way to

i think x fund myself my co-host and i who you're, and Vidal. Sorry, Sean, Enel, and Nicholas. Enel is Enel Vidal, sorry. So you'll hear from me, my co-host, Danai, and the guys from 876 Invest here. I do my best to try and name everybody when they speak. So if you're not sure who you're speaking, just listen for a while and they'll be named. The voices are pretty distinct, so you'll recognize the guys. I just want to thank you again to 876 invest for doing this with us and thank you guys for being patient and those of you listening now i hope it's worth it there are a couple of good gems in this

episode i think um let me not try and name any you guys will hear them when you listen so yeah enjoy links as always to some of the articles mentioned in the episode are in the show notes so check your show notes and i hope it was good and thanks again for your patience you're listening give us a thumbs up tell us that you're happy to be back send us a tweet if you're an apple user if you're using this in your iphone or your itunes leave a comment leave a um a review give us five stars please it goes a far far away especially with rankings so please if you're back we're back if you're happy that we're back you like the content let us know all right so i will not take any more

of your time let's get into the episode and i hope you enjoy one last thing let me point out that i do know that the sound from a couple of the guys are not it's not the best and it was actually pretty bad but this has best as we could get it cleaned up so i know that you might not be hearing them very clearly but i think every point at which it gets really bad i did manage to get them to repeat so you won't miss anything so if something isn't clear either rewind it a little bit or just listen a little Chancellor, we ask him to clarify. Alright? Next up, we have the actual Sajikor Jamaica, which I know we've

spoken on a million times. I would guess he said something on it, and then we went to Stanley Motta. Sajikor Jamaica, how you guys feel about it? I start with email Dundas or the Satchikor twins

I don't know tell us Dundas so we spoke about eminent in the area as well I like Satchikor I like SagiFord. They are a company that likes to nurture what they have.

I think they focus on quality. And we saw that where they had acquired something, I can't remember where they had basically increasing capacity for insurance. Someone who was basically there. But they, you know, brought them in and nurtured them.

Oh, they bought it from NCB, right? Yeah, remember the name? The point is, they... The advantage. The advantage. The advantage. The advantage. The advantage in general, yeah.

Yeah, so I just like that as a court not big services I think that they're a company that that is keen on efficiency and I think that long term that's going to help them I think that also it would in terms of not for me personally it's kind of too long for my life i think that they are well diversified you know they try to put their hands here and there uh but for right now especially in the same financial sector landscape where we have to expect losses based on you know the change in environment you know right now it's not really the best time for them but it's still a strong company i think where was it like but it was 18 successive years or quarters

of of revenue growth up until last time yeah that's that's so impressive yes yeah i think it was almost 20. i never was it 20. i remember and that's the memory card was 18 but the point is it was 18. I think that's something that you can't really

ignore. Consistency in improvement is very important. Especially at that size.

Especially at that size. That puts them on a pedestal for me. Right now,

given the climate, I would say eh. This is not advice. This is just my personal opinion you know but yeah that's the style you're not feeling you're not feeling them right now you think that what's the last thing that they reported to us the in terms of profits i mean their last reporting period what was it i'm trying to remember if

have they told us up to march i cannot recall anything actually reported up to march i think it may be december before that yeah i haven't seen a hospital in a long time yeah i think their their financials were delayed as well yeah they're paying at the oh no no no no no no no no no no no no no no no no us a Oh no, no Oh yeah, the cost of the card Yeah, yeah Because I know it was in the Sajikor financial numbers The parent company I don't know if it hadn't come out as yet

But no, it had come out It had come out for Q1 Q1 2020 You know, in the midst of all this The price makes you kind of The price makes you kind of the price makes you kind of what attractive yeah to you i mean this is a current this is coming from where it's coming from 45 coming from saturday year 72

it started the year at in the low was like 58 it was like 36 or something like that but we're still we're still near enough to the lowest boy i mean yeah yeah i i could easily see it undervalued here even though we know finance stocks tend to be generally undervalued on the local market historically on the local market um but the the effect of the expected credit losses have to be considered right if they're not already included but if they can grow if they can grow their they're in a good place i think and they're in a good place if they can grow and continue the growth they had some they had some net profit slippage and some revenue slippage which is concerning because it only goes up to much yeah so april may june might be the the painful um the painful

quarter for them and the group itself is still impacted by so many things. I think the most interesting thing maybe is the XFUN move within the group, the parent buying some of XFUN from them. Is that it? Hello? Was that how it went? Or was it... Hold on. Or was it just that they were just buying some XFUN shares?

Not XFUN. Flyer shares. Not Flyer shares. Flyer. I know they bought Flyer. I was like, yeah, hold on. Wait, it wasn't XFUN.? Not XFON, Playa shares. Playa shares. I know they bought Playa. I was like, yeah, hold on,

wait, it wasn't XFON. Yeah, they bought Playa. I'm not sure if there was anything else. I know for sure they bought Playa. Sorry, yeah,

I meant to say the parent company buying XFON shares from, buying Playa shares from XFON or was it just that they were buying

Playa shares? Who did they buy the shares from?Fund or was it just that they were buying plier shares? Who did they buy the shares from? In the article I saw, I didn't recall seeing XFund. I know I saw something. That's just something that came to my mind that I would have remembered. That would have jumped out to me.

I don't know if that actually happened. Meaning I don't know if it actually if that actually happened um meaning i don't know if it's from x fund that they bought the plier shares it appears to me to not be that way because the article where it says sagicore parent by stake in plier says it reads the sagicore network now holds 16 of plieraya shares, mostly through Sajikor Group Jamaica and its managed funds. So that does sound to me like they bought it from Sajikor in any way, XFON or whatever. Oh, so double in the...

Or their parent. Most of which belong to who though? Mostly through Sajikor Group Jamaica and the managed funds. So Sajikor Network overall, the whole entire group from overseas come down, holds 16% of the

player shares. Most of that is through the Jamaica, Sagicor Group Jamaica and the funds that they manage. Are you looking on Wednesday, July 8th, Gleaner article, Sagicor parent buys stake in player.

They are sending the SEC form. Okay. Then I sending the SEC form. Okay. Then I send him an offer. The wording there is very ambiguous, right? Mostly through the Jamaican group and its managed funds.

Jamaican group's managed funds? Yeah, I get you. Companies lie. Companies lie. Yeah. funds jamaican groups manage funds yeah i get you i get you yeah companies lie companies lie yeah you see there that's not very clear that's like i never say i don't know karen i said i don't know karen you get me yeah but we never know such a really name trina that's what i say save her as Digicel. Sajikor's fates are tied to a bunch of different things.

A bunch of different things and I think there's a lot of reorganization going on. I am very risk-averse, believe it or not. I don't like jumping to things that i can't see my way out of clearly yeah and yeah and yeah this is a level of uncertainty that i am not necessarily comfortable yet but wherever there is risk is a hallmark of profit wherever there's risk there's profit so somebody can gain from this eventually just a matter of how long how long you'd have to wait uh so next up we have Stanley Mata Limited which is a nice quick one because it's what is Stanley Mata Limited one building because it's what is Stanley Mater limited one building well not one building but one one address so one complex yeah all right one complex along

Halfway Tree Road and they make the money from their tenants right and it's really one big tenant which is a BPO. Yeah, absolutely. All right. And the BPO employ a couple of hundred people and has a bigger effect within the area. It's in the half a tree area. So hundreds of people, hundreds of people that eat food, there's a huge tail effect to it. I'm saying that so people can understand

why you can't easily lock down because you can't send the people home or lose a contract because so many knock-on companies will get hurt including stanley matter stanley matter itself make it money from rent from those bpos or from that bpo and its other clients right on the complex and uh yeah i think the only thing that would affect them is if the rent comes into question. Right. So I remember somebody saying something about the rent recently. I don't know if you saw an article on that Danai, or you saw anything on them on the rent? No, something I think like the tenants, because I mean, the concern is if the BPO loses clients then the BPO can't pay its rental bill

which means that Standing Motor would immediately have a one month standing motor working on payment plans for COVID affected tenants ouch how that go all right yeah so we understand

how that might be a big deal because that is their direct money. I won't read the whole article. I will put it in the show notes, but I'll give you just very quickly. Their biggest client, I believe, is Alarica, which is almost a dirty word in Jamaica these days. So Alarica, which is also why Alarica couldn't lock down. Wow, I wish I had known that before I said it. So yeah, they have lease agreements with Alarica. And Alarica obviously needs to pay the bill

for them to get paid. Second is GNAC, which I suspect GNAC will pay their bills because I think they share some interest there if not some leadership and transaction e-pins which is another company within i think a family group yeah that's how that's all suddenly matter comes on to me i, I don't own any and I probably will never own any, but I, as far as I'm seeing, I mean, they come down to rental. People either pay their bills or they don't and if they can't pay their bills, then Stanley Matter dead. But because so many of these companies have such good ties with Stanley Matter, I believe Stanley Matter is within the same do they have any obvious link to any other listed company than i do i think there's a building on complex you're not building a complex yes i i don't i

know genak is one of gina is one of their clients is one of their tenants definitely but i don't know if if there is an obvious public link between them other than that business transaction okay yeah uh but yeah i i suspect gennaker will continue to pay their bills um i don't know if alerica will be able to continue to pay their bills i think that is what's important if they if they are then that's what they are but they're a real estate company that's boring stuff right meaning it's low and slow money yeah but you're right i see the mention in there i'm just glancing through and i see that mention in their covid19 outlook that they have some capital projects for the year which they push the next year 2021

um and so they say that they don't expect any shorter and financing issues to affect them but they do continue to monitor it come down to the rent that's what come down to the as long as people keep paying their rent they'll be good people stop paying their rent they're in worries so as long as alrica stay open or if alrica close somebody else come in then they're good otherwise worries uh next up sos station and office supplies a nice junior market company i haven't seen one of those in a while right that company but jesus that rough corner is not enough for now yeah man he's not nice yeah i'll have to say that it's not nice yeah i'll have to say that yeah work from home

they're they're pushing for them they're pushing that's it they have a social media push a marketing push hey if you want to build a home office yeah you know i mean i bought a desk but it wasn't just because corona but yeah i don't know how many people going to do that you know how much revenue you're gonna make up as opposed to like people i know my mother's workplace for example had like contracts where they say all right every such and such time we need this we just i gonna need it i don't but right now like half of my mother's office is not in office so exactly everybody trying to save on that expense line yeah we don't need all of that stuff so you can keep about three quarters so wow yeah like what what happened in that case you know like the revenue i don't know it it's sticky i wonder we had shortings indeed

indeed this would be an interesting show right because also when you're home you use a lot less office printer, office everything so stationery itself also gets a limit, schools the bar seeks the notebooks

schools out immediately damn oh there's like half a term gone and nowhere in summer and then there's no reason to know yeah what they had in terms of expansion um in terms of expansion they had grenada they're shipping stuff to grenada but nobody's nobody's it's the same thing in grenada i'm sure shipping stuff to Grenada but nobody's it's the same thing in Grenada I'm sure, nobody's going to work nobody's going to school I saw an article that

three universities in Jamaica are looking to just have classes online for next semester that's actually not what that article says is that what it says? no, what it says is they're going to have a blend so like they're saying

it says both some are doing fully online yeah and some are still doing, everybody I think the major UECU so UECU

and NCU are going online so some of the bigger classes will have either fully online or both online and in person for the big classes so the smaller ones will still be in person well they will try to accommodate some in person but the big classes for sure will be on there. The overarching point is that it's going to be decreased significantly. Yeah, they're not going 100% face-to-face.

It's pretty much what it is. You're like, we're not taking 100% face-to-face in September. Yes, and it's so goofy. You know, actually, for my program, they reduced my school fee by 15%. Really? I wish you would send me program, they reduce my school fee by 15%. Really? I wish. Yeah. I wish you would send me back 15% of my school fee.

But I was. Send back. Yeah. It was a good year before exams and all of that. I'm going to get back the money. No, man. No. It's a new semester.

That's it. Oh. Oh. Okay. Makes sense. Okay. But that's funny. I don't think you can actually i don't i don't think i can keep up the blended thing too much of their revenue is linked to having people on campus yeah remember say as far as we know you know they still have to pay 138 student living

so them them can pay 138 student living 90% of that money versus bringing the students and let them do it you mask up and go to school, trust me yeah, I was really surprised to see that, because I really thought that they were pushed to have for that reason I'm sure they're working it out, I mean on the flip

side, if I can charge you I'll give you about 15% if I can charge you you know i'll give you about 15 if i can charge 85 of your um school fee but i can reduce my running costs by 30 or 40 because you're not there it might work out so i end up with more cash you know i really want to say that's it because this is my thing was msbm which is different different management from like ua yeah so i mean i don't know how much money they have but we all know this different you probably won't really have habits like that

you should know you should know by now say look outside our business and say them habits is a different thing when you look inside. Yeah. Yeah, I know. Remember I said people, the CPJ box deal can save CPJ. Oh, of course. That's funny.

SOS said them increasing production for the back to school. But we don't even know how back to school going look right now they said that yeah there's an a loop article that i'm looking at right now what regular school regular school times how were they doing that's a good question don't i how were they doing so increase production going mean what for them exactly the man didn't start off the match the match report the first quarter report with a promise you know like when you know something bad you have to tell your mother listen i left you guys i was in school early i left school early right and i was heading

straight home past the game shop right and as they're heading into january of 2020 sos was prepared to continue to reach new heights and for the first two months of the year everything was going as expected then everything changed when the fire nation attacked oh wow um that is how powerful that show is i've never watched that anime and I know exactly what you're talking about. Damn. It's the greatest. And it's do better, Andy. But yeah. Wow.

In January, we exported our first container of the year with products being delivered to Grenada and had plans for an additional two overseas projects to be delivered during March and April. And then the fire. I mean, during March and April. And then the fire nation.

I mean, the first two months of the year had SOS on target to surpass our best quarter ever, which was in the first quarter of 2019. The man really set it up. I mean, really, I was saving all this money, right? With that travel best. Yeah.

But then the fire nation. SOS is going to really go through some pressure. And it's, I mean, there's a part of me that loves when a small company goes through pressure like this

because that's when you often see changes happen. That's when you see them either show them true potential or you see somebody else show them potential and come in but it always changes things uh looking on the top 10 of them though qwi is the number three shareholder and number 10 according to them is bridgetown Management Services Limited. I don't know if that's a Barbadian company or a typo. SOS themselves is going to have to go through it. I'm not going to say it wrong.

I don't know anyway, because I also don't think people at home buying books for them kids like that. And if so, it would still not be anywhere near outside. Yeah. But then when the years start back, it'd be be anywhere near outside. Yeah. But then when the years start back, it'd be good to talk to a parent on that. Because I said the years start back, and yes, the child has to be home, right? Cool, the child is home.

But what do I buy for the child? Do I buy the same books? I want to know what parents actually think. Are you going to buy the same Se so like i want to know what parents actually think are you going to buy the same seat books for your kids i have a younger if you're working from home what do you print oh well tell us tell us yeah so what honestly my mother has just been she does we're still trying to figure out fully what school in september is gonna look like but she's my mother is kind of just waiting to see so she's not really doing a whole year for the spending from now or planning to do it even in a

july or beginning of august because she said she's waiting to see what happens and people in work seem to be sharing in my office they seem to share similar sentiments where they're like they're trying to wait to see what's happening so this whatever is happening now in this current term they would have already had the tools for so it's not like you needed to eat i don't know how many new books you don't need to buy midterm as opposed to at the beginning of the term so like that spending i don't think is gonna be as big but for the next coming in september for the school year and everything that big shopping the people said they're really waiting to see what the school is even gonna look like before they start to spend on that so i don't know if they're gonna be buying books right now or pencils pens those kind of things i won't ask

what school but like what level school high school prep school what level uh mostly high school people is who i've been talking to just based on no man for your sister oh my sister is in high school high school yeah my sister is in high school okay i don't know when i think seat books i think prep school primary school yeah same as well are the big book the police why don't the big police book them are sick the big book the police buy. The what? The big police book them. Oh, wow. What I'm figuring is I'm figuring if the mentality, even if they may not,

so even if the people were not buying seat books, I'm figuring the mentality might be similar. So if you're not buying, if you're holding off on buying school supplies until you know what school is like, then it doesn't matter if you're buying a seat book or a mead book. Because you're holding off to see what it looks like oh i get you i get you yeah yeah so that's really where it was so yeah that's where i was tackling it from based on

those conversations that's true i like i like that sort of thinking and the the company point is a major point i mean if my employees are working from home I'm not rushing to buy more printer paper but I'm still saying the email that says print this off and really rain I just not thinking about how you buying your box and so struck used to come here and I used to pay them I don't but I don't know how you buy it maybe you you go Fontana and buy it. You need to get that printed. Yeah. You have to print it. Yeah, or you just don't print it.

Yeah. So that sort of shift really is a major thing for them. And the furniture also is another one because if I had any refurbishing to do, I'm not doing it. One of their largest customers is the BPO sector too. And most of those guys are you know yeah they're no well they're still open you know huh they're still open yeah but yeah they're open but i think a lot of them are trying to find a way to implement some form

of remote work a lot of them yeah a lot of them are are so people who are remoting but even on a more permanent basis is what I'm saying so like they're working remotely now because of pandemic but I think based on again friends that I have who work in the BPO sector I don't I'm not really speaking to a lot of the higher ups on those things but just based on what they

have heard from their people it seems that they're if they can find a way to secure a certain information, which they have been as we see people are working remotely, so there's some form of security. Based on what those conversations have led me to believe is that in some

of these BPOs, there are policies being developed for after COVID, there to be a remote work policy within the business itself. But you know that remote work thing has been going on for a while because I know somebody that has been, when they were in the BPS sector,

they were working from home and this was from last year. I know people have done it, but on a general, you know. Yeah, it's something that they have been doing. I even, I was watching Khalilah show as well and one of the persons that came on. Big up Khalilah. Yeah, big up. Big up taking stuff. yeah it's something that they have been doing i even i was watching um kalila sure as well and one of the persons that came on yeah bigger bigger taking stuff oh and

one of the things that one of the hotel manager came on said is that a call center actually rented out some of the rooms at a reduced price to host some of their um workers in while they work yeah that was a very interesting point i found and in cayman no this is in jamaica really word word that is a that is a good that that is that is interesting that's all that's in there uh luckily there are no are there any listed there are no listed hotels anymore well technically ouch technically because there is x fund uh so sos will like it but not right now they're going to have to go through the SSLVC, the long-term wow story on the JSC is our next one. I'm putting a squirrel at your feet, Danai. All right.

Why, Danai? So, as it stands, I don't think they're in the best place right now Nope They've sold one of their portfolio companies back to the principal So, Big Up Larian

do that, bought back their stake from SSL But they haven't received the pay job So, we'll see They're an author thing there your stake from SSL. But I'm going to say the page up. It's so easy. They're authorizing there. So Muse and... Is Muse still operational? I do not know,

but I do not think so. But I do not know for sure. I had a recent leave for one of their companies. The bar central founder ceo has moved on to the business in something else yeah real estate i think i think that's their i think that would be one of their own operational places so why yeah yeah it might be different for them and then i see that they're owned by the sL. SSL Group. And SSL Group seems to be reorganizing itself

in a different vehicle to do the business that this company does. Yeah. It would seem that way to me. Yeah, they're doing the exact same thing. It's just that the new thing that they formed, Delta Capital. I would say the exact same thing.

Larger. Larger investments, thing. Larger. Larger investments. Basically. So Delta. There is an article. I'm not bringing it up. There's an article. What's it called? Delta cap.

Oh, Delta cap. Okay. Yeah, yeah. Harding Roskery. Very effective investments. There's a line in there that might indicate that, you know? So SSL VC and Delta Capital. Delta Capital is, speaking of itself,

is a PE firm and a private equity firm. So VC is private equity. It's just, you know how the industry, they talk, they use these words to say different things. Well, VC is private equity. It's at a different stage for them than private equity people usually speak of. So VC is venture capital.

You know, you start out and you need some money. Venture capital. Yeah, so somebody invests in pe is yo we're at whatever stage and we look good and this guy with private money will come in um the delta did speak to the type of investments they'll be doing you remember what size industry they said they'll be going after i mean i'll be honest i have no idea what the hell is going on in this yeah and i've heard about like sheer movements and ownership ownership disputes yeah and i just have really I really don't know where this leaves

SLVC in their eyes because I can see where things that could be taken up by SLVC can be taken up by Delta Cap instead yeah that overlap is concerning to me and I mean it'd be good

to bring it up at their AGM when last have they had an AGM. When last have they had an AGM? I literally can't tell you last that I've heard about an AGM from them. Maybe they've had one and they just don't know. So you saw something. There's a line inside the article. One feeds into a lot of Delta Capital, how private equity deals and SSL as a brokerage will lead the fundraising for DeltaCap and get paid for doing that.

Harding said, SSL growth equity family is made up of four companies, SSL Asset Management, SSL Capital, SSL Jamaica, and its listed subsidiary, SSL VC. Through SSL VC, the group backs startups with equity injections ranging between US$250,000 and US$1 million. DeltaCap is looking to take anywhere between 5% and 51% in larger venture companies with better cash flows and a potential scale than those targeted by SSLVC. Okay, so they're saying that DeltaCap definitely exists in a realm separate from... I'm sure... Well, I shouldn't say i'm sure that they'll have some overlap and so it plans to be more active in the involved actively involved in the day-to-day operations of the business okay so um and what a name that they actually call sslvc or they started they told us at one point that they changed the boost ventures? I think that's squash. Boost, I don't think that's a thing anymore. Did they squash the name change?

They told me that they're changing the name. Yeah, I think I remember something. I'm sorry, I didn't want to speak out of turn. Oh, wow. Yeah. Yeah. Suffice it to say that I don't think i'll be buying sssbc anytime yeah i'm not even sure what's happening in there i'd love to get to yeah this is a vc hit snag that is as it seeks new name to boost outlook general i'll send you both articles yeah yes please um we're wrapping up so let me let me push through to the end here the next company we have is svl supreme ventures limited which one i guess wanted like because i know and i know it

oh wow i was meeting and talking i cannot monitor i cannot monitor our gaming bias i don't want to get talking to the u.s market but i also own the job you also own what job keys oh draft games okay the betting company yeah the supreme ventures uh when i had first seen them what my eye was cash i found that they were they were really they were they generated a lot of cash a lot of cash revenues and i thought that as a result of you know having that much cash on hand and being able to do it uh which was generally through acquisitions i I appreciated how much they were aggressive with acquisitions. Every two weeks, if so much, you'd see an article saying they bought out a percentage of somebody. They bought out any bet, they bought out post to post. Yeah, I didn't understand, but there were so many. And I thought that they were positioning themselves to be the superpower in at least the region.

You thought, so you don't think that anymore? I still think so. I just meant what happened when they first got my hype. So yeah, I still do think so. Just to one drawback I can think of noise obviously came on us expenditure I mean it's a part of I don't it's yes about the caribbean culture we are gamblers it's the reality and i don't think that especially with them having their hand going further and further across the region uh they expanding to guy and recently i think uh they know what's that it's been a while now oh the guy yeah they It's been a while now. Oh, the guy now? Yeah, man.

They made the push and they're looking at the thing, the digital betting and the app they have which they want to push strongly out here too. Mm-hmm. And that's one thing

I'm looking forward to as well. The app, you know, to have the online platforms and all. But they also announced two recent, two new things recently.

I wonder what you think about them. They're pushed to Africa. two new things recently i wonder what you think about them they're pushed to africa i didn't hear about a push to africa let me say i have a message i think but yeah they're pushing to africa they want to they want to open business down there and stream stream basically and they're also looking to set up a tour a tour i believe where they can come to the s cell they were partnering with um chukka wasn't that tour with you yes that's true on to the racetrack and give you this whole rundown of the history and all that

so that'll be some extra revenue for them so funny they become a Tory site now at this point and even even without these major things every every minute they still

don't have a new game like they always find a way to have us involved and you know in bits and pieces increase in the revenue stream and

those are I mean as I said I love I love seeing companies that generate cash properly if i was supposed to i don't get too deep into like what actual company valuation is but you know and the value what the value of a company is the intrinsic value is what their assets can produce for them right and supreme ventures they they produce cash they produce their revenues they make revenues from their assets

consistently and they grow with it a lot. So, you know, I like that. I like that a lot. And I care about management as well. And an interesting point I heard, again, Ryan Strand speak

about is that when he was watching the Prime minister's the prime minister's speech on the coronavirus one one day in the middle of it they cut into it to have the supreme ventures there's nothing stopping that and i'm like nothing stops i think randy spoke on that before cash but another apple jar brother if you can catch the rake, you can't make them do see it to give me. So also measure the transparency. You can't have something like that and not broadcast. You already know the perception of something like that.

It has to be in front of people so they can trust either the drone or the thing there. Right, right. So yeah, I think, I mean obviously we know about Corona making it worse for the registrar, but overall I think strong company, very capable, they have the capacity to expand, to expand their reach and they have been doing that and I don't see it stopping anytime soon. Also, right now, I don't want to get too much into saying it's a buy or not, but

it's a big discount. So you don't think the Corona mashup, what do you think about that? About how the Corona mashup affected him? You think it affected him more than just the race track? I mean disposable income is going to be down so I think I'd have a similar correlation with

spending on things like gambling. But it might not be that way because a poor man like us here in Brooklyn is not going to buy our cash. Yeah, but the bars were close for a while to him oh yeah that's true the bars being closed yeah yeah but it's not only not only bar you just have the cash pot shop near to the bar and those are open yeah cash for sure i was near it i'm gonna really outside so I didn't really see what was going on. The one over by my pops was open but it never locked. The bar was literally right beside the bar and the bar locked and the cash pot shop opened. One other thing that was significant and this is, oh, you asked about what else with corona.

Corona would completely destroy Just Bet for that time when there were no sports betting on it really. Sports betting, Just Bet basically wasn't. for that time when there were no sports going on really sports just basically wasn't there's nothing going on for like almost two months so that's going to be a couple of months but that's going to bounce back

that's sports it's the Caribbean people maybe we touch maybe we touch to other pressuring points though I mean, it's a personal thing. It's the kind of piece, I don't mean to. It's a better area. And maybe we touch toward the pressuring points, though, which is like one, all right, so you mentioned Caymanus earlier. You mentioned Caymanus. But you didn't mention the fact that now they're being open, showing the Caymanus books separate from the SVL books, which I think

I suspect that has more to do with internal things, so people don't have any misconception about what's happening with Caymanus. But it could, who knows, it could maybe they list Caymanus separately.

I'm thinking that as I'm saying this to you. That is a possibility I mean you show these books to make it open and if we're showing you the books anyway and we're running it anyway and it's maybe a trouble spot within the company it might be better for us to spin you off and us own your shares

and put some cash into it right and it won't be hurt by getting more money into it. Exactly. It won't hurt them, it won't hurt the group, and it certainly won't hurt you in a space

where you may want to be clear on the fact that there is competition in the space, which brings me to my next point, which is the impending, obvious impending competition that SVA will face oh yeah they've managed to not have any strong competition in a long long time locally and as they transform regionally as you mentioned that they are getting stronger but but they will have competition. They might face competition locally in Jamaica.

So that could impact them. However... Who's the mixed name that you think of when it comes to betting? Well, there's nobody else, really. There's nobody else currently, which is why... I mean, I'm sure legally

they can point out who is where for competition reasons, but I can't think of anybody as their competitors. I don't know if anybody has been in a competition. I hear there's competition coming up in articles around competition being tagged to the old runners of SVL. Maybe some of the old management. But as it is now, they are top of the roost. And it is now they are top of the top of the roost and i think that they're making money and they continue there exists the pull to be a cash cow and there is strength in the network that they are the network that they have um sports betting you guys mentioned i'm looking on the numbers now sports betting is only being four percent of their total business

i mean if the whole thing that is just a four percent hit right lotteries yeah lottery not necessarily material but not as huge a hit lotteries is where we know them have the big hit that's the catch what is the king of the roost right behind that he's mentioned don't set the eyes of other games i mean i think they have money time yeah man you can't go around the money time, man. But if I'm in a bar, I can't really do money time, so I got to drop off there, right? So maybe there might be a small dip from them.

Added to that increased competition, I could see the price dipping a little bit, but I would still keep my money on SVL. In this, I am biased because I do have a lot of faith in the management, in the leadership, in the ownership. It's a showing for me. It's a cash call that's what it is yeah and it is more than itself i look at it as um infrastructure yeah more than anything else cash heavy cash rich pays a consistent dividend and yeah even if you don't get competition competition you have to try hard i'm trying to find something yep

you have to try hard I'm sure I'm going to find something especially with the acquisitions they made recently they have to come hard if I'm soaking up the market the scale is going to make a big deal for anybody who wants to go and the regional

move is awesome and that South Africa move looks good to me that broadcast move the broadcast they have spoken about it's not the broadcast yeah and they have they're spoken about it earlier so you know so we're not they're spoken about the broadcasting outside of jamaica and then here we go with them push uh definitely something on the south africa so looking good for ssvl not necessarily no now now but we've been speaking about it you know

I think we are in the season we've been speaking about it as not necessarily as a longer term play we have yeah

very much a penchant in my view get that cash it's a sort of thing you'd want to hold for a long time

and have a lot of yeah so we'll see what happens with it I mean if the price dip heavily I might actually look on it as for a long time and have a lot of it. We'll see what happens with it. I mean, if the price dip heavily, I might actually look on it as an option. We'll see what happens with the competition and how they come out of the reworking

of the market around Corona. I have a lot of faith in it. Next up, we have, speaking of infrastructure, the big infrastructure company, TransJamaica. Yes. Yes. What

can be said about this that has not yet been said? I'd like to say in terms of I've not heard about IPO guys yet. No, yeah. Oh, yes. It has how long has it been since it IPO'd? Was it early

End of February? Or was it listed? I think it's March March I think it's the end of March I want things to My brain wanted the corona was here no before oh yeah yeah because they were they were the big they were the big thing in the market before

corona yeah no no no about the actual listing date i think yeah the listing was post-corona yeah so like i think the listing itself was after corona oh yeah yes yes yes because there was a postpone on actual listing yeah march 24th march 23th close off and everything but i think it actually list i think it's much you took a lot of this yeah yeah yeah came out the allotment of shares came was posted on the 12th of march it was listed on march 23. okay wow so listed on march 23 or 20 it can't be the 23. it must be the 24th i know i'm looking at the thing there what at least it at least the first day is 23rd they didn't trade on that day market and see the 23rd. The first day, 23rd, everyone said they didn't trade on that day because you know how that go.

Yeah. Oh, everything was canceled or something like that. Everybody went too hard, you know? Too high, too low. So, no go. You sure? I think it's a Tuesday at least, man. Regardless, it hasn't passed the $1.41.

Yeah, it hasn't passed the $1.41 that it hasn't passed the $1.41 that it listed at. But granted, 24th of March to the middle of July. What can you say about that? Yeah, four months and the sort of thing that it is is not the sort

of thing that was expected to ever maybe grow as heavily or as fast. Probably listed right near its value, right? Very close to its value. A lot of the hosts had it coming out 20% above its value. They expected 20% to me. I mean, you guys have all seen the expectations around it.

But it has yet to even get back to 141. It's close to it now, right? It closed last week. I don't think that's close yet. It has traded there. Yeah, it has traded there early on. Even recently. I'm leaving a step. But it did, yes.

The high for last week, Friday, was 141. I don't know if anybody has actually yeah i don't think it has ever traded above that yeah so 141 remains the um ipo price and and the 52 week high so far it hasn't been 52 weeks yet and then the reality of it is that they make a whole for the money from cargo which is business stuff and the people from clarendon and saint catherine driving into kingston right yeah that has been impacted from about march to though yep

yeah both both ends yeah so not just not just the the retail stuff but also the cargo and the cargo is very important because that is where the majority of the money is i believe that's where the consistent money definitely is um trans jamaica is trans jamaica if if you bought it everybody who told me when when was IPO and everybody I asked told me that they were buying it for the long term so we're looking on a for the long term sort of thing

if you are saying that to me then or you are thinking that then 3 months, 4 months is not necessarily long term change your situation and that's fine but from March, from the end of march to the middle of july july is not long term that's not even half a year yet so that's not long term yet right um and you should i don't know what impression you'd have gotten when you're asking your advisor

about it but it is very clear that this is a low and slow stock this is something that you make your money off of the dividend as far as they're expecting and that dividend will look very good was expected or is expected to look very good in like year four or year five yeah you know you might see you might see strongly yielded in year four or year five if you're comparing it to ipo price and if you're thinking along those lines being able to buy it it below IPO price is also a blessing. Yeah. On the shorter term side of things, I mean, I suspect they'll report a loss and it will

drop back down closer to a dollar. Yeah. But this is quite the stock. But it's good to have this sort of stock on the exchange, I think. Yeah. You have something big, something for the slow and slow, and you have something for the smaller people. Next up, we have Toki, Tree of Knowledge,

the only stock that I don't know on the exchange. Any of you guys know this? Any of you guys on 816 know Tree of Knowledge International Corporation? Is that the weed thingy? Yeah, I think it's a weed company or cannabis company. We research cannabis. Really? Yeah, and I think I want to be serious.

From Canada? Yeah, from Canada. Yeah, it's from Canada. As far as I know, they're a school thing. School? I didn't know that. They're what? No, not a school. Why do I think of them as a school? No, they're a school thing. School? I didn't know that. You're a what? No, not a school.

Why do I think of them as a school? No, they are a week. Knowledge. Yeah, they are a week. Knowledge. No, I don't know. I thought I looked them up and they're like an online learning sort of thing. Why do I think that they're that and not a science-based health and wellness solution company?

Yeah, it's a week company. That's what they describe themselves as. Yeah. Canada, Jamaica, weed. Has there been any activity? Oh, no. No? Has there been any?

We don't know anything. Jason, you know what I'm going to tell us when they're listing it. We don't know anything about it. Yeah, we'll come and see you today. It just popped up one day. Yeah, it just did it. Right? Literally just popped up one day day and then after somebody tweeted about

it on twitter that guy on twitter um then put out a notice saying that monday it was listed which makes me wonder then what what happened to like maybe my memory is old but jc have some rules you know they might be old but there are rules there around minimum trading amount your stock has to trade a certain amount or it is it goes up for the delisting yeah it makes sense i mean don't make sense ever i had to succeed on the exchange uh what about you guys why are you right again when last you buy the when i say buy any of that um Kibba Hammers Kibba Hammers Kibba Hammers million dollar unit right

me make a hundred million dollar when has that true wow yeah so true of knowledge is the only company

I don't know well enough obviously I didn't even know what they did for for money so wow yeah um they haven't put out i haven't seen any financials from them i don't

know what their date is uh yeah i can't i can't this is one of those things where somebody asks you about how how advanced the jc is and you hope that they don't ask you about this stock because it's kind of embarrassing. It's not much of a weak company. They do CBD stuff. They do clinics, they do whatever and we haven't

heard much from them. They do trade on other exchanges though. They are across the company. They trade on other exchanges though they are traded so they are a cross-stit company they trade on the canadian national stock exchange um and yeah it's it's it's one of those companies that seemed good right before corona who knows they do have medical so i can't even speak to them, so I'll skip them. I'm not going to even waste time because I don't know them. T-Tech is the next one. T-Tech is up. And we can almost wrap very quickly, guys.

I know you guys have waited a long time, and I'm pushing for this longer episode because, I mean, we have four stocks left. Other than T-Tech, we have four stocks left, so we might as well wrap. So T-Tech is the next one. What do you guys feel about T-Tech? I haven't really looked into them

but I brought up their statements over here and their last set of numbers look pretty decent in and of themselves. But as I said, I don't really know what they do. As well, I see here that they do what is it said? Technology service providing and consulting is what the note one says. Yes, think of them as IT solutions.

Basically, a step in IT department. That's really it. So their company is essentially an IT department. It's like a consultant. An IT department. It can buy. So you don't have to set up on its own. I know that Grace is one of their customers because they used to be

one of their they came from Grace I mean who knows the COVID might help them I thought they'd be trying to expand more but I haven't really seen much of that it's a different opportunity for them I thought they'd be trying to expand more, but I haven't really seen much of them. Yeah, let's see.

Yeah, I don't really see a lot. It's a different opportunity for them. Maybe it doesn't happen. I haven't found them to be terribly hungry. Yeah, I mean, I know they're trying early on. They listed and they're trying. They went through a little bit of a rocky period. early out they listed and they're trying they went to a little bit of a rocky period um

no no obviously they're they're doing a little bit better as you say the last quarter 4.1 million in profit versus 758 thousand jamaican in profit the year before but we are not seeing a lot of anything else out of them and who knows it's about how they'll handle COVID really. I would have thought that you know what I would love to have seen T-Tech coming with a or and we might still see you might see them coming with a AGM solution that would be nice if they provide an AGM solution. Yeah so obviously there's a legal aspect of that to be handled. But once that is handled, it would be good if you see them. I'm throwing out this free idea.

Simple AGM solution include the ability for proxy voting or voting electronically. So you verify people against the stock database, the company's held database, which they would understand since they're under GK. And you verify that this person is an actual shareholder and they vote online. There's an entire system. I'm sure they can just go out and buy the software and rebrand it or they can write it in-house. Their CEO, Chris Record, is quite their entrepreneur. So I'm sure he would probably has these plans already.

Who knows? I hope so so but as it is now it is to be seen how COVID will will affect them um it might help who was that I said that was it you know or Sean yeah I had said it I was saying there may be some software solutions I don't know as I said I'm not very familiar with them so I don't know what kind of services or what kind of IT services they offer but with a lot of these businesses being forced to implement flexi work, work from home, remote

work, strategies you may have a space where you have some need for T-tech to come in and provide some software solutions a lot more and if they i deliberately spoke at them as a as an it department because if you're if i'm billing you company x for x amount of hours of support and no all of a sudden everybody's working from

home so we actually have to provide more help desk support more server side support you know you used to work on this server and it was fine because everybody's in the office now everybody's dialing in so you have to go upgrade everything and we are the ones have to go go in and do it there might actually be an opportunity for them to earn more very much an it department uh yeah yeah yeah as somebody who who spent many years working in it somebody has experienced with them who has worked, has experience with them. Oh, you have experience with them directly? Oh, wow.

So they are who you call when something is wrong at your desk. Yeah. So I would assume that if you're definitely working from home, anything go wrong, you call in your T-tech. So we might see these guys actually banking right

yeah and they and they they have said it themselves t-tech was kept very busy helping our customers implement the technologies needed for their staff to operate remotely i don't need to see nothing else i don't need to see nothing else are you guys see why you have a person from every company on the market? Indeed. You know, I'm going to hear about this until you start hearing about it, you know. And then it's going to be, oh, this one looks good, but I seem to have missed the boat. And it's currently at 494 with a PE ratio of 16 times. That is not bad if they have a... A strong set of numbers coming forward, yeah.

Mm-hmm. Wow, look at that. Dreams at the end. And the call to end of June, so we're waiting on a little report, right? Mm-hmm. And the report will come out mid-August. So this is actually a nice one to... Watch.

To look at again, yeah. I don't want to watch. I watch my investments, but that's nice. Next up, we have Victoria Mutual Investments. V-Mill. Danai, we don't talk about V-Mill on this show. Big up, Diane. Who's we don't talk about?

Big up, Diane876, who asked one question. An episode that you weren't on, right? I just done the calls. He asked, his question was, why don't danai why don't you guys ever talk about um vmail and i i say i say you danai well danai knows what i say well i mentioned him so i used to work for a subsidiary victor michelle with management exactly so and we have mentioned him before i including that last episode we'll pick up sir resworth

birkinson is his name um and we spoke about what we felt about you or how do our guests feel let's not ring start how do our guests feel some new voices uh i have a longer term outlook on the female, partially because my dad brought it to my attention. I got him into investing. And so he, yeah, I mean, he saw the financial changes I was making and I was like, yo, what's popping? And I'm like, well, I started doing this thing. And he told me not just in the investing itself, but he told let me learn some other things about money so well let's go on anyway so we were talking about it he started talking to some of his friends people he works with somebody had brought victoria mutual to his attention just before the big run earlier in the year

um so we he actually got in on that run part way up and then yeah so we were looking into it and uh he like i said he's more of a longer term person so we are looking on some of the broad strokes of the business and management etc and we really had a good outlook on where we think they're gonna go i like i like that you and your father did that which industry your father working finance also no my father actually works uh you don't have to say where in work just just the industry is that is if i said the industry If I say the industry, it's a good... Yeah, yeah.

So Sean's father runs... Sean, tell me if he actually works at... No, he doesn't. Okay. Yeah, I can't take all of the impression. I understand. All right. But that's good that you're helping your father.

I like that generational... that boy that's generational wealth double up, he buy you a drink with the money? naturally what? naturally? should I turn it up in my opinion? no man I'm a pot spoon man I like that

so you looked at it he benefited from the rise but we know that based on the latest results, they're not looking that good, meaning the latest results have them hogging up a $36.9 million loss. Yeah, that is true. There is that.

Why is that? I know I saw the increased interest expense, which caused them to have net interest income pretty much flat in my view. 79.8 this year versus 75.2 last year so i mean a small rise but i'd call it flat female now is bigger with the barbadian operation and everything but we've seen that now you sound like you know this one back to front you don't got it

not sure but the loss on investment activities that's the real kick up that's where it came from and the associate the share of associate loss also the associate which they didn't have before

because the recent took on associate which was the thing the company I believe the Kerryland yes they took on associate

Kerryland I'm not sure we were all wondering where Carolyn would lie, if it's profitable or not. I guess this is the answer. That was a weird business to me for Jamaica, the way how it was

described. What do you think it is? What it was described as was peer-to-peer lending. And the way how it was described as was peer-to-peer lending so and the way it was described as being integrated here would be that well based on what i was looking at was so you would want to take a loan from vmail but vmail would basically i would basically a separate party, would volunteer my money to V-Mail to loan you through Carrilyn. That was how it read to me.

Which I thought that was weird in terms of where Jamaica's space is right now with people trusting people like that. And the whole scamming thing, etc. So I don't know if people mentally are willing to accept.

I don't think there's anything wrong with the business in and of itself. I just think the way how people might perceive it is a bit, it was, it was, it stood out to me. Like I was like, I don't know if everybody might treat this as something simple. So peer-to-peer lending where it usually works is just like the online platform.

It's there you go. I want to lend money versus sitting there. So how I would see it working if I approach Vmail for a loan I'll just Vmail would have a pool of other people's money in my opinion and they'll be there will be this the in-between basically for that person so you'll be going to Vmail for a loan but carry lend is the backup of that loan that's where the money is coming from yeah I don't think you feel like Randy want a loan so then I have to Yeah, I don't think it would be like Randy want a loan, so then I have to

put up a dollar. I think they would be like money collecting. But still, the point, the idea of volunteering the money, I think that's going to take a second to get used to. I think that's why it's a Caribbean push because it's not necessarily a Jamaican company to start. That was just how it would be integrated

in Jamaica. That part of it was what stood out to me. Like I said, I don't have a problem with the business in and of itself of carolyn where do you hear that exactly that will be integrated like in that way uh i was reading something earlier jeez where is it my laptop did crash and close all the articles then i was reading something earlier on it and it came up but i do think it's that way is that not it i think what you just said is exactly at work if i want a hundred dollars to borrow then i have to put it up then i don't put up no i'm meaning that i don't think that when you approach vmail to say hey i want a hundred dollars at that point then i would take a hundred dollars and submit i think it's more like than i would say

where people would be wanting to lend money and they would be so you would volunteer the money and then they would then distribute it would volunteer the money and then they would then distribute it from a pool of money that they have is what and that pool being your yeah so that pool would would just be other people's money it wouldn't be females money any or not any at all but you would i don't think that it's like randy needs a three million dollar loan to go buy a car so at that point then I deposit $3 million into carrelin. That's not how it came across to me. How it came across was more like what I was saying. There's a pool so I would want to lend money to people. I would see this

as an option and I would want to partake in it and lend money similar to Sprint Financial. You'd want to lend that money based on the percentage or however they choose to integrate it and I don't know I don't know how it works but you choose to lend the money right so I would want to lend the money for whatever reason and somebody else would

want to borrow the money and Karyland would facilitate that easy fix at the end of the day it comes down to Karyland being a middle man facilitate that. Yeah. Easy fix. I mean, yeah. Yeah. At the end of the day, it comes down to Kylen being a middleman. Yeah. It's just how,

how exactly they are the middleman, I don't know. And the perception, as I said, was something for me that I don't know how it's going to come across

for the Jamaican side of it with the female integration, if that is the way how it was supposed to be integrated. I'm going to look for the article and try sending you guys though. All right. I mean, I'm there and i like the idea of carolyn but it can work in barbados and i mean

female own it enough so definitely you can work in brabant as i was still eating off it in jamaica uh yeah i can't see i think it will work a lot better if we have uh i won't say those letters altogether, but if we have some sort of nationalized ID system, I think it might work a lot better because then you can track people wherever they are and whatever they do. But I like V-Mill. I mean, I don't like the hit of the techno, but they are an investment company. I expect the e-sales to hit them too. Yeah.

Yeah, e-sales hit them too. So there's more losses coming. I wouldn't be surprised if there are more losses coming. And those losses might provide an opportunity for you to buy a stock that is generally, you can't say fairly priced now, but with the opportunities that it has. This is another, in a year or two,

you'll be very happy you a year or two you'll be very happy you had it and you'll be very happy happy after talking to your licensed financial advisor which we are not uh wigton is our next one the big big big big dog how people remember wigton remember when wigton was trans jama? Yep. It was huge and everybody went into it. And we're looking at Wigtown now. When did this list? 2019 or 2018? 2019, I think.

Yeah. 2019. Yeah, before work and travel. So we're coming down to almost a year. almost we're coming down to almost a year yeah we're coming down to almost a year since we can listed and I mean you up you'd be up was this that's not 28% it's at 78 cents right now which would me which would mean that you are up on IPO 56%, right? And this thing has gone as high as 100% of its IPO price. At least to that 50 cents, it's not that bad.

I mean, Wigton, a year on, I think it has shown, it has proven what it came to prove in terms of it being an investment for people yeah yeah that's and a lot of people owned it and a lot of jamaicans regular people who never buy stocks yet to them very first stop i am happy i know the eight seven six guys the man in bank half a week ton boy naturally yeah yeah you guys didn't remember that when you that one episode 28 of earning Caesar read him talk about the money that they've made well not the money they've made but how they made it I know we can came in how do you guys feel about we I was saying you could go ahead. I wasn't even talking about it.

I only use Wigtown. You don't know. Alright. Well, Sean, you were saying something then? I was saying, I think through the coronavirus, Wigtown should be fine. I think through the coronavirus, Wigton should be fine. They released their statement saying they only sell to JPS and they use their fixed pricing contracts. So their costs would come from maintenance issues.

I remember them saying that. So it's like they were saying the suppliers are overseas. So with the virus, there's a lot of shipping that's not happening. So it may take longer for them to get the parts to maintain the turbines. But they say revenue-wise,

they shouldn't be that affected unless it's the maintenance. So it may be a turbine not turning as much hole because it needs to be maintained. There was a variance of wind speed, but that's something out of our control. Yeah, variance of wind speed I can't really control. But I don't...

Sorry, you guys paid attention to the wind speed? Yeah. It's actually the reason why there was a significant drop in the past. They noted it, so it became important. Yeah, man, it is they made a statement of it so i need to make sure that it's true yeah i'm just laughing then i would just mention that the wind speed uh not sure it was after the last the second to last result so they said that it had dropped so you guys are right i just impressed that you guys have gone so wait what do you say there was a drop in wind speed how do you know that uh yeah the old one the last time they mentioned it in the report in the december report yeah was it december and it was okay

it's not just google average wind speed and see what google tells me. Joke about it so much, you're always like, yo, today is windy with my wigs on. Yeah, like it was a big joke and him kind of being there. But yeah, we were like, we, well, yeah, as I said, sometimes I'll just look up the average wind speed, not because it's not like I'm checking it day in day out trying to say, all right, did it fall? No, nothing wrong with that but yeah so I check it occasionally and say all right how it looking maybe for the month how it did it look last month and see what's what's popping with it you know average read speed for where exactly

average read speed for where exactly do you check uh well I check the country even though I know it's not everywhere yeah that's my problem with that it gives you something about comfort but you're not very sure But I checked the country even though I know it's not everywhere. Yeah, that's my problem with that. It gives you some of our comfort but you're not really sure. Yeah, so that's the thing. I know it's only one part of the country, but the data is for the country. That I found. Better to have something to check than nothing at all, right?

Yeah. what I like is that they said that they had in the last report they said that they had deliberately programmed their maintenance to capitalize on the low wind regime right and luckily during that time period there was no corona so they did a lot of maintenance and now they're saying because of corona they may have some delay in their maintenance because they can't get all the parts but in terms of selling to jps we know it's good now i like to look on it from a i i push

shine the light on it from a point of view that everybody can understand everybody they own my bone electricity jps is one company that is doing much better thanks to corona you sure or we would think who knows yeah maybe not a good amount of business will come from wifi again from people being in office running that ac yeah this this brings us into the same kind of ballpark as the step robs and yeah because yes everybody's at home now we We have one light, we have one game. Remember that the rate they charge residential is different from commercial. Indeed.

Remember that commercial is still a whole heap of stuff. So you're very residential. It's too light for you. No, because people keep saying that everybody there has one light but still put it into context. You know what I mean? Yeah, the residential rate is coming up.

The thing is, you have to know if the production from how much energy is being charged to the residential market. Is it the same that we're getting from the commercial market? it is it is it the same that was getting from the commercial market right i'm at home am i spending more am i costing my company more than i'm costing myself i was at home yeah what's that clear i'm working well how we make it clear is how we do the research i mean that's easy to know from i'm going from memory from the last i did the research that jps was about 48 of the revenue comes from um residential people right which would put 50 so roughly half but put 52 on the commercial now there's a fall off in commercial and jps is under pressure however i then like to use regular things that anybody can look at to to estimate these things blackouts have

started a lot more i see people talking about like gone a whole leap more um over the last few months while everybody's home and the residential pull has been higher we've seen the people arguing about their light bills and jps you know down to the ministers we see arguing about their um light bill and jps which i won't go into where that light bill is right what i will go into is is the um the financials probably seeing a boost from more more people buying in but also remember that we don't necessarily have to worry about um jps's endpoint to the consumer because what we care about is the connection between Wigton

and JPS and I suspect on that side that Wigton has still been able to sell everything that they've been able to produce to JPS I believe so, I could be wrong, right? I believe also that at the end

of the quarter, the us dollar to jamaica dollar rate what was it was it pretty nice was it over 140. march uh march 31st was is march yes it's march march march march i think yeah it wasn't like 145 in march i think it was like 130 it was like one thing all right so my my thing there my issue on that with me the dollar movement so the way you GPS charges built by Wigdon is or cool I send an invoice I got it about it today and I think an invoice then I need paid you get me so the difference in the rate. Because I'm building me a US basically. The day I sent you the invoice versus the day you pay.

The movement between those two days. I don't know what did the invoice interior. So it wouldn't be like over the quarter, them all the money for the whole quarter. You get me? I see $130 for board. It's like a receivable movement. So it's not that, yo,

it's not necessarily at the start of the quarter how much the rate is the exchange rate versus the end of the quarter how much exchange rate is the real difference is oh i sent you the invoice today and you owe me for 10 days did the rate move up or down in those 10 days get me hmm why does that matter though because i sent you the invoice in the us dollars yeah so you owe me you owe me a hundred us dollars today right and it's 134 today in 10 days time it's 140. so you're paying me you pay me 100 but when i change it i get more money basically from which From which standpoint though? Who is invoicing?

Is Wigtown invoicing JPS? Wigtown invoicing JPS, yeah. So JPS pays Wigtown in US dollars. So it's a movement out of that line item of a receivable. It's a movement out of value. The FX value of that line item. It's not necessarily that Wigtown has

this bag of money at the start of the quarter and then end of the quarter it's worth more it's not necessarily like that it's because receivables is in US and the value of the receivable changes whenever so when it's added to yeah but value where because the difference the rate difference only matters to me because i'm

hearing my report in jamaica yeah yeah that's why it matters yeah that's exactly yeah but okay sorry it's just to get the understanding that it does it there's no difference to jps either the bill is a hundred thousand us and JPS is 100,000 US. Yeah. It's just that when they're reporting it now, oh, I understand what Danai is saying. You're saying that if they paid and the rate is different on the date that they paid versus the date that you billed them,

then that's where you get the gain. That's where FX gain comes from. Yeah. And also realistically, you get the gain in the market because all analysts mention and they sent this us dollar billing thing and it made them feel better about it plus i mean the stock is up 50 percent in a year that is a win and and it has paid what two dividends now yeah yeah and this is strong uh noted in this is that they have including income is 115 million

uh noted in this is that they have including income is 115 million which is made up of wait there are two extraordinary amounts from that totally 57 million i'm reading from the actual mdna here 29 million which is from the settlement of an insurance claim and the reversal of a provision for carbon credit payable of 28 million. Those won't be repeatable in the same quarter next year, however, they will fill in for the rest of the year. And I think I am banking on there being some noted pull from residential areas that Wigtown helps JPS with, and I'm banking on that being good enough for them to report another strong quarter.

I believe they had a payment in the last year, didn't they? Which was a question in some circles, I think. Who? They had a payment. It's a stated payment, a bond payment. I think they had a date. Oh, okay, yeah. They wanted a debt repayment.

Yeah, I think it was the end of 2019. It's sort of working with my mind but but as it is now the fate of wigton in my view hinges on whether or not they had a good quarter to jps which i'm suspecting that they did and because they did that they probably are going to have an increase in price they might actually break a dollar again they They're always fluctuating. This is a nice, nice, nice, nice fluctuating stock. Good volumes on it. And if you're willing to wait a few months,

you can almost always come out at a nice profit. It will swing. I mean, it's down to 70 cents now. There was a point a few months ago, it was down to 50 cents, I believe. Yeah, in the peak of COVID-19. But that was just like a one-time few months ago it was down to 50 cents i believe yeah but that was just like a one-time thing it's so long to 52. uh but then it stayed it stayed high 50s yeah so but it does this swing where if you see to the 50s there was no question when i saw it

in the 50s that it was going to go right back up to the 70s and so said so done it went back up to the 70s in may when i believe the dividend was announced that month it came back down and settled now in the 70 region i think news will push it back up to the dollar again and if they have another dividend they'll push it even further um wicton is what I'd call an obviously successful large listing, something that I hope that Transamerica can be in a year You had mentioned something earlier about the blackouts do you think that the blackouts are indicative

of that work of the capacity being like more than we would expect meaning you think that because they're blackouts I mean that so much is being used that it might be enough to offset the decrease in the corporate assuming that Wigton was needed for that as far as I know the man and take everything yeah I was thinking that even

if consumption grows, they're still the same amount of JPEG. I don't know about people having storage capacity. Well, no, I don't know if they're having storage capacity either. But I look on the... I'm sure they might. I don't know how it works. I won't try to assume that. But I will tell you that as far as I know, they.... I don't know how it works. I won't try to assume that.

But I will tell you that as far as I know, everything they make themselves. Everything they make with JPS Tech and JPS wants to because everything that they take from Wigton means that they don't have to buy any oil for it. They don't have to import anything for it. So it is a better deal for them to get electricity from Wigton. And I know I'm using light things to judge here, but you can look on the fact that everybody's home

and a lot of the people, especially in that side of the island, have had blackouts. So I'm assuming that there is heavier retail consumption in terms of a longer time and as i won't get into whether or not that's better for jps but i am suspecting that it's better for wood time yeah but the good thing is at the end of the day it doesn't matter if jps is doing more on corporate or not because anything we don't make they buy so they have that protection yeah it it is it is a great a great great deal that weakton has with them that that thing that was said to be bad them having one customer is actually a strength because the shock is

selling you can really only sell to one person anyway legally it can only sell to one person can really only sell to one person anyway. Legally, it can only sell to one person. And so we're almost at the end. Thank you guys for sticking with us throughout this whole thing. I know this one was long. We're going to Wisinco, which we've touched before. Before we move forward. So Wisinco.

Regarding that carry lending that I was mentioning with Vimeo, I just did some checks. I was slightly wrong. So they are implementing a lending platform but in jamaica it won't be peer-to-peer so they're peer-to-peer otherwise but in jamaica they'll use the same platform but it will be vmbs and vmail to the customers as opposed to peer-to-peer through them which is good okay that's that's that's good you sound like you read something you can

share whatever that thing is the annual report i sent it to you a while ago okay perfect so for anybody listening can know to look at vmails last annual report uh and you can also look at jps's annual report to see that um peak demand has increased at least in 2019 peak electricity demand increased and I suspect that peak demand would increase even more I was incorrect heavily just now let me correct myself thank you for that let me use the opportunity to correct myself my memory is definitely off so in terms of sales JPS has 34 percent and again i'm just going off their annual report jps last year had 34 coming from residential commercial and industrial small commercial industrial was 43 that's where the 43 came from in my head and large commercial was 21 and two percent being other i

don't know what other is so can can residential buff JPS's numbers? Nah, they can't make it up back off for them. And if you go deep in JPS's info, you'll see where they speak to the fact that those large players, which you guys mentioned earlier, like Separat coming off and Red Stripe coming off, Wisinco coming off the grid,

that stuff is, I mean, you need like a whole scheme to equal or half a scheme to equal Wisinco. Wisinco's daily spend, you know that sort of thing. So the residential really can't make it up. But I do believe that Wigton hits heavily in an area that they can't afford to stop using so we will see that's what that hinge is on speak to your advisor about this so now we're on the second to last one which is wisinko i know the guests know this one back to front we've mentioned it so much so we're gonna skip it but we should mention it since we're on it for itself um we sink oh water boom which we said already right workplace hotels parties schools homes home still keeping some workplace still sleeping party dead school dead

so it's just it's just workplace, home, and some school. Wisinko might see a dip in time, but as they are now, they are okay, fairly-ish valid. But I wouldn't be surprised if they show a drop over the next two quarters. But they'll still be around for a long time. And who knows? They could surprise with something else. But I think Wisinko needs the place to be opened up for them to surprise with anything other than maybe acquisitions.

And the last one. Thank you guys so much for being here for the last one. X-Fund. Sajiko Real Estate X-Fund. Who that? Sean? Sean, you want to speak on it? I'm not too versed

in ex-fun honestly and I just know when you said it a while ago it reminded me of something somebody that I know

said about it they don't really like it yeah why don't they like it they don't like real estate generally for the stock exchange that's just how

they honestly I really couldn't tell you who is they I was trying to get to it and i was like what and pretty much they were saying what they what it sounded like to me was they didn't think real estate could provide the type of return that they wanted in their timelines but i wasn't able to have a long conversation about it who was that i wanted to i don't let me just say yeah i don't think i don't think you guys know them if you guys know them at jenny maybe sometimes all right so

yeah but it's a good point it's real estate is not necessarily for everybody and real estate companies they're not to be for everybody but x4 yeah they're like a dynamic real estate fund so they're more than just regular real estate they're they're they're hotels now then i know them better than i do okay yeah they're they're hotels they're player how do they hold the player they hold the player through jam sif so jam sif is a company that is owned by a subject for a group for the jamaica group and x1 and they own all 20 000 subject pressure um fire shares 20 million million yeah between 10 and 12 hours per share but i don't think that they recognize i'd recognize playa as an associate no uh yes so share profit so they're no longer trading by the other shares the sheriff of the associate sheriff of last most more often than not yeah can't tell us i see a report from them

yeah it's been saying something just now sean I was saying something just now Sean. I was saying the trading price is an issue because right now they're at like $3.00. They're at like what? $3.00. $3.00 something. I'm talking about $3.00 right now. Oh, you're talking about Playa shares? Yeah.

Oh yeah, they have dropped in significant value heavily heavily heavily heavily heavily heavily there was a time when if you remember x1 you started out recognizing player on the value of the shares and then on the movement yeah but that movement really changed that entire thing to the that they went through an entire thing to change what they recognize um they said they sent some more directors down there at that point they recognized the control of the board which would then graduate the stake the type of state they have so they'll consider it an acquisition so x phone can now consider as, consider prior to be a associate and- Based on the level of control,

which is one of the ways that you can exert control, not just through the 20%. Not through the whole ownership alone. Yeah. So they own less than 20% actually. Yes. Because they hold a significant board stake, then they would rank it to an x level so if

associates take which is the next step yeah which means that if you're looking on x1 you have to look on player to see how well yeah exactly in trouble for a while they would be so they were in a growth phase where they all needed to do they're investing heavily into new businesses which were the board they were growing getting the part getting up getting over the financing and all that but kovid put a nail in that in that one the two most interesting things i've seen all right well one of them is player so you look on the financials and other one is the fact that i believe name is player so you look on the financials and other one is the fact that I believe they also own the jewel chain no yes X fund on the gym yeah they're on their sale on a board and they as well so they haven't stated who would have sold it to been spoiled and and so there might be some something good there in terms of recognizing that sale depending

on the price it was sold at. And yeah, it's been a rough, rough run for them for years now, right? Years. Literally years. I remember somebody was defending it very heavily to me. years literally years i remember somebody was defending it very heavily to me i have quite a bit of people defending it very heavily i went through it man i went on twitter i went through it in person because you know i work with i work in university so yeah i was all those conversations a guy he came to me and he told me that x phone is a new thing I heard me talking about socks so he came to me as for X one with the well man and I pointed out hey if we looked at files numbers and those and it was a share price movement it's not looking good for him and his response was to go and find the person

that told him about player and why it's a good thing for that person to come to me and argue with me and then the person never sounds to have any data it's funny because that person had actually he had actual reasons why he thought it was i mean he could explain and say none of the right or there was a bit of checking okay cool but it was more than what the other person came with but check to the share price check the company itself because they're a listed company you can see the share price moment you can see what the numbers look like and it wasn't it was obvious to us and it didn't seem to be obvious to the rest of the people so people bought into x1 heavily and took a loss yeah rough and and and I mean

pretty much the same story for me minus the gopher somebody who will know about it to explain but I mean I remember when you had that conversation I was a part of it and we went through it didn't we so I was

thinking about when that whole thing started oh boy I want to say it was early 2019 but then I went and I checked So I was thinking about when that whole thing started. Oh, boy. I think I want to say it was early 2019, but then I went and I checked, and it's either early 2018 or mid-like 2017 or something crazy like that. And it's crazy to me for somebody to tell me. I mean, nobody mentions it anymore. It started January 2018 at $14.60 per share. It is now July 2020 at $7.80 per share.

So you're looking on almost half of your portfolio just wiped away. And the things that it's involved in are things that it cannot um fix on its own covet hitting hotels wickedly right people are really traveling into and people not really doing it and it's not just the jamaican hotels you know it's it's in mexico the americans aren't going to mexico nobody's accepting americans other than us and um it it's it's yeah it's a business that's looking on at least another two years before it can rework unless something magical happens you know magical things could happen um i believe maybe ply i think player is making some plays in the cruise the cruise sector

you know a lot of things happening in the cruise the sector in the US market, but that's another conversation for another time. I haven't seen a report from them in a long time either. They've had delayed Q1 financials for a long, long, long, long time. And their Q1 was supposed to be what? Their Q3 2019 is the last thing that I have seen. And that was as at September 2019. So December 2019 should have been the end of their year. Maybe it's just me not seeing it.

I must be it. Because it couldn't be that it's gone for that long. But then again, XFund started this in recent times, started this delay recent times started this delay in numbers until you're really ready but it has been going on for a long, long, long, long time I actually don't know what's going on in the company

and their parent companies have more than reported which is why I'm thinking that I might be incorrect XFund, no, they voted March numbers though I saw March top 10 but i don't know if i saw my asset a marching number because i remember we had spoken with you there i hope yes apologies that's on me so do they have posted their numbers yes we spoke about it man on this yeah we did you're correct you are correct at least i i'm not sure we've spoken about it on

this but i know we we have some meantime what's what's talking that's true that is true now that you say that in a room study but I we do have up to this year so yeah scratch that I just said guys I was crap they have sold up to March 31st and and they are looking at a summary, but I like how the summary looks for this company. So, yeah, a loss of $5 billion. Jeez, $4.4 billion Jamaican dollars in losses. Do I have that right? I do not have that right.

I'm reading the wrong thing. $3.9 billion. That means pretty much the same thing to me i don't have 1 billion 3.9 billion as a loss is the same to me as as 4.4 but wow wow wow they're going through it i don't own any and i'm sorry for anybody who has owned any for the last long, however. But if you're going in now, speak to your licensed investment advisor about going into XFund and whether or not it's right for you. If they're telling you anything other than years, then question them heavily. question them heavily

anybody have anything else they want to say about XFund or are we completely done with it anything to add to that yeah yeah XFund is its own headache but I want to thank the guys from HM6 Invest

for sticking with us through this long multi-hour thing we've been here for a long time and thank you that knife for sticking through it with me also and thank you for everybody who is still listening at this point um and we have wrapped the complete market update so thank you finally definitely for this thanks everybody and i'm not gonna lie we're never gonna do this again yeah i am never going to do that again i i got bored it's been a boring after the first one i was bored it's not because i don't love it it's god you've already looked through them and talked about them i get it right we do this all the time

so i do it again just for the show yeah yeah god imagine you're talking about it and if you do it for oh god anyway people don't hear us complain people i hope you're thankful i hope it helped you and um look out for something else to come for something new big up 876 invest for um being here and and and i'm sure when you guys have some stuff coming i mean you'll show me up and we can tell the people about it no problem yeah but please so sean henel nicholas thank you for being here thanks and thanks everybody for listening this is bernie all right guys We want more. We need more.