The Evil Diaries: “I either write off the lot or make perhaps five or ten times that amount”

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The Evil Diaries: “I either write off the lot or make perhaps five or ten times that amount”

Right now there are approximately 1.09 USD to the Euro. A source whom I respect and trust came on overnight and unequivocally asserted that, by Christmas, that figure will be less than 1.0000. This is an opportunity to make a substantial profit. I add that my source is not given to emotional outbursts. He is an analyst of data of immense experience.


I originally subscribed for Proxama (PROX) at 5p two years ago and thought it rather disappointing as it kept drifting down. Last week it started to ease back up. A seller has been Richard Griffiths whose judgement I certainly respect but which in this case I have decided to override. Richard has completed his selling.

Were it the case that I have a smart phone I imagine I would have a better idea as to what is going on here. But given that it is clear that many people, particularly young people, are dedicated to inspecting their mobile phones the entire time it would be silly to ignore Proxama’s claims to be on the cusp of taking a dominant position in selling this avenue for advertising.

At December 20 the cash stood at £5.5m. When I spoke to chairman David Bailey yesterday, I had the clear impression that it would not be necessary to raise further cash from shareholders. David is one of nature’s enthusiasts and one should therefore be cautious about taking his hook line and sinker. But I am assured that he is honest and I know that he has been successful when developing companies. So I incline to the view that he is very much worth listening to.

Proxama is capitalised at 2p at £20m. Apparently, a company in the USA, Swirl Networks Inc., with which Proxama might be compared is capitalised at £100m. On the other hand it must be accepted that valuations in the USA are often completely mad and that therefore it would be unwise to set much store by this comparison. Besides, this country is very different to the USA as regards its consumers and their way of picking up ideas as to how to spend their money.

As to what the business is, I summarise it as two-pronged. One is payments using one’s mobile and the other is proximity marketing (hence the origination of ‘prox’). Taking the second activity the punter walks past a pub and is told on his mobile screen that Guinness is on special and that, since it is eleven o’clock, a right thinking punter should pop in. I hasten to add that there are many rather subtler and more varied propositions on this basis – as inspection of Proxama’s web site will disclose.

Digital payments means that the punter pays for his/her Guinness on the spot using his/her mobile. Again, I refer you to the Proxama web site. This is a feature/extension of the developing cashless society.

Anyway, Proxama is really confident that it has emerged as a “go to” company and that therefore the commercial success that they have always forecast will now emerge. I bought 2m at 1.8p. I either write off the lot or make perhaps five or ten times that amount.

Finally, I remark that I welcome constructive comment on 020 7835 0868 and/or on the aforementioned matters or anything else which is interesting or, possibly, amusing. However, I stress that I will be brief with time-wasters.

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