http://www.brainspark.com/
Price 0.25-0.40 pence : 08.11.04
Trades over 60,000 Shares are delayed in reporting by 1 Hour.
Daily Execution Price and Volume


Brainspark Plc is an AIM listed company, focusing on investments in best-of-breed Information & Communication Technology (I&CT) primarily in Europe and Israel.
The core competence of the Company is the vision and the understanding of I&CT, and how these technologies will be key for the creation of break-through applications, combined with an international network of excellence among researchers and entrepreneurs.
The advent of broadband will have a major impact on the way businesses operate providing opportunities for new services and contents
We believe it is a timing issue, rather than a 'will be' issue. Brainspark is positioning its portfolio of investments to be ready to take advantage of the broadband opportunities when they become available.

Shares in issue 192m 1p ORDS
Major shareholders
Major Shareholders.................Amount................% Holding
Cross Atlantic Technology Fund.....33,916,050.............17.64
Company Directors
Francesco Gardin...................31,903,278.............16.59
Alberto Agosta......................2,527,273..............1.314
Edward Burman.........................681,818..............0.355

Brainspark have investments in the following companies:


www.geosimcities.com
Geosim Systems has developed proprietary technology for automation of the production process of 3D models as a product derived from satellite and aerial images. This technology will be applied in standard products for the creation of very high resolution 3D models of towns and other locations, and will be accessible via broadband Internet.
Geosims technological partner is Argotek, owned by the FORMULA Group (NASDAQ-FORTY), one of the major Israeli software companies.
Geosim Systems was founded in Israel five years ago as a satellite company of Tiltan System Engineering Ltd (TSE) by a group of technical experts who had been members of the Israeli Air Force.

From November 2003 to January 2004, Brainspark made a further investment in
Geosim Systems Limited (51.75% owned by Brainspark) of
US$50,000. GeoSim is an Israeli company, whose main business purpose is the
creation of 3D models of cities and other areas of special interest. GeoSim's
management believes its state-of-the-art technological tools allow cost and time
saving in data collection and 3D modeling process. GeoSim realised revenues in 2003 of about US$400,000 (#240,000) mostly in the second half of the year and is expecting to make further progress in 2004, particularly in the USA where the
main focus will be on developing Homeland Security applications and in Italy
where the Company is in discussions with local authorities in a number of
historic cities.

www.theusabilitycompany.com
SOLD 320k


www.metapack.com
MetaPack's mission is to make traditional supply chains more responsive to individual customer needs. We provide zero defect fulfilment that attracts, converts and retains valued customers at the lowest cost to serve. We are helping retailers to: extend range availability in smaller stores reduce the cost and improve the service of online fulfilment implement web-based ordering throughout retail offer the widest range of delivery options revolutionise services in shopping centres MetaPack works for companies such as Boots, British Land, GUS (Reality), M&S, Sky and WHSmith.


www.kerb.co.uk
Kerb, winners of various major industry design awards (including a Design Week Award and the Yell Award for best use of e-commerce), and the Future UK Internet "Web Agency of the Year" award, are a Full Service Digital Agency based in Brighton consisting of 20 people, and have built a reputation for producing high quality, funky, cutting edge Internet sites, CD-Roms, and web-based games for clients. These UK clients include: Pepsi, Electronic Arts, Mathmos, Scottish Telecom, EMI, the Mean Fiddler, Elida Faberge, Flextech and Petspark.com (one of Brainsparks incubated companies). Kerb also have clients in Switzerland, Japan, and Hong Kong.


www.fortune-cookie.com
Fortune Cookie creates award-winning online solutions. From consultation to actual implementation of the chosen route, turning difficult technical propositions into simple and dynamic realities. Fortune Cookie is a global brand with global coverage, and an integral partner of Brainspark and the partner companies.
On 4 December 2003, the Company increased its percentage ownership in
Fortune Cookie (a company which offers strategic thinking, design and build
services in web and wireless technologies) from 25% to 29.44% by capitalising
#48,176.39. This transaction puts Fortune Cookie in a better financial position
to enter into discussions for potential mergers to enlarge its market share and
to participate in a large innovation project overseas.


www.easyart.com
Easyart.com is the UK's largest online retailer of reproduction prints and limited edition art. It offers over 40, 000 fine art and photographic prints, with more being added every day, plus made-to-order picture framing.


www.traderserve.com
TraderServe is an application service provider targeted at professional traders, offering them a flexible, highly sophisticated, yet easy-to-use, modelling system for financial and futures markets.


www.sanvicentegroup.com
The shareholders of the company are prominent financial institutions, corporations and technology entrepreneurs from throughout North America and Europe. The company is led by a board of directors with extensive experience in the venture capital industry.


www.acsys.it
Advanced Computer Systems (ACS) are involved in the design and production of ground stations for the acquisition of data from remote sensing satellites; analysis and processing of digital images; geographic information systems; virtual reality; management of large amounts of information. It is currently preparing the complete digitalisation system of the radio archives and production for RAI (Italian State Broadcaster).

www.smile-on.com
SOLD 220K


www.impression.it
Impression created in February 2000 by a group of Internet experts operating in the ISP sector (Internet Service Provider) provides high added value quantitative and qualitative analysis of accesses to web-sites and detailed online reporting.


www.ludonet.it
Ludonet, founded in 1995, is a leader in the development and management of online entertainment and virtual community solutions.

In September Interims directors highlighted consolidated NAV position of 3.3m and described this valuation as conservative. Directors are paid in options/warrants at 1.1 - 1.31p/share. Given two investments that carried a book value of 22,000 in these results were sold for over 500k, how much is the remainder worth?

192m shares in issue
Mid-Price...........NAV / Market cap equivalent
0.30p................0.58m
0.40p................0.77m
0.50p................0.96m
0.60p................1.15m
0.70p................1.34m
0.80p................1.54m
0.90p................1.73m
1.00p................1.92m
1.10p................2.11m
1.20p................2.30m
1.30p................2.49m
1.40p................2.69m
1.50p................2.88m
1.60p................3.07m
1.70p................3.26m
1.80p................3.45m
1.90p................3.64m
2.00p................3.84m

Bought 250,000 shares at 0.43 pence + 78,422 shares at 0.43 pence this morning

Have been building my position nicely over the last couple of weeks at this level.

By a Poster called Dusseldorf on ADVFN :

I'm 95% certain something is happening...and its most likely because 1 or all of the following
a) large scale stock accumulation by a new party
b) something to do with Geosimcities - possible floatation
c) The full year results are on target for loss 180,000 (or a profit if further disposals are announced) vs loss 2.9m last time around

Interesting....even though they have been no buys...MMs keeping a lid on the online buy limit and have reduced it further since yesterday.

Can buy 100,000 shares online at 0.45 pence
Can sell 500,000 shares online at a premium on the bid at 0.35 pence.

Source : Comdirect.

Maybe still possible to buy more than 100,000 shares at this price...but one would have to ring their broker up.

The two potential floats are said to be worth around $16 million. He estimates Geosim, an Israeli tech company that can create 3D models of cities and buildings, is worth $8 million to $9 million, and Brainspark has a 52% stake. ACS is involved in aerospace satellite data collection and is a similar size. Brainspark has a 16% stake.

----Looking at roughly a 2 million pounds stake in Geosim and 0.75 million pounds in ACS.

= 2.75 million pounds for Brainspark + current mkp cap of 0.77 million = around 3.50 million = share price of around 1.80-1.85 pence.

A poster called Dusseldorf on ADVFN who has also been buying at these levels and has followed the company for the last few years. He has confirmed that my calculations are right : but has told me to bear the below in mind :

Assuming no further dilution, though would have to recalculate if they issued some more convertible loans.

He has fair target price of 1 pence in the short term.

A further post from Dusseldorf after answering my post on the calculations :

"It's just a question of time, then everybody who was looking will wonder why they didn't buy sub 1p. We can't control the price, though am happy to wait for my profit".

The Shares mention was actually on the week of 22-28 January 2004 :

:



Francesco Gardin is Brainspark's chairman of the board. Born in Rovigo, Italy on 2nd December 1954, he graduated in Theoretical Physics at Padova University in 1979, before undertaking a UK Government research project at Exeter University (UK) from 1980 to 1982. In 1983 he was employed by the Italian National Research Council and from 1984 to 1985 he worked at the European Union Research Centre in Ispra, Italy as Co-ordinator of the Artificial Intelligence Laboratory. Since 1984, he has been Associate Professor at Udine, Milano and Siena University lecturing in Artificial Intelligence, Man-Machine Interaction and related topics. His academic writing include more than 50 individual and joint publications. In 1983, Francesco Gardin founded AISofwt@re to develop and distribute artificial intelligence systems within Italy. Since then he has been responsible for the technical and commercial direction of the Company, as well as acting as Chief Financial Officer for issues of financial management. His close connections with Italys scientific community and leading academic establishments have been the key to the development of the business. He has been a member of various scientific committees and working groups and throughout his career he has been responsible for introducing various leading edge technologies to the commercial world (e.g. in 1995 he organized the first conference on the Internet for the Italian banking community and in 1996 the first Italian conference on e-commerce held at the Italian Stock Exchange), co-designed in 1995 of the 3D Desk, one of the first 3D visualization devices worldwide. Francesco Gardin is now CEO and Chairman of AISoftw@re which went public on NASDAQ Europe in 1999 and Milano Stock Exchange in 2000. The company currently employees 460 people and has revenues for 2001 in excess of 26 millions euros.



Alberto Agosta is Brainspark`s chief executive Officer.He graduated from the University of Milan with a degree in economics in 1969. From 1969 to 1991, he was employed by IBM Italia S.p.A. He served as division manager of IBM Europe from 1974 to 1976. From 1977 to 1991, he held various managerial positions in Italy, such as strategic manager of IBM Semea (IBM Italia) from 1989 to 1991, with responsibility for investments in software companies in the Italian marketplace. After leaving IBM, he held various senior executives positions in several Italian information technology companies. During 1998 and 1999, he acted as a consultant to AISoftw@re in the area of planning and implementation of the acquisition program, becoming Board Member in 1999 and Vice Chairman of the Company on March 2000.



Don Caldwell is Brainspark`s non-executive board member. He is chairman and chief executive officer of Cross Atlantic Capital Partners (XACP), and Senior managing director of both Cross Atlantic Technology Fund (XATF) and The Co-Investment 2000 Fund (CI 2000). Prior to the formation of XACP in March 1999, he was president and chief operating officer of Safeguard Scientifics, Inc. (NYSE: SFE). Additionally, he served as chairman of Safeguard`s Investment Committee and led the formation of both SCP Private Equity Partners (a $265 million late stage venture investment fund) and Pennsylvania Early Stage Partners (a $50 million seed and early stage fund). Prior to joining Safeguard, Don held a number of executive and financial positions, including chief administrative officer of a predecessor company of Cambridge Technology Partners, Inc. (NASDAQ: CATP), a provider of information technology consulting and software development; and partner in the national office of Arthur Young & Co., a predecessor to Ernst & Young, LLP. Don serves on several boards of publicly and privately held companies and civic organizations, including Diamond Technology Partners Inc., Quaker Chemical Corporation, Pennsylvania Academy of the Fine Arts (Chairman), World Affairs Council (Chairman), Philadelphia Orchestra Association, and the Committee for Economic Development. He is a CPA in the State of New York and holds a Bachelor of Science degree from Babson College and an MBA from the Graduate School of Business at Harvard University.



David Meacher is Brainspark's non-executive board member. He has over fifteen years of experience in international investment banking and strategic consultancy. He is a partner of City Capital Corporation Limited, a UK based boutique investment bank which focuses on corporate finance and capital markets for mid-sized UK and continental European corporates. He also acts as a non-executive board member of StockAcademy, one of the investee companies of Infusion, the investment vehicle and 100% subsidiary of AISoftw@re. David began his career at The LEK Partnership, a UK strategic consultancy firm where he acted for a number of FTSE100 UK corporates. He then joined Bankers Trust International where he worked in the areas of mergers and acquisitions and equity capital markets gaining experience in both Western and Eastern Europen markets. He moved to Robert Fleming to focus on European equity capital markets and led numerous offerings covering a range of sectors including technology and telecommunications. In 1999, David led the Initial Public Offering of AIsoftw@re, the parent company of Brainspark. Prior to starting up City Capital, he worked at Schroder Salomon Smith Barney where he was responsible for the telecoms equity capital markets business in Europe. In 2000, this business assisted its clients raise an aggregate of almost US$35 billion. David graduated with an M.A. in Mathematics from Fitzwilliam College, Cambridge University. He was born in Aylesbury, England in 1963 and lives in London.



Edward Burman is Brainspark's non-executive board member. He is a Senior Partner of Ambrosetti, a leading native Italian consulting company, which he joined in March 2000 to run the E-Strategy practice; since April 2003 he is responsible for Ambrosetti services in China. He is a regular keynote speaker (in both English and Italian). He also sits on the board of Ambrosetti Stern Stewart Italia, which offers Stern Stewart services under license in Italy.

Edward lived and worked in Iran for five years, and later in Italy for twenty years. He has worked as a consultant and speaker for European telecommunications companies. As a visiting lecturer, he taught a course on Doing Business in Europe at the Canterbury Business School of the University of Kent, from 1994 to 2000, and now teaches an annual course on E-Business in the Faculty of Economics of the University of Bologna. Recent topics for corporate presentations have included: telecommunication scenarios, marketing mobile services, knowledge management, cross-cultural management, and business scenarios for Internet.

He is the author of eleven books on European historical and cultural issues, and numerous specialized articles. In 2002 he published a study of Internet, regional growth and productivity in Tuscany (Dossier Internet 2002: Net Economy in Toscana, Firenze: Edizioni Polistampa, 2002). His most recent book offers an interpretation of the Internet phenomenon based on a reading of Thomas Kuhns theory of scientific revolutions: it appeared in Italy as Internet nuovo Leviatano: verso un nuovo paradigma di pensiero e di business in September 2002 (Milan, Etas libri), and in the UK/USA as Shift: The Unfolding Internet, Hype, Hope and History in March 2003 (Chichester, John Wiley).

Blatant drop on the bid on a 43,860 sell at 0.30 pence, no delayed sell will be coming, I can say that already. Another positive signal that positive news re : the flotations is coming soon.

Comdirect :

Can buy 100,000 shares at 0.45 pence
Can sell 500,000 shares at 0.30 pence.

Further proof : online buy limit (comdirect) has just been reduced to just 50,000 shares from 100,000 shares even though they have been no buys today.

2 * 50,000 buys have come through at 0.45 pence since....that's all one can buy online. The MMs do not have any stock to sell at this level.

Further :

Blatant shake on the indicative bid - MMs looking for cheap stock before news comes.

Comdirect :

Can buy 50,000 shares at 0.45 pence
Can sell 500,000 shares at 0.35 pence, 0.10 pence premium on the indicative bid.

As I stated an hour ago that no delayed sell will be coming....no delayed sell has come through. The drop manufactured again but the online prices the same.

Comdirect Online Limits closed at :

Can buy 75,000 shares online at 0.45 pence
Can sell 500,000 shares online at 0.31 pence.

Today :

The MMs have manipulated the price at these levels for the last couple of weeks now even though they have no stock to sell at these prices. Today's was a classic on the indicative bid price. Though through their actions they have made themselves too obvious that news on the flotations of ACS and Geosim is just round the corner which should lead to a substantial rise in the share price...atleast 300% or even 500% given the equity value BSP has in them (calculations posted yesterday).

Sue - LOL!

As there was no mention of any floats in the September results, or the October trading statement, I really can't see any chance of you getting any significant news within your usual pump'n'dump timescales...

Hope that helps.

Rgds
dell

dell314 seems unhappy as he can't buy a decent quantity. Or is he stalking me on this thread now as well....

By a fellow holder called Dusseldorf on ADVFN :

The price is being held artificially. I still go with the theory that a large buy order is being filled, and until it is, nobody else will be allowed to buy in quantity.

Time will tell, though I'm still happy on the inside looking out.

----Website has been offline today at regular intervals throughout the day...maybe a hint that news on the flotations of ACS and Geosim are imminent. The news on the floations should be coming anytime now as it is.

PMSL!!

Sue - Are you on medication, or do you just live in a fantasy world??

Which bit of my post 28 don't you understand??

dell314 - 24 Nov'04 - 21:12 - 28 of 30 edit

Sue - LOL!

As there was no mention of any floats in the September results, or the October trading statement, I really can't see any chance of you getting any significant news within your usual pump'n'dump timescales...

Hope that helps.



Funnily enough, I don't think an intermittant website is usually taken as a sign of positive news. Incidentally, if they were updating the site, presumably one would notice that the content would be different when it reappeared. Sorry, if I'm stating the obvious here..

Rgds
dell

Dell do you ever invest

0.30-0.45 pence, up on the bid today. Couple of 100,000 buys have come through at 0.45 pence.

MMs still gunning for shares :

Comdirect.

Can buy 75,000 shares online at 0.43 pence
Can sell 500,000 shares at 0.36 pence.

Another 100,000 buy came through at 0.43 pence after close. 3 * 100,000 buys came through today....not much really but in BSP's case...indicates that activity is picking up and if allowed to folk would buy more.

Double Bottom formed bang on 0.35 pence (mid-price).