TL;DR: vaping, marijuana, Michael Burry, low as fuck IV, hugely under-valued company 🚀🚀🚀
\Disclaimer: I am not a financial advisor. This is not investment advice. All information stated in this post is my own opinion, and some information may be unknowingly inaccurate or outdated. Please do your own due diligence before investing your money. I currently hold a long position on various Altria LEAPs.**
Nicotine products have been in continuous use in North America for thousands of years [1]. Upon the arrival of the Spanish to the New World, tobacco use spread rapidly throughout the globe, becoming hugely popular not only across Europe, but also in far-flung Asia and the Ottoman Empire. The only comparable product to conquer the world so thoroughly is the ubiquitous, similarly addictive, mighty coffee bean.
By the 1900's, smoking had become a huge commercial enterprise. Glitz and glam surrounded the tobacco industry. All of your Grandmother's favorite actors smoked [2]. Many high schools had smoking lounges for the students (of course, your Nana still regularly snuck out behind the bleachers to have a private puff with the quarterback). Nicotine use was a normal and accepted part of life.
We are all, of course, familiar with the rest of the story. Studies came out showing just how damaging cigarette usage was on the human body. Campaigns were begun, laws were enacted, and Big Tobacco became Public Enemy #1 [3]
Fast forward to today. For the past few decades, despite decreasing cigarette volumes, the tobacco industry has remained immensely profitable. Big players in the cigarette industry have been able to compensate for declining cigarette volumes by raising prices. Cash flows from cigarette smoking have never been higher. Yet looking at the stock market performance of the tobacco industry over the past 5 years, you would think that the industry was on life support.
No company has lately fared worse than Altria ($MO). Despite growing income at a 5.9% CAGR since 2017 amid a backdrop of stabilizing declines in cigarette consumption [4], the company's stock remains 45% off its 2017 high. Much of the underperformance can be attributed to investors losing confidence in the company's management after a series of questionable investment decisions, including taking a 35% stake in JUUL, a 45% stake in Chronos (a Canadian marijuana company), and a 10% stake in Anheuser-Busch.
These investments have performed poorly over the past few years. High-profile teen deaths from illicit THC vaping products were widely linked to JUUL usage by our sensationalist media [5], causing Altria to write-down its initial $12B investment in JUUL to a value of only ~$2B today. The bubble in the marijuana stock market popped in 2018, causing a 30% reduction in the value of Altria's Chronos stake. And the rise of the craft beer industry has continued to weigh on the profitability of Anheuser-Busch.
Despite the short-term pitfalls, I will argue that it is reasonable to believe that Altria has positioned itself very well for the future. And with all of these factors weighing down the stock over the past few years, I believe $MO is ripe for a turnaround.
I have a 2023 price target for $MO of $90 which, given the low IV Altria enjoys, implies a 30x (3,000%) return on MO Jan 2023 65c LEAPs.
My thesis relies on four key beliefs:
​

1. The company's core business is under-valued
2. Vaping will see a resurgence as a less-harmful alternative to cigarettes
3. Altria is poised to win big if marijuana is federally legalized
4. Michael Burry's Scion Asset Management is heavily invested in $MO

1) The Company's core business is under-valued
Altria enjoys a stunningly low forward P/E of 8.7 and a stunningly high dividend yield of 8.1% [6]. Various online discounted cash flow analyses of Altria give it an intrinsic value between $62-$72 [7] [8]. These analyses are very conservative in that they only take into account Altria's current business, which is predominantly smokeable tobacco products.
There are also bright spots in Altria's miscellaneous businesses that these DCF models don't account for, such as the fast-growing "on!" line of nicotine pouches, or the likely reinstatement of Anheuser-Busch's dividend after it was paused last year due to Covid.
We'll ignore these bright spots for now and give Altria's core business a conservative price target of $65.
2) Vaping will see a resurgence as a less-harmful alternative to cigarettes
\Please note: I am not a doctor. All health claims made in this post reflect only my own opinions.**
Nicotine has gotten a bad rap in the past 50 years, but on its own there isn't much research I've seen to suggest it's any more dangerous than caffeine. The big problem with nicotine is simply the delivery mechanism. Smoking large amounts of anything is bad for your lungs. Vaping exposes your lungs to far fewer ancillary chemicals in much smaller doses than traditional smoking. For instance, Michael Blaha, M.D., M.P.H., director of clinical research at the Johns Hopkins Ciccarone Center for the Prevention of Heart Disease, says about vaping “there’s almost no doubt that they expose you to fewer toxic chemicals than traditional cigarettes.” [9]
Altria surveyed the landscape in 2017 and determined that acquiring a stake in JUUL was its best way to position itself for the future. Since then, JUUL's name has been dragged through the mud and associated with many teen deaths. However, these deaths were later determined to be caused by unauthorized THC products unlinked to JUUL [10]. JUUL's case for harm reduction in the nicotine space is still intact.
The FTC filed an anti-trust case recently attempting to block Altria's stake in JUUL [11]. This case is due to be heard this spring. The uncertainty around JUUL's future has weighed on $MO, but in my opinion all outcomes of this case are positive:
1) Altria is forced to divest its stake in JUUL
This is not ideal, but as part of the JUUL acquisition, Altria agreed to not compete in the vaping space against JUUL. If Altria is forced to divest, it can capitalize on the recent decline in the quality and brand value of JUUL (just check out juul to see the declining sentiment around the brand) to bring its own high-quality product onto the market.
2) Altria is allowed to keep its stake in JUUL
In this case, Altria can capitalize on JUUL's troubles by acquiring a larger stake in the company at a discount. Altria can then flood JUUL with the cash it needs to help rebuild its quality and brand. This is the ideal case in my opinion, for both JUUL and Altria.
Setting aside JUUL for the moment, Altria has the exclusive rights to distribute in the USA Phillip Morris's FDA-approved IQoS product [12]. This is a "heat not burn" product that is more similar to existing cigarettes than vaping, but still reduces the number of harmful chemicals inhaled. This product is already popular in Europe and Japan, and is just beginning to be marketed in the USA. One major advantage of this product is that it produces no smoke, and so may potentially end up being allowed in restaurants, bars, and offices.
3) Altria is poised to win big if marijuana is federally legalized
Altria is the one company with the regulatory experience and distribution networks necessary to gain substantial market share in the nascent marijuana industry. Altria has been quietly filing patent after patent for THC and CBD vaping devices [13]. In fact, people in the fledgling marijuana industry are so worried about Altria's entry into the market that Senate Majority Leader Chuck Schumer, when speaking about his upcoming federal legalization bill, recently said "I don’t want to see these big tobacco companies coming in and shoving everyone out" [14]. (Note however that, while this position may play well with Senator Schumer's base for now, having a marijuana industry that is run by well-established and responsible companies is ultimately the best outcome for public health, and so it is unlikely that any steps will be taken to bar Altria from competing in the free market of marijuana products).
4) Michael Burry's Scion Asset Management is heavily invested in $MO
Would this really be WallStreetBets if I didn't mention Michael Burry? Burry's fund Scion Asset Management had 5% of its portfolio in $MO as of Q3 2020, making Altria its 13th largest holding [[15](https://dataroma.com/m/holdings.php?m=SAM). For context, this is about half the weight that Michael Burry's fund had in GameStop during the same quarter.
If nothing else, this is a good sanity check on the analysis here.
Summary
In summary, it's likely that the true value of Altria's core business is closer to $65 than the current price of $43. Add on top of that the potential for success in the vaping category, and the potential for growth into the marijuana market, and it is easy to see $MO adding an additional 20-30B in market cap to reach a price of $90 by 2023.
IV for 2023 LEAPs sits at ~20%. MO Jan 2023 65c's are currently priced at $0.77. If Altria reaches $90 by 2023, these options will be worth at least $25. This would represent a >3,100% return.
For this reason, I believe that Altria LEAPs represent a unique opportunity for asymmetric upside. Please let me know your thoughts below, I'd appreciate counter-arguments that highlight any flaws in the reasoning outlined above.

Welcome to Lost in the Sauce, keeping you caught up on political and legal news that often gets buried in distractions and theater… or a global health crisis.
Housekeeping:

• HOW TO SUPPORT: I know we are all facing unprecedented financial hardships right now. If you are in the position to support my work, I have a patreon, venmo, and a paypal set up. No pressure though, I will keep posting these pieces publicly no matter what - paywalls suck.
  
• NOTIFICATIONS: You can signup to receive notifications when these posts are done.
  

Election shenanigans

I put the latest info on Trump's phone call to Raffensperger in this comment.

According to experts, Trump’s conduct has potential criminal exposure:

A federal statute makes it a crime when one “knowingly and willfully … attempts to deprive or defraud the residents of a State of a fair and impartially conducted election process, by … the procurement, casting, or tabulation of ballots that are known by the person to be materially false, fictitious, or fraudulent under the laws of the State in which the election is held.”
A Georgia statute similarly provides that a “person commits the offense of criminal solicitation to commit election fraud in the first degree when, with intent that another person engage in conduct constituting a felony under this article, he or she solicits, requests, commands, importunes, or otherwise attempts to cause the other person to engage in such conduct.”
…The hard part for prosecutors would be proving Trump’s state of mind, because the statutes require proof of knowledge and intent. Prosecutors would have to show that Trump knew that Biden fairly won the election, and Trump was asking for Georgia officials to commit election fraud. And it’s not clear prosecutors could make that case.

At least 12 Republican senators plan to challenge Biden’s Electoral College win on Jan. 6, when Congress is set to officially count the votes. The effort is being led by Sen. Ted Cruz (R-Tex.) and includes Sens. Ron Johnson (R-Wis.), James Lankford (R-Okla.), Steve Daines (R-Mont.), John Kennedy (R-La.), Marsha Blackburn (R-Tenn.), and Mike Braun (R-Ind.), as well as new Senators Cynthia Lummis (R-Wyo.), Roger Marshall (R-Kan.), Bill Hagerty (R-Tenn.), and Tommy Tuberville (R-Ala.). Separately, Sen. Josh Hawley (R-Missouri) is pursuing a similar plan.

"Congress should immediately appoint an Electoral Commission, with full investigatory and fact-finding authority, to conduct an emergency 10-day audit of the election returns in the disputed states. Once completed, individual states would evaluate the Commission’s findings and could convene a special legislative session to certify a change in their vote, if needed," the senators said in a joint statement. “Accordingly, we intend to vote on Jan. 6 to reject the electors from disputed states as not ‘regularly given’ and ‘lawfully certified’ (the statutory requisite), unless and until that emergency 10-day audit is completed."

Their plan is not going to succeed in preventing Biden from taking office, as majorities in both the House and the Senate would need to support a challenge against a state’s electoral votes. For an objection to be made, at least one member of both the House and Senate would need to submit it in writing. Then, the House and Senate separately convene to consider the issue. Debate is limited to two hours for each objection. After debate concludes, the House and Senate vote to uphold the objection and throw out the state’s votes. If the majority of the House AND the majority of the Senate does not uphold the objection, the state’s electoral votes are counted as cast.

• Vice President Mike Pence’s role is simply to preside over the joint session, opening and presenting the certifications from each state. In his absence, the Senate pro-tempore Sen. Chuck Grassley (R-Iowa) will lead the session. At the end of the process, the presiding officer announces who has won the majority of votes for president and vice president.

The most immediate danger from Trump and Cruz’s doomed election gambit is rightwing terrorism and general violence: Trump, in particular, is inciting his supporters to swarm D.C. on Jan. 6. “JANUARY SIXTH, SEE YOU IN DC!” Trump tweeted last week. Four rightwing rallies are scheduled, including one headlined by George Papadopoulos and Roger Stone.
The Proud Boys and other extremists are planning to attend the rallies and may set up an “armed encampment” on the National Mall, according to the Washington Post. On social media platform Parler, the leader of the Proud Boys said that members will be there “incognito” and may “dress in all black” to impersonate leftwing protestors.

Enrique Tarrio: "The ProudBoys will turn out in record numbers on Jan 6th but this time with a twist...We will not be wearing our traditional Black and Yellow. We will be incognito and we will spread across downtown DC in smaller teams."

Rep. Louie Gohmert has more explicitly tried to incite violence, saying the failure of his legal challenge to the election means “you gotta go the streets and be as violent as Antifa and BLM.” (clip)

• At the same time, pro-Trump lawyer Lin Wood suggested that Pence could “face execution by firing squad” for “treason” if he doesn’t go along with the attempt to subvert the election.

Obstructing the transition

Biden’s transition director has accused the Office of Management and Budget of stonewalling the incoming administration’s team. OMB Director Russ Vought is not allowing key staff to meet with the transition team to help prepare the president-elect’s first annual spending plan, a move that could delay major proposals. Vought pushed back on the charges, saying that his agency needs to focus on finalizing the Trump administration’s regulations before the president leaves office.

“OMB leadership’s refusal to fully cooperate impairs our ability to identify opportunities to maximize the relief going out to Americans during the pandemic, and it leaves us in the dark as it relates to Covid-related expenditures and critical gaps,” [Biden transition Exec. Dir. Yohannes] Abraham said.

Earlier last week, Biden himself said Trump officials are not cooperating with his team, singling out the Defense Department for obstructing information on crucial national security issues. “Right now, we just aren’t getting all the information that we need from the outgoing administration in key national security areas. It’s nothing short, in my view, of irresponsibility,” Biden said. The Defense Dept. finally scheduled meetings with the incoming team this week, after not briefing the transition for weeks.

• The timing of the resumption in meetings is notable because it comes after the one year anniversary of the U.S. assassination of Iranian Maj. Gen. Qassem Soleimani on Jan. 3. NATO officials are reportedly worried about the lack of coordination from the Trump administration: "We need the incoming Biden administration to be fully briefed and ready to deal with these very dangerous issues facing NATO's security."

Sabotaging the Biden Administration

U.S. Agency for Global Media CEO Michael Pack is taking steps to keep control of Radio Free Europe and Radio Free Asia during the Biden administration. As chairman of the boards of Radio Free Europe and Asia, Pack and his fellow members have added binding contractual agreements that will make it impossible to remove him or other pro-Trump allies from the board in the next two years.

In other words, although President-elect Joe Biden has already signaled he intends to replace Pack as CEO of the parent agency soon after taking office in January, Pack would maintain a significant degree of control over the networks.

The State Department is likely to designate Cuba as a state sponsor of terrorism “as an 11th hour effort to create hurdles for the incoming Biden administration.” The label, which requires the approval of Secretary of State Mike Pompeo, would undo a major accomplishment of the Obama administration. To take Cuba back off the list, the Biden team would need to conduct a formal review, a process that might take several months.

Such a designation would impose restrictions on US foreign assistance, a ban on defense exports and sales, certain controls over exports and various financial restrictions. It would also result in penalization against any persons and countries engaging in certain trade activities with Cuba.

The Trump administration has been rushing to finalize a myriad of rules before Biden’s inauguration. Since Election Day, the Trump administration has issued about three to four times as many new regulations as it did during other periods of Trump’s presidency. Rules that haven’t been finalized or taken effect can be suspended by an incoming president, which Biden has said he intends to do. By contrast, rules that are finalized can take months, or even years, to undo.

“As a general rule, it takes at least as much process to undo or modify a rule as it does to put the rule in place,” said Jonathan H. Adler, a professor and an administrative law expert at Case Western Reserve University School of Law. “The Trump administration is magnifying that challenge for the Biden administration.”

Trump loyalists are urging the president to stymie Biden’s efforts to rejoin the Paris climate agreement and the Iran nuclear deal. Sens. Ted Cruz and Lindsey Graham are working to get the agreements submitted to the Senate for ratification, requiring a two-thirds vote, with the goal of failure. While such an outcome wouldn’t prevent Biden from rejoining the accords, Cruz and Graham hope it would make their resurrection more problematic.

A vote against them would signal GOP opposition to the world and, they hope, undermine any unilateral action by Biden to rejoin the agreements. One senior congressional aide told RCP that sending them to die in the Senate “would be the final nail in the coffin.”

Further reading: “Biden To Be Saddled With Trump’s Payroll Tax Deferral Mess,” Forbes.
Further reading: Biden will inherit a backlog of tens of thousands of visa requests from the wars in Iraq and Afghanistan — and a bureaucratic tangle that refugee advocates say President Trump ignored or made worse.

Trump money and properties

Manhattan District Attorney Cyrus Vance is employing forensic accounting specialists to examine Trump’s finances and business operations. Vance is looking “for anomalies among a variety of property deals” and trying to determine “whether the president’s company manipulated the value of certain assets to obtain favorable interest rates and tax breaks”.

The analysts hired by Vance probably have already reviewed various bank and mortgage records obtained from Trump’s company as part of the ongoing grand jury investigation, and they could be called on to testify about their findings should the district attorney eventually bring criminal charges

In yet another shady business deal connected to Trump, the United States sold the ambassador’s residence in Israel for more than $67 million. The person who bought the residence is none other than Trump mega-donor Sheldon Adelson. The property only became available due to Trump's controversial decision to relocate the U.S. Embassy from Tel Aviv to contested Jerusalem. Furthermore, State Dept. representatives reportedly lied to Congress about the sale, perhaps to hide that Adelson purposefully overbid.

For now, there is no alternative residence for the ambassador, David Friedman, Trump’s former lawyer, who currently uses a suite at Jerusalem’s King David Hotel or rooms at the former Jerusalem Consulate General when he spends nights in Jerusalem… As a result, the United States appears likely to end up leasing the residence it has owned since 1964 from the GOP-affiliated casino mogul.
“It is very strange that we are now paying Sheldon Adelson,” a congressional aide told The Daily Beast. “It is not above board. We have a number of questions. Did they get two independent appraisals? Was it a sweetheart deal? Was Adelson the highest donor? Was there a reason to sell it now?”

Trump’s businesses have taken in $10.5 million of donor money over the course of his presidency. $8.5 million came from the Trump campaign and related entities that Trump controls directly; $2 million came from other Republican candidates and committees. The biggest beneficiary was Trump’s NYC hotel, taking in $3,039,979 over the four years of his presidency, with $891,003 of that in just the final four months of the campaign.
Trump’s DC hotel is ramping up room prices and requiring a two-night minimum stay for two key events this month, as the president tries to squeeze more profit out of his office. On Jan. 6, when Congress is set to formally count the votes cast by the Electoral College, room rates are listed at over eight times the price of surrounding dates. Trump is encouraging his supporters to attend a protest of Biden’s win on the 6th. A room during the inauguration costs five times the normal rate, at $2,225 per night.
Trump’s Turnberry Resort in Scotland posted a £2.3 million ($3.1 million) loss in 2019, marking the sixth year in a row it has failed to turn a profit under his ownership. Since Trump took over the historic property in 2014, its losses now total nearly £45 million ($61.5 million).

The fact Turnberry remains in the red comes in spite of significant tranches of payments it has received from the US government during Mr Trump’s single term in office… the US Secret Service spent nearly £25,000 to accommodate its agents at the resort during business trips by Mr Trump’s son, Eric, an executive vice-president of the family firm. Since Mr Trump’s election, the property has received close to £300,000 from the Secret Service, US State Department, and US Defence Department

A Florida state lawmaker is calling for Mar-a-Lago to be penalized - and possibly shut down - for flouting coronavirus restrictions during a New Years Eve party. While Trump and the first lady did not attend, son Don Jr., attorney Rudy Giuliani, Rep. Matt Gaetz, and Fox News personality Jeanine Piro were captured on video among the maskless crowd. Guests paid as much as $1,000 for access to the ballroom to be entertained by Vanilla Ice.

State Rep. Omari Hardy: “My constituents are not snowbirds like @DonaldJTrumpJr & @kimguilfoyle. My constituents live here. This is their home, and they're going to have to deal w/ the consequences of a potential super-spreader party at Mar-a-Lago long after Junior & wife leave here on their private jet.”

Are you ready for a Donald J. Trump Airport? According to the Daily Beast, Trump has been asking aides about the process of naming airports after former U.S. presidents.
Further reading: “Jared Kushner’s family real estate business wants to raise at least $100 million in capital through Israel’s bond market… Kushner has helped spearhead a series of moves that have been applauded by the conservative pro-Israel community, including moving the U.S. Embassy to Jerusalem from Tel Aviv and recognizing Israeli sovereignty in disputed areas such as the Golan Heights. Kushner also has close ties to Israel’s prime minister, Benjamin Netanyahu.”

Miscellaneous

The Census Bureau missed it’s end-of-year deadline to produce numbers that determine representation in Congress and the Electoral College for the next decade. The agency is working toward Jan. 9 as an internal target date for completing the current stage of processing records. "If we miss Jan. 9, it's hard to envision that we would get apportionment done before inauguration," a Census employee told NPR.

The final timing of the 2020 census results' release could undermine President Trump's efforts to make an unprecedented change to who is counted in key census numbers before leaving office… If the first census results are not ready until after Trump's term ends on Jan. 20, it would be President-elect Joe Biden, not Trump, who would get control of the numbers, which are ultimately handed off to Congress for certification.

Disclaimer: This article my article. You are reading it first, as I didn't post it anywhere else.
Summary

• Game developer with $450 million in revenue with $110M net profit valued at Price to Sales (P/S) ~4.2.
• Company seems reasonably valued, operating in growing mobile games market.
• Risk-reward ratio at current price is outstanding due to SPAC-merger rules with the cash NAV set at $10.

Kismet Acquisition One (KSMT) to Combine with Nexters Global in $1.9Bn Deal

Not much information about this company, so I started writing my own research on the company. Here is the investor presentation:
https://nexters.com/images/inv_info/Nexters_Investor_Presentation.pdf
If want to understand the valuation of the company, the risk/reward, and the potential I need to answer the following questions:

1. What is Nexters Global?
2. SPAC is a safe bet?
3. Comparison with its competitors?
4. $1.9B is cheap or expensive?

Let's begin!

1. What is Nexters Global?

Nexters Global is a fast-growing mobile game development company with $450 million gross revenue* (2020), 85 million total game installs, 5.4 Million monthly active users, with 10x growth of revenue in the last 2 years. Already profitable with $110 million net profit in 2020.
The management has more than 10 years of experience in creating games. Located in Cyprus (Europe) with roots in Russia (a very strong IT region). They are well known for being in Game Development since early 2005 in the epicenter of the web, social and mobile game development.
https://preview.redd.it/juhbhhuwhmg61.png?width=640&format=png&auto=webp&s=529a0e927aa3bc3205430d97204d3d625f36fc8d
Since the launch, the company has proven that it can develop, publish and use marketing to scale its games. With 37% of its revenue coming from the US/Canada, 23% from Europe, 19% from Asia it is already an international company.
\In the investor presentation Nexters Global states 310 million net revenue, as at the* sec.gov reports it is more common (example) to use the gross revenue for gaming companies as their base metrics. That's why here and below I’m using gross revenue. Please see the spreadsheet below with a comparison to other companies.
Further plans are:
​
https://preview.redd.it/t9kdphd0img61.png?width=994&format=png&auto=webp&s=b70e92455e253033e99a91b17b0a1f85012e1e5b

• To increase the revenue of existing games (basically, double the revenue in 3 years).
• Launch new titles in 2021: 3 new games announced
• Working on the sequel of their best selling game "Hero Wars 2".
• Use cash to acquire other game developers with great games to amplify revenues using their expertise and marketing/production capabilities to make global hits.

2. SPAC is a safe bet?

There are so many SPACs, that we should be very selective on what we choose to buy. To do that we need to check if the business is real.
There are different kind of risky SPAC’s on the market:

• Without product
• Without revenue
• Without an addressable market
• Without proof that they can scale

We need to verify that Nexters Global is not on that list. Let’s have a look at the company:
The product? Web, Social, Mobile Games.
To check if their numbers are real simply open the game page in App Store and Google Play store.
Android Apps by NEXTERS GLOBAL LTD on Google Play
‎Nexters Global LTD Apps on the App Store
The top game has more than 50,000,000 installs with more than a million positive reviews and an average rating of 4.6. With other games/stores combined, it correlates with the company's stated 85 million installs.
​
https://preview.redd.it/jwh51gm2img61.png?width=735&format=png&auto=webp&s=428ec2dc85a4a6c1d51c67aa8fa1f7876edd3dab
I like that I can see the numbers myself, and also can "touch" the product and how it works. it increases my confidence in owning the stock.
Actually, I have been playing their top-grossing game Hero Wars for several months last year. And I loved it... loved it so much that I’ve spent around ~1000 dollars within 3 months. And I’ve seen players that spent much much more than me (higher ranked, had much more power and ranks). And there were so many players that they had to add new servers each week, or even daily.
The first impression is that I really like the product. I see how it works.
The revenue. It's huge.
In the SPAC world, there are companies that can’t make revenue but predict that their revenue will go up 10-20-50x times in 3-5 years. Usually, such companies are SCAM as they mislead investors with revenue that will never happen.
On another side, Nexters Global has already $450 million in revenue with a $110M profit. And the growth rate is +177% YoY. And even the slowdown in growth means the actual increase in revenue substantially, just by the magic of the compound growth.
I like the numbers very much here.
The addressable market
How big is the addressable market? The World’s 2.7 Billion Gamers Spent $175 Billion on Games in 2020; The Market Will Surpass $200 Billion by 2023. So Nexters Global is well-positioned in expanding market.
​
https://preview.redd.it/tf41au04img61.png?width=888&format=png&auto=webp&s=7547a1d3c2c8da43554a655d9b32bb4aaf4f2d97
Revenue geography shows that it is also diversified well. The company has proven that it can generate revenue all around the world, not just in its local market. That is very important in order to calculate the valuation of the company.
​
https://preview.redd.it/sxq08qg5img61.png?width=362&format=png&auto=webp&s=ed9b771d632268efb31d96d57c831d61d8caf12f
But how long Nexters can generate revenue?
Unlike the traditional PC gaming, where the peak of sales occurs after the launch of the game and then shrinks a lot, in the online mobile game market - games get updates each month/quarter to engage customers and make them stay in the game longer.
Games with great engagement + marketing resources can stay on top charts for many years.
You just reinvest part of your revenue into marketing to earn even more. It works for games with high revenue per player (ARPPU).
Nexters Presentation: $106 - Average net bookings per paying user(2) (Q4’20)
​
https://preview.redd.it/jsqcmby6img61.png?width=666&format=png&auto=webp&s=f96f6ef490ee2b16cf6ca01e8508df578bfdd302
Percentage of paying users increases. Average net booking increases.
With the 6% of paying users and $106 net payment - it is quite easy to calculate that you earn $6.36 from any user that downloads the app, so you can spend on advertisement a lot of money and you will earn even more.
When you have 277% revenue growth in 2019, 177% in 2020 it won’t just stop growing. Next year double-digit growth of revenue is highly probable.
From a statistical behavior the growth slowdown to zero is very unlikely. If we take examples of other super-hit games from Supercell (Clash of Clans) and Playrix (Gardenscapes).
Example: Playrix did continue to grow since 2016 explosive revenue withadding +41% YoY growth in 2018 +35% in 2019.
​
https://preview.redd.it/so9ijp08img61.png?width=667&format=png&auto=webp&s=6f6acbdf41374f89c045bb07c4b4e5f7dc235bf9
Another example: Supercell's revenue continued to grow at least 2 years after the revenue explosion before slowing down.
​
https://preview.redd.it/tjjuf159img61.png?width=855&format=png&auto=webp&s=01116616d83bbeeb34bbe98da012d22c3964f5d5
The growth
Great games could continue to grow. Nexters Global estimates their net revenue to reach $562 million dollars. That equals to ~$802 million gross revenue in 2023. And the company is valued at just 1.9B now. Re-think that.📷
This chart also shows that they project only +10.5% YoY growth in revenue in its current games after this year's gain. Which I think is too conservative considering the examples above. I understand that they’ve chosen the strategy not to mislead investors and should stay conservative, but I think they will easily beat their own estimates and 20-25% growth is much more realistic.
The good thing is that we can track their performance in terms of downloads and revenue in stores. We can stay ahead and know the data earlier than official numbers come out, which brings another level of transparency for investors.

Kismet Acquisition One Corp company

The company is led by CEO and Director Ivan Tavrin, the founder and Principal of investment firm Kismet Capital Group. Tavrin previously served as the CEO of PJSC MegaFon, Russia's second largest telecommunications operator, and before that, he founded UTH Russia, one of the largest independent media broadcasting groups in Russia.
Kismet Acquisition Two plans to target the internet and technology sectors operating in Europe, including Russia, as well as businesses established by founders with Russian origins.
Credit Suisse, BofA Securities and LionTree Advisors served as financial and capital markets advisors to Kismet Acquisition One Corp.
Advisors look good to me. The CEO's background and experience too. Additionally, he was one of the shareholders in the recently launched Russian IPO "OZON" marketplace. Which is now +120% up.
The only thing that sounds scary here is the word “Russia” everywhere. Is there an unwanted geopolitical risk? From the legal point of view, every entity is registered under British Law jurisdictions (Cyprus, BVI). So, basically, there shouldn't be any problems.
Well... they would better be in the US as many investors don’t like foreign companies. But there are great examples of super successful Supercell and Rovio that were NON-US too. And we know that the Russian Tech-sector is high qualified (Google Founder - Sergey Brin, Pavel Durov - Telegram, Vitalik Buterin - Etherium, and even Russian Hackers is a “meme”).
And as I said before their business looks crystal clear, anybody can check their metrics so they can’t fraud the data, unlike, for example, Luckin Coffee did in China. Therefore, this kind of risk is eliminated.

3. Comparison with its competitors?

Let's talk about numbers. I’ve tried to compare the game developer to its direct competitors. I've selected only companies with major mobile game-driven revenue.
Here is the full spreadsheet access: Nexters Global Comparison
I’ve marked the concerning metric with yellow and red, Good metric with green, Superb one with dark-green color.
​
https://preview.redd.it/tmsosbtaimg61.png?width=1079&format=png&auto=webp&s=2b50cd7a1a54115bb496849c43b3611094fc6309
Please take time to read the numbers and come back after.
Update! With the latest news that Electronic Arts buys GLU Mobile with +39% premium from the market - the sector is officially undervalued.
Thoughts on Nexters Global

• Nexters is big enough in terms of revenue
• The MAU (Monthly Average Users) is not very big. While you can consider that as a “minus” that's actually the sign of a young company, with the opportunity to attract more users “cheaper” (with high efficiency). When you already big and you have hundreds of million players, you have to spend more and more money on user acquisition.
• No diversification. That’s a red flag. Hearing of 3 titles coming next year + Hero Wars 2 to be developed. And the idea of acquisition of small developers with excellent games to amplify their revenue 10-100 times promoting it around the World is the Next goal for Nexters. This will bring diversification.
• Remember that Supercell (also a European company, HQ in Finland) with its only best selling game was sold to Tencent at a $10.5 billion valuation. This "Hero Wars" game is currently following its path (in terms of growth numbers & revenue).
• Games are high gross margin projects. I assume this gross margin from the cost of revenue is: AppStore/Google Play 30% commission + spending on maintaining the Servers. That brings me to the industry average of 65%
• Marketing spending numbers are rational (20-40% zone), in order to stay profitable and to maintain modest growth.
• It's already a large scalable company. No “company growth issues” seen through this data. Sign of good management here.
• Unusually high net income seeing here. Assumption: Research & Development costs /Administrative spending / Sales and Marketing is much lower compared to other US companies. Probably they benefit from HQ being outside of the US. That should affect the company multiplicators (P/E) positive.
• With not very high US Market penetration - the opportunity still there.
• Game reviews/rating is essential in mobile games: The higher-rated games = the cheaper is the cost of user acquisition. The longer players stay in-game. The “4.5” rating tells me that customers of this company are very satisfied.
• Fascinating growth. Very young company. The slowdown in growth is expected but compound growth is still very probable.
• Estimated Compound Annual Growth (CAGR) is 25%. Which would bring the company ~$802 million revenue in 2023.
• Is the company valued right? It's more profitable in comparison to its competitors, its double-triple digit growth company with all signs of the trend to continue.
• The company is honest with its estimates and setting very realistic numbers. Other SPACs prefer to predict 10,20,50x revenue in the future even without proving they can scale. This company is doubling-tripling every year and shows estimates of 25% annual growth each year.

I ended up with numbers: P/S = 4.19, P/E = 17.27. This valuation seems just right with current earnings and the sector, but not with the future growth. As there is a Hot trend in gaming and with outstanding YoY growth could be worth much much more.

4. $1.9B is cheap or expensive?

The current price of $KSMT (“GDEV”) is $10.15 which represents a $1.9B valuation. Before the deal is completed the price cannot be valued less than $10 due to SPAC rules. So there is simply no downside risk at this point..
But can it go up? What is fair valuation? Is there a risk of a selloff from shareholders? How rich the valuation can be in terms of P/E (Price to Sales ratio)?
First, let's find out the risk of insider selling:
Here is the sec report: https://www.sec.gov/Archives/edgadata/1814824/000121390021005589/ea134294ex99-1_kismet.htm
The Transaction is expected to deliver up to $150 million in cash to the Company’s balance sheet before advisor fees and/or redemptions by Kismet Acquisition One Corp. current shareholders, with proceeds expected to be used for general working capital purposes and potential acquisitions. Existing shareholders of Nexters will receive a cash payment of up to $150 million pro-rata to their pre-money shareholdings, and will roll approximately 92% of their holdings into the combined company while agreeing to a 12 month lock-up (subject to certain exceptions). In addition, the founders and the management will receive 20.0 million Earn-Out shares over 3 years (with 50% of the Earn-Out released at $13.50 VWAP and 50% released at $17.00 VWAP), also subject to a 12 month lock-up. The Transaction will be funded by approximately $250 million held in trust by Kismet Acquisition One Corp., subject to any redemptions, as well as the additional $50 million investment by the SPAC Sponsor, Kismet Capital Group, via an affiliate.
The investors will have a 12-month lock-up on selling + they get benefits on reaching the valuation 35% and 70% higher from the current price. This means that there will be no insider selling in the near term, which is very positive signal.
Acquisitions
Nexters Global plans to use proceeds in M&A (buying small game development studios with great projects that just don’t have enough cash, expertise, or right developer team) to benefit from its situation in order to launch great games worldwide.
​
https://preview.redd.it/xhypgzqfimg61.png?width=1000&format=png&auto=webp&s=642c03fecbb851984527c46774beb0ecc44eba0a
It is a common mistake to assume that great games can be run by small studios or individuals, as in 2020 you need at least a couple of million dollars spent on marketing to understand if the project is worth it, or not. Small developers can’t afford it. On the other side, Nexters can benefit from it really well.
If they are successful in that, we could see 10+ new titles in the future. That could diversify its game portfolio, making this company a safe bet for Hedge funds and other market players, driving future growth.
“Hero Wars 2” game announcement.
Hero Wars is the top-grossing game, which generates most of the revenue. With “Hero Wars 2” announcement the company can benefit a lot..
Usually, game sequels can do very well, as they are easier to promote, finding their “fan base” from the beginning. This could create a new source of income, work as a diversification, launch the new cycle of the revenue stream for many years ahead.
Partnership with Playrix founders
Here is another thing that I want to focus on:
Bukhman brothers acquired a 43% stake in Nexters in 2018
They are founders of “Playrix” - a private mobile game developer company, currently valued at $7B(valued in Q1 2020). Now more likely ~11B as their revenue increased 1.5 times during 2020.
Please read these articles in Bloomberg and Forbes first:

1. https://www.bloomberg.com/news/articles/2020-09-29/billionaire-gaming-brothers-emerge-as-tencent-s-biggest-rival
2. https://translate.google.com/translate?sl=ru&tl=en&u=https://www.forbes.ru/milliardery/410509-nash-rost-ne-svyazan-napryamuyu-s-lokdaunom-milliarder-igor-buhman-o-tom-chto

Summary from the articles:
Cashing out (selling out to Tencent or Activision Blizzard) is not interesting right now. We are growing every year. Game industry multiplicators of public companies were priced wrong . This year has changed it. And this trend will continue as top games can grow for many many years, reengaging users with updates.
Playrix is not interested in IPO's at this valuation. They want to wait until the market changes and start pricing gaming companies at different valuations, not the 4-5 year revenues, but maybe more like Tech companies are valued now (P/S 20-30 instead of 4-5)?
I can assume that Playrix founders are interested in the long-term success of Nexters Global SPAC-merger in order to change how markets price the gaming companies as they want to bring Playrix to an IPO in the future. They want to wait until the market starts pricing gaming companies at different valuations, not the 4-5 year revenues, but maybe more like Tech companies are valued now (P/S 20-30 instead of 4-5)?
So, for the Bukhman brothers who own 43% shares, Nexters Global is a long-term play company. They don’t want/need to cash out.
I also think that at some point, Tencent could just buy 20-30% of the company through the open market (buying shares). Why? Because it is common for Tencent to buy a stake in gaming companies that earn a lot of cash and priced at these valuations.
​
https://preview.redd.it/uphpbubcimg61.png?width=804&format=png&auto=webp&s=4f35889049fa9302786bf65d1b83f02a92d71eef
​

Summary

In my personal opinion, this is a great company with a bright future.
Valuation seems reasonable and there is a big upside if any of those happens:

• Company starts to actively search for acquisition targets (we will see from press-releases)
• Company launches "Hero Wars 2" title
• The company beats its own low guidance estimates (which I think the most probable)
• Company launches more titles which enter “Top ranks” in AppStore/Google Play store.
• Aggressive Tencent/Other major Gaming Holdings buying.

At this exact moment, the fair valuation of the company will move to $3-4 billion dollar. (+100% upside).
At this right moment of the time as the price is near $10 there is literally no risk in a pre-merger state, as SPAC can’t go below $10 price by its concept.
Disclosure: At the moment of writing this article I do have a position in $KSMT, that is not more than 10% of my entire portfolio. I do not plan to sell at any nearest time in future. Stocks are risk assets and this is not investment advice.

By @aaacommie (previously stevia_potatohead) on Instagram | @stalynn07 on Twitter.
Firstly, the Modi Government is an embarrassment on its own. https://m.thewire.in/article/external/narendra-modi-delhi-riots-global/amp?__twitter_impression=true Now let's get into the reasons why everyone should oppose this party of genocidal maniacs. Major trigger warning for many of these. (r@pe, mrder, sic*de, graphic content)

1. The CAA bill. https://cjp.org.in/why-the-caanprnrc-is-a-toxic-cocktail-for-everyone/ https://theprint.in/india/we-are-shrinking-india-by-highlighting-our-differences-young-india-isnt-happy-harsha-bhogle/340710/
   
2. Demonetisation which was a big flop. https://m.businesstoday.in/story/lets-admit-it-demonetisation-was-a-failure/1/281860.html
   
3. Amit Shah corruption. https://www.business-standard.com/article/current-affairs/jay-amit-shah-controversy-criminal-defamation-case-and-top-10-developments-117101000160_1.html
   
4. Gujarat 2002. https://www.theguardian.com/commentisfree/2012/ma14/new-india-gujarat-massacre
   
5. GST https://timesofindia.indiatimes.com/blogs/cash-flow/gsts-problems-are-worsened-by-shoddy-planning-and-poor-implementation-at-the-start/
   
6. Umar Khalid was arrested under a draconian law. https://m.thewire.in/article/rights/modi-government-umar-khalid-delhi-riots
   
7. Sharjeel Imam was arrested under a draconian law. https://www.thequint.com/news/politics/sharjeel-imam-jnu-anti-caa-protests-indian-muslims-modi-government#read-more
   
8. Siddique Kappan wrongfully arrested and also being treated badly in jail. https://indiatomorrow.net/2020/12/23/police-torturing-my-husband-in-jail-alleges-raihanath-wife-of-journalist-siddique-kappan/
   
9. Prashant Kanojia was arrested over a tweet. https://m.economictimes.com/news/politics-and-nation/up-government-arrests-prashant-kanojia-for-fake-tweet/articleshow/77615978.cms?utm_source=whatsapp_pwa&utm_medium=social&utm_campaign=socialsharebuttons
   
10. Stan Swami was treated badly. https://www.outlookindia.com/website/story/india-news-what-message-does-bjp-want-to-give-jharkhand-cm-on-stan-swamys-arrest/361889
    
11. JNU attack. https://m.economictimes.com/news/politics-and-nation/modi-government-faces-unprecedented-criticism-over-attacks-on-jnu-students-by-masked-goons/articleshow/73126289.cms
    
12. Jamia attack. https://m.thewire.in/article/politics/jamia-attack-opposition-parties-reactions
    
13. AMU incidents. https://www.nationalheraldindia.com/india/amu-violence-bjp-rss-attempt-to-communalise-incident-ably-foiled
    
14. Massive criminal records of BJP candidates. https://m.economictimes.com/news/elections/lok-sabha/india/in-2019-general-elections-no-bar-on-candidates-charged-with-murder-or-rape/articleshow/69318220.cms https://www.indiaspend.com/55-of-lok-sabha-mps-facing-criminal-charges-are-from-bjp/
    
15. Undemocratically passed farm bills. https://www.timesnownews.com/india/article/what-is-the-farm-bill-and-why-are-farmers-protesting-against-it/689215
    
16. The new education policy which is a nightmare.
    

https://www.newindianexpress.com/opinions/2020/aug/12/does-the-national-education-policy-miss-out-on-real-issues-2182273.html
https://indianexpress.com/article/opinion/new-education-policy-2020-regional-language-bhasha-medium-schools-6537823/#:~:text=NEP%202020%20does%20not%20tackle,more%20of%20them%20will%20sprout. https://indianexpress.com/article/opinion/columns/nep-national-education-policy-p-chidambaram-6556452/
https://www.cpim.org/pressbriefs/cpi-m-response-new-education-policy-2020-nep https://www.akademimag.com/nep-2020

1. The privatisation of airports. https://www.nationalheraldindia.com/india/airports-for-sale-modi-government-to-privatise-six-more-airports-adani-may-get-all-of-them

https://www.newsclick.in/rail-oil-airports-everything-will-be-sold-slogan-will-be-i-will-not-sell-country

1. New parliament because we really lack parliaments don't we. https://scroll.in/article/980453/the-political-fix-why-indias-new-parliament-building-portends-a-north-south-tug-of-war

https://www.ndtv.com/india-news/central-vista-project-wasteful-and-unnecessary-69-ex-bureaucrats-to-pm-2342251
https://m.thewire.in/article/government/central-vista-parliament-building-redevelopment

1. A statue - the tallest one. https://theprint.in/opinion/even-if-statue-of-unity-becomes-as-famous-as-taj-mahal-we-need-120-years-to-break-even/142596/?amp
   
2. Ram temple. https://m.thewire.in/article/religion/ayodhya-ram-mandir-temple-babr-masjid-bhoomi-pujan
   

https://scroll.in/article/901042/gen-92-on-ram-temple-why-waste-peoples-hard-earned-money-on-shrines
https://feminisminindia.com/2020/09/02/ayodhya-masculinisation-of-indian-politics/

1. Babri demolition issue. https://m.thewire.in/article/communalism/babri-masjid-the-timeline-of-a-demolition also watch the Ram ke naam documentary on YouTube.
   
2. Not providing funds for flood affected Kerala. https://www.indiatoday.in/india/story/no-flood-relief-to-kerala-centre-ignores-left-ruled-state-again-in-fund-release-1634741-2020-01-07
   
3. Modi denies climate change. https://www.climatechangenews.com/2014/09/08/the-miseducation-of-narendra-modi-on-climate-change/ https://feminisminindia.com/2020/03/10/modi-isnt-telling-about-climate-change/
   
4. The transphobic trans bill. https://www.downtoearth.org.in/blog/governance/why-is-transgender-community-unhappy-with-trans-persons-bill--67158
   
5. BJP workers beating up protesting farmers. https://www.telegraphindia.com/india/bjp-workers-thrash-farm-bill-protesters/cid/1793082
   
6. Doctors protesting against mixopathy. https://www.nationalheraldindia.com/india/doctors-protest-intensifies-as-modi-govt-allows-ayurvedic-doctors-to-perform-surgery
   
7. Oppression of dalits increased during NDA rule. https://peoplesdemocracy.in/2019/0407_pd/attacks-against-dalits-spike-%E2%80%98modi%E2%80%99fied-india
   

https://www.shethepeople.tv/top-stories/opinion/caste-in-crime-cases-like-hathras-gang-rape-dalit-woman/

1. Casteism has also been a big issue under this regime.

https://www.edexlive.com/opinion/2019/may/12/chaiwala-chowkidar-and-caste-politics-in-india-does-narendra-modi-talking-about-caste-add-to-his-w-6118.html https://theprint.in/opinion/forget-about-dalit-voters-tell-us-why-upper-caste-hindus-voted-for-bjp-like-never-before/249420/
I recommend watching the documentaries. The die is caste and india untouched. Both of them are available on YouTube.

1. Islamophobia increased under this regime. https://m.thewire.in/article/communalism/this-is-what-the-modi-sarkar-has-done-to-indian-muslims

https://theconversation.com/amp/why-modis-india-has-become-a-dangerous-place-for-muslims-132591?
https://feminisminindia.com/2020/01/02/recent-islamophobic-legislations-bjp-government/

1. BJP protesting against halal. https://www.india.com/viral/hindutva-outfits-trigger-wave-of-islamophobia-to-curb-economic-jihad-bjp-mla-backs-boycotthalalproducts-on-twitter-4030747/
   
2. BJP is anti minority. https://www.theguardian.com/world/2020/feb/20/hindu-supremacists-nationalism-tearing-india-apart-modi-bjp-rss-jnu-attacks
   
3. Removal of article 370. https://www.bbc.com/news/world-asia-india-49234708 https://feminisminindia.com/2020/01/22/siege-normalcy-kashmir-restored/
   
4. Kashmir blackout. https://www.theguardian.com/world/2020/jan/05/the-personal-and-economic-cost-of-kashmirs-internet-ban
   
5. Muzzaffarnagar riots. https://www.nationalheraldindia.com/national/muzaffarnagar-riots-2013-six-years-later-no-closure-yet
   

    https://www.thehindu.com/news/national/other-states/warrants-against-bjp-leaders-in-muzaffarnagar-riots-case/article21822982.ece 

6. Increase in unemployment. https://theprint.in/economy/polls-done-modi-govt-releases-jobs-data-that-showed-unemployment-at-45-year-high/244163/ https://scroll.in/article/914338/the-modi-years-did-indians-find-jobs-or-lose-them
   
7. Farmer suicides increased during modi's government. https://www.asianage.com/metros/mumbai/030220/bjp-regime-saw-more-farmer-suicides.html
   

https://mumbaimirror.indiatimes.com/mumbai/cover-story/figures-double-under-bjp-led-regimes-watch/articleshow/68160764.cms 37. Delhi pogrom. https://www.theatlantic.com/ideas/archive/2020/02/what-happened-delhi-was-pogrom/607198/
https://theprint.in/opinion/delhi-pogrom-2020-is-amit-shah-answer-to-an-election-defeat/371558/
https://www.theguardian.com/world/2020/ma01/india-delhi-after-hindu-mob-riot-religious-hatred-nationalists

1. GDP. https://indianexpress.com/article/opinion/columns/indian-economy-gdp-decline-nirmala-sitharaman-gst-coronavirus-narendra-modi-govt-6587071/ https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse
   
2. The situation of railways after nda administration. https://www.nationalheraldindia.com/india/axe-of-privatisation-on-indian-railways-one-by-one-national-jewels-are-being-sold-off https://www.deccanherald.com/opinion/panorama/rti-exposes-poor-functioning-of-railways-under-modi-727034.html
   
3. Lies on village electrification. https://www.forbes.com/sites/suparnadutt/2018/05/07/modi-announces-100-village-electrification-but-31-million-homes-are-still-in-the-dark/?sh=35d68a2d63ba
   
4. Failure of beti bachao beti padhao. https://m.thewire.in/article/education/beti-bachao-beti-padhao-scheme-failed https://www.nationalheraldindia.com/india/beti-bachao-beti-padhao-56-of-budget-spent-on-advertising-the-scheme-a-failure-says-sushmita-dev#:~:text=When%20asked%20about%20%E2%80%9Cwhether%20the,for%20improvement%20in%20sex%20ratio.
   
5. Failure of make in India. https://www.outlookindia.com/website/story/opinion-make-in-india-pm-modis-flagship-programme-has-failed-to-deliver-and-numbers-show/347376
   
6. Failure of Ayushman bharat. https://www.epw.in/engage/article/ayushman-bharat-and-false-promise-universal#.X-
   
7. How swachh bharat failed. https://m.thewire.in/article/environment/even-if-data-is-legit-swachh-bharat-will-have-failed-its-open-defecation-goal
   

https://www.thecitizen.in/index.php/en/NewsDetail/index/4/15064/The-Failure-of-the-Swachh-Bharat-Abhiyan 45. Lies spread about shaheen bagh by rss. https://theprint.in/opinion/people-occupation-of-shaheen-bagh-speaks-truth-to-powe351974/

1. Detention centres. https://www.bloomberg.com/features/2020-modi-india-detention-camps/
   
2. The myth of love jihad. https://timesofindia.indiatimes.com/home/sunday-times/how-the-myth-of-love-jihad-is-going-viral/articleshow/79111670.cms
   
3. BJP coming out in support of rapists. https://www.indiatoday.in/india/story/kathua-rape-case-2-bjp-ministers-attend-rally-in-support-of-accused-1181788-2018-03-04 https://gaurilankeshnews.com/rashtriya-savarna-parishad-protests-in-support-of-hathras-thakur-rapists/
   
4. No action on pollution and environment. https://theprint.in/opinion/environment-is-the-most-under-reported-failure-of-narendra-modi-government/223670/
   
5. BJP is anti-reservation. https://theprint.in/opinion/subramanian-swamy-was-right-modis-lateral-entry-plan-will-make-reservations-irrelevant/250311/
   
6. They are Hitler sympathizers. https://t.co/KGzB3ILpsd
   
7. Modi is great friends with trump. https://www.theguardian.com/world/2020/ma02/how-modis-hindu-nationalism-complements-trumps-racism https://www.nationalheraldindia.com/opinion/right-wing-politics-is-similar-in-both-america-and-india-modi-abuses-official-power-same-way-as-trump https://feminisminindia.com/2020/03/02/donald-trump-visiting-india-entertaining-serial-sexual-harasse
   
8. BJP spent money in hiding slums. https://www.theguardian.com/world/2020/feb/18/trump-india-visit-wall-criticism-hiding-poor-people https://www.deccanherald.com/opinion/the-gujarat-model-why-walls-cant-hide-the-truth-806336.html
   
9. The attack on Aishe Ghosh. https://www.hindustantimes.com/india-news/blood-or-paint-on-aishe-s-forehead-bengal-bjp-boss-sparks-outrage/story-8Ue9PQt1tdxrQrOaJ6N2XO.html
   
10. Kapil Mishra incited violence but no action was taken. https://m.thewire.in/article/communalism/delhi-riots-kapil-mishra-minority-commission-report https://feminisminindia.com/2020/06/02/women-activists-behind-bars-kapil-mishra-scot-free/
    
11. Kashmir coup. https://www.theguardian.com/world/2019/aug/10/modi-hardline-hindu-coup-kashmir-threatens-india-democracy
    
12. Problems with the EIA draft 2020. https://timesofindia.indiatimes.com/readersblog/wakeup-india/why-eia-2020-is-not-good-for-environment-23757/
    
13. Rise of unlawful murders in Modi's Gujarat. https://www.bbc.com/news/world-asia-india-16722178
    
14. The extremely bad treatment of migrant workers. https://theprint.in/india/why-did-modi-abandon-us-migrant-workers-hit-hard-by-lockdown-are-angry/439418/
    
15. Gauri Lankesh murder. https://cpj.org/?p=39656
    
16. Modi's control on the media. https://www.nytimes.com/2020/04/02/world/asia/modi-india-press-media.html#click=https://t.co/JkwiLU019Y
    
17. Cutting of Aarey forest https://www.hindustantimes.com/mumbai-news/mmrc-begins-mumbai-metro-construction-work-at-aarey-residents-file-complaint/story-eVUO3LIXLBQoG5azjRNTBO.html
    
18. Aravalli destruction. https://indianexpress.com/article/cities/delhi/gurgaon-residents-take-up-fight-against-road-project-through-aravalli-park-5422577/
    
19. Naming students as Anti National and misguided. https://scroll.in/article/949119/the-daily-fix-how-bjps-politics-of-perpetual-confrontation-is-destroying-india
    
20. BJP's treatment of women. https://feminisminindia.com/2019/04/23/bjp-treating-indian-women/
    
21. Anti Worker and Labour laws. https://feminisminindia.com/2020/02/10/low-wages-no-rights-bjps-amendments-disaster-labour-india/
    
22. The draconian UAPA bill. https://m.thewire.in/article/rights/uapa-bjp-terrorist-amit-shah-nia
    
23. The outrage against the tanishq ad portraying communal harmony. https://feminisminindia.com/2020/10/16/how-the-criticism-against-tanishq-ad-peddles-a-hindutva-nationalist-narrative/
    
24. Hindu Rashtra: Some are more equal than others. https://feminisminindia.com/2020/01/02/hindu-rashtra-some-more-equal-than-others/
    
25. The surplus problem in India. https://feminisminindia.com/2020/06/05/surplus-problem-hunger-food-environment/
    
26. Education in Modi's India. https://feminisminindia.com/2020/03/19/safe-to-get-an-education-modis-india/
    
27. Rohith Vemula. https://feminisminindia.com/2020/01/17/institutional-casteism-4-years-rohith-vemula/
    
28. Modi's communal remark on clothes. https://m.thewire.in/article/communalism/narendra-modi-citizenship-amendment-act-protests-clothes
    
29. Sabarimala issue. https://www.livemint.com/Politics/teonT4drie4Y6T81F7tdSK/Ahead-of-Sabarimala-temples-opening-BJP-holds-protests-aga.html
    
30. The problem with Section 144. https://www.deccanherald.com/opinion/main-article/section-144-chaining-freedom-801890.html
    
31. Lies on Internet Shutdown. https://feminisminindia.com/2019/12/23/lie-digital-india-truth-internet-shutdown/
    
32. Sudha Bharadwaj denied bail without trial. https://m.thewire.in/article/rights/sudha-bharadwaj-bhima-koregaon-case-arrest-bail-health
    
33. Hindi Imposition. https://scroll.in/article/925759/why-imposing-hindi-on-india-is-a-bad-idea
    
34. Homophobia. https://feminisminindia.com/2018/07/18/gay-modi-fans/
    
35. Modi's sexist remarks. https://feminisminindia.com/2015/06/09/despitebeingawoman-and-other-sexist-remarks-by-pm-modi/ https://cpiml.net/liberation/2015/07/modis-misogyny-not-slip-tongue
    
36. Amit shah calls infiltrators 'termites' and says BJP will throw them out. https://www.indiatoday.in/elections/lok-sabha-2019/story/bjp-amit-shah-hindu-refugees-mamata-bannerjee-1499691-2019-04-11
    
37. Arrest of Kafeel Khan. https://m.thewire.in/article/rights/kafeel-khan-arrest-cases-timeline#:~:text=The%20FIR%20was%20filed%20under,Security%20Act%20invoked%20against%20Khan.
    
38. Rewriting history to enforce hindu nationalism. https://www.codastory.com/disinformation/india-reframing-history/
    
39. Shutting up free speech. https://www.thehindubusinessline.com/opinion/columns/from-the-viewsroom/shutting-up-free-speech/article32868339.ece
    
40. Unfair reporting. https://foreignpolicy.com/2020/11/27/why-india-has-become-a-different-country/
    
41. Kashmir votes India hails. https://www.nytimes.com/2020/12/22/world/asia/kashmir-modi-election.html
    
42. Recession. https://www.nationalheraldindia.com/india/six-years-of-modi-govts-rule-has-led-indian-economy-to-near-collapse
    
43. 15 Lakh scam. https://www.indiatoday.in/india/story/pm-narendra-modi-amit-shah-case-ranchi-court-election-promise-1642942-2020-02-03
    
44. Banned from the US. https://www.wsj.com/articles/SB10001424052702303380004579520041301275638
    
45. Malegaon blast; Pragya Thakur. https://www.freepressjournal.in/mumbai/malegaon-blast-case-bjps-pragya-singh-thakur-fails-to-appear-in-court-all-accused-to-now-be-present-on-dec-19
    
46. BJP youth deface the Taj Mahal. https://m.rediff.com/news/2001/oct/14bjp.htm https://www.cpim.org/content/bjp-youth-deface-taj https://zeenews.india.com/news/nation/sc-orders-probe-into-vandalism-at-taj-mahal-by-bjp-youth-wing_23299.html
    
47. Rafale scam. https://m.economictimes.com/news/defence/rafale-deal-largest-defence-scam-in-indias-history-prashant-bhushan/articleshow/66196602.cms https://www.deccanherald.com/national/national-politics/what-all-can-the-court-overlook-in-the-rafale-matter-723110.html
    
48. BJP workers stop flood relief. https://www.business-standard.com/article/news-ians/bjp-workers-not-allowing-relief-funds-collection-in-tripura-cpi-m-118082800785_1.html https://indianexpress.com/article/north-east-india/kerala-flood-relief-cpi-m-leaders-holding-donation-drive-in-tripura-attacked-bjp-denies-responsibility-5330846/
    
49. Suppressing dissent. https://www.hrw.org/news/2019/12/13/dissent-anti-national-modis-india https://www.dnaindia.com/india/report-spreading-violence-suppressing-dissent-is-bjp-s-politics-2457374
    
50. Institutional shooting. https://www.bbc.com/news/world-asia-india-51308376?ocid=socialflow_twitter
    
51. "Desh ke gaddaron ko, goli maro sa**on ko" https://www.indiatoday.in/mail-today/story/delhi-election-ec-notice-to-bjp-anurag-thakur-for-violating-code-1641085-2020-01-29
    
52. Komal Sharma. https://m.thewire.in/article/government/jnu-masked-woman-komal-sharma-abvp-delhi-police-confirm
    
53. Illegal mining scam. https://www.bbc.com/news/world-south-asia-14229386
    
54. Santanu Bhowmick's murder. https://indianexpress.com/article/north-east-india/tripura/three-years-on-slain-tripura-journalists-mother-still-waits-for-justice-6603858/
    
55. Petrol hike. https://www.indiatoday.in/india/story/rising-petrol-prices-what-narendra-modi-said-before-2014-and-his-govt-did-in-4-years-1202628-2018-04-02
    
56. Balakot airstrike. https://scroll.in/article/918686/opinion-on-balakot-and-after-real-mystery-is-how-the-indian-response-has-been-touted-as-a-triump
    
57. Reservations based on economy? Why put a price tag on education in the first place? https://www.thecitizen.in/index.php/en/NewsDetail/index/4/16030/The-Problem-with-Reservation-for-Economically-Backward-Upper-Castes
    
58. Triple talaq bill. https://feminisminindia.com/2018/07/20/muslim-men-women-opposed-triple-talaq-bill/
    
59. Kartarpur corridor. https://www.outlookindia.com/website/story/india-news-kartarpur-corridor-india-pakistan-fail-to-finalise-agreement-over-service-fee-from-pilgrims/337872
    
60. Failure of jan dhan yojana. https://mybs.in/2X8NgpK
    
61. Failure of digital India. https://www.businessinsider.in/budget-2019-has-no-allocation-for-digital-india/articleshow/67793761.cms?utm_source=google_non_
    
62. Surgical strikes. https://www.bbc.com/news/world-asia-india-37702790
    
63. Failure of make in India. https://www.outlookindia.com/website/story/opinion-make-in-india-pm-modis-flagship-programme-has-failed-to-deliver-and-numbers-show/347376
    
64. Free LPG scheme. https://www.financialexpress.com/economy/pm-narendra-modis-ujjwala-yojana-scheme-provided-lpg-access-but-failed-to-promote-its-use-says-study/1833877/ https://m.businesstoday.in/story/modi-ujjwala-lpg-scheme-faces-affordability-problem-not-availability-sbi-ecowrap/1/396361.html
    
65. Failure of UDAN scheme. https://www.indiatoday.in/india/story/pm-narendra-modi-udan-scheme-india-poor-974732-2017-05-02
    
66. Failure of startup India. https://timesofindia.indiatimes.com/blogs/yankeedoodle/why-startup-india-has-failed-how-to-fix-it
    
67. Failure of NELP. https://m.economictimes.com/the-big-story/nelp-has-failed-to-draw-attention-of-big-players/articleshow/2693981.cms?utm_source=whatsapp_pwa&utm_medium=social&utm_campaign=socialsharebuttons
    
68. Failure of hydrocarbon exploration and licensing policy. https://www.outlookindia.com/website/story/indias-new-hydrocarbon-exploration-and-licensing-policy-a-spectacular-failure/307544
    
69. Problems with insolvency and bankruptcy code. https://m.businesstoday.in/story/has-insolvency-and-bankruptcy-code-failed-homebuyers/1/361574.html
    
70. Real estate act problems. https://www.taxmanagementindia.com/visitodetail_article.asp?ArticleID=7359
    
71. Problems with pm's kisan yojana. https://m.thewire.in/article/economy/pm-kisan-farmers-instalments-modi-government
    
72. Bodo peace accord. https://www.outlookindia.com/website/story/opinion-should-we-already-celebrate-the-new-bodo-accord-bjp-modi-assam/347329
    
73. Problems with the national medical council. https://indianexpress.com/article/opinion/columns/bad-prescription-national-medical-commission-bill-5918348/
    
74. Failure of Sansad adarsh gram yojana. https://www.nationalheraldindia.com/india/scroll-journalist-booked-but-modi-govt-own-survey-says-adarsh-gram-yojana-failed-to-achieve-purpose
    
75. Failure of mega food parks. https://m.businesstoday.in/story/food-parks-in-india-fail-to-attract-corporate-investment/1/220531.html
    
76. Flaws in the mudra scheme. https://www.thehindubusinessline.com/opinion/editorial/key-flaws-in-the-mudra-scheme-need-to-be-fixed/article30141264.ece
    
77. BHIM app. https://www.livemint.com/money/personal-finance/why-bhim-is-losing-to-other-apps-in-upi-race-1556007428797.html
    
78. Failure of Atal pension yojana. https://theprint.in/opinion/two-pension-schemes-one-problem-what-modi-govt-didnt-learn/205018/
    
79. AMRUT failure. https://www.thehindubusinessline.com/economy/with-a-year-to-go-for-amrut-just-20-of-urban-facelift-projects-complete/article25972963.ece
    
80. India's groundwater problem. https://www.indiawaterportal.org/articles/india-has-groundwater-problem
    
81. The Char dham project could end up being a disaster. https://scroll.in/article/972069/road-widening-projects-in-himalayas-for-char-dham-pilgrims-could-be-a-disaster-in-making
    
82. Pm's garib kalyan anna yojana was a failure. https://www.financialexpress.com/economy/modis-free-ration-scheme-fails-to-take-off-11-states-didnt-distribute-even-1-foodgrains/2010848/
    
83. On the ultra mega solar power plants. https://www.financialexpress.com/economy/modis-free-ration-scheme-fails-to-take-off-11-states-didnt-distribute-even-1-foodgrains/2010848/
    
84. The failure of HRIDAY. https://housing.com/news/parliamentary-panel-pulls-housing-ministry-failure-utilise-funds/
    
85. Sagarmala project. https://ecologise.in/2017/05/24/sagarmala-the-rs-10-trillion-project-that-is-wrecking-indias-coast/
    
86. SAUNI project. https://timesofindia.indiatimes.com/city/ahmedabad/centre-rejects-6399-crore-demand-for-sauni-doubts-its-feasibility/articleshow/58652697.cms
    
87. E- NAM, yet another failure. https://www.youthkiawaaz.com/2020/06/solving-indias-agrarian-crisis-part-3-is-e-nam-the-solution/
    
88. DRDO. https://m.economictimes.com/news/politics-and-nation/narendra-modi-extremely-unhappy-with-drdos-failure-to-meet-deadlines-in-delivering-products/articleshow/40719955.cms
    

For many years now, I’ve been making a time capsule to document BTS’ growth from 2015 onwards. You can see all the old time capsules on this wiki page!
Without further ado, here’s BTS’ 2020 time capsule, enclosed December 26, 2020 at 12:30PM EST to be opened sometime between December 21, 2021, and December 31, 2021 (Ideally at approx the same time again ;)).

BTS

• There are seven members.
• BTS is under Big Hit Entertainment.
• Big Hit went public on the stock market, raising $840 million during the IPO, making it South Korea’s largest IPO in three years. The company is valued ~$7.5 billion. BTS hold $108 million in shares, or $15.4 million per group member. Musicians like BTS owning part of their recording company is a rarity. Bang PD’s net worth is ~$2.8 billion.

Music

• Most recent work: BE, the group's 5th Full Album
• Music show wins: Through Dynamite promotions, BTS won 27 awards on music shows, which is the most music show wins of all time (beating Boy with Luv), and gave BTS the most music show wins in history, at 123 (+counting!)
• Achievements: BTS broke a bunch of records with BE; here’s a full list. Most notably: - BE was BTS’ 5th album to debut at #1 on the Billboard 200 - Dynamite was their first #1 song on the Hot 100 and was #1 for 3 weeks (non-consecutive) - Life Goes On debuted at #1 on the Hot 100, making it BTS’ 3rd #1 debut this year (along with Dynamite and Savage Love Remix; fastest in 42 years with the BeeGees) and the first Korean language song to ever hit #1. First and only group to ever have two #1 debuts - All 7 songs from BE have charted on the Hot 100 - BTS becomes the first group in history (and ninth act overall) to simultaneously hit #1 on the Artist 100, Hot 100 and Billboard 200 -There are so many more you guys I can’t even keep track -BTS also released Map of the Soul: 7 before BE, the groups 4th full album. BE shattered most of these records, but you can see the list here
• Solo: - Agust D released his second mixtape titled “D-2”. You can see the full list of records here - JK - Still With You - Jin - Abyss - Jimin - Christmas Love - V - Sweet Night (Itaewon Class OST)
• Certifications: - MOTS: 7 is the only 2020-released RIAA certified Platinum Pop album this year - IDOL and Love Yourself: Answer have been certified Platinum, as has Map of the Soul: 7 by the RIAA - ARIA (Australia) and New Zealand certified Dynamite as platinum - Dynamite was certified Gold in many countries where it was the first time for BTS (Spain, Denmark, Italy, etc…) - Their Japanese album, ~ Map of the Soul 7: THE JOURNEY ~ has been certified triple platinum by RIAJ, the first Korean boy group in Japan to do this. It is also now the best selling Korean boy group album in Japan in history, surpassing TVXQ’s 2010 record - Dynamite was certified Platinum streaming by RIAJ, making BTS the first Korean act and second int’l act to do so, in just 3 months (the fastest song to do so)
• Collaborations: BTS has collaborated with multiple big-name artists this year, such as: - Jawsh 685 x Jason Derulo (Savage Love Remix) - MAX (Blueberry Eyes, Burn It) - Lauv (Who) - Younha (Winter Flower) - NiiHWA (28) - Kim Jong Wan (Dear My Friend) - IU (Eight) - Troye Sivan (Louder than Bombs) - Sia (ON) - Peakboy (Snow Flower by V)
• Charting: "Spring Day" becomes the first and only song in Melon history to spend 200 consecutive weeks charting inside Melon Top 100!

Awards

• 34th Golden Disk Awards: Best digital song (Bonsang), Digital music Daesang, Physical album daesang
• Seoul Music Awards: Best Album Award for Map of the Soul: Persona, Bonsang
• Billboard Music Awards: Top social artist
• MTV VMAs: Best choreography (ON), Best K-pop (ON), Best Pop (ON), Best Group
• American Music Awards: Favorite Duo or Group - Pop/rock, Top Social Artist
• Melon Music Awards: BTS won all 3 daesangs again this year, as well as many other awards
• MAMA: BTS again won every daesang, as well as many other awards
• TMA: BTS wins Daesang and other awards at The Fact music awards
• WSJ: BTS won the 2020 Wall Street Journal Music Innovator award
• BTS won Asia Society's 2020 Asia Game Changers Award
• BTS received the James A. Van Fleet Award from the KoreaSociety for promoting US-South Korean relations, which received some backlash in China

Additionally:

• BTS performed at the Grammys along with Lil Nas X in a remix stage of “Old Town Road” at the 62nd GRAMMY awards, and presented “Best R&B artist”
• BTS was nominated for Best Pop Duo/Group Performance for 'Dynamite' at the 63rd GRAMMY Awards

General News

Map of the Soul World TouConcerts

• Their worldwide tour was postponed due to the coronavirus pandemic.
• BTS held “BANG BANG CON” livestream in April for fans, playing old concert DVDs for 2 days
• BTS also held BANG BANG CON: The Live in June, performing new songs live, which broke a record by having 756K viewers of the paid concert
• BTS held a 2-day online concert, titled “Map of the Soul ON:E” in October, which 993,000 viewers from 191 countries viewed, breaking Bangbangcon’s record

Charity (new this year!)

• BTS donated $1 million dollars to #BlackLivesMatter in June, leading fans to #MatchAMillion in donations to #BLM in just over a day (including the sub’s own!)
• BTS and BigHit donate $1M to Live Nation's Crew Nation campaign to help concert crew workers affected by the coronavirus
• J-Hope donated 100 million won to the Green Umbrella Children's Foundation to assist vulnerable children, especially those who are struggling due to the Coronavirus pandemic
• RM donated 100M won to the MMCA foundation to foster a culture of reading art books and increasing artistic sensibility in youth, and received an award from the Arts Council of Korea for his donation to the MMCA
• The newly established BTS Jimin scholarship will provide a total of $92k ($33k in 2021) for three years to help foster outstanding talented students in the arts sector in South Jeolla Province, using donations by BTS member Jimin
• Suga donated 100 million won to Hope Bridge to help support those affected by the Coronavirus outbreak
• Jimin donated 100 million won to Jeonnam Future Education Foundation to aid students with outstanding abilities and talents in need
• As of March 6th 3PM KST, Korean ARMY donated approx. 505,500,000 won (aprox. 423,900 USD) for COVID-19 relief in 9 days (and I-ARMY started donating to their own countries’ relief fund!)
• BTS Microphone set raised $83,200 in auction for Musicares charity
• UNICEF Korea announced that @BTS_twt’s LOVE MYSELF Campaign won the 2020 UNICEF Inspire Award in Best Integrated Campaigns and Events category.
• BTS Fans are donating to public radio stations after NPR’s Tiny Desk Concert
• Magic Breakfast: @BTS_ARMY have donated enough to provide over 14,000 Magic Breakfasts for disadvantaged children.
• not to mention all the projects run by OIAA and other fandom collectives, like the /bangtan projects team, and all the donations BTS has done that haven’t been reported!

Other

• BTS launched a worldwide art project called “CONNECT, BTS” which aimed to connect five cities and 22 artists, each of whom contributes their unique philosophy and imagination to it. This project aimed to redefine the relationship between art and music, the material and immaterial, artists and their audiences, artists and artists, and theory and practice.
• BTS had a worldwide theatre release of Break the Silence: The Movie
• BTS appeared on Good Morning America, James Corden (Carpool Karaoke), Jimmy Fallon (had their own “BTS Week!”), The Today Show, Big Hit and Mnet’s reality show I-LAND, NPR’s Tiny Desk Concert, and Fortnite
• TIME named BTS as Entertainer of the Year 2020
• BTS’ Spotify Wrapped for this year!
• South Korea’s National Assembly passed a revision of South Korea’s Military Service Act​, colloquially called “The BTS law”. The revised law lets top K-pop stars like Jin postpone their ​military ​service until they turn 30
• The Beatles and BTS are the only groups to sell 1 million album units in 2020
• The Harvard Business review wrote an academic paper on Big Hit and BTS
• Suga had a successful surgery on his shoulder in November, and sat out of year-end award performances and BE promotions to rest
• BTS is now the best-selling artist of all time in South Korea
• Similarly, according to Gaon, BTS has sold 8,823,754 albums in 2020
• Only Five K-Pop albums have charted for a full year—and they’re all by BTS (YNWA, LY: Tear, LY: Her, LY: Answer, Face Yourself
• BTS is the first act in history to exceed 50 daesangs
• BTS is now the most viewed group of all time on YouTube, passing Maroon 5 (official videos)
• Jungkook had a minor controversy for going out to a restaurant in Itaewon during COVID with several idol friends
• BTS was featured on Esquire’s winter magazine, and Variety’s cover
• It was revealed BTS + Bang PD met the families of the Sewol Ferry victims in 2014
• BTS had CF deals like Bodyfriend, Maplestory, FILA, IONIQ (Hyundai electric cars), Lotte Duty Free, Samsung electronics/mobile, Visit Seoul, Baskin Robbins, Chilsung Cider, among others
• BTS has released a new mobile game with “Rhythm Hive”

Music Videos

(Only using 1theK’s channel, or ibighit if that’s the only place it’s uploaded)
In order of most views at the time, all in millions

2015	2016	2017	2018	2019	2020
DOPE: 36.2m views	DOPE: 119.0m	FIRE: 252.9m	DNA: 574.9m	DNA: 892.1m	DNA: 1.1b
BiL: 32.0m	FIRE: 90.9m	DOPE: 247.6m	FIRE: 467.9m	BwL: 651.5m	BWL: 1b
Danger: 24.5m	BiL: 81.4m	BST: 231.2m	FL: 406.3m	FIRE: 632.9m	FL: 837m
INU: 23.3m	BST: 72.5m	DNA: 214.9m	DOPE: 405.1m	FL: 629.9m	MDR: 818m
WoH: 22.5m	Save ME: 58.4m	Not Today: 174.5m	MDR: 399.6m	MDR: 600.7m	IDOL: 816m
(No Data)	Danger: 54.6m	BiL: 173.4m	BST: 385.6m	IDOL: 592.4m	Dynamite: 725m

Social Media

Instagram

-	2015	2016	2017	2018	2019	2020
Most Recent	X	X	X	X	X	X
Followers	541.000	2.2 million	7.6 million	14.7 million	21.7 million	35.3 million

Twitter

-	2015	2016	2017	2018	2019	2020
Most Recent @BTS_twt	X	X	X	X	X	X
Most Recent @BTS_bighit	X	X	X	X	X	X
Most recent #김데일리 (#KimDaily)	X	X	X	X	X	X
Followers	1.6 million	3.96 million	11.4 million	17.4 million	23.2 million	31.6 million

^{Note: RM doesn’t really use the #KimDaily hashtag anymore, but he still takes pics that look exactly like them.}
Soundcloud

-	2015	2016	2017	2018	2019	2020
Most Recent	X	X	X	X*	X	X

^{*Plus some Japanese releases.}
V Live

-	2015	2016	2017	2018	2019	2020
Most Recent	X	X	X	X	X	X
Followers	1.5 million	3.7 million	7.1 million	11.7 million	16.6 million	24.5 million

Eat JIN

-	2015	2016	2017	2018	2019	2020
Most Recent	X*	X	X	X	X	X

^{*151220 Eat Jin in case it's taken down}
Hope on the Street

-	2015	2016	2017	2018	2019	2020
Most Recent	X	X	X	X	X	X

YouTube

-	2015	2016	2017	2018	2019	2020
Most Recent Bangtan Bomb	X	X	X	X	X	X
BANGTANTV Subscribers	1.1 million	2.5 million	5.5 million	13.8 million	24.2 million	42.6 million

Fancafe

-	2015	2016	2017	2018	2019	2020
Daum	195.548	405k	698k	1.2 million	1.5 million	1.5 million
Weverse	-	-	-	-	2.8 million	8.3 million

Weibo

-	2015	2016	2017	2018	2019	2020
Most Recent	-	X	X	X	X	X
Followers	-	755k	1.1 million	3.4 million	4.7 million	5.6 million

Spotify

-	2015	2016	2017	2018	2019	2020
Monthly Listeners	-	-	8.7 million	9.8 million	13.6 million	31.8 million
Followers	-	-	2.7 million	8.1 million	15.2 million	26.6 million

TikTok

-	2015	2016	2017	2018	2019	2020
Followers	-	-	-	-	6.5 million	26.3 million
Most Recent	-	-	-	-	x	X

Subreddit

-	2015	2016	2017	2018	2019	2020
Subscribed	970	5.411	17.689	44.122	93.160	178k
Online	16	74	375	541	745	825
Top of All Time	BTS Run MV by beepingsheep with 66 upvotes (Screenshot of top 6)	Blood, Sweat & Tears MV by mllelingling with 459 upvotes (Screenshot of top 6)	DNA MV by FFED00 with 1.358 upvotes (Screenshot of top 6)	Fake Love MV by JJJJAKE1 with 2.334 upvotes (Screenshot of top 6)	BTS (방탄소년단) '작은 것들을 위한 시 (Boy With Luv) feat. Halsey’ Official MV by _lish_ with 2,966 upvotes (Screenshot of top 6)	Agust D - Daechwita MV by hyperkid137 with 3.9k upvotes (Screenshot of top 6)
Today's 'Hot' Page	X	X	X	X	X	X
Most Recent BTS Projects	-	Rice Wreaths for V	Jimin’s Birthday Project*	Jimin’s Birthday Project**	X	X

^{*Jin & V’s Birthday gifts were on the way - and the secret santa + census was being processed! **Ongoing: Secret Santa, Census, Jin + V’s Birthdays}
There are definitely some mistakes/things I missed in this crazy year, so please do let me know if I need to add or change anything!

What is Red Light Holland Corp?

• Red Light Holland engages in the production, cultivation, and sale of magic truffles to the legal recreational market in the Netherlands. It sells its products under the iMicrodose brand name through smart shops operators and an advanced e-commerce platform, iMicrodose.nl
• In accordance with the highest standards, in compliance with all applicable laws.
• Red Light Holland is strategically based in the Netherlands, an area with a long-standing, established legal magic truffles market.

​
What sets Red Light Holland apart from competition?

• Unique approach of recreational market first, medicinal after. The medicinal route requires large amounts of capital and time to acquire the data needed for an FDA approval. Red Light Holland plans to be IN STORES and is currently generating revenue with their iMicrodose product online and in smart shops in Netherlands.
• EU GMP Facility Red Light Holland is starting to build out its potential EU-GMP facility which aims to pioneer and lead EU-GMP in the naturally occurring PSILOCYBIN category with the strictest legal compliance measures.
  • a proposed plan to seek a EU-GMP certification for its production facility in the Netherlands in order to also produce and supply medical grade, EU-GMP certified premium magic truffles within the Netherlands (in addition to a non-EU-GMP grade of premium magic truffles), in a clean room facility.
  • This is the beginning of entering into the medicinal side of things.
• Red Light Holland ‘s management and advisory members are comprised of a core group of highly skilled individuals with the wealth of combined knowledge and experience (relating to growing, mass-producing, compliance, distributing, marketing and managing, etc.) necessary to help fix Red Light Holland as a leader in this early-stage, emerging field.
  • Todd Shapiro (CEO)
    • after being a top rated Radio Show host & a brilliant Marketing Entrepreneur with over 20 years of experience, he has recently moved on from mainstream media to concentrate his efforts on being the CEO of Red Light Holland.
    • Shapiro also has an incredible history as one of North America's most professional & effective Brand Ambassadors and Influencers having worked with Canopy Growth, Samsung, Canada Goose, Canadian Tire & Boveda Inc.
  • Russell Peters (CCO)
    • Russell Peters was recently named as one of Rolling Stone’s 50 Best Comics of All Time. He started doing stand-up at the age of nineteen at open mics in his native Toronto, and spent the next fifteen years honing his craft at clubs across Canada and the UK. In 2004, Peters gained critical and global recognition for his CTV “Comedy Now!” special and soon became the first comedian to sell-out Toronto’s Air Canada Centre in 2007. Peters went on to set attendance records at venues from Madison Square Garden to the Sydney Opera House to London’s O2 Arena – where he broke the UK attendance record for highest number of tickets sold for an individual comedy show.
    • Peters has been awarded Gemini, Peabody, Emmy and Canadian Screen Awards for his hosting, producing and acting talents. His last TV series, the Indian Detective set a Canadian viewership record for Bell Media /CTV in 2017 and was released globally on Netflix.
  • Hans Derix (President)
    • Hans is a certified Substance Abuse therapist (APCB) and member of the Association of Addiction Professionals (NAADAC) with over a decade of experience in the field of addiction treatment. He is the founder and managing director of Sensum, Asia’s first and only addiction treatment provider specialized in round-the-clock, one on one, in-home rehab services.
    • As a founding member of the New Life Foundation and former, senior member of Asia’s largest rehab center the Cabin, Hans has been instrumental in promoting third wave, mindfulness based therapies to the field of addiction recovery in Asia. Hans recognizes the huge potential of natural remedies, including magic truffles, in treating individuals suffering from mental health disorders such as addiction. He is a strong advocate of further, clinical research and his aim is to achieve such with Red Light Holland.
    • Hans was born and raised in the south of Holland in an area known for its mushroom production. He is very well connected within the Netherlands psychedelia community.
  • Bruce Linton (Chair of Advisory Board)
    • Founder & former Chairman, CEO and Co-CEO of Canopy Growth Corporation (CGC) formerly Tweed Marijuana Incorporated, a cannabis company based in Smiths Falls, Ontario, Canada. Bruce founded Tweed in 2013 and renamed it Canopy Growth Corporation in 2015. Canopy Growth Corporation was the first cannabis company in North America to be listed on a major stock exchange (TSX-V in April 2014 and TSX in July 2016) and to be included on a major stock index (S&P/TSX Composite Index in March 2017). Bruce led CGC from a TSX-V listed start-up company with an $80 million market cap to a NYSE/TSX listed company (S&P/TSX60) including more than 30 M&A activities. Ranking number one on the TSX30 with a market cap of over $20 billion by the summer of 2019.
    • Bruce’s experience as a founder, CEO, and board member across a diversity of sectors was a huge influence for the success of CGC. Earning market support for capital raises of over $6 billion in public capital markets and private placements, the company funded capacity growth and opened new markets, including a $5 billion CAD investment by Fortune 500 beverage company, Constellation Brands (NYSE:STZ).

​
Why are a radios show host and comedian starting a psychedelic company?
Im sure many are wondering why Todd Shapiro and Russell Peters are important factors and why they are management of a psychedelic focused company. The simple answer is they are marketing geniuses. Both Todd and Russell have built a brand out of themselves and have incredible expertise in marketing. Russell Peters has 4M twitter followers, an absolute massive following. Todd has had an extensive career in the radio show business and has his own SiriusXM show.
They are targeting the adult recreational market with a small, legal micro dose kit. Marketing this kit will be essential to their success as it needs to be appealing and gain traction within the public audience. Having outside-the-box thinking heads working together to create a uniquely special niche product will prove to be a game changer.
"Red Light Holland’s goal is to, over time, help make the relatively unknown ‘magic truffle’ a familiar name across the world. We are currently setting up to grow, distribute and market a premium brand of magic truffles to the legal, recreational market within the Netherlands, and we can't wait to shift the existing paradigm to direct further attention to the legal and responsible use of magic truffles.“ -Todd Shapiro CEO, Red Light Holland
​
Red Light Holland Verticals and Products

• Red Light Holland intends to, in the future, establish Scarlette Lillie Science and Innovation, a business segment to supplement its core business. Scarlette Lillie Science and Innovation's goal will be to supply the medical market, with naturally occurring, nonsynthetic psilocybin as current research shows clinical trials are using a synthetic pro-drug compound. Red Light Holland hopes to explore the entourage effect of whole fungi medicine and to establish itself as a pioneering company with the capability to grow medical grade truffles which will potentially help discover more about the entire psilocybin Truffle.
• Red Light Holland has developed iMicrodose, a non-synthetic premium truffle microdosing kit to promote responsible use. Microdosing involves taking a much smaller dose on a scheduled routine, compared to that of a recreational dose. The magic truffles are sold in their natural, raw and unprocessed form, and need to be refrigerated prior to use. the iMicrodose kits are currently only available for purchase in the Netherlands.
• Red Light Holland has released a line of custom merchandise for supporters and fans to enjoy globally. Merch includes Red Light Holland branded; Toques, fitted hats, trucker hats and baseball jerseys. Most merch items are printed with the company logo, name and ticker symbol ($TRIP) and will be available fo purchase through the company website .
  • Why is merch important? INSTANT REVENUE. Selling something as simple as merch is an easy stream of income for a company looking to expand. This is something unique about Red Light Holland that almost all other psychedelic comapanies have not done yet.

Financials

• Total Common Shares Outstanding (Fully Diluted): 289,923,964
• Float: 192.09M
• Market Capitalization: $92.37M
• Share Price: $0.41

​
Future Growth
The legal psilocybin market is expected to reach$7 billion by 2027. I personally think this is a rather conservative estimate and as we advance in research, we will begin to see the full potential psychedelics could provide to the medical field (PTSD, addiction disorders, anxiety, eating disorders, depression, ADD/ADHD, migraines, etc.)
Microdosing is a popular trend and is continuing to gain traction.

• Psychedelics for Breakfast: The rise of microdosing
• Psychedelic Microdose benefits and challenges
• Microdosing’s Micromoment Consuming crumb-size amounts of psychedelics — not to get high but to feel more focused and creative and present — has moved a tiny bit mainstream.
• Microdosing is trendy, but does it work?

​
Risks
The fate of this company lies in the hands of governments around the world to create a legal, recreational marketplace for adult psychedelic use. Although this subject is gaining traction everyday, it will take time and science to prove the worthiness. Luckily, Netherlands recreational truffle market is already legal and operating currently.
I have not been able to find the balance sheet and do not know current debt, revenue, or cash-on-hand numbers. As soon as i find that information I plan to add it in an edit.
Recent News

1. The first-ever psychedelics ETF will launch next week, backed by a Canadian fund manager
2. Red Light Holland Engages Graham Pechenik, Respected Patent and IP Lawyer and Editor-at-Large of Psilocybin Alpha, as Senior Advisor to Advisory Board
3. Red Light Holland To Make Groundbreaking Investment in St. Vincent and the Grenadines' Plant-Based Wellness and Psychedelics Industry
4. Red Light Holland Commences Growing 1,000,000 Grams of Magic Truffles

Conclusion
With Red Light Holland beginning operations in an already legal market, this gives them the ability to establish their brand before going global since their isn't a global market, YET... and Unlike most psychedelic stocks, Red Light Holland does not have to burn cash like crazy up front to fund pre-clinical/clinical trials to acquire the data needed for FDA Approval. Their capital goes directly into marketing their iMicrodose Kit, expanding production capabilities, and potential M&A possibilities. The unique approach this company is taking, along with the strategic assembly of the management and advisory board is why I plan to hold a small position long term 5-10% of my portfolio.
My position: 2250 shares @ $0.37
​
This is not financial advice. Penny stocks are extremely volatile and risky. Only risk what you are willing to lose! Please do not use this DD as conviction, do your own research!

What is Red Light Holland Corp?

• Red Light Holland engages in the production, cultivation, and sale of magic truffles to the legal recreational market in the Netherlands. It sells its products under the iMicrodose brand name through smart shops operators and an advanced e-commerce platform, iMicrodose.nl
• In accordance with the highest standards, in compliance with all applicable laws.
• Red Light Holland is strategically based in the Netherlands, an area with a long-standing, established legal magic truffles market.

​
What sets Red Light Holland apart from competition?

• Unique approach of recreational market first, medicinal after. The medicinal route requires large amounts of capital and time to acquire the data needed for an FDA approval. Red Light Holland plans to be IN STORES and is currently generating revenue with their iMicrodose product online and in smart shops in Netherlands.
• EU GMP Facility Red Light Holland is starting to build out its potential EU-GMP facility which aims to pioneer and lead EU-GMP in the naturally occurring PSILOCYBIN category with the strictest legal compliance measures.
  • a proposed plan to seek a EU-GMP certification for its production facility in the Netherlands in order to also produce and supply medical grade, EU-GMP certified premium magic truffles within the Netherlands (in addition to a non-EU-GMP grade of premium magic truffles), in a clean room facility.
  • This is the beginning of entering into the medicinal side of things.
• Red Light Holland ‘s management and advisory members are comprised of a core group of highly skilled individuals with the wealth of combined knowledge and experience (relating to growing, mass-producing, compliance, distributing, marketing and managing, etc.) necessary to help fix Red Light Holland as a leader in this early-stage, emerging field.
  • Todd Shapiro (CEO)
    • after being a top rated Radio Show host & a brilliant Marketing Entrepreneur with over 20 years of experience, he has recently moved on from mainstream media to concentrate his efforts on being the CEO of Red Light Holland.
    • Shapiro also has an incredible history as one of North America's most professional & effective Brand Ambassadors and Influencers having worked with Canopy Growth, Samsung, Canada Goose, Canadian Tire & Boveda Inc.
  • Russell Peters (CCO)
    • Russell Peters was recently named as one of Rolling Stone’s 50 Best Comics of All Time. He started doing stand-up at the age of nineteen at open mics in his native Toronto, and spent the next fifteen years honing his craft at clubs across Canada and the UK. In 2004, Peters gained critical and global recognition for his CTV “Comedy Now!” special and soon became the first comedian to sell-out Toronto’s Air Canada Centre in 2007. Peters went on to set attendance records at venues from Madison Square Garden to the Sydney Opera House to London’s O2 Arena – where he broke the UK attendance record for highest number of tickets sold for an individual comedy show.
    • Peters has been awarded Gemini, Peabody, Emmy and Canadian Screen Awards for his hosting, producing and acting talents. His last TV series, the Indian Detective set a Canadian viewership record for Bell Media /CTV in 2017 and was released globally on Netflix.
  • Hans Derix (President)
    • Hans is a certified Substance Abuse therapist (APCB) and member of the Association of Addiction Professionals (NAADAC) with over a decade of experience in the field of addiction treatment. He is the founder and managing director of Sensum, Asia’s first and only addiction treatment provider specialized in round-the-clock, one on one, in-home rehab services.
    • As a founding member of the New Life Foundation and former, senior member of Asia’s largest rehab center the Cabin, Hans has been instrumental in promoting third wave, mindfulness based therapies to the field of addiction recovery in Asia. Hans recognizes the huge potential of natural remedies, including magic truffles, in treating individuals suffering from mental health disorders such as addiction. He is a strong advocate of further, clinical research and his aim is to achieve such with Red Light Holland.
    • Hans was born and raised in the south of Holland in an area known for its mushroom production. He is very well connected within the Netherlands psychedelia community.
  • Bruce Linton (Chair of Advisory Board)
    • Founder & former Chairman, CEO and Co-CEO of Canopy Growth Corporation (CGC) formerly Tweed Marijuana Incorporated, a cannabis company based in Smiths Falls, Ontario, Canada. Bruce founded Tweed in 2013 and renamed it Canopy Growth Corporation in 2015. Canopy Growth Corporation was the first cannabis company in North America to be listed on a major stock exchange (TSX-V in April 2014 and TSX in July 2016) and to be included on a major stock index (S&P/TSX Composite Index in March 2017). Bruce led CGC from a TSX-V listed start-up company with an $80 million market cap to a NYSE/TSX listed company (S&P/TSX60) including more than 30 M&A activities. Ranking number one on the TSX30 with a market cap of over $20 billion by the summer of 2019.
    • Bruce’s experience as a founder, CEO, and board member across a diversity of sectors was a huge influence for the success of CGC. Earning market support for capital raises of over $6 billion in public capital markets and private placements, the company funded capacity growth and opened new markets, including a $5 billion CAD investment by Fortune 500 beverage company, Constellation Brands (NYSE:STZ).

​
Why are a radios show host and comedian starting a psychedelic company?
Im sure many are wondering why Todd Shapiro and Russell Peters are important factors and why they are management of a psychedelic focused company. The simple answer is they are marketing geniuses. Both Todd and Russell have built a brand out of themselves and have incredible expertise in marketing. Russell Peters has 4M twitter followers, an absolute massive following. Todd has had an extensive career in the radio show business and has his own SiriusXM show.
They are targeting the adult recreational market with a small, legal micro dose kit. Marketing this kit will be essential to their success as it needs to be appealing and gain traction within the public audience. Having outside-the-box thinking heads working together to create a uniquely special niche product will prove to be a game changer.
"Red Light Holland’s goal is to, over time, help make the relatively unknown ‘magic truffle’ a familiar name across the world. We are currently setting up to grow, distribute and market a premium brand of magic truffles to the legal, recreational market within the Netherlands, and we can't wait to shift the existing paradigm to direct further attention to the legal and responsible use of magic truffles.“ -Todd Shapiro CEO, Red Light Holland
​
Red Light Holland Verticals and Products

• Red Light Holland intends to, in the future, establish Scarlette Lillie Science and Innovation, a business segment to supplement its core business. Scarlette Lillie Science and Innovation's goal will be to supply the medical market, with naturally occurring, nonsynthetic psilocybin as current research shows clinical trials are using a synthetic pro-drug compound. Red Light Holland hopes to explore the entourage effect of whole fungi medicine and to establish itself as a pioneering company with the capability to grow medical grade truffles which will potentially help discover more about the entire psilocybin Truffle.
• Red Light Holland has developed iMicrodose, a non-synthetic premium truffle microdosing kit to promote responsible use. Microdosing involves taking a much smaller dose on a scheduled routine, compared to that of a recreational dose. #e magic truffles are sold in their natural, raw and unprocessed form, and need to be refrigerated prior to use. the iMicrodose kits are currently only available for purchase in the Netherlands.
• Red Light Holland has released a line of custom merchandise for supporters and fans to enjoy globally. Merch includes Red Light Holland branded; Toques, fitted hats, trucker hats and baseball jerseys. Most merch items are printed with the company logo, name and ticker symbol ($TRIP) and will be available fo purchase through the company website .
  • Why is merch important? INSTANT REVENUE. Selling something as simple as merch is an easy stream of income for a company looking to expand. This is something unique about Red Light Holland that almost all other psychedelic comapanies have not done yet.

Financials

• Total Common Shares Outstanding (Fully Diluted): 289,923,964
• Float: 192.09M
• Market Capitalization: $92.37M
• Share Price: $0.41

​
Future Growth
The legal psilocybin market is expected to reach$7 billion by 2027. I personally think this is a rather conservative estimate and as we advance in research, we will begin to see the full potential psychedelics could provide to the medical field (PTSD, addiction disorder, anxiety, eating disorder, depression, etc.)
Microdosing is a popular trend and is continuing to gain traction.

• Psychedelics for Breakfast: The rise of microdosing
• Psychedelic Microdose benefits and challenges
• Microdosing’s Micromoment Consuming crumb-size amounts of psychedelics — not to get high but to feel more focused and creative and present — has moved a tiny bit mainstream.
• Microdosing is trendy, but does it work?

​
Risks
The fate of this company lies in the hands of governments around the world to create a legal, recreational marketplace for adult psychedelic use. Although this subject is gaining traction everyday, it will take time and science to prove the worthiness. Luckily, Netherlands recreational truffle market is already legal and operating currently.
I have not been able to find the balance sheet and do not know current debt, revenue, or cash-on-hand numbers. As soon as i find that information I plan to add it in an edit.
Recent News

1. The first-ever psychedelics ETF will launch next week, backed by a Canadian fund manager
2. Red Light Holland Engages Graham Pechenik, Respected Patent and IP Lawyer and Editor-at-Large of Psilocybin Alpha, as Senior Advisor to Advisory Board
3. Red Light Holland To Make Groundbreaking Investment in St. Vincent and the Grenadines' Plant-Based Wellness and Psychedelics Industry
4. Red Light Holland Commences Growing 1,000,000 Grams of Magic Truffles

Conclusion
With Red Light Holland beginning operations in an already legal market, this gives them the ability to establish their brand before going global since their isn't a global market, YET... and Unlike most psychedelic stocks, Red Light Holland does not have to burn cash like crazy up front to fund pre-clinical/clinical trials to acquire the data needed for FDA Approval. Their capital goes directly into marketing their iMicrodose Kit, expanding production capabilities, and potential M&A possibilities. The unique approach this company is taking, along with the strategic assembly of the management and advisory board is why I plan to hold a small position long term 5-10% of my portfolio.
My position: 2250 shares @ $0.37
​
This is not financial advice. Penny stocks are extremely volatile and risky. Only risk what you are willing to lose! Please do not use this DD as conviction, do your own research!