A trader

Trader at heart just love the technicals. Living in Medellin and loving life!!

[A trader @1flaguy]

@CSchlauf Press release!! AUM

[Curtis Schlaufman @CSchlauf]

Roughly $13 million in trading activity across Valour’s ETPs to start the week. AUM is now around $625 million, up 57% from a cycle low of $397.2 million in early June, supported in part by roughly $40 million in inflows year to date.

The underlying business has continued to grow despite claims on this platform that it was dead. We look forward to proving the naysayers wrong once again, just as we did after the 2022/23 bear market. $DEFT

[A trader @1flaguy]

@CSchlauf Let’s GO!!!

[A trader @1flaguy]

@CSchlauf Upward and onward!!! Go $DEFT

[A trader @1flaguy]

@CSchlauf Great information

[Curtis Schlaufman @CSchlauf]

👇🏼 $DEFT

[A trader @1flaguy]

@ZTheTrader For the moment, it seems like we can buy weakness.

[A trader @1flaguy]

@CSchlauf @Forson Could you tell us how much stock was bought back if any?

[Russell Starr @Russ_N_Starr]

🚨 One of the biggest misreads in small-cap markets right now:

The “$39M loss” for @streamex $STEX narrative is completely wrong.

Here’s the reality 👇

Reported loss: ~$39M

But that includes:
• ~$15M stock comp (non-cash)
• ~$2–3M amortization (non-cash)
• ~$10M accounting/derivative noise
• Legacy BSGM carry-forward
Strip that out:
👉 Real loss: ~$(8M)
Now look at the actual situation:
• Cash burn: ~$8M
• Cash on hand: ~$48M USD

👉 ~6 YEARS of runway

Now the part no one is modeling:

If #GLDY generates ~3.5% APY…

👉 Break-even AUM = ~$230M
That’s it.

This isn’t a distressed company.

It’s a pre-revenue platform being mispriced off accounting optics.

@Streamex @EricBalchunas @JSeyff
@BitwiseInvest @BlackRock
@RobinhoodApp @coinbase
@ARKInvest @CathieDWood
@SECGov @federalreserve @henrymcphie_ @MLekstrom @Frank_Giustra

#Gold #GLD #IAU #GLDY #ETF #Tokenization #Crypto #Bitcoin #DeFi #TradFi #CapitalMarkets #Macro #Investing #Finance #Yield #AUM

[Curtis Schlaufman @CSchlauf]

These numbers will appear in the audited financial statements. Record IFRS revenue and profitability for the company in 2025.

EPS for FY 2025: $0.18
Consensus: $0.13

A BEAT.

Balance Sheet: $178.7 million
Revenue: $99.1m
Net Income: $62.7m

Current market cap is ~$210m.

Implied enterprise value is ~$30m for a business that just did about ~$100m in revenue and over $60m in operating income with zero debt. Show me a cheaper company, public or private. $DEFT

[Russell Starr @Russ_N_Starr]

Serious question:

If gold suddenly:
• traded 24/7
• paid ~3.5%
• was fully backed + redeemable
👉 What SHOULD that be worth relative to traditional gold products?
No narratives. Just logic.

[Russell Starr @Russ_N_Starr]

🧠🧵 Lessons from the Front Lines: Wall/Bay Street’s Darker Side (1/2)

If a predatory hedge fund is leaning on a stock hard 📉

You should always ask one question:

👉 What are they trying to stop you from noticing?

Because in my experience…

The most aggressive pressure shows up right before
the market understands something big.
👇

I worked at the same firm as @Frank_Giustra —
one of the most successful resource financiers of our generation.

He helped build #WheatonRiverMinerals → #Goldcorp
A deal that created billions in value.
He doesn’t need to take risk.
He chooses to.

And today, he is:
• an insider of @streamex
• an advisor
• and a committed believer

So let’s be very clear:
People like that don’t get involved
unless they see something massively asymmetric.

Yet…

👉 The stock is under pressure
👉 The product is misunderstood
👉 And most investors haven’t connected the dots
That combination?
That’s where the opportunity usually is.

(2/2) 👇

#GLDY #Gold #Streamex #MarketStructure #ShortSelling #AsymmetricReturns #BayStreet #WallStreet #Investing #Macro #PreciousMetals #Disruption

[A trader @1flaguy]

Stats don’t lie.

[A trader @1flaguy]

@trader2179 I won’t take credit for the statistics, but here they are. I am with you, David buying any weakness the lower we go the better it is.

[A trader @1flaguy]

@trader2179 Me also will add all the way down… 6000? 5700…

[Russell Starr @Russ_N_Starr]

🧠🧵 LESSONS FROM THE FRONT LINES: WALL/BAY STREET’S DARKER SIDE - how a Canadian Hedge Fund stole premium assets from Gryphon Gold, Klondex and other mining companies

All statements below are derived from court-filed materials, evidentiary submissions, and verified regulatory actions.

1/
🚨 THIS WAS ALREADY IN THE COURTS

Following BC Supreme Court proceedings (Feb 10–12, 2026):
• 📄 8,000+ pages of sworn evidence
• ⚖️ formal testimony entered into record
• 📊 30+ expert reports submitted

👉 This became a formal evidentiary record — not a theory

2/
📂 That record confirms submissions made to:
• 🇨🇦 RCMP GTA-IMET
• 🇺🇸 U.S. Department of Justice
• 🧾 Big 4 auditors
👉 This crossed jurisdictional boundaries

3/
⚠️ WHAT THE COURT-FILED RECORD ALLEGES:

• Public mining companies lost core assets
• During periods of structured financing
• While counterparties were positioned against equity

👉 Filed allegations supported by expert analysis
4/
💣 THE STRUCTURE DESCRIBED IN EXPERT MATERIALS:

• 💰 Capital via convertibles / structured deals
• 📉 Sustained market selling pressure
• 🧬 Dilution cycles triggered
• 🪨 Result: asset displacement
👉 An asymmetric model described in filings
5/
📊 The evidentiary record also references:

• ❗ settlement failures (FTDs)
• 🕵️ masked identifiers (“Anonymous (001)”)
• 📉 concentrated selling activity

👉 Derived from expert reports submitted to court

6/
📄 The filings also reference:
A PwC forensic report (April 28, 2015) tied to
Waterton-related bankruptcy proceedings

👉 Raising questions around prior disclosure and oversight
7/
🧠 THE CRITICAL BREAKPOINT:
After this entered the court record —

The filings indicate:
• formal submissions already made
• enforcement bodies notified
• escalation attempts documented

8/
🚨 🧠🧵 LESSONS FROM THE FRONT LINES: WALL/BAY STREET’S DARKER SIDE

All statements below are derived from court-filed materials, evidentiary submissions, and verified regulatory actions.

1/
🚨 THIS WAS ALREADY IN THE COURTS

Following BC Supreme Court proceedings (Feb 10–12, 2026):
• 📄 8,000+ pages of sworn evidence
• ⚖️ formal testimony entered into record
• 📊 30+ expert reports submitted

👉 This became a formal evidentiary record — not a theory

2/
📂 That record confirms submissions made to:
• 🇨🇦 RCMP GTA-IMET
• 🇺🇸 U.S. Department of Justice
• 🧾 Big 4 auditors
👉 This crossed jurisdictional boundaries

3/
⚠️ WHAT THE COURT-FILED RECORD ALLEGES:

• Public mining companies lost core assets
• During periods of structured financing
• While counterparties were positioned against equity

👉 Filed allegations supported by expert analysis
4/
💣 THE STRUCTURE DESCRIBED IN EXPERT MATERIALS:

• 💰 Capital via convertibles / structured deals
• 📉 Sustained market selling pressure
• 🧬 Dilution cycles triggered
• 🪨 Result: asset displacement
👉 An asymmetric model described in filings
5/
📊 The evidentiary record also references:

• ❗ settlement failures (FTDs)
• 🕵️ masked identifiers (“Anonymous (001)”)
• 📉 concentrated selling activity

👉 Derived from expert reports submitted to court

6/
📄 The filings also reference:
A PwC forensic report (April 28, 2015) tied to
Waterton-related bankruptcy proceedings

👉 Raising questions around prior disclosure and oversight
7/
🧠 THE CRITICAL BREAKPOINT:
After this entered the court record —

The filings indicate:
• formal submissions already made
• enforcement bodies notified
• escalation attempts documented

8/
🚨 AND THEN — NOTHING VISIBLE

According to the record:
• no substantive enforcement response
• no public resolution
• investigation activity not advanced publicly

👉 The enforcement trail appears to have stalled
9/
⚖️ A structural issue raised in filings:
CIRO described in court-referenced material as:
→ a private entity
→ owned by market participants
👉 Raises regulatory independence questions

10/
🔁 The filings describe a potential:

“STRUCTURAL RELIANCE LOOP”

Where:
• participants
• auditors
• regulators
operate within the same ecosystem

11/
🌍 Meanwhile — elsewhere:
🇺🇸 U.S.:
• SEC sanctioned Anson Funds (2024)
• Findings: coordination with activist short publishers + trading around reports
🇺🇸 DOJ:
• broader probe into short selling practices

👉 Enforcement exists — just not here

12/
📌 So the contrast becomes clear:

• documented submissions in Canada
• court-filed evidentiary record
• regulator awareness
vs.

• limited visible enforcement response
13/
🚨 WHY THIS MATTERS NOW:

Independent parties — without issuer conflicts — can:

• reinforce regulator requests
• submit aligned evidence
• build affidavit-grade records

👉 This increases pressure exponentially
14/
🔥 Once multiple independent submissions align:

• evidentiary weight compounds
• institutional response becomes harder to avoid

👉 This is how issues move from
ignored → unavoidable
15/
💥 THIS IS NO LONGER JUST A MARKET ISSUE
It’s about:
• oversight
• accountability
• system integrity
16/
❓ THE QUESTION NOW IS SIMPLE:

The record existed.
The submissions were made.

So why did nothing happen?

#BayStreet #MarketStructure #ShortSelling #Canada #Mining #CIRO #CapitalMarkets #FTD

According to the record:
• no substantive enforcement response
• no public resolution
• investigation activity not advanced publicly

👉 The enforcement trail appears to have stalled
9/
⚖️ A structural issue raised in filings:
CIRO described in court-referenced material as:
→ a private entity
→ owned by market participants
👉 Raises regulatory independence questions

10/
🔁 The filings describe a potential:

“STRUCTURAL RELIANCE LOOP”

Where:
• participants
• auditors
• regulators
operate within the same ecosystem

11/
🌍 Meanwhile — elsewhere:
🇺🇸 U.S.:
• SEC sanctioned Anson Funds (2024)
• Findings: coordination with activist short publishers + trading around reports
🇺🇸 DOJ:
• broader probe into short selling practices

👉 Enforcement exists — just not here

12/
📌 So the contrast becomes clear:

• documented submissions in Canada
• court-filed evidentiary record
• regulator awareness
vs.

• limited visible enforcement response
13/
🚨 WHY THIS MATTERS NOW:

Independent parties — without issuer conflicts — can:

• reinforce regulator requests
• submit aligned evidence
• build affidavit-grade records

👉 This increases pressure exponentially
14/
🔥 Once multiple independent submissions align:

• evidentiary weight compounds
• institutional response becomes harder to avoid

👉 This is how issues move from
ignored → unavoidable
15/
💥 THIS IS NO LONGER JUST A MARKET ISSUE
It’s about:
• oversight
• accountability
• system integrity
16/
❓ THE QUESTION NOW IS SIMPLE:

The record existed.
The submissions were made.

So why did nothing happen? Make your own judgement but with overwhelming evidence the Canadian regulators, RCMP and Courts dropped the proceeding as witnesses dropped out or were fired.

#BayStreet #MarketStructure #ShortSelling #Canada #Mining #CIRO #CapitalMarkets #FTD

@kshaughnessy2 @RealAndyLeeShow @zsaeed @_cvpaynes___ @rogerhamilton @CTVNews @CBCNews @zsaeed

[Russell Starr @Russ_N_Starr]

Buy $STEX

[Russell Starr @Russ_N_Starr]

I love this company. And the valuation of $DEFT is ridiculous. But when you go silent for months. Have little to no investor outreach, and disallow any responses to your twitter feed and only talk about corporate conferences, people lose interest and start looking for other ideas. You become an opportunity cost. Even though $DEFT is now trading below their cash flow on an EV basis, it has become dead money. Curtis is amazing but he is one person in NA. The entire management and operations are in Europe. Add all this together and you get capitulation
@jhnwtt @Forson

[Curtis Schlaufman @CSchlauf]

$DEFT End of Q3 Balance Sheet: $210m
Revenue through Q3: $80m

Let’s say balance sheet is $175m as of the end of 2025 since treasury coins and venture portfolio are down in correlation with the fall in crypto prices.

Current market cap is ~$220m.

Implied enterprise value is ~$45m for a business that is going to do about ~$100m in revenue and over $50m in operating income with zero debt…so the business is trading at a 2x 2025 revenue multiple when peer companies get a baseline of 12-15x and some over 30x.

[A trader @1flaguy]

@MrTopStep Nice day