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The latest financial information for LEAP seems to be still- "Virtual sports and casino game developer Leap Gaming has seen gross gaming revenue rise 123% for the opening five months of 2020, with the business now expecting to post a profit in the third quarter of the year.22 Jun 2020 igamingbusiness.com › leap-gaming... Leap Gaming expects to post maiden profit in Q3 2020 ..." It is now January 2021 and there has been no further financial information since last update over six months ago?
My previous post is very much about accountabilty and not negativity and I am still remaining very postive about FFWD moving forward .......
Looking at six months interim results to 30th September 2020 the cash on hand was reduced by some 1.1 million to just over 100k from the previous year . Admin expenses including salaries for the 6 months to 3/9/9/20 were just over 500k which works out at approx £1 million per year. With only 100k in cash at 30th September 2020 obviously further cash was needed to fund the admin expenses . Therefore, a fund raise was done in Mid October 2020 for £2million for which £750k was invested into EMMAC. Why could the board not be more up front when the fund raise was done last October? Current fund raise for £2.1 million should now be for only new investments given there seems to be £1.25 million left over from last fund raise which will probably cover annual expenses. There has also been a further £250, 000 raised to cover previous chairman's outstanding salary which has now been paid in shares . Looking at recent interims salaries now work out at a total of £266k per year for all of the current directors. Seems to be some imprvement here. However, is this current remunaration a fair reflection for the roles of the directors? Just to add, I am also a shareholder in Primorus where there was recently a board takeover and salaries s for three directors have now been reduced from around 250k per year to less than 100k per year. I have repeatedly emailed FFWD about their running costs without any response. Whilst I am still very confident about the excellent investments in FFWD it is clear that there is indeed a total lack of transparency over the running costs of the company. A good successful company needs both great investments and accountabilty for its costs. Looks like 1 out of 2 for FFWD at the moment. I will continue to remain invested here and if any of the BOD read these posts please take note. All the best to all FFWD shareholders.
Has any one else tried emailing the company recently? Would be interesting to know if other shreholders are getting any sort of response.
Kierewiet - Agree with your comments about the recent fund raise and operating expenses. I have emailed the company about these issues without any response.
Thanks just putting out the facts. Share price down another 11% yesterday on net sells just over 20k. Been buys of around 7k since then and share price is up today for the second time in four months by 0.5 %.
Have just done a rough calculation on amount of shares bought and sold based on mid prices since Truspine flotation. Approx 44% in buys and 56% in sells yet share price is down by around 75% since the 20th August 2020.
Roughly the same amount of buys and sells yet down nearly 9%. Just confirms my previous posts.
Please find enclosed Acquis Link for Truspine which shows the continual downward movementt of the share price since last September despite a siginficant number of buys. https://www.aquis.eu/aquis-stock-exchange/member?securityidaqse=TSP
The share price has moved up once since last September. The share price only moves down on any amount of sells and also recently fell by 10% on no activity. Clearly being manipulated by the MM's for their own financial gain.
No news for more than a month now. Hence share price very static. Would be good to get some kind of meaningful RNS sooner rather than later.
84k buys and 74k sells yet down nearly 6%. MM's are having a laugh once again. Only good news will move this up on sustained basis.
Would like to think that FFWD will reveal to us in the near future what the recent fund raise is being used for. There maybe some new investments included. More transparency would give us shareholders more confidence in FFWD. Like many others, I invested here beacuse of LEAP and EMMAC and I am still confident that FFWD can ultimately be a financial success. I also know that AIM has many companies where the expenses etc are shall we say over the top- but just because this is generally acceptable behaviour on AIM it is does not mean it cannot be challenged by the shareholders in these companies. The irony is that if more companies were prepared to address this expenses issue the better their share price would perform meaning better returns for the directors etc. You never know, maybe someone connected to FFWD actually reads these posts. All the very best to all FFWD shareholders.
What is clealry holding this company back are the directors themselves whose main priority is to pay themselves very handsomely despite the ongoing poor share performance. Who do you think is funding this through ongoing share dilution via fund raises? Directors have to held accountable and someone has to start addressing this sitaution ie the new CEO. Latest annual accounts to March 2020 show over £1 milion in annual expenses. The previous CEO is still due an annual deferred payment of £250k for looking after a handful of investments . There are are some great investments in FFWD but any good work is being undone by the continual cash drain which continues to adversely affect the share price.
33k in buys and 44k in sells. Down over 8%, once again MM's taking full advantage of todays RNS. So patience required.
Thanks Richard for your posts and for sharing your views and ressearch on LEAP. I also invested into FFWD mainly because of LEAP and also EMMAC. Patience is a great virtue and will be greatly rewarded here in the next few months. All the best.
Looking at the results regarding costs FFWD are paying out over £1million in annual expenses. Cash has fallen to just over 100k. Then a fund raise for £2 million in October. Shareholders deserve better here. I emailed the company twice recently with no reply. Any thoughts?
Thanks Dapr. As somone with excess wax issues I am all for blowing the wax out of the ears come the half year report!
With the half yearly report due will we discover what the £2 million fund raise was for?
I have Mats account on Twitter but its not allowing me to send a message