Shut up you tart. They are a multi billion operation that are selling the IMG Arena concept to all the major sports books worldwide.
Let’s look at the facts and where Leap sits within the organisation.
Leap Gaming is a leading technology company supplying virtual sports, gaming solutions and digital content to regulated betting and gaming customers around the globe.
Leap has been fully integrated into IMG Arena who themselves sits within the global IMG powerhouse, which is a world-leader in sports, events, media and fashion operating in 30+ countries.
IMG sit within the Endeavor portfolio (formerly WME | IMG) they are the global leader in sports, entertainment and fashion operating in more than 30 countries. The Endeavor network specialises in talent representation and management; brand marketing, sponsorship and licensing; media sales and distribution; event operation and management; and sports training and league development.
Having a 46% stake in this multi billlion operation whilst being a £10 million MCAP micro-cap is awesome.
Workspace is going nowhere fast and do stop promoting other companies ODonnell. If you want to spout rubbish to create a little buying window then find an appropriate board that will put up with your nonsense.
It is a cute RNS by FFWD... cough..they forgot to mention Portage expects to file the 2019 Annual Financial Statements on or before August 13, 2019 and will issue a news release announcing completion of such filings ASAP
I’ve no idea where those figures are coming from Chilston.
Nov 2017 FFWD received an opening offer of $4.9 million for their then holding of Leap.
Let’s also remember this offer was made BEFORE the US Supreme Court ruling..
The Supreme Court specifically ruled that one particular federal gambling statute – violated the 10th Amendment of the U.S. Constitution. It allowed the federal government to order certain states to take specific actions to disallow sports gambling. As a result, that statute is no longer enforceable against states, businesses or individuals.
So does this mean sports gambling is now legal throughout the US? If you had read the ramping from the Webis crowd (everywhere) the answer was yes because they read the headlines.
The answer was no...however it now allowed individual states to now debate and pass statutes to allow gambling within their borders.
This Supreme Court ruling obviously increased Leaps ‘value’ not on a NAV level but on a negotiating level.
The FFWD bod were obviously aware of the Supreme Court sitting and turned down the offer.
A few months later Leap raised again, FFWD invested another $1 million. It was at this stage that IMG invested and took control of 25%.
Increasing our holding and having a monster investor again increased our ‘value’
Then IMG launches a separate company IMG Arena that fully integrated Leap gaming into their system a further step that increased our ‘value’.
Endeavor the company that majority owns IMG are having a huge IPO in Q3 that will initially value their company at around $8 billion upon listing on NYSE.
We know that Endeavor are currently purchasing further companies pre IPO so would not be beyond the wildest imagination to believe that Leap would fall under this umbrella. Why would a huge unlisted company want the bother of having a tiny company being the majority shareholder in something that is vital to the success of IMG Arena especially when they are currently in the middle of new negotiations for football, golf and tennis rights. At this stage please note for anyone not familiar with Leap that football, golf and tennis are the biggest games in the Leap stable.
Our Leap valuation taking the above into consideration may well be in excess of out total market cap,which would mean for lucky holders everything else is essentially more than a free carry.
It is a very positive sign that Bank of America Merrill Lynch has joined Citibank, Credit Suisse and Julius Baer in recognizing that modifying or slowing the aging process will be tractable in the short term and worthy of attention from the wider investor community. Juvenescence’s founders have found that a portfolio approach to age modification will mitigate the typical risks associated with biotechnology companies and dramatically improve its chances of successfully bringing products to market. Currently, there are only a handful of companies taking a portfolio approach to addressing aging.
Looking to the future, we are excited by the prospect of pioneering the massive market described by Bank of America Merrill Lynch and others and are very confident in our approach to develop therapeutic agents that modify aging and increase healthy lifespan.