Member Info for Hedgehog100

FFWD's holding in EMMAC was valued at £2.5M. as at 30.9.19, but this value could soon be nearly doubled at EMMAC's next fundraising:

From FFWD's 16.10.19 RNS:
"The convertible note is convertible at a 20% discount to the price of the next eligible fundraise by EMMAC capped at GBP0.50 per share. At a conversion price of GBP0.50 per share, EMMAC has an implied value of greater than GBP150 million. Following FFWD's investment in March 2019 the implied value of EMMAC was GBP77 million (post-investment)."

"Yooya (investment position: c.8% of NAV) is currently a content-driven e-commerce platform focused on Asia, however, proposals are under review, which may result in it being converted to a CBD sales and marketing platform."
"I'm hearing 3 clients already on board"

Yooya could provide great synchronicity with FFWD's investee company EMMAC, Europe's largest medical cannabis company by territory.
The potential for selling EMMAC's products via Yooya into the gigantic Chinese market must be vast.

As at 30.9.19, FFWD's stake in Yooya was valued at £1.586M.
Which is over four times the level that its stake in Cryptologic was valued at as of that date (£386K.), which was recently sold for about 130% more than that.

A RTO (reverse takeover) into a shell gives more certainty than an IPO (initial public offering), especially in a weak IPO market, and allows a company to raise its profile and share price before raising funds later at the most opportune moment.

Many of the largest companies have their roots in RTOs, including even FTSE 100 constituent WPP, the world's largest advertising company:

"WPP plc
... WPP plc is a multinational communications, advertising, public relations, technology, and commerce holding company headquartered in London, England. It is considered the world's largest advertising company, as of 2019. ...
The company was founded as Wire and Plastic Products plc to manufacture wire shopping baskets in 1971. In 1985 Martin Sorrell, searching for a listed company through which to build a worldwide marketing services company, bought a controlling stake...."
https://en.wikipedia.org/wiki/WPP_plc

So the "extremely exciting opportunities" to RTO being negotiated by MILA could result in something pretty special happening here ... which should mean a pretty special reaction from the share price.

It's also possible that FFWD could increase their Portage holding ahead of the uplist to NASDAQ, given Portage's current fundraising, and FFWD's cash resources.
It would make perfect sense.

Also remember this from Doggo , posted on 27th. November:
"Interesting to note the average uplift for a company uplifting to Nasdaq is 260% instantly."

" ... People who are not following this stock will not understand the significance of Portage listing on NASDAQ ..."

Alwayswinning,

But the news isn't rocket science - it's pretty simple.

A simple double positive to FFWD:
1. Portage Biotech no longer suspended.
2. Portage Biotech uplisting to NASDAQ.

And particularly significant in that it will be the first of FFWD's current holdings to list on a major exchange, with more expected to follow.

ODonnell,

You were right, well done:
22-Jan-20 16:24:23 8.14 407,758 Sell* 8.00 8.50 33.19k O

It's obviously often the case that if the volume of shown buying /selling isn't moving the s.p. as you would expect, a large order is being filled.

That was the only thing holding the share price down today.

If that seller is exhausted (and it's an odd number of shares, which could indicate that he is), more buying like today should have a bigger impact.

Freddie,

Today's RNS indicates that the only significant loans likely to be available are subject to recapitalisation of the company:
"MidCap remains supportive of the Company and access to Tranches 2 and Tranches 3 of the debt remains available, subject to lenders discretion and the satisfactory recapitalisation of the Company."
https://www.lse.co.uk/rns/TRX/trading-update-43xh1ivtsc5l5xp.html

I won't post here again ahead of the fundraising (if at all).

"So if they do come to the market to raise £5million, so what."

Chester,

The obvious 'so what' is the price at which they raise the funds.

Look at C4XD, which traded at 40p immediately prior to a 15p placing:

24th Oct 2019 7:00 am RNS Proposed Placing, Subscription and Open Offer
"24 October 2019 - C4X Discovery Holdings plc (AIM: C4XD), a pioneering Drug Discovery company, today announces a proposed conditional Placing of Placing Shares with existing and new institutional investors and Subscription of Subscription Shares by certain Directors to raise a minimum of approximately £5.5 million in aggregate before expenses at the Issue Price of 15 pence per new Ordinary Share. ...
The Issue Price represents a discount of approximately 63 per cent. to the closing mid-market price of the Ordinary Shares of 40.5 pence on 23 October 2019 (being the last practicable dealing day prior to the date of the Circular). ..."
https://www.lse.co.uk/rns/C4XD/proposed-placing-subscription-and-open-offer-2y8j2h9hbf7rjfh.html

After TRX recapitalises (i.e. a discounted placing) it may well be a very good recovery buy.

Thanks Doggo and Quint for these very useful posts today about Portage Biotech.

It will be interesting to see if FFWD increase their Portage holding ahead of the uplist to NASDAQ.

I also note Doggo that you posted this on 27th. November:
"Interesting to note the average uplift for a company uplifting to Nasdaq is 260% instantly."

"Rich, Im very dissapointed. You seem to have started 2020 in an awfully negative way?! "

Chilston,

And you seem to have started 2020 in an awfully stupid way.

Which just goes to show that a leopard doesn't change its spots.

Rich's posts are highly intelligent, unlike your incessant crap, and you are not worthy to lace his boot straps.

YOLO is now ASLR, and has continued its stellar rise.
Up another 16.92% (5.5p) today to 38p: market cap. £35.6m.
YOLO-ASLR has now 16.5-bagged from its s.p. at the end of September last year (2.35p).

Remember that it was a change of investment strategy to focus on technology that triggered the start of YOLO-ASLR's rise:

2nd Oct 2019 7:00 am RNS Placing and Investment Strategy
" ... Investment Strategy
The board of directors has conducted a review of the Company's investment strategy. One outcome of that review is that the board has decided that, in the light of the current market conditions and pipeline opportunities, within the scope of its current investment strategy it should give particular focus to technology opportunities in the fields of big data, machine learning, telematics and the internet of things (IoT). ..."
https://www.lse.co.uk/rns/YOLO/placing-and-investment-strategy-isux13td1iyxled.html

I wouldn't be at all surprised if shareholders attending MILA's recent AGM received an indication that MILA's new strategy includes the technology sector, which I believe it almost certainly does.

Which, combined with the "extremely exciting opportunities" to RTO that are being negotiated here, makes this a very compelling investment opportunity.

There were four MILA trades on 23rd. December after the AGM, which were buys apart from a small trade of £71.28.

This suggests that the shareholders attending the AGM were pleased with what they heard:

23-Dec-19 15:57:09 2.44 11,379 Buy* 2.10 2.60 277.65 O
23-Dec-19 15:56:56 2.44 74,304 Buy* 2.10 2.60 1,813 O
23-Dec-19 13:34:19 2.11 3,378 Sell* 2.10 2.60 71.28 O
23-Dec-19 12:39:45 2.4499 40,330 Buy* 2.10 2.60 988.04 O

P.S. Thanks John.

A non-resource and domestic RTO should be relatively quicker, cheaper, and simpler to arrange.
Whereas foreign acquisitions obviously increase costs, and resource acquisitions tend to have more complicated due diligence, and risk of abortion.

In addition, two other potential barriers to an RTO don't apply in MILA's case:-
• It's a 'new', 'clean' shell, as opposed to a 'dirty' shell that previously housed another business, which can have left some toxic baggage.
• It's very lowly-valued, including re. cash, so there is no problem of shell overvaluation putting off interested parties.

And unlike most penny share fundraisings, a small cash-rich shell can raise money at a premium.
For example, a few years ago the shell ACO raised funds at a premium of 71.43%:

"3 August 2016
Acorn Minerals Plc (the "Company")
Subscription
The Company is pleased to announce that it has entered into conditional agreements with a group of unconnected investors introduced by Peterhouse Corporate Finance, pursuant to which such investors will subscribe in cash for 16,517,778 new ordinary shares in the capital of the Company (Subscription Shares) at 15p per share (Subscription Price) to raise gross proceeds of GBP2,477,666.70 (Subscriptions).
On issue, the Subscription Shares will represent 53.62% of the issued share capital as enlarged by the Subscription Shares.
The Subscription Price stands at a 71.43% premium to the closing middle market price of an ordinary share in the capital of the Company on 2 August 2016, being the latest practical date before the date of this announcement. ..."

The "extremely exciting opportunities" to RTO that are being negotiated means that there could be a lot of upside here.

Here are two tech stocks that were extremely exciting opportunities (both became thousand-baggers):

1. In hardware: "Intel went public in 1971 with an IPO value of only $8 million".
https://blog.themistrading.com/2011/10/david-weild-how-to-revive-small-cap-ipos/
At its peak market capitalisation, in 2000, its market cap. was about $500 billion.

2. In software: Microsoft went public in 1986 with a market capitalisation of about $500 million. At its peak share price near the turn of the following decade, its market cap. was well over $500 billion.

Global_2017,

I would prefer a company like KIBO with with a few related energy projects, rather than a company with all of its eggs in one basket. There's obvious risk diversification, and more chance of something coming off big time.

In addition:
"By progressing these projects in parallel, Kibo intends to leverage economies of scale and timing and utilise its existing stakeholder relationships – technical, financial and governmental – to efficiently expedite project development."
http://kibo.energy/

When a company has disappointed in the past that can create issues of trust from shareholders who are down.
But project development and a rising share price can rapidly rebuild confidence again.

Until recently ORCP had fallen over 90% over the last few years, like KIBO, but that can create an opportunity of extreme undervaluation.

"I do love a stalker"

Yet another lie Chilston.

I haven't posted about you on any other board except this one, and I was a shareholder here long before you were (in the Kuala days in fact).

Your nonsense is particularly incongruous here because much of the other posting here is so good.

You come across as a classic conman, trying to elicit trust: ' ... let's have a drink together ... '

You may fool some, but you do not fool me.

1. Richard Hackett has recently increased his FFWD holding by over one and a half million shares: from the 4,900,000 announced on 16.9.19, to 6,481,587 announced on 5.12.19.
So much for Chilston's dishonest claim just six days previously that there were no large buy orders:
chilston Posts: 2,072 Price: 6.20 No Opinion
RE: How many times 29 Nov '19
"doggo.... there are 'no' large buy orders waiting.... none : 0 : zippo..... you are talking crap. ..."

2. When Chilston said on 6th. November that he was continuing to buy at 9.1p, he was clearly lying: i.e. committing market abuse.
Posted by Chilston, Wednesday 6th. November:
Price: 9.10 No Opinion
RE: im buying again 06 Nov 2019 16:09
"I'm only done for... The day"

3. Posted by Doggo here on 19.11.12:
doggo Posts: 3,933 Price: 7.25 No Opinion
Chilston 19 Nov '19
"You do make us laugh over at twitter. Your postings in the elite trading Room are legendary. They get posted in a lot of rooms.
You’ve been caught out multiple times lying and it’s all a little embarrassing.
Emmac no one knew months ago LA would become chair. I told everyone last week.
This is a new Factom grant from DHS totally unrelated to the non-bid $19 million contract you fool.
I bet £800k at Ascot. 5 minutes later it’s £45k.
You’ll face market abuse accusations of you carry on. It’s all in black and white love."

To ALL: anyone unhappy with this Chilston please report him to LSE to get him banned, as I have done, as his dishonest posting is demeaning to LSE, and detracting from a generally very good board.
I note that he has had market abuse posting deleted here relatively recently, so he must be close to being banned.
The more complaints the better, as there is more chance that we can get rid of this person.

I am also compiling a dossier on Chilston to submit to the FCA.

LSE % Gainers Top Lists
EPIC Name %
ORCP Oracle Power +199%

A stunning performance today from Oracle Power (formerly Oracle Coal Fields): nearly trebling to 1.375p (market cap. £21.45M. - over four times the market cap. of KIBO at 0.4p):
12/12/2019 16:35 ALNC Oracle Power Confirms Coal Power Project Development Talks
12/12/2019 15:38 UKREG Oracle Power PLC Share Price movement

ORCP has now risen about seven-fold in barely month.

KIBO surely has to be next in line for this sort of massive rerating upwards.

There have been a lot of reversed trades here recently, and some buys are being hidden.

In the recent placing KIBO directors and senior management invested £239,701: and eight of them invested:

21st Oct 2019 7:00 am RNS Completed Placing
https://www.lse.co.uk/rns/KIBO/completed-placing-59wxtwfbc5vjut1.html

This sort of director 'cluster share buying' is a very bullish indicator, and suggests that they are very confident about what's coming here.