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Kierewiet
What exactly are you substantiating and interpreting from the historical accounting data that says Leap was not profitable at that point. I am sure you are aware of many companies that have IPO on values of £1 billion + without ever having made a profit( I am not suggesting that valuation for Leap). Leap will be valued on multiples of its revenues so the lack of profit is not an important factor as indeed Ed said some months ago when a profit had been predicted, revenue is more important than profit at this point.
The information in the cut and paste report is the best information we have on Leap. Ed knows it all because he is a Director of Leap but because of confidentiality in relation to the IPO or Sale he is not at Liberty to disclose everything to SEED shareholders. If it is your opinion that the Directors are misleading us you are welcome to it but personally I believe the Directors.

Fralis LLC (trading as Leap Gaming - 'Leap') (investment position: c. 37.78% of NAV)

Leap is a developer and provider of 3D gaming technology and products with a focus on virtual sports and virtual casino, partnering with top-tier online and land-based gaming companies to provide advanced gaming products for end-users.



During the year under review, Leap made great strides forward with a raft of notable successes that demonstrate its world-leading ability to develop totally unique and innovative products that challenge other gaming developers worldwide and take gaming experiences to new levels.



Its relationship with its strategic partner, IMG Arena, has been particularly productive with several new products jointly developed and launched. These included an official virtual tennis product launched in partnership with ATP Media, the global sales, broadcast production and distribution arm of the ATP Tour, a worldwide top-tier tennis tour organised by the Association of Tennis Professionals, and a new vintage betting product in partnership with EuroLeague basketball. Furthermore, IMG Arena began offering bookmakers a virtual sports betting product for the NASCAR US stock car racing series, as well as distributing the international betting streaming rights for the first time.



A number of new partnerships were also formed: 888Sport ('888'), one of the world's most popular gaming entertainment and solutions providers, will now host a selection of Leap's ultra-realistic 3D virtual sports games and offer several of its popular titles through 888casino; and Stoiximan/Betano, the leading online gaming operator in Greece and one of the fastest growing in Europe with more than 300,000 active users in sports betting, virtual sports, casino and fantasy sports, now offers Leap's complete portfolio of virtual sports through its online brands.



Having been granted a Gaming Supply Licence in Malta, Leap anticipates that its pool of potential operators that it can now work with will further increase and that its expansion into new territories including but not limited to Germany, South Africa, Mexico, and the US, will accelerate during 2021.



Notably, in the year ended December 2020, year-on-year, daily active users were up 135%, transactions were up 170%, turnover was up 56% and Gross Gaming Revenue was up 86%. Organic growth projections suggest turnover is likely to nearly double in two years from 2020. With this background, Leap is now exploring options for a UK listing; to support this, I joined its Board in November 2020.

Kierewiet
I am very much in favour of critical thoughts as long as they are substantiated by facts and reasoned arguments. What you are posting are your thoughts which are purely speculative and based on what?
We as shareholders of SEED know very little about the commercial and financial facts concerning Leap. The Directors of SEED know a lot more than we do yet you are suggesting that your opinion is of more value that what the Company tells us. I will let other posters form their own view as to who they should take note of.
Personally I would direct them to the person who has access to the information you don’t have because he is a Director of Leap. I refer of course to our CEO Ed who has made it clear in several interviews that Leap is worth a lot more than its value in our accounts.
I will post Ed’s report on Leap from last months report.

I think we need to look at what the company says about Leap rather than the opinions being posted. This is the Chairman’s comment in last months report
Online gaming group Leap Gaming continued to showcase its exceptional growth within the market with a number of successes. Most recently, it created a unique new vintage betting product, EuroLeague Legends, which was launched by IMG Arena in partnership with EuroLeague Basketball. EuroLeague Basketball, which has been an IMG Arena partner since 2015, is the organiser of Europe's premier professional basketball competition the Turkish Airlines EuroLeague and also runs the 7DAYS EuroCup. The extension of the partnership between the two companies with the launch of the new product will have a significant impact on Leap Gaming, adding another important revenue stream to its suite of products across the global gaming operators. A number of new partnerships were also formed including with 888Sport, one of the world's most popular gaming entertainment and solutions providers, and with Stoiximan/Betano, the leading online gaming operator in Greece. The grant of a Gaming Supply Licence in Malta is expected to open up its pool of potential operators that it can now work with in new territories including but not limited to Germany, South Africa, Mexico, and the US.



In February 2021, we made a further investment of €153,031, GBP equivalent of £173,994 (fx 0.87518) into Leap Gaming, as a result of the business delivering remarkable growth throughout the past year. Leap is now exploring a potential listing on the UK market which I believe will help expedite the growth of the company further.

It is misleading to compare the upcoming drill with the previous drills which were wildcat drills. The drill here will be an appraisal drill getting a better picture of what we already know is there and it’s CoS is high. It is perhaps the case that investors are remembering the past resulting in the current low sp but they are wrong to do so as they are not comparing like with like.

A very positive podcast . Mark once again states that there is no problem in acquiring all the land. He also says he was discussing the project last week with a Canadian Investment banker who thought there were only 10 projects similar to CNR in the world. He clearly thought CNR was very undervalued based on those 10 companies and the resource and advanced stage.
Worth a listen.

Absolutely right Scoobydoo
Ed will know the score at Leap as a NED and by his own admission involved in the sale process. His duties as a Director mean he can’t disclose this information directly but he has done so indirectly by giving predictions of future NAV and share price. Essentially you can work out what the value of Leap must be to get to the figures he has given. He has a very fine line to walk so shareholders have to read between the lines.

I know Ed thinks LGP is very undervalued. We seem to have invested £2.33 million which is now worth £2.92 million, a gain of nearly £600000. Do you agree with that?

The net assets of the Company at 31 March 2021 were £24.94 million (2020: £14.24 million), equal to net assets of 11.72p per Ordinary Share (2020: 8.82p per Ordinary Share).
There have been disposals and new investments since the above figures to 31/3/21 .
There were one or 2 posters on Twitter who produced spreadsheets updating these figures and I was wondering if someone was still maintaining such a spread sheet would they be prepared to post it.
I am sure the figure will be higher and that will be keeping Leap at its audited value of £9.1 million.
Our current market cap is £18 million which is a big discount to NAV. This needs to be made clear to the market and then there is Leap!

There are a number of derampers about in recent days spreading negativity to support their trading strategy. I hope the buyer keeps going and the traders who have sold get their figures burnt. As the report today shows CNR is on track:
“The Company is on track with its strategic objective of constructing and operating a processing plant producing circa 100,000 oz gold per annum, then materially expanding the production capacity and demonstrating a 5M oz Gold District."

That is the last sentence of Mark’s comment in the Interim report.

A good end to the day Up 6.6% on strong buying for a volume of 460000. Just shows how this can move on relatively low volumes. Will we see a holdings RNS tomorrow or will the buyer keep buying, perhaps both.

LastJuly Jim Mellon via Galloway bought 400000 shares and last August another 200000 shares in 2 trances of 75000 and 125000. So let’s see if he is doing the same this year.

Someone just bought 12500 x10 in very quick succession. Perhaps Jim Mellon fancies a few more at this bargain basement price?

Satoshipay are recruiting and it is interesting to see how they describe themselves at the start of the advert:
SatoshiPay is a fast-growing technology company founded in 2014. We are right in the middle of the nascent blockchain industry that is reinventing payments, banking, and money.

We are looking for a self-motivated and ambitious junior product owner, who is enthusiastic about innovative solutions, financial technologies, and blockchain in particular. This is an excellent opportunity for a graduate to make their first experiences with product development.

You’ll be joining the company at a pivotal moment in which we’re building the next generation of financial services, so an ideal environment for…..

So some key words there FAST GROWING, REINVENTING PAYMENTS BANKING AND MONEY,PIVOTAL MOMENT. That is a very positive picture which will hopefully be as positive in the next RNS.

One would imagine there will be an RNS later in the day. Clearly it would be inappropriate to release the YOOMA news until after it has been released by Yooma.

I hope Mark hasn’t gone on his summer holidays as we could clearly do with some news to help the sp this week!

Just 2 trades so far this morning giving volume of less than 20000. We clearly need some news to get this moving. So far since we became SEED in mid July we have had 3 RNS. The first was the final results followed by 2 about Yooma. We have made a further investment in Yooma and should have confirmation tomorrow that it has listed on a minor UK market.
We are expecting news in relation to other investments which will hopefully have more impact when it arrives. We have a good story to tell and the Directors need to keep telling it and pumping out value enhancing news.

A visit from the British Ambassador looks a very promising sign and should help any discussions with the Government.

Now Up 1.8% on volume of 980000 as a wave of AT trades goes through. Are we in for a repeat of yesterday? Let’s hope so.

The response to your WTFDIK is obvious to all but for the avoidance of doubt it’s ABSOLUTELY NOTHING.