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BS talking BS
The persistent deramping suggests the big news we are expecting is very close.

I think Adonis makes it clear that the instant cash flow from the new investment is one of its attractions. It looks like a profitable venture which also makes them look good to be active in the renewable space and I assume it hasn’t escaped your notice how active the majors are in focusing on renewables. It’s a smart move.

Perhaps thinking about it’s because of all the new shares issued by YOOM to pay for Socati.

FastForward Innovations Ltd, the AIM quoted company focusing on making investments in fast growing and industry leading businesses, is pleased to announce that Yooma Wellness Inc. ('Yooma'), in which it holds a 5.1% interest, has acquired Socati Corp., a U.S. based manufacturer and seller of premium-quality cannabinoid ingredients and consumer products.

I just noticed that 5.1% which surprised me because it said 8.95% in the last RNS on 18/3/20. I hope it’s an error.

I think people are failing to appreciate the value of the market in which Leap Gaming operates and as a result are failing to appreciate the value of Leap. They are also not realising how rapidly the market has grown and continues to grow.

Yes it is a reasonable assumption that 6 months after launch their will be a further update particularly as there was an update after 3 months. The last update showed considerable progress. Derek Lew has recently informed us that his full venture capital team is assisting Dtransfer and so we should expect significant further progress to be reported very soon imho.

IMG are a major part of Endeavor and their value will be an important part of the IPO so if IMG wants to buy Leap then I am sure the funds will be available.

Interesting comments last night on FFWD Twitter regarding Leaps other large shareholder IMG:

Quite remarkable how having strategic shareholders (25%) of this size is still escaping the AIM. When IMG arena comes online then you’ll see why Ed Mac raves about Leap holding 43.4% #FFWD holders will be even happier. Read what IMG partner has created for them & Leap..(go to the FFWD Twitter to see this)
Then a further comment :
“Leap 25% owners have confidentially filed IPO documents with the SEC today.

They pulled their 2019 $700 million IPO that would have valued the company at $7 billion.

IMO PREMIUM sale rather than IPO for Leap as they will want to secure all assets.“
Some very large numbers being talked about here. Leap is clearly integral to the operations of IMG Arena. It therefore seems highly probable that in conjunction with their IPO IMG will want to acquire Leap. They clearly have the financial ability to purchase FFWD’s 44% of Leap.
Interesting times when a Leap deal could be announced very soon.

It has been stated that Q3 was the likely date for an IPO but if I recall Ed said they were always open to offers. EMMAC deal was originally thought to be an IPO but then out of the blue one morning a few days after a major investor presentation the EMMAC sale was announced. The same could well happen with Leap so be careful if you think you can trade this until Q3.

FFWD valued Its 44% of Leap at £7.15 million in March 2020 which implies a value for Leap of £16.25 million. We are told gaming companies are valued on a multiplier of revenues but we don’t know the revenue figure at that date or the multiplier used. It has been suggested that these multipliers start at 7x but can go much higher. If a 7x multiplier is applied to the £16.25 million valuation the revenue figure would be £2.3 million. We know a listed larger gaming company has increased revenues by 500%. If for illustration of what is possible we apply that to the £2.3 million we get revenue of £11.5 million.
Apply the 7x multiplier that would value Leap at £80.5 million and FFWD’s share at £35.4 million.
Clearly there is much speculation in that illustration but at least it shows what is possible.

If we could apply the same 5x multiplier to the value of our stake in Leap 12 months ago we would be looking at £35 million. Ed is saying very good things about Leap and in order to deliver on his comments about where FFWD will be by the end of this year he must be expecting valuations in that ballpark.
I think it will be sometime before Ed gets substantial cash from EMMAC as most of the deal is in shares in the purchaser and I think there is a lock in regarding sale of those shares.

The obvious flaw in your come back later strategy is the increased possibility of a bid following yesterday’s RNS which is another major step to production which is now 12 months sooner than expected. That could happen any day as could someone such as our new shareholder taking say 20% in return for financing the mine to production. Such events would cause an instant rerating of the shares which you would miss.

I agree with Ecclescake that a deal or serious progress involving Satoshipay should be close. We know from the December RNS that Dtransfer was making good progress following its formal launch in September. We know Derek Lew and his full venture capital team are working with Satoshipay and that there’s a lot of activity in blockchain payments, which are growing very quickly.

Ed was certainly very bullish about Leap. When you take account of everything he says and the size of the company he expects by the end of the year Leap has to be massive for that to be achieved. He says they are working on an IPO but are always open to offers( I imagine IMG would be very interested). But the real point to bear in mind is timescale. We saw how EMMAC came in much sooner than expected and it is highly likely this could happen with Leap. If you are not fully loaded when that Leap RNS lands you stand to miss out on a large rise. It could land any day.

Ed was certainly very bullish about Leap. When you take account of everything he says and the size of the company he expects by the end of the year Leap has to be massive for that to be achieved. He says they are working on an IPO but are always open to offers( I imagine IMG would be very interested). But the real point to bear in mind is timescale. We saw how EMMAC came in much sooner than expected and it is highly likely this could happen with Leap. If you are or fully loade when that Leap RNS lands you stand to miss out on a large rise but each to their own if trading is your thing.

I think it’s just due to the low volume on the CSE which yesterday was 31600 from 12 trades. The spread is showing as 1.30/1.42 but the last trade of the day was 1000 at 1.0 which is the price they have used to show 30% down. I imagine it will correct on Monday.

The article referred to by Pappiklon is very positive for own coal:
6th March 2021
Unless steps are taken to increase exploration of own energy resources and their usage and if current trend of importing primary energy continues, then by 2030, annual energy import bill will stand at US$20 billion. It remains unclear how much return will come from selling this energy. A thorough financial analysis is needed on the issue
Speaking as Chief Guest on Energy & Power organized EP Talks on “Fifty Years of Bangladesh Energy Sector”, these comments were made by former caretaker government energy advisor and BUET’s Petroleum & Mineral Resources Engineering department, Prof. Dr. Md. Tamim. In his opinion, the government is failing to stick to any long-term energy roadmap. It would be more prudent to make an energy roadmap for the next decade based upon realistic demand projection of primary energy and electricity and prepare a 5-year plan that can be implemented – a plan that would be reviewed on a yearly basis.

Engr. Khondkar Abdus Saleque, Contributing Editor, Energy & Power in his keynote presentation stated the country had wasted two major opportunities during this period. First was the failure of country’s policymakers to seal the Tri-nation gas pipeline originating from Myanmar and, not taking decision in appropriate time to mine own coal in the northern region of Bangladesh. Second, no major gas finds – either onshore or offshore, has not materialized since the year 2000. Consequently, the country gradually became import dependent for energy supplies – which runs contrary to Bangabandhu’s vision of energy sector development.

Then a further comment about using own coal:

Professor Dr. Golam Sabbir Sattar, Director (Institute of Environmental Sciences), University of Rajshahi believes that coal fired power plants are not coming online as envisaged in the PMSP. Again, coal plants like Rampal and Matarbari will run on imported coal. But we have massive deposits of high grade coal sitting unexplored in the country’s northern region. Other coal deposits are also waiting to be discovered. So, it is imperative to take a fast decision to explore own coal deposits.

There is clearly considerable support for using own coal out of economic necessity. The other sources are unreliable and or dwindling but also unaffordable. Very positive situation for Phulbari.

Current MCAP 9p / £19m GBP

Fair Value* 12p / £25.6m

*Fair value does not price in any rise/fall in valuations of Leap, Juven or Vemo since 30/09/20

Oversold
The spreadsheet showing the calculation is on FFWD Twitter by GLR

I think we will see the large increases in market cap this year because we have now reached the time for liquidity events in our early investments. Ed mentioned the 2 main drivers of the market cap and he knows what Leap should produce as he has all the accounting information as a Director of Leap.
I think it is very useful to understand the history of FFWD as this gives further confidence in why I think it will deliver a good return. FFWD was set up by Jim Mellon inspired by his book of the same name to invest in companies at pre ipo stages not available to normal private investors. So you need people like Jim Mellon and high net worth investors who have access to those opportunities. Look at who our large shareholders are and look at their involvement as Directors and large shareholders in the companies FFWD has invested in. They will all make more money the sale of the underlying investments but will also want to make a return on the money they have had invested for years many at considerably higher share prices than today’s.
In the early days the 2 main drivers were Jim Mellon and Lorne Abony both of whom were Directors. Over time both resigned as Directors to concentrate on the underlying investments which have all performed very well. But I also suspect they both resigned to avoid the potential conflicts of interests inherent in being Directors of the Investee companies as well as FFWD.
So we then have Ed’s arrival on the scene and we are aware of his links to Lorne. So while Ed doesn’t have any shares himself there are a number of large shareholders who he won’t want to disappoint. Everything points to Leap delivering this year and with a 44% stake the lions share of the profits have to come to FFWD to put the original large shareholders into profit.
Once the market cap is above £50 million FFWD will have funds available to take decent stakes in new investments and would be able to interest II’s in taking a stake.