I believe the value of Salvarx to be around 15p per share from the information in todays Report. This is based purely on its holding of Portage Biotech and doesn't include the possibility of any acquisition etc.
My only question would be why leave FFWD to concentrate on his other ventures ? Just counting the small companies he's involved with, the count is over 30. I would have thought this would be one of those he would like to keep involved with as it's his "technologies that will shape the future" fund , he even wrote the book FFWD.
I think a lot of PIs just quickly glance at the results and see a tiny company like this with over 4 Million profit. If it wasn’t for the fact TEK had increased its own valuation of its holdings by over 4.7 Million it would be showing a big loss for the six months.
The results show a profit of 4.4 Million. TEK has revalued its holdings by increasing their value by 4.7 Million. If the value of the holdings of TEK had remained the same as six months previously, TEK would be showing a loss of almost half a million for the six months. I personally like the look of a couple of the holdings, but until they can actually be sold or make a decent income stream it doesn’t really matter what TEK say they are worth.
Yes, agree that is the last valuation of Leap. The current value resulting from a sale should be well in excess of this. Any private equity investor would expect to be able to double their investment in the period FFWD have held Leap. Considering FFWD have invested around £4.5 Million over this period I would think anything less than double this as a return would be a poor result.
It’s as you say Doggo. The money that is previously invested is the money that will increase in multiples of the new price i.e. if the new Factom price increases 4 fold then our current holding would be worth 4x £500k. Plus the safe agreement money, which will always have the same value regardless of how many multiples the new Factom price is.
The price is at a 25% discount. If Factom’s next raise price is 2x or 5x the last share price FFWD still get 25% discount. The current holding that FFWD holds in Factom would multiply by that figure 2x or 5x but the new purchase would be $8m worth for $6m.