Member Info for Lee8

Inveniam, the result of investing over £5m into a company (FACTOM) that was rejected by all its shareholders when trying to do a raise to stay afloat i.e. they gave their friends £5m for free. Well they have increased its value to a ridiculous £625k on the balance sheet, but then also warn it will more than liekly be written off with their statement .......Management have also disclosed potential near-term funding pressures and are currently undertaking a cost cutting exercise across the group whilst seeking to realise certain assets and undertake a fundraise. The result of these actions by Inveniam may see a review by the Company of the carrying value of this investment at the interims...........this equates to it will be written off at the next report ....That plus wages will remove £1.5m from the NAV next year........They better start making profits soon ( something that hasn't happened yet )

He will certainly do that Mat. Just over £1m left in the coffers. That will be almost enough for the next 12 months wages. What do they do then? Will they have cashed in any investment within the next 12 months....highly unlikely. Like I've said many times, this isn't set up for the investor, it is a vehicle to move money around and a plaything or interest that Jim would call it. It is certainly not a fund....The NAV has decreased year after year and will likely continue to do so.

= NAV continues to decrease. ..........Wages = Nearly 10% of the entire value of the fund each year and it will be more next year. They need over 10% a year gains just to prevent the NAV from falling...Annual fees 10% this is a joke..

There are some for sale to a discount to its last raise on there right now reefles. On its secondary market.

You can always invest direct for as little as £40 reefles. On the old Seedrs platform.

Agree, the last couple of years have been amazing for AI. Creeping into my daily work and I see lots of great uses. Though, like the history of SEED has shown it has probably missed the greatest gains so far ( around 60% UP for the Main Ai index last year alone, and several hundred% over the last few years ). Though I do believe there is still plenty of gains to come in the area. The problem is Seed have always been too late to trends and also it is like being a teenager and asking your 90 year old gran to choose you the latest stylish outfit for a night out. Only for her to return with flares and something from the Saturday Night Fever movie. You can guarantee they will choose something that is theirs, their friends, or something that is trailing behind in the technology field. They are not good at picking shares!

That is also very true Falling. It hasn't been tradable for many years, only in the pump and dump days. Quite true it is also not likely a one to invest in for the future. As most have summarised, it has never been a long term hold and will probably never be. It is a vehicle for the boys to move their money around.

Good summary Mat. I’ve said this for around 10years when people would say why are you slating it if you are buying it. Because it was a good fund to trade back in the day with the pump and dump crew. It’s never been a real fund where you invest and leave the fund managers to grow your money. Only for day trading. Jim is always late to trends. Jim buys into things he has an interest in and in most occasions they are not things that will make money. These are playthings for him and his buddies. Vehicles to transfer money to each others businesses. Even after changing the name of this fund to hide its past and shady characters leaving the BOD and then rejoining. The history is shocking. There would be enough evidence to put a person in prison if they were using public funds. Investing money in companies that have already failed ( friends ). Selling £10m worth of a holding for £400k ( friends ). Employing people for years who have not spent a single day working for the company ( friends ). Employing consultants ( your own company ). Letting £5m worth of shares dwindle to zero without selling ( friends company ). There are many more. Fraud under the best disguise.

That’s exactly it Falling. Like I said earlier. Mellon made the chunk in the early days buying shares off people at huge discount because they didn’t even know how to sell a share. The dozen plus holdings he has which he calls his playthings and interests have not made any money for shareholders. He makes cash from currency deals and like I also said. He is always late to the table when it comes to trends. Being a billionaire a couple of % on his money each month he says he can make dealing currency is making him millions. Remember the money he has in here is the equivalent to somebody with £100k portfolio buying £250 worth of seed. It’s not enough to give any time or effort to.

2019 to 2024 AI companies index has grown over 700%. It is still deemed to be The Growth Area. Which I also believe in and see creeping into all areas of everyday life, including my work. https://hai.stanford.edu/ai-index/2026-ai-index-report

Well I have to disagree with you there Chazzy. Jim is always late to the table with trends. He’s a billionaire so obviously he’s clever in certain areas. Though his wealth was mainly amassed via his early days underhand dealing with those that didn’t understand or know better in foreign lands. I think you give him too much credit. Even in my early days investing I was warned not to touch any of his “play thing” companies. As I’ve repeatedly said this has in the past been a good trading share. It’s never been a long term investment. My old account is still there to show back in the day how I’d go on here and tell people in this group minutes before I’d buy up to £50k worth of seed shares or FFWD as they were back then. The only reason I did that was because people couldn’t believe I was calling this share crap while buying large amounts. They would always say why are you slagging the share and buying large amounts. Well because the company is a waste of a listing but excellent for the pump and dump day trading. I exposed many liars here who would pose false information for those less experienced. The older guys here will know me well.

Chazzy. I think with the history of this, the sentiment is hard to change. One of the many final straws when the last CEO publicly stated at the pre sale of Leap that it was about to become a £50m company following the sale, when it turned out at that point he knew they were barely getting their money back after many years and millions of pounds. Cleary defrauded shareholders, though because they use the words MAY it’s ok. Any other company would soar when a billionaire like Jim Mellon joins or in this case rejoins the board and starts to invest. Why hasn’t this soared ???? They have pumped money into their own and their friends companies using this as a money vehicle. They have left shares in Seeds investments worth £5m dwindle to zero because they wouldn’t cash in the shares because it was invested in their own or their friends companies. I still watch these shares as they are good for day trading. They will never be as it’s meant to be, a fund to invest and hold long term. The NAV has dropped over the last ten years and will probably continue to do so. The last manager also publicly stated that he’s not good at picking shares to invest in WTAF. Jim Mellon is no better either. He has over 15 listed holdings and I believe only 3 have made share holders money. They are his playthings. He makes his real money from currency trades these days.

You ask for positives. I think the last one was when Jim Mellon left the first time around to avoid embarrassment and the need to answer questions. Unfortunately he returned.

I’ve traded this when it was Seed, FFWD and Kahula. It’s been a good share to trade over the years. Never a long term investment more of a one to buy and sell with a couple of days of trading. It has until recently been a well ramped share and could possibly be in the furure. A one to make a quick profit on when a new batch of pump and dump crew work on it. Anyone who’s been here long enough know it’s only good for trading. It’s had so many shady underhand deals over the years it’s obvious it’s set up for the boys to use others cash. If it ever gets pumped again get out while you can.

Chazzy. You must be new here. Or have a very short memory. This may have a few more trades on a decent ramp fest on twitter or the likes. But it’s long term decline in NAV will not change.

I think at a quick count they have invested in 7 companies due to become multi billion pound companies. Factom the most famous. They invested £1m when it was looking quite promising. Then when they were struggling to keep the lights on and nobody would invest a penny in them Seed gave them £5 million. Their biggest investment also a SAFE investment as is this one. It was well publicised Factom were finished and yet they gave their buddies £5m, who would invest £5m in a conpany said to be finished. Yes Seed did like they always do. Invest in their own or their friends companies to give them cash and help them even with no possible return.

I don’t know why people hang on here. If they had of sold and taken a 50% loss a year or two back they would have probably made up their losses by now. It’s a mugs way of thinking that they haven’t lost if they haven’t sold yet. Sell and get the hell out. If this had a NAV of say 12p and there was hope in a change of sentiment then yes hang on. This will only lose money as it has consistently for nearly 10 years. If a pig flies by and this starts to make money, then Jim’s advisory company will take half the gains and wages will take most of the rest.

I think they are doing well to be at this price. It’s got a NAV of about 6p or a little under. A decent fund would be trading around 4.5p with a NAV at 6p. By the way this isn’t a decent fund.

J2300. You been locked into this for years ? What’s your average

Remember the last SAFE investment was £5m into Factom. Soon after written off. Let’s hope they have no involvement with this investment by means of investing in their friends, or should I say giving their friends cash. About F ing time.