Member Info for Midas3316

Longlad. Ed will still continue to make bullish comments / interviews. Because he couldn’t care less

Mat. Leap might have lost 2 Turtle Doves and a Partridge in pear tree over the last two years. But who are the owners of Leap??? Seed are by far the biggest shareholders with Ed and Lorne on board. They may have had many problems over the last two years as you say but they have probably also achieved more in the last two years than anytime in their history.

It’s all one big family. Wouldn’t be surprised if they are the ones buying Leap - at a special discount. They’ve all worked together in the past.

Ed has done his Forefathers of FFWD proud. Continued on with the tradition of shafting investors. They must be proud of him.

Longlad. I really couldn’t see this continuing as a fund. It’s never going to get within a mile of the NAV ever again. The NAV will be around 8p- without any hidden value, nothing left that could give this a boost. Why pay anything near that ? If they were to liquidate they might get 7p a share after costs - of course in around 18 months time.

Longlad. You’re right. The number of clues were out there. Ed not buying even at this low level, Lorne cashing in his / mothers shares, Leap taking forever to sell / IPO and last but not least Leap needing a tiny loan this far down the line. Oh well….Another failure for Seed. I thought these guys were experts, I should have stuck with my own investments.

My own fault again………look back to where I said to Ed at the time of the £50m mcap talk interview. I said Ed. So you are thinking Leap is going to take Seed to a £50m mcap ( as nothing else could feasibly ) his reply was a delusional -Oh no it’s the cannabis investments that will do that ). Along with the other quote from Ed “ I don’t care what people think of me “

We should have known better. I’ve said for over 7 years that this has been a total POS. After many total write offs, many shady mates deals like Factom and Moon. The only reason I bought back in this last time around was in the hope of Leap giving this a good boost and maybe getting the share price up to 10p or so and double my money. Even incompetent Ed couldn’t screw that up surely I thought !! Well I’ll have to wait to just try and recover my investment at this point. Again I really do find this pricing cheap- we will never find out the truth. Like I said previously I invested in a local company seed round at a valuation of £2m just 3 years back, a recruitment company for programmers that work for the likes of Leap. They said from the start they expected to sell in about 5 years from formation for at least £20m. They are already getting confirmed offers for over £12m. They are doing well but they don’t seem to be anywhere near Leap. I never once believed and always stated that Ed’s £50m mcap was the usual shyte talk. Investing in a company like Leap which has come so far in the last 6 years or so,should have given returns of at least 5 times their investment over the years - even then in PE terms it wouldn’t have been classed as outstanding. They could have achieved a better return in a savings account.

Yea. Another deal for the boys.

My question is ….what the hell has been going on the last 2 years??? Barwick said many times - whichI also agreed with - they have missed the sweet spot to sell. They had the chance and the time - they need to be grilled on what’s been happening ???? Supposedly looking at an IPO - or sale ???

So at last accounts they had already reduced the value of Leap - this was done via independent valuation professionals Scalar. March 2022

Then they said yesterday

from those parties who have expressed an interest in the purchase of Leap via an M&A transaction, the Board of SEED have re-assessed the likely realisable value of Leap as being in the region of €16 million, inferring the Company's investment in Leap at 31 August 2022 to be worth £6,069,000 at the current time (valuation as at 31 March 2022: £8,270,000).

What they are saying is - These figures are what we are being offered for Leap by the interested parties It doesn’t matter who is bidding, it’s the value of the bidding that would make the BOD “inside” this figure is the latest value - just a couple of days old - they are not inside anymore. .

Top of my head I think it’s just under £5m over the years.

Ed through his own admission has had countless occasions where he could have bought Seed but wanted to wait until he could get a sizeable amount pmsl….lol. . Ed isn’t inside. If that was the case no BOD could ever buy shares in their company, just like any regular director he is only inside prior to accounts and release of any inside news. He isn’t inside

doggo
Posted in: SEED
Posts: 6,093
Price: 4.05
No Opinion
RE: ???????????16 Aug 2022 15:58
Even better one of the Chuckle brothers…
Why remove the current BOD Midas.

Convince me and I’ll get it done.

Probably close to the mark as that same 3% was sold for £50m less than 18 months later.

This really is very similar to the Moon active deal. They sold their 3% for £500k. At a time when Moon revenues were 10’s of £million per month and increasing. Sh@re prophets and Hib had thought their share was worth around £5m at the time - which was

I wonder what Ed has been doing over the last almost 2 years.

Ian Burns, Chairman of FastForward, commented: "We are delighted that Ed has been appointed to the Board of Leap Gaming as a Non-Executive Director. Leap is an extremely exciting asset for FastForward and has seen significant growth, continually expanding its extensive list of partnerships and agreements with the addition of major gaming clients such as 888 and Every Matrix among others. Ed's wealth of financial and London markets experience will be invaluable to Yariv and the team as they begin the IPO process in 2021. I look forward to providing further updates on the next steps for Leap Gaming."

Many of us also mentioned the red flag of that tiny loan - “oh it’s for the licences etc”. Even so, they didn’t even have £100k. That wasn’t a good sign. Just like Factom, when FFWD were the only people on the planet would give them anymore money - £5m that time around. Lol

We all knew that Leap wouldn’t have the value that the likes of Doggo and co ramped about, but I did think it would have a total value in the region of £30m. or even a bit more. Three years back I invested in a seed round of a local company who are basically a job site for gaming and esports programmers. Just a small local business with a couple of college mates. Even now the team is less than a dozen even that it’s in several countries. I invested in the first round 3 years back with a valuation of £2m which I thought was quite high due to it being such early stage. Three years on its doing really well, still a tiny team, very small revenues - yet Investors have just been informed they are getting serious offers already for £10-£12m plus. Comparing the two companies I would have expected Leap to be way in front. I know the competition for slots and games etc for the likes of Leap is huge, literally hundreds doing the same as Leap - but the value still feels incredibly small. Just like moon did back then !!

Sounds like Ed’s pre warning that it’s about to be sold cheap. Funny how they release an RNS with an updated valuation outside of the normal annual and interim reports. Don’t think I’ve ever seen that here.