Member Info for Midas3316

Doggo. So you have the figures of 0.2% What does that work out to in monetary value ? As I don’t have inside information like yourself I’ve only seen the original offer that Inveniam made in April for Factom as a guide to its worth. It could be a lot more or less right now.

Vote for this if you think it’s right that SEED haven’t issued an RNS regarding Factom takeover.

Vote for this if you believe SEED should have issued a statement even if it is just to say they are in negotiations.

Ok. So let’s see people’s opinion here. Vote for the one you think best explains the Factom situation.

LB. 200k added. Recently. Though hold a lot more.

ICB. What part of the corporate process do I not understand ?

I’ll get doggo to put a couple of drops on your tongue

These negotiations started in April for the acquisition of Factom as publicly published ( not by FFWD ) . Followed by Inveniam almost a month ago confirming that they had acquired Factom. So back in April they were negotiating with Factom ( only known if you had researched it ) then start of August it was finalised. Yes maybe details to work out but all the same finalised. You don’t think that’s odd not for even an RNS to update shareholders.?? Maybe you should stick to be the hourly speaking clock for number of shares traded.

I think people understand that the chances of getting anything from Factom is probably zero. What people are saying it is typical of FFWD and now Seed to keep shareholders in the dark. Wouldn’t you even expect a statement of negotiations etc. Though they have been acquired already. Other shareholders in Factom announced in April that an offer had been made for the entire shares of Factom and now the company that made the offer has announced it.

??? ‘Think God those guys are on it “. Lol. What guys Wad?

Doggo. There are small shareholders in Factom ( a lot smaller than Seed ) posting announcements back in April about an offer for the entire shares of Factom and then almost a month back the company itself confirms that they have taken over Factom. Ed’s never heard anything about it. WTF. Not even an acknowledgment of negotiations.

I think it’s the fact that there has been no mention at all. In April this year another SMALLER shareholder of Factom inc announced that Factom had received an offer for the entire share capital of Factom - that was back in April - no mention of this from seed. Then almost a month back the company that had made that offer back in April announced that they had actually acquired Factom. Still not a peep from Factom - so everyone other than Seed can publish this news???!

At the time when the £5m safe agreement was agreed I questioned it then as a huge red flag, even though the local rampers talked it off, I was proven to be right.
Due to the poor management in the past I was hoping it would change with Ed. I’ve asked for answers about Factom. Ed doesn’t know anything about the deal. LOL. Anything is a bonus in return but I don’t believe there will be much if anything returned to SEED. Now I’m starting to think they don’t really want to say “well we might have got something from the £5m we
Invested in Factom’ but because we converted it to shares - because we are mates, the shareholders have been screwed!!
I don’t know. Maybe I’m still sceptical after watching the previous BOD look after mates and even ‘family’ before shareholders.

Rob. Factom was quite deep in debt at the time of chapter 11. Even though Seed own 30% of the company the debtors will come first. If for example they owe £10m to banks and debtors and they get £10m for the Patents etc. Seed would get nothing as the debtors would be paid out first. During chapter 11 it will all be decided by the courts who gets what. That’s why I’m thinking they will end up with nothing. I haven’t read all the chapter 11 paperwork but it’s normally the case. As a bond holder Seed might have received something at least, whereas as shareholders they will probably receive nothing - which to be fair it’s already written off on the balance sheet. It still doesn’t excuse the question “Why no information on a company you own a third of, which is widely publicised as being taken over by the other company!!!!

I’m pretty sure If Seed do get anything back from the Factom deal that it will be next to nothing. The safe investment back then was a huge red flag as the outcome has proven. I would be interested to see if the transfer from their £5m in debt into shares has been a shady deal. As shareholders always end up with nothing in these scenarios whereas debtors like bond holders are near the top and they changed their debt into shares. Wouldn’t surprise me. There has been many questionable deals over the years. I thought with Mellon out and Ed in it might change. Doesn’t look like it yet. He won’t reply to any questions about Factom. He’s not heard anything about the deal. Lol.

O’D has …..though I can’t believe I’m saying this..has made a couple of valid points. I’ve followed this for over 5 years. Big mistake I know. But until something major like the Leap sale appears, this isn’t going anywhere. It’s current NAV is around 11p. Just less than the last report. I’ve bought more recently and currently just into profit with it and do believe it is a very good bet at this price. Very little downside with potential for a decent increase in NAV. Though I wouldn’t pay anymore than 9p for this until something big appears, and the vast majority of the market seem to think the same.

What do you see happening in the months ahead. How well is the business doing ?

This share itself has been suspended several times. The BOD between them have 5 companies forced to delist for shady goings on in the past and they bought a company from their cousin for a value said to be many times what it’s worth. Being generous it has a NAV of less than 2p. Do you know what NAV is. Don’t get me wrong but are you that thing at the end of a bell??

Do tell oh wise one. What is wrong with the comments ??

Do you ever get mixed up and find yourself outdoors still wearing your mother’s panties on your head. After forgetting to change back from the works.