Longlad and Fatman10 Dec 2022 10:02
Are more or less correct in what they say.
With time to spare I am sat here listening to radio 4, in the far north (of Scotland) reading and seeing how cold it is around the UK, with my last home in Devon getting to -7 degrees. Usually here, there is a bitter cold or very strong wind, this summer we did have a few warm and on occasions even sunny day's.. I have just popped out side in to the wet drizzly weather with the temperature of 4 degrees, expecting a high of only 5 during the day. So enjoy your cold spell. We envy you !!!!!!!!!!!!!!!! If you wish to get away from this cold weather you can purchase my bungalow for £160k+, so I can return to freezing Devon. While sat I thought i would see if there were posted comments on yesterdays sales.
Back to Seed, summing up: We (the shareholders) were completely mislaid by the BOD both with the value of Leap and its forthcoming IPO.
An SP of 20p was suggested based on Eds valuation of Leap. I must admit I did not think a company doing so well yet was not making a profit left me puzzled as to how they came to that conclusion and why it was valued so highly, plus the fact the BOD are not buying in, i thought that those wiser (I thought) and more knowledgably (thought again) who said other companies not making money were sold for exaggerated prices, I accepted what they said and invested in to FFWD / SEED to my regret and waste of time.
With a NAV of about 6-7p it looks a good buy with a offer price of 2.25p, which does surprise me in a way, yet I did say recently I would not be surprised to see it under 2p and regrettably I have not changed my mind, with it losing me even more money.
However based on the sales of firms in the portfolio which were well down on the expected price, can we really expect that if the portfolio was sold off and the Trust closed down with the money received from these sales going to shareholder's it would realise 6-7p per share. I highly doubt it based on previous sales and what potential buyers thought of Ed. I think 4p each would be more likely the amount we would receive, sorry to be so pessimistic after my years of saying FFWD/SEED was a good buy.
At 2.25p to buy in it would give a decent return. I am not buying in yet as I think it will go lower and Ed would NOT sell it while raking in a over paid salary. In fact Ed may sell each member of our portfolio to continue to have sufficient money to continue paying themselves until nothing is left in the portfolio.
I have read what I have written and think is this really a possibility? I do hope not, but do you think Seed will be rescued ? If the cannabis stocks grow making Seed being a stock to buy in to. We do need large purchases NOW to begin the rescue and if they do buy in then Seed can grow, especially if the money from Leap is invested wisely in cannabis related stocks. and the SP climb back to 6p plus.A 50% chance either way. What do I think what will happen? To be continued like a rotten long book!!