Member Info for reefles

Yeah… when I’ve bought into private equity via a broker, like with Northern Leaf through Chrystal Capital, I’ve had to self declare earnings over a certain threshold in the last tax year / that I’m a sophisticated investor. Equally, I can’t pay for crypto or shares with my credit card. The new regs for gambling probably won’t sting much more than that.

I'm not saying I disagree with EVERYTHING that has been written here today, but thanks to Gooner for actually talking sense.

For anyone who bothered to dial in / listen to the recording of the AGM in Sept, the Sept interims are NOT news. I've posted breakdowns of these holdings and NAV per share several times; I've shared these SINCE the reinvestments in Leap and SWB. Some people need to be careful with percentages, i.e. we're at c. 50% of NAV, therefore new holders should expect to quickly make 100%... although if you're basing this on interims, they're over two months old. (Whoever said wages had jumped up... No they haven't, not since we were told on Sept 22nd what they were; they're in the tracker I share round...)

SEED don't hold enough in Yooma for it to materially affect our SP, but I do agree that with Lorne as chair... the reason for Rhonda switching sides is not driven by SEED. I've mentioned this SO many times, around whether the family are shorting / moving to Yooma / moving to Peridot... or if there is an unofficial agreement around a big new investor coming in, who benefits from the price slump. See the delayed trades from yesterday that look like shorts... Someone's having a play.

Ed gets far too much grief for "wouldn't accept £50m for the company". For one, I'm not sure that he actually said calendar yearend, rather than financial. Either way, it was in context of the hidden value in Leap being realised. There are understandable delays with that, the market is down, but by financial yearend we could well be at £50m. The auditors haven't downgraded the holding value of Leap, suggesting it's still on track, and they're not going to present it at its sale value unless that's practically certain. Plus, that was as at the end of September, NOT as of today. It could be sold tomorrow for £75m and that would give us a market cap of £50m. Auditors aren't going to sign off on a gradual ramp up of its value.

Why are LTHs so special? I started researching / buying in about 10 months ago. I've got just over 550k shares at c. 8.5p avg. I think following investments is something there is a skill to, rather than something you "get a feel for" by sitting here years saying the same thing without even learning how to spell it. I used to really like this BB but it's becoming an echo chamber.

Yeah. I think we could win the Turner Prize if we record the online party, and display it alongside a scrolling history of the BB and share price. Then we’d actually make some money. (People’s perceptions of me are bang on, though…)

Do you think we should all get together on a Zoom call soon, for a SEED Shareholders’ Christmas Party? (Or Hanukkah-Christmas hybrid?)

Large delayed buy about to go through…??

From our daily 500k friend, d’ya think?

https://zoom.us/j/95008118382?pwd=UTNXZmN0UDhkQTJnWWlrSlE5S0t6QT09&from=addon

CiiTECH Investment Highlight

1. Trusted branded cannabis healthcare company with high-quality brands in market

etc.etc.

Steady on, Mat, that almost sounded obsequious!!

That was me, sorry, but I was joking. Looks to me like we’ve got a new major buyer picking up 500k chunks. 2nd at 8am today. I wonder if it was opportunistic or intended that they’d buy in after Rhonda had wrecked the share price. I bet the Abony family have all had their shorts on over the past few months, though!

Nope, not on SW Brands. Was it Wadnob who used to update us on them? The Northern Leaf IPO is apparently on track (originally meant for "back half of 2021") but is awaiting more liquidity in the market, per James Innes at Chrystal.

On liquidity, I heard a rumour that Rhonda had sold her final 500k shares. (It wasn't a rumour, I made it up...)

haha, £40k I mean.

Good to hear we're in the same ballpark. We've had a couple of re investments in SW Brands, but at some point I also took a look at terms of loan notes. It's because I'm also directly invested in Northern Leaf, and saw that the 10% interest that accrues on the CLNs is at the holder's option to be carried into the conversion shares or taken as cash. So, SEED have already made about £40 of accrued interest on Northern Leaf since yearend, etc. Most of SEED's CLN's are similar, at 8 or 10%. Obviously I've only adjusted Leap by the re investment amount. It should be higher, and certainly no lower (given the base from last March is audited). We're showing a big loss on Yooma, but it's not that material to the portfolio. Still definitely double digits on NAV per share.

And for anyone who missed my post about cash recently... I would expect action on Leap very soon, given how little cash Ed has left himself in the kitty after funding Leap again (which is funding to pay for Leap to bring in independent investment advisors for their IPO / sale)

No problem. I put Yooma in at 0.24 CAD from its listing on CNSX and fx rate 1.7 CAD:GBP

If you download the sheet, you'll be able to work out what most of the calc's are / adjust them on your own copy as underlying investments move. It shows how much we overlook Eurox compared to Yooma, etc. just because there's so much more in the news about it. It's holdings like Eurox that'll make us rich...

O'Donnell, you know I love you, but I do quite regularly share a tracker of all SEED's investments, which is:
a) based on audited figures from last year end
b) adjusted for the Sept 22nd update, esp re cash balances and running costs
c) updated for all further investments in the portfolio / partial sales
d) inclusive of accruing interest on our convertible loan notes
e) reflective of today's share prices for listed stock and exchange rate

No need to speculate what proportion of our share price is made up from each part. Obviously, the unlisted investments are likely to be seriously undervalued on my sheet, as there's nothing tangible to tie any movements to. Share and enjoy:

https://we.tl/t-njCaHKPUfV

Today's NAV / share is 10.54p on the basis above.

Good for them. ISO27001 is an absolute arse to get. I've had to get an energy supply SME its Competent Independent Org cert for accession to the Smart Grid, and that was a nightmare. ISO27001 is the next level up...

…but some good industry figures. Of course, SEED is the equivalent of an end-to-end investment:

https://primarybidassets.s3.eu-west-2.amazonaws.com/Equinox_Investor_Primer.pdf

Agreed. A green day on Google Finance, and no shift in share price after chewing up decent volume. I imagine a lot of people had shorts on SEED, with it being so public that Abony was selling, hence MMs so blatantly marching the share price down... but it looks as though that option is running out. I don't think there'll be much volume available to buy when the tables turn, so we should see some near vertical movement soon... in my humblests.

Not often we see a 400k sell on SEED. I won't make any more jokes about it feeling like passing a kidney stone, as I know this will be too close to the mark for a few on this BB.

Was that the handbrake coming off, though...?

Mat - maybe I need to revisit POCA, but I've spent a good few years in the Channel Isles and have seen how quickly the States will act to protect income to the islands. From what I've looked at over the last year, I thought Guernsey were basically battling to keep up with Jersey in securing a new market for themselves. I wouldn't have thought there'd be much objection to investing in non domestic recreational cannabis - especially if it's farmed at places like Northern Leaf!

Well good stuff. There was something on Radio 4 about it as well earlier. If it's good news for Eurox, it's probably great news for Northern Leaf. James Innes recently said he believes they're still on track for their IPO (originally meant for the end of this year) but are waiting for liquidity in the market...

Sorry Mat - great news, but thought it was announced last week:
https://www.politico.eu/article/future-german-coalition-agrees-to-legalize-cannabis/

Good news for Eurox, with a THC licence already in place. Still can't fathom who's selling and why? Is Abony planning to put the SEED monies into Yooma?? If so, it should mean an indirect bounce back for us.