Member Info for reefles

I've emailed. It's a pretty big mistake to make. If Yooma is currently (massively undervalued) at $100m CAD, that's about £60m GBP. So the mystery 0.6% is worth c. £360k. I have about 0.25% in SEED, so it's about £1,000 of my personal holding, which is not insignificant to me... especially as I'm hoping for Yooma to grow quickly.

Haha, I'm not THAT dim! I meant... were we expecting to have offloaded Leap in time to put an extra £5m into Yooma, (the deal could have been structured with a down-payment before completion of due diligence etc.) and if so, does this now confirm that we missed the opportunity? (i.e. things not proceeding as planned with Leap.)

If not, this presumably means Yooma could still use an extra £5m, and we'll soon have this in the bank. An opportunity...?

But really, I guess I was tutting at the confusing reporting, which implied our previous shareholding in Yooma would be diluted from 5.1% to 4.5% if the strategic investor exercised their option. Given that they haven't, it's either an odd coincidence or really lazy proof-reading to open today's RNS with "we have 4.5% of Yooma... they didn't dilute us, though". Did we lose 0.6% of Yooma behind the sofa?!

Sorry - should have said that today's RNS started out with:

"SEED has a holding of 4,427,609 ordinary shares in Yooma representing approximately 4.5% of Yooma's issued share capital."

I think it's just sloppy reporting and we have 5.1%

First, is this us....?

"Yooma also announced today that the option it had granted to a strategic investor to subscribe for up to 9,555,555 common shares and 4,777,777 warrants for common shares of Yooma in connection with its UK financing and dual-listing on the Aquis Stock Exchange Growth Market has expired without being exercised. The option was granted to provide time for the strategic investor to structure its proposed holding structure for the investment, which the investor was unable to complete within the agreed time frame."

This seems in conflict with the RNS on Aug 3rd, which said:

"The Company currently has an equity interest in Yooma of 5.1% and expects to have a shareholding on admission of 4,427,609 common shares representing c. 5% of the issued share capital of Yooma on admission. As announced by Yooma on 26 July, Yooma granted a single strategic investor an option to acquire shares to a value of £5 million (gross) exercisable on or before 17 September 2021 (the 'Option'). Should the Option be exercised, SEED's shareholding will reduce to c. 4.5%."

So.... do we own 5.1% or 4.5%...? I mean, not that anyone cares about these little differences?!

Mat d'or - yes, I like that. At first, I thought your weary was a typo for wary, but you're spot on. I'm both, but I'm actually more weary than I am wary, when I think about it. The gap to NAV will surely close, but I'm sick of juggling liquidity and wondering when we'll see an alignment of investment monies to sound opportunities, rather than speculations and gambles.

I think the novel's called Donkey Oaty... but it's pretty depraved if you read the untranslated Guernsey version. When the French have censored something, before passing it on to the Spanish for sanitisation, you know you're several levels up from the Marquis de Sade. Honestly, don't ever go to Guernsey.

I hate to disagree, Mat d'or, and I know it's not really your point... but JERSEY is nice this time of year.

Guernsey is an incestuous donkey orgy, this time of year. The SEEDsters will do well to watch their backs if they're off to Spitter Pot for their board meeting. Let's hope it's remote, or they protect themselves with some kind of a lance.

In this episode, Chris Day from the Global Cannabis Network Collective talks with Fleta Solomon, the Managing Director of the publicly traded Little Green Pharma about putting patients first, making sound business decisions and how focusing on delivering against their promises has made LGP one of the biggest movers in European and Australian cannabis markets. Listen to their full conversation at TRICHOMES.com: https://bit.ly/TICCep22

O'Donnell - it'll likely be another dull day on the markets. Not so much like watching paint dry, more like watching it peel off in flakes... so, just wanted to wish you and the good lady wife all the best with medical appointments today.

If any big new buyers arrive on the scene, I'll politely ask them to hold off until we can all enjoy the surge. GLA - especially Mrs O'Donnell.

Yes, my Reapy friend! I am smoking SO much more than pre-lockdown. It's a tragedy...

Now, if someone was to legalise recreational CBD / THC vaping in the UK, it might be a different story... but for the moment we're all in the same boat, aren't we...? Finding platforms that allow BTC transfers to darknet marketplaces like we were living through a modern day dark age, so that - while we might be funding international narco gangs - at least we're not actively buying from kids on street corners.

No...? Just me??

Well the discount on the SP is just getting ridiculous. I worry that new investors don't believe the hype, because it seems too good to be true. But that tracker is about as prudent as it could be. Even if you only factor in the discount we get on the convertible loans when those companies float, it takes NAV up further to 12.4p. That doesn't assume growth in the value of ANY holdings - it's as of today. Yooma and LGP are ripe to re-rate, and I've shown Eurox at cost despite its recent successes... it really feels like there's at least 30% between NAV and SP.

Here's a link to a quick spreadsheet I've made from the March 21 financials, known deals that FFWD / SEED have done since, and current prices for the listed holdings / approximate interest accruals on loan notes. It's not meant to be spot on, and I can't vouch for accuracy. It's just a toy. I've shown a total guess for Factom yielding £100k. I haven't shown any operating expenses against the cash balance. Other than that, it's prudent... and shows NAV of over 11.9p / share.

If Leap is worth £23m, as people are saying, it takes NAV to 18.3p

https://we.tl/t-3zBchBNWYC

I was just looking back through recent RNSs to update my tracker. I'll share it around when I'm done... but just clocked this. Might mean a bit of excitement? (Relatively speaking, of course!)

The Company currently has an equity interest in Yooma of 5.1% and expects to have a shareholding on admission of 4,427,609 common shares representing c. 5% of the issued share capital of Yooma on admission. As announced by Yooma on 26 July, Yooma granted a single strategic investor an option to acquire shares to a value of £5 million (gross) exercisable on or before 17 September 2021 (the 'Option'). Should the Option be exercised, SEED's shareholding will reduce to c. 4.5%.

Which do you think is more likely? Bezos and Altos Labs buying out Mr Mellon's Juvenescence... or LGP buying out Northern Leaf?

Gooner - you're going to have A J Bell on your back for breaching etiquette!

I think I trust everyone... apart from whoever it is that is making trades of < £25.

I wouldn't trust them to look after my cactus; and my cactus can look after itself; I also don't care about it; and I stole it. My cactus has had a hard life, never made any friends, and will be missed by nobody... yet I wouldn't put it in the hands of the sort of pervert who deals 59 shares at a time. What IS that?!

Wow - that's a chunky sell that's just gone through. Our largest single tranche on here for a long while...?? Presumably this was being filled yesterday and explains the continually sliding prices (and thus the avg strike price is not massively relevant to today's price of smaller trades). Did anyone else register a sell going through at 16:30 yesterday? It showed on Google's summary tracker, but not the detailed chart that shows volumes. This often seems to happen with UTs or part-filled orders, but does anyone have more detail?

I also wondered whether this 302k sell means we're waving goodbye to any of our treasured regulars...?

I might have heard THE WORKS over the tannoy at one point...!

Recording available here: https://www.lsegissuerservices.com/spark/cannabis-capital-markets-forum-2021

(Scroll down past agenda, to just under the bit saying "recording available soon"... it's already up.)

Make sure you aren't operating heavy machinery when watching, though. About 40% is war stories on market regulation.

Nope. LGP came across really well. Everyone else was dull and predictable. Ed came across better than most and did a reasonable pitch, but they were all mostly talking about the wider market than their specific operations (apart from LGP - she was great). There wasn't any news. Only briefest mention of the likes of Northern Leaf (that I picked up on). But it wasn't as big an event as I was expecting. Apparently 250 attendants registered online, and - pffft - 75 in the audience (??)

I think the press release on here today about our investment in LGP will have more impact on volume tomorrow. Trading today was picking up well ahead of the meeting, so I guess we're just slowly onwards and upwards...