Think its time to do a recap for new readers, investment community and existing holders of FFG so they can see at a glance all the recent activity and why i personally think we, FFG are undervalued as a whole - they are really building a superb portfolio of assets and at 8c its a bargain ...why?? read on.....
Quick Summary of whats been happening at FFG headquarters past 6-9 months :
1) 22 December 2017 ASX and Media Announcement
Fatfish Internet Group (ASX:FFG) to invest into CryptoFoundry, Singapore based Startup Providing Consultancy and Technology Services on Blockchain and Cryptocurrency Technologies Key Highlights: • FFG will invest SGD 350,000 into CryptoFoundry Pte. Ltd. (“CryptoFoundry”), a Singapore based startup that is providing consultancy and technology services in the area of blockchain and cryptocurrency technologies.
• FFG will own 60% of CryptoFoundry upon completion of the investment
• CryptoFoundry will provide services on projects related to the use of blockchain and cryptocurrency in multiple application verticals including but not limited to banking, payment and remittance, Initial Coin Offering (ICO), trading settlement and digital asset management.
• CryptoFoundry has started its operation and is currently in advanced discussion to provide its services to 3 potential clients that are looking to launch projects in the blockchain and cruyptocurrency space. The $1 m USD investment in Singapore crypto exchange KRYPTOS-X will give FFG a 27% shareholding in the exchange and expose us to - The new venture will provide FFG with exposure to the US$1.46 trillion (annually) cryptocurrency trading industry
The proposed transaction will see FFG and Mr Mackay enter into a joint venture arrangement. FFG will be issued with preference shares in the capital of the holding company which will own and operate the electronic exchange and marketplace. Tony Mackay will join the board of FFG as Non-Executive Director
2) 6 November 2017 ASX Announcement FFG’s Swedish Subsidiary Acquires 51% of iSecrets AB
• FFG’s Swedish Subsidiary Fatfish Global Ventures AB acquires 51% iSecrets AB
• iSecrets AB operates fast-growing e-commerce site iSecrets.SE that focusses on young consumers market of Sweden
• Plan to scale up iSecrets AB’s business through expansion of product line and geographical expansion Fatfish Internet Group Ltd (ASX code: FFG) is pleased to announce that its venture builder arm and Swedish subsidiary, Fatfish Global Ventures AB (publ)(“FGV”), has acquired 51% stake in fast-growing Swedish e-commerce company iSecrets AB.
The acquisition is for a total consideration SEK 8,160,000 (A$ 1.26million), of which SEK2,500,000 (A$387,470) will be satisfied in cash whereas the remaining consideration will be satisfied through issuance of new ordinary shares of FGV. iSecrets AB operates iSecrets.se, a fast growing e-commerce site that targets young consumers in Sweden . iSecrets AB‘s unique proposition is its focus on spotting new consumer trend early and sell trending merchandize online for the fast-paced consumer trend.
The site currently sells design focused phone and tablet accessories, clothing, bags and other items; its target audience is consumers between age 16 to 30 years old. The company is planning to rapidly expand its product line. FGV’s involvement in the company will see it helping to expand the business of iSecrets AB by introducing international partnership to iSecrets AB, bringing e-commerce merchants from outside of Sweden that will partner with iSecrets to sell products online in the Swedish market via iSecrets AB’s existing digital storefront, marketing and logistic capabilities. Fatfish is also interested to explore expanding iSecret
AB’s e-commerce activities to outside of Sweden, in particular the other Scandinavian markets beyond Sweden.
3) 18 December 2017 ASX and Media Announcement
Fatfish Internet Group Ltd (ASX:FFG) to invest into Altarian Holdings Limited, UK based blockchain and cryptocurrency focussed fintech venture builder
• FFG will invest US$ 250,000 into Altairian Holdings Limited, a UK based fintech venture builder that is planning to launch several financial service businenesses that are regulated and dedicated to the blockchain and cryptocurrency space. In the first instance, it will launch a UK Financial Conduct Authority (FCA) regulated Asset Management Company (AMC) focussing on cryptocurrencies, and look to add further exposure in the space with digital currencies based Roboadvisors and Prime Brokerage businesses.
• AMC will initially offer its services in the UK as an Asset Manager in accordance with FCA guidelines, targeting professional investors seeking to invest in the cryptocurrency space, offering a range of passive, index-linked and active funds.
• FFG will invest US$500,000 into the AMC’s flagship fund, the “Global Currencies Fund”
• The investment places FFG amongst the vanguard of companies pioneering cryptocurrency transactions between institutional investors in the UK regulated environment.
• Altairian Holdings Limited is founded by Michael Collett (ex Lehman Bros., Merrill Lynch and Jefferies) and James Harris (ex Citigroup, Standard Chartered and Richard Chandler Corp.)
4) 5 December 2017 ASX and Media Announcement
APPOINTMENT OF PHILLIP LORD AS DIRECTOR OF CRYPTO FINANCIAL MARKETS Fatfish Internet Group Limited (ASX Code: FFG) (“the Company”), an international internet venture development firm, is pleased to announce the appointment of Phillip Lord as its Director of Crypto Financial Markets. Phillip, who has more than 20 years of extensive investment bank experience in Asia and Europe.
He was was formerly the Managing Director of Jefferies & Nomura, working in Tokyo, Hong Kong, Singapore & London. As Director of Crypto Financial Markets, Phillip will lead the Company’s strategy into the blockchain and decentralized digital cryptographic asset technology area, a fast growing space that the Company is very interested in. Phillip has been instrumental in assisting and facilititaing the Company’s investment into Kryptos-X cryptocurrency exchange founded by Tony Mackay that was announced earlier.
5) 25 July 2017 ASX Announcement
Further Investment To Increase Shareholding In Fintech Asia Group and Potential Collaboration on Blockchain Technology Fatfish Internet Group Ltd (ASX:FFG)(“Fatfish”) hereby announces that it is increasing its shareholding in Southeast Asia based Fintech Asia Group Ltd (“Fintech Asia”) from existing 45% to 49% of Fintech Asia’s issued capital via a further committed investment of USD 400,000 (approximately AUD 502,900).
The valuation of Fintech Asia is arrived on a willing seller and willing buyer basis, based on comparable valuation of peers of Fintech Asia’s portfolio of companies. Fintech Asia is fintech venture builder and investor that holds a portfolio of companies in Southeast Asia including online insurance marketplace RajaPremi in Indonesia and p2p lending platform SmartFunding in Singapore.
The management of Fintech Asia further agrees to collaborate with Fatfish to explore mutual interest in the blockchain technology, including but not limited, to potentially assist Fatfish’s investee companies in working with offering of cryptocurrencies.
6) 10 Feb 2017 ASX Announcement
Fatfish Internet Group Ltd’s investee company iFashion Group acquires MegaFash
iFashion expands its acquisitions to include four major lifestyle and fashion brands
In addition to strengthening iFashion’s portfolio and paving the way to securing an IPO, this acquisition will bring them one step closer to becoming Southeast Asia’s leading online fashion retailer
Megafash works with over 2,000 indie brands from all over the world, 30% of which are sold exclusively at Megafash
Their annualised gross merchandise revenue for 2016 is estimated to be S$ 8m; their revenue has grown five times since 2015
Jeremy Khoo is the newly appointed CEO of iFashion group Fatfish Internet Group Ltd (FFG)’s investee company iFashion Group today announces the acquisition of Megafash, Singapore’s prime lifestyle marketplace for S$3.15 million, in a cash and shares deal.
Less than two years since its launch in December 2015, Megafash has established itself as one of the most prominent and respected lifestyle brands in Singapore. Megafash has a strong presence in both physical and ecommerce platform, with 7 stores operating in more than 15,000 sq. ft. of retail space, a strong international following and operations in Indonesia and Thailand. Despite having more than 300,000 unique products in their stores,
Megafash maintains their standard as a curated marketplace by ensuring that every product is in line with their vision to surprise, delight and excite the consumers.
Megafash works with more than 2,000 indie brands from all over the world, in fact, 30% of their in-store brands are sold exclusively at Megafash. The brands sold in Megafash undergo regular curation to ensure that only the top performing brands remain on the shelves.
7) 3 January 2018 ICandy Update: (ASX: ICI)
Animoca Brands Corporation Limited (ASX: AB1, the Company or Animoca Brands) is pleased to provide clarification about its sale of mobile games (the Transaction) to iCandy Interactive Limited (ASX: ICI, iCandy). The Transaction is expected to complete in Q1 2018 subject to iCandy shareholder approval and fulfillment of customary closing conditions, after which iCandy will pay to Animoca Brands an upfront consideration of AUD 1 million in cash and AUD 4 million in ICI shares at a fixed valuation of AUD 0.16 per share (or 25,000,000 shares in total). In addition to the upfront consideration described above, Animoca Brands will also receive deferred payments of up to AUD 3 million in 2018 and 2019, subject to revenue hurdles and payable in iCandy shares, as well as earn-out payments on profit generated by the games sold for a period of five years after the closing of the Transaction. Details about the Transaction were set out previously in the Company’s announcements dated 15 November 2017, 23 November 2017, and 27 December 2017.
8) . Fatfish Internet Group Ltd (ASX:FFG) to invest into Cryptocurrency Exchange Project founded by Tony Mackay
• FFG will invest US$1 million into start-up project Kryptos-X, a virtual currency exchange to be set up by Australian entrepreneur Tony Mackay in Singapore. • Kryptos-X will initially be offering services in Singapore in accordance with the Singaporean regulatory framework for digital token offerings, with expansion into other jurisdictions expected in the future.
The new venture will provide FFG with exposure to the US$1.46 trillion (annually) cryptocurrency trading industry.
• Tony Mackay is best known as the founding CEO and Chairman of Chi-X Europe and Global, the alternative stock trading platforms that disrupted securities trading across Europe, Australia, Canada, and Japan. • Tony Mackay will be appointed as a Non-Executive Director to FFG following the investment to advise and assist FFG in developing further applications of blockchain and cryptocurrency technology in the global financial market.
Info on ICI / Nitro deal (ASX: ICI)
Cryptocurrency Initiative #1: Nitro
Nitro is a global blockchain-based platform that empowers everyone from game studios, publishers, gamers, and financiers to become involved in the US$100billion+ video games economy. By bringing together the entire ecosystem of stakeholders, iCandy hopes to democratize and revolutionize the video game industry through the creation of a new cryptocurrency called NOX, and an integrated online marketplace called Nitro Marketplace.
iCandy is backing Nitro as its main corporate partner to market and publish NITRO funded games. In the graphic below, we highlight the roles different stakeholders have in the Nitro platform: This document is not a recommendation to buy or sell any securities. . ã Insyte Intelligence LLC, Delaware, USA 6 Insyte Intelligence Coverage Initiation Nitro Connects Multiple Video Game Stakeholders Source: Company Filings, Insyte
The process starts with gamers voting for games they would like to be developed on the platform, with the successful game-titles being funded via NOX (cryptocurrency). From there, game studios, financiers, and publishers get involved to develop and bring-to-market the chosen game with gamers providing feedback and interacting with the platform as it is developed. Importantly, iCandy Nitro receives revenue from Nitro in the form of 3,000,000 NOX per year, which allows it to fund new games, and offset its marketing & other operational costs.
Another benefit to the platform is that it opens the doors for Nitro to launch multiple initial coin offerings (ICOs) to consistently fund new game developments and acquire high potential companies without diluting existing equity holders. Below, we show how the Nitro platform works in three steps: 1. Gamers purchasing NOX (cryptocurrency) and funding their choice of game titles 2. Connecting the funded games to other stakeholders in the ecosystem 3. Growing the Nitro Economy via revenue share schemes and rewards
(20min delay)