Hi all,
Thank you to every one who has posted on the Ookami threads.
I have, respectfully, reached a different opinion on Ookami to others. In my opinion, Ookami may not be a vehicle for a RTO. I will try to explain my reasoning:
If you look at the prospectus (2015) one of the words that you will see is crowdfunding.
By way of background, the crowd-sourced funding bill (2015) lapsed at dissolution on 9 May 2016.
Interestingly, Gavin ceased to be a substantial holder not long thereafter in early June 2016.
We had some substantial volume increases around the beginning of this month. Coincidently, the crowd-sourced funding regime will take effect from 29 September 2017, after a CSF Bill (2016) was reintroduced for a second time and received Royal Assent earlier this year (From 29 September, ASIC can accept applications from intermediaries to provide crowd-sourced funding services. The Akela website says that it will be used, inter alia, for start-ups so it may be inferred that it could be used for crowdfunding).
There has been a question of Ookami's delay on these threads. One possibility seems to be that they are waiting for the crowd-sourced funding regime to take effect. That may be an explanation consistent with the prospectus.
Now back to whether Ookami may be planning a RTO...
In the prospectus, and announcements, etc, you will see the word portfolio. At the moment, Ookami have Akela in that portfolio. It would seem to me to be an unusual use of the word 'portfolio', to mean only two assets (i.e Akela + one other asset only). The prospectus also refers to the effect of Ookami taking appropriate portfolio risk management strategies.
In the announcements, etc, there are words to the effect that Ookami are evaluating a number of complementary business acquisitions. That seems to have been interpreted on these threads as meaning that Ookami will choose one business to vend (probably influenced by Otsana's previous history of RTOs). I note, however, that another interpretation may be that Ookami are planning to acquire (or hold an interest in) more than one asset.
If you do a google search, you will see that Faldi stated an intention (in 2011) to have a $100 million private investment fund within 5 years. That would likely involve a portfolio of many assets.
It seems possible therefore that Ookami may be planning to use crowdfunding as a way to build a portfolio. For example, Ookami could be given a ten per cent interest in a company for doing the raise, and/or invest some of their money alongside investors.
Otsana, Ookami and Akela all mean wolf, which has important symbolism to Faldi. Ookami and Akela would therefore seem to be suitable names for such a fund.
Otsana follow iAngels on Twitter, an Israeli online crowdfunding platform. Otsana may be aiming to develop something similar to that in Australia with Ookami/Akela, or something similar to OurCrowd, but including for retail investors.
The top 20, in my opinion, is consistent with such a business. Large shareholders are the otsana crew (the capital raisers), Peter Wall (the lawyer) and Freeman Road (the angel investor).
It should go without saying, of course, that Ookami may not be a crowdfunding/venture capital play. Otsana could still vend in a singular acquisition. However, there seem to be some consistencies and corroborative evidence that support the proposition that this could be a crowdfunding/venture capital play (although there is obviously some speculation involved as well).
In any event, it seems possible that Akela could potentially be used for crowdfunding.
I read the references to blockchain, cryptocurrency and smart contracts somewhat differently to others on this thread. To me, they appear to be technologies that may be complementary to the use of Akela, and not necessarily the exclusive focus of a seperate business to be vended in (although given Ookami's stated intention of a technology portfolio, it may not be surprising that they are indeed looking at businesses in those areas). It may be of note that the ICO conference that Otsana attended on Friday was on crowdfunding in the blockchain industry.
This is all in my opinion only, and not financial/investment advice. Please do your own research. GLTAH.
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