Just read the annual report and it says
" On the 14 July 2020, the Group announced that it will invest up to $1,500,000 in the Fin-Tech start up - The 1derful Group Pty Ltd
(1derful) to own a strategic stake in 1derful. This will provide our shareholders with an opportunity to benefit from their success when
they launch their products towards the end of this year.
On the same day, the Group made an initial investment of $1,250,000 in 1derful subscribing to 1,250,000 of Convertible Notes at a
face value of $1.00 per note."
Now they use the word "Own stake" and then they talk about convertible notes. IMHO this doesn't sound like ownership or partnership but simply seems like investment in the company... IMHO. So if it is investment then what are the term of investment... and how it will give return to FFT SH? IMHO ownership has better advantage if 1derful succeed then investment as with ownership comes ability to share profit inline with amount owned into the company compare to investment where return is fixed and it doesn't matter whether 1derful turnout to be next afterpay or not but FFT return needs to be paid as agreed by 1derful unless they go bankrupt... does this sound correct?
Not sure why word "Owned" is used in the annual report as IMHO it sounds deceptive as in reality they have not disclosed how much % is owned in the 1derful and if they don't own it and simply investing then they are misguiding potential buyers IMHO? what everyone thinks? does any SH here clarified in email to the company as to how much % of 1derful is owned by FFT or what is the agreed return on investment?
Also one of the company announcement says 1derful choose Respring as an advisor and on 1derful website (
https://www.1derful.com.au/team) you don't see anyone from FFT I guess but then on FFT website they claim to have three platform including farmbuy, asset vision and 1derful... now if FFT doesn't own 1derful then how come it is their platform? and if they do own it then why they are not on 1derful website or why FFT has not declared how much they own in 1derful... very confusing... hope someone here might be able to clarify based on their discussion with FFT in past?
If FFT is not owning anything in 1derful then they only got farmbuy and asset vision and no one knows how much return they both will provided YOY in future... as FFT didn't disclosed any future potential revenue or profitability of both these firms... more read about this the more i get confused about whether i invest or not... !
(20min delay)