Digging deeper into the investment it looks like the original investment in Medio Labs was made in 2021 of around $2.5m. So all that is lost. This was part of HGV's "pivot" away from its disastrous all in investment in the cannabis industry. In one of its announcements HGV stated:
Investors should use Medio Labs as a template for future private investments; investment horizon of approximately 18 months in growth stocks that can change industry standards.
Well that went well. HGV still valuing its stake in Weed Me at a multiple of revenue. So it looks like the investment in a business that comprises around 50% of HGV's total investments is still being valued not on earnings but revenue. That's applicable to start ups gearing up for an IPO but Weed Me is long past that point. Is it actually generating a profit?
Ann: Half Year Accounts, page-3
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