interesting perspective & i think potentially brilliant!
let's see if ICI's largest SH is potentially undervalued; here's some calcs & DD i've previously done on FFG:
1) FFG owns ~35% of ICI which makes the holding worth $19.34M, given that ICI's MC @ 9.5¢ currently is $55.27M
2) FFG's MC @ current SP of 5.5¢ is $54.91M:
3) therefore FFG's other holdings are being valued by the market @ $35.57M (54.91 - 19.34)
4) FFG recently raised $8M cash (@ 7¢) meaning FFG's other holdings (non-cash) are currently being valued by the market @ $27.57M (35.57 - 8)
5) FFG's other holdings include: Forever Pay (100% owned by FFG) Smartfunding (89.4% owned by FFG) Pay Direct (55% owned by FFG) - processes $32 million in monthly transactions. iHarap (100% owned by FFG) Fatberry (61% owned by FFG) - "logging an average 478% QoQ growth rate" Abelco (50.1% owned by FFG) - has investments in 21 companies. PaySlowSlow (100% owned by FFG) & many more...
6) according to FFG's recent half-yearly (which was prior to the $8M CR) shows total assets stood @ $20.46M:
7) FFG has recently stated that multiple of their recent investments are experiencing exponential growth, such as Fatberry: "The September monthly gross sales were $905,932, representing 37.42% growth over the previous month of August" & "year-to-date gross sales stand at around $4.76M" , & PaySlowSlow signed up 87 new merchants in two weeks.
8) i think FFG is extremely undervalued @ $27.57M (which excludes iCandy & cash holdings)
thanks @budobank, & i'm interested in how others see this...
