OK... I started my research tonight to decide how many options to exercise (average cost 0.1 cents). Also, naturally, I would be grateful for the input of other more knowledgeable shareholders.
* 1,602,960,556 shares on issue (if all current options are exercised)
* 292,257,907 options exercisable at 3 cents; expiring 24 months after issue; potential proceeds $8,767,737
* 120,000,000 milestone shares (60 million each for Blockchain Global Limited and Anoosh Manzoori)
* Total script 2,015,218,463
* Cash balance at 31/3/18 around $10,344,384
* Also, the balance sheet of 30/6/17 had $1,280,000 in assets that probably still exist in whole or in part
* Blockchain Global Limited (BCG) will invest $1,403,728 into the placement at 1.22 cents per share and potentially $4,346,142 in underwriting 50% of the current options at 2 cents each. Total investment $5,749,870, at average of 1.63 cents per share (including their placement fee).
* Including milestone shares (received if share price exceeds 3, 4 & 5 cents for 20 straight days each) and options, BCG may hold 26.2% of FGF
* Anoosh Manzoori may hold 3.5% of FGF
* Blockchain Global Limited is a leading global pure-play Blockchain Technology commercialisation and investment company. Founded in 2014, the company’s investments have ensured year on year profitability. Most recently, Blockchain Global and strategic investors have acquired a 40% interest in DigitalX (ASX: DCC), the world’s first listed Blockchain company. To capitalise on the extensive IP from operating blockchain auditing infrastructure across 3 facilities, Blockchain Global in 2016 expanded operations beyond providing auditing services for the Bitcoin network, through the material revenue growth for its management consulting division and corporate incubation program. Blockchain Global also operates Australia’s largest crypto currency exchange called ACX.io
* As announced by the Company on 14 & 20 December 2017, the Company has appointed Mr Anoosh Manzoori as an executive Director of the Company. Mr Manzoori has been actively involved in the emerging blockchain and cryptocurrency market where he has advised one of the largest BitCoin mining companies in Australia and is also a strategic advisor to a Melbourne based blockchain software company. He is also an active investor in the sector. Mr Manzoori brings to the Board and the Company a wealth of experience in technology and investment advisory. He is the CEO of Shape Capital Pty Ltd, an advisory and venture investment firm, and an Expert Network Member, supporting local innovative companies under the Department of Industry, Innovation and Science program. His experience includes capital raising and M&A across a number of industries with a particular focus on the technology sector. Mr Manzoori is also a Non‐Executive Director of CCP Technologies Limited (ASX: CT1). Mr Manzoori was previously the founder and CEO of one of Australia’s largest cloud hosting companies reaching over 75,000 customers before selling the company to MYOB Limited in 2008. Given Mr Manzoori’s skills and the expertise that he will bring to the board and the Company, the Company proposes to incentivise and remunerate him through the issue to him (or his nominee), subject to all necessary shareholder or regulatory approvals being obtained, of 10,000,000 Options (Manzoori Options) and, if certain targets are achieved by Mr Manzoori, 60,000,000 Milestone Shares (Manzoori Milestone Shares).
* Manzoori's 60 million Milestone Shares vest 15 million at a time when:
(i) Set up an advisory business unit (ABU) within the Company to assist the Company with initial coin offerings (ICOs) and crypto-currency offerings. AND Secure a minimum of 2 strategic partners for the Company that are approved by the board, who will either participate in Company ICOs and/or can provide distribution and access to ICO and crypto-currency investors during an ICO;
(ii) First $2,000,000 consideration from the ABU or any ICO activity received by the Company (Tranche A). Consideration includes the cumulative of cash, shares and crypto-currency;
(iii) Second tranche of $2,000,000 consideration (Tranche B) (being a combined total of $4,000,000 with Tranche A) from the ABU or any ICO activity received by the Company. Consideration includes the cumulative of cash, shares and crypto-currency; and
(iv) Third tranche of $2,000,000 consideration (being a combined total of $6,000,000 with Tranche A and Tranche B) from the ABU or any ICO activity received by the Company. Consideration includes the cumulative of cash, shares and crypto-currency
OK. That's it, i think. Should i invest on FGF? Thanks
FGF Price at posting:
2.3¢ Sentiment: None Disclosure: Held
