Issue price: 3c (with a 1 for 1 option exercisable at 4.5c with a 2 year expiry, unlisted initially)
Last traded price: 3.3c
Market Capitalisation ~$15m
For Sophisticated Investors Only
Please submit bids before 10am Melbourne time tomorrow (Wednesday 13th, full timetable attached in the ‘Deal Sheet’ below)
Fatfish Internet Group Ltd (FFG) is a international tech investment and development firm. FFG partners with entrepreneurs and executives to build and grow tech businesses via a coentrepreneurship model. FFG focusses on two main areas:
- Blockchain and Cryptocurrency
- Consumer Internet
Key investment highlights:
- Blue chip credible Board with a huge amount of experience in technology and financial sectors with a track record (see “highlights of management” in Deal Sheet)
- Tony Mackay notable FFG Board member founding Chairman of ChiX Global and now running Kryptos-X Crypto Currency exchange launching imminently of which FFG have a meaningful stake in.
- Kryptos-X exchange to be launched soon. Exchange’s purpose is to create a regulated environment for exchange of these assets in a secure and trusted way.
- FFG own 51% of APAC Mining , a crypto-mining business that currently produces circa 2 BTC and 8 ETH per week even though it is only operating at 60% of capacity. Once production scales up, the annualised production rate will be appx 170 BTC and 690 ETH mined p.a which means revenue of approx US$1.7m p.a
- FFG Own 60% of Cryptofoundry, an ICO Advisory Business which takes 8% Ethereum and tokens as fees and a marketing platform (advertising to 23m gamers through iCandy games).
- FFG has a significant shareholding (>60%) in mobile entertainment company iCandy Interactive Ltd (ICI.ASX) – market value of this alone is ~$10m AUD
- FFG have made a US$500k investment into new opportunity with Epsilon Capital for a 20% shareholding. Epsilon is an emerging Crypto fund-of-funds based in London which has received ultra-high net worth support from New York & UK/EU family offices.
- FFG in FY2017 made a net profit of $1.84m
- Read through valuation of all of FFG’s investments is significantly higher than current market capitalisation. Reported NAV (Net Asset Value) of $0.094
- Market Capitalisation of just ~$15m
FFG is in the process of listing on the OTCQB in the USA which will increase exposure of FFG to USA investors and may help create greater demand and liquidity without diluting existing shareholders.
The Consumer Internet business is headquartered out of Sweden and is planned for a potential IPO in the European public market.
Kryptos-X, the crypto exchange, is launching in Q3, 2018
APAC Mining is scaling up its crypto mining business to new site in Montreal, Canada.
FFG is probably one of the very few publicly traded companies that give investors access across crypto funds management, crypto exchange and crypto mining. It can be a foremost listed proxy of the blockchain economy.