FastForward Innovations (FFWD) has announced results for its year ended 31st March 2020 including “a large portion of our investments have continued to make positive advances and reach significant milestones in their development”, though also “some challenges”... and this share tip from us is almost 100% ahead on an offer to bid basis after just two months!
Tom covered much of the nonsense surrounding the FastForward Innovations’ (FFWD) placing last week (HERE) but I wanted to look at how Jim Mellon and Lorne Abony got themselves into that particular mess as they seem to have taken a couple of plays straight out of “star fund manager” Neil Woodford’s book.
The results which came out in early July made it clear to anyone who could do basic maths that Jim Mellon's FastForward (FFWD) would be passing the hat around shortly. Three ramptastic RNS's followed and today I can reveal that the company is on the road trying to raise £5 million in fresh equity.
If anyone thought anything else other that FastForward Innovations was merely the personal investment vehicle for Jim Mellon and Lorne Abony to dip into at will, today’s massive related party deal with Mellon’s Juvenescence Limited puts it beyond any doubt.
Madness is afoot at FastForward Innovations (FFWD) with the excitement about the impending listing of its cannabis play, Nuuvera, driving the share price up as high as 30p yesterday. This makes no rational sense as I will endeavour to explain but the summary is simple – if you like Nuuvera, buy it in the market for its market value rather than at 4-5 times its value!
The one thing I hate more than being wrong about a share recommendation is being spoofed and falling for it, which is what I think has happened with FastForward Innovations (FFWD). Can’t believe I fell for it but I’m done now – SELL.
I’ve been hugely critical of FastForward Innovations (FFWD) in the past, in the main due to the lack of transparency and the poor performance of Schoold and Vemo, Lorne Abony’s own investments in FastForward’s portfolio; however, today’s news is much more promising and I actually wonder whether it’s worth a dabble!
Tom covered the news of the failed Schoold / Lingo Media merger that FastForward Innovations (FFWD) announced on Friday in his Bearcast (HERE); however, I thought it was worth taking a closer look at the numbers and pondering when the next major write down to FastForward’s portfolio, and Lorne Abony’s reputation, will come.