Seed Innovations (SEED) has announced results for its year ended 31st March 2022, noting a testing stock market environment but much operational progress within its portfolio companies.
Seed Innovations (SEED) has emphasised a “significant milestone” for B2B developer of 3D gaming applications investee company Fralis LLC, trading as Leap Gaming, with the granting of a content supply licence by the United Kingdom Gaming Commission.
Seed Innovations (SEED) is pleased to note that the company in which it holds 7,324,796 shares, Little Green Pharma (ASX:LGP), has announced its “largest single-strain offtake quantity contract to date, with a minimum take or pay commitment of $7.5 million over 30 months." This follows the company in which it holds 4,427,609 shares, Yooma Wellness (CSE & AQSE - YOOM), announcing that its “fourth quarter saw revenue of US$5.3 million, exceeding previous forecasts”.
Seed Innovations (SEED) has noted an announcement from portfolio company Little Green Pharma (ASX:LGP) emphasising “record quarterly revenue and cash-receipts, with ~$3.7 million revenue (unaudited) and $4.9 million in cash receipts” and that it is looking forward to a positive 2022 from Little Green Pharma with further progress and news flow.
Seed Innovations (SEED) has announced a further investee company update, helping the shares up to a current 7.4p to buy. So what’s the latest news?
Seed Innovations (SEED) has announced a further investment in Leap Gaming and noted it anticipates positive news flow and corporate development from it into 2022.
Seed Innovations (SEED) has announced a further investment in South West Brands Limited and an update on its Yooma Wellness investment.
FastForward Innovations - now Seed Innovations (SEED) - was a recommendation last year on the N50 website which also features writers here Tom Winnifrith and Steve Moore. That was at a 6.2p offer price, noting the discount to NAV looked severe and looking for operational progress and increased interest particularly in the health area to propel NAV forward again. Little more than two months later the shares had already reached 12p to sell despite the company then stating “it is naturally a more challenging market for fundraising, which could delay the roll-out of future growth plans”. We banked gains, but there has been operational progress, though the shares are currently available at an 8.4p offer price.
