FGF 0.00% 18.0¢ first growth funds limited

First Growth Funds - Investment Portfolio Overview (Updated Aug 19)

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    I figured it would be a good time to update the First Growth Funds Portfolio Overview considering all of the news and developments we have received in recent weeks.

    I have underlined and bold the updates since the last overview was posted.

    As per the Activities Report for the Quarter Ended 30 June 2019, the company are "taking steps to convene a meeting in order to seekshareholder approval as required by Listing Rule 11.1.2 in consultation with ASX. A proposal has been sent to the ASXfor their review and consideration on FGF’s business and strategy going forward.In the meantime the Company has been proactively addressing ASX concerns and has materially reduced itsinvolvement in cryptocurrencies and will not provide any advisory services to this sector".

    I praise the company for it's recent Quarterly, which provided a very clear snapshot of it's portfolio for shareholders and shed some light on the company's outlook moving forward.
    Portfolio of Digital Currency Investments
    InvestmentsIndustryInvestment AmountReturnAnnouncedStatus
    MailGuard (Global Guard)(https://www.mailguard.com.au/ and https://www.globalguard.io/)GlobalGuard is a new cybersecurity ecosystem designed to offer cryptocurrency security and protect businesses from email malware, phishing and social engineering attacks.US $100,000To be confirmed20/03/2018"FGF is seeking a refund from Global Guard" - Activities Report for the Quarter Ended 30 June 2019
    Bankorus (https://www.bankorus.com/)Private wealth management platform powered by AI and built on the blockchainUS $100,000To be confirmedShareholder Update – May 2018"FGF received 100% refund from Bankorus. FGF previously made investments in Bankorus with Ethereum tokens. The refunds have been made withEthereum and FGF will continue to hold until prices improve". - Activities Report for the Quarter Ended 30 June 2019.FGF have received $100,000 worth of Ethereum tokens back from Bankorus. FGF will hold these Ethereum tokens until prices improve.

    The price of ETH circa May2018 was approx USD $648. The price of ETH as of writing (5/08/2019) is USD $229.
    Lympo (https://lympo.io/)A cryptocurrency token intended to incentivize users to lead healthier lifestyles by rewarding such behavior.AUD $250,000A$250,000 worth of LYM tokens at a price of EUR0.05 eachShareholder Update – May 2018Lympo has successfully completed its ICO and is listed on three digital currency exchanges. Lympo have an ambitious roadmap which forecasts 1.2 Million users of the app by Q2 2020 - https://lympo.io/project-roadmap/. In November 2018, Dallas Mavericks and Mark Cuban partner to launch blockchain fitness app Lympo. LYM tokens -https://coinmarketcap.com/currencies/lympo/

    Fitness reward app Lympo is listed in Samsung blockchain wallet - July 11, 2019 (Cryptonews)

    There were 100k users of Lympo in April '19. In three months, the number of users doubles to 200k in July 2019 - Lympo LinkedIn
    EQI Bank (https://eqibank.com/)The world’s first licenced and fully regulated offshore bank providing Private and Corporate Banking, Cryptocurrency Custody, Fiat and Cryptocurrency Lending and other services.AUD $250,000To be confirmedShareholder Update - June 2018"FGF is seeking a refund from EQI" - Activities Report for the Quarter Ended 30 June 2019
    Proton (https://www.proton.global/)Digital Marketing via Data Fusion and CollaborationAUD $200,000To be confirmedShareholder Update - June 2018Blockchain Global and Blockshine Technology are listed as investors of Proton. Roadmap featured on the company's website.

    FGF previously made investments in Proton and Bankorus with Ethereum tokens. The refunds have been made withEthereum and FGF will continue to hold until prices improve.

    FGF Received 50% refund for Proton ($100,000) with the balance expected to be paid in October - Activities Report for the Quarter Ended 30 June 2019


    FGF have received $100,000 worth of Ethereum tokens back from Bankorus. FGF will hold these Ethereum tokens until prices improve.

    The price of ETH circa June 2018 was approx USD $522. The price of ETH as of writing (5/08/2019) is USD $229.
    Human Protocol (https://hcaptcha.com/ and
    https://www.hmt.ai/)
    Big DataAUD $200,000To be confirmedShareholder Update - June 2018Roadmap featured on the company's website. Based in the U.S. Company has yet to list on an exchange. Product development scheduled to be completed in Q3 2019

    Human Protocol (hcaptcha) project is performing well and are planning to list their token on a major exchangethis year. FGF will seek to sell its tokens as soon as possible, once listed - Activities Report for the Quarter Ended 30 June 2019

    Featured article on Fast Company - 17 July 2019 -
    https://www.fastcompany.com/90377406/suspicious-of-googles-recaptcha-heres-a-popular-alternative
    Acudeen (https://acudeen.com/)Invoice Factoring Platform, Company Backed by US Venture FundsNil. Receive fees & Tokens for Digital Currency Business Unit ServiesFGF will receive 20% of the token pool and will be entitled to a US $250,000 fee payable once the first US $1M is raised in the token sale. FGF is also entitled to 6.25% fee on the sale of tokens held by Acudeen. First commission payment is due once Acudeen raises US $5M.28/06/2018Acudeen has provided written notice to the Company to transfer back their unsold ACU tokens. FGFwill comply with this notice and arrange for the transfer of all of its unsold ACU tokens to Acudeen.FGF has also provided written notice of its intentions to also terminate the agreement - Restructure of Cryptocurrency Investments & Board Changes (8 July 2019)

    "FGF have returned its ACU tokens back to Acudeen. FGF has determined not to enter into any further agreements similar to the Token Facilitation Agreement signedwith Acudeen" - Activities Report for the Quarter Ended 30 June 2019
    CCP Technologies (https://www.ccp-technologies.com/)Blockchain and IoT Solutions for the Food Sector$250,000 at 2 cents per share with a one for one free attaching 2 year matching unlisted options exercisable at 3 centsFGF invested $250,000 plus also facilitated the investment from
    Penta Global that invested $561,247 using its tokens. FGF is entitled to a $33,675 fee for facilitating the investment. FGF also received a fee from its pre-IPO investment.
    17/07/2018In January 2019, CCP announced it has been tasked with delivering IoT sensors for Cre8tec, a “rodent monitoring equipment manufacturer” and has signed a head agreement for product development with Eposode Data Solutions which includes an initial contract to design and develop a new IoT device for the consumer market. On March 14 2019, CCP announced they has boosted its contract IT development revenue by 35% since February, while its subscription sales pipeline has now exceeded $800,000. Excluding reseller sales, this pipeline only includes direct sales, with a further $288,000 at contract stage in the pipeline for 1,300 smart monitoring tags.

    https://*********.com.au/ccp-technologies-largest-us-purchase-order-iot-temperature-monitoring-solution/
    YPB Group (YPT) (https://ypbsystems.com/)Anti-Counterfeit Platform and SolutionAUD $500,000The fees payable to FGF under the agreement is as follows:
    i) receive 20% of the Tokens issued by YPB under the agreement. ii) be entitled to an activation fee in the aggregate amount of US$175,000 to be paid in US dollars
    from the Net Proceeds YPB receives from the first US$1 million raised through the sale of Tokens allocated to YPB (First FGF Activation Fee).
    iii) be entitled to an activation fee in the aggregate amount of US$175,000 to be paid in US dollars from the Net Proceeds YPB receives from the second US$1 million raised through the sale of Tokens allocated to YPB (Second FGF Activation Fee).
    iv) be entitled to receive commission equivalent to 6.25% of the US dollar value received from the sale of all Tokens allocated to YPB under this Agreement (FGF Commission). The FGF Commission
    shall accrue until such time as YPB has raised at least USD$5 million from the sale of Tokens allocated to it. - YPB:Response to ASX Query 12/04/19
    29/08/2018"Terminated Token Facilitation Agreement with YPB, Blockchain Global and DigitalX. FGF has determined not to enter into any further agreements similar to the Token Facilitation Agreement signedwith YPB" - Activities Report for the Quarter Ended 30 June 2019
    Hypercash (formerly known as HCASH) (https://h.cash/)Digital currency protocol with its own unique blockchain similar to Bitcoin or Ethereum with a market cap of $150M and with a daily trading volume of $25 MillionUnder the placement terms, there is no dilution or direct investment in FGFFGF will act as a broker and receive 6% or up to $900,000 in fees for facilitating the investment in other listed companies. FGF to receive up to $900,000 in commission10/09/2018"Terminated MOU with HCash Tech Pty Ltd" - Activities Report for the Quarter Ended 30 June 2019



    Existing and New Equity Investments
    InvestmentsIndustryInvestment AmountReturnAnnouncedStatus
    Cloud Lumen (http://www.cloudlumen.com/index.html)Outdoor Smart LED Lighting MarketAUD $350,000Ownership of 18.5% of the companyAnn: FGF Invests in IoT company Cloud Lumen - 28/12/2016Cloud Lumen revealed their intent to trade on the ASX on 29/08/2017. The company have yet to list on the ASX

    "In discussions with the Company for a corporate event" - Activities Report for the Quarter Ended 30 June 2019

    IPO on the way it sounds like
    CryptoData Vault (Sovreign Cash Tokens- SOVC) (http://cdv.io/)Cyber Security - Hardware Wallet for Custody of Digital AssetsUS $250,000(1) Secured 15.56% of all SOVC Tokens (6.69 Billion) (2) 50% interest in CryptoData Vault LLC that owns 30% of all tokens (3) 6% success fee for all tokens sold by CDVSOVC listed on BTCEXA on 24/10/18CDV’s development team includes participation of four leading edge companies providing technologies via license agreements: Heuresy Labs LLC, Stealth Entry LLC, Xped Limited, and Proxidyne Inc. They are contributing expertise, technology, and
    intellectual property developed with tens of millions of dollars invested to date.

    SOVC listed on BTCEXA at a price of $0.00080 USD (5 July 2010)

    FGF is in discussions with CDV to restructure the token agreement - Activities Report for the Quarter Ended 30 June 2019
    FutureEdge Capital (formerly FutureICO)Compliance and Token Issuance PlatformAUD $285,000Following the subscription, the capital structure of FutureICO will be approximately DigitalX (34%), Blockchain Global Limited (34%), Big Start Pty Ltd (7%) and First Growth (25%).18/09/2018"The progress of the FutureICO platform has been slower than anticipated due to a rebrand to FutureEdge Capital and difficulties in obtaining banking services for the platform. DigitalX still expects
    to launch this financial year, subject to clearing all regulatory and compliance hurdles and securing
    banking services." - Digital X Appendix 4C - quarterly, 31/01/19

    FGF is in discussions with Digital X and Blockchain Global regarding its investment in FutureICO - Activities Report for the Quarter Ended 30 June 2019
    LINCD (https://www.lincd.co/)Blockchain as a Service PlatformAcquisition for approx AUD $1,000 plus a AUD $250,000 loan to be repayed by LINCD to FGF30,000,000 of HT8 shares plus (1) 20,055,334 HT8 options exercisable at 2.5c when LINCD ghenerates no less that $1.35M in revenue within 24 months of the issue date and (2) 20,000,000 options exercisable at 3.5c when LINCD ghenerates no less that $1.05M in revenue within 24 months of the issue date17/01/2019Harris Technology Group Limited (ASX:HT8) to acquire LINCD.HT8 will hold their EGM on 3 May 2019, with completion of the sale of LINCD to HT8 to occur on the EGM date.

    "LINCD successful sale to Harris Technology (ASX:HT8) completed on 24 May2019. FGF received 30,000,000 HT8 shares plus performance based optionsas part of the sale proceeds".- Activities Report for the Quarter Ended 30 June 2019
    Globex (https://www.horizon-globex.com)A technology company, with offices in Europe and USA, providing a software platform for issuing, managing and trading of regulated security tokens that are fully compliant and operate under financial services licence.US $468,000FGA will charge a fee for the license. Confirmation required as to whether FGA will still continue to charge fees for creating the tokens including any advisory on smart contracts, listing fees and trading fees. As per the Quarterly Activities and Cashflow Report on 30/04/19 - "FGF and FGA are not involved in, and do not provide token advisory services for, the development, creation, issuing and listing of Tokens"13/02/2019Globex is developing software solutions for regulated security digital assets. "FGF is pleased to announce a further investment in Globex of $218,000 on an equity basis,following the successful acceleration in global commercialization of their products and solutions." - NASDAQ PRE-IPO INVESTMENT IN HELBIZ &EXPANSION CAPITAL FOR GLOBEX - 17 June 2019
    SQID Technologies (https://sqidpayments.com.au/)Payments and e-Commerce$500,000 with the payment held in trust and funds returned to FGF if
    the listing does not proceed.
    Performance Payments to First Growth Advisoryclear.png1) First Growth Advisory will receive performance payments of $550,000 if, for the financial year ending 30 June 2020, the transactions value processed revenue for SQID exceeds $150,000,000 in card transactions, as reflected in the SQID’s audited financial statements for
    the year ending 30 June 2020; and (2) a further $550,000 if, for the financial year
    ending 30 June 2021, the transactions value processed revenue for the SQID exceeds $250,000,000 in card transactions, as reflected in the SQID’s audited financial statements for
    the year ending 30 June 2021.Performance Payments by First Growth Fundsclear.png1) First Growth Funds will make performance payments of $350,000 if, for the financial year ending 30 June 2020, the transactions value processed revenue for the SQID exceeds $150,000,000 in card transactions, as reflected
    in the SQID’s audited financial statements for the year ending 30 June 2020; and(2) a further $350,000 if, for the financial year
    ending 30 June 2021, the transactions value processed revenue for the SQID exceeds $250,000,000 in card transactions, as reflected in the SQID’s audited financial statements for
    the year ending 30 June 2021. If SQID reaches all its milestones, FGA will make $550,000 upfront fee + 2 x $550,000 = $1.65m revenue
    1/03/2019A further investment of $500,000 will be made on successful listing.

    During the quarter, FGF completed the tranche 2 investment of $500,000 inSQID. Based on the current proposed initial market capitalization and uponcompletion of the expected listing in October, FGF expects the value of itsshareholding at listing to be approximately AUD$3.2M. The IPO preparationis progressing well with work underway for the prospectus.Operationally, SQID continues to perform well closing the quarter with 21%EBITDA margin and with $3.2M Cash at Bank, and no external debt - Activities Report for the Quarter Ended 30 June 2019
    Australian Nutrition & Sports Limited (https://answellness.com.au/)Nutrition and supplementationShort-term interest bearing loan of AUD $200,000Interest not specified in announcementQuarterly Activities and Cashflow Report - 30/04/2019Loan expected to repaid with interest next quarter- Activities Report for the Quarter Ended 30 June 2019
    Helbiz (https://helbiz.com/)Helbiz is intra-urban transportation company witha mission to solve the first- and last-mile transportation problem of high-traffic urban areas around theworld.FGF has invested $218,000 in Helbiz Inc (“Helbiz”)Not specified NASDAQ PRE-IPO INVESTMENT IN HELBIZ &EXPANSION CAPITAL FOR GLOBEX - 17 June 2019IPO on NASDAQ in October - Activities Report for the Quarter Ended 30 June 2019

    https://finance.yahoo.com/news/helbiz-announces-pop-participation-york-110000601.html

    https://www.businesswire.com/news/home/20190606005231/en/Helbiz-Launches-Historic-Initial-Public-Offering-Process


    Large Cap & Small Cap Listed Investments
    InvestmentsIndustryInvestment AmountReturnAnnouncedStatus
    Pearl Global (ASXclear.pngG1) (https://pearlglobal.com.au/)ASX Listed company involved in the process of tyre recyclingFGF invested $350K at pre-IPO and
    successfully listed the company on the ASX
    2,225,000 shares at 16c and 729,166 options28/12/2016FGF continues to hold the stock. PG1's SP has been on a stead decline since listing on the ASX in early 2018. In March 2019, Pearl entered into a placement agreement with ROC Asset Management for $5M worth of full paid ordinary shares at 12.7c. See Appendix 4C & Quarterly Review - 30/04/2019
    Datable Technology Company (https://3tierlogic.com/)Consumer digital and social media engagement, data mining, and loyalty solutions primarily in Canada and the United StatesCAD $210,000"On 28 June 2018, FGF announced an investment of CAD$210,000 in Datable. Given the timetable for the placement was going to take much longer than initially agreed, FGF has elected to have its funds
    returned ." - Quarterly Activities and Cashflow Report 26/07/18
    28/06/2018Listed on Canadian Venture Exchange (CVE: DAC)

    https://www.newswire.ca/news-releases/datable-signs-definitive-agreement-with-circadian-group-to-integrate-flexxinvest-with-the-cannabis-investor-to-launch-flexxinvest-882489714.htmlhttps://www.newswire.ca/news-releases/datable-signs-licensing-agreements-to-provide-platform3-for-two-leading-consumer-brands-840148337.html
    Kleos (ASX:KSS) (https://kleos.space/investors/)Geospatial IntelligenceAUD $250,0005% Broker Fee on it's investmentAnnounced in Quarterly Activities and Cashflow Report - 26/07/2018FGF has taken some profits and continues to hold the stock - Quarterly Activities and Cashflow Report 30/04/2019

    Kleos Space enters sales channel agreement with L3Harris - https://*********.com.au/kleos-space-enters-sales-channel-agreement-l3harris/

    Placement Agreement with Blockchain Global (BCG) (https://blockchainglobal.com/)

    "Blockchain Global Limited has signed a letter to waive its rights in respect of the issue of 60 Million Milestone Shares.As such, FGF will not issue any of the milestone shares to Blockchain Global Limited (or its nominee) regardless ofwhether the milestones are met in the future." - Activities Report for the Quarter Ended 30 June 2019

    "The Company has provided written notice to Blockshine Japan Corporation to terminate the Alliance Agreement. The Company, Blockchain Global and HCash Tech Pty Ltd have mutually terminated the MOUbetween them." - Restructure of Cryptocurrency Investments and Board Changes (8 July 2019).


    Last edited by cryptoking777: 05/08/19
 
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