Two Blockchain And Cryptocurrency Stocks – FFG, DCC

At the time when the stock markets across the world including Australian market are facing volatility amidst resurgence of trade disagreement between world’s superpowers, the following stocks are investors’ purview:

Fatfish Blockchain Limited

A global tech venture investment and development firm headquartered in Australia, Fatfish Blockchain Limited (ASX: FFG) works with entrepreneurs to facilitate building tech ventures through its unique “Seed-to-Exit” approach. The company invests in entrepreneurs to help them grow and succeed.

The company recently released an update on its 51% owned blockchain mining investee company, Minerium Technology Ltd; the company notified that there had been a considerable positive change in the operating environment of Minerium with the recovery of bitcoin price. The current market price of the bitcoin has improved to around USD$8,000 per bitcoin from its lowest point of USD$3,400 per bitcoin this year. Minerium gained from the recovery as many of its computing facilities are in bitcoin mining operations.

The company provided an update on its quarterly activities on 30th April 2019, for the quarter ending 31st March 2019. During the quarter, the company’s Swedish subsidiary, Fatfish Global Ventures AB successfully acquired a Sweden based tech venture investment firm, Snaefell AB. The company has postponed the proposed LSE IPO given the uncertain crypto related market sentiments and is holding on to its Mongolia expansion plan.

The company’s stock dropped 7.14 per cent on 17th May 2019 relative to last close. FFG ended the day’s trading at AUD 0.013, reaching a high and low value of AUD 0.015 and AUD 0.013, respectively during the intraday session. The company’s market cap stood at AUD 8.69 million at the time of writing the report.

DigitalX Ltd

DigitalX Ltd (ASX: DCC) is a company engaged in offering services like asset management, global token sale advisory and blockchain technology development. The company got listed on the Australian Stock Exchange (ASX) on 6th Feb 1989. The company delivers services from New York, Sydney, Perth, Malta and San Francisco.

On 15th May 2019, the company notified that it has raised A$3.75 million from its Share Purchase Plan (SPP) and Top-Up Placement. In a notification released on 13th May 2019, the company announced the issue of 1,895,453 shares at an issue price of $0.061551 per share in accordance with the first tranche of settlement deed. On 7th May 2019, the company advised that it has finalised the legal proceedings relating to the case of Originating Application and Statement of Claim filed by a group of parties in an initial coin offering by entering into a settlement deed. DigitalX Ltd was the advisor for the initial coin offering. The shares have been issued under the first tranche pursuant to the settlement deed, and the company will issue shares for a total value of AU$350,000 in up to three tranches with six weeks after the date of the settlement deed.

DigitalX released its quarterly activities report on 30th April 2019 for March 2019 quarter. At the end of the quarter, the company had cash, fund units and listed digital assets worth around 5.77 US million dollars. Smart contracting services were provided by the company to Singapore-based Bullion Asset Management for XGold’s launch during the quarter.

The exchange-listed digital asset holdings and units in the DigitalX Investment fund as at 31 March 2019 are given in the below table:

The company’s stock ended up lower on the ASX on 17th May 2019 at AUD 0.074 with a fall of 12.94 per cent relative to the previous closing price of AUD 0.085. The stock has performed well over a period providing a YTD return of 63.46 per cent. In the last five days of trade, the stock has generated a return of around 39.34 per cent.


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