The following two stocks bear potential to be investors’ top picks amidst market volatility and trade disagreements.
Fatfish Blockchain Limited
Fatfish Blockchain Limited (ASX: FFG) has global venture hubs in Singapore, Stockholm and Kuala Lumpur. The company is an international development and venture investment firm. It partners up with entrepreneurs and executives to make and grow tech businesses. FFG follows a co-entrepreneurship model. The company targets sectors like blockchain, fintech and consumer Internet technologies and seeks upcoming technology trends.
Currently, FFG is zooming on the blockchain technology, the cryptocurrency exchange, crypto-mining business and blockchain focused fund management business. In parallel, the company has a keen focus on the consumer Internet sector, digital entertainment, fintech, e-commerce and enterprise software.
Earlier in May, Minerium Technology Ltd, FFG’s 51% owned blockchain mining investee company, underwent a notable change in its operating environment. The recovery of bitcoin price, from its lowest point of $3,400 per bitcoin this year to the then present market price of $8,000 per bitcoin, brought a positive result in the Minerium operational environment. Through the bitcoin mining operations, Minerium has generated almost $1,200 worth of bitcoin per day.
Minerium mining centres (Source: Company website)
The company’s Malaysian subsidiary, Fatfish Ventures Sdn Bhd, disposed of its entire holdings in Peterlabs Holdings Berhad through on-market transactions and made a loss of almost $0.24 million from the disposal. The disposal comes on the back of FFG’s strategy of casting out noncore assets that would, in turn, enable the company to switch its focus to core areas of technology and consumer Internet business.
FFG conducted its AGM on 31st March 2019.
Share Price Information:
At market close on 27th May 2019, the stock was trading at $0.014, up by 7.692%. The stock has provided a negative YTD return of 18.75%.
DigitalX Limited (ASX: DCC) is a crypto-asset finance and blockchain company. The company has its offices spread across Australia and the US with facilities in Perth, Sydney and New York. DCC provides advisory services for new crypto token offerings, blockchain and crypto asset management services. It also caters to media and development services.
The company has been on a placement spree. On 27th May 2019, DCC issued 1,576,568 shares at a deemed issue price of $0.074 per share. Prior to this, on 17th May 2019, the company issued a total of 19,046,519 shares at an issue price of $0.0677289 per share.
As per the company’s announcement on 15th May 2019, DCC’s Share Purchase Plan had closed substantially oversubscribed, raising a total of $2,460,000. DigitalX accepted the SPP oversubscriptions and received firm commitments for a Top-Up Placement to go ahead and raise an additional $1,290,000, fetching a total raise to $3,750,000.
The funds from these will be applied towards the company’s investment and acceleration opportunities and for the working capital requisites.
Moreover, the company announced on 7th May 2019, that it had finalised the legal proceedings and entered in a settlement deal related to an Originating Application and Statement of Claim filed by a group of parties for an initial coin offering. The company worked as an advisor for this deal. DCC was to pay $250,000 in cash within two days and $150,000 plus interest on 1st July 2019. A placement worth $350,000, in three tranches, was to be issued no later than the six weeks after the date of the settlement deed.
Looking at the quarterly report for Q1 FY19, the company provided Initial Coin Offering and shaped up its Security Token Offerings.
Number of STO’s per quarter (Source: Company’s report)
Share Price Information:
At market close on 27th May 2019, the stock of DCC was trading at $0.077, zooming up by 13.235% during the day’s trade, with a market cap of $38.63 million. The stock’s YTD return has been 30.77%.
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