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Fatfish Blockchain Limited (ASX: FFG) is an ASX listed company into venture investment and development work, functioning on a global scale. The company has global hubs in, Kuala Lumpur, Singapore and Stockholm. Due to an investment venture fund, the company often engages with entrepreneurs and experienced executives to build and grow tech businesses. The company specifically focuses on the technology businesses and trends which include some of the already invested spaces like blockchain, fintech and consumer internet technologies. Some of the existing venture interest and businesses of the company are as follows:
- Blockchain Technology - Blockchain focussed fund management business, crypto mining business and cryptocurrency exchange.
- Consumer Internet â It includes the portfolio of the businesses that aims for enterprise software, e-commerce, fintech etc.
On 20th March 2019, the company requested the Australian Stock Exchange (ASX) to temporarily pause the trading, stating a pending announcement which is yet to be released. On the same day, the ASX responded positively and accepted the companyâs request. In its notification, ASX stated that trading halt would not be uplifted until the announcement is released to the market or when the normal trading begins on Friday, 22 March 2019, whichever is earlier.
On 21st March 2019, FFG announced that its investee company, iCandy Interactive Limited (ASX:ICI) has entered into a Global Collaboration and Distribution Agreement with Emerge Gaming Limited (ASX:EM1). Under this new agreement, ICI and Emerge Gaming will come together to apply technology from EM1 and gaming content from ICI. It will aid the companies to set up, an entirely new business focused around eSports based on mobile games. In addition to this, a completely new platform would be developed as a new mobile eSports tournament platform, named iLeague.
On 13th March 2019, the company disseminated an information to the ASX, that under the listing rule 3.19A.3, and as agent for the director for the purposes of section 205G of the Corporations Act, Mr Anthony MacKay (Ex Director) has acquired 5 million unlisted options in FFG with an exercise price of $0.05 per option. Also, another deal had happened between Mr Anthony Mackay (as a registered Holder of FFG) and Kryptos-X Pte. Limited, under which Mr Anthony Mackay was to acquire 73,000 ordinary shares in Kryptos-X Pte. Limited.
On 12th March 2019, the company disseminated to its stakeholders that Mr Anthony Mackay has resigned as Director of the Company from 12th March 2019. Mr Mackay also stated the reason for his resignation, which was to focus on the operations of Kryptos-X, an investee company of FFG, with a view that it had gone live with its crypto exchange operation as announced on 8 January 2019. On the same day, FFG provided a slew of market updates.
On the technical front, the Fatfishâs stock dropped by 25% after surging up by 33% from day before. As on 21 March 2019âs end of trading session, the stock price stood at A$0.015, down by A$0.005 compared to the previous dayâs closing of A$0.20. The stock has given a massive return of more than 53% in the last one month, while the YTD rally stood at modest 25%.
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