FastForward Innovations has announced that it has sold out its entire holding of 268,213,880 shares of Blue Star Capital PLC for a cash consideration (after costs) of £305,763. The shares of Blue Star were acquired as consideration for the sale of FastForward Innovations’s holding SatoshiPay Ltd (SatoshiPay), which was announced on 2nd March 2017. The company says that the carrying cost of the Blue Star investment was £117,630 and that the disposal will result in realized profit of £188,133. Lorne Abony, Chief Executive of Fast Forward, says that this is the first of what he hopes will be several events, in the medium term, where the company will be able to both generate profits and successfully monetize investments within its portfolio.
About FastForward Innovations
FastForward Innovations (formerly Kuala Innovations, before that Kuala Limited and before that China Growth Opportunities : CGOP) will invest in and/or buy companies that have significant intellectual property rights which they are seeking to exploit, principally within the technology sector and the life sciences sectors. Initially the geographical focus will be North America and Europe, but investments may also be considered in other regions where the Board considers that valuable opportunities exist and positive returns an be achieved.
You can access the company’s website here
FFWD : FastForward Innovations sells entire holding in Blue Star