Quote Originally Posted by Sideshow Bob View Post
From their annual "review" for the year ended 31/3/21

The revaluation of Crossgate Capital’s investment assets for financial reporting purposes was undertaken on a specific date being 31 March 2021, which resulted in our Share price, after tax, being Letter From the BoardInstitutional capital entering the cryptocurrency market is the direction of travel that we envisaged. During the year the cryptocurrency market has seen significant growth. CROSSGATE CAPITAL LTD 5reported as $4.70. When the offer opened on 1 April 2019, the Share price was $1.00. Since inception we report a $2.7m increase in the fair value of our investments which at year-end has resulted in Crossgate Capital holding $3.5m of cryptocurrencies

As above, holding $3.5m in crypto (total assets $3.6m) as at 31/3/21, with 3.6m shares on issue, but they are valued at $4.70?? As you say, can only base their value on the current value of their holding, and there would be some big swings at times.

Shares obviously allocated/bought for alot less than the initial price of $1/each

Would be interested how their stated "share price" is formulated, as surely even at $3.99, the share price is over-egged??? ie share price too high relative to the value of assets, unless they've had a stellar 2.5months, and increased the value of crypto to 3.6m x $3.99 = $14.36m??
Hmmm interesting, the SP on their website is $3.99 as at 9/6 so unless the number of shares is incorrect and they were issuing more shares to get down to the $1.00 mark? They have there portfolio on their website also and I would suspect those coins are down significantly. BTC was $83K NZD on the 1/4 and is now $52K and the smaller coins have been savaged more - unfortunately I hold a lot of the same coins as they do......