Quote Originally Posted by Tony Two Gloves View Post
I looked into buying shares with them a while back but found it wasn't that hard to set up wallets etc myself. I do like their safe storage etc and I think their portfolio of currencies looks good. The SP will be based on the current value of their holding so I expect a bit of volatility in this one. Saying that if you want some exposure to Crypto this is a very easy way to be involved. Actually their SP was getting close to $6 a few months ago now at $3.99 on their website such are the big movements at the moment.
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??