Flow Capital Corp V.FW

Alternate Symbol(s): AHFCF

Flow Capital Corp. is a Canada-based venture debt lender. The Company provides flexible growth capital solutions. It is engaged in providing flexible growth financing solutions to small and mid-cap high-growth companies across multiple sectors. The Company also focuses on revenue-generating, venture capital-backed, and founder-owned companies. The Company's portfolio comprises approximately 17 loan and royalty investments. The Company’s subsidiaries include Flow Capital US Corp., Flow Investment Services Corp., Flow Investment Holdings Corp., LOGiQ Capital 2016, Tuscarora Capital Inc., and Flow Capital Partnership Holding Corp.

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Flow Capital Corp

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Comment by epzon Jun 22, 2018 1:36pm

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Post# 28214305

RE:RE:RE:RE:RE:$2.6mln in cash + $2.5mln in MCLD shares

Sorry I'll try and repost both of those for you. First I redid the first one:

total bought out	Investment	Recouped	Profit	% Return	# of Q	ROI/year
Plitique	251864.5	513803.58	261939.08	2.04	10	0.416
wmode	1004912.5	3145376.125	2140463.625	3.13	4	2.13
4tell	1090215	1853365.5	763150.5	1.7	4	0.7
Aquam	2000000	7520000	5520000	3.76	9	1.226667
INOVX	2137053	2756798.37	619745.37	1.29	4	0.29
above securities	3430000	6448400	3018400	1.88	6	0.586667
DS handling	1000000	1650000	650000	1.65	5	0.52
Fixt	125000	276563	151563	2.212504	3	1.616672
Agnity	3609925	5260880.18	1650955.18	1.4573378	11	0.166305
	10914045	23887743.58	13125261.58		56
	1212671.667	2654193.731	1458362.397	2.19	6.22	0.764174

As you can see it was the longest investment to date to be bought out. I would expect it to have the highest ROI but only the INOVX which Steve said they were lucky to get a full return on is lower. Having said that they got the money after 4Q so it is actually a way higher ROI (29% vs 17%). So these investments that are supposed to be the "home runs" that really make up for the ones that fail and Agnity barely covers their costs. I haven't done the math on that but I suppose I should. With their cost of capital (share issuance/debs aren't cheap), SG&A, management buyouts, etc. Also I'm guessing there is a tax advantage to recieving a royalty vs buyout.

Here is the Agnity (you'll have to be on a computer to see):

Q3-2015	Q4-2015	FY2015	Q1-2016	Q2-2016	Q3-2016	Q4-2016	FY2016	Q1-2017	Q2-2017	Q3-2017	Q4-2017	FY2017	Q1-2018	Q2-2018	Q3-2018	Q4-2018	Total
Investments	2625400	984525	3609925													3413470	5260880	*3500000xMCLD (if hit target)
royalty payments		133417.9	133417.9	199210.7	191114.9	194938.9	167779.4	753044	158779.4	158779.4	180496.3	180496.3	678551.3	144397	138000	1847410	11Q
% earned/Q	0	0.036959	0.036959	0.055184	0.052942	0.054001	0.046477	0.208604	0.043984	0.043984	0.05	0.05	0.187968	0.04	0.04
% earned ongoing	0	0.036959		0.092143	0.145084	0.199085	0.245562		0.289547	0.333531	0.37	0.42		0.46	0.5