Quantum Blockchain Technologies PLC (LON:QBT) updated investors on recent developments with its portfolio.
The AIM-listed firm said it increased its stake in crowdfunding platform Forcrowd to 41.17% after purchasing an additional 21.17% interest for €34,000 amid a special situation that arose among previous shareholders.
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The company also said that Forcrowd is due to launch its first crowdfunding campaign of 2021 and the project has already received pre-launch investment commitments, enhancing the probability of a successful campaign. The campaign is for MakeMe, a start-up in the Italian recruitment sector.
Meanwhile, the firm said PBV Monitor, which it has a 10% interest in, has focused on the efficient marketing of its intelligence service to law firms and in-house legal counsels, whilst consolidating its editorial partnerships in Italy and establishing new relationships, especially in the US.
Quantum added that PBV expects to re-launch its industry award events for the legal sector in Italy and France post-pandemic and aims to consolidate its intelligence service as a potential new line of revenue.
The firm also said that its investee Geosim Systems is currently completing the first Phase in the development of a 3D Reality Model for a major North American airport, adding that previously announced projects for Milan and London Digital Twin remain on hold but are still deemed valuable by the company.
Elsewhere, Quantum said the Court of Venice has scheduled a hearing for its Sipiem case for November 10, when the judge will receive the parties’ comments on the report of the independent expert. The group said the independent expert has assessed the economic value of the possible damages suffered by Sipiem at an amount of up to €7.8mln, subject to the judge ruling that the conduct of Sipiem’s former board and internal audit committee was unlawful.
“Although the company’s focus is now primarily on Quantum, Artificial Intelligence, Blockchain and Cryptocurrencies, QBT continues to monitor developments of the companies it has previously invested in, helping them in their growth and aiming eventually, to successful exits”, Quantum Blockchain’s executive chairman and chief executive Francesco Gardin said in a statement.
“Additionally, we are pleased that the Court of Venice promptly acted to schedule a new hearing, and we continue pursuing this legal claim with a positive outlook”, the CEO added.