Martin Talvari held equity interests across the below companies between 2016 and 2023, with a combined estimated peak value of approximately AUD 9.9 million in 2021 — driven primarily by BullionFX while he was still operational in the business (AUD 7.1M at July 2021 arm's-length transfer price), and GoldyBlocks DMCC (AUD 2.7M at incorporation capital contributed), alongside residual Wanderfeel Oy interest (AUD 89K including loan). The trajectory is non-linear: values through 2016–2019 were combined AUD 228K–2.1M, surged in 2019–2021 on BullionFX and GoldyBlocks growth, then collapsed to near-zero by end-2021 when all BullionFX shares were cancelled by forfeiture (December 2021) and the Myriad entity wound down. Wanderfeel went bankrupt in October 2022, extinguishing the EUR 52,500 shareholder loan and the 7.35% equity stake. All four entities were either wound up or had Martin's shares fully cancelled between 2021 and 2023.
All data extracted from four source documents: Chronology-8.pdf, Wanderfeel_Share_Loan_History.pdf, Myriad_Valuation_History.pdf, BullionFX_Share_History.pdf. Midpoints of stated ranges are used throughout charts and tables. EUR and USD converted to AUD using RBA approximate annual average rates.
| Entity | Year | Source Figure | Martin's Value (AUD mid) | Status |
|---|---|---|---|---|
| Wanderfeel Oy | 2016 | Company EUR 105K–300K; ~50% stake + EUR 52,500 loan = total EUR 105K–202.5K; EUR/AUD 1.484 | AUD 228,000 | EST |
| Wanderfeel Oy | 2017 | Company EUR 400K–900K; ~20–30% stake + loan = EUR 132.5K–322.5K; EUR/AUD 1.473 | AUD 335,000 | EST |
| Wanderfeel Oy | 2018 | Company EUR 400K–800K; 7.35% confirmed + loan = EUR 81.9K–111.3K; EUR/AUD 1.573 | AUD 152,000 | CONF %EST $ |
| Wanderfeel Oy | 2019–2020 | Company EUR 200K–500K; 7.35% + loan = EUR 67.2K–89.25K; EUR/AUD 1.610/1.650 | AUD 126K / 129K | EST |
| Wanderfeel Oy | 2021 | Revenue EUR 6,150; Company EUR 20K–80K; 7.35% + loan = EUR 53.97K–58.38K; EUR/AUD 1.591 | AUD 89,000 | CONF revEST $ |
| Wanderfeel Oy | 2022 | Bankrupt Oct 2022. Loan lost. Equity extinguished. | AUD 0 | CONF |
| Myriad | 2016 | Pre-revenue; no earnings multiple applicable | AUD 0 | EST |
| Myriad | 2017 | Profit AUD 368,693; co-founder valuation AUD 3M–4M; ~50% = AUD 1.5M–2M — Myriad_Valuation_History.pdf p.2 | AUD 1,750,000 | CONF profitEST val |
| Myriad | 2018 | Projected net AUD 183,676; ~8–10x multiple = AUD 1.5M–2.5M company; 50% = AUD 750K–1.25M — Myriad_Valuation_History.pdf p.4 | AUD 1,000,000 | CONF profit projEST val |
| Myriad | 2019 | Final govt sponsorship AUD 357,500; residual value AUD 400K–750K; 50% = AUD 200K–375K | AUD 288,000 | EST |
| Myriad | 2020 | COVID-impaired; company AUD 50K–150K; 50% = AUD 25K–75K — Myriad_Valuation_History.pdf p.3 | AUD 50,000 | EST |
| Myriad | 2021–2022 | Deregistered 13 January 2022; operational wind-down 2021 | AUD 0 | CONF |
| BullionFX | 2020 | 28,325,000 shares @ US$0.20 arm's-length (30 Oct 2020) = US$5,665,000; USD/AUD 1.452 = AUD 8,226,000 — BullionFX_Share_History.pdf p.3 | AUD 8,226,000 | CONF price |
| BullionFX | 2021 | 28,225,000 shares @ AU$0.25 arm's-length (1 Jul 2021) = AUD 7,056,000; NOTE: all shares cancelled 8 Dec 2021 — BullionFX_Share_History.pdf p.3 | AUD 7,056,000 | CONF price |
| BullionFX | 2022 | All shares cancelled 8 Dec 2021 by forfeiture. Member ceased. | AUD 0 | CONF |
| GoldyBlocks | 2019 | USD 100,000 seed capital into Merakil pre-inc entity Aug 2019 = AUD 138,910 per Chronology-8.pdf p.7; 100% Martin | AUD 139,000 | CONF capital |
| GoldyBlocks | 2020 | Held in Merakil; domain GoldyBlocks.com purchased 15 Sep 2020; no additional capital; same AUD 139,000 | AUD 139,000 | EST |
| GoldyBlocks | 2021 | Incorporated 3 Jun 2021; AED 7,412,932 ~ AUD 2,715,898 contributed (Jul 2021 rate 1 AED=0.3664 AUD) — Chronology-8.pdf p.6; 100% sole owner | AUD 2,716,000 | CONF capital |
| GoldyBlocks | 2022 | AED 6,046,831.95 ~ AUD 2,215,559 director fees drawn in 2022 — Chronology-8.pdf p.9; remaining equity highly uncertain. Conservative estimate AUD 500K. | AUD 500,000 | EST — HIGH UNCERTAINTY |
| GoldyBlocks | 2023 | Entity wound down during 2023. All remaining value rendered nil. Combined total of all four entities ends at AUD 0. | AUD 0 | CONF wind-down |
⚠ Flags: BullionFX 2021 = peak Jul 2021 value; all shares cancelled Dec 8 2021 (year-end value = AUD 0). Wanderfeel includes EUR 52,500 loan receivable in all years 2016–2021 (confirmed figure, lost in bankruptcy 2022). GoldyBlocks 2022 residual equity is estimated with high uncertainty — director fee draws of AUD 2.2M occurred but no balance sheet available. GoldyBlocks wound down 2023; all remaining value rendered nil — combined total for all entities ends at AUD 0. Myriad 2019 midpoint rounded to AUD 288K (range AUD 200K–375K).
The 2021 incorporation of GoldyBlocks DMCC did not create the business — it captured a business that had been in formation since August 2019. The initial AUD ~138,910 capital contribution into the Merakil holding entity was the first tranche of a single investment thesis. The domain purchase in September 2020 was a preparatory act. The incorporation and formalisation of both tranches in 2021 was the legal completion of a process that began in 2019.
Log scale: The Y-axis uses a logarithmic scale so that smaller values (AUD 50K–335K range, 2016–2019) remain visible alongside the much larger 2020–2021 peaks. Equal vertical distance = equal proportional change, not equal dollar change.
BullionFX 2021: Shows the peak value at the July 2021 arm's-length transfer price (AUD 7,056,000). All shares were cancelled by 8 December 2021 — year-end value = AUD 0.
† December 2021: In December 2021, Martin Talvari became seriously ill with COVID pneumonia in Stockholm and required ambulance attendance on three occasions. Weeks later, he was able to travel to Estonia to continue recovery, which took approximately three months, with full recovery taking six to twelve months. This significantly affected his ability to manage his business affairs at the time.
Wanderfeel: Includes EUR 52,500 shareholder loan in all years 2016–2021 (confirmed figure). Both equity and loan were lost in the October 2022 bankruptcy.
| Year | Wanderfeel Oy (incl. loan) | Myriad | BullionFX | GoldyBlocks | Combined Total |
|---|
¹ Wanderfeel values include the confirmed EUR 52,500 shareholder loan in all years 2016–2021 (Wanderfeel_Share_Loan_History.pdf). Values converted at RBA approximate annual average EUR/AUD rates.
² Myriad 2017 value based on co-founder confirmed conservative valuation of AUD 3–4M; 2017 profit AUD 368,693 confirmed (Myriad Govt Report 2017, DSITI ESU Ref 01191-2017 & Myriad_Valuation_History.pdf). 2018–2020 estimated.
³ BullionFX 2020 value based on confirmed arm's-length transfer at US$0.20/share (30 Oct 2020; BullionFX Register of Members, Cert ref 82). 2021 based on confirmed AU$0.25/share (1 Jul 2021, Share Purchase Agreement; Cert ref 84). All shares cancelled 8 Dec 2021 by forfeiture — year-end 2021 value = AUD 0.
⁴ GoldyBlocks 2019 capital AUD 138,910 confirmed (Chronology-8.pdf p.7; USD 100K at Aug 2019 rates). 2021 capital AUD 2,715,898 confirmed (Chronology-8.pdf p.6; AED 7,412,932 at 1 AED = 0.3664 AUD, Jul 2021 rate). 2022 residual equity estimated (high uncertainty) — AED 6,046,831.95 director fees were drawn in 2022 (Chronology-8.pdf p.9). Entity wound down in 2023 — all remaining value rendered nil. The combined total of all four entities therefore ends at AUD 0.
EST = estimated value; CONF = confirmed by primary source document. All values rounded to nearest AUD 1,000.
Chart A shows major assets identified in the Chronology document with approximate acquisition and disposal periods. Chart B shows material cash inflows year-by-year (salary, drawings, consulting, capital receipts, asset sales, inheritance). GoldyBlocks 2022 director fee drawings are highlighted in amber.
On 12 August 2019 — prior to the commencement of cohabitation (31 August 2019) — Martin Talvari received a capital contribution of AUD 138,910 (USD 100,000) from the Tamas family (entity Redbench Limited) into the Merakil holding entity, designated as a pre-incorporation contribution to support ongoing software development. The relationship with the Tamas family dates back to 2016–2018. This constituted the foundational investment in what became GoldyBlocks DMCC. The GoldyBlocks.com domain was purchased on 15 September 2020 as a preparatory commercial act. The entity was formally incorporated on 3 June 2021, and a second tranche of AUD 2,715,898 (AED 7,412,932 / USD 2,000,000) was contributed at that time. Both tranches of funding — USD 100,000 + USD 2,000,000 — were formalised in the same agreement at incorporation. In 2022, Martin drew AUD 2,215,559.23 (AED 6,046,831.95) in director fees from GoldyBlocks — the realisation of an asset whose foundational economic value was created in August 2019, before cohabitation commenced. The entity was wound down in 2023 with all remaining value rendered nil. This timeline demonstrates that the value was built prior to the relationship property period and extracted in 2022–2023.
Assets Timeline (Chart A): Holding periods are approximate — start = acquisition date, end = disposal/wind-down date or 2024 if still held. Values shown are acquisition cost or most recent confirmed transaction price. Equity assets coloured blue; real estate green; vehicles grey; digital assets amber. Source: Chronology-8.pdf.
Cash Inflows (Chart B): Includes drawings, salary, consulting fees, capital contributions, asset sale proceeds, and inheritance receipts by year. All amounts AUD; foreign currency converted at RBA rates per Chronology-8.pdf.
* The figures shown for each year reflect only the primary income highlights identified in the supporting Chronology document and are not a complete account to dollar accuracy. Actual total receipts for each year may be larger than the amounts represented in this chart.
Joint assets: Bowral/Hopewood property shown for completeness; held jointly with Brittany Bloomer. Estonian property is Martin's sole asset, purchased in memory of his late sister Marja Talvari (Aug 2021) with the inheritance funds he received from her estate.
Confirmed expenditure by Martin Talvari during the cohabitation period (31 August 2019 – January 2025), sourced from Chronology-8.pdf. Includes all rent, joint property contributions, vehicles, daily living, travel, and family expenses confirmed in the supporting documents. Actual total spending is likely higher — these are primary highlighted items only.
| Category | Key Items | AUD Total |
|---|---|---|
| Joint Property (Hopewood/Bowral) | Total transferred to joint CBA Jun 2021–Nov 2023 | AUD 2,257,648 |
| Rent & Housing | Woolloomooloo, Burradoo, Dubai ×2, Tallinn ×2, Finland (ongoing) | AUD ~199,800 |
| Daily Living / Groceries / Household | Apr–Oct 2020 (AUD 59,527); ADCB Aug 2021–Feb 2023 (AUD 117,236); Dec 2023 (AUD 11,661) | AUD ~188,400 |
| Vehicles | Car 2019, Mercedes 2022, Porsche ×2 2023 (gross cost; partially recovered on sale) | AUD ~206,700 |
| Travel & Flights | Dubai–Sydney business class ×2 (2021); Finland–Australia business class ×3 (2023) | AUD ~30,300 |
| Special Occasions | Brittany's 30th birthday 3-week holiday Sep 2023 | AUD 21,813 |
| Estonian Property (Martin solo) | Purchased Sep 2021 in memory of Marja Talvari | AUD 94,075 |
Source: All figures from Chronology-8.pdf. Vehicles shown at gross purchase cost; net cost after sales is lower (e.g. car Aug 2019 sold Feb 2022 at cost; Mercedes near-breakeven; Porsche Jan 2023 sold at ~AUD 20K loss).
Joint property: AUD 2,257,648 is the total transferred by Martin Talvari to the joint Commonwealth Bank account (acct 10356258) for property purchases (Jun 2021–Nov 2023), per CBA transaction records in Chronology-8.pdf p.10–11.
Loans (2024–2025 liabilities): Martin Talvari holds outstanding loans totalling approximately EUR 129,000 + USD 20,000 + AUD 5,000 (~AUD 230,000+): Christoph Holz EUR 69,000; Andrus Talvari EUR 60,000 at 12% p.a. (due Dec 2026); Edmond Huszar USD 10,000; Javier Martin USD 10,000; Adam Bird AUD 5,000.
Martin Talvari holds interests in three active corporate entities in Estonia — Falkventures, Proj1XO, and Merakil OÜ. These entities hold no intellectual property, employ no staff, and exist solely as vehicles through which he held shares or received consulting fees on a project basis. They are interchangeable shell vehicles: any one of them could be dissolved and a new entity formed to serve the identical purpose without any loss of value or function.
| Entity | Purpose / History | Current Status |
|---|---|---|
| Merakil OÜ | Used as holding/receiving vehicle for all four operating businesses — Wanderfeel Oy, Myriad Technology Conferences, BullionFX, and GoldyBlocks DMCC. Received consulting income during periods of active consulting work. | All four linked entities are either wound up or fully exited. Entity holds no meaningful assets or goodwill. No employees, no growth potential. |
| Falkventures OÜ | Established for the purpose of securing a loan with SupplierPlus. Currently carries debt associated with that loan facility. | Net liability — loan debt of AUD 119,299. |
| Proj1XO OÜ | Established to process payments in connection with a planned event in Helsinki. That event was cancelled and has not proceeded in 2024 or 2025. | No material value beyond nominal share capital of EUR 2,500. Event cancelled; entity dormant. |
Source: Chronology-8.pdf (affidavit statement). These entities are disclosed for completeness. Combined assessed value for Family Court purposes: EUR 2,500 nominal (Proj1XO) − AUD 119,299 liability (Falkventures) + Merakil nil. None of the three entities hold operating businesses, intellectual property, goodwill, or staff.