Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Also CFO at Lucy, Konrad Dabrowski is CFO at Microsalt. TEK having their own team, family in key positions seems a bit of a weakness to me as accountability doesn't exist for poor performance. Cliff being a key example of this weakness with his son always talking a good game at LUCY but company performance seriously lacking IMHO.
GLA
April tends to be a good month historically.
Someone looks like they're stake building here.
I can smell the RNS-O-Meter cranking up. News on just about every front after Easter IMHO....Standard few weeks after the raise now elapsed
*throw
So, around $6 million cash burn for 2023. I get that a lot of that is getting the new lines ready and they will see return as those lines hit shops. But none the less that is a lot for a company with $4million market cap. Lets hope Agricore is correct and sales do expand quickly. The expansion in Q4 2023 was promising.
I suppose the main concern i have is Cliff going to through money at LUCY when the market won't? Especially considering it is his son as the CEO of that company. We have no real understanding of how he would deal with a company which is a failing business.
Just add,
LUCY filed a shelf prospectus yesterday to issue up to 50,000,000 shares. They are clearly planning for the need to raise at some point;
https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&ref=318188629&type=HTML&symbol=LUCY&cdn=8d4f586252311b31e9a71c27aecaa5a4&companyName=Innovative+Eyewear+Inc.&formType=S-3%2FA&formDescription=%5BAmend%5D+Registration+statement+under+Securities+Act+of+1933&dateFiled=2024-03-26
Thanks CM22,
Oak uses a highly ambitious 8x growth forecast for 2024, which is close to $12 million in revenue!! Although, given the size and quality of LUCY's retail partners, it might be achievable.
A couple of interesting points I didn't know;
a) TEK has underwritten to lend $1,250,000 at 10% interest via a convertible note. (Not sure how Cliff's gonna find the cash?)
b) BOSE have withdrawn from the smartglasses market (although they've declined to comment as to why).
Https://theoakbloke.substack.com/p/fy23-results-for-lucy-part-of-tek
What’s happened there today?
sp****ness ! lol. who said computers were clever?
i think we’ll get first quarter results by end april as there is a 30 day deadline in us. so maybe that explains the sp****ness of the ye update.
Give it time ,could be very useful,in our future values,
They'll need to increase revenues, or raise in 2024 . LUCY can't continue burning cash at that rate.
Safety glasses is an interesting one, there must be thousands of industrial environments where smart safety glasses would be beneficial.
Thanks Bads. That's actually not too bad considering they haven't really started selling via all these licence deals they have and we know they've got to have invested in inventory after the upgrade to the lytes etc so the loss is no surprise
Maybe there's life in this little runt, yet but they'll have to crank it up right here
Harrison Gross remains bullish about the future;
"We believe we're poised to potentially capture significant market share with our upcoming product releases and anticipated global expansion."
Https://www.prnewswire.com/news-releases/innovative-eyewear-inc-reports-2023-financial-results-302098072.html
Revenue up 75%, but net loss increases.
Yes, i am afraid Cliff has proven inept at raising financing. Raising at a 30% discount to the SP is very poor relative to the industry. Especially when the business has such potential and is already discounted so much against NAV. I am relieved that Guident will be doing its own financing from now on and not relying on Cliff.
A raise above the share price.
https://www.lse.co.uk/rns/SYM/subscription-primarybid-offer-and-notice-of-gm-ebq7vb1l9l5v239.html
You don't have to give away the silver at half price all the time.
Puma so true. I got out a few weeks ago. At 12p. Many better companies are starting their moves. Reporting next week Good Energy, Trufin, Time finance, Journeo all moving well city has lost faith with Cliffys failure to deliver.
Microsalt and Guident will see this hit multiples of 18p in my humble opinion
I'm in this to try and get some of my £15k I'm down back. It seems that any time the SP starts to rise Clifford raises to pay his wages and bonus which then sends the share dropping like a stone as people loose any sort of confidence in the possibility of it holding its value. If It should ever reach 18p again I will be running for the hills. After 4 and a half years of hope and waiting patiently all I see is raise after raise to kill the share price. 3 IPOs down and he eventually managed to get 1 right.
Never look a gift horse in the mouth as the saying goes