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If the trial had been a failure Belluscura would be obligated to tell their shareholders the result, therefore they would have to tell TEK, TEK then has a legal obligation to report this to the share holders as it is price sensitive information, they can be screwy with accounting but that's about it on AIM, they know as much as we know at the moment.
17th June RNS for Belluscura...it quotes 'good progress' and 'clearance within H2':
Tekcapital plc, (AIM: TEK) the UK intellectual property investment group focused on creating marketplace value from university technology, announces that its portfolio company Belluscura plc is making good progress with its 510K submission though it has been impacted by COVID-19 associated external supply chain issues which has increased the scarcity of certain key components, increased lead times, and reduced capacity at part manufacturers and testing facilities. Belluscura is in the process of completing the final surety tests and anticipates it will receive 510K clearance within H2.
Although things can quickly pick up I'm beginning to think that the reason they are refusing to update shareholders on the clinical trial is because it was a failure. If it had been successful we'd have been told by now given it ended in February. We still have a salt mine and some crisps to eat :)
To justify the dropping share price (large amount of volatility for small companies anyway - not necessarily a material drop) you would have to interpret the absence of news as meaning things are not progressing well in the background. I think it is premature to make that assumption. I won't be selling.
I think the mms just like to mess about with this to try and encourage traction but the only thing that will make it move is results and that is ok by me because I think there is a lot of potential for big results
Needs something to happen... dropping like a stone.
Re Lucyd, I recently got a pair and they're good for the price. However the crowdfund appears to be centered on the release of a newer version Lucyd Lyte.
Like with Tek's other portfolio companies, I think they see the big value in the IP rather than the long term profitability of such incubation projects. Tek will be open to offers for all their IP as larger companies develop their tech and may need what Tek have patented already as they move forward.
Having said that, I honestly hope Tek keep hold of Salarius, it really does seem like it could become massive even in the near term. The potential Vs mcap is crazy.
Finger crossed.
Fingers crossed we might get more trades than posts today :)
Well, that’s a bit harsh…and thanks for that, I thought I had forgotten about Uncle Ernie from the film Tommy…left a lasting impression : )
I suppose if sales were 18K and average price of the early models were £100 (That what I paid a few years back), that equates to less than 200 sales. In total, they are saying there has been 2,000 sales, so I guess we can expect more from later years, although the price was reduced.
Who knows!
So we all agree then, Lucyd is S H I T and if we were running this company it would have been packed up and shipped off to live with an abusive uncle.
I've never really given Lucyd much thought.
It was Guident that attracted me to TEK and, even though Bellascura and Salarius look potentially huge, I still think this will be one over the long term.
Agreed, patience is required. You don't get an offering at this share price / market cap if the success is guaranteed. Looking for news that things are moving in the right direction, even if the explosive success (we hope for) hasn't materialised yet.
Disappointing news on Lucyd but the abysmal sales didn’t impact on the share price, which reflects that the portfolio does not factor to a great extent in the minds of investors.
Let's hope there is better news with regard to Salarius. There is significant potential for this product in processed foods as we all appreciate. It needs to generate some significant revenue in the near term or you would think the risk of share dilution will come to fruition.
Started to rain so I thought I would come in before I electrocuted myself!
Clenchedcheeks – Yes, found the accounts now, thanks – they certainly have cranked up the operating losses in 2018 and see what you mean! Will be interesting to see the next years set, just to know if they were clearing the decks in 2018 and things will now improve? Can’t carry on at that rate..it would be good to drill down further into those figures, but I guess we will never know!
Isn't the 2.7m USD fx loss a FV adjustment to the Lucyd crypto (LCD) rather than a traditional FX loss
Thanks, must be going senile in my old age or it was a long day!…I’ll have another look after I’ve cut this hedge and haven’t broken my neck falling off this ladder looking at the phone!..Cheers
BB - The £4m figure is shown in the 2018 accounts of Lucyd Ltd which are available via Companies House. The 2019 figures should be filed by the end of August.
One alarming figure is the Foreign Exchange Transaction loss of 2.7m USD in 2018 particularly bearing in mind they only generated 18,073 USD in Eyewear sales in that year.
Correct me if I'm wrong but in my mind when you run a listed company you do so for the benefit of its shareholders. How can the board of TEK Capital justify such losses in a subsidiary over which they have control?
It's decisions such as this which put doubt in my mind, particularly given the general nature of comments from the board rather than actual numbers such as tonnage of salt sales.
I think it's a terrible product idea, in fact I'm almsot sure Oakley tried something similar in the early 2000's and it fell on its A** then too... My rant on Lucyd is over haha
Always wondered why they don't JV with sunglass companies and also a decent headphone company. The product idea is great but the style is awful and according to reviews the sounds not great. Kind of missing the key points there. Salt has always been the one here for me.
pwa, I agree and I reckon the point of the crisps is to prove they can make them, so the bigger boys come for the product, for all we know those crisps could be getting made in one of Krafts, P&G or walkers factories... Q&A needed. There is potential with the salt massive potential but it has to be marketed
Personally I cant see us having big big sales for the crisps. 1) they have been released during a lockdown with store layout changes. 2) its really had to enter the crisp market and make a dent. for me they just have to licene out the salt
Apparently someone said the reviews weren’t that great for the earlier version of the glasses. Hope there has been a marked improvement since.
I guess it would be useful to see that 2000 figure broken down into the separate years. We would then be able to see if it was building up or falling away!
The figures came from the crowd funding appeal - connection to the relevant article in my todays blog at 8.21am
Did someone mention sales of 2000 over three years? Which works out at 2 a day! Now if that isn’t a failure then I don’t know what is. Hope they add a few extra zeros in the next update. How many grams of salt have they sold and packets of crisps I wonder? I need to see big big figures please :-)
DD – They were purchased as a present for my daughter…she was wearing them all the time to start with, 2 years on now from time to time (16-year-old)
Long day, had a quick look for that £4m figure in the group accounts 2018 & 2019, but could see those actual figures of funds invested or the sales figure mentioned. What page number was it on and which year? Or have you managed to obtain Lucyd’s actual individual accounts – couldn’t see it was available from Companies House, although I’m a bit knackered from working outside! – I’ll have another look tomorrow, but if you could narrow it down, it would be helpful…cheers