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Steveiom,
Totally agree with your comments lots of distribution deals but where are the sales figures especially for MicroSalt and SaltMe crisps. Just before the conference call I contacted Flagstaff and pointed out the lack of news specifically around Belluscura and the reply I got back was that there had been 27 RNS so far that year and the same was mentioned on the conference call. As you said Steveiom these RNS's didn't contain any real solid news about sales of the MicroSalt and Crisps or more importantly what's going on with Belluscura FDA submission, over 2 years late and has anyone got a clue why apart from they were short of the parts for the 15 units required.
I am just preparing the timeline of Salarius with my jaundiced comments, I am heavily invested here and was looking to invest more but I am holding off for the moment until I see clear and tangible signs of progress on either Belluscura or Salarius. Guident and Lucyd I am not sure about, Lucyd has been evolving but with the growing competition will it be successful and profitable ? Guident I honestly don't know, they are in an ever expanding market but is there solution required and how much money will it take to get it up and going unless one of the big boys subside us or buy us out.
More to follow later.
Adamsky
I will stand by what I've said previously no news isn't good news. There's been talk I believe of share holders in Belluscura being updated on progress but it's only rumour and if there has been progress we should have been told. We get so many useless rns about distribution agreements with no news on what they have sold but we haven't even been told if the 15 units the FDA needed have been supplied yet. Complete joke.
Guys,
Thanks for your replies, I am just a bit frustrated by the lack of solid progress. Reading through the previous RNS’s only further deepened my mood. As you say very clever people who were at the top of their game and should have lots of contacts and business knowledge but the companies are moving at a snails pace. I understand you can’t make people buy MicroSalt but Belluscura is a prime example of total mismanagement, missed deadlines, constant funding and the shareholders not being kept up to date with progress and issues.
Heavily invested and not happy.
On Friday I will post my take on Salarius after reading all the RNS’s, bit busy next few days.
Have a good evening
Adamsky
I agree with BigBang. Good summary of where we are.
All i'd add is that if someone like Guident can package up a bit of software and licence out for a few million or Salarius can get a large contract somewhere (presumably they are already on their way to some revenue through their distributors) then with a market cap of only £10 million quid the impact will be huge. Bellescura have anticipated sales of their product as H1 2021 so at this stage at least they are still anticipating FDA clearance. Incidently the bellescura website shows at least one other product to the portable oxygen concentrator Adamsky. Not sure where they are with it mind.
I'd hope and even expect some postive developments before the year end.
Regards to all
Adamsky – totally agree with your summary. The only thing I can add is that all these clever and well qualified guys are used to working for huge organisations/businesses and didn’t need to worry about where the funds came from before. I get the feeling over the past couple of years they are starting to realise that this is only a small company, that there isn’t an open ended cheque book and they need to get some scores on the doors reasonably quickly to be commercial. All the companies seem to be edging towards success, but really need at least one to succeed with some hard figures, as soon as in order to settle investors down.
Adamsky - I think the low share price and fall since 2017 reflect the disappointments.
Afternoon Everyone,
I had the misfortune of going through every relevant RNS since TekCapital floated , not happy reading really. Several patents and IP they bought which we have never heard about since :-
Measurement of Glucose in saliva and on breath
Air conditioned efficiency patents
Energy harvesting technology , mainly in arm movement
Lucyd 13 patents for augmented reality which were going to be used but now it is just sound and speech
Acquisition of new gesture recognition software
Belluscura is the one I want to concentrate on as that has been a total and utter mess of missed deadlines, will there be another one ? Loads of RNS’s on non TekCapital fund raising that is why TekCapital’s percentage has gone down to below 20% from their initial 95%. What have they done with all these millions ?
Belluscura RNS updates :-
13/4/16 - Acquired and licensed to sell 3 propriety medical devices, what has happened to these ? At this point TekCapital owned 95% of Belluscura.
16/11/17 - Were going to IPO but on the 1/12/17 cancelled
31/5/18 - Filing of FDA in 2018
19/2/19 - X-PLOR launching later in the year
26/9/19 - Is on track to receive FDA later on the year
20/4/20 - FDA clearance in H1
1/5/20 - FDA clearance in H1 and manufacture in H2
17/6/20 - FDA clearance in H2
So here we are over 2 years later and we still have not received FDA clearance. If we get it by year end I will be very happy but it is still 2 years after the initial promise.
I am heavily invested in TekCapital and cannot afford it to fail but the more I read in the RNS’s the more I became uncomfortable of missed deadlines, what appears to be a scatter gun approach to the university IP’s and woefully inadequate updates.
Are the management team at TekCapital out of their depth and should have stuck to their university IP marketing part of the business ?
We have lots of very qualified people in our main 4 portfolio companies it's time they delivered.