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£4m, that's a lot of money. I have visions of Peter Jones in the Den with his jaw dropped, saying "That's not a business. You need to stop now".
re: TL
I obtained the £4m figure from the November 2018 accounts of Lucyd Ltd.
Companies generally have a Q&A at the AGM... I'll be speaking to my broker to get some on the agenda if possible.
I asked if they were proposing a Q & A, the response was 'we have nothing planned'. Guess they don't want to get questions the can't see in advance.
Well said CC, exactly why we need to have the Q&A to properly attack silly management decisions like this, people need to be held to account... where did you get the £4m figure from?
As of November 2018 they'd spent in excess of £4m generating sales of £18,073.
Sometimes it's better to accept that a product isn't going to catch on, rather than throw more money at it. Instead, Cliff resigned as a director and appointed his son as a director.
Gravy train springs to mind
Looks like I'm beginning to see clearer now about our long term prospects. Looking forward to some more positive news shortly. https://www.imore.com/lucyd-loud-bluetooth-enabled-sunglasses-review
I love ideas that reduce the number of items, wires and chargers we need. Doing away with earphones sounds appealing to me, if the glasses provide quality sound and do not require charging every couple of hours. BigBang - what do you think of yours? Do you still use them, or have you consigned to the back of a drawer?
salt and air sold it for me
Respect Trading Lad.
I'd tend to agree with those comments in general TL but I'm willing to be pleasantly surprised. TEK management see something there and the Walmart outlet gives them plenty of exposure now so it has a chance 'If' good enough.
Personally (and I'm not trying to ruffle anyone's feathers) I don't think Lucyd has any impact on the TEK share price at all, if I'm being blunt I think it's a pathetic product that has sold 2000 pairs in 3 years, Del boy could do better down the market. it must be costing FA to run or they'd have amputated the leg years ago, pun intended. This sort of product may appeal to kids but kids don't invest. If it turns into a wonderful product I'll humbly retract my words but I just cannot see it. I'm here for the salt and air, boring products make money!
Good plan BB - It will all be here later :)
It’s quite funny if you think about it…the very time an RNS would be appropriate, nothing!!!
I see the market is really excited about the news. Where are we..9.10am and not a single trade…perhaps everybody has fallen asleep!!
Anyway, I’m so excited about this development, I think I will do some gardening for the rest of the day and catch up this evening!
I only found out about this morning when I received a Lucyd e-mail advising of the crowd funding. I think I receive these e-mails from time to time, because I purchased a pair a few years ago!
Nice bit of marketing BigBang. It looks professional which will help and they have a sponsor there too so good (I think)
Well, I suppose we now know their sales figures!
‘Lucyd has developed and sold over 2,000 pairs of Bluetooth eyewear during the past three years, and launched three different product lines.’
Anybody out there or has everyone fallen asleep!!
I suppose looking at the basic figures – company valued at $3.75M, with max. offering $1.07M equates to 28%. I’m not familiar with these new crowd funding type things, but I assume that our existing company will continue to hold the remaining 72%, assuming it is fully subscribed?
Anybody else on here up to speed with these type of things?…or perhaps we will find out more Monday!
Interesting development – Until details are received, not sure if it is a good or bad thing!
Announced a new crowdfund under Innovative Eyewear, Inc. which is a new US entity, that controls the Lucyd brand and technology portfolio.
They will be will be releasing a full corporate update on Monday and I guess we will find out if the existing Lucyd company will have a stake in this new company to compensate for the transfer of IP’s or simply payment..or perhaps it depends on how much is raised?
‘Here are a few important details. First, the crowdfund is being done under Innovative Eyewear, Inc., which is our new US entity, that controls the Lucyd brand and technology portfolio. Second, the offering is closed to citizens of Canada and the UK due to regulations. Third, it is a Reg-CF (registered crowdfund), a new legal process that allows US companies to raise up to $1.07m USD per annum. We are fully compliant with the SEC in this raise. Finally, this is a limited opportunity, and the crowdfund will close either on September 30th, or when we raise our stretch goal of $1.07m.’
I guess we will just have to wait and find out details..or raise a question at the AGM
https://www.startengine.com/innoeye?mc_cid=f0d6ea8bb3&mc_eid=c26dd838f8