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THAT RNS IN FULL:
Clifford M. Gross Ph.D., Executive Chairman of Tekcapital plc commented:
"We're pleased to consummate this funding round which will enable me to continue paying myself a huge - yet fully deserved - salary & bonus, as well as forming a Generative AI portfolio company, guaranteeing further regular dilutive funding rounds for the foreseeable. PS: Sorry about my repeated special dividend promises - would love to chuck long-suffering shareholders a crust, but unfortunately the cupboard's bare right now."
@lordloadsofolly: Ahhh my apologies - you are absolutely correct not -80% - was supposed to write near ~ -50%). Thumb slippage @_@ haha!
ATB.
10p zone is the area to buy
Don't start chasing when it head back 11/12/13p shortly
Well to lighten the mood , just watched a video on automated Taxis in Whuan China , expanding big time . Anyone else get back in sub 10p ? Top? .
IP3LY - I agree with almost all of your post (other than the 80% loss bit. An 8p drop on 18p is a "mere" 44% loss!)
Only yesterday I wrote:
"There's a lack of clarity about how investors are ever going to reap the full rewards, should any of Tek's holdings really take off. A steady stream of positive revenue news from SALT over the 12 month lock in period might help to an extent. But not if investors fear most of these gains could simply be pumped into Tek's next venture. As for Tek looking to muscle in on AI, well good luck with that, but I think you're already a bit late to the party/ hype."
So here we are - just a day later - with most of those illusory Microsalt paper gains flushed down the loo to fund an "exciting" new AI venture. Which, as you say, is likely to be hugely capital-intensive (i.e. highly dilutive to existing Tek shareholders) & way too late to market to reap any significant reward.
Tek continues to be totally uninvestable at the moment (to all but the most masochistic who get a thrill from losing money).
Hate to say it - but this was exactly what I was talking about when I mentioned last month “Dont get fingers burnt at the top” - esp. Those who bought in at 18p with a large sum - and now harbouring -80% loss.
Cliff has changed his ways - because he’s seen the money he’s made through the years (gone from Dr. who probably cared about his work, and as years gone by he’s been advised this is how you make big bucks - ie. Float on AIM and Pump and Dilute and Repeat).
Those that have been in this for years - when it was all starting off with the companies - there was an RNS very consistently - almost like clockwork - as they released near or exact dates as previous RNS.
Now,it’s whenever - which falls back to alot of AIMs that are established. Once you realise that - it’s either time to move on or shut the draw and wait it out - and hopefully dont forget the password or you even own them lol!
Regarding the AI Company and using some monies they’re going to raise for that - is too late to the party imho (yes AI will be improving and advancing), and once the AI flavour of the years subsides.
That money will be going straight to Cliff’s and Co. pocket in the meantime - and the BS spin off will be the burn rate of the new AI company has to go through and overheads etc. will result in another dilution at the end of the year…..and repeat.
Protect your hard earned cash, and always do your due diligence when buying into AIM esp. those who are new to Tek perhaps because of what they see with recent Microsalt.
GLA & ATB.
Smart buyers taking advantage of the dip today
Should see 12/13p as the magnet over next week or so
Flushed some bottom sellers. Prob same people who bought it at 18p last week
Now it should march on higher
Funny isn't it how there's always a big sell off just before a placing, it's almost as if people have been tipped off just like the insiders over at AVCT. But surely that wouldn't happen on a highly regulated market like Aim 🤣
It's down to pure awful sentiment I think Clenched. For me Lucy was the really blow. Stupid business to get involved in full stop. Bell, just unfortunate but they were totally right to back it.
Perversely as sick as i am with how they've managed this over the last couple of years we know that there is potential and that the SP can shift like crazy when it get's a headwind.
Just have to sit tight for now I think
Building a decent position. Shame i bought some at 12p, i thought that was good after 18p. However i think this is the zone post cash raised
Looks like it should go better from here. Money in bank. Should be lots of newsflow
Cheap at this price given it was 75% higher last week
Only 3 companies left on aim for me. Won a few lost a few over the years but won’t ever invest in this corrupt market ever again. Sold 1/3 of these at 18p so contemplating taking a small hit on the rest. Average is 12p
I had so much faith in this company. Sold on recent spike to recover my money.
Just no end in sight to monetise the assets.
Can’t sell Microsalt for a year, BELL and LUCYD need time to recover and clear Guident continues to need funding and now a new company that clearly is going to need funds.
So corrupt that the price dropped over last few days then this placing.
Good luck to the faithful.
How much has been spent on that Guident RMCC? I'm sure they've raised a substantial sum for it previously.
Seriously two steps forward and three back with TEK. I struggle to comprehend why two of the major holders continue to add, which they have done at much higher prices than these. They must be sitting on significant paper losses.
Here we are after possibly our best hope has floated and doubled it's price, at almost the same price for TEK as we were before their float.
Https://www.youtube.com/watch?v=ZA_Tl1kvlQU
This new AI start up better be good
Just had a few more. Seriously overweight now. I ll be selling this latest tranche in the non too distant but 10p is too good to pass up on.
Cliff has some serious work to do now.
Disappointing given ity hit 18p last week
However they now have cash to deploy and some exciting opportunities await
I expect to see it do well from this 9/10p area
Did Cliff see this as the last chance to find an entry point for his chums well below NAV?
I can’t believe that money could not be raised on better terms than this. Rinse and repeat.
I don’t really get either the overreacting market or hysterical schoolgirl wailing on here. The RNS clearly says the £2m will be used to develop Guident and the associated regenerative businesses AND start a new, 5th portfolio business.
Yes the SP has inevitably gone down towards the raise price, but that is just how these companies work. I only have £1k invested here having sold most of my holding at a big loss. It’s a share to trade. To buy today on the dip. And then sell in a few months when SALT announces its latest retail or manufacturing partner, or whatever the next RNS is.
If this is so distressing, you clearly have too much invested / gambled here!
“ I don't really get what 'bad news' could be. If they want to raise some money then they can sell BELL stake.”
We did not need to wait long for the answer cm22.
I'm actually shocked even though Iv grown to detest Cliff over the months even I couldn't have predicted he would have fu..Ed the stock after a great IPO , he really is the worst CE out there . Sun 10p coming after Microsalt is worth so much how has he even done that
yep another bull**** dilutory action - just as the share price briefly touched my entry point
Makes sense that share price not only dropped yesterday but earlier in the week as clearly some knew.
Represented more like a 25% discount to the earlier share price in the week. Small investors have no chance!
F..k Cliff he's corrupt end of . Glad I sold a portion yesterday, Cliff only woke up to raise money for his salary