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Does TEK still own 77% of Microsalt. SALT mcap £43M - 77% X £43M = £33M. tek mcap = £18M!!
This is ridiculous - even if we were to shut Lucyd to reduce any future cash obligation, we are hugley undervalued with Guident not even in the mix.
Super disappointed and TEK management need to address this gap imv if they want people to invest.
Yes , SALT has a long way to run . the problem isn't with the investments - its the managements tendency to announce new share issues at a ridiculous discount to the share price in order to award themselves bonuses
Treating the shareholders like a blank chequebook seems to be an AIM trait...
That’s funny I thought the share issue money went into the portfolio companies. That’s what the RNS say anyway. How else is a pre revenue business going to raise funds anyway?
Decided to split my TEK holding into 3 - tek, salt and bell. Might buy some lucyd as it could pivot dramatically from here with some sales although I note the Oak Bloke comments.
BillfromBristol - the share issue money DOES go into the portfolio companies.
But each fundraise dilutes the value of Tek's holding, as it increases the number of shares in issue.
NelsontheDog - in Microsalt's case, the value gap is mainly down to Tek being unable to sell any SALT shares for the first 12 months post-IPO. So its value is as yet unknown. Also, to date, Tek hasn't demonstrated it can unlock any value in any of its holdings. Rather than sell, it has held on, only to see the value of its Lucyd & Bell holdings plummet.
Gross senior paid himself £500k last year and Gross junior $291k. That is a lot for a small company with a small market cap to absorb.
Yes I know. How else do they raise money pre revenue ? It’s not a surprise. It’s the usual route.
Hi BillFromBristol, one avenue is what Guident are doing and doing a private funding round.
$791k a year going straight to the Gross family hey! Didn't Cliff get another family member on the gravy train also? Was it Mallory Gross, Harrison's sister possibly ?
Yes indeed. But that’s for equity too so there will be dilution.
I think we’ve seen the last of the dilution as tek holds a fortune in microsalt shares. Another 9 months to go before the share lock is released.
Gross has got to be embarrassed by the disconnect here surely. Every holding on the move today and TEK going nowhere.
Something has to give somewhere - question is what and where (or who)
If Gross isn't embarrassed then the board should be. They need to provide clarity on certain issues.
Agreed CM. So much potential and value to be unlocked. This should be 40p today, and would be if management could get their sheet together
Hey Top hope your well , I really can't see anything changing until he's out . There's just no trust at all , and when you see him lining his pockets oh and his son who's done feck all apart from lose a shed load of money on glasses I don't think much will change in the short term . Let's hope I'm as wrong as wrong can be !!
Meanwhile keep buying salt
Yeah, all good hear Sea thanks. Hope you're well too.
It's pretty frustrating. We have 2 mega companies and 2 that have the potential to recover quite dramatically but here we sit at what could be about 25% of NAV if Guident is worth north of $20 million which I think it could easily be.
There's a lot of drivers in the background that could really ignite this but I agree Gross, isn't do the SP any favours.
The AI company needs to be revenue producing imho, even if it's a small revenue. That would be good to see, as opposed to something years off lift off !
I think the picture is pretty clear. SALT up 50% in a week. BELL up 66% in a week. Guident going from strength to strength and about to given a handsome valuation. Yet LUCY which is already worth next to nothing to TEK falls. TEK doesn't move.
Where are the TEK management? They need to actually do something for once.