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Salt £41.57 million
Guident - Estimated £25 million - Could be more. It was valued at $20 million dollars ages ago and has progressed in leaps and bounds.
Bell circa £1.7 million
Lucy (how much is a peanut worth?)
That,s approximately 35p and not taking into account what the new AI company might be valued at and what potential Salt and Guident have to progress further, or Bell to continue recovering.
In spite of others views for why TEK trades at at discount I don't it can do so at such a discount for much longer.
My calcs are already out. Salt keeps adding more to the bottom line !
Salt up 10% so far today & TEK retreats, hello Cliff are you still around?
It's unreasonable to expect him to control hourly price movements.
My current view of TEK:
1. Ability to spot winners and agree initial terms for their success - 9/10 (Only Lucyd seems poor)
2. Ability to finance the ongoing growth of fledgeling companies - 2/10 (Core issue- these companies need investment)
3. Ability to install management of companies - 8/10 (Seems good)
4. Ability to IPO - 5/10 (Lucyd an embarrassment)
4. Defined exit strategy - 1/10 (not clear)
For me its the ongoing finance that is the missing element and this is also holding back the share price (as is the lack of defined exit strategy).
In the short term I would suggest a partnership with finance for businesses that are going to continue to need cash, if SALT succeeds at some point this wont be necessary (as long as they retain cash and dont give dividends).
IMHO we need a new TEK company strategy document for prospective shareholders that clearly defines, exit policy, working capital investments expectation and where funds will come from. The tough to replicate bit is picking the winners and Cliff et all have that seemingly in place - its Financing the whole thing that is the blank page at present.
Interested to see if peeps agree - I would suggest the addition of a very very good CFO / COO (probably not a family member) - if partner with Finance this person could come from that organisation - to do better cash requirement forecasting.
Cliff is the key to new fledgeling business pipeline that if linked to a tight ship should be TEK's USP , but that is limited by cash and lack of exit strategy. Whilst we dont have the machine behind him he looks poor.
My view above after a few years of being invested. Interested to hear if anyone agrees or disagrees this.
NelsontheDog, a lot of the problems you outlined arise from TEKs misconceived investment in LUCY. Giving a plumb job to a family member has damaged credibility and a lack of clarity how TEK handles the situation with LUCY going forward.
Cliff is poor at raising finance generally speaking. It is a chicken and the egg thing. Can't have financing without confidence and can't have confidence without financing.
Cliff has done well at conceiving Guident and Microsalt and to an extent BELL so perhaps there is still a role in the company in that aspect of the business. After all, he does know the university IP very well and what is available to TEK for future projects.
TEK is not a normal business and you can't just bring any old manager in to be CEO.
Hi Nelson
A draw down debt facility for each company would be better than these deeply discounted placings and not impossible to put into place. As the financial landscape is turning a corner now maybe that's something that could be considered.
Thanks CM & TC,
CM, I agree - I think it is a special vehicle. I think what is clearly missing is the Financing aspect - buy in credibility? via a new hire / partner role CFO?
TC - Debt finance facility would be great but as you and CM say, need credibility - if you cant demonstrate it, you buy it in- for me it needs that strong Finance relationship holder. Then Cliff happy focussing on development and market happy there is a wider commercial hand on the projects. If it could be done, it could be a very very strong model.
Fingers crossed on Salt then Nelson.
If they can sell a decent chunk, even 10% next year for £5-£10 mllion for example (using today's pricing for the bottom of the range) then they'll have instantly created a bit of credibility and can bargain from a far stronger position when it comes to financing.
The question remains TopCatz where that 5-10 mill goes. How much goes into Cliff's back pocket and how much goes to fill LUCY's massive cash burn.
I would like to see share buybacks. Squeeze this stock higher.
Lucy raising it's own funds more or less now with there pathetic deep discounts and warrants. I think there would be a full on riot if that were to happen, but I get your drift.
Lucy might be wrapped up and in the bin by then !
Yep, it's a shame about LUCY. The functionality of smart glasses is one of the worlds best kept secrets. It needs a prolonged advertising campaign and a network of distributors, for example Specsavers in the UK. Why hold a phone to your ear whilst juggling other things with one hand.
I sincerely hope that TEK don't end up as a bank of last resort if the final day or reckoning comes.