Member Info for Clenchedcheeks

Yep, but wouldn't it be normal practice to you have your funding arrangements in place prior to product launch?

The message that several posters have conveyed is one of disorganisation and poor cashflow forecasting.

Is it not Nigel Wray, using the RBC as nominees? If so, Nigel Wray has long been involved.

Others will correct me if I'm wrong, but we all on here have belief in the products. We just fail to understand how you can't get paid within a reasonable time period for a product for which they said that they had advance orders for and thereby recycle the cash receipts every 28 days or so into manufacture, sale and so on. That's how other businesses grow and for those that are short of cashflow they use invoice discounting or another instrument to generate funds upon the sale of goods. I believe DFS generated their cash immediately by selling each unit sale to finance providers at a discount which the finance companies then collected in full from customers over 4 years. Surely that type of facility could work in principle with Belluscura's products.

On 26th September the Q4 sales target was estimated at $4m

On 28th October the Q4 sales target is estimated to be between $1 - $1.5

Seriously?

If you know so little about your company and it's funding requirements that you can be so far out in terms of projections, you should look in the mirror.

Lacking in impartiality.

It's going to take some earth shattering news to move this share back to where I'm into profit and I don't see where that's going to come from.

Next week it'll be nine months since the Microsalt float and they've not made the significant B2B order announcements that I was expecting.

LUCY chase turnover rather than profit because the key players haven't had to sink any of their own money into the project whilst being handsomely rewarded by way of salary. Will it ever make a profit?

Guident is ahead of it's time as was Sir Clive Sinclair when he launched the C5. Will there be a significant need for driverless cars in the immediate future? How much did we invest in the shocks and how much business has it generated?

I'm cautiously optimistic on Belluscura but TEK barely has a holding there now.

I've no doubt that I'll be shot down by some, but I agree with lolly that the one year tie in period that TEK agreed with the BELL and SALT floats has come at a huge cost to TEK shareholders as shares could have been offloaded post float when there was great demand and much higher share prices.

Was that last announcement it? I can’t believe it. I was expecting a major player.

I’ve been sold stories by everything TEK for several years to the point where I don’t believe any of them.

What happened to that deal he had on his desk ready for sign off that we would be impressed by?

Yep as a long term TEK shareholder myself, I share your pain!

Why would it turn?

Q4 is key here

I agree TC, without further information it's impossible, however in my opinion that 7% allocated to Cliff should have been allocated to TEK because it was TEK (via a fundraise) that funded the set up of NewCo and NewCo would appear to be a spin off of part of TEK's existing business. How else would they have some many enquiries at start up? If Cliff had any part to play in the creation of NewCo then surely it can only have been whilst he was wearing his TEK CEO hat.

Thinking ahead to future start ups, who will provide the funds - TEK or will NewCo also be allocated shares? TEK shareholders will only benefit to the tune of 64.25 of NewCo and that's without the inevitable dilution that will no doubt take place.

I'll leave it at that until audited accounts are available for TEK.

Baf3

I'd be careful when making snidey remarks such as that on here, because some of your previous posts are laughable.

In terms of overhead, are you saying that Cliff's salary will be transferred to NewCo going forward. What about the other directors salaries? If it means that TEK will have no overhead going forwards then great, but I imagine TEK will be retaining some large overheads whilst foregoing the income stream that existed previously, so TEK may still need to dilute holdings. to pay ongoing costs.

Badster

I agree with you entirely. TEK appear to have converted the servicing side of the business to NewCo in order to free up a lump of money to cover ongoing costs. TEK is now minus one part, the part that generated income and it's sole purpose appears to be to hold the shares in the portfolio companies. I'll reserve judgement on the approach taken until they can crystallise the value in some of the portfolio companies shares and pay a special dividend to shareholders as promised some time ago.

In the meantime, Cliff creams off 7.1% of an estimated £6.5m(£461,500) of NewCo for personal gain, when as CEO of TEK for which he's been handsomely rewarded, he should be solely focused on the interests of TEK shareholders. As TEK shareholders we've lost £461,500 of the market cap of NewCo to a CEO who's now wearing two hats.

I agree in part TC.

I see Cliff has fashioned a 7% personal stake in addition to his interest as a major shareholder in TEK. Did he work on this in his own free time, or would it not normally be expected for him to have done so in his CEO role with TEK? Talk about self interest before shareholder interest.

If someone wanted to buy Guident they could probably have done so by now as I'm sure TEK would be open to offers.

I hoped that Waymo might use their services but it doesn't appear to be.

Where's imho at the moment? It's been a while since he posted

Couerdelion

They've still sold 23% of their remaining holding, which by the way was significantly watered down in a relatively recent sale.

It's disgraceful. They're driving the share price down by their actions. The current BOD are adding no value whatsoever and they're bleeding the company dry.

The recent sales figures announced by BELL were very promising but by the time their share price reflects those sales and TEK have sold a few more in the meantime we'll have nothing to show for years of investment.

The share price has gone south since Willetts came onto the board. What value are these people adding for shareholders.

Some of the largest shareholders bought in at much higher prices. What must they be thinking?

TC. Only joking. If you're in this as deep as me, you'll be as disappointed and frustrated as I am.