Aeristech is a £350k investment which has not IPO'd in the 2 years we have held it. If it does IPO and we double our investment then great, but that would add £350k to the investment portfolio. Bear in mind ENSI doubled and gave us over £750k extra and the SP has done nothing but slide. Sentiment is the main driver here. Even with ENSI falling we are still valued £1m less than the investments and cash balance.
Current SP at time of writing is 0.198p gives us an MCap of £3.18m
Current value of live investments (at time of writing) - £3.35m
Money in Bank roughly £0.85m
Still valued £1m less than live investments and cash in bank.......
As a minimum I would say the SP should reflect the Live investments and cash balance. that would mean the £2.7m in non current investments is valued at zero. I think that would make the SP around the 0.25p mark.
Its a waiting game unfortunately, we are roughly valued at the cash in the bank plus the ENSI Investment and that's it. We have another 12 investments which the Market has valued at 0.
Live Investment Value plus cash - £4.16m
Mcap - £2.55m
Valued £1.6m BELOW live investment and cash in the bank.
Non Current Investments - £2.7m
in the scenario our non current investments come off (Aristech IPOs and SGSC commercialise) and become live and are valued at just the initial investment value then there will be another £2.7m added to the live investment total, where would the MCap be if that happened?!
Value of Live investments (at time of writing) - £3.429M
Cash in Bank (per Quarterly update, will be lower than this figure) - £864k
Non Current Investments - £2.7m
Total - £6.99m
Total Minus Non current investments - £4.293m
Current MCap - £2.55m
Figures speak for themselves. the £750k invested in ENSI has a value (including disposal amounts) of £1.6m.
I know the BoD have messed up the majority of the investments BUT the 2 largest live investments are currently the ones boasting the biggest returns. Jury is still out on the SGSC investment but until we hear something either way it will sit there.