IP and technology specialist Tekcapital (LON:TEK) said it had made 'solid progress' on goals laid out when it joined AIM in 2014, with its large market opportunity continuing to grow.
Posting results for the period to end November, the group said it had expanded the group's technical and sales team and opened offices in Florida and Singapore.
In the first four months of 2015, the group has acquired the exclusive rights to 16 separate intellectual properties in reduced-fat food production, non-invasive glucose measurement for diabetics and advanced optics, it noted, while a recent fundraise of £2.15mln will allow it to expand much faster.
Tekcapital has a database of thousands of patented ideas from universities around the world that multinationals and other major organisations can access by subscription.
It has also started to buy or partner with universities on specific inventions.
In keeping with a firm in formative stage, where costs are running ahead of revenues, losses for the period to Nov 30 were US$994,869 on revenues of US$ 210,337.
The firm repeated it had been focusing on costs and various measures have reduced its monthly fixed operating costs.
"The directors are confident that meaningful revenues will arise from the sub-licensing or on-sale of rights held in its new IP portfolio.
"With an increasing number of companies making ever faster and more disruptive use of innovative ideas sourced exogenously, and with patented university technologies an increasingly valued currency, the market opportunity for the group is both very large and continuing to grow," the group told investors.
Shares dipped 2.26% to 32.5p.