We are excited by and steadfastly believe in the future prospects of Polarean and its important technology.
What Amphion does
The firm currently has shareholdings in seven partner companies that are developing technologies targeting what it says are “substantial commercial marketplaces” worth in excess of US$1bn.
What Amphion owns
The company has stakes in seven partner companies;
1. Axcess International – 15.07% stake – provides wireless systems that help monitor business activity in real-time in sectors such as transport and security
2. FireStar Software – 11.86% stake – develops software the helps companies to integrate and exchange data electronically in a private, secured structure
5. PrivateMarkets – 25.33% stake – an online marketplace that links buyers and sellers of physical commodities such as gold and copper
6. WellGen – 24.34% stake – develops foods designed to help treat inflammation-based illnesses. The company also has a proprietary black tea extract that has been demonstrated to improve performance and recovery benefits such as a reduction in muscle soreness and reduced recovery time
7. DataTern – 100% stake – a company established for Amphion to commercialise intellectual properties that originate from its portfolio companies
Company is in talks to extend loan facility currently of US$2.8mln
Loan facility is secured against stakes in Motif Bio and Polarean
Shares pledged were worth US$5.3mln in August
Amphion said it is working hard to try and replace or amend the loan facility to extend the repayment date past 30 September 2019 to ensure it does not have to sell more shares than entirely necessary.
"We are excited by and steadfastly believe in the future prospects of Polarean and its important technology," it added.
At 0.15p Amphion has a market cap of £310,000
Total debts in its last statement were said to be US$30.3mln