What Tekcapital does:
IP development:: Tekcapital PLC’s (LON:TEK) core business is to commercialise innovations developed in universities.
A related services business helps companies find, evaluate, and license university technologies.
Salarius (97.5%) produces a proprietary low sodium natural salt called MicroSalt, whose crystals deliver the same sensation of saltiness with 50% less sodium. Salarius has a fair value of $2.7mln.
Lucyd (100% owned by Tekcapital) is an online manufacturer and retailer of augmented reality eyewear. The fair value fell by $1.6m to $1.4m in the period just reported but Lucyd has just launched a new product ‘Sherman Shades by Lucyd’ endorsed by the cornerback of the San Francisco 49ers Richard Sherman.
Guident (100%) is an owner of IP for technology used in apps to control autonomous vehicles (AVs). Fair value is US$12.7mlm, arie of US$4.1mln. The autonomous vehicle market in the US alone is projected to reach $35bn by 2033 for autonomous vehicles and drones,
Belluscura (19.2%) has developed a patented portable oxygen concentrator. In September it month announced that it has raised £750,000 at a 50% premium book value and re-affirmed FDA approval is expected later this year with launch commercially in 2020.
How is it doing
Revenue in the half-year to May 2019 increased from US$1.3m to $5.4m largely from unrealised investment gains and Guident in particular.
NAV per share increased to US$0.38 from US$0.30.
FinnCap has a price target of 32p on the stock based on its valuation.