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Vox Market Podcast – Alan Green talks about Smart Metering Systems #SMS, Sovereign Metals #SVML& Tekcapital #TEK

Alan GreenCEO of Brand Communications  about the following companies:

Following

https://www.voxmarkets.co.uk/articles/alan-green-talks-about-smart-metering-systems-sovereign-metals-tekcapital-30a7f33

#TEK Tek Capital PLC investee co #BELL Belluscura PLC – Placing of Unsecured Convertible Loan Notes

Belluscura plc (AIM: BELL), a leading medical device developer focused on lightweight and portable oxygen enrichment technology, today announces that it has raised approximately $5.0 million (£4.1 million) through the conditional issue of a 10% Unsecured Convertible Loan Notes 2026 (the “Placing Loan Notes”) (the “Placing”).

Dowgate Capital Limited (“Dowgate”) is acting as sole placing agent, bookrunner and broker in connection with the Placing a nd SPARK Advisory Partners Limited (“SPARK”) is acting as the Company’s nominated adviser.

Background to the Placing

The Company announced on 13 January 2023 that it has made considerable progress in the past year. In March 2022, the Company signed a manufacturing Master Supply Agreement (“MSA”) with InnoMax Medical Technology, Ltd (“InnoMax”) to manufacture the X-PLOR portable POC in China and took the decision to transfer its US manufacturing in-house, to increase production output at high quality standards, and achieve a significant reduction in production costs. This was successfully completed at the end of July 2022, simultaneously achieving ISO:13485 accreditation, which allows the Company to apply for international registrations. 

The Company launched the next generation X-PLOR in September 2022, which has been well received by the market based upon its performance and reliability and is now distributing throughout the US through multiple sales channels.  In addition, the collaboration agreement with the VGM Group has resulted in 17 new distribution agreements in the last three months, and in December 2022 the Company signed its first international distribution agreement with MedHealth Supplies of South Africa, with the first shipment selling out within 48 hours.

By 31 December 2022 the Company had shipped or received orders for 2,850 X-PLOR units with 1,226 units being shipped in 2022 (2021: 377). The Company stated that at the year-end it had retained cash balances of $1.8 million, which together with inventory and inventory deposits, amounted to $11.9 million. 

The Company is pleased with the sales momentum of X-PLOR, aided by the InnoMax agreement in China, and the successful change of strategy to in-house manufacture which has resulted in improved quality controls.  The expanded global operation and in-house manufacturing capability has led to a growth in inventory levels and therefore requires additional cash resources to finance raw materials. These inventory levels will see a significant downward trend over the next 12 months as the InnoMax operation comes fully on stream. 

Further, in order for the Company to deliver on a successful launch of the DISCOV-R product, which is expected to be launched for pre-market evaluation in Q1 2023, with full commercialisation anticipated in Q2, the Board is seeking to raise a minimum of $5.0 million through the Placing Loan Notes.  The Company has also issued a Broker Option to enable Dowgate to arrange the placing of further loan notes to raise up to an additional approximately $5.0m (the “Broker Option Loan Notes”), together with the Placing Loan Notes (the “Loan Notes”).

Placing of Loan Notes

Dowgate has conditionally placed $5.0 million (£4.1 million) of the Placing Loan Notes with a select group of investors, including certain existing Belluscura shareholders (“Shareholders”). 

Pursuant to a placing agreement between the Company, SPARK and Dowgate dated 27 January 2023 (the “Placing Agreement”), Dowgate has conditionally agreed to use its reasonable endeavours to place $5.0 million (£4.1 million) of the Placing Loan Notes. The Placing is conditional, inter alia, upon passing certain resolutions (the “Resolutions”) that will be proposed at a shareholders’ meeting to be held on or around 16 February 2023 (the “General Meeting”). 

The Placing is not being underwritten (in whole or in part) by Dowgate, SPARK or any other person.

Broker Option

Given that the Placing has not been offered on a pre-emptive basis and in  order to accommodate potential additional demand for Loan Notes, the Company has granted the Broker Option to Dowgate to enable Dowgate to fulfil any additional requests to participate in the Placing, for up to a further approximately $5.0 million (£4.0 million). The Broker Option is exercisable by Dowgate at its absolute discretion, at any point up to 5.00pm on 9 February 2023 and there is no obligation on Dowgate to exercise the Broker Option or to seek to procure subscribers for any Broker Option Loan Notes pursuant to the Broker Option.  Any Broker Option Loan Notes issued pursuant to the exercise of the Broker Option will be issued on the same terms and conditions as the Placing Loan Notes.

The Placing and Broker Option (together the “Convertible Loan Note Financing”) when combined will, if the Broker Option is exercised in full, and assuming all interest on the Loan Notes is capitalised, result in the issue upon conversion of the Loan Notes up to 21,590,029 Belluscura new ordinary shares, representing approximately 14.9% of the enlarged issued share capital of the Company.  

Terms of the Loan Notes

The key terms of the Loan Notes are:

Instrument  10% Convertible Unsecured Loan Notes 2026 constituted pursuant to a loan note instrument dated 27 January 2023 (the “Instrument”).  The Loan notes will be transferable in accordance with the terms of the Instrument but will not be listed on a public market

Issue Price  Loan Notes of £1.00 issued at par

Conversion  Convertible into ordinary shares at a conversion price of 50 pence per share.  Conversion at the holder’s election on the final business day of each quarter, commencing on 30 June 2023 and otherwise automatically at 3 years from the date of the Instrument (the “Maturity Date”)

Repayment  On the Maturity Date, unless otherwise converted

Term  Three years from date of issue. Loan Notes are not redeemable in cash, other than in exceptional circumstances, but are converted into ordinary shares in the capital of the Company on their Maturity Date in accordance with the terms of the Instrument.

Coupon  10% per annum, paid annually.  The coupon to be paid in cash or capitalised at the Company’s discretion

Minimum size  £1,000

Directors’ and connected party participation in the Placing

David Poutney and Adam Reynolds are Directors of the Company. Nigel Wray is a Substantial Shareholder (as defined by the AIM Rules). Each of David Poutney, Adam Reynolds and Nigel Wray have agreed that they will participate in the Placing as set out below. 

Name

Holding of Existing Ordinary Shares

Current holding as percentage of Existing Ordinary Shares

Placing Loan Notes Subscribed

Number of  Shares issued on Conversion of Loan Notes (in event of conversion)**

David Poutney*

12,455,731

10.1%

£500,000

1,000,000

Adam Reynolds

1,728,176

1.4%

£25,000

50,000

Nigel Wray

13,564,413

11.0%

£500,000

1,000,000

* includes 2,658,314 Ordinary Shares held by Vivienne Poutney, Mr Poutney’s spouse.

** excluding any accrued interest on the Loan Notes that may be capitalised at the Company’s option

Related Party Transaction – participation in the Placing

As set out above Directors David Poutney and Adam Reynolds, and Substantial Shareholder  Nigel Wray have agreed that they will participate in the Placing of the Loan Notes.

The participation in the Placing  by each of David Poutney and Adam Reynolds constitute related party transactions under the AIM Rules for Companies. As such, David Poutney and Adam Reynolds are not considered independent for the purposes of AIM Rule 13 in relation to these related party transactions. 

Robert Rauker, Anthony Dyer, Dr. Patrick Strollo and Richard Piper who are Directors of the Company, are considered independent in relation to the consideration of these related party transactions under AIM Rule 13.

Having consulted with SPARK, the Company’s nominated adviser, the Independent Directors consider that the terms of each of David Poutney’s and Adam Reynolds’ participation in the Placing of Loan Notes are fair and reasonable insofar as Shareholders are concerned.

All the Directors are considered independent in relation to the consideration of the participation in the Placing by Nigel Wray.

Having consulted with SPARK, the Company’s nominated adviser, the Directors consider that the terms of Nigel Wray’s participation in the Placing of Loan Notes are fair and reasonable insofar as Shareholders are concerned.

Related Party Transaction – Dowgate’s participation in the Placing Agreement

As set out above, certain Directors and a Substantial Shareholder have agreed to participate in the Placing. The proposed participation by these parties constitute related party transactions under Rule 13 of the AIM Rules.

David Poutney, a Non-Executive Director of the Company, is Chairman of, and a major shareholder in, Dowgate Group Limited (“Dowgate Group”) and Chief Executive of Dowgate, a wholly owned subsidiary of Dowgate Group. As set out above, Dowgate is party to the Placing Agreement, under which Dowgate will receive:

–  a fee of £40,000;

–  commission amounting to 5% of funds raised in the Placing*; and

–  commission amounting to 5% of funds raised under the Broker Option*,

  * excepting any subscriptions made by Directors

Entering into the Placing Agreement constitutes a related party transaction under the AIM Rules for Companies. 

As David Poutney is not considered independent for the purposes of AIM Rule 13, Robert Rauker, Anthony Dyer, Dr. Patrick Strollo, Adam Reynolds and Richard Piper (the “Independent Directors”) have considered the terms of this related party transaction for the purposes of AIM Rule 13. 

Having consulted with SPARK, the Company’s nominated adviser, the Independent Directors consider that the terms of the Placing Agreement are fair and reasonable insofar as shareholders are concerned.

Shareholders’ Meeting 

The issue of the Loan Notes is conditional on the passing of certain resolutions (the “Resolutions”) that will be proposed at the General Meeting.  The Resolutions will, inter alia, increase the current authority to disapplying the relevant statutory pre-emption rights in relation to the issue of new ordinary shares in the Company, sufficient to enable the conversion of the Loan Notes in full. The Resolutions will also seek an amendment to the Company’s Articles of Association to amend the restriction on the Company’s borrowing powers and align it with that of guidelines issued by The Investment Management Association.  The amendments to the Articles of Association will allow the Company to incur borrowings up to an amount equal to two times its adjusted capital and reserves from time to time and, as a result, the Company will be permitted to issue the Loan Notes. 

It is expected that, subject, inter alia, to approval by Shareholders of the Resolutions at the General Meeting the Loan Notes will be issued to placees on or around 17 February 2023.

A Circular and notice of the General Meeting are expected to be sent to Shareholders on or around 31 January 2023.  Notice of the General Meeting will made available on the Company’s website: www.belluscura.com.

For the purposes of this announcement, a currency exchange rate of $1:£1.2375 has been used.

For further information please contact:

 

Belluscura plc

Tel: +44 (0)20 3128 8100

Adam Reynolds, Chairman

Robert Rauker, Chief Executive Officer

Anthony Dyer, Chief Financial Officer

 

SPARK Advisory Partners Limited

Nominated Adviser

Tel: +44 (0)20 3368 3550

Neil Baldwin

 

Dowgate Capital Limited

Broker and Bookrunner

Tel: +44 (0)20 3903 7715

James Serjeant / Russell Cook

 

MHP

Financial PR & Investor Relations

Tel: +44 (0)20 3128 8100

Katie Hunt/Peter Lambie/ Matthew Taylor

 email: Belluscura@mhpgroup.com

 

#TEK Tekcapital plc – Conversion of outstanding loan amount in MicroSalt

Tekcapital Plc

(“Tekcapital” or the “Group”)

Portfolio Company Update: MicroSalt, Ltd.   (“MicroSalt”)

Tekcapital converts outstanding loan amount in MicroSalt Inc.

Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual property investment group focused on creating valuable products that can improve people’s lives, is pleased to announce that it has converted its outstanding convertible loan note of c.US$1.35m in MicroSalt’s U.S. operating subsidiary, MicroSalt Inc. at a value of US$2.18 per share. This values MicroSalt at US$ 20.0m.

Following this transaction, Tekcapital owns 97% of the share capital of MicroSalt Ltd. and 6,034,683 shares (78%) of MicroSalt Inc., its U.S. subsidiary.

About MicroSalt

MicroSalt, is the developer and manufacturer of a proprietary low-sodium salt called MicroSalt®. We are passionate about improving peoples’ lives with better-for-you seasonings and snacks by taking the lead in the industry by providing the best low-sodium salt solution, based on the mechanical transformation of the salt particle itself. This solution is the only one that delivers real salt flavour because it is salt. Our new patented technology produces salt crystals that are approximately one hundred times smaller than typical table salt, delivering a powerful saltiness as the micro-grains dissolve in the mouth, with approximately 50% less sodium consumption. Additionally, the ultra-small particle size enhances product adhesion, which reduces waste and provides improved flavor consistency. MicroSalt® and SaltMe® are registered trademarks of MicroSalt Inc.

To learn more about MicroSalt please visit   https://www.microsaltinc.com/

To learn more about SaltMe! snacks please visit   https://saltme.com/  

UKIM Podcast – CEO Alan Green discusses 14 shares to watch in 2023


Alan Green joins the Podcast for a run down of his shares to watch in 2023.

We start with a look at Bidstack and the disappointing start to the year before we jump into Alan’s 14 stocks to watch in 2023.

Companies included:

  • Shell (LON:SHEL)
  • AstraZeneca (LON:AZN)
  • Power Metal Resources (LON:POW)
  • Tekcapital (LON:TEK)
  • Cadence Minerals (LON:KDNC)
  • ECR Minerals (LON:ECR)
  • Blencowe Resources (LON:BRES)
  • First Class Metals (LON:FCM)
  • GreenX Metal (LON:GRX)
  • Kavango (LON:KAV)
  • More Acquisitions (LON:TMOR)
  • China Nonferrous Gold (LON:CNG)
  • Harland & Wolff (LON:HARL)
  • Technology Minerals (LON:TM1)

We wish our listeners a prosperous new year.

14 Shares to Watch in 2023 with Alan Green

Quoted Micro 2 January 2022

AQUIS STOCK EXCHANGE

Invinity Energy Systems (IES) says that 2023 revenues will be better than expected because of the order inflow in recent months and delayed contracts. The 2023 forecast was raised from £20.6m to £23.7 in September. The battery storage technology developer will still make a significant loss even with higher revenues.

Oberon Investments Group (OBE) reported a decline in interim revenues from £3.45m to £2.64m. Corporate broking revenues fell by one-third to £1.03m, although the number of clients increased from 15 to 22. Funds under management rose above £1bn, although investment management revenues also declined. The group moved from profit to a £1.7m loss as additional staff were taken on in corporate broking and investment management. There was net cash of £2.3m at the end of September 2022. The launch of an EIS fund and other new products should boost longer-term revenues.

Supported housing operator Walls & Futures REIT (WAFR) interim loss fell from £201,000 to £37,000, although there was a small increase if exceptional charges are excluded. NAV was 0.5% lower at 97.5p a share at the end of September 2022. There was cash of £829,000. The weaker residential market is helping with the search for suitable sites.

Looking Glass Labs Ltd (NFTX), which operates Web3 platforms for immersive metaverse environments and blockchain, has progressed with the development of its Pocket Dimension metaverse offering. Carl Chow has stepped down from the board and Lucas Russell has replaced him.

Tectonic Gold (TTAU) reported an increased loss of £311,000 in the year to June 2022, while there was a £270,000 cash outflow from operating activities. There was £403,000 in the bank at the end of June 2022, with net cash of £232,000.

Cadence Minerals (KDNC) has completed the pre-feasibility study for the Amapa Iron Ore and an announcement is expected in early 2023. Investee company Evergreen Lithium is awaiting final regulatory approval to join the ASX.

AQRU (AQRU) has invested £2.3m in Streaks Gaming, which is planning to join the standard list on 5 January. Streaks Gaming is creating a global conversational gaming platform.

IamFire (FIRE) has subscribed for a further £500,000 of WeShop convertible loan notes. The conversion price is 200p a share.

Gowin New Energy (GWIN) has borrowed £50,000 from its chief executive.

Geremy Thomas is no longer an executive at Goodbody Health Ltd (GBDY), although he remains as chairman. Anne Tew is stepping down as finance boss, although she will cover the role until a replacement is appointed.

AIM

Nexus Infrastructure (NEXS) is selling its utility connections and charging infrastructure businesses to FitzWalter Capital for £77.7m. That is more than the market capitalisation before the announcement. This is the highest it has been since June. TriConnex and eSmart Networks were the parts of the group with the best growth prospects and Nexus Infrastructure is left with civil engineering business Tamdown, where margins are recovering. In 2021-22, revenues were £98.4m and the operating profit was £2.3m. There will be £10m of disposal proceeds retained for working capital and the £65m left after costs will be distributed to shareholders.

Trading in digital media company Catenae Innovation (CTEA) shares has recommenced after it published its 2020-21 accounts and interims to March 2022. There was a £993,000 cash outflow from operations last year and that was reduced to £283,000 in the latest interims. There was cash of £337,000 and no debt at the end of March 2022. A £250,000 interest-free loan facility has been secured from Sanderson Capital and £125,000 has been drawn down. Shares and warrants will be issued to Sanderson Capital at 0.235p each.

NetScientific (NSCI) investee company PDS Biotech (NASDAQ: PDSB) has revealed median overall survival of 21 months in a phase II study for a PDS0101-based triple combination therapy for advanced HPV+ cancer patients. This is a better outcome than for current treatments. The PDS share price rose on the news and even though it has fallen back it has still risen by around one-third this week. NetScientific’s 4.7% stake is worth around £13.8m.

Catalyst Media Group (CMX) trebled its net assets after unwinding a previous write-down. A 20.5% shareholding in horseracing broadcaster Sports Information Services (SIS) is the only significant asset that Catalyst Media has, and it is valued at £35.4m. That is after a write-back of a previous impairment charge of £23.4m. NAV is £35.5m, or 168.9p a share. Catalyst Media has announced a 3.3p a share dividend.

Cannabis-based medicines developer Celadon Pharmaceuticals (CEL) says its pain clinic subsidiary LVL Health has completed the feasibility study of its non-cancer chronic pain clinical trial. The results are described as positive. The results have been submitted to the research ethics committee, which will make a decision on a larger clinical trial involving up to 5,000 patients. A trial has already been conditionally approved by the MHRA.

Barkby Group (BARK) has increased the debt facility provided by Tarncourt Properties, a company controlled by the family of Barkby chairman Charles Dickson, from £5m to £12m and it expires at the end of June 2024. Net debt was £7.7m on 2 July 2022. There is effectively £7m of cash available at the end of 2022. Net liabilities are £7.7m. Non-core assets are up for sale. The focus will be property and pubs.

Tekcapital (TEK) investee company Innovative Eyewear has signed a global licensing agreement for the outdoor brand Eddie Bauer for smart eyewear.

Allergy Therapeutics (AGY) says that its accounts will not be published by the end of 2022, so trading in the shares will be suspended on 3 January. The audit has been delayed, but there is no indication of any material problem. Management is still assessing funding options. Annual results for Kazera Global (KZG) will not be published until February, so trading in the shares will also be suspended on 3 January.

MAIN MARKET

Gresham Technologies (GHT) software Clareti Connect has won a new $1.3m contract over five years with an existing banking client. The software will replace FIX processing infrastructure and there will be additional recurring usage fees.

Standard list shell Stranger Holdings (STHP) had net debt of £761,000 at the end of September 2022. Due diligence continues on the potential acquisition of mineral rights in Africa.

Andrew Hore

Alan Green & Mark Fairbairn discuss stock picks for 2023, incl #PREM, #GCAT, #MARU, #FCM, #TEK, #GRX, #ECR, #POW & #TMOR on this week’s Stockbox Research Talks

Alan Green & Mark Fairbairn discuss stock picks for 2023, incl #PREM, #GCAT, #MARU, #FCM, #TEK, #GRX, #ECR, #POW & #TMOR on this week’s Stockbox Research Talks

Tekcapital #TEK – Investee co Innovative Eyewear, Inc. Announces Multi-Year, Global Licensing Agreement with Authentic Brands Group for Eddie Bauer® Smart Eyewear

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group notes that Innovative Eyewear, Inc. (“Innovative Eyewear”) (NASDAQ: LUCY; LUCYW), the developer and retailer of smart eyewear under the Lucyd® and Nautica® brands, has announced that through an agreement with Authentic Brands Group (Authentic), it has licensed the iconic outdoor brand Eddie Bauer® for smart eyewear. 

“We are pleased to partner with Lucyd to expand Eddie Bauer’s eyewear offering,” said Henry Stupp, President, Lifestyle EMEA-India at Authentic. “Eddie Bauer is known for delivering innovation across all of its product categories. Through Lucyd’s Bluetooth technology, we reinforce the brand’s standards in this emerging category.” 

Eddie Bauer is rooted in its commitment to research and invention, beginning with the creation of the first-ever quilted goose-down insulated jacket in 1942. Throughout the brand’s history, Eddie Bauer has registered dozens of patents on various outdoor clothing construction and sporting equipment. 

“Few names are as renowned as Eddie Bauer in outdoor recreation,” says Harrison Gross, CEO of Innovative Eyewear, Inc. “Our Eddie Bauer smart eyewear collection, powered by Lucyd, will continue Eddie Bauer’s legacy of bold and beautiful craftsmanship, coupled with innovation, and will align perfectly with today’s adventurous lifestyles. We believe outdoor enthusiasts are looking for designer eyewear that both protects their vision and allows them to remain connected to their digital lives in an open-ear, handsfree format.”

The Eddie Bauer smart eyewear collection is expected to launch in 2023.

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer and retailer of cutting-edge smart eyewear, under the Lucyd®, Nautica® & Eddie Bauer® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives, and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co .

About Eddie Bauer

For more than 100 years, outdoor brand Eddie Bauer has been inspiring, enabling, and empowering people to live their adventure with products that are built to last. Their products are available at eddiebauer.com and more than 200 stores in the U.S., Canada, Germany, Japan, and other international markets. To learn more please visitwww.eddiebauer.com .

About Authentic Brands Group

Authentic Brands Group (Authentic) is a global brand development, marketing and entertainment platform, which owns a portfolio of more than 40 iconic and world-renowned Lifestyle, Entertainment and Media brands. Headquartered in New York City, with offices around the world, Authentic connects strong brands with best-in-class partners and a global network of operators, distributors and retailers to build long-term value in the marketplace. Its brands have an expansive retail footprint, including more than 9,100-plus freestanding stores and shop-in-shops in more than 150 countries and generate approximately $23 billion in global annual retail sales. 

Authentic is committed to transforming brands by delivering powerful storytelling, compelling content, innovative business models and immersive experiences. It creates and activates original marketing strategies to drive the success of its brands across all consumer touchpoints, platforms and emerging media. Authentic’s brand portfolio includes Marilyn Monroe®, Elvis Presley®, Muhammad Ali®, Shaquille O’Neal®, David Beckham®, Dr. J®, Greg Norman®, Neil Lane®, Thalia®, Sports Illustrated®, Reebok®, Eddie Bauer®, Spyder®, Volcom®, Airwalk®, Nautica®, Izod®, Brooks Brothers®, Barneys New York®, Judith Leiber®, Ted Baker®, Hervé Léger®, Frye®, Juicy Couture®, Vince Camuto®, Lucky Brand®, Aéropostale®, Forever 21®, Nine West®, Jones New York®, Tretorn®, Prince®, Van Heusen®, Arrow®, Hickey Freeman®, Hart Schaffner Marx® and Thomasville®.

 

For more information, visit authentic.com .

Follow Authentic on LinkedIn , Instagram and Twitter .

 

Tekcapital currently owns 5,189,086 shares (approximately 71%) of Innovative Eyewear, Inc. 

For further information, please contact:

 

Tekcapital Plc  

Via Flagstaff

Clifford M. Gross, Ph.D. 

SP Angel Corporate Finance LLP

(Nominated Adviser and Broker)

+44 (0) 20 3470 0470  

Richard Morrison/Charlie Bouverat (Corporate Finance)/Abigail Wayne / Rob Rees (Corporate Broking)

 

 

Flagstaff Strategic and Investor Communications

 

+44 (0) 20 7129 1474

Tim Thompson/Andrea Seymour/Fergus Mellon

Tekcapital Plc #TEK- Innovative Eyewear, Inc. Provides Year-end Review

 

Tekcapital Plc

Innovative Eyewear, Inc. Provides Year-end Review

 

Tekcapital Plc (AIM: TEK, OTCQB: TEKCF), the UK intellectual property investment group notes that Innovative Eyewear, Inc. (“Innovative Eyewear”) (NASDAQ: LUCY; LUCYW), a developer and retailer of cutting-edge smart eyewear and operator of the Lucyd® and Nautica® brands for smartglasses, announced on 27 December 2022 a summary of its activities in 2022 including innovations in R&D, new business partnerships, and significant team expansion. The Company believes these developments have furthered its goal of building the global standard in smart eyewear.

Set out below is a copy of Innovative Eyewear’s announcement and to view a video of CEO Harrison Gross explaining these developments, please click here . 

Product Launches & Tech Development

In 2022 Innovative Eyewear completed development on the following products:

1.  Digital Try-on Display. A Lucyd-branded digital retail fixture that provides a virtual try-on experience to in-store clients at our partner retail stores. The proprietary software that operates the kiosk was designed and created in house and performs as smoothly as leading VTO (virtual try-on) applications developed by companies that focus solely on this software vertical. The Company is able to remotely update the Displays with new brand content and glasses styles, and the tablet can also be scanned to download the Company’s Vyrb mobile app, making it a comprehensive Lucyd brand experience in all deployed locations. Launched early in 2022.

2.  Cordless Charging Dock. This patent-pending accessory was developed in house, launched in 2022 and is a first in the smartglass space. It allows the customer to charge their Lucyd glasses simply by dropping them on their nightstand. The Dock includes three additional USB ports to enable the user to charge their phone, smartwatch, tablet and smartglasses simultaneously with one device.

3.  2022 Frame Collection. In 2022 we introduced four new models of our flagship product, including our Lucyd Lyte Jupiter model, which is leading the industry in terms of product weight. Weight is a proxy for comfort when it comes to eyewear, and the Jupiter model weighs just 28 grams, which is tied for the lightest smart eyewear on the market. Central to the luxurious look and feel of this new collection was the design and creation of new proprietary hinges that enable a more seamless appearance to the frames, which are being rolled out across all models. The launch of this collection also brought the number of Lucyd frame varieties to 16 total, which makes the Company’s offering the most diverse in the space. 

4.  The Company is pleased to announce it has completed initial production of its second generation product, Lucyd Lyte 2.0, slated to launch in Q1 2023. The Lyte 2.0 carries several new features including high-end styling from the Company’s new design team, a four-speaker array for immersive audio, and the longest playback time of any smart eyewear device, with 12 hours of music playback and talk time per charge. The battery life of the Lyte 2.0 surpasses the vast majority of true wireless audio devices in any form factor.

5.  The Company has completed the development of a live streaming feature to its Vyrb social application for iOS and Android, which brings live audio chatrooms to the beta app. This will enable Lucyd glasses wearers to create and enjoy live audio events right on their smart eyewear, and this utility is also useful for real-time team communications. 

6.  The Company had six US design patents and one US software utility patent granted in 2022, as well as one Chinese patent granted, to protect its eyewear designs and software utilities. The Company has also filed new patents in 2022 in the US, Canada and/or China to protect its recently released Lucyd Dock and several pending products. The Company’s total number of pending and issued patents now stands at 47.

Partnerships

1.  In late 2022, Innovative Eyewear acquired a multi-year, global license to the Nautica brand for smart eyewear and related accessories. Along side the transaction, the owner of the Nautica brand, Authentic Brands Group, is assisting the Company with introductions to Nautica.com, independent Nautica store operators and buyers, and the Sports Illustrated online store. The Company has finished designing a dozen styles for an initial line of Nautica Smart Eyewear and expects to launch the line in H1 2023.

2.  Lucyd products began to be carried on the Dick’s Sporting Goods (DSG) main website in March 2022, as a trial for consideration for an in-store presence. DSG is the largest sporting goods retailer in the US with 800+ stores.

3.  Lucyd products began to be carried on Academy Sports + Outdoor’s mainsite, the second largest sporting goods retailer in the US with 260+ locations.

4.  Lucyd partnered with Everest.com, a new sporting goods marketplace, to offer Lucyd Lyte glasses to their rapidly growing customer base.

5.  In 2022, the Company grew its retail presence to 250+ locations carrying Lucyd Lyte in-store.

6.  The Company conducted a successful research project to identify two additional manufacturing partners to provide supply chain redundancy for its smart eyewear.

 

Team Expansion

1.  The Company hired Joaquin Abondano as VP Ecommerce and Product Sourcing. Joaquin is a very experienced digital marketer and product developer who has launched a significant number of products on digital marketplaces that have generated substantial direct to consumer sales. His expert level knowledge of Amazon systems is expected to improve the company’s direct to consumer brand awareness and advertising ROI.

2.  The Company also hired Jan Cory as VP optical sales. Her background with over a decade of experience building Luxottica’s US business makes her an excellent fit for growing the retail presence of Lucyd products in the optical channel.

3.  Furthermore, the Company hired two leading eyewear designers in 2022. One comes from a leading global sunglass brand, bringing their heritage of classic and timeless sunglass design to the team. The other designer has a background designing eyewear for some of the world’s leading fashion brands, bringing high fashion experience to the team. 

 

The Year Ahead

There have been many significant developments and product improvements in 2022, and we believe the coming year will bring many more key advancements for the Company, with the following products anticipated to go live in 2023:

1.  The launch of the second generation Lucyd Lyte 2.0 product line with improved sound, battery and styling. Lyte 2.0 will be launched initially in 15 sunglass and 6 blue light styles. This launch includes several styles of smart eyewear designed specifically for women and youth, a key differentiator from other smart eyewear collections.

2.  The launch of Nautica Powered by Lucyd smart eyewear and introduction into many Nautica points of sale around the world, kicking off what the Company expects to be a powerful combination of its user-friendly Bluetooth technology with iconic fashion brands.

3.  The introduction of the Lucyd Bluetooth temple into new eyewear verticals such as sport wrap frames and rimless frames, which are minimal or non-existent on the market.

4.  The full commercial release of the Vyrb social audio application and the addition of in-app purchases, content monetization and creator tools to the app.

5.  An updated website with a vastly improved prescription ordering process to make it easier to purchase Rx-upgraded Lucyd products.

6.  A dedicated wholesale website for the Company’s retail partners to be able to conveniently learn about and stock Lucyd products.

 

In sum, these developments and forecasted releases position the Company well to achieve its mission to Upgrade Your Eyewear® in 2023.

About Innovative Eyewear, Inc.

Innovative Eyewear is a developer and retailer of cutting-edge smart eyewear, under the Lucyd® and Nautica® brands. True to our mission to Upgrade Your Eyewear®, our Bluetooth audio glasses allow users to stay safely and ergonomically connected to their digital lives, and are offered in hundreds of frame and lens combinations to meet the needs of the optical market. To learn more and explore our continuously evolving collection of smart eyewear, please visit www.lucyd.co .

 

Tekcapital currently owns 5,189,086 shares (approximately 71%) of Innovative Eyewear, Inc.  

#TEK TEKCAPITAL PLC – NOMAD and Broker appointed for MicroSalt AIM IPO

Portfolio Company Update: MicroSalt, Ltd. (“MicroSalt”)

Appointment of Nominated Adviser and Broker for Proposed AIM IPO

 

Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual property investment group focused on creating valuable products that can improve people’s lives, is pleased to announce that Zeus Capital Limited (“Zeus”) has been appointed by portfolio company MicroSalt as its Nominated Adviser and Broker for its proposed IPO on the AIM Market in 2023.

 

“We are very pleased to appoint Zeus as our Nominated Adviser and Broker, to assist MicroSalt in effectuating an AIM listing and to provide capital market guidance for our global growth strategy,” said Rick Guiney, CEO of MicroSalt®.

 

About MicroSalt®

MicroSalt, is the developer and manufacturer of a proprietary low-sodium salt called MicroSalt®. We are passionate about improving peoples’ lives with better-for-you seasonings and snacks by taking the lead in the industry by providing the best low-sodium salt solution, based on the mechanical transformation of the salt particle itself. This solution is the only one that delivers real salt flavour because it is salt. Our new patented technology produces salt crystals that are approximately one hundred times smaller than typical table salt, delivering a powerful saltiness as the micro-grains dissolve in the mouth, with approximately 50% less sodium consumption. Additionally, the ultra-small particle size enhances product adhesion, which reduces waste and provides improved flavor consistency. MicroSalt® and SaltMe® are registered trademarks of MicroSalt Inc.

 

To learn more about MicroSalt please visit https://www.microsaltinc.com

 

Tekcapital owns approximately 97% of the share capital of MicroSalt Ltd. and approximately 73% of MicroSalt Inc. its U.S. subsidiary.  

 

About Tekcapital plc

Tekcapital creates value by investing in new, university-developed discoveries that can enhance people’s lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.

LEI: 213800GOJTOV19FIFZ85

For Further Information please contact:

 

Tekcapital Plc 

Via Flagstaff

Clifford M. Gross, Ph.D. 

SP Angel Corporate Finance LLP

(Nominated Adviser and Broker)

+44 (0) 20 3470 0470 

Richard Morrison/Charlie Bouverat (Corporate Finance)

Abigail Wayne/Rob Rees (Corporate Broking)

 

 

Flagstaff Strategic and Investor Communications

           

+44 (0) 20 7129 1474

Tim Thompson/Andrea Seymour/Fergus Mellon

 

 

This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving MicroSalt that may constitute forward-looking statements. These statements may be identified by words such as “expect,” “look forward to,” “anticipate” “intend,” “plan,” “believe,” “seek,” “estimate,” “will,” “project” or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of MicroSalt’s and/or Tekcapital’s management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of MicroSalt or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Neither MicroSalt nor Tekcapital intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

#TEK Tekcapital PLC – Change in Accounting Reference Date

Tekcapital plc, (AIM: TEK) the UK intellectual property investment group focused on creating valuable products from investing in university technology that can improve people’s lives, announces that it is changing its accounting reference date from 30 November to 31 December.

As a result of the change of accounting reference date, the Company’s reporting calendar will be as follows:

·    Publication of audited accounts for the 13 month period to 31 December 2022, no later than 31 May 2023

·    Publication of unaudited accounts for the 6 month period to 30 June 2023, no later than 30 September 2023

·    Publication of audited accounts for the 12 month period to 31 December 2023, no later than 30 June 2024

 

For further information, please contact:

 

Tekcapital Plc 

Via Flagstaff IR

Clifford M. Gross, Ph.D. 

SP Angel Corporate Finance LLP

(Nominated Adviser and Broker)

+44 (0) 20 3470 0470 

Richard Morrison / Charlie Bouverat (Corporate Finance)

Rob Rees (Corporate Broking)

Flagstaff Strategic and Investor Communications

           

+44 (0) 20 7129 1474

Tim Thompson / Andrea Seymour / Fergus Mellon

 

 

 

About Tekcapital plc

Tekcapital creates value from investing in new, university-developed discoveries that can enhance people’s lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.

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