It wasn't straightforward - I'm sure Sherlock would have closed his eyes done his photographic memory flashback sequence, and known the answer far faster than I!
A dollar loss for 2022 suggests they are speaking of the LLC (the US subsidiary company). The Ltd is the parent co and that is what TEK directly owns, and didn't record a loss in 2022. I've updated https://theoakbloke.substack.com/p/salt-y-food-tek on the back of today's call.
The fact revealed today that the entire £3.1m of offered shares was taken up is positive. I can’t imagine many will sell on day 1. You’d like to think there’s some news flow following very soon to set out the stall
I did some work on low salt alternatives for processed foods more than ten years ago. It was a hard slog but unless things have changed. It's the focus of every major foodstuff brand from baked beans to curries,bread and soups. They have all reduced salt content over the past few decades but the laws of physics step in at some point and any further reductions lead to taste (and sales) falling off a cliff. It is sensitive to price but even a modest conversion is enormous. Most importantly, there should be a flow of customer wins post float.
Hats off to you OB! I couldn't work out the TEK ownership disparity!
Yes fluffchucker, detective work Sherlock would be proud of!
It wasn't straightforward - I'm sure Sherlock would have closed his eyes done his photographic memory flashback sequence, and known the answer far faster than I!
Look at the documents sent and the emails sent from Max Inglis about the company and how they took money from US investors and RAN.....
Take a look at what happened to the investors at MicroVentures. The company took our money and ran to the LONDON Stock Exchange.
Maybe you're missing some shares in that aspect as well.
Hey, I see in the slide deck from today's call that SALT themselves said there was an operating loss of $2.5m in FY22? Any more colour post call?
A dollar loss for 2022 suggests they are speaking of the LLC (the US subsidiary company). The Ltd is the parent co and that is what TEK directly owns, and didn't record a loss in 2022. I've updated https://theoakbloke.substack.com/p/salt-y-food-tek on the back of today's call.
There is so little information/attention about the IPO in the media.. hope it's gonna be a success
The fact revealed today that the entire £3.1m of offered shares was taken up is positive. I can’t imagine many will sell on day 1. You’d like to think there’s some news flow following very soon to set out the stall
I just heard about a 12 month lock-in, how does that work? If people can't sell there won't be any trades..
The 12 month lock-in relates to TEK's holding, and not the other shareholders.
That is good news indeed. Did they prepare a pitch deck or anything of that kind? Can't find anything on their website or on that of their broker
There’s a investor meet presentation announced so I expect that will be used on their website post presentation
I did some work on low salt alternatives for processed foods more than ten years ago. It was a hard slog but unless things have changed. It's the focus of every major foodstuff brand from baked beans to curries,bread and soups. They have all reduced salt content over the past few decades but the laws of physics step in at some point and any further reductions lead to taste (and sales) falling off a cliff. It is sensitive to price but even a modest conversion is enormous. Most importantly, there should be a flow of customer wins post float.
Would you buy the IPO?
Hi Damofarl, I've updated my article - kind of sat on the fence as I'm torn but offered my perspective on this.