Allied Minds Share Discussion Threads

[kooba] 20/6/2022 08:57

Must think Mr Thompson's mention has sparked a bit of interest.

[kooba] 19/6/2022 21:54

I don't subscribe but seem to have got access!

[kooba] 19/6/2022 21:52

An unloved deep value playA Boston-based intellectual property (IP) commercialisation company is undertaking a strategic review that could lead to a sale of the company and release value to shareholdersAn unloved deep value playJune 17, 2022By Simon Thompson

[kooba] 19/6/2022 21:51

Strategic review could lead to an outright sale of the investment companyLatest funding round of portfolio company Federated Wireless implies Allied Minds' stake is worth 40 per cent more than its own market capitalisationInvestee company Orbital Sidekick in discussions with strategic partners to provide funding to add its product to an additional six satellite launchesAllied Minds (ALM:17.5p), a Boston-based intellectual property (IP) commercialisation company focused on investing in early-stage companies with disruptive technologies, is undertaking a strategic review that could lead to an outright sale of the company, or alternatively distribution of its assets and cash reserves to its long-suffering shareholders.The complexities of IFRS accounting standards means that the best way to value Allied Minds is on a sum-of-the-parts basis given that the last reported net asset value of $44.65mn (15.1p a share) in the recently published 2021 annual accounts materially understates the value held in its portfolio companies.For example, Allied Minds' largest investee company, Federated Wireless, raised an additional $14mn (£11.4mn) in a Series D funding round last month (to add to the $58mn already raised) at a post-money valuation of $302mn. It implies that Allied Minds' 23.96 per cent fully diluted stake is now worth $72.3mn (24.5p a share), or 40 per cent more than Allied Minds own market capitalisation of £42mn (17.5p).Heavyweight investors Fortress Investment Group, Singapore's sovereign wealth fund, GIC, and Cerberus Capital Management all participated in the funding round. It's easy to understand why. That's because Federal Wireless' operates at the cutting-edge of shared spectrum Citizens Broadband Radio System (CBRS) that is reshaping wireless connectivity for cloud-based technologies.By providing customers with a secure private wireless network that is both high performance and accessible on a low-cost subscription, Federal Wireless' revenue almost quadrupled last year, buoyed by collaboration agreements with hyperscale channel partners AWS, Cisco and Intel. The company now has more than 350 corporate customers and 90,000 connected devices, serving the defence, government, education, utilities and telecoms markets across North America.It's not the only one of Allied Minds' portfolio companies that has raised new capital as OcuTerra Therapeutics closed a $35m Series B funding at a post-money valuation of $51.3m, placing a valuation of $6.3mn (2.1p a share) on Allied Minds' 12.33 per cent fully diluted shareholding. A Phase II clinical trial of OcuTerra's non-invasive eyedrops for use in early-stage diabetic retinopathy, a disease that results to loss of vision for diabetic patients, will commence in the next quarter.

[bobonumber1] 19/6/2022 20:51

Can you post the content. It's behind a paywall

[kooba] 19/6/2022 18:36

For those might have missed ..https://www.investorschronicle.co.uk/ideas/2022/06/17/an-unloved-deep-value-play/

[bobonumber1] 17/6/2022 20:23

Bodger. I read in results that BC raise would be on a down round. That's not very promising. Orbital are promising but are currently negotiating a raise which we will not be able to participate in, meaning our stake will be diluted to low double or single figures. I would back ALM to raise finance via a placing to hold or increase our stake. I hope Federateds cash runway is sufficient so they can get to the stage of a flotation.

[wbodger] 17/6/2022 18:42

Well, at least it reduces confusion about who might be running the meeting. (Not Harry.) Presumably the COO. I wonder what Failing thinks about his mate - my guess: this was planned but not communicated at all. That is pretty poor.

We should at least be in the hands of CA, Invesco and GIC in the sense of people having a plan or knowing where they're going. Biggest 4 shareholders:
- CA 18.6%
- Invesco 16.9%
- GIC (=ARCM, Singapore Sovereign Wealth Fund) 8.09%
- Mark Pritchard 5.53%. Total of biggest four: 49.1%

Nine of biggest ten are all funds or suchlike. Top ten including Pritchard control 72%.

I'm not entirely convinced about the figures for eg Federal Wireless, which could easily be marked down if there is less profit in FW's market than is assumed. I remember Spin Memory's nasty surprise left us spinning, and after Harry goes I hope the new incumbent does not do some unwelcome revisions. (The valuations look like darts thrown at a dartboard. Is that unfair?)

Bridge Comm looks promising, as does OcuTerra. (The trick will be to grow value faster than they consume seed funds.) I hope FW may be net cash positive after the latest round.

Overall Harry Rein spends a lot of time on the risks. I have no doubt he has not given up on being asked to stay on.

I will try to look more closely over the weekend. It's quite heavy going, isn't it?

[bg23] 17/6/2022 08:06

Duncan, filtered

[kooba] 17/6/2022 07:56

Well there was me being told we get suspended if we go to one director..seems Harry stepped down after the results publication on Wednesday ( not even on the contacts) so that indicates we remained listed yesterday.Total shower..where are the company brokers in ensuring suitable governance in place?

[casholaa] 15/6/2022 09:36

Not holding my breath.

[kooba] 15/6/2022 07:54

3 months into a sale process and i can't see any comment on progress /interest. Rest is same old slide in shareholder value and no actual easy way of calculating nav per share..if anyone can let me know.Numis normally produce something bullish on every fall in asset value..but since they are engaged in the sale process might not even get that.Sorry state of affairs and the directors should be totally embarrassed in the state this is in.We are just over a year since the Capital Markets Day when all was great 14 months later disaster and the company allowed lack of information to prevail especially on federated for a long period of time. From my knowledge of Federated 2020 revs 3.8 times would mean that revs were less than $11m last year against forecast $17m...on target at half year..on target with AM interims in October as far as i can tell.The company second half must have been dire and they must have know very early in the second half.Highly misleading and if in the states with motivated shareholders they would be facing law suits on misleading investors.

[casholaa] 14/6/2022 14:43

At least it's not Tuesday tomorrow -we've been there already.

[davesailing] 14/6/2022 12:06

Results day tomorrow. Maybe an announcement of a successor? Takeover, on or off, delisting from AIM or BAU......How will the share price fair...

[casholaa] 02/6/2022 21:38

IMHO bigger than FW related stuff. I do think that alm blundered with funding it though. Purely speculative but success would be global for many years.

[kooba] 02/6/2022 06:20

There's more..all interesting stuff.So trials start end of this month by the looks of it.https://www.pharmavoice.com/news/woman-of-the-week-ocuterra-therapeutics-kerrie-brady/624637/

[kooba] 02/6/2022 06:10

One for you Casholaa !Brady notes that phase II trials of OTT166 are absolutely key to the company's future direction. With funding secured, OcuTerra has developed its phase II protocol and is scheduled to being dosing patients in Q2 2022. Brady hopes to have the topline phase II readouts by early 2024, adding "We've got a host of activity occurring now to build the company out further. We have some other ideas for other indications and additional integrin products, but for now, our priority is getting this trial underway."https://www.pharmasalmanac.com/articles/transformative-early-and-patient-centric-treatments-for-retinal-diseases

[casholaa] 31/5/2022 20:27

I suspect that the tech/pharma investments don't entice either a solely tech or solely pharma company. I think they'd be looking for some sort of competitor or vct to cough-up for a takeover.

[kooba] 31/5/2022 18:08

I guess they will have to update on the sale process with the results on the 15th June , that will have been over 3 months trying to solicit any interest in anything at all on behalf of shareholders.. i hope we are only paying Numis on a success basis otherwise likely more shareholder funds down the Swanny.If Harry wasn't already going as he couldn't muster any shareholder support , he would deserve to get canned all over again for this complete balls up. He has proved totally misleading and totally incompetent in the role..but he's still hanging on to get the accounts out very late...financial reports to share holders are a key function for a board and for the Chair to ensure it is all done efficiently..especially when you've gone into a formal sale process. Useless.