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Evocutis

  • BY: Andrew Hore |
  • POSTED: 28/01/2014 |

Evocutis will not make the potential acquisition it talked about at the end of 2013 and instead it intends to sell its intellectual property. 

Evocutis has given all of its employees notice and the redundancies should be completed by the middle of May at a cost of £30,000. Evocutis has effectively become a shell. The intellectual property disposal is still being negotiated and they should be completed within three months. Evocutis will generate royalties from any intellectual property sale.

At 0.3p a share, Evocutis is valued at £524,000. There was £665,000 in the bank at the end of July 2013 but this will have been significantly reduced since then. Management is trying to negotiate an exit from its property lease. Evocutis may have enough cash for another 12 months even without any disposal.

Download the latest AIM Journal from http://wwww.hubinvest.com/AIMPDFJanuary2014_52.pdf

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