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Limitless Earth

  • BY: Andrew Hore |
  • POSTED: 07/11/2016 |

Limitless Earth hopes to make a gain on one of its investments if it is successful in obtaining a listing on a regulated exchange. 

Investee company, Chronix Biomedical is going through the process required to apply for a stock market quotation. There was an initial $500,000 investment in convertible preference stock at $0.40 a share. At the time of investment this gave Limitless Earth a 0.7% stake in Chronix, which was valued at $69m.

Chronix has recently raised $5m. 

Chronix is a molecular diagnostics company that is developing blood tests for cancer detection and organ transplantation.

Limitless Earth has invested £200,000 in nanotechnology company Exogenesis Corporation, which has developed a technology to improve the safety and efficiency of implantable medical devices.

Limitless Earth still has £1.24m in the bank and £1.3m in investments. In the six months to July 2016 there was an £80,000 cash outflow before investments. At 3.38p a share, Limitless Earth is valued at £2.21m. 

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