Frontier IP, the university spin-out investment group with an Alternative Investment Market listing, saw losses widen from £269,000 to £380,000 in its second full year and cash drop from £582,000 to £44,000.
Frontier IP, the university spin-out investment group with an Alternative Investment Market listing, saw losses widen from £269,000 to £380,000 in its second full year and cash drop from £582,000 to £44,000.
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simon bain
The group is currently undertaking a fundraising that is "fundamental to the future of the business". The shares, listed at 25p in January last year, were unchanged at 13.5p, valuing Frontier at £940,000.
Revenue from services rose by £4000 to £162,000, while total revenue slipped by £84,000 to £223,000 due to a smaller increase in the value of its holdings, slippage in the receipt of equity from new spin-outs, and a delay in the completion of two licence agreements. Administrative expenses were up 5% due to higher personnel costs.
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