Tekcapital have released another instalment of portfolio company news with the market taking the updates positively and Tekcapital shares jumping 5% on Monday.
Having broken out of a tight trading range last week, Tekcapital shares have appeared to build a new level of support around 20p after an update from MicroSalt and Innovative Eyewear.
Old resistance has held as new support for TEK shares on Monday following news MicroSalt has secured yet another distribution agreement. MicroSalt has inked a deal with US Salt, a major distributor of salt products in the Northeast of the United States.
“We are proud to work with US Salt in their efforts to offer low-sodium solutions to their customer base. US Salt as a leader in salt distribution, offering lower sodium as an active option in its ingredient listing. Excess sodium intake is one of the world’s leading health concerns, and we believe that partnerships like this are a great way to expand our efforts to address the sodium reduction challenge.” Said Rick Guiney, CEO of MicroSalt.
MicroSalt have recently appointed Zeus Capital as their NOMAD for an AIM-listing which is expected in the coming months.
Innovative Eyewear
Tekcapital’s NASDAQ-listed smart eyewear company Innovative Eyewear produced spectacular share price gains last week and Monday saw the release of an update on the software powering the ‘smart’ element of their eyewear.
Innovative Eyewear said their Vyrd app will now support an “On Air” feature that will allow users to communicate in chat rooms of up to 100 people through their Lucyd smart eyewear. This presents various opportunities for collaborative work through Lucyd eyewear, particularly in the fitness industry.
“We are supporting our hardware platform with audio-focused software to enable seamless communication, content generation and social interaction on our frames as well as other wearables,” said Innovative Eyewear CEO Harrison Gross.
“The introduction of the On Air feature to our Vyrb app is a milestone where we have enhanced the popular and useful real-time chat functionality found in other social apps, by adapting it to an ecosystem purpose-built for wearable communications.”
Innovative Eyewear shares were trading at $2.27 on the NASDAQ shortly after the open on Monday and are now up 84% year-to-date.
