AMP Amphion Innovations Plc

 

TIDMAMP 
 
RNS Number : 3367T 
Amphion Innovations PLC 
04 June 2009 
 

Amphion Innovations plc AGM Statement 
 
 
London, UK, 4 June 2009 - Amphion Innovations plc (LSE: AMP) ("Amphion" or the 
"Company"), the developer of companies in the medical and technology sectors, 
announces that the following statement will be made today by Richard C.E. 
Morgan, Chief Executive Officer, at the AGM at 10.00 am. 
 
 
At the time of the preliminary results in March 2009, Amphion announced the 
continued progress made throughout 2008, reporting an increase in Net Asset 
Value per Share ('NAV') in sterling of 36% to GBP0.30 being $0.44. The Company 
also announced the progress of DataTern, Inc., its intellectual property 
management and licensing arm, with revenues of over $5 million as well as new 
products launched from Partner Companies, Kromek, Myconostica, and 
PrivateMarkets. 
 
 
Since the announcement of our results in March 2009, Amphion and its Partner 
Companies have continued to make progress. Our total Net Assets at the end of 
March remained almost exactly where they were at the end of 2008. Certain of our 
individual holdings of equity may be revalued in a new round of financing and in 
the current climate those changes may be to be downward compared with most 
recent valuations. However, in this eventuality the overall impact on our Net 
Asset Value per Share is likely to be moderated by our holdings of convertible 
debt and by other assets that we do not believe would be impacted in this way. 
It should also be noted that Amphion's holding of intellectual property assets 
which are now valued at cost are producing sizable levels of gross income which 
we believe will continue in the future and could lead to an increase in value. 
 
 
DataTern, Inc. continues to make good progress in its licensing programme and 
concluded three additional non-exclusive licenses of its key patents with three 
leading international corporations since the beginning of 2009. DataTern has now 
signed seven licenses since it commenced licensing this product in June 2008, 
generating total revenues of approximately $7 million. 
 
 
Partner Companies 
 
 
During the last few months Amphion Partner Companies have continued to make 
progress in extremely difficult economic and financial conditions. The almost 
total paralysis of the fourth quarter and early part of the first quarter seems 
to have been followed by an improvement in consumer and market sentiment and a 
good example of this change in mood can be seen in the PrivateMarkets trading 
activity. Following a period of minimal trading from the Spring of last year 
through to the early part of January of this year, trading activity on the 
PrivateMarkets platform has grown month on month and is currently progressing 
well above our 2009 plan. 
 
On 3 June 2009, Kromek launched their second product, the 3-1-1 Scanner, at 
the Transec World Expo in Amsterdam. The 3-1-1 Scanner will scan 3-1-1 plastic 
bags as well as small packages. Kromek continues to make progress with their 
first product, the Kromek Bottle Scanner, which has shipped to Newcastle Airport 
and will begin trails this month. Harnessing its new generation digital colour 
x-ray detectors, Kromek's Bottle Scanner can identify and categorise liquids in 
bottles in less than 20 seconds. The system can be used for a wide range of 
security applications such as the detection of liquid explosives, screening for 
alcohol, and also for dissolved narcotics in other liquids. This can all be done 
without the need to open the bottle or sample the liquid. 
In April 2009, Dr. Roddy Carter was appointed President and Chief Executive 
Officer of WellGen. Dr. Carter brings a range of experience in medicine research 
and pharmaceutical development and commercialisation from leading companies 
including Merck and Pfizer. In May 2009, WellGen, Inc., a life science company 
using nutrigenomics to develop clinically-validated Medical Foods, launched its 
first consumer products, a line of nutritional supplements under the brand name 
Te Amé. The Te Amé(TM) line will initially be available in four different 
formulations, reflecting WellGen's research into a range of health and wellness 
benefits in the areas of exercise recovery, immunity, joint health, and stress 
management. Te Amé contains WellGen's proprietary natural compound, a unique 
black tea extract enriched with theaflavins. These natural compounds have 
demonstrated health benefits and are presented in significantly greater 
concentrations than available from brewed tea. 
 
 
In February 2009, Axcess International, Inc., (OTCBB: AXSI), the leader in 
Micro-Wireless systems for automated identification, tracking and sensing, 
announced that it won a competitive procurement worth $3.54 million to provide 
security infrastructure solutions for the port at Trinidad's capital, 
Port-of-Spain. With the security successfully implemented, in April Trinidad 
hosted the Fifth Summit of the Americas Conference attended by over 30 heads of 
state of countries from North, Central and South America, and the Caribbean. 
 
 
Richard C.E. Morgan, Chief Executive Officer of Amphion, said: 
 
 
"We were very pleased to see DataTern's licensing activity get back on track in 
March and we believe that we should be on plan for the first half of the year. 
Our 2009 operating plan is predicated on a sufficient level of licensing income 
to cover most, if not all, of our administrative and operating cash costs, 
including the interest on our convertible promissory note should we reach the 
financial goal of $10 million target level. Importantly, this will enable us to 
use the proceeds from additional capital raisings by Amphion to support our 
Partner Companies and to maintain our ownership level when outside capital is 
being raised by the company. Despite the very difficult environment, our Partner 
Companies continue to make progress and our focus remains on ensuring they are 
adequately capitalised in order to fulfil their exciting potential." 
 
 
For further information please contact 
Amphion Innovations plc 
 Charlie Morgan, Director of Communications 
 +1 
(212) 210 6224 
Cardew Group 
 Tim Robertson/ Jamie Milton/ Matthew Law 
 +44 20 7930 0777 
Charles Stanley (Nominated Adviser) 
 Mark Taylor/ Freddy Crossley 
 +44 20 
7149 6000 
About Amphion Innovations plc 
 
 Amphion (LSE: AMP) builds shareholder value in high growth companies in the 
medical and technology sectors, by using a focused, hands-on company building 
approach, based on decades of experience in both the US and UK. Amphion has a 
significant shareholding in ten Partner Companies developing proven technologies 
targeting substantial commercial marketplaces, each in excess of $1 billion. 
Each Partner Company is chosen with the goal of achieving an exit valuation in 
excess of $100 million. 
On the web: www.amphionplc.com 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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