Business
Unaudited Results to 31 December 2024
Unaudited Results to 31 December 2024.
About this update from Tekcapital Plc
[{"type":"text","content":"\n\n \n \n31 March 2025\nGenIP Plc\n(\"GenIP\" or the \"Company\")\nUnaudited Results for the period 23 February 2024 to 31 December 2024\n \nGenIP Plc (AIM: GNIP), a technology business providing Generative Artificial Intelligence (GenAI) solutions to help research organisations and corporations commercialise their innovations, as previously notified in Schedule One published on 18 September 2024 and in accordance with AIM Rule 18, announces its unaudited results from incorporation on 23 February to 31 December 2024.\n \nIntroduction\n \nGenIP is a start-up company established in February 2024 and has achieved significant milestones in its first year. In June 2024, the Company acquired certain assets and liabilities related to the Invention Evaluator and Vortechs businesses in exchange for a capital contribution from Tekcapital plc and Tekcapital LLC. In October 2024, the Company was admitted to trade on the AIM market of the London Stock Exchange, following a successful fundraising by way of a placing and subscription for shares that raised £1.75m in gross proceeds. These funds are driving the Company's growth strategy to expand its commercial opportunities with existing and potential customers and to compete effectively in the Technology Transfer markets.\nGenIP integrates expert human insight with GenAI technology and algorithms to provide two core services that can re-shape innovation:\n1. Invention Evaluator: Utilising proprietary AI-driven software, this service delivers tailored research reports that evaluate the commercial potential of groundbreaking innovations and discoveries.\n2. Vortechs: An executive recruitment platform employing advanced machine learning and natural language processing technologies to connect technology companies and organisations with highly skilled executives specialising in technology commercialisation.\n \nFinancial Highlights\n \n● The results presented for the period from incorporation on 23 February 2024 to 31 December 2024 are unaudited. The Company's auditors are in the process of finalising the audit, and as such, the figures are subject to potential adjustments in the final audited financial statements.\n● Turnover (since June 2024 acquisit...