Strix Group PLC on Thursday said it has made an offer to acquire assets from HaloSource Corp for USD1.3 million in cash.

Strix,a designer and manufacturer of kettle safety components, has offered to acquire some US and Chinese assets from water technology firm HaloSource, which will “assist in accelerating its strategy to expand and grow its water filtration division” it said.


Did you see the write up from Zeus?



HI Gamesinvestor1
Did you invest in Halosource ?
Its another Woodford share ?


Ripley, Nah m8 - to be honest I’d never heard of them.

You can rest assured, if it had been on Woodford’s list I wouldn’t be holding it.
Sounds like it was on the verge of going bust, not uncommon for a Woodford company these days.

Strix could make sensible use of the IP if they are successful at buying it for peanuts.



Seems like a decent deal for us, but then again you have to wonder why there has seemingly been no other interest
All I know of Halo is that they have a filtration system to remove lead from tap water, still a big issue in the USA apparently.
Halo shareholders are not going to receive a penny of the proceeds of the sale… Will they agree to it?
I was advised many years ago never to invest in US companies listed on AIM. I was told they only list on AIM because they would not pass scrutiny in the US. If you have a look at the record of US companies on AIM it has proven to be sound advice.

“Strix (or its wholly owned subsidiary) will acquire HaloSource Water Purification Technology (Shanghai) Co. Ltd., the Company’s wholly owned subsidiary in China, along with substantially all of the assets of the Company’s US subsidiary, HaloSource, Inc. Under the terms of the Offer, the Company will receive, on Completion, a cash payment of approximately U.S.$1.3 million, including an advance of funds to the Company for working capital purposes of approximately U.S.$0.1 million by way of an unsecured promissory note.
The book value of the assets expected to be sold at 30 June 2018 was approximately U.S.$2.8 million. For the six months to 30 June 2018 those assets incurred a loss of approximately U.S.$3.7 million and for the year to 31 December 2017 a loss of approximately U.S.$5.3 million.”


NQM - You are probably right about the US start up scene, but I suspect Strix have seen some value here and the price they are paying for the technology and IP is peanuts - hopefully Strix have a much bigger established market for this.