SATS

Satsuma Technology PLC

Consumer Products and Services First-pass screen £24m

340/1000 Overall fit

AI beneficiary 35% 45

Operating leverage 25% 30

Valuation 25% 30

Downside protection 15% 20

First-pass take

Pre-revenue AI infrastructure play pivoting to decentralised agents on Bittensor. Reported £1k revenue, £708k losses, negative equity (-£113k), and only £31k cash at Feb 2025 despite June £5m raise. Unproven execution with acute going-concern risk.

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