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At last someone who actually understands what they are talking about, good post Cuvio, Wigwammer is clueless and as I suggested to him he should go seek professional advice rather than posting things as fact on this board when he is 100% wrong
First, thank you for conceding that the fully diluted number of shares here is around 610m - an outcome which should have been made clear by IR in the investor presentation. Second, the status of the deferred shares is they will be redeemed as/when anything good happens, diluting the upside to ord holders by up to 87%. Have a lovely weekend.
Yes but do you know the status of the deferred shares??
And respectfully, you need to do some research.. “ Total Voting Rights… Fo llowing Admission, the Company's issued share capital will comprise 325,803,104 Ordinary Shares with one voting right each and 284,984,933 deferred shares with no rights to vote. ”
Wigwammer respectfully you have no idea what you are talking about, I think you need to seek some professional advice before making incorrect statements on the number of shares in issue here
Pokerchips - to repeat, the diluted number of shares in issue here is 610 million, with the deferred shares representing a further 87% dilution to the ords if/when exercised. It should be a minimal expectation of an investor relations function to make information of that materiality abundantly clear to all investors. Instead, they did a one hour presentation and, as far as I remember, it was never mentioned. In fact, management stated that the market value here was under £20m - well, yes it is, if you conveniently ignore the prodigious deferred share dilution. I’ll leave it up to individuals to work out whether the omission of such material info represents good IR practice or not. ATB
@ Jenforluck
Avion may throw millions at this but it wont be targeted to ease IR for IMM. The reality is Avion have IMM by 'the short and curlys' The P3 results imo will be very good, however, a possibility of recommendations before moving to stage 4. On the face of it, this would be welcomed news to shareholders providing Avion move quickly.
I just don't see them being that charitable knowing that time is running out for IMM. I have always maintained that Avion have been dragging their feet and that view has not changed. They want all the revenue and all the royalties for themselves. They will get this from the administrators who will only be too happy to take their share of the pie.
I dont think it is IR job to spoon feed retail investors with regards understanding the share structure of the company or even the meaning of the Financial structure of its largest shareholder ...... RI should seek professional advise rather than rely on IR to provide some sort of guide for Dummies ......
When the largest shareholder is the Finance Company helping to keep the lights on , then you have to know you are in a higher end risk investment ....doesn't mean it is a scam ... but it does mean who have to know what exactly you are entering into
just have to understand the financing situation.... and fully
I call this a total scam. It will take years for this share to recover.
Pokerchips - the fully diluted nosh puts the market cap way higher than company has been suggesting. It is their usual unprofessional approach to investor relations, which has done them no favours over the years. Where the additional 285m shares comes from is a puzzle the company is not too interested in clarifying - for obvious reasons - though they used to publish a total share capital, that has now stopped. “ Fo llowing Admission, the Company's issued share capital will comprise 325,803,104 Ordinary Shares with one voting right each and 284,984,933 deferred shares with no rights to vote.”… still looks decent value even with 610m shares in issue, and as you suggest they would receive cash from some of the issuance, but a large reason for the “decent value” is that no one trusts the story presented. How NOT to do investor relations.
Lambo222,
As usual , you ramp like hell when it suits you …
My contrarian question is why did Avion allow this monstrous dilution to shareholders ( with the warrants to L1 and Lind ) ?
If IMM had any consideration for their shareholders, there is no way that they would have done this last placing under 11p ( which opened the door for the warrants at 5p )
This is what I call ´highlight robbery ‘ and will affect the SP for many years to come ( whatever the Newsflow ) imo
L1 and Lind now have 56,408,558 Options with an exercise price of 5p exercisable up to 10 June 2023, which would bring in £2.8m if indeed fully exercised, but would bring a 17% dilution
All hinges on outcome 29th Avion willing to spend a lot of money on successful outcome im confident if they are. Only time will tell
Agreed, though IMM is really only funded for the next 12 months assuming the FDA allows Phase 3 to proceed. Otherwise it's basically all over. I know Tim'n'Tim's recent presentation stressed all the other potential revenue streams. But these were much further into the future (assuming any succeeded). If the FDA's final guidance unexpectedly threw a spanner in the works, IMM would have an IMMense funding problem. So let's hope the BOD's confidence is finally justified this time, as we've been led down the garden path before. And the resulting share price wasn't pretty.
Anyway good to see we are now funded for the next 12 months, directors took 10% of the placing which is a positive and are willing to defer wages, now come on FDA let’s get this show in the road…
It was 2018… and around £250m Mcap, Lupozor has long been touted as a blockbuster billion pound drug, Avion obviously think the same as their CEO commented that he envisioned Lupozor becoming the lead drug in their portfolio… the potential is huge, it just needs to deliver, if the bod and the drug delivers then we will see £250m Mcap again no problem which is a near 20 bagger from these levels! I hve around £25k invested and will just leave it to hold for gold as in a few years time there is the chance that £25k could be worth £500k if all goes to plan it’s a risk I’m willing to take as the potential rewards on offer are life changing
How did this ever reach about £1.80 on no revenue about 2016 just asking
Dallo ,
I agree with a lot of what you are saying but one has to be reasonable when it comes to IMM especially after this last fund raising with all the warrants etc etc . Dilution is the main problem here for quite some time and it’s the main reason why IMM has a market cap of 16-20 million for the last 2 years , imo
Then you have to factor in the Tim element :-)
Nolupus
Yes but if the FDA approves the Phase 3 we are in a different investment situation and the speculative pot will boil right up to the results.
The starting gun will be set a base for the SP and it should be a lot higher than 5.5p imho.
Investors can choose to get out in a month/ 6 months et al or top slice as we get nearer the results.
Our options will be a lot better if the Phase 3 is approved...conversely we will have no options if it is turned down imho
Sounds like a SCP employee talk to me :-)
Whatever
True but from £16m Mcap if it did actually manage to get $150m in royalties per year from the US market alone with only Lupus, the scope for life change potential is there, if this company could generate $150m a year profit some time in the future you are looking at a £billion company which from current levels would be a 100 bagger…. Pie in the sky figures I know but if all went to plan that’s where IMM could get to and there are not many companies on aim if any who have this potential
Lambo222,
The go ahead from the FDA is just the starting gun .. the P3 trial will take time and the result is not guaranteed.
A reasonable punt Ok but ….
Some big volume coming in last hour or so, mainly all buys, the broker option closes today so we should get an rns tomorrow, be interesting to see if it was filled, would personally rather it wasn’t fully subscribed so there’s no overhang, directors took £100k of it which is positive so only £1.2m up for grabs, little over 2 weeks to go before we find out if this company is going to make us life changing returns or big losses, what’s certain is if Tim is right when he said in the presentation that we can get $100-$150m in royalties each year from Lupozor in US sales alone, then my god a lot of millionaires are going to be made buying at this level, the FDA decision unlocks so much here after been in the doldrums for so many years, maybe just maybe it’s about to rise from the ashes
My buy been labelled as as sell ? Any reason?
Some on here have huge holdings and dwarf mine. In throwing out old copies of Shares Mag recently, I came across December 2017 edition which says "Drug developer ImmuPharma is expecting phase III results in first quarter of 2018 for lupus treatment Lupuzor. Analysts speculate the drug could hit multi billion dollar annual sales if the tests are successful and the drug gets approved by the regulators.
So this is a good time to buy but the risk reward remains high especially the reward side.