Difficult to be sure about the lack of support. We have approval for bugoil in the USA but no distributor (ALS pulled out very strangely 2 days before notification). The EU approval is not due until 2013 according to the last update. The company has been at pains to point out that bugoil is not to be a major focus at this stage. It is emphasising the route to profitability lies in the increasing sales of our other products (mainly Inca). Year end is approaching fast and I would hope that a trading update can tell us if we are on track. We have a new management team (both the CFO and CEO have departed, in addition to a new Chairman). They need time to sort it out. Hopefully there is enough cash to do so.
Have been a holder for over 4 years. Will continue to hold. I have been encouraged by the recent turns of events, although still wary as there has been much promised here that has not come to fruition. This, it must be said, is not the fault of the current BOD. I am optimistic that the new regime will turn this around.
Good research - although the Hardman research is from last May. I assume you are still interested in PIM despite some of your cautious sentiment on this BB? The research shows there are several potential game changers in there (Alathea for example) and points to break even in 2013.
20th Feb 2012, 10:17 am by Giles Gwinnett Shares in Plant Impact (LON:PIM) went up after it revealed changes in its agreement with Arysta over BugOil, an insect control product, which the company says will improve its cash outlook.
The geographic scope of Arysta LifeScience Corporation's exclusive licence of the product has been narrowed and the repayment date of a £750,000 development loan from Arysta which had been due on February 22 this year has now been extended to May 31 in 2013.
The firm said it believed the amendments "markedly" improved its financial position and cash flow outlook.
"The extension of the Arysta loan provides the company with additional time to achieve regulatory milestones as well as the ability - in the event regulatory milestones are not achieved - to repay the Arysta loan from internal cash generated from the growth in revenues of the company's nutritional product range," it said.
The original agreement in 2009 gave Arysta an exclusive worldwide licence to manufacture and sell BugOil, which is based on plant extracts.
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