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Hi I had twenty thousand invested and I am trying to get a grip on reality
It's there in black and white @Tim64. So many red flags can't believe I missed them all.
What has just happened here seems so extraordinary that if it comes to legal proceedings, the apparent failure of the Board to defend the interests of their shareholders by taking some very basic measures to prevent such an outcome may well trump the get-out clauses in the risk statement in the recent final results, and the conditions listed in the Charge documents. Why did the Board not organise a share placing months before this? There should be a proper inquiry into the circumstances of the suspension. I see that DDDD has already been deleted from the FTSE AIM All-Share Index. They didn't waste any time, did they?
01 April ‘22 Final results RNS:
“The Directors are continuing to explore sources of finance that are available to the Group and have a reasonable expectation that they will be able to secure sufficient cash inflows into the Group to continue its activities for not less than twelve months from the date of approval of these accounts. However, because the additional finance is not committed at the date of approval of these financial statements, these circumstances represent a material uncertainty as to the Group's ability to continue as a going concern”.
Roache, I am in touch with CRL who was trying to organise some sort of shareholder action group and i believe a collective effort is more likely to suceed as it will enlist the brainpower of many. However i do hope Sunny suceeeds as his action on this is commendable . Ultimately a bundle of evidence will have to be produced for court and that will take time and cost money - so he and all who want to claim have a long way to go.
Once DP gets the solicitors letter I expect he will pass it to his insurance company who will recognise the totality of investor losses could be tens of millions and they will obviously fight it tooth and nail. The good news for investors is that a collective loss of that magnitude could make the case attractive to 'no win no fee ' lawyers who specialise in this type of action, whereas a small collective loss is not worth their time in my experience.This scenario makes a collective effort more compelling imv.
Ironically, once DP gets the initial communication about impending litigation he may put more effort into preparing a defence than pushing the administrators to get a good deal !
Good luck all.
I agree Roache1. I invested in 4D on basis of science point to the next big leap in therapeutics. Definitely after the OF deal there has been continued unscrupulous dealings to work the price down for someone’s benefit. Don’t know if DP was complicit or powerless (certainly seems clueless) but any good RNS’ was followed by massive selling to undermine any potential SP rise - which to me suggests some background manipulation.
I know it’s slim chance now but hopeful there may be some return from administrators letting this continue as a going concern. I lost too much to leave without trying all options.
Finally, I was wondering if shareholders all write to their local MPs? I think there was post earlier 4D has close to 100 employees - all likely to lose jobs if a solution not found very soon. Plus this was a leading edge biotech firm and surely there must be R&D funding or some credit via the government to support such businesses where there is evidence of novel scientific life saving solutions. I mean people were claiming bounce back / covid19 interruption loans for more than the £ 12m needed by 4D to get OF off its back!!
Taking legal action against DP (and CFO?) may also keep the administrators on their toes, and aware their actions can be held accountable in court.
Roache read sunnyca's earlier post. In essence he is taking unilateral action against DP. It could be more effective for each agrieved Shareholder to follow his example.
One Director being taken to task by umpteen individual Shareholders may well get a better result than a posse of shareholders taking concerted action against the Company who will just kill time and totally frustrate Claimants.
Read sunnyca's posts you will find them very helpful.
I am one of the bigger losers, along with numerous others I am sure. Everyone that has lost something is at a loss. Everyone invested knowing the risk, but when you are seeing impressive presentations about good results and blockbuster drugs like Keytruda linked to it, it’s hard not to think this was the next big thing. There was also the link to Parkinson’s. All very impressive collaborations. Did anyone contact Interpath about DDDD? CRL you mentioned this over the weekend. Sorry if you posted an update, I didn’t see one. Is there something we can do for all shareholders or is this each man/women for themselves?
@Sunnyca, Will be following your progress avidly. I dont have a solicitor and would really not know where to start but £5k down and it really hurts so it might be time to learn if you are happy to provide some pointers.
Not back in the country fur a couple of weeks but highly likely to raise a case myself when I am, unless things change dramatically in the meantime (which I do not expect). Multiple emails to IR ignored in recent weeks. Shareholder neglect wouldn’t be hard to prove.
sunny... thanks for the further update. A corporate action could be complicated and time consuming as that is how corporates will wear claimants out. Action against the individual should focus the mind of DP. Understand your action is individual, hopefully succesful, which could become case law and therefore help others here who are agrieved.
For the benefit of anyone wanting to try to recover anything or just to set a precedent regarding what AIM companies "think" they can get away with, the new Fraud Act is quite a revelation that most are unaware of, my intended prosecution is of the individual responsible within the company, however, any recovery of monies will relate to me only as it's an individual prosecution and is irrelevant. The cost to me so far is the time with my financial advisor £80, plus £120.00 in solicitors fees to issue a letter of intent to prosecute. Dribble money or a weekend of camping not Glamping and worth every penny, point being that if you're sat on say 5K of losses is £120.00 well spent to be part of say 200-700 Notice of intention to prosecute under the new Fraud Act land on Duncans doorstep? For me it's been worth every penny and feels great. I'm off out to celebrate the new Fraud Act 2020. :-)
Remember Longevity was supposed to be finding a Chinese company to target
Indeed RP, Chardan and Oliveira had quite a colourful rep for launching dodgy Chinese companies as SPACs
Anyone that wanted to go short that knew about the Oxford terms was through on goal with only the keeper to beat.
Chardan is connected with Oliveira, I guess it was chosen for nasdaq listing because Oliveira has old connections with Chardan.
The other aspect here is the extended period of shorting activity on this stock. Why? Conspiracy theory or some indirect links in the whole fiasco.
Anyone remember the sky high broker targets that came flooding in last year? This time last year Chardan Capital gave 4D (well LBPS) a buy rating and a target of £4.10 ($40 LBPS). Well guess what, today they've been downgraded to neutral... what a joke and waste of time these brokers are!
Chardan Capital analyst Keay Nakae downgrades 4d pharma (NASDAQ:LBPS) from Buy to Neutral.
Hi Taverham, the whole of year 2021 and the period of 2022 leading up to the last RNS of any and all communications by DP to external and internal parties (including presentations and T.V. appearances i.e. SKY) will be the subject of investegation by the CPS. I have messaged the CFO via LINKEDIN to please inform Duncan of my intentions which will proceed from today. I'll keep the BB informed as it progresses but as of now I feel much better after spending a couple of hundred quid for the satisfaction of giving Dunkers some sleepless nights regarding possible jail time. These companies and individuals need taking to task and the latest sections of the Fraud Law enable it to be done.
Sunny clearly is keen to take action which is great. My view is that the action should include all matters where dishonesty or failure to disclose can be proven so that there are multiple opportunities to win.
1) Company confirming over email in middle of 4th quarter that they are on track to deliver on all catalysts (there were 4 as 5th on Keytruda combo they moved to Q1 22) and delivered only 1 (Asthma) out of 4.
2) 4D June 21 presentation saying MRX0518 combo study updates throughout 21 and didn't get anything except small biomarker at Esmo in September.
3) One other thing is 4D Pharma's rns on 9th Dec on Blautix when they informed FDA has informed 4D delay due to covid and they await feedback from FDA for Blautix strategy, this rns was not published on SEC unlike all other rns which usually get published on SEC as well, not sure if that was type of rns or they didn't require to or deliberately didn't publish on SEC as might be blabbering about awaiting feedback from FDA
sunny... you have covered it comprehensively, thanks. The SFO could be involved???
The thing is Bluebelly the info on the dire cash position seems to be clear in the annual report.
My main concern was always whether or not the $7.5m from Oxford that could not be spent had to be deducted from the year end cash balance. The way it was worded seems slightly unclear but reading it again the other day it seems clearer that it did need to be deducted and is so stated.
Over and out for now as the garden beckons.