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Potentially blockbuster ? Markets are imperfect but really - you see something that neither the city nor any pharmaco sees ? Why don’t you mortgage the house and buy the company ?
It just seems odd to me that there are less hoops to jump through for a listed company than there are for a private one when it comes to director replacement...especially where potentially blockbuster ip is concerned.
The sub is a wholly owned of the parent no issues, there has to be a board meeting to appoint a director it will be pure admin
Soup, If that sudsidiary company holds the IP, should it not have been the priority?
If they do hold the IP Mars, then why is an ex-employee who has disappeared with immediate effect under circumstances that we are not aware of (and could, for all we know, be strained) be allowed to stay at the helm of the subsidiary that holds the most valuable assets that this company has?
FX, it could be a number of reasons. Overall they could still be within the appropriate timeframe for notification.
The Nuformix Plc notification had to be done before the 23rd as that was when the company confirmation statement was due (it has to be issued annually before the date that the company registered)
There has to be a director for a subsidiary, I believe the sub holds the patents
"FX, on the companies house side, it’s the company secretary who submits the TM01 form notifying of a resignation. They have a period of time to do this after the actual date of leaving."
If the company secretary filed a TM01 in quick time for the plc then you would have expected them to do the same for Nuformix technologies, would you not?
If there was any kind of bad feeling surrounding AR's departure then surely you would expect them to remove him as a director of a subsidiary ASAP. He is the only director there!
So my question is why has nobody replaced him at Nuformix Technologies. What is so important about Nuformix Technologies that it couldn't just be closed down after the plc came into effect? The fact that they haven't rushed to replace him suggests that he still serves a purpose at Technologies and that his departure is not as 'out of the blue as it first appears.
Why?
Lynparza value keeps on an upward trajectory
https://stockhouse.com/news/press-releases/2022/06/21/results-from-phase-3-propel-trial-of-lynparza-xae-olaparib-plus-abiraterone-in
FX, on the companies house side, it’s the company secretary who submits the TM01 form notifying of a resignation. They have a period of time to do this after the actual date of leaving.
For me the main question is, given we know that AR was appointed to his new role on the 25th, why was his resignation not part of the update or at least on the same day?
DJ, if you see it as attacking then I think you need to toughen up a bit.
The answers to your questions are obvious so not really worth asking.
NXP001 - how much?
How do you expect me to know confidential contract info? Of course I have no clue.
NXP002 and 004 why do people leave if it’s so good?
You’ll have to ask them not me, I have no contact with them.
So a couple of q’s for you.
If NXP002 is a failure because of these tests on the inhaled version, does that invalidate the cocrystal as an oral treatment?
NXP004 is now being prepped for pre clinical formulation. Highly unusual for something that has no promise, don’t you agree?
I’m not in a position where I’m in denial of the situation with is dire, but I also spend time looking at the whole picture, not just wallowing in what is happening at the present moment.
That may be the right thing to do or it may be the wrong thing to do. But that’s my choice as I have an investment here.
Do you get other people's points though, Soup? You say you do, but then find any angle you can to attack that individual and label them as 'disingenuous', whilst ignoring any relevant points they make.
"Rightly or wrongly, I try to take a dispassionate view of where things are at." - I disagree as you've shown many times that you're in love with NFX and on many occasions you've chosen to attack those who dare question the company.
I've given you credit before and will do so again for your fact-finding endeavours. But anyone can do that with enough time and inclination. I'm still waiting for you to answer pertinent questions I raised years ago, but you did your usual disappear into the background whilst screaming blasphemy!
"NXP001 is going in for clinical trials soon with milestone to be paid to NFX - source of income" - how much £?
"NXP002 is going back into CRO with new formulation" - what's the long-term outlook in £? Why have so many professionals seemingly abandoned the project if it's as good as you claim?
"NXP004 is moving into drug development stage" - same as above?
"£900k cash in bank at end of March" - How long will this last? What's our cash burn rate? What does this cover? Can we afford a CEO and/or any other staff?
"Income from Lanstead since March circa £125,000 (my calcs)" - what did that buy us?
"As I’ve said before, we know
NXP001 is going in for clinical trials soon with milestone to be paid to NFX - source of income
NXP002 is going back into CRO with new formulation
NXP004 is moving into drug development stage
£900k cash in bank at end of March
Income from Lanstead since March circa £125,000 (my calcs)"
Yes, we should be looking to the future but none of it is going to benefit us if we don't have a committed board that is interested in taking things forward via the plc route.
In fairness Soup, I included Chorlton in that list (not Jones). He was director of Nuformix Technologies until November 2020. That makes 9 by my count:
Tapolczay, Chorlton, Lidgey, Gooding, Blackwell, Keegan, Holland, Brindley & Riddell. There is also Kirk Siderman-Wolters to consider, who left without much explanation in September 2019, if we're going to split hairs.
I don't take pleasure in clashing horns with fellow investors who are in the same boat. I am not trying to exaggerate. To the best of my knowledge all 9 were directors who resigned in the given time frame. To be honest, the circumstances of their departures have been vague or didn't really add up, so I discount none of them.
That said, what do you make of the fact that Riddell hasn't resigned from Nuformix Technologies, yet was quickly removed from the plc. His sudden departure didn't give the impression that it was amicable, otherwise he would have stayed to handover, right?. So, why is he still a director at Technologies?
FX. I get your point but I do think it’s a stretch in some respects to count certain people in the turn around of directors.
Rightly or wrongly, I try to take a dispassionate view of where things are at.
Yes, everyone could decide to leave (with just Alex left to fend for himself) and I’m not blind to that. But for my own sanity there is something here.
As I’ve said before, we know
NXP001 is going in for clinical trials soon with milestone to be paid to NFX - source of income
NXP002 is going back into CRO with new formulation
NXP004 is moving into drug development stage
£900k cash in bank at end of March
Income from Lanstead since March circa £125,000 (my calcs)
It's a shame that you think that I'm being insincere.
Anyway, on another point. It's interesting to see that Riddell has resigned from Nuformix Plc but not from Nuformix Technologies.
https://find-and-update.company-information.service.gov.uk/company/06407331/officers
I wonder if he's forgot
You ok Terry?
Only ten days ago you were praising the company?
“Clearly, AR was the saviour to the business and knew his time had come to move on to a new challenge, as the COO of a new business. He left investors with the gift of stability, no words, but a humble actions speak louder than words. ”
Nothing disingenuous about the SP. It stinks.
It’s 95% down since I first bought in (and sold at a big loss) and over 76% since I bought back in December 2021. Not a big investment second time round but I mistakenly thought we had turned a corner.
I know I won’t recoup my losses. Someone may make some money out of NFX but I don’t think it will be it’s shareholders.
You’re seriously including Roger Jones the part time company secretary in that list? Really?
Same with DT who the company didn’t manage to lose, he managed to get himself booted out.
Also including Lidgey who was a former Levrett man?
Come on FX if you want to be disingenuous you can do better than that.
What other companies do you know of that have lost 9 or more directors since the start of 2020?
Can say the same for any company
OK. Can they do that if no one is running it?
‘Going concern’ is the ability of a company to meet its financial obligations which NFX can do.
We have 2 part time NED's left. We've lost a raft of execs.
Chances are that if Brindley, Riddell, Blackwell, Gooding and others wanted out, these might too. If they go and no one is left to run it then do you think it's still a going concern?
Why would it go into administration?