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Agree
Fosun appear to be reducing their involvement. Didn't provide the additional required funding so will have their minority interest potentially diluted by the CLN's. Gave the option of providing $1m in the additional tranche funding but only on the condition Glyco allow them use of the study data - given Glyco haven't take them up on this offer and instead have pursued other financing would suggest the deal wasn't particularly favourable.
Just reading between the lines, could be wrong
dare to expand on this comment? Thanks
Not sure the market will like this one too much....
Looked at this share when it was tipped by IC back in January? I think at the time the price was around 80p. Back in the days I would have followed the advice and buy at whatever the price might be. I kind of hoped the price would dropped and gave myself the 65/66p zone as a good consolidation zone and it showed that sometimes pays off. First bought at 66p, and a few days later, added at 71p due to the 200EMA level being around 69p and thought that if it broke it would fly.... Not disappointed about this one.
I am more patient these days and it pays more than before... guess this is one of the only few advantages of growing older.
Tavistock Investments (TAVI)
which one is the other on in the article? Thanks
So how is the CL from Foshan for Glyco [that we knew nothing about] affected NAV?
In case you forget..
No but I am saying the fair value will be re-determined by the price people are willing to pay during the fundraise.
If NSCI purchased 5% of Q-Bot for 500k (totally made up figures), the carrying value in the financial statements would have been the purchase cost of 500k. If Q-Bot fundraise during the year and raise 2m for 5%, the carrying value of NSCI's holding is restated to 2m. Which makes sense, in theory NSCI should be able to find a buyer willing to pay 2m for 5% as someone has paid that amount elsewhere.
Trad NAV for investment co = sum of the mv of holdings.[ as determined by the wider market - share price]
We don't have mv's -save PDS - as we have no idea of their financials.
Hence NAV referring to cost of investment is useless if none make any money
NSCI tend to be very capital light so dont believe much of the increase in NAV will be down to increased investments, believe the majority will be revaluation events from portfolio company fundraises
NAV is fine for large investment cos but here?
We have no financials for any investments so just accounting for how much money you have put in is meaningless.
We need reports and analysis on each holding to see if this is a bargain or full of soundbite duds - there is a total lack of info with is poor for a listed company.
Surprised you feel so down on that Jimzi.
Understand the frustration with the lack of news, this update is in advance of the May financials so would just be broad strokes but they still could have added more meat to the bones, particularly Glycotest which is bizarre. But to be honest, I've learnt to accept that NSCI give limited detail and is prob a major contributing factor as to why we are discounted so significantly to NAV. I'm happy with the RNS because it sounds the underlying figures will be decent, increasing NAV in such a crap year like 2022 is a strong performance and EMV Capital is seemingly no longer loss making (although don't believe from the wording its covering all NSCI overheads, just EMV's own).
Agree to disagree that NAV isn't important for an investment company
All in all, feel more positive about NSCI than I did when I went to bed last night so happy with the update
NAV up when PDS has tanked?
Covering costs? Proaxis loan?. No value guidence at all.
Glycotest a 1.4m CL from Fosun - terms? Have they paid their last investment tranche? Why no RNS? Why no progress news? 3 year delay and counting. Now we are in bio and funding weakness zone - how will this proceed - assuming trials are eventually ok?
"We have seen a 'heads down' period - certainly have.
We have 23 investments, virtually no news on any - save PDS that has tanked - and a boast about a 300k trading profit.
NAV is meaningless - start managing and creating value and this year, everyone has been asleep.
V poor update
As RNS's go, that's a good one. Very happy
Results in May but a share on 42.5% discount has grown its NAV "significantly" and speaks to commercial progress on a number of holdings as well as cash generation through its advisory arm "largely covering" costs. PDS moving to Phase 3 trials.
So the cash flow risk is down, the risk of NAV contraction has reversed, lots to like.
Almost certainly going to be a ST article later today as this is a Bargain Share 2023. Hold on to your hats!
GLA
First news in over 2 years!
Six new patents protecting Glycotest’s HCC Panel test have been issued or allowed in the United States, Europe, China, Taiwan, Japan, and Mexico.
MARCH 1, 2023-NEWS-NO COMMENTS-POSTED BY GLYCOTEST
A couple of mid tier bio takeovers in the USA yesterday.
Just under 300% premiums.
I follow a number of the US bio investors on twitter and almost all have PDSB in their top 3 of expected deal makers.
Still think we will wake up to PDSB being sold at $25/30 and NSCI having £25/30M in cash which will double the SP and then some.
None of that takes into account he rest of the portfolio which seems to be doing great guns. You can add another £10M or zero for Glycotest. Makes no difference.
Yet the SP still gets hammered. I'll give it to the end of the year and if no further forward, then time to move on.
Also some news on vortex bio
https://emvcapital.com/vortex-london-cancer-hub-opening/
Interview out
https://globalventuring.com/university/guest/talking-tech-transfer-ilian-iliev/
This share can be so frustrating....one step forward and about five back. Still waiting on updates on other areas of the business, especially the Glycotest.
One day Rodney.......
@SageTechMedical 9hr
We are incredibly grateful to have been invited by the British Embassy to join them on their stand at the 23rd National Congress of Hospitals and Health Management in Las Palmas on March 8th-10th!
Come and chat to Luke Rawlinson at stand 46!