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Because they wanted to grow their US investor base. It’s not really worked as they planned though
In the last press release, the management deferred their compensation to preserve capital and took options, to show their commitment to the company. I'm a bit cynical about taking options with an exercise price of 1p... I would sell my shares to have such a deep-in-the-money option to buy at 1p over the next 5 years! Skepticism aside on that front, I do not understand why the company has a listing in the USA. There is absolutely no benefit that I can see from paying tens of thousands of dollars to have a listing.
Plant Health Care Brasil
Encouraging to see actual results as drought is one of the major variables with climate change. The subject line is my own interpretation as the translation maybe a tad off.
"In this area, located in the city of Tupaciguara, MG, the H2COPLA was applied via micron. The video was taken on 12/21/2023, 15 days after planting. And the area was under a severe drought in the first few days after planting! Resisted! The area treated with H2COPLA presents better seedling development when compared to the STANDARD FARM AREA (Producer). The difference in these first days is striking. Check!"
Adding some context to below post, roughly 75% of PHC's revenue was derived from Harpin sales in H1 2023
Harpin revenue $2,810 - Saori revenue $1,050
Four of the five new approvals are from the PreTec platform with Poland approving Harpin. Its hard to forecast sales into 2024 but would have thought they stand a fair chance of scaling up and hitting numbers, especially at the beginning of 2024 growing season.
Two more approvals in Mexico waiting approval to add:
Submitted for approval
PHC25279
PHC68949
Not easy keeping tabs with different brand names, registration submissions and application approvals.
---------------------
On another note, market has traded around 5% in volume since RG's last TR1, looking a bit better for clearing the overhang.
List of new products approved and ready for sale in 2024, appreciate OBRONA launched in 2023 but more or less missed growing season hence inclusion now.
MOSHY (PHC25279) Brazil to control foliar diseases in coffee and sugar cane
TEIKKO (PHC68949) Brazil to Control Nematodes in Soybeans
OBRONA (PHC25279) USA fungal and bacterial plant pathogens within fruits, nuts, vegetables, and row crops.
Innocul8 (PreTec) UK promoting greater yields and higher quality of potatoes, berries, peas, beans and grapes.
HARPIN Poland, included as approved late Aug 2023
That's quite a step up from last years offering, still India with Novazymes/Harpin to come in along with OBRONA in California.
Let me know if I have missed anything.
Plant Health Care Brasil LinkedIn page
In this post we publish a small "spoiler" of the results of today's visit (01/04) to our first field, located in Bandeirantes, MS, in a soybean of the Olimpo variety, planted on 11/03/2023, in an area infested by Root Lesion Nematode (Pratylenchus brachyurus) and Coiled Nematode (Helicotylenchus dihysteraa).
This is the joint presentation from Jan 22 with Wilbur Ellis
From 20.00 minutes in talk is more Pretec focused although the whole video is good to look back on now registrations are coming through.
https://www.investormeetcompany.com/meetings/wilbur-ellis-and-plant-health-care-discuss-us-market-opportunities
Wilbur Ellis would probably market TEIKKO once US approval is granted, seem to remember during joint IMC presentation they were keen on nematicide technology as part of an overall solution, TEIKKO has good compatibility with most other products combined with long shelf life (no concerns about over stocking).
Fair credit as they have done a pretty good job at sowing the seeds (excise the pun) ahead of formal approval, coverage in the trade magazines has been good too.
Sounded confident on approving a distributor soon for this years growing season, that would be welcome given US overstocking issues.
Great news.
Approval of Teikko is a tonic for the company bringing an important and valuable PRETec product under the control of the company to commence sales; just in time for the Soy growing season.
Now to get after those 45 million hectares; but then I can’t think of a better field team to go at that than PHC (Brazil).
[From LinkedIn]
Despite all challenges that impacted Agribusiness in 2023, we are please to reach the end of the year having made significant achievements.
Harpin Protein business globally continued to provide consistent results for growers and we continue to add new partnerships. As part of our corporate strategy, Harpin αβ plays an important role, as it enables plants to fully develop their productive potential and delivering higher yields.
Following the initial regulatory approval in France in October 2022, Plant Health Care has pursued Mutual Recognition to expand the use of Harpin αβ across Europe and Poland is the first EU country to grant this status for Harpin αβ. Europe is the world's largest market for sustainable agriculture with annual sales of over $2 billion.
Following the successful launch of SAORI® in Brazil, technologies from our PREtec platforms continued to be launched across different regions and new registrations were granted: Obrona™ (USA), Moshy™ (Brazil), among others. These technologies protect crops against important diseases and improve yield.
Regarding our nematicide technology, TEIKKO™, we are already on the field preparing the commercial launch in Brazil for 2024/2025 soybean crop season. United States and Mexico registrations were already submitted.
All PHC Teams worked hard and together to increase the efficiency of our operation, always respecting diversity, the environment, and the transparency of our business.
The next generation of crop protection biological technologies that Companies are planning to launch in the future, PHC is already commercializing globally.
Our Peptides are differentiated and protect plants from inside out, with no harm to food, humans, and the environment. Peptides by PHC.
The year is ending, and it was a great journey.
I would like to thank everyone who walked with us during this year and helped us turn challenges into learning and achievements.
We will continue together helping farmers to sustainably grow more.
"And that reason is very simple to understand. Even though the Brazilian market has a 70% share of biological products in the management of nematodes, some precautions in their application in the field still need attention, such as storage and transport temperature, shelf life, compatibility with other products and influence of environmental conditions after their application.
PHC68949 (TEIKKO) is a peptide with a unique mode of action, based on PREtec – Plant Response Elicitor Technology and brings benefits in nematode management, such as ease of storage, three years of shelf life, compatibility with other products, including fungicides, ease of use in seed treatment and consistent efficiency in different environmental conditions."
https://www.linkedin.com/posts/plant-health-care-brasil_phc68949-the-only-bionematicide-that-protects-activity-7146490086690402304-9ZcE?utm_source=share&utm_medium=member_desktop
Volumes are seriously low across the board, not a great time to unload when many will be away from their desks.
Seriously, it’s the same pattern every day. The SP drifts up (because it’s massively oversold) only for a bunch of managed sells to hammer it down. It’s like ‘whack a mole’ with one mole and a pylon driver.
I assume Biotalys doesn’t have a huge shareholder selling the wheels off its shares. We’re not going anywhere until the overhang is gone.
I would prefer a forum debate if possible to get all sides of the discussion, that said an IMC type presentation along the lines of Wilbur Ellis earlier this year might a good idea.
On a basic level, a Polypeptide is just a collection of peptides so not that different, if the end product is the same with the same efficacy then surely market valuations should be similar.
Biotalys currently sits at over 10 times Plant Health Cares valuation with no revenue, and no revenue expected until 2026 at the earliest.
Has to be scope for some sort of a collaboration with Biotalys I would have thought.
IP
Suggest you pitch up to the AGM. CR has been there the last two times and happy to discuss the tech.
Is there anyone knowledgeable on these topics to explain the commercial differences Plant Health Cares offering and Biotalys.
It would be great to have a discussion around this as it might add real value for shareholders, understand the long chain (Polypeptides) v peptides but beyond that little bit lost.
The more I look at Biotalys the more I see similarities for instance their Evoca product has many of the features of Saori including the fermentation process to extract peptides, or as Biotalys refer to them 'Polypeptides.
Biotalys’ AGROBODY Foundry™ could arguably be similar to Plant Health Cares PreTec platform, lots of superlatives being used but from a lay persons point of view many characteristics are the same.
There is however one big difference, and that's the valuation:
'Biotalys Nv is listed on the Euronext Brussels trading with ticker code BTLS.BR. It has a market capitalisation of €152.45m'
..meanwhile Biotalys continues its run, up 40% in two days, more than doubling this month.
I would agree, also year end (see earlier post)
From this mornings RNS James is stepping down also which may mean an end to Griffiths involvement.
As of 15th Dec remaining 18,931,000
Nice gesture by management on pay too, helps stretch out the runway past delayed registrations.
Still selling...........I wouldn't be surprised if he sells his entire holding, which means we will experience subdued SP for some time to come
Interesting Bloomberg article about India depleting it's ground water; clearly they will need treatments that help with drought stress in the future:
https://www.bloomberg.com/features/2023-feeding-india-water-crisis/
London South East (this web site) also has delayed price information
Biotalys Nv is listed on the Euronext Brussels trading with ticker code BTLS.BR. It has a market capitalisation of €121.96m, with approximately 32.09m shares in issue.
https://www.lse.co.uk/SharePrice.html?shareprice=BTLS.BR&share=Biotalys-Nv
Both Eden and Biotalys having a good day, Biotalys up 17% on US developments
Biotalys Announces Results of Independent Field Trials in the U.S.
https://tinyurl.com/348c4575
If funds have a small rump left will likely sell before year end, start afresh for New Year.
Done the same but buying to round up ISA account, few more should take me to 1%