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Based on my fag packet calculation - as at end Aug 19 I reckon they've got about 5 months stock of FF+O left if sales carry on at the same rate as the last 5 months. June 16 Initial Stock Approx £41K (£135K Sales Value) Sept 18 2nd Stock Order received £65K (£215K Sales Value) and as at the end of March 19 they had £45K (£148K Sales Value) remaining in stock per this sets of accounts. Sales for April thru Aug 19 are running around the £76K which leaves around £72K sales value remaining as at end August 2019. So it looks like they'll need to replenish inventories Nov/Dec to be on the safe side which will be another £200K to find.
Not sure how they got signed off on a 6 month going concern??? BB probably better informed on that but it's normally 12 months....
'The going concern principle is the assumption that an entity will remain in business for the foreseeable future. ... However, generally accepted auditing standards (GAAS) do instruct an auditor regarding the consideration of an entity's ability to continue as a going concern.' 'The term 'foreseeable future' is not defined within ISA 570, but IAS 1, Presentation of Financial Statements deems the foreseeable future to be a period of 12 months from the entity's reporting date.'
Yes, no significant extra news in this update. Fruitflow +O3 needs one more volume step to become cash generative IMHO. It has increased exposure now so there's reason to expect that. Funding shouldn't be a huge challenge, this report does suggest assurance, although nothing is ever guaranteed. News of events now would be a lot more use than those almost 6 months ago.
We're away at the moment, so I've only had a fairly quick skim of the results.
On the face if it, unless I'm missing something, everything is pretty much as indicated in the Trading Update and subsequent By-Health RNS, which, given they were fairly recent, is to be expected.
I think they've been slighty more specific on the timing of the next fund raise this time out ( in the coming six months as opposed to in the coming months ), which I'd take as a slight positive compared to the trading update.
I might stick the numbers on FF+ into a calculator later this week to see what sort of GM we got in the last FY, and also to try and work out what ( If any ) contribution it actually made to our cash flow.
Placing. They did mention a limited placing in the last update so no surprise Pumpky. Once (hope) Bi-Health get blue cap we will be roiling in money. And don't forget the pipeline is at substantial multiples of our sales now. Well my train tickets are booked. Who else is coming
Looks like they have enough cash for 6 months , a lot could happen in that time ! ......................"Based on its current level of cash it is expected that the Group will need to raise further equity finance in the coming six months,“
Re "It doesn't really but why would they trademark it and have it next to the Fruitflow TM?"
I have no idea to be honest But, unless I'm missing something, it's just a name ? I mean, it might have some significance in being able to market a product, or products, in Taiwan ( or whereever they're pushing Fruitflow ) but, while it appeals to the geek in me to try and work what it means, it does seem to be unlikely to be any more significant than, for example, Healthspan calling their product Circulease.
I used google translate btw, though, to be fair, it didn't seem to be consistent across pages, but, given NaoLuotong brought back stuff related to blood flow and stroke prevention, I reckoned there was a fair chance it was relevant !
“Yiluotong” or Naoloutong? suppose it depends on the translator used.
BB "At that point, I realised that, in the grand scheme of things, it probably doesn't really matter which !" It doesn't really but why would they trademark it and have it next to the Fruitflow TM? ???
Sphinx/BB.. Chambio appears to be an agent for DSM promoting DSM neutraceutical ingredients. 'April 2018: DSM authorizes Chuangbai to become an agent to promote DSM nutraceutical ingredients'. https://www.chambio.com/news.html#DSM
Wheels...China merely adjusted there exchange rates to compensate for tariffs being charged by US.. Flow into US of Chinese goods hasn't stopped and the only difference is US gets tariff income. Meantime China is trying to grow sales of home produced goods internally so not really sure why the end of trade war would really affect DSM/PXS/FF sales in China. BTW the euro/£ exchange rate right now is helping PXS as the AA payments are calculated/paid in euros.
If this September the trade war between the US and China is sorted out and If Provexis results show an increase in revenue; And if half the revenue increase has not been spent on more and more patents around the world. And if the Chinese company By-Health start producing and selling Fruitflow products in China, Then no reason why our share price should not rise to reflect these facts.
Sphinx/GCCRa...I would be extremely surprised if PXS are only getting just over £3 per packet shipped at their income level. From April 18 to March 19 (based on my orders, their Order Number sequence went from 34919 to 66478 = 31559 whereas their Actual Income was reported as being £98,000 so this is £3.105 per Order Number. If each Order Number = one packet shipped, the should be reporting much, much more Income that £98,000. So I think we can conclude the Order Number sequence increases faster than the actual units shipped by between 5:1 and 6:1