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Great stuff glad to hear it .
We didn't pay him or the previous DSM NED.
Why would we want the position filled ? another fat cat salary for doing nothing ! really , we are not a charity but it feels like it with IF taking over £100 k a year + share options , for what ?
PXS is in Zombie mode , we have the IP does anyone want it ? if so give us a offer please. IF BH are going to get stuck in with a big launch they will not want PXS holders benefitting way into the future imo.
I agree with you Gix, DSM are very far from walking away from Fruitflow. Clearly there have become many more facets to the usefulness of the ingredient, creating their new role of developing premix and MRS. The issue with DSM is that Fruitflow is a tiny part of a huge catalogue, with nobody in particular tasked with driving it forwards. To even get a mention in a sales conference was an achievement. Fully focussed sales planning will be a benefit if we can work with brands direct, but it's a massive task without doubt. By Health is clearly the most attractive route toa mass market IMHO
BB, I didn't say that DSM would put someone forward I said I "wondered if we were going to get another DSM Non-executive Director" due to the fact they still hold 6.48% of the company or more accurately DSMV do and we know DSMV like to have someone at board level. Then there is the Premix and Market-Ready Solutions agreement along with the new partnership that has been agreed relating to the gut microbiome.
IMO, over 1 million Euros is a lot of stock to hold if they were expecting to walk away from the existing AA.
Anyway, as I said. It appears as though its not going to happen.
Gixer - why would DSM put forward someone else as a NED ?
They've, all but, walked away from Fruitflow having failed to agree a meaningful partnership with Provexis which takes them beyond the existing AA. They probably have something in the order of 1.5 million Euros worth of stock left and have an agreement in place with us, at least in principle, to get that off their books as well. 1.5 million is small fry to them.
Put simply, the business entity that is DSM doesn't think it's a good use of their capital to continue investing in Fruitflow, so it would make no sense to have one of their people take over as a NED.
Obviously DSM Venturing still have an interest, so maybe they'll put someone forward ? But I suspect they'd be happy to arrange a transfer of their shares to any interested party as and when it's convenient and there's interest from someone.
BB
Pretty sure someone will have to come aboard to help IF with the extra workload but I had wondered if we were going to get another DSM Non-executive Director. It appears not. BWTFDIK :)
That's as bald a statement as could be.
I'd hope to see a proper Sales Director sometime in the future, but obviously we're not privy to the new financial model from 2023.
No mention of filling the position then.
DP
what is clear is that FF+ income tracked income from DSM PSA. So it looks like FF+ sales have been restricted by general FF availability to DSM (not sure what happened in 2021). With the planned supply increases .............
https://postimg.cc/68MN1XjR
W?
gixer,
Great find. All these needs to translate in to products and increase of FF sale.
Bioactive food components and their inhibitory actions in multiple platelet pathways
Includes Fruitflow.
https://onlinelibrary.wiley.com/doi/10.1111/jfbc.14476?fbclid=IwAR29Ml_lGuMJMlp0dQXPuMFqUh9LCmjAA_RCTevOopY2V80o_ZqRaai8LFw
That's what I am hoping for. But is a good day out and IF is always friendly
Kievs
No, we are away that week, but I feel next years' is the one we'll all meet up at
Hopefully IF will drop some good news b4 the AGM.
W$
Wish you a good time at the AGM, as one of the most loyal investors you deserve it.
Work still doesn't allow me attendance. I think what we're all pondering is the transition from having DSM do all the supply chain work to taking that over fully. Who will be doing the jobs, what are the practical requirements and costs involved? Obviously nothing can be disclosed that hasn't already been notified, but hopefully you'll see some pointers.
Are you going to the AGM
W$,
Thanks for the summary. Hope we will be in profit in very near future.
Nothing we don't already know. I've added FF+ revenue
https://postimg.cc/ctdzMK1T
Takeaways
launching FF+ has been a good move, extra cash it brings is very useful income
if research were stopped we would have been in profit.
If no covid issues DSM PSA should have been nearer 500K and hence losses less than 50K.
With new deal the "DSM PSA" should multiply and we should be in good profit (once issue with supply chain costs/stock settles).
( two million users at 2p profit to us per dose puts us worth 5 to 10p a share and IF stock options become very valuable)
W$
W$,
Thanks for the plot. So everything is downward trend. What does it mean?
alf
yes, and a good pension
Wherever he ends up he'll be a useful contact for us.
W£
Certainly a possibility. He is well connected, the kind of person that would be required to go it alone without DSM.
Not considered that one Welly, bet he's on a stiff old salary, but he no doubt has a wealth of contacts
Just catching up
- do peeps think Mr Frédéric Boned may be joining PXS ?
W?
Seem to have the products which are a good fit for ff in the US , https://www.businesswire.com/news/home/20220915005311/en/Momentous-Announces-6.5M-Series-A?mkt_tok=MzM5LVNYVy03NjEAAAGHR8tFoJ4Mnse-bY7jjLfg1Wr3Hy89g-xoZxWQiq4rpvaMP9g2K_ev8YLUIeeL1XWZumlmSfHefjdqnDpx_m0wup2YyfbCawk3Ur93GnTKulanx7ZJ