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Afternoon all, hang in their sporty and jack. I have plenty invested here and not too worried. With Pharma it takes as long as it takes. It was never going to be months, was always likely to be a few years although I hoped we may get lucky with the covid angle. Its a case of put your feet up, and wait it out. Nothing blinding in the market to get too excited about anyway tbh. I doubt there are millions to be made elsewhere at the moment. Hope we will start heading soon as this seems the bottom. Great average 1.10 btw. Plenty of news flow to come towards end of year. Good weekend to all.
Now almost Q3 2021. Accustem an utter shambles and all faith lost here.
Hi OA
It was a post with irony - GC was George Clooney - but as our GC is friends with Yoko Ono - you just never know
for Accustem I was expecting around 30p to 50p - all the nonsense around £1 - £2 never was reality and I never factored it in - was just hoping with around 250,000 Accustem - that it may balance my overall loss on Tils - I have fought hard in the last 6 months to get my average down to £1.10 - but now with us being listed on LSE proper the stamp duty is not worth a punt of £50k to £100k at a time - have had to look elsewhere for now and let this play out !
Still believe - but GC is an Arthur Daly without a doubt - moves all his companies from the British Virgin Islands only to restart the strategy to locate the overall business/companies to Bermuda.....
At least its not Cyprus then I would be very concerned!
Hey ho - its his business and his call - who are we after all !
Nice Weekend and GLA
Sporty
No my maths are fine as you have based yours on 250m, but it was rns’d 206m currently.
OA - your maths there is bad, that would be 20 not 25 - oh, and and it's cents not pence :-)
Anyway - it actually says...
Amount to be registered 250,000,000 ADR shares
Proposed maximum aggregate price per unit $0.05
Proposed maximum aggregate offering price $12,500,000 (which is the figures above multiplied)
and lastly
Amount of registration fee $1363.75 - is that the same as the listing fee Bluebelly?
I do have a nagging feeling this may be heading in a southerly direction for us... but I sincerely hope it isn't.
I believe that's the price to issue the ADR's for shares at 2sharesper ADR
Each ADR costs the company (Acustem) $0.05 to issue
$0.05 x 250m = $12.5m, whichwould be the cost if Acustem issued all 250m to raise funds.
I believe 102m ADR's will be issued initially to cover the 204m shares/warrants outstanding from TILS shares in Issue.
So our listing fee would be $0.05 x 102m = $5.1m to the Nasdaq exchange. 148m ADR available to raise funds in the future
All guess work!
BB
Denny11,
Hi, sorry for late response but just been sunning in the garden.
250,000,000 divided by $12.500,000 as per TP link earlier.
I fink??????
vbw
Great find, thanks.
Where do you get 25p OldApache? I can see $0.05 per ADR, which is 2 shares - so not very much at all for us if I'm right.
I thought I understood ADRs but I've now reviewed again and find I really don't understand them :-)
An ADR is a vehicle to allow US investors to invest in a foreign company. That much is fact.
So Accustem is therefore a foreign company (which is true - it's registered here, in the UK), and I guess it's 200m+ shares will be issued, but not traded, in the UK, which is why they need ADR's. I'd not come across that usage before.
Given that each ADR equates to two Accustem shares I'm not sure why they are registering 250m ADRs, maybe they're leaving headroom for expansion when they issue more shares (when they do the next fund raise, as I e3xpedc they are burning their way through the cash portion of the £3m and will need more to develop and market the product!!).
Already done, thanks Rockz.
Nothing still showing with Interactive Investor!!
Plus - for those with HL or similar, note that the W-8BEN form may need to be reapplied for as only lasts a set period. I have just renewed mine.
https://www.hl.co.uk/help/dealing/overseas-share-dealing/overseas-share-dealing/how-do-i-complete-a-w-8ben
Hi Greend, you’re in a good position then with HL as your broker as they trade US shares. You will automatically get the Accustem shares which should be showing in your portfolio already with no value attributed. You just need to fill in the W-8BEN form if you haven’t done so already.
HiSporty66,
Wow, I am quite pleased with 25pps.
What are your expectations?
bestest,
If Accustem is listed at 25 pps - I will invoke my promise to hunt GC down like a dog
They can bundle them I am assuming???
I thought the minimum price a listing on Nasdaq is $2 so that would mean $1 a share ,about 75p.
Hi Rockz, HL. Thanks.
TradePheonix,
Thanx for the link.
By my simple understanding, looking like 25p p/s. Anyone confirm or reject?
vbw
Greend, it depends on your broker. Who is your broker?
Trading212 are selling them on our behalf as soon as they get them, for how much and when exactly on the first day of trading I don’t know. Apparently it’s some sort of legality that I don’t understand with regards to how trading212 are set up as a business. They can’t hold and pass on shares they receive in situations like we’re in with accustem they have to sell them immediately. I’ve asked for a further explanation several times and received nothing else.
Hi Lurking, what was the reason for that (I recall it being discussed but not the reason)? Given we can buy TLSA, why not Accustem? Any thoughts appreciated...
'DEPOSIT AGREEMENT dated as of ___________________ __, 2021 (the “Deposit Agreement”) among ACCUSTEM SCIENCES LIMITED'.
But at least it is sometime in 2021 - silver lining and all that..........
I guess what we're all interested in is the price seeing as several brokers are selling them and giving us the money rather than the shares
Thanks for posting this link TP.
I notice they are registering 250,000,000 American Depositary Shares and 'each American Depositary Share representing two ordinary shares of Accustem Sciences Limited.'
Therefore, I imagine they are allowed to issue up to 500,000,000 Acustem shares.
It looks like it's getting closer to Acustem being a reality and actually being able to see value, however ,no date as yet.
'DEPOSIT AGREEMENT dated as of ___________________ __, 2021 (the “Deposit Agreement”) among ACCUSTEM SCIENCES LIMITED'.
BB
Sorry if I seem a little dense. In layman’s terms what does that mean. Regards.