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B2. Like you say it's not really that important about the lease deal.
Atb
Sorry Woodstock, I'm thinking they would not want to compound financial pressures by buying properties right now, or have I missed something?
B2. They have got the option to buy premises in San Antonio.
This is the article I referred to in my 12:57 post. The timescales were true as at date of publication, apologies if these references have been quoted before :
https://www.cleanroomtechnology.com/news/article_page/Tissue_Regenix_plans_tissue_engineering_expansion_in_Texas/157299
Article published 19.08.2019:
"Phase one of the expansion will commence immediately with part of the new building being converted into office, distribution and warehouse space, allowing for additional cleanrooms to be built in the original facility, which are expected to be operational by the end of H1 2020".
"Over time, it is planned for further processing and packaging cleanrooms to be built in the new facility, therefore, increasing the company’s ability to process more tissue and produce products".
Gareth Jones, Interim CEO of Tissue Regenix Group, said: “I am delighted that we have secured this additional facility to support our ambitious growth plans. The group has undertaken a number of operational initiatives in order to increase production capabilities and meet the growing market demand for our products. Having commenced a second shift at the beginning of the year in our current facility in San Antonio, the phased build-out of this new facility will allow us to meet the growing requirements of our customers well into the future.”
Also:
https://www.expressnews.com/business/health-care/article/Tissue-Regenix-to-expand-San-Antonio-area-medical-14504344.php
As of 09.10.2019, 41 persons were employed at San Antonio.
More chance closing blue:)
All BB’s have a madge lol
Investors. Always. Excited
Deramp Lol. The pathetic excitement over every 5% movement is cringeworthy
Something is brewing madge is back to deramp lol
No Bladey it’s ****ing tiny % lol Jesus
Perhaps we people waking up to how cheap this actually is
News would be good too !
Buys after buy, this is moving soon.
Buys really rolling in....news?
Buy coming again
All was the small seller
Thanks guys for your views.
I have limited time at present, but will have more tonight, so will make this do for now.
Chester, I have seen but will have to re-find articles about the refurbishment of the Texas facility.
From those articles timescales might be deduced, however there is no mention of expenditure on capital equipment, so I don't know the timing of investment in plant equipment.
MidCap know that there is a problem with finances scheduled for March, but must also know that TRX cannot fulfil their orders at present, so basically everything TRX manufactures between now and March is already sold.
That being so, they know what income to expect when time for paying an invoice is taken into account. The only unknown is if TRX fail to keep up with current productivity levels because of labour unrest or equipment failure or some other issue.
"MidCap want to make sure their investment money is going to be safe before they jump aboard the Tissue Regenix train. "
As I see it, MidCap could be constricting the rate of plant development because they control drawdown, so in effect MidCap is already on board the train, and they are already controlling the rate at which TRX can invest in Texas, and possibly this is one of the reasons the FD resigned.
They might do this because they want TRX to spend the cash available without a drawdown in the way MidCap wants, not the way TRX wants.
Once TRX has no funds in March, Drawdown might be conditional upon what it is to be spent on.
I hope I'm wrong about this, but it's the way it feels to me.
Hoping to post tonight.
Thanks all.
Hopefully the website will get updated at the weekend with the latest major shareholders.
agree alpha,but while the mms can use these buy/sell flags to their advantage they most certainly will exploit it to the hilt,any transparency to make it a more level playing field wont suit them,i dont agree with how they are alloewd to delay trades either,or see peoples stop losses,but its aim and wont stop while they are coining it in,gla
Hi B2HS2L
You raise some very good points.
TRX have said that they have enough cash to run the company until March 2020. They probably face some large bill's to pay at that time that are related to all the spending on re-fitting the works and the new kit they have bought.
MidCap want to make sure their investment money is going to be safe before they jump aboard the Tissue Regenix train. The agreed loan is not just cash + interest its cash for new shares at an agreed price. I'm not fully aware of all the details but if you look back through the RNS's you will find the announcement of the load deal and all the related detail.
So if MidCap decide that in their opinion that their loan / investment money will not produce a return they will say no. But TRX has the nearly three months to show that the future is going as planned. The day that MidCap sign that loan off and hand over the cash is the same day this current share price will like the biggest give a way ever.
Let me know if that makes sense to you and also let me know if you have have a different take on the possible events going forward.
All the best
Chester.
I suspect all these trades at 1.06 and 1.05 are buys. My top price to sell for over 2hrs has been under 1.04 and now sits at 1.029. And people say mms don't play games.
Bee. Well said. The company has our support 100%.
Good morning B2HS2L,
My take on this was that MIDCAP what let TRX have money for nothing that they are looking after their cash and whey should't they? It's down to sales now. IMO it's a company that have done the research but now require a different skills set as Mr John Samuel, Executive Chairman Tissue Regenix Group plc, commented: "I am very pleased that Midcap have shown their support for the Company by entering this revised agreement. There is still much to do to bring on stream new capacity but with strong demand for our products and the hard work and dedication of our employees we will continue to review our funding options." ....................they have my got vote and my money. GLA
B2H. I believe most of us agree of your concerns hence the fragile position of sp.
The way I look at the pressing matter of finance is two fold. I am happy for an ipo as this company hasn't wasted money in the past. That's a brave way of saying, some of us are waiting for Rns saying cash raise requested. Personally i believe at current sp, we are in a win win situation.
The fundamental are looking interesting. According to the rule of physics we should see break even or even profit next year. Eps is improving year on year.
Like you say, the finance situation is a little uncomfortable but again i believe we are in at price either way.
Atb
From the 14 Nov RNS;
"Access to Tranche Two and the final tranche of $2.5 million ("Tranche Three") of the Term Loan remain in place, however the drawdown of these tranches is now subject to MidCap's discretion and satisfactory recapitalisation of the Company at that time."
My problem is with the finances of TRX at present.
They repaid Midcap $5.5Mil, and now Midcap has discretion of drawdown, so not surprised the FD resigned.
Just how quickly can TRX now implement their plans for the new plant in Texas, - is it as quickly as TRX intended, or much faster / slower?
When tranches are allowed to be drawn down by MidCap, we should expect an RNS to advise, - yet no RNS.
So are Midcap waiting for sales invoices to be paid before further plant investment resumes?
Happy to hear your side of this coin.
The SP is stuck between 1p and 1.15p.
The 10% traders just see no news as ideal to keep buying in around the 1p mark and sell just it clears 1.1 - 1.2p. Added to this the MM's do mix the buy / sell by continually changing the spread.
Still it leaves the price in the bargain range if you want to hold for 12 months.
My thoughts are that even in the worst, worst case scenario the company, their order book and all the IP is worth a lot more than the current share price. I've been in this share for over 5 years so have followed the progress .
Woodford pumped a lot of money into TRX , probably the reason they could buy CellRight Technology's.
We are now waiting for a clear indication from the company that the last quarter 2019 has been a success. That's not going to happen until mid January. The only other game changer is if they announce a new product line or a new deal .
All the best
Chester.