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CRl, I have seen people spell out their email address cryptically, missing out the obvious at etc . Or reffering people to web site s set up for the purpose or Facebook etc where they can be found . Obvious I would not suggest that because like Boris people should follow rules at all times!
Tav. the suggestion is admirable just need someone Corporate Law knowledge otherwise these guys will run rings around anyone else.
As I see it, is a bit like a bank calling in a mortgage where the borrower has reneged. Of course certain protocols have to be observed. It is reasonable to assume OF have tied up the Loan agreement in such a way that they are now acting in a Lawful way, having discussed the situation with Duncan. As already stated this position has not occured overnight.
I am happy to organize an action group.
Not sure how to offer email though. Not permitted here , is it.
Thanks CRL. Interpath certainly look like a company that can help in this situation. Do we as shareholders have any influence here? How do we find out what Duncan is doing ?
So DDDD had investors from MERCK to Pfizer and others. If one of these bought them out or someone else, and continued the trials, would we as shareholders of DDDD lose our shares? Or would this all boil down to what the purchase agreement ended up being ?
Have Interpath worked for other companies …. Did Redx use Interpath?
Fair, yes the directors have failed Andy it is the same mob who will now be at the table with the administrators. Whereas the pi’s have no voice but collectively a larger shareholding. If I was down more than £2k I would be organising an action group myself to ensure I was not stitched up during the administration process.
Taverham it is a responsiblity of Directors, who are elected by Shareholders, to act in a way to protect and preserve Shareholder's interests. They have patently failed.
Why has everyone seemingly written off their capital without a fight? Why no action group etc?
Roache
Look up Interpath.
I have lost shirt off my back. And expect to get nothing back. Because Oxford are onto a winner by defaulting. Any alternative would be up to a year yes.
A defensive statute against a creditor would have to be imposed and shielded by a court. It exists and Interpath would know.
I will contact Interpath Monday.
But it is only through legal leverage that Oxford can be prevented from forcing admin. They care not for anything but profit. I have been here before. And prevailed. But it was Trinidad and Tobago protective statute. We have the same but will Interpath use it?? Like Article 20 in the US. It works. But will they use it?!?!?
It's devastating news for all share holders here....wasn't expecting this. Definitely a bad time for this to happen especially when cost of living and inflation is squeezing finances...just at a time when people holding back the pennies to just pay the bills let alone treating oneself to luxuries..this going to administration feels like its robbed people of their livelihoods etc. Soo sadd! Imho
Roache, no redx’s shareholders didn’t lose their shares. They did end up being diluted once they were trading again but that was because a new ceo came in and she attracted some new investors.
As far as administration is concerned, I think there's tiny possibility it could come out, slimmest of slimmest hope tbh. Should that be the case u could be looking at more than a year or so....look at mccals that went into administration...etc imho
I am just reading what ms happened now. I am gutted like everyone and trying to get my head around it.
What happened to the shareholders that had bought into Redx before they went into administration ? Did the shareholders lose their shares?
Does anyone know for sure if we have lost everything, or is everyone just speculating right now?
Is Duncan obliged to give any announcement or update? When I Google it there is not much out there about it.
Plan for the worst hope for the best.
The majority of companies don’t make it back from admin but it does happen and if it happens with 4D then it won’t be the first pharma company to achieve it. As someone correctly noted yesterday, similar happened to redx pharma when Liverpool council called in the 2M loan it was owed. Some assets under development were sold for $40M and the company came out of admin on firm ground. Redx’s pipeline wasn’t as promising as 4D’s.
Time will tell.
'What happens when an investor maintains a short position in a company that gets delisted and declares bankruptcy? The answer is simple—the investor never has to pay back anyone because the shares are worthless.'
https://www.investopedia.com/ask/answers/maintain-short-position-delisted-stock/
The shorters make 100% profit
It will be trading private in a month, bought for £1
Of course Shorters who did not close before suspension will have lost. Should the stock return from suspension their(Shorters) positions could be enhanced. Remember, most Shorters are shrewd operators and will have closed when the stock fell dramatically on Wednesday.
Quote.
"4D is a world leader in the development of Live Biotherapeutics, a novel and emerging class of drugs, defined by the FDA as biological products that contain a live organism, such as a bacterium, that is applicable to the prevention, treatment or cure of a disease.? 4D has developed a sector-leading discovery platform, MicroRx, that rationally identifies bacterial drug candidates based on a deep understanding of function and mechanism.? 4D’s Live Biotherapeutic products are orally delivered single strains of bacteria that are naturally found in the healthy human gut.?
4D has clinical stage candidates in Oncology (including a clinical collaboration with MSD/Merck & Co.), Respiratory and Gastrointestinal disease, and a strong pre-clinical pipeline with programs in Oncology, CNS, and Autoimmune/Inflammatory disease; in addition we have an ongoing research collaboration with MSD (Merck & Co.) utilizing the MicroRx platform to discover and develop LBPs for vaccines."
Doesn't make sense does it?
Doesn't make sense that when you read the quote, how a junior BIO with so much to offer with ties with some of the big bio's are in administration.
@Max1976 I assume a write-off. Shareholders shafted.
fairdealer20
Wouldn’t shorters have lost also, if they haven’t closed out their positions before admin?
Scambler it is the beginning of the end game. OF demanded repayment of loans by yesterday (24th), company could not and do not have the cash to repay. Consequently OF appoint Admininsitrators and NOT 4D.
Administrators terms of reference which will have been prepared by OF, are obliged to undertake an exercise to achieve an outcome that can see the company continuing in some form. Bear in mind OF want their money, the terms of which may well be such that part or all of the company will be sold. Value of physical assets is straightforward, patents, goodwill etc are not so easy to value and indeed in some eyes could be worth very little.
The company could be sold lock stock and barrel at a knock down price purely to satisfy OF. Do'nt forget Administrator do not work for nothing. The likelyhood of existing shareholders being left with anything is virtually zero.
The debate on Shorters have and will continue to rage here and elsewhere. IMO the practice should be outlawed.
How many posters here have religously ramped but speak with forked tongue. Readers will form their own opinions!!!
AIMO
Any chance some money back or need write off? I never had same situaton. Thanks.
Hi All,
Administration is not always the end game, but close to it. I'm sure Duncan does not relish the thought of losing his money, or in fact the company. As much as the buck stops with him Im sure this was not an engineered outcome.
He could end up with the company if he and others can stump up some funds. He couldn't find funds for 4D so I doubt he will be able to for himself.
That said, he is no longer in control, however, he will have some influence with the administrator.
I believe he is in a precarious position.
So 4D needs £13m for OF, or an amount acceptable to OF as full and final settlement, and then some for continued research.
My view is that the Administrator will focus initially on trying to sell the company as a going concern. Its cheap. £13m for oxford and then some for ongoing development.
The more I think about this the more I believe this will be bought at a bargain price. If they asset strip it wont be worth much. 518 has still got to be developed out. All the cost of trials etc.
4D still has momentum.
Not sure if it gets a buyer how we all stand though!
He might not care about other investors but if 4D want to become a big player in the pharma market (if indeed its salvageable) he will need to think about his reputation and that of his company, both in the UK and in the US. Hopefully that will play some part. Now that he's tied up with Merck and others its not a good look to play the Aim game and simply spin off another company. I'm probably being too naïve but lets hope not.
He might, and I hope not, but lets see. Appalling if he was allowed to get away with that.