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No new news as far as I can see
"Eroxon® initially launched in March 2023 and the Company delivered total revenue of £3.10 million in 2023 (2022: nil). Revenues were predominantly generated from Eroxon® sales and further details of revenue are provided in Note 5 to the consolidated financial statements."
So £3.1 million in revenue not including the upfront payment. Is that what everyone else is reading?
That is how I am reading it.
The Haleon upfront payment will be logged in the first half update (normally realsed in Sept)
Thats comforting.
Not bad considering we have many markets including the USA to open.
I wished they'd been a more specific about timings for the US release. But I guess that's up to Haleon...
Copy and paste of the trading update which gave January orders of £.5m.
If Feb and March were better could have mentioned this.
Disappointed that it was a re hash of the trading update
See what the presentation brings
I seen it as early 2025 for USA launch. Trying to find it again so I can post.
Not sure I like this statement.
The Directors believe that it remains appropriate to prepare the financial statements on a going concern basis. However, they also acknowledge that a material uncertainty exists that may cast significant doubt on the Group's ability to generate sufficient net revenues and resulting cash inflows and raise sufficient finance to meet its expected costs to discharge its liabilities in the normal course of business. The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.
The auditor's report includes reference to the material uncertainty relating to going concern. Further information in relation to going concern can be found in Note 2.2 of the Preliminary Results
Yes.Early 2025 launch for USA is mentioned and is a key piece of information. Nothing else much that is new in the RNS.
The bit about going concern is standard wording that has to be included and I would not be worried about that.
Think it's a pretty standard notice in most financial statements.
but I cannot find Note 2.2 of the Preliminary Results in previous rns's - anybody have an idea
Of course I'm happy to see finally some cash start to flow in but a couple of points I feel were missing from the RNS.
1. In future strategy it talks about commercialising other OTC products for the sexual health market. What could those be? A ladies' product? Back to gel in a durex? No idea from reading the text.
2. Absolutely NOTHING on non sexual health development, not a peep. What about local pain relief? That was our main thrust a while ago. There is a massive market coming from multidirections: sprains, minor sports injuries, arthritic joints, patients awaiting replacement joints, and many more.
I'm always concerned about the risks of investing in one trick ponies. At least I would hope we would make some of the right noises about future directions.
Plenty of positive intent thats for sure. Along with enthusiasm over being able to supply the ROW and USA.
I wont be around to listen to the investors presentation at 0900. Really appreciate anyone who can post some of the highlights.
I'm reading the RNS as profitability in FY2024 (this year) which was not on the balance sheet in previous years. Getting a feeling this will tick up
They stated the Haleon $4 million upfront will be recorded in this years revenues
Hi, these R&D priority areas including female health product development points were all covered in an interview that was posted online a few months back. You will no doubt then ask where is it now - well it has been posted here at some point back and if no one can easily find it, I will see it I can find it later..
Big results really come in 2024 and a big uplift in 2025. Good long term hold with the share price rising as a good income stream comes in and more than likely dividends.
What a load of waffle largely regurgitating all previously said or reported. No forward looking indications of sales etc and "moving towards profitability" nothing new either which may well mean no improvement on past statement will not make money until FY 2025. No wonder market not impressed.
Have posted before that Barder and Co display a lack of commercial nous and this company needs a new EX Co or it needs to be taken over by more a more experienced team.
Buffaloben are you for real? The “going concern” is a requirement by the stock market regulation for every company announcement in its update. 1st revenues and profits and 20% market share for a small company, profitability in 2024 and 2025, 7m in the coffers while marketing and distributions cost met by distributors, foray into the Middle East and Latin America after Europe and the USA. Why put a negative spin on it?
Comek2, rather than having a rant at Buffaloben perhaps you shoukd be asking why the market has marked FUM down by almost 15%.
What a story we have to tell. But do you really think that story is well told? FUM's RNSs have a tendency to underwhelm the market, just like today.
"Why put a negative spin on it?"
I think I have been balanced. If you read all my posts this morning. I am not going out of my way to see anything negative. Unlike the markets.
I found the RNS to be underwhelming. The only thing tangible is the 3.1m revenue and 20% of market share. The later was fed to us in the last RNS. The rest is just talking up what we already know.
I do like the talk on ensuring to build up supply lines. But surely this is more of tasking for Coopers/Haleon etc.
I remain largly optimistic in the medium term and no intention of selling.
" on the path towards profitability in the next 12 months."
Careful choice of words.
Could mean anything.