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Thanks AJP08 - some interesting added info. in here for me:
1. Only $2m needed if they wanted to build a new plant - v. low capital intensity and minimal electric used in process
2. So many parallel new product avenues are here beyond detergents and hygiene - many significant - new ones for me were crop protection and industrial water treatment
3. IP moat - 16 families blocks competition and locks us in to brands
4. Retail channels (now ubiquitous ITX in most key channels)- very diverse with >170brands. Amazon - large mail order access channel
5. We have Reckitt as a client also which I did not know - another massive cleaning/hygiene global player
6. Big bonus focus onto much higher new vol markets for 24/25+
7. Now we have an artistic painting and shoe/ leather items to physically demonstrate and showcase to ITX clients - impressive.
8. John 's words - "very bright future & very exciting" so my take is that we are really on the cusp of major diversification opportunities
Think that some of the large trades over the last period may be those taking the opportunity to use up their ISA allowance using up their tax free allowance for the year, sell out of share account and buy back into ISA, as April is just around the corner. (basing that on on real share price change based on size of trades and many very closely timed?
For example
25 Mar 24 09:29 2,183 219.50 4,791.69
25 Mar 24 09:29 2,203 218.00 4,802.54
25 Mar 24 09:09 2,404 219.30 5,271.97
25 Mar 24 09:09 2,423 218.00 5,282.14
RNS out tomorrow, with Date for the Finals?
ATB
AJP
Yes horrible spread, I bit the bullitt & went for 4426 earlier
I sold a bit a 255p on the 13th, I'd be willing to buy it back right now, but I just refuse to when this is the spread I'm presented with:
Bid=195.7200 GBX Offer=241.8571 GBX
Well for every seller there is a buyer (somebody took GBP 10k in one slice today) so someone is picking these up on the cheap as we are heading into the early April announced results and 24/25F outlook disclosure which is likely to tip more fuel onto the SP in the context of the wider diversification ingress (leather/super abs etc). The only reason there is this final little taking profits undulation in the SP dynamics is that the share was very well oversold in 2023 with the big uplift coming recently only toward 'historical average'. However, with the c. £2.50 (5p old money) large financing more that a year ago now and much further excellent ITX business delivery 2023/early 2024, that professional benchmark price (2023) must now be looking a pretty damn solid reference point for investors one year on from that investment.
My criticism in the past of this company was never what it was doing but the lack of comms. This is being done now very well and I genuinely believe that, this is one of the best companies out there(not a ramp),only producer of what it provides,addressable multi billion dollar market,fully funded and run properly. I genuinely can’t believe that the price is so low. Well done itaconix!!!! I have invested in some real donkeys of companies and don’t claim to be an economist but this looks good for the long term
Impressive
Hi
From last month
Not sure if this has been posted previously, but totally worth the watch. (full presentation and Q&A)
https://www.youtube.com/watch?v=LW02eSCJ2Bw
ATB
AJP
I agree very low sp for a business that has so much upside, I personally don’t think John would sell at any price short on f 15p old money, he’s got a long term goal and has to much invested in this to let it go unless the price is high and realistic
It's pretty typical of this share and many others on Aim to float back down after a big rise , wonder were it will settle £2 ? Surely not £1.50 , if it does I might buy the company myself lol , but in all seriousness , very low SP = offer here . imo dyor
Must admit I sold about 25% of my holding around £2.40 last week as a pull-back is almost inevitable. The money is sitting in my account ready to buy back in when/if we get to £1.80. People sell for all kinds of reasons, even if you believe the general direction is up.
Nice buying opportunity, I have purchased some more today. Have been invested here for some three years, there is always a pullback before another significant rise, of which I am pretty confident.
Good for you Ricky to skim a little after the rise but this does not takeaway the compelling 2024 investment opportunity from here on in
Bills overdue now.
Silly question maybe 🤔 but why did you sell now not after the results in April?
That was me.
Needed the money for house repairs but finished selling now. I still have 80% left for a much higher price.
So what is all the selling about?
It's the near term revenue line growth expectations and how many new key supply accounts we are winning that are together the key value drivers for me rather than 2024 profitability per se. Great profits will flow naturally from continuing diversified sticky client access/channels. So the status of mkt traction across ITX expanding portfolio is what I will be interested in in the forthcoming results discussions. This will spark new investor interest/demand and potentially wider corporate activity.
Hi Luthrin
Then the figures may well be better than I have forecast, this was only a rough set of numbers and are I guess open to interpretation, but where I was coming from was that the overall figures should not be a million miles away from breakeven?
Good to get others thoughts on what we should expect, as we can see from the recent posts on links into new products being produced by the big boys, that we are also making inroads there, which can only be positive.
Not long now, my guess would be 3rd or 10th of April for the finals, should be very interesting?
ATB
AJP
AJP: ITX had cash and cash equivalents of $10.9m at 30 June 2023 and $10.0m at 31 Dec. As far as I'm aware, money market and T-bill rates over the H2 period were consistently above 5%, so interest income ought to be significantly higher in the second half.
However, this assumes that the CFO isn't indulging in period-end window dressing and that the cash wasn't being used for working capital purposes in the interim.
Hi JD
No problem, was tucked away at the bottom of the RNS.
Have had a stab at the figures for 2023, back of the cigarette packet job (lol)
1st half 2023
Revenue -$4,032
Cost of Sales – ($2,899)
Gross Profit - $1,133
Admin Expenses – ($1,863)
Group Op Loss – ($730)
Interest Income – $48
Loss for the period ($694)
Reclassification items $439
Total Loss for the period $225,000
2nd half 2023
Revenue - $3,900
Cost of sales – ($2,400) no raw materials all in 1st half
Gross Profit – $1,500
Admin Expenses ($1.900)
Group Op Loss – ($400)
Interest Income – $40
Loss for the period ($360)
Reclassification items $400 marked slightly down from 1st half
Total profit for the period $40,000
Looking forward to see how our GPM has improved, profits this year ?
Thoughts
ATB
AJP
AJ - Quite right and my apology
Hi JD
From last trading update.
"Further details of FY23 trading and the outlook for 2024 will be provided when the Company announces FY23 results planned for early April 2024."
ATB
AJP
AJ - wishful thinking, I'm afraid.Final results always in June. Only exception was April 2022, when they announced a fundraising exercise, shortly after.
Scarcity of shares around to buy and the 'cashing-in profit' sentiment will continue until June, probably.
Many investors seeing a doubling of the SP in a month can't believe their luck, so have cashed in, accordingly - can't blame them, really.
Will drift further I expect, unless a good news RNS is about to be launched- but us LTHs know the true value.
GLA
Dishwasher product (Europe)
https://www.ecosplendo.co.uk/claro/eco-multi-tabs
• Polyitaconic acid sulfonated sodium salt
https://itaconix.com/wp-content/uploads/SDS-Itaconix-CHT-122-rev-EU-2-1.pdf
ATB
AJP