Adrian Hargrave, CEO of SEEEN, explains how the new funds will accelerate customer growth Watch the video here.
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Thank you for the Vox interview...so escrow money (£1.17m) is already in bank...good news. CEO also states that it has sufficient working capital for 12 months (albeit not on my numbers). But even if he is right the loan covenant is for constant 9months w/c requirement, so even by his reckoning it will need capital in 3 months time to cover the covenant. Also, he states that activity is being constrained by cash levels. I like what company does and the management team, but how things could be so much better with more cash.
If the perceived risk of the money not turning up is why the share price fell 19.6%, then it's ill informed fear. Could also be random sells combined with low volume of trades.
No one should fear a fundraise at this point: for the first time in several years, things are turning around in a positive fashion. Long painful journey for many of us long term holders!!
No guarantees obviously, this is business!
Vox Markets interview; see from around 16:20
https://youtu.be/SEF0mbr_Uy0?feature=shared
CEO: "we received the funds already"
Probably OK for a year forward, but could do with more cash for expansion. A fundraise, if any, most likely a positive event in my opinion.
The money were released. There is nothing to watch. Maybe later in the year!
In its last statement, company stated that it had applied for the cash being held in an escrow account which was due for payment in May. Today is the last day. If it has not come in, I do not believe that it will pass the monthly covenant test and will require an urgent Placing. Watch this space!
I should have waited for the drop to be a whopping 19% before commenting.
12% drop on a casual Friday after a a solid earnings report for H1 and optimistic outlook for full year and year ahead.
Are there macro elements at play here? I noticed a bit of general selling motion across industries in late May. This may all change with firmer stances in interest rates by central banks (BOE and ECB ready). FOMC coming up in June. Assuming so much depends on what the FED decides, no matter how far removed interest rates in the US feel in relation to ONC. Any thoughts? I would have expected the shares to pop a bit more than they have done. Perhaps the funding topic is causing concern for investors, but I wouldn't know why as finances look much healthier now than 1 year ago.
Interims were in line with expectations today showing that the new strategy is gaining traction. Management reiterated the £3m sales expectation for fully year and that order book is looking good. £2.3m cash was absorbed in the period, leaving gross cash of £0.91m. Company has requested release of £1.17m cash held in escrow from disposal, which will be needed to get ONC through to year-end in August. Company needs to prove each month it has 9months working capital on balance sheet at all times to satisfy loan covenants. This will not be the case as the fiscal year proceeds, so will need a cash call soon.
Move to profitability looking closer?
23.04. MG at Proactive London."Martin Gouldstone, Oncimmune’s Chief Executive Officer, said: “As ageing-related diseases become more prevalent in society we believe that our ImmunoINSIGHTS technology can be instrumental in finding better diagnosis and treatment solutions for these diseases, while making clinical trials more efficient and productive. We are working closely with our partners in this area and I look forward to discussing the topic with world-leading experts later this month.”
"The company is already working with leading drug discovery companies on ageing-related research and has been approached by several global pharmaceutical companies about the use of its technology in this field."
Time will tell but I have observed this company for a while now and I guarantee that the upside potential for this is tremendous. The diagnostics market is poised to expand considerably over the coming years and with the diverse application of ONCimmune's service, I think deals will be closed. Many deals.
I also believe that the (Bio-) Pharma industry is awake and on the up again. Coming out of a prolonged period of under investment and bearish sentiment, there is a lot more activity on the M&A market. I can see a bull charging from the distance
Probably right. Someone certainly thinks there is reason to buy.
I bought a modest amount of shares at 21p. It was mainly based upon a sudden 12% jump and the RNS about meeting thresholds and declaring interest. There seemed to be few but chunky buys. There was zip on this board. I'm no expert at all and probably not a sensible reason to buy, but I have seen one of the board, Goold, mentioned in other articles. They seem like they have their heads screwed on and are serious people.
In the most recent report from Feb 24, it was indicated that H1 FY24 results should be made public via a trade update in May. I assume that the shares will start to get bought up because it is a phenomenal entry price for a business that will have their first 'clean' report post sale of non-core assets. This report will show an expected high increase in revenue and possibly reveal a rich and growing pipeline. At this point the strategy I'd defined, the resources are all hired, the overheads are gone and the margins are wide. On top of that there is a solid baseline revenue from existing contracts incl. Freenome and other MSA and ongoing projects. Many more to come. I believe we are at the 'tipping point' right now.
I hope others agree. Curious to read other opinions. But I cannot see the SP going back down from here, quite the opposite
Something is going on here. Anyone know if a trading update is expected?
AIM moves in mysterious ways.
Sure these stocks will start getting gobbled up with the Mai FY24 H1 results. If we can see a strong growth trajectory
Falling even with buys...
Someone clearing out their big holding (for whatever reasons) or the usual AIM circus??
Great value though, will consider buying more!
I wish i had some spare change right now... ONC taking a big hit knocking off 20%. At these levels a definete buy to get the average down.
Like you said Dr. This is a long game but i firmly believe that the latest report will have been the worst summing up a year of change and metamorphosis.
I think right now is when the cocoon cracks...
Theboyg, I think they are doing the right things: setting the company up for sales and growth. It may take time to demonstrate further they are on the right track. Results going forward will show if this is real or just fluff. The tech is really quite special and should be a winner going forward. Good entry point. Very thin trade though, I think most long term holders do just that: hold!
Pardon, ...sale of Oncimmune Limited and Oncimmune Europe GmbH
I have not. I think the company has been in this spot here 2 years ago when the Sales strategy and structure was laid out by former CEO. Company needs to prove that debt to equity ratio is solid and not spiral out of control. I think there should be a check around that given reduced overheads from asset sale.
The other component is proof that there is sustainable and predictable growth in the stock. I hope 150% is the start to a consistent acceleration based on repeat customer contracts MSAs and longer term commitments as from Freenome.
Sad to say it may take another couple of reports for this to recover but based on the fugures (unmuddied by sale of Oncimmune Plc), right now i think is a smashing SP.....if you believe in thw longer term prospects of the business. I do
Anyone attend webinar??
Down since then
I watched video
Unimpressive I thought