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Yep fair comment bignose. such a stark contrast.i do think Fum's bod deserve considerable credit for how they have gone about things over the last 3 years or so.
Reminds me of that Dire Straits song
Money for nothing….lol
Morning The.Italian.
Not really off topic since it is related and shows what can be achieved even with snake oil….lol
Not much will happen here for a day or two given it’s CNY and most offices close for the period. Also, since I really don’t expect Jamie to be spending his time usefully on our product any longer, I don’t expect any urgency in keeping the market updated.
Morning bignose.yes,good new and progress on fum this week.the stifel news was,to me,particularly interesting.plenty of scope for gains there imo fingers crossed apologies to others for off topic..
Morning all.not been much to say im afraid,although i do of course, endorse fully all the justified animadversions directed at the PBOD over the last few days.presumably we will get a profit warning in next couple of weeks(last year 17th feb)don't expect any detail ,but we may perhaps glean some idea of developments from any change in the amortisation rate.if it increases it will presumably indicate lack of good news on china/us progress.anyway,we will see.
And yes, I do own shares in snake oil….lol
Should have invested in FUM which, although has a product Dr Mike considers as snake oil, is getting approvals and selling well. Maybe our product should have been marketed as snake oil too since snake oil is obviously what joe public want.
Will the market cap reach the dizzy low of 5mill squid. Gulp
The most transactions in a long long time, although mostly for single 10k lots and indicative of not many free shares and it still goes down. Seems those that want to sell are accepting whatever is offered.
Having invested a long time ago in this ‘money fountain’, I have many questions. How do you justify your salaries, having produced nothing of consequence? Why do you think that an occasional name change will produce magic results? Why have you failed, over many years, to promote a product that initially, at least, seemed to potentially be profitable? At 92% underwater (the last time I had the courage to look), are we about to have another name change after the raise to pay our inept management?
I think the master investment gurus pretend Regent Pacific does not exist at these events as performance could damage the street cred
Bothwell, thank you for this piece of entertainment.
According to Wilde, "“Sarcasm is the lowest form of wit, but the highest form of intelligence”, and your effort did produce a hearty belly laugh.
Have a "recommend"!
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Of course, I have not included for the 5mill usd milestone payment from Wanbang and an additional 2mill usd on the first sales (all excl. PRC witholding tax). Both which should be payable before the end of 2024. The problem is; is it enough and will it be in time. Even if JM kindly loans enough to keep the company going till payment is received, what about the phase iii costs ??? Given the current lowly market cap, surely there isn't enough to do anything with, if a placing is considered.
Communication horrendous . Performance horrendous. Salaries horrendous. Announcement content horrendous.
Morning bignose, can't disagree with any of that. dire s/p movement over last few days. no news from DLI (tweets or anything).woeful performance.doubt there is any way back now.
Morning chaps,
So a couple of days share activity which has so far driven the sp down 18% and I expect will further decrease as we close in on the expected profit warning. I think I am right in writing that the current market cap of around 10.5mill GBP is the lowest it has been since pre PLE takeover days and could be the lowest even long before that ? Certainly a lowly figure given what the company is supposed to have and with several licenses in place.
I think I may have given the BOD, CEO and chairman far too much credit calling them monkeys and clowns. I'm now moving on to parasites given how much money the company has eaten into with nothing to show for it. I certainly have no idea how the company can continue in its current state, especially since the China approval is not expected till Nov/Dec this year and then surely another 6months to a year to see any income stream from sales.
The company and its employees are either considered as a laughing stock for throwing away something which should have been blockbuster along time ago or they are considered as shrewd business characters for shafting so many shareholders for so long - it could go either way. :-)
I do wonder now if all is lost given there surely doesn't appear to be any way out of the mess they have created, even the DLI, which could have been their only other income stream, appears to not be going anywhere (certainly no third party appears to be signing up for a longevity license) ???
I now wait in anticipation of the said profit warning and an update of how long the company has left.
Have to disagree with you there, Dougie. I think the majority of discussions have been pretty damn short, and on the wild premise that there's actually been any recent BD activity, becoming a deal shorter:
"Intellectual property, market exclusivity"?- "Uh, none"
"Reliable 3rd party manufacture, with security of supply"?- "Uh, no..."
"Planning in place for the HFA phasedown"?- "Eh, what's that?"
"Potential supported by historical sales"?- "Sheepish look..."
"Post approval study data or other marketing collateral?"- "Looks out of window..."
"FDA acceptable co-primary endpoint defined and validated"?- "Mumble, mumble..."
Ironically, all over in a minute...
Now the last fundraiser is well out of the way, they are now moving on to the next one.
I expect the Chinese submission has been made (there is no reason for it not to). The FDA process, however, is anyones guess since the amateur’s have messed it up from day one.
Problem dougie, is the with mellon and co owning just under 60%, they really don't have to do anything more than comply with minimal market reporting (annual and half yearly and profit warnings etc).the other 40% must be pretty much entirely PIs, with no focus or power. of course, the real reason for the silence is probably simply that everything is going badly,so just keep quiet about it.if there were any positive news i see no reason not to report it, now that the last fundraise is well out of the way. anyway,they can't avoid the next results date.
Unbelievable really. Total lack of regard for the shareholder. Hidden away , releasing one enthusiastic announcement a year saying things like '' discussions taking place with licensee's'' bla bla , Well these have been some seriously long discussions.
The company should be doing webinars/ online forum where they can update shareholders and open the floor for questioning. You would think the share price performance would have forced the company into action to try and stimulate a reaction but obviously not.
Au contraire, Keithbfk.
While there's nothing more refreshing than a deep draught of schadenfreude, any pleasure is solely down to the smug satisfaction of seeing my predictions hold firm. Not that it requires Holmesian powers of deduction to twig Recordati's indifference to Fortacin; that the American dream, always the remotest of possibilities, has been completely scuppered by "strongly positive" (= truly appalling) Ph II results, and that NMPA submission is impacted by an extraordinary history of CMC issues, but let's not dismiss the possibility of iffy study data.
What might 2024 hold for RPG, besides the inevitable going concern warning? Pushing my neck out, let's go with an end to the pretence that there's any meaningful dialogue still to be had with the FDA, a re-tabling of the China timeline, with the definite prospect of Fosun shelving launch as the company restructures and focuses on more lucrative opportunities than offered by a run of the mill knob spray. That said, Zezheng Biotech now has two bioequivalence studies of its Fortacin generic underway, although it's hard to envisage a shoal of little fishes chasing what is a very modest market, even by Chinese standards.
On the bright side, no need to worry about RPG having to raise cash to cover a Phase III study or a continuing regulatory consultancy bill, so only a few measly millions needed to cover salaries.
Blimey! 1.5 million and my investment languishes 92% down. Alq must be particularly chipper at the state of affairs!
Dougie
As far as I remember JG was on 1.5mill USD, although he did supposedly take a 30% cut during covid which is now back in place. The 1.5 mill USD, from what I remember, was based on a calc made by POM, who is an accountant, and was based on one of the earlier year end results or annual reports. Although not explicitly given he was able to deduce that amount based on what figures were available. He also emailed JM and mentioned the figure which JM didn't deny, giving some support to the amount calculated.
The remaining salaries at the time were pocket change in comparison. Not sure how much the DLI execs are paid but they surely must surely be more than the average monkey gets in peanuts.
Morning bignose and dougie. can't disagree with any of that and what a depressing read it makes.not expecting nay news necessarily now before results at end of march.at least they will have to say something at that point.fear is it won't be good news!can't see really how they can avoid some further fundraise shortly.