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“Of all the tomatoes we buy in the UK, British growers currently produce around a fifth – around 100,000 tonnes. During the summer, this goes up to around half the tomatoes bought. The rest are mostly imported from elsewhere in the world (some 400,000 tonnes).”
Source: https://www.britishtomatoes.co.uk/tomato-facts
Clearly growing tomatoes in the U.K. is viable.
3 for 2 at H&B
Code TREAT gets dowm to 11.33
Are you sure you should be an investor? In anything?
For the money IF is getting he should be making FF in his garage imo , taking the P---.
Shall we guess the cost of growing tomatoes. Example 1. The fruits are harvested by machine, having grown outdoors in the warm climes of southern states such as Italy, Spain or Portugal. Example 2. The fruits are harvested by hand, having grown in a controlled environment requiring night time heating at the very least, and daily tending and sideshooting whilst the fruits develop and ripen, with huge maintenance costs for the infrastructure.
Not difficult to work out, surely?
Thanks for your thoughts , IF should have gone ahead with this action ASAP if it has ben costing PXS money.
I still want FF to be made in the UK for export to countries out of the EU.
As Fruitflow is manufactured in the EU and shipped to the UK there should be no tariff when shipping back to the EU but that seems to be a bit of a grey area in some instances.
Link from results
https://www.bbc.co.uk/news/55648201
"The boss of M&S was using Percy Pigs as an example of a situation in which it was not yet clear whether a tariff needed to be paid.
The sweets are manufactured and packaged in Germany and then shipped to the UK - no tariffs are payable because of the trade deal.
They are then taken from the M&S warehouses and exported to stores in the Republic of Ireland, which is part of the EU.
Now, this is the complicated bit. Because they have left the EU and not been processed enough to count as being made in the UK, it may be that a tariff needs to be paid to get them back into the EU, despite them having been made in the EU in the first place.
If they had been unpacked and put on a cupcake, for example, there would be no tariff because they would have been transformed, but just storing them in the UK is not enough.
It's hard to see why this situation has emerged because it is not obviously in the interests of either the UK or the EU.
Easy answer is to warehouse FF in EU then no tariffs within EU
EH. It has to be in a Eurozone country to get around the import duty!
So no chat about how much this Ireland office or postal address company is going to cost ? layers for the EU red tape etc .
I repeat why not make it in the UK? Get in touch with the Tom growers in Lincs , the NLs have a Co there that have built lots of green houses and get them on board with with FF production.
As far as I know, the board comprises:-
Dawson Buck, who introduced Fruitflow to Provexis at the very start, taking Dr Asim's discovery on the route to market.
Ian Ford, who has effective day to day control, has contacts with every possible partner, ne they scientific of commercial.
Dr Niamh O'Kennedy, who is the brilliant scientist who designed and executes all patent and regulatory applications, and has invaluable knowledge of Fruitflow.
So, who would you change, and who would you put in their place, also who would recruit someone else?
I think Tony Pulis retired.
The problem is you cannot turn the board from a sow's ear into a silk purse without changes
Sphinx100,
That is very likely and I am pretty sure it is going to happen sooner that later. I repeat time is the best thing to tell you.
Of course if the Samr approve ff or if DSM ever release anything (unlikely) then we are looking at substantial multiples of that !
Dippy, so you're predicting a percentage increase of the SP by Ca 3500% and a market capital of about £500 million. That's quite a leap I think you'll agree! I think there's more chance of Corbyn being the next conservative PM.
So £280k + £70k for ff+ sales ,looks like H1 will be £350k. There’s £155k for H2 2024 . With a good H2 we could be looking at £800k - £900k 2024
DP
the results show lots going on
More staff (costs and pension up)
DSM paying us monies now
The whole stucci around best by suggests to me we don’t want their stock now as presumably is cheaper to source new.
Sales 435k, on annual basis equates to less than 12k users if 10p a shot. Even at 5p a shot less than 25k users.
- i. e badger all
The quicker DSM become just a customer, the better.
W-?-$
Yes it will be 18P or more. If you do not like it you can leave it ASAP.
I'm kicking myself. When it was 1p. And I just thought this will fly one day. But now looking at this. It's not going anywhere. So from 2009 to now we still at this sp.
I have been looking at the accounts ,losses are increasing and profit is declining, we should have higher profits ,two years running revenue is falling
A step back in time with not only but also..........
https://www.youtube.com/watch?v=kuEaDBRQnl0
mol
Well done for taking the hit and getting out I was 50% under at 1p , should have taken the hit. Oh well greed made me not want to have a loss.
How much is a 'office' in Ireland going to cost and why can't an UK manufacturer be found ? that way anyone in the EU who wants FF can pay the tariff not us. Also why wasn't this foreseen long ago Brexit was 2016 ,7 years ago. I have been busy doing my work I shouldn't have to do IF's for him.
IF and Buck should be on warrants not wages they have been failures . Going by what you have seen how much an hour are they worth ? £5 ?
Evening colbaltblue
jees that was a quick response from a non shareholder
mind i'm not in here either - just commenting on a previous holding - against generally my usual position
just thought it strange
mol
1. Accounting policies (continued)
Going concern (continued)
The Company has needed to hold Fruitflow II SD in stock from 1 January 2023 onwards, to sell to new and
existing customers, and the Company therefore agreed to purchase from DSM the remaining stocks of
Fruitflow which DSM held on 31 December 2022.
It was originally intended that the Company would pay DSM for this inventory over the course of a three month
sale back period, commencing on 1 January 2023, with the Company having the option to purchase some but
not all of DSM’s remaining stocks of Fruitflow at 31 December 2022.
The Company and DSM have been in further negotiations around the inventory transfer throughout the course
of 2023, and the parties expect to be able to conclude these further negotiations in the coming months. The
amount of stock which the Company will finally elect to purchase from DSM remains uncertain, and it will
ultimately depend on (i) the best before dates of this inventory, which remain favourable / long dated in light of
recent production runs of new Fruitflow material, (ii) recent stability data which suggests that the best before
dates could be further extended, (iii) estimated customer demand in 2023/24 and beyond, (iv) the comparative
costs and timing of a potential production run for a new batch of material and (v) the Company’s financial
resources at that time.
Based on its current level of cash it is expected that the Group may therefore need to raise further equity
finance, or potentially new loan finance, in the coming months, a situation which is deemed to represent a
material uncertainty related to going concern.
Considering the success of previous fundraisings and the current performance of the business, the Directors
have a reasonable expectation of raising sufficient additional equity capital or new loan finance to continue in
operational existence for the foreseeable future. Subject to the outcome of ongoing negotiations with a third
party, the Company might also be able to hold some of its future stock requirements on a consignment basis,
only paying for the stock when it was required for sale. For these reasons the Directors continue to adopt the
going concern basis in preparing the Group’s and Parent Company’s financial statements
mol
The Directors have identified the following principal risks and uncertainties that could have the most significant impact on the Group's long-term value generation.
Funding and other risks
Provexis has experienced operating losses from continuing operations in each year since its inception. Accordingly until Provexis has sufficient commercial success with Fruitflow to be cash generative it will continue to rely on its existing cash resources and further funding rounds to continue its activities. While Provexis aims to generate licensing and sales revenues from Fruitflow, there is no certainty that such revenues will be generated. Furthermore, the amount and timing of revenues from Fruitflow is uncertain and will depend on numerous factors, most of which have in the past been outside Provexis' control due to the terms of the Alliance Agreement. It is therefore difficult for the Directors to predict with accuracy the timing and amount of any further capital that may be required by the Provexis Group.
Que? who signed the agreement?
jees you cannot make this up
£26m accumulated losses and continuing
Going concern
Our procedures included:
• Discussing with management their expectations for key elements of the business, their strategy, the resulting cash
requirements and their expectations in respect of the company’s ability to raise additional finance.
• Reviewing management’s forecasts and considering their reasonableness and the appropriateness of key
assumptions used in their preparations.
• Reviewing the relevant disclosures.
Key observations
Management have concluded that the going concern basis remains appropriate, but subject to material uncertainty as
outlined in note 1 to the financial statements. Based on our procedures, we are satisfied that this conclusion and the related
disclosures are reasonable.
mol