Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Pretty underwhelming to be honest, with total revenue for FF ( from DSM and direct sales ) down, but at least we've got some flesh on the bones wrt sales of FF in H1 ( Apr to Sept ) for this FY for which we're still expected to be loss making.
I'd hoped our current cashflow would have been closer to break even than recent sales suggest. The need to fund raise is, as expected, still there but can't, I'm assuming, be very far away now.
BB
This company just can't make a profit after 14 years of trading! At least it's clear that another fundraise is imminent.
Terrible results. £354k in 9 months (74+280) with another £155k in the pipeline this year. So that will be about £509k (74+280+155) income in a full calendar year, with a good portion of that going to DSM.
That means BH order will potentially be multiple of not much.
Not sure you have those figures right.
Firstly, I would think that DSM would have made sure that their customers bought from them before they handed over, which would have a chilling effect for a while. Then, if turnover for the half year was 280k, the second half should deliver that and more. Having sales of 155k on the books at the start of the second half of the year, there's a good prospect that the second half will beat the first by some margin.
Setting up a despatch hub in Ireland is another cost, but, if it avoids tariffs (debatable), it could be self funding.
I've warned a few times that we shouldn't expect much from this report, only the full year to 24 will give a better guide.
I'm not happy that this view has been born out.
£280k for first six months with another £155k in the pipeline. Its only September, we have another 6 months of the financial year to go. Think you are being a bit mean at £509k :)
Correct Gixer, some only read what they want to see. Lets see full year results. Usual and new suspects putting there doom and gloom. Also raising is maybe not will have to
I don’t think that includes ff+ as we already have stock ,so maybe £145k on top
Nice to see you are still around BB , always appreciate your posts.
In my last I did say it wouldn't be great . But I am just a doomsayer and not to be listened to. Carry on.
Whichever way you spin in gixer, this company still has the turnover of a corner shop. We've been told endlessly to expect "multiples" of current sales, but today no-one can tell shareholders when that might happen. We've been told that DSM will be selling loads of Fruitflow to support improved gut health, but they shifted hardly anything when selling a product proven to improve heart health so why should we think this will be any better? And they're now saying, as clearly as they've ever said, that another raise is imminent. If I were BYHEALTH I would be extremely concerned about the financial health of my UK partner in a business they have invested significantly in.
Thank goodness I decided not to add another half million yesterday.
If the Chinese get a positive result from SAMR then they might take out PXS prior to informing the market of their success. The Chinese are like that . In that case If we get 2p we will be lucky. I guess they might try that in about 6 months?
I am glad you listened to me Krusty ;o).
Gixer's snippets are like white noise they mean nothing , it's just the money that matters and there is next to nothing when the directors take £250K approx out the Co annually.
The Chinese like the number 18nvery much. So IF please stick to this magic number of 18P .
I'd take 1.5p to be out of the shuite show - 15 years of the same regurgitation of commentary. Concluding that this was a transitional period is utterly laughable. Whoever compared these results to a corner shop is correct. PXS is and always has been a shambles. I'm in it because it was my first ever investment and I'm too stubborn to get out, but I wouldn't touch a company like this as the modern version of myself.
1.8p, and quickly would get my vote. Leave it to the Chinese - or any other buyer for that matter. The BOD here are useless and monetising a glorious product.
Thought the BOD were on £65k each?
I make my own decisions as far as investments are concerned everhopeful, I don't take heed of keyboard warriors. gixer's posts on this board are the only thing keeping me going here. Everybody knows the product is fantastic, the issue is with the people charged with selling it. They work on the basis of bonuses & incentives, clearly they don't believe they can earn enough trying to flog Fruitflow so it appears from the numbers they can't be bothered. Yet what have PXS done - signed them up again to sell it as a gut health product! Unbelievable!!
IF with share options is over £100 K I think. I posted about it years ago.
Did you miss the smiley face krusty? Quite agree Nick PXS is my biggest investing mistake, all down to liking a product but not realising that it may not be an easy fit to shop shelves. As we have witnessed.
Revenue .the £74,239. Will be £280k + £155k I think!
Fruitflow II SD ingredient - from 1 January 2023
74,239
-
DSM Alliance Agreement - up to 31 December 2022
170,269
281,899
Fruitflow+ Omega 3
145,408
144,269
389,916
426,168
Lots of complaining but no-ones selling?
Buy more, worry less.
I believe the it was DSM who have developed and applied for patent for that particular health claim Krusty.
So it doesn't seem possible to avoid letting them sell in that market. We still see yoghurts selling for this area, even though they have no EFSA standard on the bacterial effect, if you follow the advert, the claim they are making is on a couple of minerals that are in loads of foods. But with Rachel Stevens fronting it up, I aint going to not watch.
I know the Chinese very well as I worked with them for many years in early part of my career. If they are not sure that they could profit 100s of millions they will not invest 10s of million in all those testing. Time will tell the truth. 18P please IF.