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PXS is going to explode higher.Maybe i am naive as i just started to buy some, but the narrative in the FY RNS was clearly bullish! PXS seems to be on a path for a major upside move... excepts below:
"support the planned launch of a number of Fruitflow based products in the Chinese market, with potential volumes at a significant multiple of existing Fruitflow sales."
"The planned launch of Fruitflow based products in the Chinese market has been progressing well. "
"The total projected annual sales value of the prospective sales pipeline for Fruitflow continues to stand at a substantial multiple of existing annual sales."
"By-Health's planned launch of Fruitflow based products in the Chinese market has been progressing well. Clinical studies conducted in China are typically required to obtain the necessary regulatory clearances in China, and a significant investment in eight separate Fruitflow studies has been undertaken at By-Health's expense.
Five studies have been successfully completed in China, and two clinical studies and one animal study are currently ongoing.
The five completed studies showed excellent results in use for Fruitflow, and they provide strong evidence for By-Health in its regulatory submissions to the State Administration for Market Regulation (SAMR), China's top market regulator."
"By-Health currently expects to be in a position to complete the last of its eight studies and file its regulatory submission to the SAMR for Fruitflow in the first half of 2022, seeking to obtain a new permitted health function claim which would be in addition to the currently defined list of permitted health claims in China."
"If By-Health is successful in obtaining a new permitted health function claim, it is currently expected that this would result in some significant orders for Fruitflow, potentially at a multiple of current total sales values. The Company continues to believe that Fruitflow has the potential to play an important role in the Chinese cardiovascular health market."
From Daiken Biomedical.
https://www.daikenshop.com/product.php?ino=NEWDK200EC&code=4710255450395
Looks like a Test product
1 October 2021
Provexis plc
('Provexis' or the 'Company')
Grant of Share Options
Provexis, the business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, announces that it has today awarded a total of 10,000,000 options ('Options') over ordinary shares of 0.1 pence each in the Company ('Ordinary Shares') under the Provexis 2005 share option scheme to certain scientific, sales and marketing consultants to the Company.
These Options will have an exercise price of 0.80 pence, being the closing mid-market price on 30 September 2021. The Options are exercisable, subject to vesting, between 1 April 2024 and 10 years from the date of grant.
Following the issue of the new Options, the total number of Ordinary Shares under option which could be issued if all of the performance criteria are met is 178,500,000 Ordinary Shares, representing 8.1 per cent. of the Company's issued share capital.
For further information please contact:
Provexis plc
Ian Ford, CEO
Dawson Buck, Chairman
Tel: 07490 391888
Unless we get bp bluecap this month !!!!
Looking at results, although a improvement on the past going forward probably a couple of years at least until break even can be achieved.
Blue cap will help the cause but have no definite timeframe only probable months.
Not a top up price yet for me, but keeping a eye on in case it goes down to the .5 range.
I am sure IF had is reasons
IF chooses his words very carefully..
Number of BH studies has gone from nine to eight.
No mention of an APP now.
SAMR submissions are still in plural, suggest bp is still in the mix.
------
Jan 2021 By-Health has made a significant investment in nine separate studies in China, at its sole expense, in support of the Fruitflow based products which it plans to launch in China.
The five studies which have been completed by By-Health showed excellent results in use for Fruitflow, and provide strong evidence for By-Health in its regulatory submissions for Fruitflow
A Fruitflow App is also being developed, primarily for use on mobile device platforms
Sept 2021 By-Health has made a significant investment in eight separate studies in China, at its sole expense, in support of the Fruitflow based products which it plans to launch in China.
The five studies which have been completed by By-Health showed excellent results in use for Fruitflow, and provide strong evidence for By-Health in its regulatory submissions to the Chinese State Administration for Market Regulation (SAMR) for Fruitflow.
By-Health is now working on an extensive regulatory submission to the SAMR for Fruitflow, seeking to establish a new permitted health function claim for food ingredients such as Fruitflow that can demonstrate an anti-platelet effect, addressing the aberrant blood clots which can lead to heart attacks and strokes.
Wconfused
Seems like we have (or did have) £1m stuck in a business current account paying zero interest and nothing in a business savings account. According to the financials we got £113 as bank interest receivable. In fact we got more in FY2020 (£347) than in this RNS. Would have thought a lump of the £m would have been better off in an interest bearing account. Admitted it wouldn't be much but is it a sign of management incompetence?
Thanks Boring Bernie for a sensible post as per usual. You know I am bottom of the barrel faith wise here my concern is the time .The UK Gov is allowing Genetic crops to be grown and fed to Humans now , how long before they genetically modify something to promote platelet aggregation? I click on hold as I am under water , it is definitely not a buy , potential sales all too far away and too pie in the sky ATM.
wellsite, no problem, I didn't think you were but felt I had to clarify :)
Good question for Ford at the AGM I think. That and what is the timescale to get the health claim function.
colbaltblue, not sure what part of my post you think I am being optimistic about so its difficult to comment on what you see as "indisputable evidence to the contrary"
you say " If (and it's a big if) revenues flow from China"
Do you really think a company like By-Health would spend all that cash on studies and regulatory submissions if they didn't think they would see a return?
Sorry gix, I wasn’t having a go.
I think IF should provide clarification though
WS
kievsky, its unlikely but you never know.
wellsite, "why wouldn’t BH have gone for bp bluecap"
I am not saying they haven't gone for blue cap for bp just that the RNS isn't clear in saying if they have or not.
It's academic anyway as the invisible man will probably use invisible ink so the shareholders will be in the dark as usual!!
Kievs
I will try
WS
CB, you ask "why would DSM give a tinkers about Provexis in new negotiations".
The answer is that Provexis own the IP, so, if DSM and Provexis can't negogiate a new deal, then DSM are only able to see Fruitflow to their existing customers, which means any new customers in the pipeline, are off-limits. DSM have invested a lot of time and money into Fruitflow, and they won't want to throw that away. So they'll want to do a deal. Plainly, they'll want that deal to be good for them, so they won't be throwing money at us for the sake of it, but I'd say it's very likely that a deal gets done which suits both parties.
I think it's extremely unlikely that we'll go it alone on Fruitflow,. As Alf says, that would be a big change of the business model and I doubt there's an appetite for investors to back that, but you never know.
In retrospect, I think the main reason for raising a million was as much to do with seeing us through to breakeven / profitability as it was to do with investng in FF+
FY 2021/22 isn't going to be that year, 2022/23 might be, but, to me anyway, it's looking like 2023/24 is a decent bet for it. Others will doubtless disagree.
BB
Well my train tickets are booked. Gixer/W$ are you joining me. Maybe a a pint after the AGM to
Gixer, I admire your tenacity and optimism in the face of indisputable evidence to the contrary. If (and it's a big if) revenues flow from China it could be a further 3/4 years before this company breaks even. That could mean a possible 15 years since DSM became the dominant partner and the company was to expect "transformational" developments. It just didn't happen and the momentum was lost due to inept management and no vision. I ask myself, why would DSM give a tinkers about Provexis in new negotiations, when they have clearly failed thus far to gain traction? A great product which has been let down by the people entrusted to sell it to the world IMO.
gixer
why wouldn’t BH have gone for bp bluecap - otherwise they are betting the farm on something that currently isn’t bluecappable (new word). Not the BH way imho......
W$
On the whole, encouraging.
Whilst the normal negative views remain on loop tape, the counter view is that a strong step forwards occurred in the financial year. Sufficient funds are in place to put the viability of the company beyond doubt. Revenues received increased substantially, were they to increase again by the same percentage in the current year, that in itself could bring self sufficiency very close. China is another matter entirely, as are the other future projects which can bring revenues of many multiples, it's more than obvious that this would move the company in to real earnings.
I know that the negotiation of a new agreement with DSM has been under way for a long time already, the conversation I had with Ian Ford touched on this, without any undue disclosure. The wording of the paragraph explains that Provexis could become the supplier of Fruitflow, and the suggestion that the amount paid by DSM for them to supply their existing client base could become more rewarding for Provexis. The prospect of Provexis changing their business model is intriguing, but I have some concerns over the funding and establishment of a stand alone supply chain. Firstly, it rocks the boat, the established relationship with a global specialist is not to be scrapped lightly, and I'm sure it won't be. Everyone, from the top down, has been more than a little frustrated by the pace of revenue growth, but these results show real growth, and the prospect of much more growth. I wish Ian Ford well in his negotiations.
This is from 2 years ago on how to submit health functions but no indication of timescales
https://www.cirs-reach.com/news-and-articles/Breaking-News-New-Health-Food-Raw-Materials-Functions-in-China-are-Waiting-for-U-to-Explore.html
As BB says, Overall, pretty good results.
Well if I am honest, revenue was by far greater than I expected.
The new health function claim is by far the best way forward and to have something like "Help to reduce platelet aggregation" on that list of permitted health functions would be fantastic.
Unfortunately the RNS was unclear on the position of Blue Cap. Originally By-Health was to submit for Blue Cap on Feb 2019 under the existing permitted health function claims and imo this would have been Blood pressure reduction as the other 26 health functions are not a good fit for Fruitflow.
As for time scales after submitting the new health function claim..... Not aware that this has been done before so how long is a piece of string. (short I hope)
No stuck it on ABDX XX
Have been here 15+ years and would think anyone who's been here a significant amount of time would want to hold on at least another few years given this statement:
Planned launch by By-Health, a circa £5bn listed Chinese dietary supplement business, of a number of Fruitflow based products in the Chinese market is progressing well. Potential sales volumes remain at a significant multiple of existing Fruitflow sales.
Will be looking to add more to holding, when possible, if this remains sub 1p