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They're going to need cash soon...............
"Based on its current level of cash it is expected that the Group will 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."
Can't be clearer than that!
Also, earlier in the report, is the usual annual bit about "whilst the company remains in loss making ..... the need to raise funds" etc etc.
I should imagine this is a rapidly aging shareholder base! The lifers have been here since 2009!! Always hopeful: Always disappointed!
They have given up.....
They have given up the outsourcing/manufacture, warehousing and profit share of Fruitflow. All to the benefit of Provexis though.
How can you read the report and assert that anyone has given up. DSM are all over Fruitflow for a whole new health application.
But then, I'm assuming you have read the RNS.
??? I said DSM look to have given up, not me! The sp hasn't dropped because the market is relieved there's no cash call. Like many on here I'd love to get out but after nearly 11 years I'm currently sitting on a loss. My average is 0.94, I'm looking for 3.5p to offload some & leave the rest as a free carry. I suspect that might take another 11 years though, if I can last that long.
Don't forget the new gut product/s being released this year once the patent is cleared. Yes a lot of paste and copy but nothing has changed. Potential is still there. He can't put that if it's not true. The fact SP is stable shows MM are ok with update. Will take your shares to if you have given up.
Revenue down 15%, rest is usual copy & paste "multiples of existing blah blah". Looking more & more like DSM have given it up as a bad job, it's all about By Health now.
There are health claims aplenty, although only one with EFSA approval. The DSM one would appear to me to need a new submission, but Dr Niamh has a wealth of experience now to assist in the wording of a new application, and numerous other independent studies to act in support. Really is a travesty that Fruitflow isn't established to a much greater extent in the marketplace by now, but that's the speed that the industry appears to move at. I reckon By Health are capable of moving the needle in a big way, and their promo work suggests that they are ready and willing to go big. The new liberalisation allowed by their government should also help consumer confidence, plus the established benefits Fruitflow has shown to alleviate the effects of Covid. As others have said, this could be our time.
"But I think gixer may know more"
Afraid not. Products don't need EFSA approvals but you cant make a health claim without it but could be linked to our original EFSA approval.
I am guessing but think that there maybe some link to pre or probiotics. Hopefully all will be reviled soon.
Excellent spread on SP today. So much better than it has been
Yes a good reminder of how much potential for this in 2023. And I don't think we /can need regulation approval for it as no one else has. But I think gixer may know more
This article gives the full context of gut microbiota modulation and it’s importance in CVD prevention and why the DSM research is so important. Certainly one to read. Not sure if we have seen it before, but if we have it is worth revisiting in the context of the new patent.
https://mdpi-res.com/d_attachment/nutrients/nutrients-13-00144/article_deploy/nutrients-13-00144-v2.pdf?version=1609811478
A good summary of the SAMR process for ‘new’ claims.
https://www.cirs-group.com/en/food/products-with-the-new-health-function-claims-are-being-possible-in-china
Thanks Gixer,
I am assuming (hoping!!!!) that some of the studies, that you have recently highlighted in here, represent the results of the "missing" studies from the long awaited "Blue Cap" submission.
Whatever happens next, I for one am becoming more and more positive about the future.
Thanks for your ongoing research and a very Happy New Year.
Slam
"It looks as Dsm are backing off"
Does nobody read RNS's anymore?
• Two new agreements secured with DSM in June 2022 for Fruitflow, to replace the Alliance Agreement: (i)
a Transfer of Business agreement and (ii) a Premix and Market-Ready Solutions supply agreement, both
to take effect from 1 January 2023.
• DSM’s existing and prospective pipeline customers for Fruitflow as a straight ingredient will transfer to
become direct customers of Provexis WEF 1 January 2023, and Provexis will take over the outsourced
supply chain / production process for Fruitflow at that time. The customer transfer process from DSM to
Provexis is currently ongoing, and thus far it has seen a number of positive interactions with customers for
direct sales of Fruitflow by Provexis in 2023 and beyond.
• New partnership with DSM has been agreed relating to the gut microbiome patent, subject to certain
milestones which have been agreed between the parties. Provexis and DSM are keen to progress this
encouraging new technology towards an early commercial launch of products based on it.
Head in hands emoji.
https://k.sina.cn/article_1617264814_606580ae02001jxpl.html?from=health
Agreed. But we won't exist as PXS in 5 years.
Is that your view of what Friday’s RNS will say Naz? All a bit rubbish and no hope?
I feel much more positive and think the next 5 years will see exponential growth.
Sell me your shares then. I will buy 6k off you at the price now. Your constant moaning is driving me mad. 2023 will be a good year for OXS iMO
It looks as Dsm are backing off after all our wishes and hopes have been dashed and we now are going in to2023 with no hope or any success as byhealth doesn't look much positive to raise more funds to by left over stock from dsm
"The Company will need to hold Fruitflow in stock from 1 January 2023 onwards, to sell to new and existing
customers, and the Company has therefore agreed to purchase from DSM the remaining stocks of Fruitflow
which DSM holds on 31 December 2022. It is intended that the Company will pay DSM for this inventory over
the course of a three month sale back period commencing on 1 January 2023, with payments due equally
(amounting to one third of DSM’s 31 December 2022 inventory) on 31 January 2023, 28 February 2023 and
31 March 2023. The amount of inventory which DSM will hold at 31 December 2022 will depend primarily on
DSM’s sales of Fruitflow over the remainder of 2022, hence it is not currently possible to state with any certainty
how much inventory will remain at 31 December 2022, or therefore the amount which the Company would
need to pay DSM for this inventory on 31 January 2023, 28 February 2023 and 31 March 2023.
Under the terms of the DSM Transfer of Business agreement, the Company can elect in the first quarter of
2023 to purchase some but not all of DSM’s remaining stocks of Fruitflow at 31 December 2022, being a
decision which the Company will seek to make in the first quarter of 2023 once the Company has a clearer
understanding of (i) the amount of stock remaining at 31 December 2022, (ii) the best before dates of this
inventory, which are currently estimated to be favourable / long dated in light of recent production runs of new
Fruitflow material in 2022, (iii) likely customer demand in 2023 and beyond and (iv) the Company’s financial
resources at that time.
The amount of stock which will remain at 31 December 2022 clearly remains uncertain as set out above,
although it is currently expected to be in excess of €1m (one million Euros), an amount which - if the Company
elected in the first quarter of 2023 to purchase this inventory in its entirety, which is likely to be in the Company’s
best interests - would require further equity or loan finance. Subject to the outcome of ongoing negotiations
with a third party, the Company might also be able to hold some of this stock on a consignment basis, only
paying for the stock when it was required for sale."
Any thoughts on when and how .much Pxs need to raise to take over FF?
Nice find again Gixer. Hope IF gives a some insight for 2023 in the report due this week. If the MMS mark the share down I for one will certainly top up
The Plant Derived Functional Foods section is written by Konstantina Papastavropoulou and Charalampos Proestos, both from the University of Athens.
Big section on Fruitflow.
https://orca.cardiff.ac.uk/id/eprint/155054/1/ZABETAKIS_9780128238127.pdf
Without purchasing the full publication the information is still limited to what DSM's plans are and will hopefully be more obvious when our patent is published.
"The results of the successful gut microbiome human study will be submitted in due course for publication
in a peer reviewed scientific journal. The patent application (i) states that the results of the human study
strongly support the use of Fruitflow for modulating gut microbiota to confer a number of health benefits,
and (ii) sets out some potential new uses for Fruitflow in treating a wide variety of human health conditions,
beyond Fruitflow’s existing established use in heart-health."