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Absolutely, it's why these boards can be very dangerous....I already held this dog before I joined LSE but have to admit some of the postings on certain other small bios on here have no doubt conned some poor people into losing money they couldn't afford.
Over many years ‘optimists’, often implying they had deep insight or an inside track to the board room have for what ever reason portrayed an erroneous picture. Hopefully not too many took notice of their posts. But like all long term retail stockholders I take no pleasure in the fact that at every turn they got it wrong! C’est la vie.
Balerno, incorrect on both accounts. It IS NOT in administration , yet. re read the RNS. Also there is no talk of pre pack admin - that is normally when say a company has a new vehicle lined up to buy the company for a nominal amount. No talk of that. Why did you post that?
I've gone right off Pharma/Bio's just wish I had sold the lot in Agl above 35p recently instead of a %.
I wonder if the mm's knew but if they did they would have spiked it to encourage more buying.
I'll write it off then hope for a % back if they lay off all staff and get any price for parts.
So it’s been placed into administration. It’s not a liquidation so there may be a prepack or the components will be sold off. There is a factory plus the IP. Watch this space for redundancy announcements. Given the precarious nature of the finances then these are the options where the vultures can get cheap pickings. Hope we get the forms from the administrators soon.
Indeed. I also hope that none of them sold any shares today, or in the last week or so.
Not that the regulators would do anything anyway, if it came to it, I suspect.
They should NOT have said they had cash till end of Q1 if they knew they would need cash early for creditors.
I'm not out of pocket much, but I am annoyed this has happened so early.
I say more likely, but I guess they have spunked a fair bit to get to this point.
More likely they have retained capital to cover redundancies and creditors rather than spunking the whole lot.
How did they manage to sp*nk away £5m in THREE months! Wtf
Iain Ross also said in one of these online business updates that they aren't going to run out of cash. A statement of fact, until you read the small print. Did similar happen with RedX? The name alone being a warning sign if ever there was one! Lol.
How in god's name has this happened? They said they had cash till April?
Apparently I was incredibly naive to believe this.
Will anyone buy the company as a going concern? Possible but chances are less than 10% imv. The chinese partner may take a look but who knows?
I’m so sorry for LTHs of which I was one once - paying several £s equivalent to today’s sp when Woodford was heavily into it. I sold out 2 years back at 44p - I couldn’t take the strain anymore. At even that sp I lost a bucketful.
Hope something turns up for you. ATB
Someone is going to pick up some very cheap patents and run with them at the expence of all us LTSH
Rip Rene.
Hopefully you will make some of it back shortly, I’ve been buying HE1 which could easily do another 100% tomorrow
I was never up in this one, but this is why taking profits, when you have the chance, is always sensible. Especially on AIM.
For all the talk, I guess what they had was basically not worth anything. Otherwise they would have got the funding they needed.
IMO the majority of the blame sits with the previous BOD, who left this company essentially dead in the water, despite years of funding and generous remuneration.
Not that this is any comfort to LTH's for more recent holders, who have ended up with the same outcome.
Can't believe how much I was once up (on paper!) and now have nothing....a very sobering lesson learned
Shambolic.
News doesn't look good. Many years ago I was into this. Feel for investors here but management has spaffed so much money away over the years. Good luck to you all.
Very sad end to proceedings here.
Another AIM duster for me, but it was always a high risk, death or glory one, especially after the last RNS.
GLA and I hope we all recoup our losses here in other outfits in future.
RIP
Mm's have total control in this stock. Full offer buys all day Friday at 3.6p, do they push it ...not a chance not one of them moved higher, they hold their nerve and just wait for people to start selling at 3.33p and here they come easy profits for the mm's. I'd not sell any bio at all time lows when they still have a cash pile, one bid of exciting news and the idiots that only buy spikes will pile into them at 3-10 times the price. Shame hardly anybody buys stocks at all time lows now
The annual report can be taken as fact and shouldn't be ignored, I can speculate based on the facts as I wish:
'...there is no guarantee that attempts to secure adequate cash inflows from the Group’s exosome platform, IP and legacy assets or through equity fund raising with the timescales stated above will be successful. These conditions indicate the existence of a material uncertainty, which may cast significant doubt about the Group’s and Company’s ability to continue as a going concern.'
Of course for private investors the hope would be that the CEO and board are working to secure a superb deal for our benefit, but there are no facts suggest this.
AIM companies are required to follow a recognised corporate governance code and disclose how they comply with it on their website54. They also need to appoint a nominated adviser (nomad) who acts as a regulator and a guide for the company.
If an AIM company runs out of cash and wants to go private, it would need to follow the rules of the Takeover Code, which applies to all public companies in the UK. The Takeover Code aims to protect the interests of shareholders and ensure fair and equal treatment of all parties involved in a takeover bid.
According to the Takeover Code, a company cannot be taken private without the approval of at least 75% of the shareholders who vote on the offer. The offer must also be fair and reasonable, and the directors must act in the best interests of the company and the shareholders.
If the shareholders reject the offer or the company fails to secure a deal with a partner, it may have to resort to other options, such as issuing new shares, selling assets, or seeking debt financing. However, these options may also have drawbacks, such as diluting the existing shareholders, reducing the value of the company, or increasing the risk of default.