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Price dependant on data results that will include biomarker data that will indicate areas that SDC1801 would be likely to show most potential.
Yes there are other inhibitors. Similar Tyk2 and Jak1 inhibitors,
They are not all the same. Breprocitinib has around similar selectivity for Tyk2 over Jak1
Molecular size being very important.
I have discussed this much in the past.
Our Molecules all 31 0f them are patented.
The compounds as they sat during candidate selection, preclinical evaluation at end of preclinical, phase 1a, phase lb and the price would rise considerably from.the previous stage.
Indications as to which areas of therapy gained on phase1a data along with biomarker data will indicate areas of greatest potential for market commercialisation.
Regards
1802 is the elephant in the room, SOG. We might have to give some of it away or take on a more backend-weighted licence but most pharma would want 1802 in their pipeline rather than someone else have it.
As dire as it feels, I wouldn't rule out any of those funding options.
On satisfactory safety data, SDC 1802 can enter phase 2 trials. Does the Hood accept this fact or disagree and if so on what basis would you make your argument?
Would the Hood care to place a value on the worth of this compound alone accepting the fact that we will have a compound SDC that can enter phase2 straight from end of preclinical?
Regards
Never been a Mr Orange on here!
The value at the time?
You have little to know knowledge of Sareum or the rorth or potential wort of either SDC1801 or SDC1802.
The value will rise considerably from end of preclinical to end of phase1.
Clearly you are out of your depth here.
Data results are what are required by the interested parties as stated in the 2022 AGM.
'WELL SHOW US SOME DATA'
Do you remember this or are you as l believe you are ignorant of this fact also?
Regards
Perhaps Mr Orange could return and help?
Of course, you are correct, they can raise via share dilution which is going to be at what price?
BullorBears
You put:-
'Why take the CLN? They have no other options, it gets worse for SAR as a CLN doesn't even want to provide more finance to them!!'
They can raise funds via share dilution
They could take on a partnership
They could on licence 1801.
So why do you state no other options.
Sareum stated that this was what they saw as the best option.
The other option most likely would be to on licence at preclinical, however this would have meant a considerable drop in financial worth in Sareum
As for you stating no other option what do you base such an absurd ridiculous statement on?
Regards
I think Tim and John are honest guys and SAR are better at comms than most AIM boards but Parker is corporate finance, wheeling, dealing and sailing close to the wind. It's a dance that they all willingly participate in. Not only that, I think they enjoy it. The retail investors supply the fuel for this machine because somewhere along the line, someone has to pay. We can't all win. We don't know what happened between summer 2021 and today but maybe if they had been more truthful, it might not have been as painful as it has been. I'm still optimistic here but as I said. It is the final nail in the coffin for my AIM investing.
Plenty of good shares on AIM, just need to avoid the bad ones!
This might not be a bad share but it has bad financing, most shares with a CLN end up with the SP on the floor or in Administration.
Why take the CLN? They have no other options, it gets worse for SAR as a CLN doesn't even want to provide more finance to them!!
If you are in a share that has a CLN, then move on to the next share!!
All of aim is as you said. They are getting away with all kinds. Genuine people are being fleeced because of buying into something that sounds brilliant for all but ends up slowly but surely delisting after years of bull. The mm's make a fortune out of ordinary people trying to make a few quid extra. Syme, SAR, Copl etc etc etc etc
GF, It's why I'm done with AIM. I think it will be finished in a few years. It's all spin. Not necessarily fraudulent but they only tell you what they need to. Not Just SAR, but all of AIM. I've written enough RCA responses in my time to know when we're being fed what they want us to know and think. The balance due Aug 2025 line is just that. They put that in because they want us to know that now.
Claretsmad, the only lies I see are from those with an agenda to destroy the sp. Those guessing or speculating are doing so precisely because the agreement with RF is so opaque.
"The act of making something less clear and less easy to understand, especially intentionally." Does this ring any bells with regard to the RF financing arrangement?
Been in this share for a looooonnnng time.
So many deluded people passing giant lies and guesses on as facts.
Another speculation. With all 1.5 million shares sold, we could well be under the £1million balance clause. Which, under the terms would open up RF to give us more cash. The amount would be based on no more than 10% of the market cap and the average 10\20 day trading clause. No option I would like but an option nevertheless.
If a placing is needed and the discount and dilution is big. We need a full explanation, for me, if we don't get a satisfactory explanation, this is the red line where an EGM is called.
Potnak, no idea on how many shares RF have left.
They may still of had a few left prior to this latest share issuance.
The agreement would need to be looked at in detail and not just Sareums released key points.
My own very rough guess is they have sold around 900k to 1,100k since the issuance.
Ideally we as the investor should be informed as to how much is owed and how much outstanding along with how many shares there are under RF control among with howmany shares we are obligated to issue to RF.
Regards.
Yes, SOG but has anyone added up the RF sales in terms of cash since this RNS. Could we go under the 1 million mark? Need an account that can see all trades for the last 2 weeks. I don't have one.
As far as i can see, this line hasn't been used until the last RNS. I think the terms are intentionally ambiguous and are being used interchangeably. IMO, there is no reason to put Aug 25 in there, other than spin.
Agree Potnak that balances don't need to be paid until August 25. That being in full.
However, if we see below there are clauses.
The amount currently owing is greater than 10% of market cap.
Amount currently outstanding is also greater than 1 million.
'The key terms of the Facility:
· RiverFort has committed to providing an Equity Prepayment Facility of up to £5 million.
· The First Deposit of £2 million.
· Two further committed deposits of £0.3 million each on the 3-month and 6-month anniversaries of the First Deposit (the "Further Deposits")
· A fourth deposit, on the 6-month anniversary of the date of the First Deposit, of up to £1.4 million (the "Fourth Deposit") subject to the Customary Conditions (defined below) and the following trading conditions:
a) the maximum amount deposited and outstanding being not greater than 10% of the market capitalisation of the Company at the time of the deposit.
b) the maximum amount drawn and outstanding being not greater than a 15x multiple to the 10-day and 20-day Average Daily Traded Value of the Company's ordinary shares.
c) maximum amount deposited and outstanding being not greater than £1 million prior to the deposit.
· Future deposits, to the balance of up to £1 million (the "Future Deposits"), may be mutually agreed between the Company and RiverFort.
· All deposits will be subject to customary conditions precedent (including sufficient authority to allot shares and grant warrants to the Investors and disapply pre-emption rights, and no material adverse change to the Company or its '
Currently - is the stand out word and August 25" being the maximum term wouldn't be surprised if more shares are issued or RF sell down previous shares held and we still end up owing a substantial amount come Aug 25"
What do you make of the below, MF? This says to me that balances don't need to be paid until Aug next year. I think this line is important.
As announced on 3 August 2023, the Company entered into an Equity Prepayment Facility with RiverFort (the "Facility"). The Company has drawn £2.3 million to date pursuant to the Facility from two prepayment deposits. The Company currently has an outstanding balance of circa £1.3 million under the Facility. Any balances pursuant to the Facility are not due for repayment until August 2025 (the "Maturity Date") and the Company expects to settle all balances by the issuance of Placing Shares prior to the Maturity Date.
Potnak - I don't think Sar have any choice as to when they issue more placement shares to RF. See from initial August RNS:
· If the Investors have disposed of all the Initial Placing Shares or subsequent Placing Shares during the term of the Facility and amounts remain outstanding, the Investors can issue subscription notices to the Company to receive further subscription shares (the "Subscription Shares").
My reading of this is that its RF who decide. Perhaps they are now hoping to be paid in cash instead of having to sell many more very cheap shares?
I think it is important to point out here that, other than IR answering a question about shareholders contributing to a placing. The company hasn't mentioned a placement or any other type of funding. Also, they are not under any obligation to protect RF which would be illegal and insider trading. It is my belief that Sareum has asked RF to clear down their holding and we won't be giving them more shares until we have to, which is Aug 2025. This should clear the way for SP rises. Yes, there will be some who bought recently that might take profit, including me but essentially we will have to got rid of the ball and chain that is RF, at least until next year. I'm not expecting today to be pretty but the MMs could push the price up a little like they did yesterday. I will buy some more today in anticipation of getting a forward-looking statement with a clear plan to progress. As for what will that cost. I honestly don't know.