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I have to smile to myself and I hardly ever smile, the Chief Scientific Officer jumps ship and people pretend that this is not a major red flag.Are they utterly stupid? .The reasons given for Cath going are the equivalent of wanting more time with her family.
I await with interest a post from El Great One telling us how wonderful it is for the company that the most respected person and greatest asset has cleared her desk and walked off into the sunset.
TW article today basically, Sbtx is a binary bet. Either Croda comes good or it SBTX runs out of money? dyor
Does Croda have a time limit to decide because the months are flying by without a decision?
Bear, TW is wrong. SA stated last month they had enough cash for 15-16 months and the acquisitions more than pay for the financing facility. From rns 30/11 "Any targets which the Group is interested in purchasing will be accretive from a revenue and earnings perspective, and thus reduce the operating cash burn, with the goal of the Group in the next 12-18 months to becoming a cash generating entity.”
The Modi products have launched, I haven't included that or growing Axis sales.
Oleric, you really are quite the troll aren’t you! She is a full time academic that is doing her job at the university, she’s still staying with the company but stepping back from the CSO role. I’d imagine anything less than 50% of her time would mean she can’t still be the CSO. She is still running SBTX projects at the university and is being retained as Scientific Advisor. She also owns a chunk of shares. As usual you are trying to stir the pot when you’ve already sold your shares.
And in other news ...Optibiotix dumping more shares!
Obviously O'Hara is not expecting the SP of Skin to double anytime soon.
Good news for toyin,muchabout and gang as they will be able to top up at these incredible not to be missed sale prices.
I'm with Elrico here everything looks hunky-dory ..What next I wonder?
Oleric
I don't think it is a case of Opti dumping. Their percentage has been pushed under 13% by the conversion announced on the 12/3/24.
Even though Opti has declared the RNS as "another event" they have sold 800,000 shares as well (24th Nov 23 declared holding 25,740,639, now 24,940,639) which doesn't augur well for the state of their finances if they are having to sell at these prices
Bear, TW also said this before he got out of bed the wrong side. "Tom when he last interviewed SA in his summing up said that "if I was running Skinbio then I would raise 1 million and that would see me through to 2025 when the Croda revenues would kick in and that was only one of the pillars because there is a potential deal for the Oral toothpaste, Psoriasis, Acne and the Medical side could kick in, so lots of upside to outweigh the downside risk of Croda not materialising."
Now I accept the additional costs from the Dermatonics deal have kicked in and until we hear more about the Modi launch and how well it will be promoted, we wont know how soon or how much additional revenue that will generate, but SA did raise £3.25M gross which is triple what Tom considered was needed to tide the company over, so why does he no longer feel that is the case?
Thanks Aqua
I stand corrected.
Is this SP what the El Fantasist and El Fantasist Junior have been calling a "Deep Dive'?
Still the rampers on here are not worried of course!!
In TW's eyes the raise was a form of death spiral I think,which will cause huge harm going forward..???
We have the interim's on Friday, which will be woeful. This could be an opportunity for the board to slash their obscene remuneration.
Completely agree with you Thomas and bear, the excessive remuneration is a huge red flag, and does smack of the death spiral that our CEO is aware of so wants to get max out of the company while he can.
I believe its almost uninvest able currently and expect TW will be out soo if not already.
Well I'm looking forward to the Interims for once Doubting Thomas. The finances are already a known, there will be enough cash to last until Q1-Q2 2025 without deals landing, so the focus will be on; Acne results, Oral Study news, possible Unmesh Modi forecast news, and a Croda update and I expect all to be positive
AS,
I bloody hope so!
I dispair. I can't get a answer from elrico on the 'accretive nature modi could be other than he was right and tw was wrong re the cavi forecasts. Why haven't the company updated the figures. Surely modi has estimates and shared them with sbtx. We know this is how they work through Opti news. You'd think the ceo and cfo would be eager to shut Tw up. Apparently not. Another sign of incompetence.
i understand the share price is in the toilet and there are a lot of ****ed off investors, me included, but can we get a couple of things straight.
1. croda is still there and hasn’t changed until an rns says so. tw can say things like he hopes it comes good, or it’s a binary bet, which is ridiculous as it implies we have croda and nothing else. the fact is, it is still 100% happening until official channels say otherwise.
2. we have a 15-16 month runway of cash as of last month, not including increasing sales of axis, or the just launched modi products being sold right now in six countries with a sales force of over 1200 people. now if soh says he forecasts £1m in revenue in year one for ingredient sales, in one country (india) with a sales force of 175+, what figure would you put on multiple products being sold in six countries (including india) with a sales force of 1200+?
i understand and totally agree mistakes have been made, but the science is still the science and everything is still intact, as difficult as it is, i suggest looking at the facts good and bad rationally and leaving emotion and anger to one side.
Ignore the PR fluff from Lemming, but the reality is we have a crap CEO, who has no support but is still in post. ? The largest shareholders will sell and move on.
two good points toyin, it seems people by nature see a couple of bad things and jump to the conclusion that everything must be bad. this company still has a hell of a lot going for it, but the board have performed poorly recently and so people are becoming worried that this poor performance will infect all areas of the business. it’s understandable really. i’m still a believer but i don’t have the ****nal to defend the management anymore, this has been going on quite a while now and the end of the month reaches the end of the ‘this company will be transformed’ time period. i think this is the time for sa and mr to own up to struggling and either step aside or allow the company a load of extra months of ‘runway’ by halving their salaries until a defined sp and sharing a clear plan. tc, i don’t believe the largest shareholders will sell and move on, they have power and direct access to sa and each other, they could negotiate him out if they wanted.
Sensible post Cliostock, thankyou for your contribution.
Yes SA and the board could seriously decrease their salaries which would give this company a lot more runway.. Its by far the largest cost, and there are plenty of industry comparisons where the CEO and board have just done it automatically without shareholder prompting as they do see success down the road and want to ensure the company gets there. This generates increased investor confidence in the board, and helps keep the share price buoyant.
Jury is out whether SA will actually do this, as far they have only increased remuneration while failing to deliver on sales, despite having really great products.