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The top 5 iis holders held c 70% before the crash so that left c 42m left between iis below 3% and pis. We have traded way more than 30% since then even given short termers looking for a turn..so my only conclusion is these are being bought and sold time and time again, pass the parcel if you will with no one wanting to get caught holding when the bell rings. The sp has not budged since 30/8 on 33m (23%) traded. Make of that what you will.
I still wonder where all those share are going? I know they are mostly sells....but the mm on the bid is getting loads below 1p...millions.....Someone has to be getting them eventually....
Anyone thought of calling Peter Jones of Dragons Den? Heh heh heh!!
Purely as a matter of interest if I pump in my final final...final investment (jeez how many times have I said that?) i will have reduced my avc from 18 to 4.6ish..I'd have liked to match the 2.822 but funds would not allow. If the Co with 750m (poss) shares in issue by (2025) is not worth £35m by 2025 then I deserve to lose every penny and I will crawl on my knees every day to Mrs B's as an act of penance for my stupidity.
More and more shares being dumped by and I'm guessing the rump of shares held by Artemis, UBS & Parkway Technology (c 6m between them). We certainly look to be headed to last men standing are locked in pis who see a chance of realising some value in the years to come. I cannot see this being a bigger risk than those who pumped in £15-20m back at the IPO stage. Has the climate changed for the worse since 2012/13 given the improvements to Proxima since then? I don't think so given the huge amount of preparatory & subsequent advances Sphere have achieved to get us to this stage. If all that is to be worth peanuts then I'm in deep doo-doo and will accept I have been madly over enthusiastic about a device that could not supercede the 'in situ' product in use since the 1950's. That's progress for you one the UK should be proud of! Effn****/-!**$#**/-":;,!!
Fair play JL.......
A sensible answer from HL..no worries transferred automatically.... come delisting. I have arranged finance to cover the 400%+ dilution I expect come 2024/5 by close of business on the 19/9 which in my particular case puts me into the 7+ fig holding. Of course it's worthless as we all know until the new management kick start P...and give pis a glimmer of hope after 2020. Good money after bad? I don't know but I'm focussing on the potential as no doubt W&E are looking ahead to FDA approvals etc..please somebody has laid the ground work for P over the pond!!!!!? Do they even know of P over there?.... Has anybody bothered to send the data? Jeez I'm gonna work myself up into another fit if I'm not careful.
Not for me thanks JL. Currently my tiny shareholding is, like Mrs B, held in an ISA.. Cannot get hold of Barclays to find out about transferring into a private company but doubt it is a problem, will just lose the ISA umbrella. Might then be able claim against CGT.
Time for a million buy rugs?
Ms B has just been told by HL her shares are worthless!! That was in response to a simple query as to her shares in an isa and would these be transferred to Sphere after delisting? FFS!!
Just checked again at 1120. Can buy now at .63 and sell at .635 That's .0063 and .00635 in real money
Would I lie to you Del ? Mind you it was Barclays/Smart Investor and they are having big problems with their new site. It's rubbish
???? Really?
Can buy at .648 and sell at .666
Morning Del..take your point. What makes the bod think we can sell in the US in 2-4 years time if we cannot sell P in Europe now!? That don't make sense to me...
May be the sales in to Europe forcasts are not good in the current form. If you think about it...if they had sales....why curtail them? Looking to the USA seems to be the focus.
Most of us our very good at a bit of rear- view- mirroring! A natural state of affairs as pis seek answers to the collapse of the Co's sp. We started 2017 in full knowledge of P4 being launched and expected at least a year of operations yet here we are pulling the plug barely 9 months later. That killed the sp! I'm guessing the deal was that W would only cont to support Sphere on the basis of the Co reverting to the private sector. Whatever the nos said 'cash' out ranked any other consideration. So has W seen a better than expected uptake from hospitals since the last report? What has he seen that prompted him & Evans to shove in another £5M with the likelyhood of more spend ahead? You'd thunk they seen the green shoots of recovery in P interest from hospitals. We can only guess as Rencken trotted out the last rns on hospital uptakes in the EGM statement and pis were kept in the dark. What prompted W&E might also have swayed pis to stay on board. Given that Sphere has lost 99.9% of its value while adding 100%+ to its potential leaves investors in a quandry. We are, or rather might be, a going concern worth approx the bods annual salaries. Does that make sense?
While we pis cont to bemoan our fate we should remember that many might lose their jobs at Sphere. Let's hope that any pruning starts at the top and the 'worker bees' will be retained. At the last count we had 70+ staff employed from sales & marketing, production, administration & development to the cleaners.
Particularly the price it's more the dilutions , ie repurchasing the 60,410 shares within 3 years 148 million shares are likely to 635m shares , that with the new funding and 8% roll up and further cash in year three , as I posted earlier re dilution , £1 per share base my £60K would immediately become £19K in year one , £17K in year two and £12K in year 3 after a further £5 m funding , so I'd be looking at buying at least 120k shares it up to 189k , though buying at .007p with my sensible hat on I would have to add to my my loss to my average , though that does not make in a massive price , do I really want to risk another's grand plus with such dilution! Or wait to see if dips , if it dips someone may well Hoover them up before the Bank answers the bloody phone !
Morning cellis.. I think the plan was for P4 to sell enough pancakes for Sphere to progress to P4+ & 5. It didn't work out as rev's never covered even the tech costs. But we kinda knew this yonks ago. It was the strange reluctance of other iis to swerve any further involvement in Proxima. That must have led to the sell out by pis, for if they want out.....? Panic selling by others should never be a concern to you if you still believe in Proxima and W can find the individuals to reboot the company. Rencken got us to the commercial stage. We now need P5 and a bod with vision of at least 5 years out from here. I cannot see any other consideration that makes sense other than to cont with P4 in Europe which is a must imo, we need revs we cannot keep spending without earning!.......so P4+/P5/FDA/US sales simples!!! You mention you won't invest at this price, have you a target price? Bear in mind that come a (YES vote?) on Friday next the sp might perk up a bit with another 7 trading days after the EGM to delisting. Would have preferred delisting to follow the EGM close of business. I see no sense in prolonging this. Investors have had ample time to decide!
Questions , I'm assuming Woodford will do his work , do your own research! as they say ! A few weeks ago I suggested that Sphere haven't been asking the right question or any questions as why ALL those hospitals who have asked for information 55 , and the 44 who have had demonstrations , and the 14 who have been connected to patients why they havent placed a order , I'm wondering if Woodford has done exactly that ! , Sphere have been busy selling , when they should have been listening or asking question , surely if the market wanted a automated Proxima that should have been the target long ago , not that anyone knows what a automate Proxima is , so let's face it how does Woodford suddenly decide that's the way forward , I won't be investing at this price , and it may probably fall lower or many more will make a dash to lose their cash in which case they'll run out off shares to sell , more interest in Sphere now than when there was hope if success
.....Entirely my point! Morning Del & anyone left on the ss Sphere. Semantics really which pis have cottoned on to. At the risk of being tedious would you as an investor, (private or fund manager) not want to invest in an device that is a paradigm shift in bga technology and possible 'game changer' for the business? The words of an eminent Professor and CEO Rencken. As far as I know the device works, is liked by those who have used it and hospitals cont to evaluate Proxima etc....and clearly has a future even if sales are slow to date. Well if we are to believe the bod apparantly not.......yet they seek funds to progress P4-5 and seek entry into the $ BN US Healthcare system. If W&E & small pis can see the advantages of that strategy (last ditch attempt?) how come nobody else has? The private Co argument does not wash with me for we know many funds invest in private start-ups, they did with Sphere. Edwards Life Sciences in 2010 (£2m) Sagentia & Siemens TA GmbH for instance were early stake holders and fund raisers. So why have most of our iis fled the Co given that their stakes in Sphere would be a tiny % of their overall portfolios and might well have stakes in other small private companies? I'll draw my own conclusion on that one!....Perhaps that's it they could afford to take losses against tax or (other dodges) and had no interest in seeing Sphere fulfill it's potential. That might prove a very very expensive mistake and cutting losses now and foregoing any compounding in years to come, have cut and run. So be it. Whatever we may think of WxE they have stood by us (so far) unlike the other rats, frantically swimming ashore. I hope the tides turn and they are washed out to sea.
***Having undertaken market soundings with existing shareholders and potential new investors, interest exists from a number of parties in participating in an equity fundraising, the details of which are being discussed.*** From the rns finance update a little while back... Very cautious in their wording...so that they (The board) can not be accused of an untruth to the market.... Interest did exist from a number of existing parties..(Woodford/Wales) in an equity fund raising......We know who they are.. Potential new investors.........unless they appear in tranche 2 funding...can't see any..... But if you read that rns and compare it with the cancellation rns......it looks like it is about different companies.... Shameful really!!
Don't think one can compare our present status as anything like Sphere at the IPO stage. That was an outright gamble which unravelled badly for early investors. For sure Sphere is a risk now but way less than 6 years ago and strangely enough we might well be better off in a private environment away from the scrutiny of the public arena. Rewards are tangible. Could you say that in 2011/12? Would we be in this pickle if a Placing and OO of 3-4 had been offered? I don't think so. Woodford got what he wanted. That lame ass excuse that money was not available from the markets is imo a load of hogwash. What happened to those who expressed an interest in Sphere 8 wks ago? Why the sudden change of mind? A bit of arm twisting from you know who? The bod had ample opportunity to invest massively in Sphere at all prices down to 6 instead they steadfastly refused to back Proxima and with c1% of the shares became an irrelevance. Serve them right. I was ******** about this year's ago. They should have matched Woodford share for share even if it meant borrowing. At least they might have been able to stand up to him! Now they will unceremoniously be shown the door handing W the Co on a plate.
Just to clarify....there is only £5M for sure...the other £3M is in tranche 2 fund raising......just not quite sure how much of that will be subscriber for...when the market is offering large chunks of shares at less then .070p presently... Regarding the point he makes about the whitewash.......I saw that when the documented was released and considered the possibility of an offer after the passing of resolutions. As was said...it is an outright gamble.....