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Front page news in Business section of DT. "Woodford apologises to investors!" Worth a read.
Morning cellis....no not me. I added a few more at 0.60 and as per usual five mins later they fell to 0.45 or something. Bloody typical! My inebriated calcs re avc had me at 5 ish...redoing the nos while sober put me at 7 so miles out of the money, mind you hugely better had i done nothing! rugs mentioned to me there's an interesting post on ADVN by dusseldorf re Sphere. Next twitchy moment is vote result which will be known by the bod by now so perhaps an rns this morning? It might be odds on to pass but as my father used to say "it might be 10/1 but never forget the 1." I'm out of my stocks 'cept this bloody one and if this goes private might escape any Trump v Bing Bong Jong or whatever the twerp is called World War 3! The EGM should give holders a clearer picture of where the Co is going and who will be managing our future. W&E have had ample time to sort out Rencks successor(s) i think that's the least we can expect and would be bullish for Sphere. A renewed sense of urgency is required, we have drifted for far too long even with the NHS purchasing constraints. More GO-GO...less NO-NO if you will. All my comments on Sphere are predicated on Proxima being wanted and commercially viable. If hospitals won't buy or do not see P as a worthwhile addition to their inventories....well so be it. End of. As of yesterday, as far as I know no hospital has said "it's a piece of junk I'm passing." Perhaps more like "we like it but not just yet?" Or variants of....but here's the thing, hospital evaluations have been going on for at least 9 months now so purchase delays could be about to end? Cutting back on P4 suggests no but W saw something. I have front run the vote...praying that holders will not vote to destroy the Co in a fit of pique. Sensible heads will prevail I'm sure. There should be a fall back position in the event of a NO vote but it won't be pretty!
Was that you snapping up all those shares , I was worried about holding shares in the wake of , Korea , I'm expecting Trump getting a 9/11 or Thanksgiving Day present from Kim , bailed out , I made a choice early last year on the price of oil , that cost me money , gut feeling worked on Sphere but was still a loser , and selling my other shares yesterday cost me nothing ie broke even , but they were nearly up 20% today ! May look at buying to a Traded Option on the Footsie if I'm correct there may be none alive to pay me out , which about sums up my luck
Renken would have to go and most of the current board, univestable otherwise imho.
Afternoon guys there will be changes! The previous management cannot survive a 99% fall in the companies value and remain at their posts. Even given that rewards for failure are endemic in British business I think on this occasion reality will bite! The only way Rencken can stay on is if he's set to announce a rush of orders re'cd in the last week...heh heh heh!! Sorry a poor joke.... No he's toast and I'm sure...ish he'll resign at the EGM. Notice how the trades stopped dead at 12.30......?
Very similar view here.......although the document does lean towards changes....I cant convince myself that it will be a clear out. No point if no changes.......
These shares are a bargain at this price but then thinking with this management and BoD who were telling how well it was going just months ago I am managing to resist. Perhaps if new improved management were announced, I could be tempted to a punt alongside Woodford.
***Selling goes on an on in sizeable lumps. I have to say I'm surprised the price is going this low.*** I am actually surprised you are surprised CC....:-) My reading would be that after the initial 85% fall many were buying expecting a bounce...a short trade..but it never happened...so they are reducing losses just in case.... I haven't bought any more but still watching...
This one's joining fitbug. And the sooner the better.
The last rush to vote by 12.00 noon?
Shorters?
Selling goes on an on in sizeable lumps. I have to say I'm surprised the price is going this low.
Think all the 0.60's are buys this morning as I put some more in at this price.
Morning Del...pity they couldn't have wrapped this up at the EGM! So the final deathrows will last to the 19th. An ignominious end to a once great prospect of Britain's technology future.....as a quoted Co I hasten to add! So the fat lady has a verse to sing before she takes her final bows at the Royal Opera House, her understudy limbering up for a provincial debut in a far off county town. Two matches to play every chance of reaching Russia if we beat Georgia then a draw will do v RoI for second. Two wins and who knows?...
Coming near the end now as a public quoted company. Wales did well last night JL...
Sphere. Round and round she goes and down. This and fitbug. Wasters.
Agreed WB....Lots of potential savings but will W do it? A good money manager does not necessarily make a good CEO/ entrepeneur. I hope he has one lined up!
It's tough but people will lose their jobs. Clearly, Renken should go and quite a few others if the savings are to be made. The BoD could be trimmed drastically Gregory and Mahle have been there throughout the debacle and the vp of business development clearly hasn't developed any business in all the years they've been there. Cutting these expensive, non-value add roles could make a big contribution to the savings leaving the workers time to deliver.
Good team bad product...bad team good product....or as the other WB says..." I like to invest in companies that can be run by a monkey........ because sooner or later i know it will be."
Certainly agree there will be little if any move up should the vote carry. I have written this down to zero for the remainder of its life as a plc on Aim. Thereafter were in the hands of W and a new team to make Sphere the Co we once thought it could be. See no reason why this cannot be accomplished with the right team and the will to succeed. Pretty sure W&E don't want to be associated with another bust. Putting more money in now is only worth doing if you can get your avc down to sub 5 and you believe that W will look after your interests and this is crucial that if we ever re-list the co will be worth multiples of your avc. That's taking a lot on trust but what choice do you have other than to sell out. We might get some more news once the vote is out of the way as to how Proxima has been doing since the last update or at the least some positives going forward? So let's look at the positives. We know P is an excellent product that improves patient outcomes and is liked & a time saver for nurses who have used it. The market for P is large and growing annually at c 3-5% I'd also imagine there is a lot of goodwill for P. We know it's cost effective and is in use in Europe as of now and as long as we can continue to supply P..... who knows?The main drawback is continued funding required for perhaps another 2-5 years depending on how soon lactate & auto P5 can be up and running and get FDA approval. Other than that negative I see few others that could not be sorted in the day to day running of Sphere (a distribution deal Stateside) for instance. Surprises good or bad are part and parcel of the day to day running of any business. So do you think the positives outweigh the negatives? Without info were not privileged to its too hard to call. But I'd just side on the plusses and hope for the best! Look at it this way if there had been an OO and placing of say 500m @ 2-4 which we kinda expected, would we be in this pickle now? I doubt it. W's decision for good or bad has cratered the Co. I hope he has made the right call!
Can't help thinking if the old adage, better to invest in a good team with a bad product than a bad team with a good product. It's pretty unarguable that this is a bad team however good the Proxima is.
Thanks cellis, I wish you the best of luck with your investments. Let's see what happens kind of surprised the sp has halted it's fall although the bid is getting slightly lower. I'm guessing everything will be passed and we'll have some more information about it.
There's nothing I can say , John and Del , as John said throwing good money after bad it's stupid , if Woodford manages to succeed , you'll probably get your money back and even make money ,so it's not worth throwing more money in , , but to be honest Woodford is doing exactly the same thing , just can't see it working , £70m down the drain to virtually start over again , I'm not interested anymore, yes I'll keep watching and hoping for you and others it works out , it's torn the heart out of investing for me , was Proxima a good thing , well the It didn't get the yes vote., I was lucky to get out when I did , 6.55p ---- Kim Yung prat head could make any decision irrelevant, will China have the common sense or balls to stop him !
Well JL...I have gone from shock to acceptance...to will I buy in the market? Will I buy the CPS? To...I really cant be bothered with it anymore..... I will continue to monitor the situation for the remainder of time that it stays on the AIM. The longer I look at this car crash...the more I feel non committal....Not sure how much I trust the concert party to be honest... I have been calculating around 750 Million more shares in issue over the next few years.... I think a yes vote this Friday could be a positive and paradoxically cause a further sell off, as it becomes clear there is not much upward movement from here....
Just looked in....