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Looks like someone building a position lots of 250k buys.
Still waiting on response from management to reply to my e-mail.
I agree Shandy about Gregs "coyness" regarding buying shares - despite his substantial package.
He talks a great story but he would be infinitely more credible if he bought a substantial number of shares-which clearly provide much confidence in our ability to reach targets set & survival.The only reason for him not buying ( or Santosh) is that what they say is not necessarily what they expect the outcomes to be.STX is clearly in the "not for widows & orphans" camp but their lack of buying means it is further down the line than that .
I think you'll find the audited annual report is delayed to next week - yes that will be a bit more illuminating.
Um, maybe cause the audited financials confirm it ? Lol. No one is going to sell here. Just manipulating going on here to steal peoples shares.
But every prediction and promise Greg has made has been broken. Why is it true this time?
Learned to be invested in Shield on the hard way
I sold all my 1650000 shares for 1,25 on 30/3/24 with a big substiancial loss.
But now I´ve at least a perspective to reduce my losses.
I say goodbye to all long term investors, good luck !
For me Greg was the final straw with the Texas report. Unbelieveable!
Greg probably thinks Europeans are brain amputees that he can sell nonsense to anyone.
Nobody can suspend 3 months of prior authorizations for sometimes vital medications because a position is not occupied.
Here are information about Medicaid in Texas from the PBM, there are phone numbers on the last pages, feel free to ask about delays of Medicaid PA´s in Texas.
https://oig.hhs.texas.gov/sites/default/files/documents/reports/pbm-informational-report-final-9-30-2019.pdf
It was the first and last time I bought an AIM share.
Now I hope for better times with Nasdaq TGTX. The top product started one year later as Accrufer in the US but prescription growing, reaching the profit zone is total different to pound grave Shield.
Nice weekend to all but not for the BoD of Shield
Frank
Thanks.
I think the key point they need to answer is are they in breach of the minimum revenue covenants for the trailing 4 quarters to Q1'24 (which, based on the numbers they have provided, I believe they are), if so by how much and will they be raising 2x that amount as is stipulated in their agreement with SWK when a breach occurs - if not why not.
Will be interesting to hear what they say
Hi JAllis,
Yes I have found the information and read it. So I have fired an e-mail to the company to clarify their position as they repeatedly confirmed that they do not need to raise.
Riz - did you have a read of what I posted in response to your request for the source of min rev covenants? what are your thoughts on that?
Riz - did you have a read of what I posted in response to your request for the source of min rev covenants? what are your thoughts on that?
LMAO. It’s not working, bud.
The Texas issue was classic smokes and mirrors by Greg. To use it as the reason for poor Q1 2024 sales is deluded. I went back and looked at their slide (yes their own slide) and Greg's words didn't seem to fit with the data they showed. So a person left in Texas that impacted Medicaid sales. In Q4 2023 total Texas sales were 9,400 and in Q1 2024 they dropped to 6,700, a total drop of roughly 2,700 or 28%.
This drop incidentally was not just due to Medicaid, the graph shows the non-Medicaid sales also dropped, although Greg ignored this.
So if Texas didn't have an issue sales would have been say 3k higher and total sales in period would have increased from 28,800 to 31,800. So the increase percentage quart to quarter would have increased from the actual 1% to c 11%.
As we were expecting c50% increases they are still well off.
The breakeven in Q2 2025 are just words. As has previously been mentioned if the CEO had any confidence in his own words he'll be buying shares at these silly prices - he earns well over £500k a year.
Many want cheaper shares. Can’t blame them. They will be the biggest cheerleaders soon after they rob others of their shares
Did you just ignore the whole cash flow positive next year part?
@smythsmoneybox
The reason to disappear from this chat room is having to deal with people like you . Constant negativity . Makes one wonder why you are here in first place if you feel so strongly about how bad this company is . LSE chat rooms are just too toxic
At this stage prescriptions should have been at 60k followed by about 80k in q2 - if you think Texas explains that, fine.
LMAO! We know numbers were off cause of Texas and will be fixed. You know it. Stop trying to steal peoples shares
What does the longterm outlook look like?
It's very different from a realists perspective
HarChris has hit the bail on the head once again.
RIZ29, we all know your game, many like you have come before then suddenly dissappear. You can ramp to the cow's come but it doesn't change the facts. SWK are the king makers here, not forgetting that AOP might be up to something.
A 1% rise in prescriptions Q on Q isn't going to cut it.
Just curious… is anyone really dumb enough to sell at these levels with what projections and the long term outlook looks like?
Greg had two choices the other day - be brutally honest about the chances of being cash positive by H2 2025 without further resources and see the share price implode / remain at 1p max or go with the narrative that yes they have enough capital to reach cash positivity by H2 2025 and hope the market buys it.
The latter is, technically, true. They do have enough but what wasn't shared was the monumental improvement that would need to be seen quarter on quarter from here to mid 2025 i both prescriptions written and net price. I think the chances are probably 1% but as long as it's feasible he has a get out clause by saying that was the hope but events haven't unfolded the way we hoped and so here's the placing - at some point later in 2024.
Just for clarity, the $17.5m included $4.4m of money as part of the money given to STX to 'purchase' 45% of all future revenues. This was received in Q1 2023.
This is a one off payment that will not be repeated. As STX state revenues from sales were $13.1m ($11.6m from US and $1.5m from Europe).
So without this one off payment the covenant would have been breached.
Currently Quarterly revs are $4m in the US with maybe $0.5m from other sources.
In Q3 2024 the 12 month revenues jump from $16.5m to $22.5m, a jump of $6m in the quarter. This equates to an extra (not a total) sales of 40k prescriptions at $150 each. This is a big ask based on the last 2 quarters total sales have been 28k in each.
Already Q3 looks challenging. We are of course already in Q2 so not long to wait.
Https://youtu.be/fgeTZvm6XRc?si=ZYV_9krDVws3wWvX
Over and over confirmed they have enough capital to go into cash positive by H2 2025
How badly do you want our shares? Just curious…
Riz - read the RNS of the 28/9/23 (titled 'Shield Therapeutics - $20m secured debt facility &proposed equity raise'), ive copied the relevant section below note that the minimum revenue covenants detailed below were renegotiated lower (albeit are still substantial)- the revised figures are in the RNS of the 30/4/24
Additional details on the SWK Financing
Shield has entered into a Loan Agreement in connection with the SWK Financing pursuant to which Shield has, conditional inter alia on Shield repaying the Existing AOP Loan and lien release on IP rights and satisfaction of other customary conditions precedent for a transaction of this nature, obtained a commitment from SWK to fund a US$20m term loan with a maturity date of 28 September 2028. The first nine quarters following closing will be interest only periods and the interest rate will accrue interest at an initial margin of 9.25% plus the greater of: i) 3-Month CME Term SOFR ("SOFR"); and ii) 5.0%. Interest will be calculated on the basis of a 360-day year and paid in cash with the first payment due in Q4 2023. Shield is required to pay SWK a 1.0% origination fee on the value of the term loan and a final payment fee of 6.0%. Post the interest only period of nine quarters, quarterly payments of US$1m will be due for capital repayment. The SWK Financing will be secured by way of perfected first-lien interest in substantially all existing and future assets, including intellectual property, subject to the release of the AOP's lien on IP rights in connection with the Existing AOP Loan. Financial covenants apply with minimum revenue targets and minimum liquidity of no less than the greater of i) trailing one quarter of cash burn or ii) US$2.5m. Warrants over 8,910,540 new Ordinary Shares will be issued to SWK with an expiration date of six years after closing and a strike price of 11.1p per Ordinary Share. The table below details the minimum revenue covenants:
Trailing Four Fiscal Quarters (i.e., 12 months) Ended - Minimum Group Revenue
Q3'23 - US$8.5m
Q4'23 - US$14.5m
Q1'24 - US$22.5m
Q2'24 - US$31.5m
Q3'24 - US$38.9m
Q4'24 and each fiscal quarter thereafter -US$45.7m
In the event of the breach of a minimum revenue covenant, Shield can avoid default by raising equity or subordinate capital equal to, or greater than, 200% of the breach. Shield has a period of 40 days from the date of breach to evidence to SWK the raising of sufficient capital to cure such breach. Shield can utilise this cure route three times over the life of the facility and not more than twice in any 12-month period.
The SWK Financing is not conditional on completion of the Equity Fundraising.