Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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YE results to be reported 30/4. Will we get a Q1 update then too, and if so can we believe them!!
Yes and to be on target to reach cash flow break even without further funding they needed to be at or close to the 55000 prescriptions target in q4... instead they achieved just half that.
Do you think they are going to achieve the previous target of 330000 Rx in 2024 now, after achieving 77000 RX in 2023?
We don't know exactly how long the cash runway is but the market is betting on it not being very long.
You have not then taken account of revenue for the six months to Dec23.
6p would be a dream and highly unlikely now.
Cash was $13.6m end of June. They then $6.2m + a $20m debt facility and then finished the year with $13.9m. I don't think mgmt shared how much of the debt facility was drawn down but therefore it can assume to be significant.
The market suspects cash is dwindling to zero now and with the mcap at just £12m and debt on the books (despite being pre profit) what comes next is dilution to oblivion - or a cheap buyout at 2p.
It looks like i guessed it right! Unfortunate for the holders, no doubt.
Frankie
Jupiter have gone. The rest I think is just rounding. Milton looks the same. I suppose the insets are just like us. They are locked in.
Frankly I think the only hope here is a trade buyer or AOP step in. 6p would be a dream...
Well, HL, Interactive Investor and AJ Bell are simply custodians of ordinary people's money, so I do not count them (apart from noting an increase in retail positions here).
Fair point that PMI remain unchanged according to that (which surprises me, to be honest). No opinion on Nestle, as I know nothing about their investment management protocols.
I seem to remember PMI finally exiting Woodbois (if memory serves correct) quite a long time after they should have, to my mind (not on my radar now, so no idea in either direction now), a couple of years ago or so. That is another company that....threw up some interesting SP activity at times back then, some might have concluded. But I digress.
If anyone (apart from the BOD of course) is going to make money here, it is surely going to be AOP.
I can easily see another update at some point signalling extreme financial distress and a 'rescue' from AOP....either a loan on terms that might as well mean this goes into admin, as far as other shareholders are concerned, or perhaps an all share cash offer, at a price that also means no other shareholder walks away without a material loss. Sub 1p type of thing.
The longer the radio silence, the worse the reality, IMO.
None of which should have ever happened, nor can be easily explained away either, IMO.
But hey, I could be wrong. At least about the end price here. I am absolutely convinced that I am not wrong insofar as some of the other stuff that has taken this from pounds to not even pennies now. Hey ho. Not my job to investigate. Nor anyone else it seems, lol.
GLA (except the BOD).
No question I´m with you when it comes to the credibility and quality of the STX management.
On the other hand STX updated the significant shareholder today. No one reduced or quit totally but all except AOP, Nestle and Milton added If I´m right.
Why do half of the large investors accumulate?
Sinificant shareholders > 3%, updated on 8/4/24
AOP Health 311,597,265 39.84
Hargreaves Lansdown, stockbrokers (EO) 60,742,305 7.77
Nestle, SA 56,008,541 7.16
Interactive Investor (EO) 42,682,231 5.46
AJ Bell, stockbrokers (EO) 30,778,385 3.94
Premier Miton Investors 29,113,136 3.72
Sinificant shareholders > 3%, updated on 11/3/24
AOP Health 311,597,265 39.84%
Hargreaves Lansdown, stockbrokers (EO) 60,148,898 7.69%
Nestle, SA 56,008,541 7.16%
Interactive Investor (EO) 39,074,656 5.00%
Premier Miton Investors 29,113,136 3.72%
AJ Bell, stockbrokers (EO) 28,085,831 3.59%
Significant shareholders with > 3% before the rx number fiasco
AOP Health 311,597,265 39.84%
Nestle S.A. 56,008,541 7.16%
Hargreaves Lansdown, stockbrokers (EO) 55,066,651 7.04%
Interactive Investor (EO) 35,527,919 4.54%
Jupiter Asset Management 30,477,697 3.90%
Premier Miton Investor 29,113,136 3.72%
AJ Bell, stockbrokers (EO 26,411,783 3.38%
SP couldn’t hold and dropped tells me there would be few more big after hour sells. Typical AIM dodgy business
It astonishes me that anyone would consider this a credible investment whatsoever now.
Even for a punt, you are basically relying on winning the greater fool game here, on the basis that this is a business with an entirely untrustworthy management team. Never mind the highly questionable lack of commercial acumen.
Have any remaining holders tried to contact the company to find out what is happening with that third party, who were apparently responsible for the management team here misleading the market regarding those prescription numbers?
An act which itself was significantly influential in retaining some existing shareholder support, and likely just as influential in luring in new investors as well.
Absolute barge-pole territory IMO, but to each their own.
I watched the latest video call and they said the available cash is sufficient to cover them until probability early next year .
From the latest trading update :
Cash: $13.9m as of 31 December 2023
For the year ended December 31, Shield said it had delivered USD17.5 million in revenue, up nearly three-fold from USD6.2 million in 2022.
28 Sep 2023 RNS:
The Company is also pleased to announce that it has secured a US$20m senior secured debt facility from SWK (the "SWK Financing"), a life science-focused specialty finance company catering for small and mid-sized commercial-stage companies.
NO i have NOT BOUGHT YET as just done some due diligence and i think there funds must be tight .SO I AM HOLDING OF FOR NOW
Was this your 'small position' mate? ;)
09-Apr-24 09:48:01 1.72 1,150,000 Buy* 1.65 1.75 £19.78k
THIS is going to turn soon taking a small postion
No big selling reported yet.