Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Timelines:
11th November 2019 it was announced by the company that Tissue Regenix was in potential breach of their Covenants.
14th November 2019 Tissue Regenix announced a revised agreement with MidCap
$5.5m repaid immediately to MidCap
$2m Tranche 1 to remain in place.
$5.5m to be added to Tranche 2 which is now $10.5m ( $5.5m + $5m )
Tranche 3 $2.5m remains in place.
MidCap suspend testing of financial covenants until 30th June 2020
Repayment of the outstanding term loan will begin on 1st July 2020 over 48 months.
Drawdown of these tranches is now subject to MidCap’s discretion and satisfactory recapitalisation of the Company at that time (Cost cutting plan then enforce by trx saving approximately 1m per year). TRX is cash generating, it has IP worth around £40m in a fire-sale. The last placing at around 10p was to fund the takeover of CellRight in America, this cost $30m. If you take time to research a company you will see how lazy some posters can be #agenda #troll !
Of course you can compare them - they both have no cash and both need to be refinanced in the next 2 months or they will both go into administration - those are facts, not my opinion lol - Your opinion as opposed to fact is that finance won't be hard to arrange - hopefully you are right as I am invested here as well - but facts are facts
You can't compare the two company's. SXX are at the beginning of building a massive plant that's costs billions. TRX is producing and ready to massively increase production to keep up with demand. Yes they need finance which imo won't be hard to arrange.
I understand your point about SXX - the key similarity is both have no cash and need to be re-financed or will go into administration - SXX received a low bid which preserved some shareholder value - let's see what happens with TRX - the value here is more proven but the company has managed it's cash poorly over the last 3 years and has sleepwalked into the difficult position it now finds itself. If it can overcome this without wiping out the shareholders then there is clearly massive value here.
Cyber attacks happen everyday in some companies. It could have been one or the employees let go, or it could have been external. The company concluded all is well and production is back up. My focus is more on the value in this company. Going back a month some excellent work was carried out on what the company would be worth in a fire-sale. I think the total value was around 4p per share. This offers further security to anyone buying at todays price sub 1p. Shareholders are now challenging the Board for an update on Tranche2 funding. Once confirmed this will allow Tissue Regenix to build much needed clean rooms in the 2nd warehouse and also employ much needed skilled labour so the 3rd shift can be added. We also know that Orthopure XT should launch anytime soon. This is a fantastic product and will add further incremental sales once launched. Anyone looking to invest in a company with spectacular products and growth prospects should seriously consider Tissue Regenix. I expect to see II's buying stock as soon as we cross their MCAP threshold. DYOR
Patents exist for dCell products, some licensed to the tissue bank in Rostock.
That said, the 2018 Annual Report states:
"The BioRinse portfolio remains protected by know-how and we continue to register trademarks for all relevant logos and trade names."
IMO criminals were trying to access the 'know-how' during the cyber security incident recently, as only the San Antonio I.T systems was attacked, but not (apparently) UK.
Not sure if we will get any further update on how this issue was put to bed.
https://twitter.com/johnhar49505586/status/1231232917101326337?s=21
You've misunderstood my comment, as has Sandhopper. What I meant was that I hope I don't lose money like I did with Sirius. That is literally all I meant by it.
Anyone trying to compare Tissue Regenix to SIRUS or other mining companies don't understand fully the business. TRX have locked down IP with dCELL®. They also have a strong range of FDA approved lines in huge demand. They have ongoing clinical studies and a product about to launch (MDR has delayed this). They are ALREADY earning revenues with break even & moving into profit forecasted by just next year. Loan needed relatively small & already agreed just awaiting tranche 2 release by Midcap. Tissue Regenix is quite unique and with uncertainty around Mining and Oil stocks and huge concern around Corronavirus, TRX offers allot ! There is also a wildcard chance of a cheeky bid from a competitor. With a MCAP of £11m, they spend $30m+ on their last acquisition, so there is 100% value in this company for any competitor looking. This is an exciting share which will move quickly on the right news.
Sirius - Tissue Regenix is akin to Chalk - Cheese. TRX has a gigantic market, is already producing the product(s) wanted, so just need to increase production to meet demand.
Bought a few more at lunchtime. Just hoping this doesn't turn out to be a busted flush like Sirius did!