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love that last para - Reporting is an essential tool for tracking and communicating...
what a load of tosh... get your act together Val !!!
Rightback hope you don't I just had to forward that on to George just got reply
I asked George to read it then judge his self reply was yes that we do read it with care
Unbelievable
Scooby
And the reply was from George I bet he said........ well that statements over 5 years old now.
is that we "care" very much and are about to pull of the deal of the century?
or
we could not "care" less, because we dont like being held to account?
I wonder ?
Rightback, I enjoyed reading your 15:58. I haven't had anything to laugh about today, but I nearly split my sides reading that!
Bankfool
Joking apart there are rules even on the AIM.
But when they’ve added that amount of let’s face it Bol**** its laughable.
What I can’t get my head around is we’ve still had no response what so ever from them since the GM no vote reaction which let’s face it just said give it 6 weeks and we’re skint.
Now even the thickest directors on the block would of put that in the consolidation request before the vote.
No they just assumed we’d all roll over and get our belly’s tickled.
They never took into account how angry and enraged 90% of the shareholder had become and I still think there treating us as worthless nobody’s who will have no say in anything apart from funding there b*** s***
That I can say because no court in the land would believe VAL’s Corporate Social Responsibility Policy.
Rightback, you seem to assume that the BOD will act fairly. The don't have to and they won't, IMHO
The funding model which relied on PI's being duped into buying up shares in the market dumped buy the various funding providers through encouraging jam tomorrow RNS and internet rumours has been stopped. There hasn't been a serious backer or partner for VAL and there won't be until VAL 'mark 1' is wound up and VAL 'mark 2' is up and running.
The most important thing for VAL now, having loaded the gun for PI's to shoot themselves with, is to cease trading as soon as they have taken all the money left. If they leave anything it becomes a nightmare to return pennies to shareholders. Best thing for them is to run this till there is absolutely nothing which makes winding up VAL much easier.
VAL exist today because it is part of the strategy required to formally and legal cease trading. Running out of money and going bust is a legitimate way of getting rid of all the moaning PI's. I imagine the RNS coming soon reads something like this.
1 We have been looking for funding, exhausted every option and can't refinance the business.
2 We gave you the opportunity to allow us to consolidate the shares 125 for 1. Without this the offer price for new placement shares priced to attract funding would have to be below par value and that is not allowed by AIM rules
3 We told you we were going to run out of funds in 6 weeks, well we have, surprise surprise!
4 The BOD have therefore concluded that the only course of action is (various option here none involving existing PI's with any stake in the business or future profits from compounds)
5 We are very sad but thanks for all the money you have indirectly spent buying the shares in the open market because without you friends we could never have kept on getting the funding from our backers who then sold the shares into the market which made them a profit when fees were taken into account for you nice people gobbled them up like blotted goldfish in a pond.
6 Goodbye and we hope to see you as new investors in the secondhand shares of the company (if it's a PLC) who now own what you used to.
This is my opinion as to what is likely to happen I don't know anything, its just a wild guess. There may be someone out there who wants to fund VAL and take on all the problems and legacy issues with shareholders and share the profits with them. But why would they when they can legally avoid this by simply allowing VAL to fail and buying up the assets after they are bust?
AIMHO and DYOR
T&C have you read points four and five of the Company Insolvency act?
The BoD imo, wont want this to crash, any more than the PI's?
Now, as to whether it was poor management or bad planning or even great planning (to suit whomever), it wont look good on their resume for the next one? will it?
And IF, the insolvency Co agree, dont like what they find, there could be bans for any issues that might come to light? Who knows.
But imo, the mark ONE Val needs a bloody good make-over and not the attempted creation of a mark two? Like you say, cash is tight, probably running on the fumes of fumes, but! There is always "proposals" "offers" "alternatives" to consider, providing the the info given to date about the FOUR compounds, is factual and positive (as it always has been) even if not by RNS on occasion ?
Lets see what March brings ? Eh... before we all queue up at Beachy Head and take the quick route to the sand!
T&C
George wont play fair he's not played fair from the off but its only now that people are starting to realise it hence the No vote.
Were now at a stand off imho, yes March will be fun or maybe not lets wait and see.
It’s like legal robbery, we’ve been mislead by continuous Jam tomorrow promises and predictions , the balance sheet has been eroded to support the Directors lifestyles and the interests of shareholders have been eroded for the benefit of Directors. The commercial prospects of the business has been secondary to the salaries of the Directors who have demonstrated they are not capable of running a Public Company in the interests of shareholders.
If the company fails to bring in funding/support through other means, that is evidence to me that the ‘products’ do not have the potential value we’ve continually been led to believe, and the Board has been lying to us.
I’m not sure they fully appreciate the impact this has had on shareholders and their families. JG (RIP) is not the only case; there are many more, whom the Board have never dealt with.
Rather than getting rid of moaning shareholders, Administration will mean we no longer have any more to lose. At this point, I believe there are many who will devote every spare minute to ensuring the Board Members are personally held to account, until they have lost everything they have.
Now is the time, for them to bring in independent verification/financial backing and prove to us that the products are what they’ve told us all along.
ArthurCrown, VAL201 has been in clinical trials for 7 years and we have seen nothing concrete apart from odd rns(s) assuring us the trials going well and doing endless of placings. It is time the BOD need to show the truth how good VAL201 is also the truth how much they believe and care about the company. I would urge everyone not to allow them to do another consolidation, even they come up with a plan it is still no good, that plan should have been in place long time ago. It is time for them to show the shareholders they do care, most people do not believe them anymore. Be strong this time and don't fall for it like few years ago.
Personally, I believe they have nothing to show in short term and that was why they wanted to do consolidation otherwise they could release whatever the good news is then raise funds after that. Since May last year they said they needed money for short term and 8 months later is still needing money for short term. Stand your ground.
Agreed y1970......we will
I've said it a few times on here recently, but I really do doubt that they have any product of note.
small trials (apparently they have taken place), and a number of peer? reviews (probably paid their mates to do them), but nothing concrete... It wouldn't surprise me if they have been dishing out paracetamol...no faith with these 5h1tebags at all...
Sounds like the Bernie Madoff playbook
he, of course, famously fessed up and went to prison.....................
fessed or grassed, makes no odds here lol :)
i Valju hope today finds you well. Have yourself or Fred heard anything back from Valirx this last week? its been deafening silence and it sounds as if Val or ignores any Pis emails. Many thanks. I see K2p is posting as a 3rd person on ad vfn , absolute contempt for pis and doesn't seem worried at all. Got a funny feeling something dodgy is going on behind the scenes and these utter scumbags will do nicely out of all this. Disgusting.
Sorry on a train, horrendous grammar!
Hi H2H
Hope to have a decent update between now and Monday (at latest)?
Things moving forward nicely, but, every step, being scrutinised, so that we dont trip over our enthusiasm and ensure we get it right!
:)
Thanks Valju. Yourself and the rest of the action group well done. Not all Heroes wear capes!!!
Good to hear VaLJU. Thanks.