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Just spoken to Andrew Guttmann at Shard Capital.
He wants to reassure shareholders that Valirx have cash until the end of the year and talk of a placing at 1p is very pessimistic, he seemed pretty confident that income from the lab would have come in by then and also TheoremRx deal.
Obviously he can’t guarantee that but he did seem confident.
He is happy to speak with shareholders if they wish.
Cheers Sean. Update appreciated
Sean how many shares In Valirx does Andrew hold ?.
Thank you Sean.
I WILL BE BUYING MORE THIS WEEK!
This is over reaction!
Well here we are at 1.8p!
The requisition has achieved nothing as we now don’t have no ceo that knew the Ip inside out
👏👏👏👏👏
It’s not a football substitute, whoever mastered the requisition needs their heads examining as IP needs relationships developed over 5 years.
Idiots! Very angry
Are you angry enough to get a group holding 5% of the shares to request an EGM and get the incomers ejected and Suzy reinstated as CEO?
Yes, because she knows the IP and we have to start again and 6 months or more with someone new with no news.
Nolungu, cmon !
Then you should go for it... shareholder apathy destroys wealth. Good luck to you...
People who think the requisition is the cause of the current SP are stupid.
Not really. Stella was forced to resign and then Suzy was forced to resign to save others and the remaining ones were at massive risk.
This brings in new investors and limits the influence of the private Telegram group which without doubt has been a problem for them. New investors make money and will be happy.
Just an opinion but it makes sense and why not. Far from being stupid but I would call it very naive to think otherwise. I felt the RNS lacked detailed information regarding revenue, 201, plans to generate revenue etc and was more focussed on the negatives.
Pm,
Stella was not forced to resign . She didn’t buy shares and that didn’t give confidence to share holders. She did in the end but she also knew the 201 deal is dead company will not survive in future so she DID FCked off on gone.
Suzy DILLy , she is the head of sneak who also saw there is no deal coming trough from 201 . She also knew she will be the last one in lab to close the doors and put sign called I FKED up this business and she kind of made smart move and FKED off .
Why the FCk she is there I don’t know . So stop been stupid and still trying to ramp this board when the share price are bellow 2p .
You bag of 💩 just stop ramping .
I know what was suggested in private meetings from people I spoke to. So don't tell me what I know and don't know.
Haha 😂 a private meeting ??? Oh yes so we are going to get 100m from 201 but 🤫 just dream PM .
What a lot of 💩💩💩👎🏼👎🏼
disagree ironmighty .
the requisition notice ****ed it for the shareholders who weren't involved.
the telegram guys just went ahead giving it bertie big *******s and here we are at 1.90.. really worked didn't it !!!
and now your all sat here whinging about the sp.. if you thought kicking out yr ceo wasn't going to effect anything then jeez!!. plus you've added 2 more overheads to a failing turn over lol.. .. et all....you've now got your agm date so i suggest you attend it and have your rant at the bod face to face .. . for what it's worth the rns was appallingly done and negative and the reaction was overdone ..
some peeps today buying will.do very well if this bounces tomorrow ..
pj
I forgot that the bod were doing a great job before then and the SP was flying, my bad.
I don’t take joy in todays SP revaluation. Frankly, disappointed by the number companies on AIM that treat Investors with such disdain. Things need to change in the AIM market per sae to restore confidence but it is what it is.
Regarding this car crash of a situation, these are my thoughts for what its worth:-
Frankly, IMO Adrian messed up by withdrawing the requisition notice issued on 4/3 as we would be rid of both Martin and Kevin Cox by now instead of still having these remain at cost to the business. They need to be gone. He now needs to finally sort this.
Further, it’s Never a good idea to keep people in a post once they know they are going. It is better to put them on gardening leave. Nothing worse than a woman scorned. I would call time on the CEO position now. Not sure if atmosphere is toxic over there but draw a line under it. Better to cut costs and cut further business reputational damage then keep someone that will likely be adding zero value, focussing on their next move and potentially causing more issues or further damage to Shareholder value by remaining.
Adrian needs to get the new board in situ ideally for that AGM on the 20th June and present forward plans. Those plans IMO need to include a reduction in the cost base to a more manageable level back to < £350k per quarter. Clear plan to get Labs to break even or move back to outsourcing and a plan to drive more new evaluations.
IMO it will be a massive struggle to get someone good to run the company with its current financial position. Nobody is going to join with only a few weeks cash left and cash will run out sooner with the additional overheads due to the delays in making the hard decisions that are overdue. So Adrian will need to get a move on to fix this and raise if he can secure support.
I stand by my calculation that EV is 1.5p max based on where they are today, Todays adjustment is correct IMO, the current market cap has been bloated for a while now. I expect a raise at 1p to raise £1.5m but that will be touch and go IMO but if Adrian can demonstrate a solid forward plan at the AGM from H2 1/7 I still think there is hope.
I posted before that the position will get worse here before it gets better. IF the forward plans presented at the AGM are not convincing enough then they really run a real danger that a raise wont get supported and its administration. That’s my opinion FWIW.
Good luck, lets see what they have to say at the AGM.
Pork’s
Adrian needs to leave. Like it or not the current BOD is in charge, they hold the contacts and determine where this goes. Sacking them all does not work. He led the requisition with one or two others so having him on the board against all of them creates a toxic environment where either we lose or they all get sacked which again puts us in a difficult position.
We need another shareholder on the board who can work with the current guys to build value. Anyone else want to put themselves forward please do so?
I read the RNS again nothing that worries me on it but the board changes created this instability.
What’s the expression over at the other forum? This is now for “lemmings and mushrooms only”
Of course you will get a few traders trying to get a dead cat bounce, the blind faith averaging down yet again in blind hope but there is actually next to nothing left here of any value, the remaining cash is being burnt down quickly and all that will happen is that those close to the action will try and pump this ahead of the next placings they can get it away at slightly better discounted terms.
The placing is bolted on unless they fail to get support or Suzy signs up for death spiral finance
How many times have some of you played this game before? Historically, I would have said it’s a gamble, now it’s more akin to putting cash into a fruit machine that is empty and any winning combinations have been disabled to stop any payouts.
BTW, the cash bulk of expenses here are admin salary salary costs. These tend to be at month end so a cash count mid month won’t include that months costs.
The staff cost also has to be higher due to the extra appointments and you also have to take into account pay off and settlements for those leaving
I am convinced @PM2022 is married or closely related to one of the board. To suggest removing Adrian and maintaining the status quo is absolutely ridiculous
Porky....I'm not entering into any more dialogue with you as its futile.....but your last post is all opinion....Its obvious that the major spend is for paying for manpower.
You suspect PM is associated with Val...wheres your proof ....
I honestly believe you have a grudge against the company...
That's my lot on the subject
Sorry Fred, but Porky has been 100% correct based on facts. Your postings are, as always, based on hope.
£1.1m
Not enough. They are already putting in plans for the next raise. 1.0p and below if they get one away at all. The one after that 0.50. Get the drift?
There are only prospects of further placings. These silly cooperations with Universities and such like bring in no cash. Cash comes from issuing shares. A Fool and his Money is easily parted. I am sure there are fools who will buy into the next before the next dilution.
AVOID