Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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MCap was previously £2.25m in April 21 at the last restructure. Back then the business was far better positioned and had a more manageable cash burn < £1.5m p.a. They will soon be out of cash again and need your support. Mcap now is bloated at £ 4.2m but market conditions have changed materially in that time. The business now has more shares in issue, still never invoiced a thing in15 years and to put this into perspective even using the April 21 valuation that’s an SP of about 1.5p.
But no matter which way I cut this I can’t even get back to the previous valuation because put simply: where is the value here now?
1. 201 is going nowhere, neglected, and likely superseded, 15 years old and needs reformulating and new patents, the BODs managing of this asset has been a total disaster, still locked in with a worthless agreement with a stateside start up. Meanwhile, 301 off same tech is also doing zero. The new BOD need to come clean with investors, drop THX and put the work and investment in to try and reposition it and connect with a well funded biotech, either that or cut losses and close it down – Valuation Minimal.
2. 18mths ago they should have added more evaluations to ensure more pipeline coming through. By neglecting this area of this business in favour of the labs they now have next to nothing in progress. A total failure IMO and needs the pipeline rebuilding which will take time.
3. 401 was moved to another start up trying to get funding for itself to survive being a Phoenix business so little chance of any value there in next 12 months IMO again Valuation Minimal.
4. CLX - this one has potential value. It needs at least another year development and £400k more investment to try and position it. So, Jam tomorrow for 2025 but won’t be contributing to keep VAL alive short term – Valuation I put at £1m top side.
5. Labs - what a farce, zero paying customers, decision to buy cell samples sitting in freezers from Imogen that couldn't make its business viable even with 32 staff at its height and the current BOD want to chuck more of your cash at it. I put lab assets at £500k top side if they could find a buyer. The lab business itself has ZERO value as it stands as it has no business, is incredibly labour intensive and IMO a total liability until it can break even.
So in all, I calculate about £1.5m of assets and a cash burn requirement of £2.5m to feed directors to maintain lifestyles hence why I can't an EV even anything remotely close to where it is today or was previously.
With a new BOD and a penny raise if they can get it, this remains high risk investment. They are certainly in a worse place than before and a heck of a lot of work will be required to turn this around now, that’s If Adrian pulls it off and can secure the support and financial backing to do so.
If he can’t, it’s the end of the line IMO once the cash runs out in a few weeks time. I genuinely think its touch and go now.
Wish you were wrong Porky but this all seems pretty spot on to me. Would be good to have some kind of update from them.
I have not bothered to read posts as it will just tempt me to respond to nonsense.
We have gone past the stage of deramping to get in cheaper because if the share price drops more they will only be able to raise a lower amount of money which then means you will be hit with another placing soon after. Ideally we want this to be at least 10p so if they did another placing next year it will be the last one given how many compounds we would have at a decent stage by then.
Knowing Porky he does not understand this concept.
Very sensible PM....ignore him.
PM2022
Posts: 2,861
Price: 3.10
Strong Buy
RE: True Enterprise Value (EV)Today 09:37
Nobody asked you to comment. I don't like to waste time with online trolls as they are the lowest of lows. You would not be so big in real life.
ReplyRecommendReport Post
So you do read all the posts then …. You are a funny little chap🤡🤡
WCB, Learn to read first as it is clear I was talking about Porky on this occasion.
I am glad you are still here. Clearly you see plenty of value here. You probably have nothing to do other than post on a stock you are not invested in during your retired days.
Enjoy your day and stop obsessing over me.
Not being funny westcountrybro if your going to take the Micky out of investors you best check your own post history .
WESTCCOUNTRYBO
Posted in: VAL
Posts: 1,621
Price: 32.25
No Opinion
RE: LOI 2.11.21 RNS says the same thing as this SIGNED agreement5 Jan 2022 09:28
Good Morning Novice, Happy New Year to you. As the saying goes…. The price is right… bought back in this morning…….. GLA)
Can’t exactly comment on pm2022 comments about 30p+ no brainier when you was buying at 32p+
As a trader I have done well on this share that is very different to posting multiple times that topping up at 30p++ is a no brainier with no down side and watched it fall to just over 3p while continuing to verbally abuse posters with an opposing viewpoint. As I have posted I am watching and waiting again… along time now….. again clearly the correct decision.
Ahhhh so you’ve made money trading it… of course you have…
But from our side you just seem really annoyed that you got ramped in at 32p+ And lost money.
Will leave you to it. Enjoy.
Ah Groomer , Glad to have cleared that up for you. Have a lovely day at the moment as I say still watching and waiting here
Porky keeps banging on about a penny placing... GDR just did a placing swerve at 57% discount. These massive discounts are becoming regular in small biotechs that cannot attract attention from a Global Corp.
Depends how much you need to raise and what the market cap is. GDR burns lots of cash although they have a product. On the other hand if Valirx can get a decent share price in the next few months then relative to the market it will be inconsequential.
Or should I say they are raising about 4 times the amount of cash that Valirx may need in the next one at roughly the same market cap. Therefore more discounts for more shares that are issued.
'next few months'?
That seems a tacit admission that punters should expect a placing in the Autumn... When PM shows signs of smelling the roses then the average punter should feel the thunder of an incoming placing.
Not before a chit load of news all due.
'a chit load'
Stinking news is bad news = bad for share price. More warnings from the Uber-Ramper.
Mom let’s all stop talking about placing and wait on the update from the board meeting got to keep thinking positively
Are they deliberately holding this back
With a true enterprise value in the region of about £2m to £2.250m as things stand or circa 1.5p to 1.7p i really think Adrian will have his work cut out securing placing support at 1p to raise another £1.5m - still think it will be touch and go frankly.
Forward plans need to be compelling for sure and he really needs those Board appointments sorted.
IMO It's never a good idea keeping someone employed knowing that are being replaced shortly. All that will do is fuel a toxic working environment. My call would be to put both Kevin and Suzy on gardening leave and get the new CEO appointment sorted out.
Also, did anyone bother to reach out to Roger Hu at EUDA?, i see some keep posting here about EUDAs share price for some odd reason, has anyone actually asked him if they are still actually even talking to THX? Likely many don't actually want an answer to that i guess.
Roger Hu is not part of EUDA, he works for an advisory firm (Christensen Advisory). EUDA are one of their clients, so he’s not going to be spilling any beans.
Most SHs would like to know the current standing. FWIW I have reached out to more than one party for info on the current EUDA/TRx situation. Some attempts have been met with radio silence, which is not surprising as it would be commercially sensitive info.
I do not know for certain whether the merger will succeed, but I assume it is still in the running while no statements have been made to the contrary.