Plethora Solutions Holdings Plc Share Price (PLE)

I had missed that the Phase III bioequivalence study (CTR20242364: Zezheng Biotechnology), where home-grown product was compared directly with Recordati-supplied Fortacin, was completed last summer. Same PI as the Plethora-sponsored study- Dr Hui has been a busy boy. NDA status unknown.

If approved, it would be a Class 3 product (domestic copy of a foreign drug) rather than a true generic, although I'm sure that Fosun would consider it competing in order to reduce the royalty on Senstend, if ever approved. Zezheng is a subsidiary of the CSPC Group, not the minnow I once took it to be.

Can two branded products make money in what is a very modest market? And (in contrast to Recordati), are Fosun and CSPC willing to put up the heavy promo essential to build a market de novo? Domestic product should offer significant cost advantages over an imported version.

Great work bignose, thank you for keeping us all updated.

You can also mention that some shareholders would be happy to help, supply refreshments/ offer foot massages, as these global partnership discussions have been ongoing for 10 years so it must be a slog for all involved!!

Continued...

I also now read that the company wants to propose the adoption of an RSU Scheme, which is with the purpose of recognising and rewarding certain eligible participants.

I am at a loss as to rewarding who and for what. The FDA NDA submission is years behind schedule with still no end in sight. China is now over 3 years behind and still no sign of approval (you do comment about potential, but the same comment was given about Europe and yet it has been nothing other than a disappointment). Orient appears to have stopped in its tracks and the out licensing for certain countries in LATAM, Asia Pacific (including Australia), South Africa and the Middle East region which had supposedly entered into nonbinding heads of terms in 2014 have made little progress up to today.

Given that long-term supporting shareholders have lost so much of their investment in the last 14 years, it is quite clear that all the company statements in the past annual/half yearly reports about how excited the BOD is and how they thank shareholders for their support, actually means very little. Surely the RSU scheme, with consideration of shareholder losses, could have been announced at the end of the year after the supposed rerate and the China income stream is in place rather than just give shareholders a slap in the face.

Yes, I am disgruntled, which I make no apologies for since I feel the company has let shareholders down with the constant jam tomorrow statements.

Regards

Mr BigNose

Good morning Jamie.

Thank you for the response to my email, which provides a little positivity.

Regarding the DBC, I apologise for my punctuation. A new paragraph was supposed to start with "Overnight", meaning: Overnight, the company (meaning RPG and not DBC) became Cannabinoid investors,... The email was written in word and copied over, so I can only assume some formatting was altered during the copy and paste process.

With regard to PSNW, although Recordati may have the responsibility to use their own manufacturer, it was quite obvious from the onset that they would use PSNW given that RPG had already stated in 2014 that PSNW was engaged as the Company’s European-based manufacturing partner, otherwise something else would have been stated regarding Recordati. As such, RPG had a responsibility to advise shareholders of the administration issues given they had a substantial impact on shareholder value from a necessary placing. If there were no issue and Recordati still wished to change manufacturer, PSNW could have still supplied cans whilst Recordati were entering into a new agreement with Genetic and obtaining EU approval. This would have had no delay with the European 2nd rollout China and Orient and more than likely no requirement for dilution given China would have had 18months of sales.

That’s said, there has been no update on progress with the change in manufacturer by Orient. Why was this? Ever since Orient entered into a license agreement, there appears to be little progress, which will now be further delayed due to the PSNW debacle. Has there been any progress on either of Orients regions with regard to approval progress?

With regard to production, you again only mention production possibilities but do not elaborate on current upscaling. The OTC approval announcement did mention upscaling to 50k cans, but given the wording used (with the aim), which is not that specific on timeline, one has to assume batches would still only be every 4 months. At least with PSNW we knew they had upscaled to 50k cans which could be produced every 6 to 7 weeks (you actually provided me with sometime ago a complete timeline breakdown on batch production). Can you please elaborate on what the current upscaling is or is it as I have indicated ?

Although Genetic is in the process of building an additional production line, this surely will take close to a couple of years before it is built, approved and up and running, which I base on the information you provided before with respect to a n additional production line with PSNW. Will the time needed by Genetic be any different and when are they targeting to complete this alleged work?

Continued.....

The reply can best be summarised as 'honest guv, its everyone else's fault but our own".

I don't blame Gibson, we would all probably do the same in his shoes and harvest large sums of cash over many years for doing very little and adding zero value".

I suspect he must be busy doing lots of other work (in his capacity as a Lawyer) for Mr Mellon and RPG is just a convenient vehicle to reward him through.