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There is no point us all investing in SAR open options to the tune of 300K if SAR BOD are going to continue taking 50K per month in salaries (20K TM and JR each and 10K SP)
They need to proactively reduce their salary drawdown's and also provide greater levels of comms on the way forward
FWIW : AndyMKDons message worryingly felt like a real possibility of the BOD shafting us and sitting pretty at the expense of the shareholders ... hopefully we have some knowledgeable individuals keyed up in company law who can ensure that if we do lose everything so do the BOD also
1% of shares traded and MMs taken 33% off of todays MC
Or was the RNS deliberately worded in this way -- Lets just say GSK want the compounds and have lined up lucrative roles for our BOD should the company go BUST !!!
Stranger and more despicable BOD antics have been done before in other companies ...
Hope this is not the case !!!!!!
Silver - 20% goes straight away on salaries fro TM (200K) , JR (200K) and SP (92K) .. so it does not leave a lot ... especially if you add to that all of the admin charges with the RF deal
What we do not want is the shareholders to lose everything, the company get trashed and the BOD to move to the company who picks up our assets on the cheap on similar salaries to those they are on now ... If we lose they must also lose !!! not just move sideways with our compounds into a new company or large pharma !!!
LAZ - if its a placing on its way then why kill the SP now with this news prior to a placing which will now be sub 20p ... Using your words 'it stinks' of foul play because the SP collapse has not finished - it will fall again on 25h March when the actual results are presented and then again on any placing .... THEY SHOULD HAVE PLACED PRIOR TO THIS COLLAPSE !!!!!
The Company is in discussions to assess alternative funding arrangements and has taken steps to preserve its immediate capital utilisation.
What steps to preserve immediate capital utilisation ? .. only 2 areas where the money was being burnt IMHO - SALARIES (20%) and Trials (80%) ....
Are they going to defer salaries ( or take them in Shares which could be very rewarding for them if the SP recovers ) or are they going to delay the trials >
20% of all working capital goes on salaries ... £500K + per year
Time to defer salary payments or take shares !!!!!!! Time to show us they are committed to us and the company
He would be organising and EGM now !!!! - Parker and Mitchell out
FFS ... I just hope they have been looking at alternative funding since the AGM and not just expecting RF to continue to KILL us !!!
In accordance with the terms of the Facility, Sareum has issued a further 1.5 million Placing Shares.... so basically they trashed our share price from the original 103.5p arrangement and now have another 1.5 Million in their hands at a ridiculous low ball price
So we are now again at their mercy ... If hey sell we are completely screwed ... OR DO THEY HOLD for a recovery ?
Either way Parker and Mitchell have been well and truly played here !!!!!!
warthog -- be careful ****ging off parker and mitchell on here ... many still are very protective of the useless pair ... one has no financial abilities and one cannot manage !!! but still they are able to look after themselves with large salary increases
time to call for salary deferrals !!!!!!!
Don't get too excited - only 250 shares * 2 - approx £150'ish
Is that 20 lots of 33 shares bought ? 666 in total
Now that the interims are out I expect the new boss to make his mark and start to turn this company around ... All just IMHO ; ... watch this space ... comes to mind
2 little thingies ... 33
.. and no movement .. can only mean RF have another large sale queued up
CEREUS - Science is not the problem .. JR is a very talented guy who we all trust with the compounds he has created
Our problem lies with the pizz poor managerial abilities of TM and SParker;
AIMHO but many on here will disagree as some feel the sun shines out of Parkers Ar.SE; A good job really as we have many more dark days to struggle through yet
Have they managed to push this SP down to what might become 20p+ prior to getting their free topup and additionally funded shares ?
If so and they stop the selling it is likely that without the SELL pressure and the possibility of news the SP may begin to recover ... and RF then stand to make a real killing on their new shares ...
And the 'watch this space' message ?
Still think the BOD taking some of their salary in shares might help the cash runway ... as these new higher salaries are bleeding the RF funds dry .. and we need to preserve cash as much as possible to get to the end of 1b !!!!