Member Info for Adamsky

MaximusD

Thanks for your comments, like you I am heavily invested here but as an investor I want to see the management perform and increase the value of my hard earned cash.

Belluscura - has been a total and utter mess, 2 years late for FDA clearance and can someone please tell me what the actual delay/s are ? No, they have not kept investors informed.

Salarius - we have 3 heavy hitters in the management team for over 2 years , the product was ready to go and the last recorded sales we had was in June last year. We were told 3 to 6 months to evaluate the product, we had 25 companies testing it in January this year, 10 months ago. I know you cannot force people to buy the product but let me explain my concerns.

Our CEO Victor Manzanilla has his own Twitter account and he is very active on this as other posters have commented. As a CEO for a company trying to break into the market shouldn’t he be fully focused on Salarius and not trying to expand his sideline, or maybe Salarius is his sideline , of writing books and preaching good practices, it is all about perception.

I have his Salarius e-mail address and e-mailed him a week ago, no reply. Is he A) Too busy with Salarius ? or B) Too busy with his personal career ?

The e-mail contained my observations that MicroSalt have two Twitter accounts and the websites e-mail address doesn’t work, which is very important as how do interested parties contact them ? Very unprofessional.

We will probably be successful in these two products but from what I see we could have been more successful sooner.

Ultimately we are paying the wages of management through investing and our holdings being diluted by fund raising.

Hopefully good news will come soon but I don’t agree that there has not been any mismanagement especially in Belluscura’s case.

Like you I am staying invested for the long term but things need to improve in certain areas.

All the best and have a good weekend.

Adamsky

1 - The General won’t play ball so they are either lodging an appeal, raising another case in the Mozambique Courts or seek justice through International Law, if they can.

OR

2 - The General has sold his 50%, Pathfinder have no sway now so Pathfinder lodge an appeal or commence a new court case. The Chinese can’t wait so then have to negotiate with Pathfinder or the Mozambique courts find in Pathfinders favour.

Option 2 is best for Mozambique , The General and all his corrupt court and corrupt mining authorities save face and Mozambique can then say that they have upheld the UK court ruling. A Win Win

Let’s hope its fairly positive news whatever is the outcome.

Adamsky

TopCatz

Very good summary regarding the Salarius video update. It appears that we are progressing very well but as my old boss used to say ‘talk is cheap’, we need sales figures for SaltMe and I can’t believe they have not sold any MicroSalt since June 2019, the last time we had any sale updates via an RNS.

BigBang , I share your frustration.

Belluscura - 44 working days till the end of year, will it be another missed FDA deadline, I am a pessimist and I think so. As mentioned before we are two years late and we still haven’t got a clue why.

Lucyd - they seem to be pulling out all the stops to make the new Lucyd Lyte a success. Let’s hope it is or we get bought out by one of the big boys.

Guident- Interviews recently and the control centre being set up early next year. I understand the principle of what they are doing and they are in a massively expanding market but I don’t have enough knowledge to know how successful it will be.

TekCapital’s communication has improved immensely but we need one of the companies to deliver. As you can see I still have frustrations around Belluscura and the FDA submission and sales of MicroSalt and SaltMe.

Keep positive and patient, I’m trying to !

Adamsky

TopCatz and BigBang,

Thanks once again for your replies.

I notice the words suffering and wrong decisions, are you sure these tweets aren’t aimed at TekCapital investors !

He seems very enthusiastic, perhaps some of this needs to be channeled in the Salarius direction.

I can feel an e-mail being sent to Clifford Gross.

Adamsky

TopCatz and BigBang thanks for your replies.

Clenchedcheeks any idea what he is saying or promoting or can anyone else translate , can't see much there about Salarius , MicroSalt or SaltMe.

I have got Clifford Gross e-mail address if someone can assist with what he is promoting perhaps I will send the link onto him asking what is going on as we are moving at a snails pace and the CEO is self promoting by the look of it.

Shame he doesn't post like that on the new Twitter account created recently for MicroSalt even though there was one already in existence !

I was frustrated now depending on what he is promoting I am getting angry.

Stay calm, because i'm not.

Adamsky

My jaundiced summary - Here we are over 2 years since we appointed major big hitters in the industry to the management of Salarius and from what we have been told we have had two orders and a repeat one and launched SaltMe crisps. Maybe these guys are working their socks off but from the above RNS’s there has been minimal progress. As mentioned distribution deals are great but we needs sales.

On the 24/01/2020 we were told 25 potential customers are testing our product , have any ordered ? If not very worrying.

I e-mailed the company with the e-mail Steveiom gave me, no reply, well over a week now. The e-mail address on their website is invalid and they have two twitter accounts for MicroSalt, school boy errors. The good news is I have Victor H. Manzanilla e-mail address and he will be receiving an e-mail from me later.

I have summarised the progress so far and apologise for my semi negative comments but I am getting very frustrated by the lack of progress. Either the company is not keeping us informed or the products are not as good as they want us to believe.

Have a great weekend.

Adamsky

The below are taken from the relevant RNS

06/06/2016 - Acquires Patent for MicroSalt - 4 years and 4 months ago

04/01/2017 - successful test-production and independent taste testing of µSaltTM, its proprietary, low-sodium salt product - 3 years and 9 months ago.

22/05/2018 - Appointed Eduardo Souchon and Steve McCready as directors. - Big hitters with massive experience in the industry, just read their backgrounds. Been with the company nearly 2.5 years.

01/08/2018 - Appointed Victor H. Manzanilla as its CEO - massive experience and at least he invested $50,000 for a 2.5% stake.

23/04/2019 - Initial order is from a US snack food producer and Salarius expects to dispatch the MicroSalt® in May 2019 - A good update but what about quantity ?

13/06/2019 - Secured & delivered a follow-on order for MicroSalt® for a U.S. snack food company and completed test production of its SaltMeTM potato chip snacks. - So from June 2019 we haven’t sold any more MicroSalt to this US snack food provider , why ?

24/06/2019 - Secured & delivered a new order for MicroSalt® from a Mexican seafood company for use in their dried shrimp snacks. - From this date there has been no more sales of MicroSalt as we haven’t been informed.

24/01/2020 - Hans Brokerage distribution deal - over 25 potential customers are in the process of testing and evaluating applicability of Microsalt® for their snacks and other product lines - IMPORTANT where is the update of the testing , 10 months ago ???????

02/03/2020 - signed an agreement with a leading natural foods distributor to launch North American sales of its new SaltMe!® full flavour-low sodium snack line.

04/03/2020 - Signed an agreement with iLevel Brands Inc ("iLevel Brands") as part of its launch of North American sales of its new SaltMe!®

24/04/2020 - launch sales of its new SaltMe!® full flavour-low sodium snacks in 71 stores in May 2020. - Where are the sales updates ?

16/09/2020 - signed a distribution agreement with Gehring-Montgomery Inc

My jaundiced summary to follow as I ran out of allowed characters !

Steveiom,

Totally agree with your comments lots of distribution deals but where are the sales figures especially for MicroSalt and SaltMe crisps. Just before the conference call I contacted Flagstaff and pointed out the lack of news specifically around Belluscura and the reply I got back was that there had been 27 RNS so far that year and the same was mentioned on the conference call. As you said Steveiom these RNS's didn't contain any real solid news about sales of the MicroSalt and Crisps or more importantly what's going on with Belluscura FDA submission, over 2 years late and has anyone got a clue why apart from they were short of the parts for the 15 units required.

I am just preparing the timeline of Salarius with my jaundiced comments, I am heavily invested here and was looking to invest more but I am holding off for the moment until I see clear and tangible signs of progress on either Belluscura or Salarius. Guident and Lucyd I am not sure about, Lucyd has been evolving but with the growing competition will it be successful and profitable ? Guident I honestly don't know, they are in an ever expanding market but is there solution required and how much money will it take to get it up and going unless one of the big boys subside us or buy us out.

More to follow later.

Adamsky

Guys,

Thanks for your replies, I am just a bit frustrated by the lack of solid progress. Reading through the previous RNS’s only further deepened my mood. As you say very clever people who were at the top of their game and should have lots of contacts and business knowledge but the companies are moving at a snails pace. I understand you can’t make people buy MicroSalt but Belluscura is a prime example of total mismanagement, missed deadlines, constant funding and the shareholders not being kept up to date with progress and issues.

Heavily invested and not happy.

On Friday I will post my take on Salarius after reading all the RNS’s, bit busy next few days.

Have a good evening

Adamsky

Afternoon Everyone,

I had the misfortune of going through every relevant RNS since TekCapital floated , not happy reading really. Several patents and IP they bought which we have never heard about since :-
Measurement of Glucose in saliva and on breath
Air conditioned efficiency patents
Energy harvesting technology , mainly in arm movement
Lucyd 13 patents for augmented reality which were going to be used but now it is just sound and speech
Acquisition of new gesture recognition software

Belluscura is the one I want to concentrate on as that has been a total and utter mess of missed deadlines, will there be another one ? Loads of RNS’s on non TekCapital fund raising that is why TekCapital’s percentage has gone down to below 20% from their initial 95%. What have they done with all these millions ?

Belluscura RNS updates :-
13/4/16 - Acquired and licensed to sell 3 propriety medical devices, what has happened to these ? At this point TekCapital owned 95% of Belluscura.
16/11/17 - Were going to IPO but on the 1/12/17 cancelled
31/5/18 - Filing of FDA in 2018
19/2/19 - X-PLOR launching later in the year
26/9/19 - Is on track to receive FDA later on the year
20/4/20 - FDA clearance in H1
1/5/20 - FDA clearance in H1 and manufacture in H2
17/6/20 - FDA clearance in H2

So here we are over 2 years later and we still have not received FDA clearance. If we get it by year end I will be very happy but it is still 2 years after the initial promise.

I am heavily invested in TekCapital and cannot afford it to fail but the more I read in the RNS’s the more I became uncomfortable of missed deadlines, what appears to be a scatter gun approach to the university IP’s and woefully inadequate updates.

Are the management team at TekCapital out of their depth and should have stuck to their university IP marketing part of the business ?

We have lots of very qualified people in our main 4 portfolio companies it's time they delivered.

Morning Mysteryinvestor, hope you are well ?

Nothing is guaranteed in life, especially on AIM but I have copied my post from last Wednesday below. I think people might be finally cottoning on to the positive vibes ...................

As per my previous post , the signs are here again.

Do the BOD and major shareholders like gambling with their own money, I doubt it.

Looking forward to the near future.

"The exercise of these warrants, at what is the current market price, coupled with the positions recently taken by the Chief Executive Officer, Non-Executive Director and a major shareholder, is testament to the confidence that exists within the Pathfinder Board of achieving a resolution to the licence dispute over Mining Concession 4623C in Mozambique. We look forward to updating the market in the near future."

TopCatz,

Thanks for your comprehensive reply. I do still feel that TekCapital could have provided more comprehensive updates during the FDA process especially surrounding the additional units required and the shortage of parts owing to COVID. Let’s hope this is just history now and we get an RNS landing with the FDA clearance news.

Regarding Salarius I would have still have expected update/s regarding the 25 companies that were testing MicroSalt , sales of MicroSalt and SaltMe crisps.

Good to see another tweet from Guident , thanks vusy. As mentioned the new collaboration enables us to provide not only the software for remote interaction but now a comprehensive way of connecting to the vehicle. So in theory, as vusy mentioned, this allows Guident to offer the complete package.

Lucyd is still trying very hard but let’s see how it all pans out.

Smart Food Tek we were told on the conference call that 5 companies were evaluating the product, let’s hope at least one of them like the product. .

Hopefully we will get comprehensive and positive updates between now and Christmas.

As mentioned, patience is a virtue.

Thanks for the replies and other posts.

Have a great weekend.

Adamsky

Steveiom,

Thanks for the e-mail address , I will contact them on Monday with questions and suggestions made in my previous post.

TopCatz,

Thanks for your reply and is there any information that Belluscura provided direct that gives us any idea why they are running 2 years late, correct me if I am wrong.

TekCapital will come good but we need more comprehensive updates good and bad. Flagstaff and the BOD picked up on our criticism before the teleconference and both stated there were 27 RNS’s this year. What we need is quality not quantity, I am trying not to get too frustrated but TekCapital need to up their game.

Have a good weekend

Adamsky

Steveiom,

Thanks for the update. Do you have a contact e-mail address for Salarius apart for the generic one on their website. After the creation of their new MicroSalt Twitter account they now have two in existence ! I contacted Flagstaff but the old Twitter account is still there. I will also ask a naive question in that have they contacted Walkers Crisps and Golden Wonder or any major snack manufacturer in Europe.

I will also contact Flagstaff later as the communication regarding the FDA and Belluscura’s application and updates is very poor indeed. I think there have been issues, we also are left to guess, and mistakes with the FDA application but we are kept in the dark. I am invested in another company that has just applied for expedited FDA approval and there has been comprehensive updates along the whole process.

I am heavily invested here and the communication is much better but still falls far short, we have been selling SaltMe crisps from May, where are the sales figures. In one on the interviews we were told they were producing MicroSalt, where are these sales figures. We were told 25 companies were testing MicroSalt, where are the updates. It is fantastic to sign these distribution deals and trials but where are the sales figures and updates ?

I want TekCapital to be a success for my Portfolios sake but TekCapital need to look at their updates, it is great having a company full of very clever people who have been at the top of their specialised fields but some of the basics need resolving before we get to be a very successful company.

Frustrated rant over and stay safe and have a good weekend.

Adamsky

Mysteryinvestor,

I have been invested since early 2013, if I hadn’t lost my sense of humour I would ask what Christmas !

There are positive signs with the BOD buying and a major shareholder The courts currently no longer have a say, the General is getting older and the Chineses won’t want to wait forever. There are lots of unknowns but the biggest one is what will be Pathfinders share ?

Stay positive and patient.

Adamsky

Mysteryinvestor,

Like lots of shares patience is required.

Regarding your comment 'just doesn’t help with people on this chat making out it’s going to happen VERY SOON..'

What is your interpretation of the statement in the RNS .....We look forward to updating the market in the near future.

I am not making out that it is going to happen VERY SOON I am basing my thoughts on the 'near future' statement.

What is your interpretation of 'near future' ?

As per my previous post , the signs are here again.

Do the BOD and major shareholders like gambling with their own money, I doubt it.

Looking forward to the near future.

"The exercise of these warrants, at what is the current market price, coupled with the positions recently taken by the Chief Executive Officer, Non-Executive Director and a major shareholder, is testament to the confidence that exists within the Pathfinder Board of achieving a resolution to the licence dispute over Mining Concession 4623C in Mozambique. We look forward to updating the market in the near future."

It has surprised me that no one has made a big deal about the BOD and Richard Jennings buying shares out of their own pockets.

The total amount purchased since the 21st of August is £100,464, yes OVER A HUNDRED THOUSAND POUNDS.

The derampers will say that they cannot buy if they have any knowledge as this would be insider dealing, really. This is AIM and how can anyone prove that they had knowledge before the purchases took place, best of luck with that one.

The bottom line is do you think these knowledgeable individuals of the financial markets and business would gamble £100,000 of their own money in the hope that the current situation is resolved and Pathfinder gets a well earned reward ?

List below are the dates, individual, shares purchased and value.

21/08 - Peter Taylor - 4,000,000 - £28,880
28/08 - Peter Taylor - 3,200,000 - £23,584

Warrants
03/09 - John Taylor - 3,000,000 - £18,000
03/09 - Richard Jennings - 5,000,000 - £30,000

The signs are there for those who want to take notice.

Best of luck to all the believers

Adamsky

Posted at 18:22 yesterday on TekCapitals Twitter feed, what do you think ?

https://twitter.com/tekcapital/status/1304470343202099200?s=21

Best of luck, Adamsky

Some associated news ......

https://uk.finance.yahoo.com/news/razer-beats-expectations-record-high-094100563.html