Member Info for AJP08

One to consider?

https://sensitivehome.com

Interesting headline home page?

We have had tie in here for many years, is this the costomer?

https://itaconix.com

Capital Markets Day presentation

24minutes 25 seconds in

ATB

AJP

Hi

Canaccord Genuity has published a new research note on:

Itaconix plc.

Does anyone have access and can advise of the content?

ATB

AJP

Hi Thordon

So good to hear from you, we have missed your input and we were all very concerned for you, so sorry to hear about your dad, my thought are with you and your family at this time, take care.

AJP

Hi Smart

So you know who the customer is, what their expenditure is withI TX and what margin we are dealing at with them, if this is that case can you please advise the board or are we maybe overreacting somewhat?

I know it is frustrating but sometimes these hard decisions have to be made.

ATB

AJP

Thanks Troajan

As has kind of been alluded to on this BB, the markets had to be made aware of the situation, but by what John is saying the relationship with this client if far from over (watch this space as they say).

Onwards and upwards with better profitable clients, going forward.

An opportunity to bag a few more at a still very cheap price, even if it is to put in the bottom drawer?

ATB

AJP

Hi JD

Blended Gross Profit Margin up 3.2% to 28%

This was due mainly to production ramp up and pricing increases to customers in the late part of 2022

Performance Ingredients – GPM 34%

Formulation Ingredients – GPM 10%

So even less of an impact ?

Looks like we have taken delivery of a further 40 metric tonnes of raw materials, will post details when confirmed, with complete BOL and up to date shipping information.

ATB

AJP

Does not look like todays news has has any effect on our staffing requirements, which should tell us that it is still full steam ahead, we do not want to be a one trick pony?

https://itaconix.bamboohr.com/careers

4 positions still require filling

ATB

AJP

Hi JD

Think as you say there needs to be further clarification and next week would be as good a time as any to get this?

Is this a stand-off situation?

As has been said by John that once you are formulated in it is very difficult to get formulated out.

I would guess that whichever customer we are talking about would now have to go down the road of a reformulation, rebranding and I guess not being able to claim the advantages associated with using ITX ingredients, a very costly exercise I would have thought, with no guarantee that the new product would be successfully adopted by the public?

I am sure a compromise will be trying to be sought

ATB

AJP

The question, is have they walked away, we are very quick here to jump onto the negatives, but would it make sense to be supplying this customer and not making anything at all , what would be your reaction to that? very similar I would hazard a guess.

As has been said and I agree, John would not have taken this step to defend the margin unless he has something coming out soon to cover surpass this revenue blip

Have we forgotten the potential of the big boys (Unilever etc), who we have broken into and the further revenue streams of Leather products, paint and superabsorbents.

All is not doom and gloom and that there is a bright future for ITX, we cannot be held to ransom by one customer, think there is more to come from this and maybe it will take it being out in the open to reach a resolve?

Long term holders have seen this all before

ATB

AJP

Typical AIM, total overreaction.

"Whilst discussions on 2024 pricing and volumes are continuing, and some order volumes remain likely, the impact is likely to be much lower volumes and revenue from this merchandizer in FY 2024 compared to FY 2023."

Good to see that ITX have made a stand on this, is it a case of this is not dead, but we are demonstrating that we will not be pushed into a corner, but will stand our ground and go toe to toe?

Holding firm and looking to pick up a few more on the dip, clearly a buying opportunity, not only for us but for any potential suitor in the background?

Interesting final results presentation next week? (RNS out this week I would have thought)

ATB

AJP

Hi Elsol

Looks like another large purchase posted a day later than transaction?

27-Mar-24 14:48:08 260.00 8,600 Unknown* 254.00 270.00 22.36k

Markets closed tomorrow and Monday for Easter, so would think news will be out early next week on date for the finals

ATB

AJP

Hi Elsol

Thank you for the breakdown of the presentation, as you allude to there are some very interesting development that are happening right now and even more to come as we move forward.

2 million to replicate a plant in Europe, now that would be a huge step forward? and relatively cheap to double our capacity from where we are at the moment, and all the benefits that would bring.

ITX SP is just in its infancy, how do you value the potential here(huge)? personally I do not think we will get the chance to achieve this and will get taken out?

ATB

AJP

Think that some of the large trades over the last period may be those taking the opportunity to use up their ISA allowance using up their tax free allowance for the year, sell out of share account and buy back into ISA, as April is just around the corner. (basing that on on real share price change based on size of trades and many very closely timed?

For example

25 Mar 24 09:29 2,183 219.50 4,791.69

25 Mar 24 09:29 2,203 218.00 4,802.54

25 Mar 24 09:09 2,404 219.30 5,271.97

25 Mar 24 09:09 2,423 218.00 5,282.14

RNS out tomorrow, with Date for the Finals?

ATB

AJP

Hi

From last month

Not sure if this has been posted previously, but totally worth the watch. (full presentation and Q&A)

https://www.youtube.com/watch?v=LW02eSCJ2Bw

ATB

AJP

Hi Luthrin

Then the figures may well be better than I have forecast, this was only a rough set of numbers and are I guess open to interpretation, but where I was coming from was that the overall figures should not be a million miles away from breakeven?

Good to get others thoughts on what we should expect, as we can see from the recent posts on links into new products being produced by the big boys, that we are also making inroads there, which can only be positive.

Not long now, my guess would be 3rd or 10th of April for the finals, should be very interesting?

ATB

AJP

Hi JD

No problem, was tucked away at the bottom of the RNS.

Have had a stab at the figures for 2023, back of the cigarette packet job (lol)

1st half 2023

Revenue -$4,032

Cost of Sales – ($2,899)

Gross Profit - $1,133

Admin Expenses – ($1,863)

Group Op Loss – ($730)

Interest Income – $48

Loss for the period ($694)

Reclassification items $439

Total Loss for the period $225,000

2nd half 2023

Revenue - $3,900

Cost of sales – ($2,400) no raw materials all in 1st half

Gross Profit – $1,500

Admin Expenses ($1.900)

Group Op Loss – ($400)

Interest Income – $40

Loss for the period ($360)

Reclassification items $400 marked slightly down from 1st half

Total profit for the period $40,000

Looking forward to see how our GPM has improved, profits this year ?

Thoughts

ATB

AJP

Hi JD

From last trading update.

"Further details of FY23 trading and the outlook for 2024 will be provided when the Company announces FY23 results planned for early April 2024."

ATB

AJP

Dishwasher product (Europe)

https://www.ecosplendo.co.uk/claro/eco-multi-tabs

• Polyitaconic acid sulfonated sodium salt

https://itaconix.com/wp-content/uploads/SDS-Itaconix-CHT-122-rev-EU-2-1.pdf

ATB

AJP

Washing powder in Europe, not seen this one before?

https://www.rossmann.de/de/haushalt-eco-freude-vollwaschmittel-20-wl/p/4305615834917

Sorry in German, but you get the gist. (Sodium Polyitaconate)

Rossmann

Pharmacy chain

Dirk Rossmann GmbH, commonly referred to as Rossmann, is one of the largest drug store chains in Europe with around 56,200 employees and more than 4000 stores. In 2019 Rossmann had more than €10 billion turnover in Germany, Poland, Hungary, the Czech Republic, Turkey, Albania, Kosovo and Spain.

ATB

AJP

With the results due out on the early part of April, will there be an AGM as well?

If so I would expect an RNS out next week to advise?

Sure there will be a bit of movement back and forth till then as investors try and get their positions sorted out.

Back to the research on products

ATB

AJP