Member Info for AquaeSulis01

I think you'll find they were mol. They did not have to be audited which is what the balance sheet statement exemption refers to but were as the statement at the top of page 2 states "The Directors present their Annual report and the AUDITED financial statements of the Company for the extended period Feb 2023 to 30th June 2024.

The reson they were audited I suspect was so that the earnout in May 2025 could be confirmed.

Try this link

https://find-and-update.company-information.service.gov.uk/company/06472144/filing-history

PG, I wonder if you are getting confused with the Audited EOY Dermatonics final Accounts for FY extended to Jun 24 which were published at Companies house on 7th April 25?

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Net, the Full Picture in March reference at least makes sense as March 2026 is the date the Interims are published for FY26. Hopefully, the Outlook for HY1 26 in the FY 25 EOY Accounts published this Calendar Year will provide a good guidance of the Increased revenue we all expect to see, but there will certainly be no hiding place in the H1 26 Results RNS in March. Just to be clear, AIM Rules require EOY Results to be published within 6 months of the FY Year End and as the Unaudited Trading Update was back in Aug there is no reason for that regulatory date note to be met

With you on that one shychap. netcurtains posts solely on this BB, so must surely realise it is the EOY Accounts due, which must be published by 31st Dec 2025 (within 6 mths of the FY end).

Just addressing your comment "Unless someone "clever" people in Spain are putting it into tablets (that is possible - its not toxic as far as I know)...."

From a regulatory perspective It would be a big problem net.

- In the UK and EU, cosmetics must not exert systemic effects or claim to influence body functions beyond the skin.

- If Primor (or its advisors) interpret Zenakine’s mechanism of action or marketing claims as targeting systemic wellbeing, they may argue it falls under food supplement or borderline medicinal territory.

- This is especially plausible if Zenakine is being promoted in ingestible formats (e.g., nutricosmetics), or if Primor is applying a precautionary interpretation to avoid regulatory risk.

- If Primor’s classification holds, it could trigger different regulatory pathways, including EFSA-style dossiers, NDA constraints, and restrictions on cosmetic claims.

- It may also impact royalty structures, distribution channels, and advocacy narratives, especially if Zenakine’s positioning straddles beauty-from-within and topical neurocosmetics.

There is no public evidence that the Zenakine-branded dietary supplement sold by Primor is licensed from Croda or SkinBioTherapeutics. It appears to be a parallel formulation using the same name, potentially without authorization.

Well if they believe zenakine is a dietary supplement then SOH has some slimbiome to sell them to rub on their wrinkles

We agree the formal Comms are lousy but that is a different issue and on the face of it the informal dermatonics comment is positive and we haven't had too many of those in recent times so at least embrace the moment rather than put a downer on absolutely everything

Think you'll find the announcement of the intended launch was in feb24 with the manufacturing of stock and training of the 2000 sales staff following on for a launch later in the year which led in part, along with Amazon US, to the £1M uplift in Dermatonics revenue for FY 25

Unless the new accounts offset in part the expected uplift from Umesh Modi in which case nothing to report to the Market but good news for the future none-the-less.

Dr Emma Wedgeworth and Charlotte Winter, a couple of impressive advocates for Axisbiotix products signed up by SBTX

Disagree with you there shychap. The next Pillar is Medibiotix where he has allegedly been in discussion for several years now with a couple of Big Companies who he intends to partner with because of the regulatory hurdles that need to be overcome to get a product to market

Veritas, the focus needs to be on profit not revenue. A reminder from the Sep 2024 HY Year report ""With appetite suppression, gut health, sugar alternatives and modulation of the human microbiome all attracting ever-increasing interest, we believe that the Company is strongly placed to achieve profitability through growing sales of its now proven first-generation products, while progressing towards the commercialisation of our even more exciting second-generation products, SweetBiotix® and human microbiome modulators."

So Sept 2024 the HY Operating loss was £1.066M for 6 mths to Jun 2024

Fast Forward to HY 2025 and rather than making progress towards that growing profitability the Operating loss increased to £1.437M.

So until the Company can demonstrate that it can bring its cost under control, retain its current Customers as well as win new ones, and actually balance its books and make a profit, then the share price will continue to languish

Just quick reply, the earn out last year was confirmed in the end of year trading update and there was np such mention in this year's update

Hi Toyin, currently travelling down to Plymstock but had a quick look but couldn't find your comment. Can you repost or fwd via elric and will get back to you

shychap, hopetastic companies rely on regular doses of bulls **** to keep the share price up and raise funds at inflated rates to keep the lights on until the goods times roll and results start to speak for themselves. looking back, sbtx at its comms inflated sp raised significant funds just to keep in business whilst the croda contract promise rolled across the years. whilst i don't like the fact i, like a number of other lth's, bought in at the artificially high prices, the individually profitable acquisitions, along with the growing but modest axisbiotix product contributions allow the company to operate profitably with just a small contribution from any croda pre-launch royalties, and that is to sa's credit. as it happens, pre-launch croda revenues appear to be more substantial than i suspect sa anticipated, which is great news, but none-the-less the appearance of the first products containing zenakine on sale to the public may still be 12 mths away which may well have proved an issue without the dermatonics and bts acquisitions, but now no longer is.

so the absence of comms in advance of the audited results may well be a positive sign that the company has moved from hopetastic to results orientated; let's hope that is the case

What we do know Belgrano is sentiment although a powerful mover of sp, sways markets on a very temporary basis and in the long run it is cash that is king.

This time last year (14/11/24) the SBTX M/C was £40.11M with forecast revenue of £1.2M, Net loss £2.9M and cash at end Jun £0.8M. This year the M/C is £41.08M, revenue forecast £4.5-£4.8M, Cash £4.8M, and Adj EBITDA loss £0.3M. Why don't you perform the same calc on your INSIG AI holding and see whether you feel as comfortable holding?

Strange market reaction to today's news, bought in for the first time as looks a solid investment from here.

https://www.investorschronicle.co.uk/content/cd402ea9-ec99-452b-96df-582e7893eea1

Of course it wont appear in any "new" Customer's products this Christmas it will take even an agile small Company 6-12ths to get to market but that misses the point, Croda and SBTX get paid once the ingredient is ordered not when their Customers go to market.

As an example, the award winning Luceane ingredient was launched June 2024 and still doesn't obviously appear in any products on the market but that doesn't mean Croda haven't made millions on sales

https://www.personalcareinsights.com/video/cosmetic-business-2024-croda-beauty-launches-luceane-for-anti-aging-applications-and-skin-radiance.html