Member Info for B2HS2L

I'd like to spend some time with you guys enjoying the craic, but I've spent so long on this board recently, that the wife is insisting its time we enjoyed some good weather..
She's right of course..

Bertie, what would you be saying if a couple of licenses were signed for Dermapure Friday?
We should be making the patents pay off now.

@BigBear2

"recapitalisation means equity which will then allow access to the rest of the loan."

https://www.investopedia.com/terms/r/recapitalization.asp
Longer term members of this board won't thank me for discussing this further, because it was discussed to death much earlier

@parkez

https://xtalks.com/fda-halts-sale-of-transvaginal-surgical-mesh-tied-to-patient-lawsuits-1875/
This FDA article is my total knowledge of the options available to women now.

However see todays 09:31 post because the situation gets worse.

@BigBear2
The company is in the process of being recapitalised I feel.
TRX has been using their working capital equity for months, such that at or after beginning of Feb, they can draw down Tranche 2 of the MidCap loan.
Equity is scheduled to be zero by end of April.
Thus equity is swapped for debt, - recapitalisation achieved.
TRX need debt not a placing, - as debt keeps the wolf (predator) from the door, a placing keeps the wolf interested.

SGD27, The only thing that gives this story creedance is that it appears in The Times.

I looked at 3 other companies that Woodford invested in, and saw no recent TR1's indicating Link were reducing their holdings as might be expected when selling large amounts of stock.

XSG, SENS, MPH.

Anyone know of an ex-Woodford company where TR1's notifying reduced Link holdings have been issued please?

It might be one of the 18

Who's login details were not cancelled after they were made redundant. (possible insurance issue?)

From the RNS: "The Company took immediate steps to respond and manage the incident, appointing external specialists, including forensic cyber security experts to investigate the circumstances and scope of the incident."

To me that means TRX is following a pre-planned immediate action drill.
I suspect that is because the external specialists, and forensic cyber security experts were all called in strait away, and the company had a contract to deal with a cyber attack.

Those specialists would have pre-prepared the company for an attack, by advising TRX that all confidential and business critical files should be backed up to a place not accessible from the internet.

Not sweating about this, and feel delays will be small, - they will want to advise when their systems are back up and running to allay investor fears.

It might be one of the redundant 18.

I was thinking along similar lines Indy499.

How about the following:
Any stock that does not sell in the given timescale is automatically transferred to the illiquid list which is being sold of by another broker I believe.

I'm not well versed in the sale, but this viewpoint would remove the deadline that passed on Friday.

Dusterman, thanks for prompting me to review the ARMS website.

I searched the constituent parts of the site and there is no mention of the fact the synthetic sling procedure has been banned by the FDA.

This seems to be a conspiracy of silence because authorities do not want women who are presently happy with their synthetic pelvic sling to start suing because their procedure is no longer sanctioned for use by the FDA, - ie banned.

Is this why the 20.01.20 RNS did not state the sling had been banned, because it might be read by women and ambulance chasers in USA, thus frightening the horses?

I think they are expecting many future problems from women currently satisfied with their pelvic mesh procedure, hence the avoidance of the word 'banned', and that this problem is global in nature.

I would advise you to give some attention to the following FDA link below.

https://www.fda.gov/news-events/press-announcements/fda-takes-action-protect-womens-health-orders-manufacturers-surgical-mesh-intended-transvaginal

Whilst feeling for the women past, present, and future caught up in this sad story, I am starting to suspect that this opportunity is bigger than USA.

Dermapure (and thus TRX) will be the more attractive to predators if my thinking is right.

20.02.20 RNS stated "It is important to note that until recently this (Gynaechology) market was served by synthetic mesh which has now been largely withdrawn from the market, and where the Company expects to realise significant commercial opportunities."

This is misleading, as the following link states that on 17.04.2019 "the US Food and Drug Administration (FDA) announced a ban on the sale of the surgical mesh device."

In a further quote, "The companies will now have 10 days to submit their plan to withdraw these products from the market", the FDA said.

https://xtalks.com/fda-halts-sale-of-transvaginal-surgical-mesh-tied-to-patient-lawsuits-1875/

The board know and have known since April 2019 that a very large opportunity has been presented to promote Dermapure as THE replacement procedure for Pelvic Prolapse in women. More than 100,000 women who have had the mesh implant are suing.

Whilst knowing of the pelvic mesh ban, ARMS medical has to remain passive, while TRX p*nces around trying to decide how to fund expansion.

If you think we are 'inconvenienced' by the LINK sale of Woodford shares, which is putting proper TRX shares market valuations on hold, share a thought for our partner ARMS. TRX has two income streams, ARMS has mostly one.

emailed John Samuel this morning.

My question was whether, when we contract for Dermapure processing from CTS, we are providing them with the Donor tissue, or whether we are paying CTS to supply tissue as well as perform the Dermapure process.

I was also urgeing them to license Dermapure.

Not really hopeful of a response.

Anyone else with news of todays sp performance for other Woodford shares?

Stu thanks, - I am expecting sp to rise to between 2 and 3 p when TR1 stating Link out appears.
This is because the last RNS was too downbeat about the present funding situation, and only the board can get their finger out and do something about it.
What is the expectation for XSG sp when Link out is notified please?

Not being aware of other Woodford shares, can anyone say whether other Woodford shares are plateauing like TRX today, or is our sp today unique?

Mike, - Just checking you read the below post.

RE: Fear
24 Jan 2020 09:58
I'm confident that the redundancies were because Arthrex are pretty much taking all the tissue that CellRight can process, so what do the sales and marketing staff do now?
Dermapure use ARMS and have a separate bunch of Sales and marketers.
Confident the redundant are the said CellRight S&M staff.
A good distribution agreement saves on staff as well as sells all your product.

Try looking at my posting history for more on this subject.

Smokin, - Good sleuthing, hoping this encourages more to research.

To compare financial performance year on year, RNS's refer to Percentage change (GBP), and Percentage change (constant currency), see columns in table of 22 January 2020 RNS.

If my assumption is correct and 18 people were redundant before 08.10.2019, the 30% saving in wages was made at least 3 months ago.

https://www.expressnews.com/business/health-care/article/Tissue-Regenix-to-expand-San-Antonio-area-medical-14504344.php

This story dated 08.10.2019 states 41 people work at the plant.
Was that 41 before or after the redundancy's?

41 - 18 = 23. This doesn't seem enough for both Dermapure processing and two shifts of CellRight processing, (and they need different training).

Also for CellRight, "..the average number of orthopaedic donors processed monthly at our San Antonio facility has more than doubled from Q1 to Q4". - taken from RNS this week.

I will assume 59 worked at the plant before redundancies, and now 41 work there, so the wage bill has very roughly been reduced (18 / 59) * 100 = 30%, and the 41 working were headcounted in early October.

No mention of overtime working, but I assume some.

Also from the expressnews story, "British company Tissue Regenix is expanding in San Antonio, with plans to more than double its workforce at its Universal City manufacturing facility."

So they are looking to employ at least 82 staff, many of whom will be recruited well before the new facility is ready, due to training needs.

The above assumptions and calcs might give a flavour of how many staff are needed present and future.

Just my thoughts on shift sizes and present makeup.

..And well done to those who bought at 1p and haven't sold.

I think your saying expect a boost around the time the funds are distributed?

Only another hour to go and Link are out.

Managed to avoid any sp shenanigans I half expected today, and sp has pretty much recovered yesterdays loss.

I'd have settled for that situation first thing this morning.