The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
https://www.lse.co.uk/rns/CPH2/operational-update-itbrv4aly849d53.html
Surprised no one has commented on this as the company has £1m in this.
Seems CPH2 listed too early before finalising product.
This company should be wound up. It couldn't make sales during the COVID pandemic so is it likely to make sales with its other tests? Highly unlikely based on past form.
It's AIH loss test got CE approval in November 2019 and the Inspiration Healthcare distribution agreement was signed in April 2020 around 2.5 years ago! Yet sales of £50k announced for all business sales.
No value creation whatsoever for shareholders. Too many dreamers on here.
Buy recommendation
The company has no cash left. In these situations doesn't the finance provider require a share placing as well to shore up the balance sheet before the loan is given? Unless it's a CLN they are looking at?
Not invested and not looking to invest here as I have my other gold mining stock investments.
Funny how the rampers were pushing this to 70p by "next month" or "by Christmas" without having full information and the same rampers are now persistently deramping without the same full information and when they say they have sold out.
Think most people could see through your fake posts when you were ramping and they can see through your deramping posts when you claim to have sold already.
So likely when they were ramping they were selling and when they are deramping they are looking for a cheaper entry to trade or hold.
But blunt but why should genuine shareholders have to tolerate such nonsense on these boards. You do see the worst of human behaviour on these boards. Anyway as they say what goes around comes around.
Regarding the state of the company - yes it could be bad news whatever it is but let's hear it now from the company rather than the incessant nonsense put out by the companies former biggest supporters allegedly.
Has been a disaster of an investment. Always felt uneasy when Prim started to invest in miners. They often disappoint and are sensitive to the economic cycle. Perhaps we should have scaled into these loss making companies rather than making big investments in one go? Great land Gold was probably just an exception to the rule but look where the price is now.
The main investment which looks the most interesting is Fresho but I think we have never had the profit, turnover etc figures so we can assess ourselves what the company might be worth.
However, it's hard times all round at the moment.
If only Fortissimo was evenly balanced in his commentary. There has been non stop ramping on the Solgold board while share price has crashed.
Funny how people always focus on the share they hold and don't see the wider picture.
Miners have been hammered across the board. It's not something specific to AAZ.
According to the Solgold board posters this Fortissimo is the same character under the username ColonelDrake whose account was closed by LSE. ColonelDrake did post the same kind of posts as he is doing now a while ago on this board and they were poorly researched and based on old articles he/she found on the internet and there seemed to be an ulterior motive for posting.
The poster is becoming a troll in my view - believe the poster was trolling the GGP board as well if my recollection is correct before the CD account was closed. If he persists he can be reported.
Most other biotech stocks have had a good bounce and recovery in the last few months (especially in the US).
About time we see that as well. This stock has fallen too far imo.
Think most of us didn't foresee this share price action.
Company seem to have shot themselves in the foot by announcing that there will be funding shortfall following the Scottish decision. They should have raised the funds rather than make the announcement; a small placement and a Primary bid offer like others have done.
It's not like they attempted to raise but didn't succeed so informed the market.
Agree that the company have not explained the decline in production. They seem to be dodging the issue.
It was quite funny and worrying at one of the company presentations (can't remember which one but people here will recall it) recently when asked about the decline the directors started to look at each other in a puzzled way as if to say they didn't understand what the fuss was!
Seems the only ones who are going to get rich from this are the directiors on their fat salaries.
I sold a while back. Decided to take the loss (at higher share price levels); no point holding when you have lost faith in the directors.
This company can't even stand still with the level of decline. Whatever cash is being made is spent on new capex. Jamaica is just a gamble might happen might not; no straight answers from the company here as well.
It would be good to know what kind of revenues Fresho is generating.
@aprogerson
Yes agreed regarding your post below at 17.31 where you say:
@Balanced Please be clear that the Year End results and the statement you provided was for the period to 31-Dec-21 which was AFTER the initial RTO £5.5m capital raise but BEFORE the Feb-22 £2m Capital Raise which was explicitly for "Acceleration of Phase 3 development" as per the 14-Feb-22 RNS.
Hi
I have a few miners so always interested in looking for new situations. This was in the results. An interview is mentioned in the posts below but the results announcement clearly refers to funding.
"Going concern
The interim condensed consolidated financial statements have been prepared on a going concern basis. The Group's assets are not currently generating substantial revenues and therefore an operating loss has been reported. An operating loss is expected in the 12 months subsequent to the date of these financial statements. As a result the Group will need to raise funding to provide additional working capital within the next 12 months. The ability of the Group to meet its projected expenditure is dependent on these further equity injections and / or the raising of cash through bank loans or other debt instruments. These conditions necessarily indicate that a material uncertainty exists that may cast significant doubt over the Group's ability to continue as a going concern and therefore their ability to realise their assets and discharge their liabilities in the normal course of business. Whilst acknowledging this material uncertainty, the directors remain confident of raising finance and therefore, the directors consider it appropriate to prepare the interim condensed consolidated financial statements on a going concern basis. The interim condensed consolidated financial statements do not include the adjustments that would result if the Group were unable to continue as a going concern."
Hi Acuere
Stomach churning stuff to lose all the profit on a stock. It's happening on a lot of stocks across the board at the moment and it's a tough investment environment.
I'm not clear why they only sold 25% as Exai looked overvalued in the $20s. I did read that there was a 6 month lock in or something for pre IPO investors and maybe Fipp only got permission to sell 25% earlier than the lock in period?
If there were no restrictions then it could have sold 50-75% or just retained a small stake. It's an early stage investor so doesn't make sense holding on to such big stakes.
Exai is also at early clinical stage with its drug and partnership programs and will at some stage require more funding hopefully not diluting us greatly.
Yes looking forward to news regarding progress on the investments.
As a new groundbreaking product it has sales already and the comments from the Dr are a great endorsement and validation for the tech:
Dr Steve Mamus, a nationally recognized oncologist serving as Medical Director of Oncology / Hematology and founder of the Cancer Center of Sarasota (FL, USA) commented "EpiSwitch CiRT has demonstrated that it can stratify patients in either a high or low response likelihood category with high accuracy. This promises to add real value - both supporting our decision on whether ICI [immune checkpoint inhibitor] therapy is appropriate for a patient and giving us a rational approach to stopping and/or restarting therapy at the right time. We need tools such as EpiSwitch CiRT to provide evidence supporting whether persevering after an irAE (adverse events related to toxicities) is the right call for an individual patient." Read more from Dr Mamus here [7].
Normally a volume weighted average over a number of days before share allocation and Prim may not have elected to take all the CLN as shares.
Here's the link.
https://www.reuters.com/business/london-stock-exchange-proposes-special-listings-private-companies-wsj-2022-01-15/
Talking about unquoted investments, agood development for such companies and another alternative to the JP Jenkins market.