Member Info for Bantham

Interesting to hear what you all think is good and bad manners. I don’t know Dave but i can’t imagine he is necessarily the leading expert on these things. But feel free to post his credentials on this topic.

Personally when investing i think it’s better to focus on the fundamentals than worry about who you think has the right to comment.

Look - it’s pretty simple. I like writing about Angle. It helps me think about the situation and i apply that to other things i consider too. In this case - the real take-away was when you question the qualities of the CEO it’s probably best to abandon ship. But i also listen to people like you too - so i have ( foolishly ) bought back in a couple of times ( including 3 weeks ago). You see you can be interested and buy and sell out and buy back in based on value decisions.

Your approach seems to be that you make a decision to buy and then you shut your eyes and ears to any counter evidence and hang on for the ride. If that works for you that’s great. It’s a free country.

And remember - if you don’t like reading my posts, you can simply block me and still enjoy seeing your investment continue to decline in value in a well-mannered way. Because you are quite right - my opinions do not impact the fundamentals. But unfortunately for you the fundamentals are terrible.

Nope - i invest very widely but i tend to post on very specific situations. And i tend to find companies like this most interesting to post on. And this is a situation that i lost money on last year and it annoys me still that i was taken in by the b=ll==it. I reckon i spend max 30 minutes a week on this - as it’s just a bit of fun really.

If you look back a few months you will see me comparing Destiny Pharma with Angle. I am very long of DP and have zero AGL for the reasons i described in my post. I am also very long of a company called Immunocore. Those are probably most relevant to you.

What i have said here is that Angle is a busted flush and now is no more than a trading stock. I think that’s a statement of the obvious. But so much of what i have said about Angle over the last year has to me been a statement of the obvious. Yet people like you prefer to hold on for grim life, ignore the facts and finally question my psychology.

So you stick to your guns BOJO - maybe i am wrong and soon you will make a serious return on Angle.

The thing is - whether you like it or not - i think TG2D is right about this.

By which i mean - the only news flow we have here is negative. That should mean the share price falls. So why does it go back up again? Because people think they can buy at a bargain level.

Thats why this is really a trading stock - but it’s not for the faint hearted as the share price trend means that you lose in the long term ( like Roulette ). So you need to get in and out quickly IMO - either to take your profit or ( as i did last time ) cut your losss

IMHO DYOR etc

Lots of investors over the last 18 months thought it was a good time to buy in / it had hit the bottom.

Every single one was wrong. Take a moment to consider that.

I bought a couple of times during this - luckily got out flat on average over both trades as i feared what was around the corner and wasn’t long for long.

Anyone buying now is doing so thinking they will make money. That is really an interesting psychological position against the evidence of the share price graph.

Fevertreeman - i am afraid thats not sufficient.

I doubt any II would invest in a company where Newland has a senior position. It’s not just that he has no credibility, it’s that he has ramped his own stock countless times ( you see it in the share price after nearly every update ). And he raises expectations only to disappoint. A charitable way to describe that is that he is unreliable. Other’s may use harsher terms.

We now have sub-£25m market cap. There’s also a lot of money to raise sometime.

The device is only for research anyway isn’t it yet people talk as if there’s this huge market. Thats probably why sales are so paltry - it simply reflects the level of interest in a product at this stage in development.

One thing i particularly hate is him always blaming ‘ market conditions’ as if a company so minuscule was affected by ‘ the market’. Pathetic excuses for failure.

Looks like the head of IR has left - because, guess what, there aren’t any II’s who have any interest investing in this company. And that means whenever he needs to raise money he won’t be able to ( because you can’t raise £10-£15m from the day-traders he so despises ).

By the way - please tell me that this company isn’t called Angle because of his initials. If he did do that he really is Nero isn’t he. Anyone know?

Anyway, i think this company is finished. Actually the writing was on the wall more than a year ago. Anyone still in denial needs a cold shower to wake them up as there’s more money to be lost on this share.

IMO / DYOR

I agree TG2D.

Even Newland has told us that sales will be peanuts this year. And he’s not pointing to that turning round any time soon. And I’ve never seen him err on the side of caution.

The reason they are cutting costs so hard is they have no confidence that they will generate sales to push up the share price anytime soon ( by which i mean. 6 to 12 months ). And beyond that time who can say.

This stock has gone down month by month by month. In my view it’s levitating at 10p. Only down from here - which is why i took a loss on selling last week.

IMHO etc

Doc - i don’t think he’s gloating. He’s probably here because he’s lost money and he’s annoyed - like me.

And i am actually annoyed by my own stupidity in buying into this ever.

Everyone can see what the CEO is made of. And i don’t think someone of that Claire will get traction with Pharma and nor can he rebuild Instituional support.

And that means he won’t make revenues and he will find it very hard to issue equity.

I sold out this morning - luckily i only had 75,000 shares.

So what TG2D is saying is ‘ watch out, there is every reason to expect this goes lower’

I happen to agree which is why I’ve cut my losses.

Simple rule ( which i broke ) - don’t invest where you don’t like the way the CEO operates. You will nearly always lose money.

AN has got what he deserved.

I bought a few at 11.5p and the only question is do i take the 1p profit? Probably the sensible thing to do - because when there’s 1p to be made on angle that’s usually the right call.

It’s gone 90% wrong already - i totally agree.

I was talking about limiting my risk if it completes its journey to going 100% wrong.

Anyone know if Andrew Holder is still Head of IR?

Yep - bought 75,000 this am. Not enough to hurt if all goes wrong.

I still have zero confidence in AN and his Board, but there is a lot of demand in reasonable size soaking up the seller(s).

So seems worth a punt simply to see if there’s a pop when the seller is out.

He doesn't seem to appear on any releases since the interims.

Is Newland blaming him for Newland’s own poor performance and destruction of shareholder value?

If he had gone you would expect any proper company with a sense of Governance and commitment to good shareholder information to make that clear on the website. So i am sure he must still be there and his name has dropped for other reasons.

Anyone tried getting in touch with IR recently and spoken to him?

I thought it was 11p - but i expect you are more accurate Doc.

If they manage to hit 10.65p by Friday , Mr Newland can set off for his weekend satisfied that he has lived up to expectations.

And that’s record lows after hyped announcements.

And every time new punters get burned by the flaring share price when the flare burns out.

I have been wondering whether Angle could for once avoid hitting new lows post a hyped price spike . For a while it looked possible, but it looks increasingly likely they are on track to deliver.

It’s called ‘ swimming against the tide’ EC. Doesn’t usually end well.

We’ve seen how this plays out for Angle shareholders lots of times before - hype / bounce / excitement there’s a turning point / dissipation of demand / drop to new historic lows. It’s just that we haven’t seen the last bit of the cycle ( yet ).

Thanks you :)

It appears twice in today’s RNS. Or is it just sloppy proof reading? If so, it doesn’t suggest an attention to detail - i hope they pay more careful attention to the science.

Thank you. Interesting. I will take a look at Conifer.

Even with my low regard for this team - that is pretty astonishing. I can hardly believe it - except you have set it out so clearly.

Miavoce - here’s the problem as i see it and one of the reasons i expect Angle’s share price will underperform.

Even ignoring all the historic hype and failure to deliver, the main problem remains around funding.

Angle lost nearly £10m in the last half. And they have just over £20m of cash. Their run-rate losses are about £10m so prior to this update you could see them not needing to raise till mid next year. Now it seems they are going to burn through the £20m in something over 18 months rather than 12 months - that’s a very significant cut-back.

Why are they doing this? Because they know they can’t raise equity ATM.

Why can’t they raise equity ATM? Because the investment case is still jam tomorrow . And they need to raise, say, £20m ( my guess is that’s a minimum ) to get them through to cash-break even. And the market cap is less than £40m . So that’s a big raise.

So here’s my question to anyone better informed: what sort of Institutional backing does Angle have? I see Fidelity and Baillie Gifford - with 6% between them. They are blue chip. But i assume they have lost a lot of money ( proportionately ) over their investment. Worse than that - i imagine they have been as surprised as the rest of us at the lack of progress since FDA. I don’t know much about the two largest shareholders - but am not sure they are the people to cornerstone an equity issue. And i don’t think the PI’s can be relied upon.

So here’s the question - even if the story improves, where do they get the money they need?

If you can answer that question with confidence maybe it’s worth holding some shares.

And despite the relief at the interims that they now have cash till Q1 2024, the fact remains they will need to raise money well before that date. Maybe there’s 6 months before a serious focus on that issue re-emerges.

Very interested if anyone has insight on the position of Institutional shareholders.