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Haven’t been on here for a while after Mr Carrot got upset .
But i love how TG2D sums this up :)
First thing - i agree it’s good news someone wants to pay for a service. Definitely good news. Can’t remember that happening too often.
However, we’re talking about $250k over some unspecified period for who knows what it costs to do. Maybe it’s loss-making? Some chicken feed contract that people are supposed to celebrate because it’s with a ‘ large Pharma company ‘ or is it a ‘global Pharma company’ ( Newland can’t help himself, can he). $250k! Let’s be generous and imagine he’s making $100k of cash profit from this ( which i doubt ), so he needs ten of them just to generate $1m ( otherwise known as £800k ) of cash. Meanwhile he’s burning through his cash pile.
It is indeed Newland’s first soggy lettuce of the year.
Sorry about that - a touch over-dramatic.
My point is that IR / building shareholder relationships is a fundamental strategic issue for Angle: they need to raise a lot of cash at some stage ( we all have different views on timelines ).
They failed to raise what they wanted to raise at the last raise ( and this i know for a fact ).
They have lost 90% for investors in that equity issue.
They have damaged relationships with all investors.
Nero has zero credibility with investors: That foolish interview after the FDA revealed a deeply arrogant individual whom no-one would wish to invest alongside.
And against this backdrop they apparently think it’s a good idea to drop the Head of IR and Jeffries.
Thanks guys. I thought so.
Nero should have made this clear on the website don’t you think? So why didn’t he? And why wasn’t there a planned handover to a new head of IR? I have my preferred answer to that.
But there is a possible pattern here don’t you think?
Davyuk - i am afraid it’s you who are deluded on this particular point.
No company gets rid of a broker like Jeffries for cost saving. It’s a max cost of £50k per annum and provides all kinds of helpful investor access and advice ( and often research coverage ). That’s peanuts.
So either there has been a big falling out over something we don’t know about. Or Jeffries has had enough and walked ( my view ). If by any slight chance and Nero has fired them to save costs then the ship is sinking faster than i thought and that’s even more concerning.
It’s one thing to disagree about stuff - actually quite interesting to do that as i have found with TomHuk. It’s another to accuse someone of being deluded when the facts are pretty clear.
BTW - TomHuk - any answers from Angle on whether the Head of IR is still there or not?
Take your point on institutions.
On cash runway - Q2 could mean April 1st 2025…… Probably does IMO given Nero’s track record! So it wouldn’t be wise for him to wait until there’s only a fiver in the bank to raise equity. That’s why i put 12 months on it.
Would be interesting to get an answer on the IR. And if he has gone you might ask why they didn’t do investors the courtesy of making that clear on the website.
On sales - my sense was that another institution had also sold - Baillie Gifford? - but maybe i am mistaken. I don’t consider Frontier as a mainstream institution. What this company has needed is proper support from leading UK investors - Schroders being a good example. My point ( perhaps not clearly put ) was that i have only seen sales from instutions like Aegon and no blue chips coming in. And when he needs to raise £20m in 12 months or so ( and that’s after hacking back the labs to save cash ), that’s not a great backdrop.
No TomHuk i don’t know either of these things for a fact.
But, don’t you think it’s odd that the Head of IR disappeared off RNS’s some months back. Why don’t you email him and see if you get a reply? My guess - he gave up / fell out with Newland as he was unable to make progress with Institutions.
On Jeffries - no small company in their right mind would drop them and keep Berenburg. If they had upgraded - eg got JPM or UBS in as a replacement - clearly that would be positive. But to drop like this looks to me like Jeffries walking as it does nothing but damage to Angle.
And the third thing - institutional selling - we can all see that but different people might have different explanations.
For me - you put those three things together and it doesn’t look pretty.
TomHuk
I would be very cautious.
It looks like they recently lost their Head of IR - but didn’t announce it.
They have just been dropped by Jeffries - the lead advisor and only one with any international standing.
And when they lose the broker they make another covering announcement. How typically Newland.
Smoke and mirrors.
I would take the loss of internal IR head and Jeffries very seriously indeed. And that’s on top of share sales by institutional investors. These are facts rather than Newland puffery.
BTW - i agree with you it would be fantastic if Parsortix works and saves lives. But Newland has proved himself to be a destroyer of value. He needs to be replaced ASAP. New team, new analysis of the opportunity and then maybe there is a chance to raise some money and accelerate. But with him there i really think this is heading for the buffers.
Well i hope it works out for you Tomhuk
I have lost over the years on this. Been tempted back in a couple of times and then got cold feet and sold back out of it swiftish.
In back of my mind i do still wonder whether it could take-off - and wonder about committing to a little investment. But for now, I am keeping on the sidelines - primarily because i have zero regard for / confidence in Nero. He just seems arrogant and non-serious. I just cannot imagine such a bumptious little twerp cutting it with the grown-ups and making commercial progress.
Serious investing requires the identification of excellent companies with strong management. They tend to increase in value over the longer term - even if you overpay upfront.
However, poor quality companies with poor management tend to do the reverse.
I would suggest that the evidence places Angle squarely in the latter camp. As Feverman posted a few weeks back ( to my total amazement ), Nero and his friends on the Board have blown through £100m over the years with no material turnover to speak of. If you are an investor that should really make you think quite hard.
If you are interested - i am a long term investor. And when i am very lucky i buy in at cheap prices. But that’s a bonus when it happens.
But any long term investor in Nero has lost money. Actually - an enormous percentage of their original investment. Look at the CEO and his track record of forecasting the future. That alone is sufficient to avoid this share.
Since it is up 20% since i bought with zero hype and zero ramping i conclude that i was right to think it was undervalued.
Carrot - your bet is already looking pretty shaky.
Those who bought in at 13.5p last week looking at nearly 20 per cent paper loss already.
Amazes me that people still pile in on a Newland spike.
The Newland spike cycle is the only reliable thing about this company.
….and it was a disaster, a sign of total failure by Nero and his ineffective mates on the Board.
But today it hits 12p and it’s treated as an enormous achievement. A sure sign of Nero’s brilliant strategy coming together. Clear signs that fantastic commercial deals will be signed any minute. Big Pharma straining at the leash to get involved.
People believe what they want to believe.
That’s why these Boards are such fun.
PS Beware the rinse and repeat that longstanding readers might have noticed once or twice
I love your enthusiasm Carrot :)
When you talk about ‘ another major investor’ coming on board have you forgotten that the previous ‘ major investors’ lost confidence in Nero ( presumably tired of his rinse + repeat) and sold?
I will bet you no major institution will buy into this. It’s all day-trading. We can review in, say, March if you like.