The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
Hi El, logic agrees with your last couple of sentences but cannot understand why MMs want to lower and hold the sp. they should be trying to raise the sp in anticipation of positive news, and to recover some recent losses. makes little sense imo.
Silly situation El, I don't like things I cannot see clearly and the last few months have seen very strange sp positions. I don't have doubts about the prospects going forward but if the CE doesn't land and the sp doesn't respond but end September then a serious rationale will be needed from the BOD beyond just 'unforeseen complications'. I know progress has been made but it almost feels like a year wasted so far, we don't need many more weeks to follow suite.
Really understand your frustration adrianz but what a shame it would be if after all this time you bailed just before the CE! I think the results will need to be accompanied with a lot of detail this time around rather than the bland offering of a year ago, patience can only go so far. Any decent BODs needs to earn and keep the trust of its investors, not least when the Company is a fledgling, so let us have honesty, detailed information and no jam tomorrow promises. I remain committed but I am not entirely blind.
I like this El, and it poses a couple of questions. How many shares do the MMs hold now, and what if anything are they privy to regarding the near future? It looks like there are around 2+mill of TBs left plus normal daily sales surplus since, so possibly around 3 million. That's not a lot to offset high demand on good news so shouldn't imo be a big drag on the sp. the second point is mute, MMs should not have any more negative info on the company than general investors... If there is market sensitive info the BOD will keep it tightly controlled and recent appointments together with LOI indicates that negative info is unlikely. AR has also specifically stated there are no real impediments to the CE and that it will be granted soon. So why the drift in sp, apparently engineered by MMs? I conclude, rightly or wrongly, that this is a combination of book balancing and normal information stagnation. Nothing negative for FDBK or TexRAD, though as has been stated before the BOD do need greater emphasis on communication.. Just my opinion, hopefully rational, and at present I remain confident. Whether MMs as comfortable is another question.
Morning Botak, cannot disagree with anything in your latest post. FDBK is by far my heaviest investment so for me it has to work, but even being as objective as I can be I do believe the positives of TexRAD will win through. The announcement following the results will be important and I really hope that AR spells out very clearly the road ahead for sales and development. CE should be in place by then and the sp will hopefully respond. Next 3 months very important for my belief and sanity!
Agree it's no bad thing to have balanced views, and Botak's are respected. However I cannot believe in this instance that the calibre of the team now brought together at FDBK is anything other than a strong intent to commercially develop a very valuable medical commodity. These people simply would not have signed up for the role if there was not a clear intent and purpose, we just need the darn CEMark to kick it all off. Look at the JV's ready to go, look at the international Agreements lined up....a lot of effort has been invested to ensure TexRAD is commercially successful already. It IS going to happen imo.
Good afternoon. Couple of months ago it was all euphoria with riches on the horizon, now all has evaporated and it's doom and gloom. What has changed...nothing in practice apart from a strong LOI new JV and upbeat comment on being close to the CE. Of course there has been a share overhang but once TexRAD gets clinical sales approval and further CE versions are announced there will be a shortage of shares at anything sub 5p imo. FDBK will then be highly profitable attracting a lot of investor interest, yes delays are infuriating but imo the message is still a strong one...as IF says 'keep the faith', the value and need for TexRAD has NOT evaporated.
Good afternoon. Couple of months ago it was all euphoria with riches on the horizon, now all has evaporated and it's doom and gloom. What has changed...nothing in practice apart from a strong LOI new JV and upbeat comment on being close to the CE. Of course there has been a share overhang but once TexRAD gets clinical sales approval and further CE versions are announced there will be a shortage of shares at anything sub 5p imo. FDBK will then be highly profitable attracting a lot of investor interest, yes delays are infuriating but imo the message is still a strong one...as IF says 'keep the faith', the value and need for TexRAD has NOT evaporated.
Certainly tests the faith doesn't it Bo? However it can't be too long now then we will see if there is a coherent sales strategy to unlock the value of TexRAD, if so then the sky's the limit imo...leading to your TO a year or two imo.
Thanks Toze, that's interesting and reassuring, I like the statement that the CE is being 'completed'. Ties in with AR's assertion that this should be 'soon'. FDBK shareholders have needed a lot of patience, let us hope that their reward is on its way shortly.
No action, no comment, no movement, buys showing as sells.... everything in limbo. Did a little top up this morning, couldn't resist at this level. AR 's definition of the CE being ready 'soon' could I suppose be anything up to a month or so, then I would hope to see some real action. Behind the scenes I am sure they are working like beavers, we will be the last to see their results, let's hope the wait is worth it.
Hi El, way way over my retired head but it does prove how valued TexRAD is by the research community and by extension will be in demand from clinicians. There is no doubting the market for this and given time FDBK will create a very valuable company. Acquire the CE and its all systems go, add in the JVs and other incarnations to follow Lung and you have a very profitable investment imo.
You are right Chaz but I believe new EC rules came into force on the 1st June (?) requiring new CE applications to include more/different work, so previous work would have required modification. Add this to the 'unforeseen' workload as the TexRAD application evolved and you can see how it became very protracted. However AR has now specifically stated that there are no elements preventing completion and the process should finalise 'soon'. I would hope this means August but Elartu feels September more likely, if it is the latter then we should expect a definitive update to accompany the results. Not too disturbed but certainly the sooner the better imo.
Just nothing of note for a few days now which is strange given the sp and I'm thinking some of those few sales are probably buys anyway. MMs have set a decent spread but are they looking for more stock or trying to offload what is left?.id be surprised if the CE is not acquired by end August so something has to give soon.
Good thoughts El. My feeing is that CE will be here inaround 4 weeks, don't think they will want to have to make extra comment regarding this with the results. If the overhang is only a couple of million then the CE plus decent results and positive forward comment would take care of that and some. Still looking for around 5p on CE and perhaps 7p with further announcements / JVs etc, by the year end. Next year would then be very interesting imo.
Afternoon El, no big trade announced so we are left believing there wasn't one. Must then have been a book balancing excersice last week, at some cost to MMs. Where does that leave us now though? I suspect in limbo until the CE mark, which AR says is due 'soon'. Do you still reckon most of TBs 11m are gone now? If so then there will be strong pressure to raise the sp on CE delivery, could easily bounce towards 5p imo and stay there...hopefully not long to wait now?
Afternoon El....very strange, there must have been a large sell but none yet reported. MMs would not have sold much of TB's shares at such a loss so what has happened? Are they perhaps doing a bit of book balancing ahead of an expected surge in demand shortly? The new senior appointments andChina deal indicate that TexRAD CE is not far away, which should raise the sp and settle the outlook. Be nice to look 6 months into the future.