Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
That RNS reads like a profit warning to me, all be it a fairly gentle one.
Shame, cos I thought the business might soon become profitable and I was considering buying a few, but I think I'll hold off until they issue a pre-close update
BB
7 or 8%, doesn't make a lot if difference how much he's holding Alf. If someone's upping their holding, then, chances are, soon after they stop, the sp will drift back down.
If memory serves me right, Lucas declared his crossing of a threshold pretty quickly last time, so it's looking unlikely.
I did wonder if it was just a Bed and ISA move, but couldn't square that with the ~7.5 million trades being over 24 hours apart.
They were probably WheelDS topping up ...
BB
Hmm.
Well, if that, and the previous 7.5m were both buys ( and they look like buys ), and they're down to Stuart Lucas ( which obviously I havn't a clue if they are or aren't ), then I reckon that'd take him above 8%.
I wonder if we'll see a holdings RNS to that effect ( relatively ) soon ?
BB
It's 120 days, normally from date of purchase, but, according to https://www.moneysavingexpert.com/shopping/visa-mastercard-chargeback/
Collapsed company
You book a flight or trip with a firm that then goes bust before you take it. The deadline starts from the date the flight was due to take off or the holiday to start.
To start a claim, call your bank card provider and ask to dispute the transaction. It can then start the procedure of claiming the money back from the supplier's bank.
Some claims CAN be made after 120 days, but the longest cut-off period is 540 days from the date of the initial transaction.
There's been a bit of talk over the last year or two about this, and I'm currently having a proper look through the report, and note the bit which says
"Ian joined the Company as Finance Director in 2007 and he has been very closely involved with the Company’s relationships and contracts with DSM, ByHealth and the Company’s investors over that time. Ian currently divides his working time between the UK and Australia, meeting frequently with DSM in Basel, and with By-Health at their offices in
Guangzhou"
So, in terms of his residence as documented at Companies House, I'd garner from the above that he spends enough time in the UK to be able to legitimately say that his country of residence is the UK, but, as Farmgal ( Bella ) has previously pointed out, he's spending a fair amount of time living in Australia
I don't think it's really that important where he spends most of his time tbh, but I thought I'd share the info anyway
BB
... and now we know why. Ford's bought just under 17k's worth for his kids
BB
Farmgal
Re "Not sure how they got signed off on a 6 month going concern??? BB probably better informed on that but it's normally 12 months...."
Strictly speaking, they havn't been signed off on a six month going concern basis, they've been signed off an the standard 12 month+ basis, but with a caveat that there's a material uncertainty on the going concern basis because of a known need for a cash call.
Granted, that's bloody unusual, but the auditors ( and the BoD ) have covered their arses with the Material Uncertainty statement, so, if they can't raise the cash, and the business folds, then no-one would be held liable
There's more detail in the Full Report at https://provexis.org/wp-content/uploads/2019/09/Provexis-plc-annual-report-31-Mar-19-FINAL-TYPESIGNED.pdf - see p25, with the main statement being
"Based on our work performed, management’s disclosure of the events and conditions giving rise to a material uncertainty in respect of going concern are adequately reported"
Plainly we're not for widows and orphans, but, to be fair to the BoD, it does seem unlikely that they won't be able to raise more cash, so although there's a risk , everyone should be able to make their own judgement on the size of that risk
BB
We're away at the moment, so I've only had a fairly quick skim of the results.
On the face if it, unless I'm missing something, everything is pretty much as indicated in the Trading Update and subsequent By-Health RNS, which, given they were fairly recent, is to be expected.
I think they've been slighty more specific on the timing of the next fund raise this time out ( in the coming six months as opposed to in the coming months ), which I'd take as a slight positive compared to the trading update.
I might stick the numbers on FF+ into a calculator later this week to see what sort of GM we got in the last FY, and also to try and work out what ( If any ) contribution it actually made to our cash flow.
BB
Gixer
Re "It doesn't really but why would they trademark it and have it next to the Fruitflow TM?"
I have no idea to be honest
But, unless I'm missing something, it's just a name ? I mean, it might have some significance in being able to market a product, or products, in Taiwan ( or whereever they're pushing Fruitflow ) but, while it appeals to the geek in me to try and work what it means, it does seem to be unlikely to be any more significant than, for example, Healthspan calling their product Circulease.
I used google translate btw, though, to be fair, it didn't seem to be consistent across pages, but, given NaoLuotong brought back stuff related to blood flow and stroke prevention, I reckoned there was a fair chance it was relevant !
BB
Farmgal / Sphinx
Just had another look, and I can't work out if Naoluotong is a specific ingredient related to tea extracts or a generic phrase !
e.g.:-
http://en.cnki.com.cn/Article_en/CJFDTOTAL-JZYB200203007.htm
https://cgcmart.com/en-gb/naoluotong-tea-extract-preventing-brain-stroke
https://www.maxnature.com/nacanluoto.html
At that point, I realised that, in the grand scheme of things, it probably doesn't really matter which !
Fair point on the reseller info Farmgal.
BB
Sphinx
I think you'll find that Naoloutong is a seperate ingredient, rather than a different name for Fruitflow
BB
Actually, that's 250k per penny, which, looking at https://provexis.org/wp-content/uploads/2018/09/Provexis-plc-annual-report-31-Mar-18-FINAL-TYPESIGNED.pdf ( page 21 or thereabouts ) is right, because 10 million of his options expired last August
BB
Wellsite
Re " I feel a little exposed at IF ‘s large number of stock options. If I am correct, every penny over 0.5p he bags 350k. So just 2p would be life changing for him"
The exercise price on his options are .55p, 0.972 and 1.846, so your 350k figure is only true for a sp north of 1.846
His options ( assuming he could exercise them all at the same time ) are worth :-
47k at 1p
132k at 1.5p
229k at 2p and then the 350k per penny has started to kick in, so
479k at 3p
729k at 4p etc
BB
Alf
I don't think they're any more acquisitive than many companies of that size, but yea, that's a possibility.
As I've said before, either on here or one of the other bulletin boards. I don't expect anyone to seriously consider making an offer for our equity till much closer to the end of the Alliance Agreement, so would be surprised if anything happens in the next couple of years.
From summer 2021, there'll be roughly a year left of the agreement, so the likes of By-Health and DSM might then be running their slide rules over us to see if they could make a decent case for putting an offer in for us at whatever our market cap is then. Can't see 'owt happening before then though.
BB
Well, this is good news, it's not great news, but it's defo good news.
Firstly, it will help with By-Health's submissions for blue cap status and secondly, it confirms what we got in the trading update, in that it won't negatively affect our cashflow.
What comes next, over the course of months, and maybe even two or three years will, hopefully, be :-
Very good news of a blue cap submission
------------------------------------------------------
Unless I missed it, the last trading update gave no indication of timescale for submission, the last timescale we were given was in the Interim report for one submission in Feb 2019 and another later in the year. Plainly the former must have slipped, otherwise surely we'd have been told about in the trading update ?
Excellent news of Blue Cap status's being granted
------------------------------------------------------------------
As has been said, these will take time, so it'll be a waiting game. No-one really knows how long they will take.
Great news of enough money coming into the company to make a difference as a result of the above
----------------------------------------------------------------------------------------------
For the company to be taken really seriously by many investors, they'll want to see cash, not jam tomorrow. Whether or not, and what sustainable level the sp will be at at this point will depend on how much money is coming in, how much that's realistically expected to increase by, and how well we control costs
BB
Sphinx
Re " the fund raising will be limited "
Yea, I'd guess that, to get the accounts signed off as a going concern, they'll be looking to raise in the order of 150 to 200k.
I think the chances of us getting much, if any income from China this FY is pretty low, and, even if they included it in their cashflow forecasts for 2019/20, I doubt the auditors would sign off the accounts based on the possibility of cash coming in on the back of ByHealth.
Can't see there being much of a problem raising that.
Beyond that timescale, IF orders come in at a multiple of existing sales, and those sales are at the same margin as what is currently being sold and the sales / profit rising don't affect our profit split, then, all other things being equal, a multiple of 2 would cut our losses down to 150 to 200k a year and a multiple of 3 would get us to break even or a small profit.
If that happens, then we're looking much better. My only concern would be that the BoD might then use the extra cashflow to push FF+Omega and also use it to help launch FF+Nitrates ( which I rather hoped would be quietly forgotten about ). The last three years have shown, so far at least, that, though increasing the top line, it's doing next to nothing for the bottom line.
BB
Well, update now out and it's hard to see what caused the delay
Decent growth from AA revenue
Decent growth from FF+, but YoY margins will drop due to H&B ( the latter is me talking, that's not in the update )
Increased R&D spend
Similar loss to last year
Funds needed ( by end of year ? )
But, most importantly, they've changed the wording about the effect of Blue Hat from pipeline to orders, so, IF that happens, and DSM's margin isn't affected, then that should see us moving into profit.
BB
Tootight
That's a fair point, but if they expect to do something which is totally under their control* in June, don't do it, and then rinse and repeat in July, then they risk looking like rank amateurs. Hopefully we'll get a trading update of some kind tomorrow to show, if nothing else, that there's some semblance of order in the company.
BB
*plainly they might not be in control of what they might WANT to report on, but they're totally in control of issuing a trading update covering revenue from the AA and FF+, so there really are no excuses.
Taverham
The overall figure of 5 billion USD is being widely quoted in the news, for example https://www.bbc.co.uk/news/business-49026285
I suspect the 290 million GBP is a bit of educated guesswork based on what the company have said it expects the costs associated with the Max to be
BB
Jatw
Unless I've missed a holdings RNS, they're still sitting above 50% ?
By my reckoning, the underwriter has just over a week left on their option to take on the remainder of their shares, so, two or three days after that option expires, we should know if they've managed to reduce below 50%. If they end up still being above 50%, then presumably somebody, somewhere, will be due a bit of a kicking for misjudging the situation.
BB