Member Info for BoringBernie

You get the recommended dise from three tablets a day of the Swanson, as opposed to one tablet a day of the Circulease, so they both provide 30 days worth of Fruitflow.

Or, to put it another way, the Circulease is cheaper

Veggies are catered for by Healthspan ( among others )

https://www.healthspan.co.uk/products/circulease-with-150mg-of-fruitflow#/?pack%20size=30

BB

An increase in revenue of ~80% on revenue ( from the previous half ) accruing to us from sales of FF+ would, if Bella's estimates turn out to be accurate, be mighty impressive, but, mainly because I'm expecting the bulk of any extra packets sales to be coming from H&B, at, to us, a much reduced margin compared to direct sales, I'll be pleasantly surprised if it's anywhere close to that.

Waving a wet finger in the air, I'd guess our H1 revenues of FF+ will be between 65 and 75k.

Very nice to, for whatever reason, see the sp rising. Hopefully it's sustainable and finds a new floor.

BB - holding at the moment, but might, just in case, bank some cash if the upwards trend continues

Bella

Fair enough. When I read your original post I assumed ( wrongly by the sounds of it ) that you were talking about buying Fruitflow from DSM, as opposed to buying FF+

You won't be surprised to know that I too, am deeply underwhelmed by FF+ sales and their ( so far at least ) minimal contribution to our bottom line which currently is doing little more than keeping some people a bit busier than they would otherwise be

BB

I thought the general consensus was that FF+ was a generic kind of product which we'd piggy backed onto and branded under own name ?

If that's the case then I don't think we need to be concerned about "minimum orders" of Fruitflow from DSM ?

It'll be no surprise to people that, as far as us selling it goes, I hope the FF+NO product gets canned. Sales of FF+Omega3 havn't exactly set the world alight, so it's hard to see the justification for another FF+ product.

Incidentally, if my memory serves me right, mid-December, rather than late December has been pencilled in for the Interims ? Having said that, I can't see anything in an RNS to that effect, so I may have dreamt it

BB

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
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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
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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
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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