Member Info for BoringBernie

Formed in 1999 Alf. Listed in 2005 tbh, I can't imagine anyone's daft enough to take any notice of what Wheelie types. Hopefully revenues will grow, and real news on R&D and the pipeline will be forthcoming from the company which will awake some interest, but, in the meantime, Wheelie's post do at least raise a smile ! BB

It's total guesswork, but I'd be surprised if the combined income from DSM and FF+ was outside the range of 250 to 300k for the financial year 2017/18 BB

CB The "Happy Days" comment was a bit tongue in cheek, you should try humour occasionally ! Obviously the Provexis sp is pants, as has the market been in general recently, which has wiped about nigh on 30k off the value of my portfolio in the last couple of weeks. But tis only money BB *slits wrists anyway just to join in

Yea, I got an email from Ian shortly after the RNS came out. So he'd added 800k shares since August 2016, but still got diluted, so basically everyone was right ! Happy days. BB

Anyway, I've dropped Ian an email, so I'd guess the website will be updated at some point once he's got to the bottom of it

Alf Re "After fund raisings, his percentage has slipped below the 3%, so clearly he has added to his holding to keep it consistent. " Not really, well, not recently anyway McKeeve last declared a holding in August / Sept 2016 ( See http://otp.investis.com/clients/uk/provexis_plc/rns/regulatory-story.aspx?cid=1569&newsid=797999 ) At that point he held 54,026,064 shares, which was, at the time declared as being 3.1% of the company ( which it was ) The company's website, at http://www.provexis.org/shareholder-information/major-shareholders/ , still shows him at 54 million shares at 3.1%. The company's website is plainly wrong. That page says, as of 4th Aug 2017 ( roughly 12 month after McKeeve last declared ) 1,885,238,174 shares were in issue. If McKeeve's 54,026,064 shares shown on the web page is correct then McKeeve's % at the time was 2.9% not 3.1% ( 54,026,064 * 100 / 1,885,238,174), so something was defo wrong. All we can say wrt to the details on the website are either :- The number of shares shown for McKeeve is wrong The % is wrong or Both figures are wrong If I had to bet on it, I'd guess that McKeeve never noticed he'd been diluted down below 3% and neither Ford nor Buck could be arsed checking the details on the website were correct. BB

Kievsky Re "When we sell FF we sell in a batches which could be for 1 month to say 1year for orders to the customer. So revenues will/ could be destorted " Why would that distort revenues accruing to DSM ? They might not have received the cash from their customers, but they'll be recognising the revenue in their books. If they're recognising the revenue in their books, and it's standard practice to do so, then there's no reason why they can't be working out what our profit share is and passing it on. Even if they didn't want to pass the revenue on as pure hard cash, I'm pretty sure we could recognise the revenue due to us and record it under trade receivables. *disclaimer - i'm not an accountant though Anyway, HNY all, and, even if Provexis hasn't set my portfolio on light this year, at least the markets in general have been pretty decent in 2017 BB

Alf Re "... gets me wondering if there is some kind of smoothing of flows, otherwise the comment about revenues being at new, all time, highs wouldn't figure. " I think you've read the text slightly wrong mate. It says " the total projected annual sales value of the prospective sales pipeline for Fruitflow® now stands at a further new all-time high level. So, the pipeline's at an all-time high, but it'll take a while for the pipeline to turn into cold hard revenue. The 2k increase from the AA for H1 is poor. The info about the pipeline means that figure should increase, but it's still disappointing. The only other crumb of comfort on the AA revenue is that 90k for H1 this year is an increase on the 65k for H2 of last year At 34k, FF+ has done a bit better than I expected and is 12k up from 22k in H2 last FY, so ~50% increase, and has probably contributed just over 12k to cashflow ( 34 less 10 less 11 ) , which is a drop in the ocean, but better than nothing. BB

I don't know for sure, but I very much doubt it. I'd imagine the fact that we're quoted on Nasdaq would mean HCM doesn't qualify. BB

Alf Re "When a new Fruitflow product is launched, the likely initial effect is cash negative, DSM/Provexis contribute to launch costs" Not really. When it was changed in 2015, we were told "The Company's Alliance Agreement with DSM Nutritional Products for Fruitflow� includes a financial model which is based upon the division of profits between the two partners on an agreed basis, linked to certain revenue targets, following the deduction of the cost of goods and a fixed level of overhead from sales. Under the revised terms which have been agreed for the Alliance Agreement, the fixed level of overhead deduction from sales will permanently decrease with effect from 1 January 2015, backdated, thus increasing the profit share payable to the Company." It's hard, but not impossible, to square what you're saying with the statement about "... fixed level of overhead deduction". I'd say it's much more likely that your statement is incorrect. BB

There'll be an RNS this month when the Interims come out. The company can't, or at least shouldn't, issue a full RNS on a product launch unless it's considered to be financially significant enough to change the markets views on our turnover and /or profit / loss ( that's a bit of a simplification, but it's close enough ). They could issue a Reach RNS for the sort of info on the site about Elken, but, if they did that, and the sp spiked as a result, they ( were "they" includes both the company and the NOMAD ) could lend themselves to being accused of market manipulation ... because I dare say 95% of shareholders don't know the difference between a full RNS and a Reach RNS. We ( Provexis ) have a limited budget for advertising, and that advertising will only effect sales of our own product, which, at most, is only half the story here, and I'd argue it's much less than half the story anyway. BB

For once, a PME actually led to a meaningful uncrossing trade ( 1 million @ .67 ) ! There's a delayed trade of ~3.5 million @~.65 as well Mind you, we've seen these kind of little spikes before, but, hopefully, there's some real substance behind the move. However, I might set a limit sell for, say, 250k shares at a moderately silly price and see what happens. BB

Most of the people posting on UKOG are just looking for a quick trade. Nothing wrong with that like, but they're not going to be interested in a share like Bellway. I think the first batch of Bellway shares are now a "four-bagger" ( with divis thrown in as well ) but it's taken years for that to happen, and most posters on bulletin boards ( especially this one ) aren't interested in things which take years to give you a handsome return BB

btw ... I didn't have the genmab figures to hand, but a quick check shows they've been profitable since 2013, so, and apologies for being a pedant, that's a bit longer than "only just started to kick in" isn't it ? http://ir.genmab.com/key-figures.cfm BB

David Re "Incyte has sales in excess of $1bn p.a and they've never made a prfit, although like us, they are due to have positive numbers within the next few years" Sorry, but that's wrong. Incyte have turned a profit in 2015 and 2016. Admittedly the profit in 2015 was tiny, but they made 104 million USD in 2016, giving an eps of about 55 cents. I don't know where you're getting your info from for Incyte, but it's a couple of years out of date mate BB

Alf Fair answer. The whole RP is just how he is, and I think everyone knows that the chance of enough shareholders getting together to make any sort of impact is highly unlikely, so I think it's best just to let people let off steam if they want to, and then move on, especially if they're posting on another web site ! The BoD are well paid and should be happy enough to take criticism for any shareholders that turn up to an AGM. As for Mission, I'm generally holding between 20 and 25 stocks and comment on pretty much all of them over on iii, but rarely post on any of them on here, mainly because I prefer the blue side. Also, there's not much to say about them. Decent company, well run nice divi, seems undervalued, and that's about it, which is about the limit of what i've said at http://www.iii.co.uk/investment/detail?display=discussion&code=cotn:TMMG.L&it=le in the last twelve months or so ! BB

Alf While I agree with you on what you can get out of an AGM, how come you'd happily go to a Mission one, but not a Provexis one ? I'm a shareholder in Mission as well and noticed a few months ago you saying you'd like to get along to an AGM one day ( www.lse.co.uk/markets/shareprice/chat.asp?share=tmmg ) and meet a few folks. That's really all the likes of Kievsky are saying, they want to meet a few shareholders and talk to the board. No big deal really, and if it's good enough for Mission shareholders, how come you feel the need to denigrate Provexis shareholders going along to theirs ? BB For the record, I won't be going either.

Ah, sorry to hear that Davey. I don't know why, but I had you down as being mid-thirties or something like that. Although we're all invested here primarily to make money, it's also good to know that the company's work is likely to make a real positive difference to peoples lives who are victims of a horrible disease. BB

Davey Haha, I know what you mean about obsession, my partner reckons I'm a bit obsessed with Chi-Med too ! You been married long mate ? BB

Re " but does anyone know our operating costs" Strange question. They were ~2.2 million for 2016 and ~2.1 million for 2015, so they'll likely be between 2.2 and 2.4 million for 2017. Re "Further funding required" Yea, I'd agree with that, at current cash burn rates, some time in 2018 seems most likely for that. To be fair though, the last time they went to the market they raised funds at, or about, whatever the sp was at the time and I'd expect the same to happen next time round too. BB I've no financial interest here one way or the other