Member Info for BoringBernie

That was hardly worth saying once by me, never mind twice !

Wellsite

Re "looks like loose ends and tidy up ready for BH to make their move to me"

I guess it's your one great wish for Provexis, but I can't see us being taken over by ByHealth in the short to medium term. Putting in place contracts with a supplier ( us ) for Jan 2023 doesn't sound like the sort of thing that ByHealth would do just before making an offer for a company, but wtfdIk ?

BB

Wellsite

Re "looks like loose ends and tidy up ready for BH to make their move to me"

I guess it's your one great wish for Provexis, but I can't see us being taken over by ByHealth in the short to medium term. Putting in place contracts with a supplier ( us ) for Jan 2023 doesn't sound like the sort of thing that ByHealth would do just before making an offer for a company, but wtfdIk ?

BB

All sounds very positive and you'd hope will help turn us into a profitable business next year ?

Presumably we'll have to employ someone to manage the interface to our, new to us, customers.

I guess the only downside is that it means DSM no longer see spending money on developing FF as being good use of their capital, but our link up to DSM over the last 12 years hasn't really worked out as I'd hoped, so it's hard to see any great loss there.

BB

DP64 - I doubt the merger / takeover will make any difference to Fruitflow one way or the other. I know next to nothing about Firmenich, but, at first glance, there doesn't seem too much overlap on the human nutrition side ?

As a long term holder of DSM, it's nice to see the positive market reaction ( especially as the last six months havn't been great ) though.

BB

https://www.creator-innovator.com/en/overview/

Wellsite

The likely option price would be either 0.3p or 0.55p, and most likely a mix of those with the majority at 0.3p.

I think you're right that the most likely reason for the second trade is a transfer.

BB

Hi Millie

Pig used to post on advfn as millethedog.
Hell of a coincidence that !

Sorry to see you're selling up Davey. I remember, from what you've previously posted that as well as losing your first wife to cancer, you've had a brush with it yourself, which you're hopefully clear from now ?

If an investment, or anything else in life, is causing more problems than it's worth, then walking away is no bad thing.

From our ( remaining holders ) perspective, I kind of hope history will repeat itself and, like it did last time you sold up, the company's share price will start to reflect the company's progress, with the ideal situation being that whereever you reinvest does equally well.

I presume your holding will be in 6 or 7 figures by value, so It'll be interesting to see how easily, or otherwise, those shares are passed on on AIM and the US.

Take care, and good luck.

BB

I continue to hold :)

I'd guess the "unforeseen circumstances" bit is just standard boiler plate text that they use when a meeting's moved, and means next to nothing.

M8nd you, delaying results while they're audited always makes me a tad nervous. If it's not just dotting i's and crossing t's they should have informed us about potential issues though, so I'm working on the assumption that it's just an administrative issue.

difficulty has two f's mate.

... and yes, I know I should f'in f off !

BB

There's probably some value in the current share price ( 59p ) which values the company at roughly 80 million. Given the revenue for the FY was just shy of 63 million, that seems decent value.

On the other hand, cash is still being burnt, partly because of the capex on the factory so more cash may be needed relatively soon, and the old adage about "Turnover is show, profit is dough" is always valid.

Tough call, but I've bought back in recently.

BB

Nice one - thanks Gixer.

Dr Horrible : Where do the "prompt" and "timely manner" quotes come from ?

I don't remember seeing them in an RNS, and, though I could have missed them, I did a quick check and couldn't see them.

BB

Better than I expected, with ( adjusted ) profits >= 12 million and net cash > 15.4 million.

So, the sp is roughly 10 times expected ( adjusted ) earnings with increasing net cash and a market cap of 125 million.

The big question is how much more is there to go ? If growth continues, then the sp should really be higher as time goes on, but if profits stagnate, then we're pretty much fairly valued.

BB

The full details of the trades are at

https://www.londonstockexchange.com/stock/PXS/provexis-plc/trade-recap

and suggest, to me at least, that DP64 is likely right, that it's a swap between two holders.

BB

WS - maybe he has, but the Chinese havn't updated their website ?

Both options are possible.

Well, there were no surprises in the Interims, so it's very much "As you were".

My best guess on Blue hatted FF products being sold in China is 2023, but there's oodles of cash in the bank, so that's fine.

HNY for tomorrow to anyone that bothered reading this far !

BB

Seems to me that some people are jumping down a poster's throat because they perceived the term "middleman" as negative and took umbrage at that.

If you own the IP, and act as a middleman, that's actually acknowledging your limitations and, almost certainly, maximising your returns. But if you're a bit paranoid about stuff posted, you might not see it like that.

See also https://dictionary.cambridge.org/dictionary/english/middleman

BB

Holland & Barrett are big players in the UK market, but FF has hardly been flying off their shelves, or at leas5 not enough to make much difference to us financially. I'm sure if they thought there was a return on a huge marketing push as per Wellsite's wish, then they'd be doing it.

It's sad that H&B sales have been uninspiring, but I think we gave to accept that, in the short term at least, the UK and Europe aren't going to make us rich, but ByHealth see their area of the world as much more promising.

BB