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I also agree that Elrico's blog is well worth a read.

Without talking about other companies. Valuations at this end of the market are often not factoring in future growth or are factoring in too much of it. This is why we (retail) tend to trade and invest at this end of the market. It is the inaccuracies that make us money.

If you take a FTSE 100 company, then teams of analysists are reviewing all aspects of its balance sheet, ratios, future growth, competition, margin, income, debt, like for like sales etc and then feeding teams of traders/investors the info who are all trying to buy/sell. Prices are rarely incorrect in the sense of trading at a fair multiple of earnings. Sainsbury, for example, is trading at P/E of 23.4

This end of the market the bigger players are not looking and often have rules that prevent them from investing in say companies with less than 50 million, 100 million market cap etc. Also, there is not a lot of information out there that can be analyzed as companies are in their infancy so do not have years of data to review. It is down to those that are buying and selling the shares to figure the price out.

With Integumen it is a turnaround story where like so many good ideas before it, the company did not realise how big its products and services were before the new team got involved. Previous earnings are a shadow of the future growth potential because everything has changed. Price, add-ins, team, etc etc.

The clearest indication at this level of price not reflecting potential yet is how easy they were able to shift the Venn shares onto new hands. Tells me what I want to know.

Good to see this start to move up.

UJO Flying - will RBD follow suit.

For those that believe.

Has to pop up soon!!

gjbrandon Friday 12 July 2019
Today is (well yesterday was) a very positive day for a number of reasons.

First, while it took days to complete the paperwork, it took less than 90 minutes for Turner Pope to place 30,071,428 or to be precise, £566,846 worth of Integumen shares for Venn. Being over-subscribed, there was demand for another 5 million, from one buyer alone.

I am deeply grateful for the support of long term investors of Integumen, not just to the single long-term investor who purchased 16m of the 30m yesterday.

The second thing I want to say is that I am thrilled for both Integumen, and Venn (now Open Orphan). Integumen was spun out of Venn in November 2016 and this completes that process.

It is no secret that Integumen had a very tough beginning since the IPO, but it survived only because it was fully supported by Venn with loans of £421k and third-party guaranteed loans. Our success is on the shoulders of the burden of support provided by Venn.

Before the Open Orphan reverse takeover, the timing of the Venn sale of 42m shares of Integumen back in April of this year was not great, but Venn was experiencing negative working capital pressure.

However, when Tony Richardson resigned and stepped down as Chairman, it was prior to completion of the Reverse Takeover of Venn by Open Orphan. There was a real possibility that if Venn needed to sell the 30m shares (sold yesterday) that, as Chairman of Integumen, he might be in possession of inside information, which would prohibit him from disposing of the shares. So as CEO of Venn and with a need to focus on the reverse takeover with Open Orphan, to secure the necessary funding, a potential conflict of interest arose. That led to Tony volunteering to step down.

After the sale of share, yesterday evening, I spoke with Cathal Friel, the CEO of Open Orphan. After congratulating him and his enlarged team, I acknowledged and told him how grateful we were for the support that Venn had provided, and was delighted that Integumen was able to provide a strong market as pay back for the assets, held by Venn, to increase their cash as they focus on a new direction.

Integumen is moving into Clinical Trials, focusing on skin-related diseases and I have no doubt there will be opportunities to cross sell and collaborate with the team at Open Orphan on new "orphan drug" discovery for skin related diseases, using the Integumen Labskin AI platform.

One last thing with the constant mention of warrants by private investors. Seriously? After 30m were sold in 90 minutes... You need to get out more. Have a great day, as it is a very busy H2 for Integumen.

I think the shares were spread across the existing players. A nice but small slice for each.

But the real news is we are seeing buying pressure each day and because of the orderly market share price has been suppressed. Either way this a solid adventure with a really good portfolio of exciting products and services combined with a board who are strong and an owner CEO.

He wants it to do well, and I think it will.

I had them down as negative on my notes so regardless of how high the share price goes. I am happy that they are no longer around and I can see why those on the sidelines might have been waiting for today's news to buy in.

exciting times!

whoop there it is.

lots of news lately.

I guess that opportunity will pass rather quick now. Be surprised if we don’t move up a bit quicker now.

Great! Venn out.

I think we all breathe a sigh of relief knowing it was likely at some point.

Gerard J Brandon
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@gjbrandon
34m34 minutes ago
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RNS out in the morning with details, but a little research on Integumen significant shareholders would provide answers. It is one large transaction and one single allocation to one buyer. No overhang. Done in less than an hour.

Looks like Peel have been working them through and explains why they were both sides of the book. That did not take long at all.

by the looks of it, explains why the price is free and moving.

Looking more positive each day.

Very happy to see it moving up, even if I am the only one here.

what you talking about it is 3 vs 1 and not much stock. Could move up