Member Info for Clenchedcheeks

re cm22 : That's the most reasoned comment that I've read on here for a while.

Announcements of FDA approval from Belluscura were made way too soon in my opinion, for example in the TEK Capital Annual Report issued in May 2020:

Belluscura anticipates receiving 510(K) clearance from the US FDA in H1 2020

I still find it difficult to comprehend how approval could have been anticipated by that date when I now believe that the required devices hadn't been built.

The Annual Report issued on 6th May this year contained the following quote:

"Belluscura anticipates receiving 510(K) clearance from the US FDA in H1 2020."

Irrespective of previous deadlines which hadn't been met, I genuinely believed what I read. Here I am at 26th November wondering whether the H2 2020 will be met. If this one isn't met, I think that some at board level in both Belluscura and TEK should consider their positions and whether they've lost the faith of some of the shareholders.

I've been in here for many years and am not interested in the speculation, heresay or supposition that many posters seem keen to share. Instead I want to see the board deliver on deadlines and see genuine progress which is backed up by factual information not about market size, but by actual sales figures and progress achieved by portfolio companies. The only progress which I've seen so far is dilution.

Same old, same old. How many times is this now?

Re vusy: Those comments are all supposition

November is the year end date for Salarius. Let's have some updated sales figures next month.

Belluscura - not long left if they're to hit their latest H2 2020 deadline.

Lucyd - November is the year end date so lets have some updated figures next month.

The long term shareholders need real progress, not hot air.

This seems to be what Victor Manzanilla devotes his time to:

https://twitter.com/vhmanzanilla?lang=en

No doubt Audi will have invested considerable amounts of time and money into it and if they've not yet introduced it into any vehicles, one wonders if the additional distance generated was insignificant compared to the cost.

Whilst it's nice to see the continual pursuit of golden nuggets, it's clear from shareholder reaction to the RNS that TEK need to turn at least one idea into a success for investors to continue to believe. Especially before they come rattling the tin again.

I thought the low sodium salt might be the eighth wonder of the world, but clearly not.

No doubt a slight variation on the principle, but Audi's eROT system won an award for the same back in 2017. I could be wrong but I don't think they've used it in their e-tron:

https://www.vehicledynamicsinternational.com/features/vehicle-dynamics-international-awards-2017-the-winners.html

I agree. Very shabby and reflects poorly on all concerned at Belluscura and TEK.
Regulatory announcements form the basis of investment decisions and should be accurate.
Borderline misrepresentation on dates in my opinion, certainly given the slippage.

There'll be a fair few long term holders who are more than 40% down.

I can't help myself from referring back to this and another announcements and wondering whether the picture was as described. We are after all in September of 2020.

https://markets.ft.com/data/announce/full?dockey=1323-14124418-1PMG59MN0244NTFQ3MJ05MHFI8

The market appears to be seriously underwhelmed by today's announcement,.

Re : Steveiom

I agree with your comment that the recent announcement does nothing to instill confidence.

On 20th April 2020 TEK issued the following update regarding Belluscura,

"Belluscura’s first product, the X-PLO2R TM portable oxygen concentrator is currently awaiting FDA clearance, which is anticipated in H1 2020"

On 17 June 2020, Belluscura plc announced it is making good progress with its 510K submission
though it has been impacted by COVID-19 associated external supply chain issues which has
increased the scarcity of certain key components, increased lead times, and reduced capacity at part
manufacturers and testing facilities. Belluscura is in the process of completing the final surety tests
and anticipates it will receive 510K clearance within H2 2020.

Here we are, four months after 20th April still in the position where they're still completing final surety checks so how can they have possibly claimed in April that they were awaiting approval in H1 when they'd not even built the required number of machines?

I expect that April statement encouraged some to invest who may not otherwise have done so.

re Adamsky - I've no idea what the sales figures have been for Salarius since 1st December 2019 but I'm extremely disappointed by the first six months figures. I was expecting significant wholesale volumes to food producers in the early months as the executive team were in place well ahead of launch.

I'd dearly like to know what their salaries are because if the product is any good I'd expect it to occupy their time in its entirety, with no time for self promotion.

We need hard facts not generic answers or sweeping statements. The size of the respective markets is irrelevant if the product isn't good enough to acquire a sizeable share. The days where a broad smile and sparkling teeth produced sales are long gone, it's all about technical detail and what the product can do for the buyer.

The following RNS confirms the first despatch of Microsalt to be May 2019:

https://www.tekcapital.com/wp-content/uploads/2019/04/Salarius-launches-production-and-receives-first-order-for-MicroSalt-R-23-April-2019.pdf

The year end accounts to 30th November 2019 show total sales revenue of 2,557 USD

I appreciate that's a mere six months trading figures, but my local supermarket branch probably achieved similar sales of Table Salt in the same period.

What are this no doubt highly paid management team doing to justify their remuneration? Who are they reporting to?

This chap seems more interested in promoting himself:

https://twitter.com/vhmanzanilla?lang=en

Why don't the board show some belief in the company and buy some shares as we've done.

re: Vusy

I guess you're referring to me. I'm a long term and substantial holder but enough is enough with the BOD.

I've waited patiently whilst they've failed to meet targets on Belluscura (How can you tell the market that you expect FDA approval in H2 2019, then H1 2020 (In April 2020) when you don't appear to have built the required number of devices to get the approval?
LUCYD - The figures speak for themselves
Salarius - An absence of sales figures
Family members appointed - rarely a good idea

Interesting that they should issue the RNS on the day the November 2019 accounts are available and which show poor sales figures.

November 2019 accounts filed.

Whilst I'll reserve judgement until the November 2020 accounts are available, considering Victor Hugo Manzanilla was appointed on 1st August 2018, they're off to a very slow start in my opinion.

As shareholders we need answers to questions regarding actual sales volumes of Microsalt to wholesale clients and of retail sales of the Salt Me crisps. Whoever chose that brand name!

The November 2019 accounts have now been filed for LUCYD.
Total Sales Revenue of £77,153 for the year.
Marketing Costs alone were £172k
When will the Board of Directors come to the conclusion that enough is enough!

At a time when I'd have expected the development of Salarius to be occupying all of his time, this chap is managing to find time for his speaking engagements:

https://twitter.com/hashtag/vhmanzanilla?src=hashtag_click

Steveiom - It was the FDA who directed me to that so I'm hoping so.

Another day today where the number of buys far outweighs the number of sells yet it has no positive impact on the share price.