Member Info for CliffPeat

Voted NO for my 50k

If your holding is with **Hargreaves Lansdown** log in and go to "My Accounts" and scroll down to "Shareholders meetings". Sets out the proposals and takes seconds to complete.

Please do it NOW - even if it seems a futile gesture. This fiasco is being resolved by an unfair (to PIs) and pre-planned scheme in my opinion.

It defies any simple reality check that "...It is now clear to the Senior Leadership Team that the Company has a substantial backlog of creditors".

Of course the previous SLT was aware of the liabilities! (There should be a way of holding the management to account (of course, there "should be" !!!))

JLC's "other company" SourceBio International Ltd held £5+m cash at 31 Dec 24 after paying out £19m dividends. Until 2020 Harwood had held between 25-50%.

This is now a corporate "game" with the muscle to take the company in any direction that will profit just a few players - almost certainly that doesn't include PIs.

The fact that the company appears to be helpful for "society/patients" is just a warm value proposition aspect informing the spreadsheets that probably set out the likely outcome scenarios.

That's my opinion. But what's that worth? - I invested didn't I?

Whilst waiting for the outcome of the share suspension this afternoon I asked ChatGPT5(thinking) whether it could find any public record of a "famous person" having had a medical procedure using TRX technology. This is what it reported (usual AI caveats):

START:

*Prompt* - TRX Tissue Regenix have developed proprietary "dCell" and "BioRinse" and "Dermapure" and other products. Can you find any reference suggesting that "famous/well known" people have undergone medical procedures where these products have been employed

ChatGPT said:

Thought for 26s

Short answer: I can’t find any credible, on-record mentions of well-known public figures (celebrities, elite athletes, politicians, etc.) having procedures that explicitly used Tissue Regenix products like DermaPure®, dCELL® vascular patches, BioRinse™ grafts, or OrthoPure® XT. Public materials stick to anonymized case studies and clinical evidence.

What I checked (high level): Company materials and case studies (e.g., DermaPure posts) feature de-identified patients; no famous names disclosed.

tissueregenix.com +2 LinkedIn +2. Peer-reviewed and clinical sources name the products but not patients. PMC

News/press around product approvals and trials (e.g., dCELL vascular patch CE mark; OrthoPure XT launch) don’t mention specific public figures.

Telegraph +1

Why this is likely:

HIPAA/GDPR and standard practice: manufacturers and surgeons rarely publicize identifiable patient info without explicit consent; when high-profile patients are mentioned in media, the brand of graft or allograft is almost never named.

If you’d like, I can: Keep an eye out for any future interviews or surgeon disclosures that explicitly tie a named person to these products, and surface them if they appear. Narrow the search to particular sports teams, surgeons, or clinics you suspect might treat high-profile patients.

Confidence: High that there are no publicly documented, credible references naming famous individuals and explicitly citing use of Tissue Regenix products as of 22 Oct 2025.

END

I still think that the potential of marketing to potential end-users (prospective patients) would be worth exploring. Assuming TRX survives as an independent quoted company, of course.

@James31 That's interesting and thanks for sharing. As of now (15 mins delayed) it changes the "sales : purchases" to about 60:40

Perhaps @GinandMilk will be less depressed?

None of us "hold" or "added" holders will be really relieved until the sp moves upwards on some positive and credible news.

I've spotted detailed case studies on LinkedIn of procedures using TRX products - aimed sensibly (IMO) at medical professionals.

What I haven't seen is any well known names of sports or entertainment people who can endorse TRX from their own experience.

Of course, there may not be any (who are willing to share their experiences). But if there were - and if the endorsement was positive - I suspect patients would be asking for TRX whether or not the medics were fully aware of the product range.

The website shows a business model that includes expansion of its distributor network - but nothing about driving consumer demand. But what do I know - being just an accountant.

https://www.youtube.com/watch?v=p0pR-8q8o1Y is worth a watch to see the new CEO in action and to learn of SourceBio's relationship with NHS and private hospitals. So he knows the marketplace - and SourceBio's group 2024 accounts worth a read (inc. final note 44 and 2023 disposal). https://find-and-update.company-information.service.gov.uk/company/10269474/filing-history

And just 2 exec directors - Jay and Angela Barlow CFO - perhaps a winning formula?

The possibility of a "reverse takeover" went through my mind - but who knows what the grand plan is?

DYOR

John Carey is not exactly "betting the house" on TMG - £6k ? It (maybe) does not send the message to the market that he hopes?

Just my opinion.

Thank you for your interesting and useful posts @Icecool. I agree with your comments about the naive and negative "for sale" debacle.

I ran your last two comments through GPT5-Thinking and asked "Please comment on the accuracy of these comments and whether they represent a balance view of the Regenix prospects for recovery of share price."

It responded with impressive detail using many sources including FDA, the company and numerous commentary sites. This board won't allow for the full output and with reservation, I post the summary. So without the detail.

START:

Bottom line:

The post is optimistic and mostly grounded on the tangible catalysts (OrthoPure® XT MDR/UKCA, direct-channel expansion, ISO 13485 effort, adj. EBITDA), but it over-asserts two points that aren’t evidenced in company releases: (i) an FDA audit “closed with no observations” and (ii) CFG/export certificates “starting to move again.” It also assumes margin snaps back above 50% once yields are fixed—reasonable, but not guided. As a view on prospects for a share-price recovery, it’s a credible bull case over 12–24 months if execution (yields, ISO 13485, continued approvals) lands—and especially if the direct channel scales—but it’s not fully balanced on cash and the uncertainty around regulatory timing.

Confidence: Medium. (Most points validated from the company’s RNS/Annual Report and reputable coverage; two claims appear to originate from investor chat rather than official disclosures.)

END

Perhaps, if I had researched this stock more thoroughly, I could have added prompts about the FDA audit and the CFG/export certificates.

We may need patience to validate your conjecture. And as ever, investors need to do their own research - but AI can assist enormously.

Thanks again

A rather muted update for H1.

- New account gains offset by "continued challenging trading conditions in Consumer & Lifestyle."

- Expectation of additional consideration from sale of April 6 was £1.9m less than provided in 2024 accounts

- Net debt up £4.6m cf. 31 Dec 2024

- Full year 2025 projected - "Headline operating profit £8.5m cf. £9.1m (inc. April6 £1.5m) - so an increase on "continuing operations.

It seems to me that if expectations are realised and reorganisation savings come through, the net debt at 31 December 2025 may be reduced again (good) - but not a substantial leap forward. I'm hoping that they are being conservative in their outlook so that there is a chance of "over-delivering".

In my opinion the share price doesn't reflect the stabilisation of the finances - but the market may not be convinced until dividends resume.

DYOR

A rather tired looking Simon Tucker. My notes concur with @houndog10 and a few other points like Phillippines legal action and recruitment:

Simon Tucker CEO

In context of Trump’s tariffs – no significant impact. Brought forward web-cast because of this and effect on lowerijng share price.

SRT’s actions:

"Anticipated this – independence offered to regional governments. No effect on coy except for US transceivers*. SRT financially strong – up front cash plus share raisings.

Transceivers: Different mandates around the world change plus Int’l MO for big ships – continual stream of demand.

Typical leisure market – 40ft boat for inter-coastal sailing – wealthy owners of expensive boats – expect that market not to be affected by downturn. Very small boats are a small and slow growth sector – not material.

US market /o £1m pa – price will bear tariff.

Transceiver channels to market:

White versions for major brands

Em-trak own brand 5k resellers – retro-fit market

DAS for buoys – good reputation

Nexus will start shipping “some time” in summer.

1500 units in the first production run. Polishing UX. Market will expect “polished” on a par with other integrated phones, cars, watches etc..

20 test customers using today. Could launch now but Nexus is a market-changing product and want to get it right. Market through dealer base not web – more effective and saves on marketing cost.

Systems. Integrate maritime – fisheries and coast

£383m, contracts. Half1 delivered £25m.

Integrating main SRT fisheries systems with C&E, Navies etc. and other agencies.

£1,2bn opportunities. May contract one or two this year.

UKAF Indonesia. Conditions precedent being completed and should be soon.

Aggressive recruitment drive to build skeletal crew. Delivery team under stress. Preparing for growth.

Next 6 months all about delivering in Asia and Middle East – fast but careful to maintain quality and reputation. Milestones being achieved daily – financial milestones perhaps quarterly.

Just the start of success from the long built foundation.

Philippines allegations – ST happy with coy approach and expecting satisfactory outcome.

Staff coping with current contracts but recruiting is planning for future.

If any other questions – email directors or NEDs. Come and see SRT if you want 😊

Why haven't the directors invested more substantially in the company - do they know something else that we don't?

after yesterday's rise (and having had one eye on miri over the years) i asked chatgpt4o about adoption, uk players and monetisation. of, course you shouldn't "believe" everything it delivers but a few basic extracts might be of interest to investors.

start (extracts only)

1. is it being adopted widely?

adoption: moderate and growing (confidence: 8/10)

a. streaming platforms like netflix and amazon have experimented with this. amazon prime video, for instance, has started offering virtual placements in some content.

b. startups like mirriad, ryff, and triplelift are developing the tech and working with brands and media companies.

c. youtube and influencer platforms are also getting into it, as dynamic ads in creator content become more feasible.

this is still emerging, but it’s gaining traction fast because:

a. content is increasingly global (static product placements don’t scale well)

b. ad fatigue is high; this blends ads more naturally into content

c. creators and studios want new revenue streams without disrupting storylines

mirriad advertising plc

overview: mirriad is a uk-based leader in virtual product placement, utilizing ai to seamlessly integrate branded content into various media formats, including television, streaming, and music videos.

monetisation: impression-based pricing. mirriad has api integrations with major ad platforms so buyers can book inventory programmatically.

[monetisation] licensing & rev shares

tech providers (like mirriad) license their tools to studios or networks and take a cut of the ad revenue.

[other uk players]

ryff, triplelift, amazon [linking to its retail platform],pea**** (nbc universal), kerv intereactive, zebracat, rembrand, "

end

a thought - do you think that amazon or other online retailer might buy miri whilst its capital value is probably way less than development costs of own systems?

as ever, do your own research and read the informative posters on this board. hope this is useful.

To answer my own question, I think today's announcements are a direct result of DM's involvement - so "YES".

The share buy-back details take some digesting (deferred by me for now) but on the face of it seem to suggest that TMG will effectively make a market in its own shares when the Board believes the SP is below the net value of the business. Could this be, f or example (only), in the region of 40pps?

I need to check this out and would welcome the views of others.

The value of April6 to TMG seems to be greater as "cash now" than the contribution it is making to profits - so a well chosen deal to cash in the goodwill premium - whilst wishing the new owners good fortune in the States.

As ever, just opinion and DYOR

An encouraging day for TMG - finishing up 13.5%

I bought some more because David Morgan has a track record of getting this conglomerate of marketing talent back onto the track.

Looking at the historical SP chart and the detailed reports and accounts suggests that substantial cost savings have already been found and implemented and some hard pruning of the substantial intangible assets on the balance sheet has already taken place. Until the summer of 2023 the SP hadn't been below 40p (and historically far above that figure).

If DM can consolidate a robust profitability throughout the group then the burden of the indebtedness would lighten quickly and give the market confidence and open a range of financing options including perhaps a further share issue. That at least would knock out the considerable interest cost being incurred at the moment.

Just one month to go for the FY 2024 - so not long to wait to see if the ship has been steadied.

As ever this is just opinion and DYOR

Insight into what went wrong with ZYT and the view that a sale [at the right price] would probably be the best outcome for investors. Might help investors think about whether to buy - or not - at this late stage.

Mark Atkinson (shareholder too) on YouTube.

https://www.youtube.com/watch?v=3iY_AiqNts8

It looks as if the 6.3% might have been Peter Gyllenhammar exiting - if so there will be an RNS soon

And this time in earnest adding another 6.3% bringing holding up to nearly 19%

Are they looking for a company sale or liquidation?

@Rpmcc: I don't think so - (reference BYOT.L which went private earlier this year).

Some buying by Peter Gyllenhammar AB and Henry Spain IS might suggest that they envisage a sale or liquidation.

In my view, the main short term objective is to block the "Transformation Proposal" which is long term and carries substantial risks.

Just my opinion - DYOR

Henry Spain Investment Services added and now holds 11.28%

Ex non-executive director John Walter still holds 5.04%

And PG has added and reported 6.29%

Does this suggest confidence in the Transformation proposal OR that a sale or liquidation will yield a profit in the near term (maybe next 9 months)?

DYOR.

The further investment suggests PG sees future value in ZYT. He is Swedish. See his investment criteria.

UK Dellner Glass Solutions Ltd ultimately owned by Dutch BV but with Mr Dellner as a major shareholder - he's 75 next month. He is Swedish.

I wonder if Zytronic is on Dellner's possible acquisition list? Though why?

DYOR and just conjecture on my part.

Today's update suggests that recovery may be some way off but good to hear of the interest in the company's products and technologies at the Expos in the last 6 months.

Even with the dip in sp today, I'm not inclined yet to invest further in ZYT until the "green shoots" of recovery are visible.