Member Info for colbaltblue

Didn't take long for my last one to be reported by the usual suspect!

Any comments from the acolytes about another terrible week on PXS?

kievsky,perhaps you should ring IF (long distance?) and ask why he hasn't bought any since Jan 2016?

Same here.Might as well make use of the offer whilst available!

Ok Alf, let's politely look at some FACTS:

You said this earlier when referring to your conversation with IF:

"He sounded offended by some of the comments, which were at complete odds to the reality of the situation."

Ok,the reality of the situation are the facts presented in the prelims and I don't think they fill most of us with much joy.
The only people who might be happy with reality are those being handsomely rewarded as shown in the accounts.

I do agree that there could be more to be happy about in a couple of years if FF succeeds in China but having a good product is not necessarily enough to save a Company.

1) We received £8k more income than 2017.
2) The overall loss was reduced by a paltry £6k.
3) Nearly 2 bn shares in issue.
4) More fundraising needed in the coming years.
5) Massive increase in total staff costs from £264k to £347k. After stripping out option costs emoluments still went from £220k to £241k or roughly a 10% increase.
6) Unknown funding for the MOU with By-health.
7) The apparent failure to do a deal with a global named food producer.

I don't think the reality is that great;do you?

Did you ask him about his domicile?

"He does say that any serious holder is welcome to talk at an agreed time. I found it helpful in respect of defining and explaining certain wording from the update."

I think most of us already know what the wording means.

Yes, indeed but all I can see is an endless desert with not a tree in sight!

On the major plus side, Fruitflow is a super product which has helped my general health enormously.I hope someone will continue to produce it when Provexis have gone to the wall. My hope is for a buyout from DSM to put us out of our misery.

But we have a major drain on the business caused by the 4 people that make up the wages bill. This has increased from £264 k in 2017 to £347 k in 2018. Some of this is due to options which I don't fully understand but I'm sure they've looked after themselves. This is immoral but not unexpected on AIM.

In round and rough terms, income will have to increase by 50% pa just to pay the wages bill so no wonder losses are envisaged for y/e 2019!

How is it possible for lifers such as me to feel anything else than anger for the people who feed at the trough but have destroyed the Company?

I'm in a few AIM stocks and, at present, I'm struggling to think of one set of Directors/CEO's that I trust. In general they take too much remuneration, spin yarns and generally fail to deliver on promises..

I must set up some sort of AIM Company. It seems like an easy place to make money provided you're not a shareholder.

I've had results from PXS (crap) AMC (iffy) MXO (iffy) this week.

For Christ's sake, can NIPT break the trend?!

So here we are. Very little debate and an air of resigned apathy. Complete silence from Alf and blind optimism from Wheelds.

We now have a situation where the sales of FF+ don't even cover the wage bill and any income from China looks to be 2019 at the earliest. We have lots of proof that the product works yet the marketing has failed spectacularly and DSM have not been able to find the elusive end userand seem no closer to that goal despite the bi annual cut & paste to the accounts.

More funds will be needed, especially to fund the MOU so that uncertainty lies over us all the time.

Provexis represents AIM at its very worse IMO.

Courtesy of BB on ADVFN.

https://www.ii.co.uk/discussion/t/provexis-finals-2017-18-my-thoughts/1144676

Not forgetting that the Company is not even making enough money to pay the wage bill and is unlikely to do so for years at this rate of "progress"!

Wheelds, I don't share your optimism re China at this stage. This is what the accounts said:

"& Planned launch by BY-HEALTH of a number of Fruitflow based products in the Chinese market progressing well, with two studies successfully completed, one study currently ongoing at a clinical site and three further planned human studies confirmed by BY-HEALTH. The two completed studies (a human study and an animal study) showed excellent results in use for Fruitflow .

The six studies outlined are being conducted at BY-HEALTH's sole expense, a substantial investment in the Fruitflow based products which BY-HEALTH plans to launch in China. Studies conducted in China are needed to obtain 'blue cap' health claim status for dietary supplements, as required by the China Food and Drug Administration (CFDA), with BY-HEALTH intending to make the relevant submission to the CFDA by the end of 2018.

& The MOU for a research and collaboration agreement for Fruitflow between the Company and BY-HEALTH, a £3bn listed Chinese dietary supplement business, remains on track with the research project now scheduled to take place in the first half of 2019, effectively being a seventh BY-HEALTH study"

My interpretation of these three paragraphs is that there is a degree of bureaucracy to overcome before any products are ready to sell and are any products anywhere near ready? Provexis also has financial commitment under the MOU so how's that going to be funded?

I don't know about the big hype around the H&B launch.There's a bewildering array of products to chose from and a small but devoted following of Fruitflow. They will need to push the story which, to date, has been a spectacular failure.

I really feel that your optimism knows no limit!

Yes, of course. Redprince on Advfn is trying to do something about it.

Presumably the same group as before but I don't know how it works because the placing RNS mentions new investors.This often happens with struggling companies because there's no money to pay for a rights issue or a placing among the plebs like us.For the life of me, I can't see the attraction of putting more money in here but evidently there are people who think there's a return to be made.Both the May and the July placings were made at 0.050p so those placees are currently out of pocket and for people with money to spare, i would have thought that there's money to be made elsewhere rather than wait years for a possible income stream from China.

Correction........2000 shares!

Someone's confident buying 4000 @ 0.040p! That's about £15 before fees!

Come on Alf, I thought you would have put the case for the defence by now!

A quick read confirms the usual poor performance as expected.

An £8k increase in revenue more than gobbled up by the snouts in the trough who see their remuneration increase from £172 k to £192 k with a total wage bill of £347 k up from £264 k. Lots of complicated talk about options and there seem to be shed loads ready for the usual suspects in due course.

Any income from China seems a long way off with submissions not going to happen this year let alone any products but at least something seems to be happening.

Usual cut & paste about globals which we've had for years with nothing actually happening.

There are now going to be 1.98 bn shares in issue and 2 bn on the cards as they will still need to pass the begging bowl around when there's no money left to pay the colossal and totally unwarranted wage bill.

Who are these people who keep coughing up? I find it difficult to understand why a sophisticated investor would put a single penny into this crock.

If anybody is bothering to go to the AGM,perhaps someone could ask Ian Ford what his residential status is as he hasn't been able to tell me?

It might be easier if I ask Companies House to check.

Is that another way of saying "don't you dare say anything which me and my fellow delusionists might construe as a reasonable comment ? "