Member Info for ConorM

LOTM13 - Thank you so much for sharing the document. It has taken a while to go through, but the quantity and more importantly the quality of the research is genuinely extraordinary. I originally bought MIRI a couple of years ago as what seemed like a decent bet, but you've completely convinced me of the long-term prospects. Once it starts making proper money and making inroads into a potentially huge market, this stock could absolutely be explosive. 18 months ago, it was 44p - if it got to 28p from where it is now, that's a 100 bagger! How often do those chances come around? I suppose my only hesitation is that the firm's prospects look pretty good through the research and and others have done, but the company itself tells us virtually nothing. It has no doubt suffered from poor management, and now things seem to be looking up, we might say the same management is finally turning things round or we might say the same management is finally turning things around but communicating so dreadfully that shareholders aren't benefiting from that. But overall, the depth of the research presented here is really compelling.

I do appreciate the research being undertaken by 2-3 people. And I especially value the fact that a dozen long-term investors with over 10% of the company are interested in life-changing amounts of money rather than quick profits. To me, that makes MIRI stand out from many other AIM firms which also have world-leading products. I first invested 2 years ago and have averaged down a couple of times since then. But the case in favour of buying is now quite different than it was then. Can we all please see LOTM-13's investment case document?

I do fear a very low-ball takeover offer in the short-term, but if that could be resisted and MIRI got back to 40p in the next couple of years (which isn't inconceivable with a flow of good news and income generation), this could be a 100-bagger for many of us!

In today's Trade Cafe, Zak Mir predicts 80p by the end of this month (watch from 10:40):

https://www.share-talk.com/traders-cafe-with-zak-mir-bulletin-board-heroes-friday-7th-march-2025/

President Trump yesterday launched a $500 billion artificial intelligence infrastructure project called Stargate, which will build AI data centres in Texas. The project is backed by the CEOs of OpenAI and Oracle.

Oracle CEO Larry Ellison spoke about how AI could be used in medicine: “Little fragments of those [cancer] tumors float around in your blood. So you can do early cancer detection. If you can do it using AI, you can do early cancer detection with a blood test and using AI to look at the blood test. Once we gene sequence that cancer tumor, you can then vaccinate the person —design a vaccine for every individual person that vaccinates them against that cancer. That mRNA vaccine, you can make that robotically, again using AI, in about 48 hours.”

Certainly sounds as though LLAI could be useful in the detection phase.

Seems that R8 has handed back to FCA to EMI license (electronic money institution).

From the 2023 annual report posted on R8's website, with AGM to be held on 2 December:

"On 26th January 2023, the board of the Company decided to cease its customer operations for Fibermode Ltd, JGOO Ltd and Greyfoxx Ltd, in light of adverse market sentiment resulting from the collapse of FTX and the consequential lack of investor appetite for crypto-related businesses.

On February 2023, the Company notified the Financial Conduct Authority (“FCA”) of its decision and the fact it would no longer be using its EMI licence.

As explained in the Strategic Report, Mode Global Limited which operated cryptocurrency treasury function and digital wallet product (Trading name: Mode), Greyfoxx Limited was electronic payment administrator, JGOO Limited operated the trading platform (Mode Global services), Fibermode Limited facilitates Crypto trading, rewards and cashback for Mode customers and Fibere Limited was set to manage the Mode Store selling retail items. These have ceased trading operations and are in the process of winding down and returning customer funds and settling liabilities. "

This morning, I noticed that all the content has been removed from Destiny's website. Turns out that last Friday, the Administrator published a Proposal, which can be found on the Companies House website. It says that company cannot be rescued as a going concern; that no offers have been received to buy any of the company's assets; and that all employees have now been sacked. It sets out a process to repay creditors, but has nothing useful for ordinary shareholders.

When I go to R8's website, clicking on 'Investors' in the top left of the homepage generally brings up a new page which lists recent regulatory news. This morning, clicking Investors just keeps you on the homepage. Manually going to r8plc.com/investors brings up a 'Page Not Found' message. Perhaps the site is about to be updated?

Why did this morning's RNS not appear on this board all day today?:

https://www.londonstockexchange.com/news-article/DEST/treatment-of-xf-73-nasal-reduces-antibiotic-use/16578281

In the last 6 days trading, the total volume of shares bought and sold has been about 16.5 million. While that is much higher than the daily average over the last few months, it still doesn't seem nearly enough to help the BOD/larger holders get from the 26% of shares they held last Monday to the 75% of shares needed to approve delisting next Wednesday.

The full text of last week's Circular seems to have been removed from the company's website.

But they have posted another document there 'Proposed AIM Delisting - FAQs':

https://eadn-wc05-11371519.nxedge.io/wp-content/uploads/2024/07/Desting-Pharma-plc-AIM-Delisting-FAQs-16-July-2024.pdf

Solid financial results for Redwood Bank in 2023:

https://www.mortgagesolutions.co.uk/news/2024/05/13/redwood-bank-doubles-profit-before-tax-to-5-5m/

CIPFA recommends independent panel to review Warrington Council's investments, specifically noting the shares held in Redwood Bank:

https://www.bbc.co.uk/news/articles/c103ymjr69po

Government orders a report (due by 30 August) into Warrington Council's debts:

https://www.room151.co.uk/treasury/dluhc-and-cipfa-criticise-warrington-over-1-8bn-debt-with-inspection-launched/

Warrington Council refused to give its auditors information about the value of its investments:

https://www.ft.com/content/880099cd-60e8-47a8-a9d2-7b411674ea7d

Extract from an article in today's Shares magazine by AJ Bell on the role of AI in medicine:

Cardiovascular disease causes over 18 million deaths a year across the globe. Discovering ahead of time who is more susceptible to developing the disease could save millions of lives.

Genincode’s (GENI:AIM) lead product CARDIO InCode is a genetic risk assessment cardiovascular test with US FDA (Food and drug administration) approval on the horizon.

The company’s LIPIDW InCode test measures susceptibility to high cholesterol. Both tests combine clinical algorithms and AI to provide advanced patient risk assessment to predict cardiovascular disease.

Analyst Emma Ulker at WH Ireland estimates the two tests have a total addressable market opportunity in the US of around $6.3 billion if approved.

Extract from an article in today's Shares magazine by AJ Bell, on the role of AI in medicine:

AIM-quoted LungLife AI (LLAI:AIM) is a diagnostic company focused on the early detection of lung cancer.

The company is developing a test that pairs a simple blood draw with artificial intelligence to provide clinicians and patients the information they need to make informed decisions about the management of lung nodules and lung cancer.

In January 2024 the results of a clinical study demonstrated a strong PPV (positive predictive value) of 81% in discriminating cancerous lung nodules in patients with smaller nodules less than 15 millimetres.

These types of nodules present the greatest challenge for physicians in detecting cancers. Current standard of care generates a PPV of 60% which leads to material delays in diagnosis of deadly cancers.

JR has set up another company, R3 Sport, to promote padel and set up a Super League for franchise teams:

https://www.cityam.com/redwood-bank-founder-jonathan-rowland-aiming-to-corner-padel-market-with-r3-sport/

Sounds great, but I'd prefer him to be completely focused on getting a great deal for MODE shareholders as the takeover of Redwood Bank progresses.

In yesterday's episode of his Sharepickers Investment Club podcast, Justin Waite talks about why he's stopped doing Vox Market videos. Said that he had to talk to 'a lot of rubbish, resource companies digging dirt in Africa for years on end, issuing shares, and that's all they exist to do'. My guess is that he had this interview in mind: https://www.voxmarkets.co.uk/articles/andrew-bell-of-red-rock-resources-we-now-have-critical-mass-in-the-gold-province-centred-around-yamoussoukro-7b855ea/

A BBC report today on the current debt crisis faced by many local councils mentions Warrington and its investment in Redwood Bank:

https://www.bbc.co.uk/news/uk-67707156

The 2022 annual reports and accounts have now been published in the 'Filing History' tab in the company's page on Companies House website.

MODE/R8 accounts had been overdue for a couple of months, but have now been produced.

From the Companies House website:

09 Jan 2024 Group of companies' accounts made up to 31 December 2022

This document is being processed and will be available in 10 days.

Https://www.voxmarkets.co.uk/articles/andrew-bell-of-red-rock-resources-in-a-couple-of-months-time-we-will-be-a-transformed-company-81bffc3/

From Interactive Investor:

"News that an AIM company is gaining a Nasdaq listing is no reason to rush to buy the shares ahead of any move. It is not a magical booster."

https://www.ii.co.uk/analysis-commentary/when-companies-leave-aim-nasdaq-grass-greener-ii528399

The Conservative group on Warrington Council has called on its Labour leaders to resign, citing the investment in Redwood Bank as one of the reasons:

https://www.warringtonguardian.co.uk/news/23881651.warrington-council-finance-row-sees-resignation-calls/