Member Info for dougerboy

AJP, Merry Christmas that is an excellent piece of detective work. We may all be firing in the dark on this angle but it is clear that Itaconix and Lubrizol and their respective businesses intersect on a number of fronts in the marketplace. Given the massive difference in respective business sizes I would venture - if there is indeed a relationship - that Itaconix with its bag of Itaconic Acid based IP protected patents could be a useful partner for Lubrizol as that company endeavours to transition from fossil fuel derived products to the new era. As previously mentioned, John said they were approached by a significant (new?) investor on the last round - and if they were happy to stump up, that might explain why IP Group put their hand in their pocket again also - just as we have done lol. This may be all false conjecture - but it is fun trying to figure it out!

K797 Acrylate Terpolymer also comes in powder form: https://www.lubrizol.com/-/media/Lubrizol/Water-Treatment/Documents/TDS/Carbosperse-K-797D.pdf

Yes Smart, the trading update for full year to 31.12.2020 came out on 26th Jan. So I suppose we can expect something similar. I’m taking a guess at $4M for the year, with things really beginning to motor in 2022/23. I’d really love to know what they are doing with the Lubrizol Carbosperse K-797 though!

Interesting post lgl. Lubrizol are also importers/users of Itaconic Acid. Also, not without interest is this:
https://www.shrieve.com/products-applications/chemicals/applications/paints-coatings/

To all LTH’s on here I’d just like to say thank you for your contributions over this past year. It is a great board, played, for the most part, with straight bats - unlike elsewhere lol. The research has been top notch and very insightful - you know who you are - so please keep it coming. Here a Christmas snippet, the significance of which, I have no idea!

https://panjiva.com/Kregspedi-For-Itaconix/91872057

Merry Christmas and may 2022 and 2023 bring us great things such as 20p by ‘23! But health and happiness first & foremost.

FG2 I concur and the pipeline of opportunities coming from Itaconix target customers & markets bodes well. We are still an acorn, on the shy side of breakeven, which is why my eyes are on 2023.

Thanks so much Luthrin, I appreciate it. It’s going to be interesting to see what the remaining contingent consideration liability will be once 2021 numbers are out.

So much for my expectation of no more RNS’s till after Christmas. Glad I was wrong. John Shaw on the other thread has been taking some heavy (for me unjustified) flak and as many LTH’s know, with JS, less means more - as exemplified by this RNS. Concise, a new business opportunity from the pipeline he has often spoken about, and an ORDER = sales. All said in just a few sentences. That’ll do.

Thanks Luthrin. Can I ask from where did you you get the detail:

“ based on the volume-weighted average closing mid-market share price over the 30 trading days immediately preceding the first day on which the financial results are publicly released”

Ah thanks for that, then extrapolating across the entire USA population of 330M that gives a TAM of 9.9 Million Iron Deficiency Sufferers.

EoB we’ve known - based on what we know - for a while they are way below factory capacity. The production setup/lines we know about can support annual Sales up to $15M, when running at full tilt, though not sure if that is on a 1, 2, or 3-shift setup. My next question for John Shaw!

A last word on the bonus scheme: “ Such deferred performance consideration, if any, would be satisfied annually entirely in new ordinary shares of Itaconix plc at the then prevailing price.”

To me that means the SP when the books close at year end on 31st December. So let’s not expect anything else before the year is up lol.

Here is the detail of the bonus scheme. Note it is 50% in of incremental revenue:

Note 17 in the Annual Report (page 62) explains how the scheme works. In 2020, scheme members were entitled to a bonus of 50% of incremental sales above $3m. Sales for the year were $3.292m, so the bonus was (3,292m – 3m) * 0.5 = $146,000. The bonus was paid through the issuance of 1,923,389 new shares in the company as per the RNS of 9 April. John Shaw received 884,953 of the shares (46.0%) and Dr Yvon Durant received 205,802 (10.7%).

Another canny RNS from JS. No extra fluff beyond what is needed and there will come a point when the company really can let the numbers do all the talking, with JS hopefully then adding a bit of well deserved justified narrative.

Not sure where you get 40 million from Starman?

Great info UKS. Compelling.

I agree AJP.

Perfect, thanks. 2023/24 I look forward to.

Do you have any company financials predictions for 2022 Baz?

They’ll get potentially 2 further bites at the contingent consideration bonus Thordon. Provided 2021 revenues exceed 2020 and similarly 2022 those of 2021 , we’ll see RNS’s in April 2022 and April 2023 detailing the amount of bonus award, payable in shares, as we saw last year.