Member Info for DrPatience

Thanks Noel, that's a great ethos!

Having facts on the table and debate can only be a good thing for serious investors.

How we then judge or evaluate future outcomes will of course often be very subjective and that's OK!

Worth a listen from 21:35:

https://www.linkedin.com/posts/paul-hill-a5994116_hot-stocks-on-vox-markets-activity-7070345511718805504-Px-j?utm_source=share&utm_medium=member_ios

For me - someone who believes in this business - the biggest risk of all is someone putting in a takeover bid, even at 100-200% of current share price, which will not be satisfactory for most holders, hopefully including large holders and the management team!!!

Tax treatment: does anybody have a definitive answer on this for UK residents?

Under Swiss law the capital return is in fact a capital return/gain (well documented). I understand each tax authority will take a view and I have seen several pieces of evidence that HMRC considers this as a dividend for tax purposes. I guess many of us have been putting the money under capital gains in our tax returns - rightly or wrongly - as HMRC rarely digs in and asks for specific details.

View's appreciated!

Thanks Noel, very much appreciate your input on this.

In terms of Labour, it currently comes down to the interpretation of this statement: "We are against the granting of NEW LICENCES for oil and gas in the North Sea." I took this as no more licencing rounds. Anything else will be breach of contract and followed by legal claims for compensation in my view. I also appreciate politicians can get away with a lot, so who knows. Also, energy security is still high on the agenda; even Labour will have difficulty ignoring that.

I also appreciate they can relax or firm up their views any time. The article in the Times suggests an energy policy view be announced next month, so let's see.

If we follow your more negative view on the whole thing, I am doubtful more licences will do anything for Delt.

Apologies C_Schmitt, I inferred that from the ramper claims against Rooster and the bitterness shining through. Give it time then; this what to be expected from small companies: some make it, some don't - it's a journey. Good luck.

And a view from Tom Baxter (serious independent energy commentator) on the Labour position:

https://www.linkedin.com/posts/tom-baxter-a141a1b_starmer-plans-to-block-all-new-north-sea-activity-7069612838436098048-JZ_q?utm_source=share&utm_medium=member_ios

In summary he concludes:

"So Labour, how are you going to decarbonise transport, heat and power generation and provide for renewable intermittency together with energy security without new oil and gas developments?

Without a plan I can't buy in."

Noel, thanks for you honesty! Hopefully, whatever you decide, it will work out. I am personally holding on to everything I have and adding when I can.

Am I nervous about what politicians might do? Yes, we should always be, as they can rarely be trusted.

On the Labour front, I came across an article in the Times, which ought to calm some nerves re what Labour is up to:

"A Labour source said: “We are against the granting of new licences for oil and gas in the North Sea. They will do nothing to cut bills as the Tories have acknowledged. They undermine our energy security, and would drive a coach and horse through our climate targets. But Labour would continue to use existing oil and gas wells over the coming decades and manage them sustainably as we transform the UK into a clean energy superpower.”

For me this is clear: even if Labour comes to power, I feel Delt's current assets are safe. And in a nutshell, even if only Selene and Pensacola are successful, the share is hugely undervalued from a risk/reward perspective.

ALl: this is my subjective view; for clarity I am not trying to ramp on empty data. Only real news from Delt will move the share price on genuine fundamentals.

The link:

https://www.thetimes.co.uk/article/97240c64-fca1-11ed-aa31-73394e195d29?shareToken=a39125b4c1d8e2520c3f15f27b5856c8

C_schmitt; if you sold in panic, too bad. It's only a gain/loss when you sell.

In general don't trade in AIM or early stage companies unless you can afford lose everything! Simple.

I am also holding despite sitting on big paper losses. Why? Because I still have faith in the IP and its exploitation.

Rooster is not ramping. He is just hopeful we will see real positive resultsin the future. In any case, those who fall for empty ramping should not trade here or anywhere else.

Interesting how there is hardly any trade volume today. Maybe the big rotation of panickers and those who wanted out for whatever reasons (including a big seller) with those who seek trading opportunity or just believe in the business.

Done a small top-up myself yesterday. Right or wrong? Time will tell!

Rooster, I am on the same page as you overall - worth hanging in here!

I don't have enough info to assess if they should have sold ImmunoInsights instead, but the CEO is no fool, neither is the broader board or the big investors. Just check out who they are and their track record.

There is a problem with comms of numbers in particular + now I feel we need clear info on the forward strategy. Is there a CFO problem? Has the new chair not brought anything to the table? Lots of questions and I am sure we will get clarity going forward. All investors - small or large - should starting pushing for this. If some management changes are needed, so be it, but it's incredibly difficult for outsiders/small shareholders to really understand who the weakest links are, if any.

The reality is that most people can relate to a test business, whereas very few will understand what an IP / service business can do.

Noel: Out of interest, are you still holding shares?

I suspect there is a fairly large silent majority; I'm interested also!

We desperately need tangible news for this share to get some sort of direction. I presume current share price is driven by the political fears in small holders minds, be it under Tories or Labour?!

In reality nothing has changed since the Pensacola announcements; yet trading at around 1/3.

WB, good luck with the other opportunities then!

The management needs to improve comms and clarify the strategy no doubt.

It may be as simple as "volume=vanity, profit=sanity".

ImmunoInsights clearly has high margin and with many opps for IP generation, licence deals etc. Most testing businesses end up having wafer thin margins over time. Becomes volume businesses.

The management team could probably have sold either of the two, so need to explain better.

Thanks Stargate,

I personally don't put much emphasis on chart reading for this type of company. It's early stage, IP driven, working towards profitability and market development. Fundamentals - successful growth or not - will drive this => RNS/news. Right now it could go up or down, semi randomly.

Either you believe they can make it or you don't.

Rooster, clearly some serious panic selling and investors taking losses!!

In really, lots of smaller transactions adding up to around 1.45 million shares if this site has accurate data. It's only around 2% of all shares as far as I can work out, but let's see today if this continues. I feel the big holders, indeed will hold, as the company moves forward with hope (but no guarantees obviously)

Grumpyfarmer, good post!

Wrt "why didn’t Freenome buy the whole business?".

In my view because it was not for sale and Freenome would not have offered what it would take (big gap). Why? The big holders have paid a lot more in than the recent share price, and will surely - assuming they are still confident about the future direction - be looking for a multiple, so I can assume it would only be for sale at very minimum 200 p. Even that would not impress the big holders. Most likely buyer going forward will be one of the top 10 pharma outfits. If the big holders lost faith, that's a very different situation.

Lampedusa, I do get your point but depends on how you read it. Can be read (inferred) as comparing H1 with previous H1 of the 15 months year ending Aug 2022 or as - which I think is your interpretation - the full 15 months year. The latter is clearly not the case, the gap is huge then. If they meant that, then it is a big issue, I agree. If the former, it can be explained by delayed invoicing (only just).

In any case, it's either sloppy comms or a straight lie. If a lie, it must surely have consequences ie removal of CEO and/or CFO. To be continued!!

I may actually write to the company, as I am not selling.

If you are selling tomorrow: good luck, I do understand your frustration.

Ps, Flova:

In fairness, the £13 million figure was a forward pipeline figure (expected), whereas the €3.5 million is actually contracted (firm). If you were confused, I am sure many others were and may well in part explain the massive panic sell off today.

From Feb update: "the pipeline for the ImmunoINSIGHTS service business stood at approximately £13M and was growing steadily at approximately £0.75M a month"

They could do with being a bit more crisp wrt how they talk numbers, the use of currency etc. Sloppy CFO? You may have a point, but for the board to consider. Also, don't forget the company has some serious anchor investors all hanging in there, presumably waiting for a trade/corporate sale, as there is no way they can sell on the normal open market.

I also agree wrt chairman, as hopes/expectations had been raised, so...would be good to see some tangible benefits and broad director buys; should by now be a no-brainer if they believe in the business!

Flova, I think you have some genuine and reasonable questions. Should probably be addressed to the company/board, as I doubt they are following these discussions on lse.

I can only assume any revenue from the sold business has been stripped out.

Lampedusa,

General slowdown/delays in the wider bioscience sector meaning contracted revenues are slipping into next 6 month period.

Costs will come out also, so hopefully it will comfortably be making a profit later this year or early 2024.

I feel they have a solid platform for growth now with the house in order, so I prefer to hang on to what I have and see how they get on. Once you sell, the upside will be gone unless one feels the company will crash and burn. Never say never, but I would be very surprised.

Cookoo, I am not saying anything until we have real news. With panic it may go lower, but that's a personal choice. Remember, for every seller there is a buyer.! It can go up or down randomly until we have real news; it doesn't really mean a lot apart from some people may make a good deal.. or not as it may be! I believe in this based on what I have seen so far. Could it fail: yes! Worth the potential upside for me.