Member Info for elrico

I have updated the INSIG article with a detailed overview of policing greenwashing and how INSIG AI sits inside the increasing regulatory burden. Big thanks to the head of research, Diana Ross, for her time and very detailed response.

It is under the heading *Greenwashing is a crime

https://lemminginvestor.substack.com/p/insig-ai-plc-c2c

So Mr Sheedy now identifies as a woman. He tries to be relevant; I'll credit him for that. As well as persistence. :)

This is what I feel makes HVO an attractive acquisition and possibly why a NASDAQ listing may be attractive.

https://smallcompanychampion.substack.com/p/hvivo-plc-3b3

So, the Company has raised £900,000 gross via a subscription of 5,294,118 ordinary shares at 17p. The fact it was not at a steep discount but market prices is pleasing, even though it is chump change in the grand scheme of things. Nevertheless, it signifies that Executive Chairman Richard Bernstein has confidence in the Company because he took part. Some of you may argue he had to, given he is partly funding the Company through to profitability. However, let us not forget that his reputation is also on the line, not just his wealth. So, it is argued Insig is now fully funded to see itself through to profitability, with FY 2023 predictions for revenues of no less than £1.4 million from its legacy business and a further £600,000 from its core AI business, where exponential growth is anticipated in subsequent years. I hark back to previous comments from Richard Bernstein back in March 2022; “the Company targeting £4 million recurring per annum run by the end of the next financial year (2024), in addition, the Company were anticipating c£4 million from new fund launches but will also include revenue from CarVals on its high yield and investment grade fund that we have announced. The £4m is solely from this division.” To be clear, these figures do not form part of the Company’s official targets.

https://lemminginvestor.substack.com/p/insig-ai-plc-c2c

Al,

Whoever thought it was "in the bag in November" when nobody knew of its potential until December has a time machine. The para before makes perfect sense. You never know what the engine is like until you drive the car.

I know SBTX did not start DD until November. Odd.

"A SEPARATE FUND RAISE VIA DEBT OR EQUITY WILL BE NEEDED FOR ANY ACQUISITION SHOULD THAT PROCEED it could not be clearer." Taken literally, then yes.

The language in the RNS is legal text covering the backsides. I asked Stuart about funding the acquisition because I thought it would be a bad form to approach the market a second time when there was no need to rush a placing through when he did. It would look dam silly. For this reason, my logic (flawed as it may be) suggested a price had been agreed upon; otherwise, why do fundraise in December? The SBTX wasn't running on vapours.

Stuart ventured there are many options open to them, including debt and or warrants, etc., as a possibility should they need them. This suggested to me there was an expectation of an eleventh-hour cheeky request for a sweetener to test SBTX resolve, but suggested to me they had completed the funding they required, which was supported by comments such as we do not need to go ahead with the open offer for retail because we do not need it. This was a courtesy because Stuart is aware of prior criticisms of other corps that have raised funds, and PI has not had an opportunity.

Who knows? It is all guesswork at this stage. Applying simple logic does not always work.

For us old duffers, no less.
Ageing is a fact of life, but feeling your age is not.

WellBiome contains scientifically proven ingredients to support heart, cognitive, and bone health.

With respect, bigpunt, your theorising is profoundly flawed but plausible to naive investors.

Clio makes the first glaringly obvious observation you seem to have missed or lack the knowledge Clio has. NOMAD!
Moreover, IMHO, a price had likely been agreed upon, hence the placing, which blows a hole in points 1, 2 & 3. There was an AGM and a funding prospectus; thus, stakeholders, shareholders, and whatever you wish to call us were well aware of the reasons for the fundraising.

You are right, of course, regarding a need for SBTX to demonstrate it had the required funds for a purchase, so you answered the most critical part of your theorising. Everything fell into place after that. Somehow, you missed it. Blinded by your own light! :)

We need SBTX to get the deal over the line or walk if the terms are not ideal for an accretive deal. The last thing I want is for SBTX to pass the hat around again and overpay. There is a surprising wealth of small Companies around which I think Cath and her team could be purchasing products and backing their IP into as test kits ahead of approaching a target. Stuart and Manprit know what they are doing. Remember Stuart's role with Smith & Nephew? He won't overpay!

Clio,

IMHO it would be of critical importance to ensure SBTX IP could be backed into an existing product portfolio. If not, it defeats a critical commercially strategic importance. I’d wager Cath and her team would play a major role in any M&A activity.

Clio,

This depends on when you think discussions commenced.
- Financial DD
- Product DD
- IP DD
- Valuation
- Existing product contracts
- Employee contracts
- Etc, etc, etc.

From memory, I think the contact was made in November. That's not enough time for either party, even if a price has been agreed upon, which the placing timing suggests it had. Put lawyers into the mix and their thirst for billable hours!

IMHO, one of the most time-consuming aspects would have been backing SBTX IP into third-party products. Again, the placing suggests this has been done successfully because Cath would have needed to give her blessing.

Anything can hold a deal up, such as assurance for existing employee contracts, etc.

If I were the seller, I would hang on to see if Newcastle qualified for CL football and if Stuart maybe feeling more generous for another £500k. lol

Al et al. l,

I am unsure what value investors in SBTX will gain from comparing the two companies' products and commercial strategies. Optibac appears on the face of it (without me spending time to research it) to have invested in a sales campaign which has eroded margins quite significantly but could be rewarded if the product generates a loyal consumer base. If it doesn't, then it appears to have been costly and may need a repeat campaign.

SBTX has a long-game strategy looking multiple years down the road. Therefore, as investors, we must accept the risks associated with a fledgling Company. In addition, take the risks new science adds to the fledgling status.

SBTX is essentially a B2B Company, but the management has also demonstrated their ability to adapt to a changing environment (COVID), which forced them to develop Axis Ps D2c through a consumer model rather than a more scientific one. Even so, it appears the board has strong views on margin surrender and is prepared to walk away if the terms are unsatisfactory.

It is my view, but I think the board has been looking at several M&A options, not just one. This is a natural strategy if you have decided to buy and build, as is the "preferred strategy" of Manprit and Stuart. The trick here is not to get sucked into overpaying and to be prepared to walk away.

If I look back in time at the "sign-off" on the £1.2m (not a porky as you argue - it was an official forecast) based on evidential paperwork, then removed, it suggests the board were confident in a better agreement. Why would this be? Perhaps something dropped into their laps in a narrow window, like an acquisition and a multinational wanting multiple product treatments inside out.

That said, no development news on the above and lack of communication from Croda leaves traders (not investors) nervous and put their hard-earned to work elsewhere - hence the drift down. Furthermore, without regular News, it is tough for any fledgling Company to develop an enlarged shareholder base. Regular RNSs help in this regard. No news or periodic updates means no new investors, which means we have the same old material being regurgitated. This angers some investors because it appears an agenda is being acted out. We have discussed this before.

Potential News (I'm begging :)
- We need News from Croda, SBTX's most significant commercial partner, but for a good reason, they are locked down higher than Nat's chuff.
- Oral care
- Acne probiotic
- Distribution deal
- Additional Pillar partnership(s)
- Axis Ps distribution in multiple territories
- Acquisition
On this, it must be accretive and allow existing IP to blend inside a reasonably sized portfolio, but it must be at the right price, and not one that sees SBTX return to the market for operational funding. The board will walk away if their basic terms are unmet. Likewise, they must be prepared to walk away from any potential acquisition they have in their sights.

2 hours prior to the corrective RNS. Sells, the buys came in AFTER.

Please, keep to the facts.

81 12.62 1109 O


12.5
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734,343 777,337 60,000
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734,343 776,228 60,000
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734,343 770,361 60,000
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734,343 767,287 60,000
77 12.64 8813 O


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734,343 668,462 60,000
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734,343 659,649 60,000
75 12.52 30000 O


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734,343 629,649 60,000
74 12.52 14907 O


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734,343 599,649 60,000
73 12.55 14000 O


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734,343 584,742 60,000
72 12.5 800 O


12.5
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11:27:57 800

Bubsy,

For the record, Mike was the chairman of Pierce Asia, which has David Batiston and David Cronin on the board. I suggest you look them up. These are high calibre businessmen.

PA had two big deals covering the original SEA region, and had it expanded to cover the Middle East. I believe these distributions deals would have been larger than anything OPTI has currently. PA delivered. I cannot expand further.

I fully appreciate your sentiment because you’re in the dark. But like so many agreements, investors have not been kept informed of progress.

Farris,

Mike McGeever is a good friend of mine and sponsors some of our work. How’s that faith holding up now? :)

Skid,

Serious question. Can you provide a source for my declaration the climate doesn’t change? No! Thought so.

For the record, I accept the climate changes. Unlike you, I don’t argue last summers heatwave is evidence of our pending doom, for the 15th time. I’m intelligent enough to know the heatwave was due to the sub Sahara weather directional change and the channel being to narrow to cool the hot air. But, if you get your news and weather from the BBC, ITV or Sky, it explains your ignorance. That’s not a conspiracy, it’s awkward facts. Quite what all this has to do with SBTX, I don’t know. Do you care to explain this, or leave to the conspiracy nutters voting for your own conspiracy. Irony! :)

Just for you. An example how your brain works.

https://twitter.com/rossmac212/status/1640823216070377473?s=46&t=zr6wtLQpILSjVlEldnt9Ug

Bel,

I have no wish to be rude to you, my friend. However, you seem perfectly fine with oleric constant petty gibs at me but remonstrate Tradebuckie smackdown of one of my trolls. I do not recall you protesting in my defence. How do you square this circle?

Tradebuckie is one of several investors tired of the petty nature of some people.

I always try to be respectful, even to the trolls, when I do engage. Still, three of them think it is perfectly acceptable to insult me on an open forum and, in some instances, email me with a few choice words; I dare say they would not have the course to say to me in person. But I am used to the teen tantrums; I have endured them since October 1999; they do not impact me; I just switch them off.

The adults in the room want to discuss the Company, of which the majority appear perfectly content with discussing the negative in a historical context.

Reading between posts, I can see Oleric seems content with his own brand of cheap shots at me and even questioning my research. At least I am prepared to engage and accept the risk of being wrong. I can at least understand the contracts SBTX has with Croda's lysate, the technology platform, and the latter's potential. Unfortunately, Oleric does not know what he speaks in this regard.

Also, I have already forwarded a perfectly logical reason why RNS would not be required if SkinBiotix was involved; you correctly eluded to another. It is not a matter of forwarding bull comments and not accepting SWOT analysis comments. Suggesting we should all listen to both bull v bear comments while ignoring the evidence several contributors have swapped alternative views, but you seem to have missed them.

Perhaps the resident trolls would like to adopt a more mature civil discourse to encourage a more friendly forum. Alas, this seems the need hostile to me, mainly, is more important to them. I put all three in the filter bin to avoid the badger baiting, hoping sanity prevailed.

I am 100% confident I will laugh louder and longer if Stuart and Manprit get the acquisition over the line. But, then, perhaps the trolls will be brave enough to apologise to Stuart and me.

Until such time, I am signing off until the acquisition is completed...assuming it is.

I will respond to emails until then.

Good luck, all.

I'm not sure where that bus came from, but I'm pleased I stepped out of it's path. :)

Faris,

For the sake of discussion let us assume BBB's inception was via the SkinBiotix platform. It currently appears Croda is promoting it to Sederma clients, and it is not on retail shelves yet. I could be wrong. IMHO BBB will need to undergo stability and QA tests, etc. My view is this is not worthy of an RNS, reach, possibly but would still require approval from Croda.

I look forward to the day when SA has bus gag order removed by Croda.

"Elrico, surely if skinbiotherapeutics was anything to do with BB-Biont, it would have, and should have been RNS ."

Why?

Why?