Member Info for Elsol

I think Trump's MAGA delusion is a bit like Boris' BREXIT MUKGA policy - both completely fabricated lies and self-serving, mis-sold to voting masses but will all come crashing down at some point with public opinion backlash and demonstrations - nonsense impacting so many billions of people around the world and stirring up bad feeling between countries. There could be another sniper bullet for poor Mr Orange soon unless he takes a more respectful approach to RoW and the impacted masses....terrible to say, but he has gone to far this time for sure. Its like giving him full control over a 747 with no flight training other than video games.

Indeed! Trump frustration I'm guessing... esp. given timing of ITX news less than a month away. Investor may regret sale at a bargain basement price. Was that you Wacca? If so sorry to see you go!

3 weeks and counting down...they are planning their investor presentation now and liaising with broker no doubt!

Some stocks give speeding ticket RNSs when their stock is unreasonably being over-priced and excessively bought or opitimistically ramped v's intrinsic value/performance, so not sure why ITX mgt don't issue a RNS with a warning of unreasonable overselling (at 5mph go slow ticket in a 40 mph zone) - e.g. mgt have no reason to believe SP should be so unreasonably low given current known performance!

Looking forward to possibly a very positive 24/25F trading update and forthcoming investor call --> SO HENCE THIS IS YOUR REQUEST for everyone to send any further burning questions not already on the list - pls send across well in advance of month-end and I will endeavor to send a direct email to the CFO about 1 week before the investor call for Mgt heads-up on main shareholder queries/questions. Whilst I will mention RNS news cadence, there has to be some NEWS to report of course and maybe some of the possible news is withheld for competitive or customer confidentiality reasons (e.g. SAP collaboration progress). Keep them genuine and balanced and we should get a positive response is my advice!

Totally agree AJP, the "POTUS" is a train crash, off the rails and a complete buffoon - his single brain cell is one-track, hard wired as some sort of control freaking business negotiator (real estate), with a schizoid 'bullying' personality disorder. He is ineptly scatter gunning the whole world with economic and faschist chaos - just makes a complete fool of the USA to have such a demented crack-pot in power with his "bully friends" like JDV and Musk etc

Hi Wacca, I think we will have much more clarity and investor consensus in about 1 month based on ITX mgt and broker updates, especially in respect to rev. 25F/26F expectations, breakeven, business + op. supply chain strategy. For now it's a strong hold for me since client portfolio + global revenue growth opportunity + IP fortress are well undervalued at this SP. If you have free cash it's a strong buying opportunity given temporary market environment (Trump effects via China) - Remember buy on bad news and sell on the good. Note if all Chinese imported goods remain in USA at 20%+ tariff , Trump will feel a massive public backlash soonish and economic / NYSE/ DOW instability that certainly won't deliver MAGA as he promised so has to renegotiate a compromise.

I noticed a Russian wood varnish cleaner, but maybe another one for paint??

Hi Dougerboy, There looks to have been a sequence of c.£5 to 10k purchases on Lse and Aquis over last few weeks which mop up smaller sells. This seems a different trading pattern of late but have a look yourself to confirm. Its not a massively significant buying pattern obv. but given typical low volume buying and selling bundles in last 2-3 months it looks different so just flagging.

Think those were a few big chunky buys today, so obviously someone is v. keen to accumulate a war chest when ITX stock is going on the cheap. Only about 25 work days for 2025F $10m revenue and 2026F trajectory update plus very interesting broker revision given growth delivery.

Re: Biobased Paints and Coatings Market Report...

Great ITX are called out explicity on the radar given no product launches as yet. But just mentioning there are about 20 players here, some small, some mid cap other large multinationals. My view is that with each new ITX application channel opportunity we are compounding the possibility of medium term M&A at a high exit premium min. 350p++ today and growing . My take is about 10 certainly not, but perhaps up to 10 could be future suitors, definitely 15%, of cohort. If we times that by other ITX supply channels, during 2025/6 there is a reasonable chance of very interesting upside beyond organic SP growth. DYOR

Couldn't agree more.. not this time!

Hi AJP - Yes I will collate all the content and recirculate, and remove my predictive typos like "teat" in my points, however very apt in its current place 😃. Since last investor roadshow mgt. seemed to have no prior visibility of our questions, I will email a week before direct to CEO and CFO to ensure they ate prepped and completely aligned with shareholder questions.

Shall we start to compile/agree the most beneficial Qs for ITX management so we can cover off key areas - please all contribute thoughts / changes / additions so we can prioritise and decide who sends which modified questions to ensure everything is caputured efficiently and to extract the best shareholder insights from the investor call;

1. Following prior company commentary and notifications re: SAP market applications for Itaconix polymers, please provide updated guidance and perspectives on the progress of possible SAP ITX ingredient market access and launch, the current comparable performance level being attained and the direction of key collaborations and validation teating with product suppliers or manufacturers. Furthermore does the company have any key IP or in process IP that it deems critical for commercial success and is it aware of any major market access obstacles?

2. Please provide additional clarity on the likely impact of current China tariffs on the company related to; (a) significance to medium term trading performance and 2025/26F expectations - revenue growth and profit breakeven ; (b) mitigation of said tariffs via supply chain sourcing elsewhere, and; (c) exemption for US Manufacturers or alternative balancing tax advantages

3.

4.

5.

So they look like sequential medium sized buys over on Aquis right (soneone loading up?). Are there any sells to match vols? Confused where extra matching stock is being supplied from and how all exchanges marry up demand vs supply on S/T basis?

I agree, lots of potential market channels to explore for ITX ingredients and there will be some companies and senior brand managers that are keen to engage to stay ahead of the curve of competitor offers or add product differentiation. Significant push and pull going on at the same time - that can be v. Interesting for investors given ITX's rev. growth bandwidth can change quite rapidly with client application advancement news / random out of blue RNSs and unexpected SP jumps.

Just been looking at the characteristics of the AQSE given AJPs recent reference to some chunky buys on that platform. A buyer over there appears to have bought in slightly larger chunks of late (off radar for me looking at small bundle daily AIM trades). Could this be a mechanism for market makers (MMs) to store up some stock for onward selling at at later date before a likely rise in SP or a deep walleted PI? Keen to get other views if MMs since I thought they could not hold positions on stocks overnight, but is this other stock channel a possible mini investment reservoir for institutions to delay SP rises or play at pricing dynamics over time? Thoughts /input/insights very welcome please...so possibly someone or a few someones appear to have soaked up the recent smaller sells on AIM perhaps.

The below web information gives more information on the types of users on the AQSE - presume we are in category 2 ACCESS - "smaller high growth businesses":

================================================================

The Aquis Stock Exchange (AQSE) is a primary and secondary market for equity and debt securities. It is part of Aquis Exchange PLC, which operates a subscription-based exchange offering pan-European cash equities trading. AQSE is authorized as a Recognized Investment Exchange, allowing it to operate a regulated listings venue.

AQSE is divided into two segments:

1. **Access Market**: Focuses on earlier-stage growth companies.

2. **Apex Market**: Intended for larger, more established businesses.

The traders and users of AQSE include:

- **Institutional Investors**: Such as pension funds, insurance companies, and mutual funds.

- **Retail Investors**: Individual investors who trade for personal accounts.

- **Market Makers**: Firms that provide liquidity by being ready to buy and sell securities at any time.

- **Corporate Issuers**: Companies that list their shares or debt securities on the exchange to raise capital.

AQSE aims to provide a fast, straightforward, and cost-efficient pathway to IPO for growth companies.

In my view (to be confirmed in coming weeks) I think sellers have largely sold out now and therefore stock is becoming more tightly held ( eg me! and others) - with positive expected catalysts that bodes well for SP as we get nearer the big reveal. I think the Trump adverse impact effects on ITX have been over done given tax offsets for US manufacturers etc so that needs to correct fully in the share price too.

Found it: is President Trump considering a tax reduction for companies that manufacture their products in the you in the US

Yes, President Trump is considering tax reductions for companies that manufacture their products in the United States. His proposals include cutting the corporate tax rate from 21% to 20% and potentially reducing it further to 15% for companies that produce domestically. This initiative aims to incentivize domestic manufacturing and bring jobs back to the U.S.[3][7].

Citations:

[1] Trump Tax Cuts Revived American Manufacturing – Ways and Means https://waysandmeans.house.gov/2025/01/02/trump-tax-cuts-revived-american-manufacturing/

[2] U.S. Department of the Treasury Releases Guidance on Domestic ... https://home.treasury.gov/news/press-releases/jy2788

[3] Trump Tax Policy in 2025: What to Expect | Cherry Bekaert https://www.cbh.com/insights/articles/trump-tax-policy-in-2025-what-to-expect/

[4] The Golden Age of American Manufacturing Starts with the ... https://waysandmeans.house.gov/2025/01/24/the-golden-age-of-american-manufacturing-starts-with-the-extension-of-the-trump-tax-cuts/

[5] TCJA 2.0: Tax Cuts, Tariffs and Revenue Raisers | 02 | 2025 https://www.debevoise.com/insights/publications/2025/02/tcja-20-tax-cuts-tariffs-and-revenue-raisers

[6] Inflation Reduction Act tax credits: A complicated path in 2025 https://www.plantemoran.com/explore-our-thinking/insight/2024/12/inflation-reduction-act-tax-credits-a-complicated-path-in-2025

[7] Potential Tax Law Changes in 2025 Impacting Manufacturers https://www.wegnercpas.com/potential-tax-law-changes-in-2025-impacting-manufacturers/

[8] Tax Credits | Manufacturing.gov https://www.manufacturing.gov/tax-credits

[9] Production Tax Credit and Investment Tax Credit for Wind Energy https://windexchange.energy.gov/projects/tax-credits

Ah was not aware of this Geraldus - are the US considering a small company tax rate adjustment to counteract the new import tariff impacts for companies like ITX? Thx Will google it! Will come in handy for 2026 + if this is the case!