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I'm really hoping the coin has finally dropped about SNG001's PP bandwidth potential within the UK HSA (PP initiative team anyway). Now perhaps (hopefully) they finally realize that the UK investment cost of helping co-finance another good phase II/III to launch SNG's product is far cheaper than the probability weighted economic impact cost over the next 15 years (i.e. the alternative possible threat of 1.0%-3.0% of the population heading for bed blocked hospitals/ICU's and poss. lockdown mark 3/4 in worst case scenario). Surely a rapid PP deployment SNG001 home delivery service via amazon drones for selected @risk population / groups is much better than waiting 4-5 months before UK vaccine manufacturing crew can synthesize and bulk up version 12 of its RNA vaccine once they know the molecular sequence/structure and can design a work around vax with some poss. side effect/contamination risks that folks want to avoid?

Indeed - rapid deployment thx. PP potential without having to mess around with molecular biol/genetic sequencing etc to understand vaccine hot spots and emerging mutations/new epitope structures and 3D configurations of pesky respiratory viruses. Simply a no brainer eh? All SNG investors all spotted this one 3 years ago didn't we so why the new interest now?

IMPORTANT NOTE: PLEASE INVESTORS do not bomb her LinkedIn profile with views unless you have the sales navigator incognito LinkedIN paid premium version. She will see the interest and I may lose some future influence and traction.

Why? It could be to mitigate severe future egg on face that SNg001 was overlooked by many in government / medical establishments and HSA as a worst case PP

prevention measure for any further dangerous respiratory viral variants. And Doc you did not see my CSO email to UK HSA so have no clue the manner it was written, its contents and the authority in which it was sent so perhaps it has material influence....or you can ignore or contradict what I am saying here

Doc. A possibility is as I mentioned earlier in this thread (if you missed it): re: my outreach to UK HSA last October 23 concerning major PP risks via LinkedIN and direct email follow-up to the New CSO. UK HSA may believe they have been remiss in not opening any kind of dialogue/wider support/engagement with SNG at all before 2023. The CSO who I connected with is clearly very closely acquainted to the co-speaker at the event tomorrow - Amanda H and it looks a bit of an unlikely coincidence:

"I'm not getting too excited but FYI (importantly) I did connect on LinkedIn during Oct 23 with the new Director General Science and Research (CSO) at UK HSA to flag my serious concerns about emerging mutation cracks within the UK's wider PP vaccine and therapeutic strategy and mentioned SNG001 as a specific illustrative case of wider thx. agnostics being somewhat ignored at great potential future PP risk. I sent a detailed follow-up email at the time with full detail of said concerns. Amanda Horton is acquainted to the CSO in LinkedIn. Senior Scientist / Project Team Leader at UK Health Security Agency"

So this may have been one factor considered by the UK HSA to connect and converse with SNG team at the end of 2023. Its either genuine or possible risk mitigation for the CSO - no idea which until we know more tomorrow.

I'm not getting too excited but FYI (importantly) I did connect on LinkedIn during Oct 23 with the new Director General Science and Research (CSO) at UK HSA to flag my serious concerns about emerging mutation cracks within the UK's wider PP vaccine and therapeutic strategy and mentioned SNG001 as a specific illustrative case of wider thx. agnostics being somewhat ignored at great potential future PP risk. I sent a detailed follow-up email at the time with full detail of said concerns. Amanda Horton is acquainted to the CSO in LinkedIn. Senior Scientist / Project Team Leader at UK Health Security Agency

Dec 2021–Present 2 yrs 5 mos

Senior Scientist in the U.K. Antiviral & Therapeutics Task Force and current lead virologist of the antiviral lab team based at Porton Down. We conduct research into the efficacy of antivirals against SARS-CoV-2 variants, seasonal coronaviruses, influenza and other priority pathogens as part of the UK’s pandemic preparedness strategy.

The other connected point is that EU supply agreements may stipulate EU plant access to avoid potential for interruption of supply. That's why I think the Bod will do everything to invest in plant capacity as soon as contracts become highly visible

Hi DB. My thinking on capacity is that these new product streams gobble up capacity at prob at least twice the current rate. In addition you cannot immediately miracle up a new plant. It will prob. Take a good 18 months of prep. Planning, Cape ordering, staff hiring, staff training Qc testing and production valudation. Then you are still trouble shooting for a few months. So if the new stream was a high volume line poss. Super Abs then you could in theory run out of plant capacity and that would be severe for the Unilevers or Reckitts of this world and we may pay large penalties under supply agreements. That's the point here.

SI - you said you were having a 9 months break from ITX after selling out (that was a short interlude indeed!); are you sure you are not trying to buy back in coming weeks or days after rubbishing ITX's opportunity outlook? Why would the company invest say 80m GBP since inception? Why would there be a professional raise at 250p more than 1 year ago? Why Why I could go on. Thank you for your efforts I have just topped up twice now - as they say "buy after bad news sell after good news" as you wait on the sidelines to do the same.

there is no explanation for why you are here. Even John fails to see the connection with the share price (undervalue) as I do so go speak to him is my suggestion.

We are well oversold on this news for sure. The scaremongering has successfully taken money off some poor PI investors and they have lost some fair value as a result. As I said the professional price one year ago is the best placeholder today at c 250p due to massive strides of the company in 13months offset by this growth related little bump in the last few days that still will likely inform more positively on diversification advancement very soon...when we get all the rationale amd news that John has to say something about in coming days

Hi Thordon, welcome back. I think John has to reveal more of this cards in the next few weeks during the full year financial discussion and I agree things don't add up at the moment. We have an ITX puzzle to solve => “when does -1 equal +1 for ITX? The timing of this arguably very preventable customer loss decision by the BOD is intriguing, counter intuitive and strange all at the same time. After sleeping on it, I have come to the view that there must be a key strategic business reason for the BOD decision and it’s a reason that can only make sense from a major ITX product diversification opportunity perspective (e.g. functionality / value added product v’s price competition lower value added product supply). The company must be on the verge of something important that is yet to be revealed in its diversification journey is my take on whats ahead otherwise it was so easy to offer the marginal customer another 6 months of GM positive product supply.

Good luck with investing outside the world of ITX SI. If you miss some pivotal diversification news you know how the share reacts so may miss out. At least you are knowledgeably abstaining until post January. As you say you want to keep an eye on things so maybe you will be tempted back sooner should John have another curve ball in his pocket in the next 9 months!

SI - that's just because you sold out and want to re-buy at lowest entry price and I disagree with your assumption no news will be forthcoming upside to change to SP materially upwards until 2025 - thats a crazy suggestion given that small buyer runs can change the SP markedly.

Adding point 7 just come to mind for completeness; in John's recent share soc presentation (I recall but could have been another one) he openly stated and discussed with a delegate that he more often than not cannot reconcile the share price performance to the BOD's view on underlying business performance characteristics/market opportunity/progress. The risk situation of the existing leaving customer was known at the time clearly since many rounds of negotiations had been taking place and a stand-off was in place. So for him to say he has never seen a better outlook for the business over the last 3-4 years then this must be a strong factor to consider in his positive state of mind and ability to push out a under-performing customer relationship. Im sure John will provide more background and context in coming days/weeks.

With respect to your comment Paris as ever there are many deeper details on this matter and it is not all due to the BOD (and may in fact not be a BOD contribution issue at all). There may be a contribution from any of the below factors amongst other things that I am sure others may comment on:

1. Limited free shares that are being traded sometimes with 'group think' creating bigger dips of oversold and peaks of overbought around the mean and at the moment there is a greater possibility of the former;

2. Some PIs/investors not knowing (a) the wider value of longer term R&D strategy and sum of the parts of the ALL the

company's commercial investment assets and (b) Mgt's tradeoffs when dealing with portfolios of products and R&D assets (ITX is not quite as long an R&D gestation period as pharma, my subject matter area, but obviously has similar features and traits squashed into a series of, say, 2-3 years $ investment cycles).

3. UK general short termist share investment culture - it looks like this is at a height currently, just before interest rates relax to longer run norms again (that's one of the reasons why we now have access to N American PIs through the share restructuring efforts, so await future benefits from that as and when the coin drops on our undervalue situation here State side).

4. UK PIs - overly focused on here and now revenue / profit metrics and some sellers throwing the baby out with the bath water over-selling. Also not helped by BoD not wanting to over - guide the market on upside potential (prudence that lends itself from traditional accounting practices).

5. Lack of consideration of most here of the last rather solid professional investor round given these professional guys had access to more inside knowledge of future outlook/opportunity. Arguably, the 250p (5p old money) more than a year ago is still a good benchmark now due to good diversification progress since then, offset clearly by the leaver marginal customer profit impact in recent days.

6. ITX cannot be held hostage to shareholder fragility to run their day to day business - they have to focus on long term shareholder value / creation and that is what they appear to be doing and John and his team have just proved it to you - if the BOD had not ejected this 'marginal' customer in 6-12 months time some here would be annoyed and frustrated that key diversification customers failed to order due to supply chain resilience concerns/capacity. We just dont know all the facts right now. The BOD have full knowledge on the business we do not as small minority investors; we need to trust their decision making and read the tea leaves as insightful outsiders.

Other thoughts welcome Paris - I dont mean to cut you off in order to get the best of all of us on our ITX BB which has been very good to date

IMO The bottom line is that we deliberately dumped a marginal customer for reasons explained re: profitability. The fact the Board did this indicates a position of strength in the wider portfolio and progress for diversification. We have yet to see how that plays out in coming days in the announcement but for me the intrinsic worth of ITX assets is above current share price, but do your own research, on the science , patented chemistry and recent data/CEO messaging.

Hi. I did not first call out Dr Greg, it was another person on this BB. The product range is quite diverse and seemed to fit circumstances but others can comment if the customer was another one.

I've just also noticed another new sales category in the Broker forecast detail - its called mysteriously "Other" and sales commence this year at $0.25m then 3x upwards in 25F, then doubles again in 26F. So something is quite close and presumably the Broker has been quite prudent at this point with the forecast est. since its a new line item. It will come from the company is my view (subtle messaging to Broker on upside).

Sorry typo Broker target 19% down not 12% .

Some more key information and thoughts to take home from the Brokers note based on further review:

1. Interestingly ITX ARE still going forward with a new production plant - that's strange isn't it given a large loss in production volumes in 2024! The capex projections for 2024/25/26 are in total c.$4m which compares to $0.8m in the prior 3 years. 500% increase in capex with a fairly low capital intensive business. Big growth plans are ahead (based on strong pipeline and smiling John on recent interviews) and as I said before in my plant capacity note - there is a near term capacity constraint (scarcity issue) and the timing of freeing plant capacity is absolutely pivotal to ITX confidently assuring new customer orders and diversification wins with the transition to higher volume diversified products (e.g. superabsorbants/paints/leather etc)

2. We could not lock in the plant for the whole of FY 2024 to a business customer that was delivering, say, 20% Gross margin - less than the average for FY22/23 for the business as a whole of c.29%. In the case of this 20% GM it is unlikely given SG&A and tax we would bearly scrape, say, a PAT 2-3% at best => low margin busy fool volume.

3. After spending the c $3m on a new plant we are still left with $c2m cash in BS in 2026 when we are op. cashflow positive.

4. Broker note made a point that the "customer" - assumed as "Dr Greg - Dear Sensitive Home" from another poster detective (which seems probable based on their web site comment around plant science and linkage to multi carbon based chemical backbone). Broker mentioned said merchandiser was trying year on year to push back the ITX commercial terms to the point of unreasonableness - The outfit seems to be quite egotisticially driven from their web site and I believe they have cut there nose off to spite their face by terminating their customer offers in favour of "detergent concentrates that use less plastic"

"You may have noticed all their products are displayed as SOLD OUT. This is because they

are making an exciting transition from diluted spray and detergents to concentrates." Good luck Greg when you lose 100% of your existing branded product lines very few businesses actually survive in the long run especially with a 6-8 month supply issue before the next launch of different products => massive loss of confidence in company

4. Price target from Conaccord Genuity is -12% down 400p - 325p - Our share price is more adverse down at this point. I still think investors don't really understand that we have significant sunk cost investments within 'In process R&D ' that is about to start selling and has reached almost launch readiness (shoes/paints/super a's). These assets have no revenues or profits but must have a material value. My guess is that its at least GBP25m (if someone wanted to step into our shoes so the speak). So the Broker -12% reflects these R&D assets and counteracts/dilutes the short SP term reaction in my view.

The