Member Info for ExMS

Re Volz
The JV with Volz was made on the basis that Virosynth was paying for 50% of the update/replacement of factory lines. Due to a lack of cash to fund its 50% obligation NNN was to offer Volz £0.5m of warrants at 1p. The stock has never traded close to that and now Duffers has effectively sold 20% of NNN at 0.55p. The warrants are totally worthless. I What would you do if you were Volz?

-I think

And I the Volz JV is as good as dead

@Trisor
Re Duffers I’ve listened to his interviews and don’t find him particularly plausible and that’s important during negotiations. It’s just a personal opinion.

@Trisor
I honestly do understand why you are trying to be positive. But this is just a development agreement, they happen all the time. Most will come to nothing. The thing is the space they are in is already an established market. Just think how difficult it will be to bring a cosmetic to market, with all the associated testing that is needed, especially for a nano product which is going deep into the skin layers. It would take years. This company doesn’t have any products to sell or any revenue streams so it will continue to burn its cash. What does surprise and what I do see as a positive is that somebody actually wanted to do any sort of deal with Duffers. I didn’t see that coming.

https://www.nanowerk.com/nanotechnology-in-cosmetics.php

Here’s an interesting article and gives some perspective
https://www.nanowerk.com/nanotechnology-in-cosmetics.php

@NFF
I heard a word yesterday which I think perfectly describes of one or two people on here. The word is ultracrepidarian. Guess who? Lol

@NFF
I think you mean alter-ego! Ultra? You’re funny. Stupid funny. But funny

-worryingly

@NFF
I think most of us understood the implications of the deal on Friday. You clearly didn’t and worrying still don’t!

@ Cuvio
Absolutely. Enjoy.

And btw I appreciate the message Cuvio. Incredibly I was just composing a message which would have asked whether I would be entitled to my sweet!! How funny. ATB

@Cuvio
Thank you kind sir I’ll have the purple Quality Street one please if I may? Right or wrong I suddenly feel I’m up!! Small mercies because unfortunately the US markets are not.!! Keep your mouth closed Powell I say! I’ll absolutely return the favour one day Cuvio. Dictum meum pactum. Happy bank holidays:-D

That was a reply to you Trisor!!

I think the fundraising was inevitable here. No sales/revs etc and and dwindling working capital. They also knew the mkt wouldn’t cope with a rights issue. So they’ve had to do what they e had to do. No choice really. Awful terms but it buys them some time.
Congratulations on your other investment though :-D

@Trisor
These funds aren’t for an SA though. They are to fund ongoing operations, in other words keep the company afloat whilst it continues to haemorrhage cash

@ UG
Gotcha. Thanks. But they managed to squander £2m in the previous 6 months and I can’t see how/why they would have a lesser burn-rate now? Perhaps the BoD could explain how they torched this amount. It’s a mind-blowing sum.

Hey Dr M
What have you got to say about a capital-raising just one month after Duffers claimed that £1.8m was enough to keep operations going for for 12 months?
I’d like sensible answer please which must not include the following:
How great you are
How many houses you have
How much money you have made trading this stock!!

It’s a toughie I know!!

But this only keeps the lights on for 12 months at the current burn-rate