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Do not ever mention TW on this board please.

I've only been in a month so no mental baggage and I am happy to wait for H2 to do its thing.

The -Hat. How strange because I invested here only due to Salarius (the salt). I discounted all the other businesses from my thinking when I made that decision. I would not want to wish the "herd" (or whatever you like to call them) on anyone. It means volatility and nasty individuals suddenly appear, and one has to spend all day ploughing through a load of rubbish posts.

Preaching to the converted here Attyg

Yes something odd is happening. It's like an earthquake in Eden terms! Back to the IP I really think they can sell off bits of the IP - that's what the Board used to say. I doubt any company would need the whole IP in every market

"He is already making a big impact as CEO and opening up important new opportunities for the sale of our panels."  

Goood enough for me - he has the right contacts in the right sector to make a big difference. Just one contract would make a world of difference

The Hat they have also lodged a new patent application on the way they can attach it too so not just IP in the production of it apparently. Will be hard to copy I suspect and I don't think other companies have been goingndown this avenue rather than trying to make new chemical formulations for non sodium replacements all of which seem tonaffect taste

I read them at about 4am this very morning! All my important research is done in the wee hours. What I like most is the fact they are pulling in £1.2m from professional services revenue (sales to University spin-off companies I think) which covers half the annual costs. So this reduces the amount of new money needed. Most of the raises so.far have been for Bellascura so just need that one to float. The 6 May results are still predicting H1 (this month) for FDA clearance......

The-Hat -
If a food manufacturer wants to do that then they will have to pay for it, as it is IP protected technology.
I think all the action is going to be in the snack market as that is the real biggie and that's where the extra adhesive quality of the microsalt can make all the difference. Looking forward to seeing how this goes in H2. There will be lots of news to come in my view.

There have been a few posts from me today. Just thinking out loud on those snack sales markets. They really are very large markets:-

My conservative assumptions:-

10% of Mexican market = 500m
1% Royalty on total sales = £5m pa sales revenue
PE of 10 = £50m (current market cap = £13m or $16.25m @1.25 dollar to £ conversion rate)

Add in USA too where the market is 20x bigger
So 10% of USA market @ 1% royalty on snack sales is worth $100m pa in sales revenue - a combined total of $£105m pa with Mexico.
So that gives a >$1bn company valuation, or approx. 60 times our current market valuation.

I dont think that's ludicrous for the size of the market. Even a tiny 1% market share for USA and Mexico would generate annual sales revenue of over $10m which would make this a 5-10 bagger but please tell me if you think I have got it wrong.

For clarity I did not seek to suggest that fair value for the company is only 20p. But on a bad day, and after 20 years of waiting it is a price I said that I would be happy to take. Hoping for a whole lot more of course. The IP value could be very substantial. For one thing the regulatory process takes years and tears to get through ..... see my comment above!! That makes a buy out more likely imo.

- Revenue in the Snack Food segment amounts to US$5 bn in 2020. The market is expected to grow annually by 9.1% (CAGR 2020-2025).
- In global comparison, most revenue is generated in the United States (US$101bn in 2020).
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Mexican market is interesting due to the new regulatory pressure and what TEK said in their 2 April regulatory news release.

* "....so some of the salt is ingested but not tasted"

Fair comment in general but this one is a simple proposition so not hard to make the leap of faith.

I've done quite a bit of research on the microsalt proposition as it interests me the most. You refer to adhesion but it is not just that factor at work. The smaller size of the granule also means that more salt is actually tasted. .... What happens with the larger granules is that they are swallowed before they can be wholly tasted salt is ingested but not tasted.

Imo micorsalt is a fantastic product and will be a commercial winner in short timeframe.

TradingLad - there is no change of taste as it is just salt with a different size granule. You can achieve 50% salt reduction for same taste. In this space the companies with problems are those who have devleoped artificial salt replacement products where change of taste are an issue, as well as regulatory approval of new chemical formulations.

Pepsico were definitely interested in this market in the past and my interpretation is that they missed their chance to develop their early headstart and IP. I am not quite sure why they lapsed but it is easy to see how the market has moved strongly in favour of salt reduction from a regulatory perspectice and a commercial perspective (buyer's preferences). With those factors in play now if you ask me Pepsico and similar brands will be all over this now.

Imo Salarius, then Bellascura, then Guident in that order.

Bellascura news - I do think the FDA clearance will happen in June but actual sales and AIM float will take a bit longer.

In time Guident could interest a big tech company but I suspect this won't be immediate. Proof of concept comes first. It would obviously be a big winner if it does come gosod.

Salarius is in pole position because sales are happening now and the take up by major brands will be fast. It is a simple solution to a big worldwide problem and since success is linked to existing popular worldwide brand sales the crucial part of it - route to market - which is normally the toughest part of all - is practically guaranteed.
I am ignoring LucyD too - for me it is just a niche product, and the market will take time to develop fully.

Hi Researcher - my last post was definitely pessimistic on buy-out price. It could be quite a bit higher than 20p and might also leave other bits of the business to Eden. Eden can package the IP for sale as they want to. I still have a large ish holding here so 20p would also give me a similar profit to you. I guess that's relevant context too given my comment. My point about Corteva is that they will know an early bid can be enticing to shareholders and to the board if it will in fact take the company time to ramp up sales over successive growing seasons. Corteva is half way into its evaluation agreement. My view is that a bid would come Q4 2020 after the Eurpoean growing season ends.

"Corteva will have until the end of 2020 for the exclusive evaluation of products which use SustaineTM in select seed treatment applications"

Either way you look at it - medium term or long term (and maybe short term too) - this iron ore mine will get investment and it will be developed. That means anyone can make money on a current valuation of 8-9l.

2m buy at 4.15p. Someone is keen to suck up the placing shares