Member Info for Florida

Boyzee - not sure why your getting a bee in your bonnet. I thought I was pretty clear and no accusations to anyone in particular, certainly not you. If you are suffering from an inate guilt complex that's your problem to overcome. However, I repeat, there are a number of negative posters and there will be more.

Flipper - like your idea about a relaunch on the 25th. With litigation over it is essential the international community see's this company in a new light. We need to start claiming back all those near misses by opening a new paragraph in the book of Premaitha. However, can't see any benefit to issuing other news before the submission date. We do need reasons to push the price forward but not when we are locked into a placing phase.

Twix - sorry to say but yes. I'm going by what I've seen over a long period and possibly hundreds of placings in various forms. As I said yesterday "This is by no means a given", the odds of this moving in any meaningful way are slim but not impossible. Three factors have to work together in order to break us out of this. Volume, buying power and share shortage. All other factors are put on the back burner until shares are submitted. Imv volume at the moment is pretty good but not overly swaying either way, so you will see a lot more negative thoughts thrown into the pit over the next week or so to slow down the buying (obvious to see some already here). Most of the shorts are already closed off at 10p, so if shares are in short supply you could see a price rise but I doubt it. Any news from now to the 25th will have insignificant impact unless of course a takeover is announced, in which case I would deem them all to be psychopathic loonies. On the bright side, I am really looking forward to the 25th, and with successive high impact news bulletins over the next 3 months I can see a substantial rise toward Adam Reynaulds option point.

Interesting to see those large after hours trades over the last few days. Presumably MM's moving stock around, usually to show they still have plenty of stock. The reality could be that's all they've got.

There's a certain irony in the fact that we waited 3.5 years to be released from litigation to allow news like this to have an impact. Now we are stuck in the placing phase where news has absolutely no impact until the shares are fully submitted. I suppose we can fill our boots and rejoice in the fact that another £1m added to the revenue with an open door to additional contracts with a new product. All looking very good.

Boyzee - don't torture yourself, your looking too severely into what is natural procedure. No reason other than opportunity to buy at placing price. Lets see what happens on the 25th, we all might be pleasantly surprised.

Couldn't resist.

Traditionally the price is held within the placing zone (10p) until all shares are submitted (25th Oct). This is by no means a given, however, realistically I can't see this moving either way for the next three weeks. There will be a concerted effort to push this down to 9p, at which point I will be expending the last of my spare cash. What's interesting is the date of the AGM, curiously on the same day the shares are issued. Could be an announcement of sorts having then acquired support from the market to push the price forward.

It has been discussed recently and does seem to be of concern to some whether the product (NIPT) could be superseded. The percentage accuracy of nipt is imv a preventative measure in it's own right, however, if Illumina or anyone else decided to equal or better Premaitha's NIPT product they would have to come up with a completely novel or new idea to avoid infringing on Premaitha's patent. The settlement deal was achieved in part because there was literally no way to compete. So there you have it, two fighting giants showing interest in little old Premaitha, not because they were sold on the hype of the company when it was first listed, but simply because the product could not be beaten.

To your credit Dibs61 that's quite an interesting point, unfortunately takeovers are not inherited they are propagated from events and changes within a company that are seen by a potential buyer in a new light. For sure the game has now changed and we are in a completely different environment to that point at which litigation ruled. So it does make that opportunity more likely. Moving on, changes to the internal structure of the company can build on the established interest already undertaken by a potential buyer. Recent BOD changes are already part of that structural re-processing and imv vital for the company to move forward at the pace required. The pace of acceleration will determine at which point a buyer might decide to jump in. Imv, if it's going to happen it will be around the time of the next figures.

Sorcerer - On the face of it, even though the placing has been fully taken up, the bod seem to be tied into the 25 days to complete the two tranches. I can't see it but I wonder if Reynaulds has worded the RNS to leave open any sort of retraction to give the opportunity to complete on the 4th. I thought the idea behind the extended period up to the 25th is if the total amount required is not achieved by the 4th an additional 21 days is available to seek the full £2.5m. This could, in theory, be over very quickly.

Interesting Twix, TW answers a few questions.

Got to say back in January I was very much against the idea of a takeover, however, the situation now is quite different. The settlement cleared the road to revisiting every borderline potential, litigation hindered contract that didn't quite bring in the bacon. It also opens the door to all lucrative areas avoided because of patent infringement liabilities. From this, a whole new market place has opened providing over the next year an immense new revenue stream. Without doubt,any interested party would view these changes as crucial factors in terms of value, and potential.

I have been told that agreeing with flipper twice in 3 days could cause an embolism, but I'll risk it. Yes, a takeover is now definitely on the cards.

When I had "The List" back in the VIY days, part of the criterion required to get yourself on the list was anyone who used the "going concern" card as a means to deramp the company. Even then, all those years ago everyone new that every company was obliged to provide a going concern passage in the final or inerim results as a protection to the public. I'm pretty sure we don't need a list now, we are all big boys here and besides, we all know who's playing the card.

Healthy days ahead as far as I can see. GLA

Just a thought - all RNS's on my list were headed as follows -

Unaudited Interim Results
for the six months ended 30 June 2018"

Curiously, the heading for last years RNS states as follows -

"Full year results to 31 March 2017 and half-year trading update"

Confusing to say the least. Going back quite a long way but I can remember somthing about how Terry Bond addmited to setting the company up wrong and somehow submitted the finantial starting date for the company on the wrong date. This is all very vague but I'm sure Bakky's the man to remember what actually happened.

I watch about 75 companies and 19 have placed their interim results today, all at different times, most early morning.

It really is laughable to see anyone drop out of this money tree. I posted a while back that all anyone had to do was wait and everyone would make a decent profit. The price was then 7p and the totally unexpected Illumina deal was only a distant hope. This company without any doubt is in the best position it's ever been in since day dot, and with future prospects to die for. Litigation has been with us for more than three years and now its gone people still panic over the idea of a simple placing, absolutely unbelievable. Got to give credit to flipper, can't believe I'm saying this but I agree with everything you said over the last week and Sorcerers figures are not far off, albeit timescale may be a little wayward.

The way I see it we currently have about 23 contracts (from memory) and some of those earlier contracts had as I recollect, potential earnings of more than half a million and must at this time be fully operational and turning profit at maximum capacity. Sinse those early days we have accumulated a number of substantially larger contracts with populations exceeding 300 million. Genoma, when operational generated £800,000 in sales in its first year within countries across Europe, were nowhere near full operating capacity and a population far less than 300 million. So in my view there has to be considerable profit making capacity within the already established contracts, enough I would suggest, to generate 8 million with a 4 million profit. Which would give us a figure of 30p based upon Sorcerers figures. However, companies are not valued by present profit alone and projections for the forthcoming year could well exceed 10 million with turnover in excess of 15 million, pushing our price to Sorcerers 77p. It's al determined by the speed at which the likes of India brazil etc achieve full capacity. All very much guesswork but just as feasible as the figures suggested in the Hardman Report. If there is a placing it would be an incredible and last opportunity to buy into a fully established gold mine at a very cheap price.

I think we should forget about TW's half penny worth for a moment, supposition that it is, and concentrate on the possible reasons why this has risen so rapidly over the last few weeks. Regardless whether Tom's again playing mind games or not, you can't alter the fact that an increase has occurred and the possible reasons are in my view as follows:-

A deal has been struck with Illumina.

A potential buyout in the offing.

The market has rerated the stock based on increased gross turnover.

The first two could indicate a reason why we have a silent BOD. However, my first thoughts on the rise were placed firmly on the latter of the three. Many of the contracts signed over the last year would be accruing their first sales showing within this last six months trading period. Taking into account breakeven occurred within the previous six months, all would be not far off clear profit.

Good luck to all long term holders. IMVO DYOR

Things are looking great for me. 50% of my overall stake on a free well and looking like a chance of buying the other 50% at 4p now. The more it drops the cheaper the buy in if it fails. The games on.

I think 90 mb equates to about £1.5 billion. It should reach about 80 - 100p. All looking good.

Victor - I'm sure you are a very nice man or woman at heart (got to be gender conscious today haven't we. Don't want to upset the BBC do we) but I can't remember seeing anything from you that indicates a positive view about MATD. For this reason I take everything you say with a very finely chopped pinch of salt.

You do have every right to say what you like, but please don't get upset when I or others ask you what news delay?. Operationally, Mike Buck must be up to his neck in it, mobilising what is in effect four wells all on top of each other. I'm sure telling the likes of you and me every detail as he goes along his every day business is the last thing wants to do.

Proselenes - This is what I don't understand, what reason for the delay?. What delay?

We still have nearly two months before anything on Block xx spuds, so what's the problem. Don't mean to sound rude but it sounds like your just trying to think of thing to say.

Proselenes - Sure, things change and events happen admittedly but what's changed and what's happened?

Victor - you are the epitome of fake news, if there is none, just invent your own. There is absolutely no reason to suggest Block xx will not take place. If you think of it, they have to submit an RNS for the result of SL, so why not save £450 and put information about not only Block xx, but also WH at the same time. Doesn't this make the best sense.

Mike buck in his last interview with LSE stated that he dislikes not carrying through what he says he is going to do. I see no reason why Block xx would not be drilled if Mike Buck says it will.

Many on here were debating for more than three months whether workforce permits, drill permits rig mobilisation etc were all completed. Many of these questions were answered in the RNS's on the 14th May and the 25th May. I see no reason to send out an RNS at £450 a pop, each time a minor event takes place. So where is the problem.

This is RNS dated 25th June 2018

Seems quite clear to me. All four wells to be completed before the end of November.

"The drilling programme scheduled for Block XX remains on track. Contract negotiations with the preferred bidder to supply and operate a rig are in the final stages. Formal award of the contract is expected by the end of July. The selected rig is in country, is operating close to Block XX and is available from Q3 2018. Permitting for drilling is progressing and the first well, on the Gazelle prospect, is planned to spud in late Q3 or early Q4 2018. The target for the second well will be selected shortly, upon completion of detailed seismic remapping. The Company intends to complete both Block XX wells before the end of the 2018 drilling season, which ends in late November, and to retain the services of the rig to drill the Red Deer prospect in Block XX at the start of the 2019 drilling season. Red Deer has 48 MMBO of prospective resource potential in a basin which the Company believes to be stratigraphically analogous to nearby producing basins in Mongolia and northern China."

IABA - you might also consider wells 3 and 4 are seen by the company as appraisal wells with a 50% and 75% cos. In effect the first two wells are free, main targets 3 and 4 in Block xx. Each well runs one after the other with 3 and 4 partially alongside well 2, all to be completed within a three month timeframe. This sequence of events prohibits the share price decline and in fact enhances the new wells value as each well spuds. This price is based purely on the well it is currently drilling. WH will spud around the end of September with soon after Block xx on the Giselle prospect, at which point the price will be 20p plus. This may sound crazy but I have a tidy sum already laid with MATD and am awaiting SL to fail. I see the opportunity of buying more at 5p as a chance not to miss. I'm happy either way.

I like the idea that one company invested £18 million pound into Petro Matad and is taking the same risk as everyone invested here, including me.