Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.
From Mr F:
“Somewhat naive Jammy C. In 99% of cases a Liquidator would already have a law firm engaged investigating the claim. Over their dead body will they take money from a competing law firm! They aren’t stupid - a name change to “Lion Fish” isn’t likely to out fix them. And [as previously stated] Manolete gives a minimum 50% back to the creditor estate [as per their latest big case win and the vintage table you refer to]”.
@Ianblatt couldnt you just state them here ?
My husband holds Mano. He laughed when CEO said they would undercut Mano as Mano give "hardly anything away". Apparently Mano pay away at least 50% to Liquidators. I had a look at their last RNS and that looks right: £15m settlement and £10m went to the crediotrs it seems. I had a look at their website and sorry but the CEO is just lying quite desperately there from what I can see !
As you say the Convex acqn was unfortunate but the strategy RBGP say is to use Convex profit monies to invest in LionFish. COVID made Convex loss making and unless I am mistaken the pandemic is still very much ongoing. Very tough for any M&A of course. They are already well into their HSBC debt facility and have put £4m already into LionFish but litigation is VERY hazardous to predict to a conclusion (and sometimes you lose). So I cant see how that stacks up. You need deep pockets for litigation funding surely?
As for Ian Rosen: they bought the business once, why do they have to keep throwing millions at him to keep him onboard?
I am still offloading (gently). Sale quote on any major volume is awful (if you can even get one).
Hear what you say about RNS, thanks. Still doesn’t make commercial sense however.
Anyone know the date please?
Was pretty shocked to hear yesterday that they are still paying Ian Rosenblatt £millions not to compete for a couple more, even though they paid a fortune to buy the business!! Unbelievable. The CEO looked very shocked that someone knew that information....
Ian brings in literally 90% of the business. So when he goes this is worthless. By all accounts he is a greedy man, always in debt but has the management over a barrel here. This shouldn’t be allowed.
Very good presentation last night. KPIs seem to be growing ever stronger. Interims out next month. SP decline looks just like the hangover from that ************* ******. As ever the results show the actual truth.
But if you're TB that wouldnt work lol !
FYI - I dont care who you are. Everyone is hiding here. Good luck to you
"Zoom...
Just one look, and my heart went
Booooooom" :-)
Now watched. FAR better than the past imho. Minimal waffle and confusing legal-speak, maximum number analysis.
Like others missed it due to work. Will check in later. Very pleased for all here - deserved a good day for our loyalty but credit to the management of course. Last 2 years cannot have been easy....
Numis issued recommendation today: BUY. TP: £16.40. They are also very nice people :-)
Agreed Sun plus accounting is much better now.
I would agree GTx1. I have looked at this litigation funding market for many years now. My personal view is that Burford and Manolete are emerging as the clear winners. Burford for its true global scale and across the board expertise. Manolete for its unique UK insolvency specialty. LCM results were poor - $28m cash operating loss plus sub-scale and RBGP strategy flawed (their corporate finance business was meant to supply capital to its funding business but the former is not performing. They need to raise money to survive IMHO).
DYOR but that is my analysis.
Long overdue re-rating now started. Based on proper fundamental analysis 875-925p is the correct range, short term.
Solid and impressive results. No YPF noise. Shows how low the rating is for this excellent business model in the fast-growing, disruptive litigation finance industry.
Well said Zach
Agreed FFC. I am fully convinced that NYSE listing is announced on day of results which I take to be 1 Oct. Any detractors on that ? If correct then I see a very good path ahead for long suffering shareholders. Most important for me, is the credibility it gives the company after the MW episode.
Yes. Completely agree. There should be total acceptance by the market that early shareholders and founders need to move on at some stage and new shareholders and even managers new to come in the support future growth.
Indeed ! Hoping for hatch into splendid butterfly that flies up to the £10 branch ! :-)