Member Info for ForFXSake

It was tiny flutter on some leftover cash. The rest is in ISA and pension, so no worries on my part but they are stiffing people without consequence, nonetheless.

Asking for 100% margin is one thing but to force you to close the position entirely before the agreed term is completed is nothing short of bent.

Oh well, looks like I shall just have to transfer in the £100 they require and hope that Anne delivers some well overdue good news.

I would consider a 20p valuation just before the end of March to be a fair & just shafting for them.

Just got the email confirming that they are withdrawing leveraged trades for 900 shares. All leveraged positions in these companies be closed by 29th March.

Can I have April 1st?

I have a very small long position with IG on NFX which expires in June, its less than £1k. I don't tend to use spread betting for shares but I put it on using a bit of spare cash I had left over when I moved the capital into another type of account. They usually drop an email to tell you of any changes that affect you. So far, I haven't received anything to tell me that the margin requirement is set to change.

Sorry 160% rise (need to work on my adding)

Still not bad

A 260% rise, we could do with some of that kind of action

Vistagen appear to be up nearly 24% pre-market.

From July 22 2020 results:

"Nuformix's NXP002 programme remains the Group's priority and entails the development of an inhaled therapy, initially for the treatment of Idiopathic Pulmonary Fibrosis (IPF).

Our focus is now on the development of a formulation and delivery process that exploits the optimal means to treat fibrosis of the lungs, through nebulisation of the drug to facilitate inhalation by the patient. We are considering a number of inhalation devices that would enable rapid and deep penetration of the drug into the lungs with a view to evaluating them further."

No mention of a timescale in relation to this though.

The section on NXP004 which follows after in the report does make reference to the pilot study being completed by December 2020.

Is it possible you got those wires crossed?

No pressure.

A link, for anyone interested

http://www.globenewswire.com/news-release/2021/02/11/2174576/0/en/VistaGen-Therapeutics-Reports-Fiscal-2021-Third-Quarter-Financial-Results-and-Provides-Update-on-Expected-Clinical-Studies-in-Calendar-2021.html

I know I keep banging on about this but I'm not convinced that we've heard the last of Vistagen. They released 3Q result on 11 Feb and the following excerpt was included:

"Finally, later this year, based on successful preclinical studies involving AV-101 alone and in combination with probenecid, we will launch Phase 1B clinical development of the combination to enable potential exploratory Phase 2 development of in several CNS disorders.”

We were involved in the probenecid combination work. Now it is entirely is possible that they could have been working with others and have decided to opt for an alternative approach instead but as we haven't heard otherwise, we could still be in the running.

NFX silence on the subject may be down to Vistagen wanting to keep things under wraps until their planned investor update sessions in March.

They must be close to delivering something.

You can't wreck investor confidence in a company like they've done over the last year, then start to rebuild it by putting a new management team in place, then kick it down again with another boardroom departure before the new BoD has taken root, not without having something positive to deliver....surely?

The other thing I find unusual about today's events is the price reaction. It's barely moved, as if the market had already priced it in.

It doesn't harm to ruminate. I don't profess to know what is actually going on here, I'm just asking questions and posing theories just like everyone else.

If what you say is true, then it suggests that CB's departure is scripted and not down personal reasons at all. He couldn't wait to get out, in other words. If that is so, then why would he bring in people from his past, people he perhaps trusted before and introduce them to the 'mess' he was desperate to leave?

Yes, I noticed he'd removed himself from LinkedIn this morning, which I thought was slightly unusual.

It's a shame. Normally, in the case of personal or family illness, or even sudden bereavement, one might hope at least to consider a return at some point. I can't think of any other personal situation which would call for such a sudden and hurried departure.

What other ventures? I was curious about that myself but when I looked earlier he did not appear to be linked as director for any other organisations on Companies House.

If what you say is true then it raises further questions about what is really behind all these departures. Are the reasons given genuine, have they just given up and decided to pass the buck to fresh blood or is this in someway linked to the elusive and somewhat mythical NXP002 deal? Perhaps a constraint on who the 'partner' trusts to be involved in any future relationship?

I'm grasping at straws now but there is no other logic to the madness that has occurred in the past year.

So how much money has been wasted there, I wonder?

Those lawyers?

I think I know what you're saying there Mars.

It would be reassuring to think that all this upheaval has been for a reason.