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..if the RTO goes ahead and Kelly's acquire Ebers then one has to assume there are serious possibilities for the products.

20% royalties could prove costly in the long run, particularly if the cannabinoid market expands rapidly in the US.

The question is, how exposed are we to being taken out on the cheap at this valuation and is this an opportunity or a threat?

That may explain the silence in the RNS.

I wonder if a similar situation applies to Vistagen regarding their recent funding drive? Otherwise, why not simply state "job done and money banked"?

Well found, Soup

I think the communication from this company has been nothing but dire.

We've gone from having full on BS optimistic podcasts a year ago which drove a culture of pump and dump trading to absolute zero now regarding the status of tangible work such as Ebers and Vistagen. Why was this simply ignored in the results, like it never existed?

Some transparency on existing work would be nice, good or bad. Why has Vistagen disappeared off the radar? Why has the 51m GBP of Ebers work suddenly dried up? This is information that I believe shareholders should have access to. How else are we to gauge whether not our money is safe with the people we have entrusted it to.

If this existing, hard won business has gone sour in the last year then why? It's beginning to feel like a cover up.

Who knows. I remain sceptical of the status of these discussions.

Let's not forget that while these discussions drag on, we have a potentially price-sensitive situation where certain senior BOD's have a convenient excuse to not put their money where their mouths are. It's been a long while since any of them have bought in to show their own belief and commitment.

"So if we have a deal on the table question is have all requirements being met and are we now just waiting for counterparty bod approval."

As much as I would like there too be, there is no evidence of any deal waiting to be approved. The market is dead on NFX at the moment. If such a transformational deal was pending, someone would know. If Chris Blackwell runs a ship tight enough to stop that kind of leak then he should be Chief of MI6 instead.

I see people are inferring that NXP002 "negotiations" becoming "discussions" means that a deal is almost finalised. Is it any less likely to mean that negotiations have collapsed and they've moved to early stage discussions with other partners?

I personally fear that the new people are less focussed on striking deals and more focussed on putting plans in place to raise huge amounts of capital to push things forward themselves (and keep their salaries going).

I think we've got more chance of getting a bumper payoff from Ebers.

NXP002 'discussions' have been way too drawn out. If anything does occur then I expect it will be massively watered down in terms of revenue for us. The potential partners appear to be in no rush and have had plenty of time to beat us into submission.

I thought NXP004 or Vistagen might have offered some hope at the end of 2020 but that seems to have all but evaporated.

No idea where we'll go from here.

Maybe they're just being coy and playing hard to get.

To be honest, I'd rather hear about them seeking further funds through grants than via another offering at this price.

I've just re-read the RNS and that is true.

Let's hope it's not just more of the same waffle we saw last year.

It's a real shame Soup, if the Vistagen collaboration had yielded some promise then it might have offered hope of an early new year turnaround in price.

As things stand, it could be some time before our next RNS. In my book, near term could mean anything up to 6 months away.

YmIt's a shame NFX won't/can't elaborate further on how things went with regards to Vistagen. Unless there was some clause preventing them from disclosure, I find it difficult to believe that they would have omitted any mention from the results RNS if something was still under review. Even if it was just to say "We cannot provide further details at this time".

It leads to the conclusion that things didn't go well and another opportunity was missed.

Thompi, yes it would be nice to see them acquire some 'skin in the game'. The problem with that though is that, when they do, we will all know that there is no price-influencing news just around the corner.

That presents a problem when you have everyone convinced that a big deal for NXP002 is in the offing. If they start buying shares then people might start thinking it's still some way off...or worse.

".... it just needs the personnel to deliver."

Some clients to deliver to might help?

Any potential further collaboration would have been mentioned by now, even if it was just highlighted as a hopeful prospect.

No mention probably means dead end.

As all our hopes appear to now be pinned on the evasive pan-Asian NXP002 deal, I'm not sure how the Brexit deal will help in the near term. It may slightly increase our chances of being acquired in the long run, if we do manage to pull a rabbit out of the hat.

I was concerned about the potential impact of the new Japanese UK travel ban on NXP002 'discussions' with our multiple partners though. Then I remembered that we apparently already have an agent over there pulling all the stops out, right?

Trying to get into the festive spirit. Scrooge is on telly so thought I'd share a tongue-in-cheek take on the Dickens classic from a disgruntled investors perspective...just for a bit of fun.

A Christmas RNS:

"You don't believe in me," observed the Chairman .
"I don't," said the PI.
"What evidence would you have of my commitment beyond that of your own senses?"
"I don't know," said the PI.
"Why do you doubt your senses?"
"Because," said the PI, "a little thing affects them. A slight disorder in the board room makes
them cheats. You may be an undigested bit of director dealing, a blot of leaked news, a crumb of Chinese fortune cookie, a fragment of an underdone deal. There's more of grave than of gravy about you, whatever you are!"

Good riddance to 2020. Let's hope for a better 2021.

Best wishes to all.

PS. All events and characters in this dramatisation are purely fictional and any likenesses to any individuals/companies, living or dead are purely coincidental.

Mars,

It's almost the same message we got in the December RNS last year (except the first bit is glaringly absent this time around):

"Commercially, we look forward to further progress in our cannabinoid development agreement with Ebers whilst progressing out-licensing discussions with multiple parties for NXP002 and our wider portfolio."

I'd be very interested to know exactly how far these discussions have progressed. Are we beyond the point where they say:

"Sorry, no-ones in the office right now but if you leave your name and number we will get back to you as soon as possible. Failing that, please try again tomorrow".

It's almost like rubbing salt in the wound that they release news with no mention of Vistagen on exactly the same day that the Vistagen 100m open offer is expected to close:

"The offering is expected to close on or about December 22, 2020, subject to customary closing conditions"

At least someone's got a sense of humour

So, it's business as usual then. More blather and brushing under the carpet.

Abject disappointment for the PI's who have supported this outfit! Tops the year off nicely, I suppose.