Member Info for ForFXSake

That's the kind of statement I'd expect from the P&D merchants...not you Soupdragon.

If you have evidence to back this up then why not share it?

No. Because if it goes into administration the shareholders will probably get nothing. However, any circling vultures would no doubt pick up the IP for peanuts in the ensuing firesale.

The board may not do to badly though, depending upon how much the vultures need their expertise to progress the IP. If so, then they might be willing to offer them lucrative posts or shares to stay on.

Definitely bad for the rest of us though.

OSD, nothing has really changed yet.

We still have the perpetual 'in discussions' carrot but unless this submission actually triggers a deal then we are no further forward. We still have the shadows of further fundraisers and weaker positioning. If they are not willing to offer backing before the FDA decision then one has to ask what was the point of going EMA ODD? If FDA doesn't work, what then?

Looking at the RNS, I would have thought that they should have had answers to most of those questions already from the EMA process. I don't understand why it has taken so long to submit the draft.

At least the clock is ticking again now

Fingers crossed OSD

I'm not sure the last bit does justice to Dan's efforts to salvage the company so here's a few more tidbits (please correct me if I get anything wrong Soup)

After Dan left, he had quite a busy period where he managed to co-found TRX Biosciences, at which I think he is still currently CBO (according to their website).

He also managed to generate some IP of his own, which he then sold on to a company called Oxilio, in return for shares in that company.

He then helped the Nuformix board at that time to broker a deal with the same Oxilio for rights to use NXP001 (our most advanced IP & treatment for CINV in a market estimated to be worth hundreds of millions), to allow them to develop a novel cancer treatment in return for several milestones of around maybe £25k-£50k? each plus the promise of royalties capped at £2m per year if it ever came to market. At this point we still had rights to continue to progress NXP001 for CINV.

Then (as Soup stated) Dan rejoined to try and salvage the company but has had to do numerous fundraising rounds as the company has no income stream available.

To raise funds, he negotiated a further deal with Oxilio to give them total ownership of NXP001 for I think about £50k-£100k? Although this probably reduced our potential income streams further (as we no longer had the option to progress NXP001 for CINV ourselves) we would still be eligible to get our £2m (capped) royalties if they ever get the cancer treatment to market, while we are still around (which it hasn't so far).

Despite the numerous fundraisers (because we have no income stream) the board has also been entrenched in discussions with partners for quite a long time now. We were of course hoping for a deal with these partners when ODD was approved. However, the partners still want to remain anonymous and the goal posts appear to have moved a bit more as we have now had to raise further funds to apply for FDA approval.

Unfortunately, we're still waiting to hear that the draft has been issued 3 months after ODD so we might need another fundraiser if we ever hope to see anything of those royalties to keep us afloat....or at least until these partners get tired of hiding in the shadows and finally decide to give us some backing.

There, I think we're up to date.

I don't know about anybody else but I'm absolutely itching to know who these partners are!

It sounds like it would be pointless asking there as well Soup. You heard it yourself from the font of unbiased wisdom that is Littlened:

"Company have specifically told me that such revelations are commercially sensitive and cannot be publicised"

So we should just all adopt blind faith in what we're told and not what we actually see? Never question anything and never expect tangible progress, right?

Yes Whimax 🤡

"Company have specifically told me that such revelations are commercially sensitive and cannot be publicised"

How convenient.

I understand that Chab. I just don't believe that they are talking to anyone at all. I can't see how you can be in discussions for so long without any apparent progress and for that to be good news for shareholders.

Right now, this feels more like a public crowd fund rather than an investment. All the hardwork and risk in acquiring patents and approvals is being taken by the public shareholders. If they were talking to partners then they should have stepped in after ODD approval as that was they said was the key blocker.

Stuck record? A bit like endlessly telling shareholders you're in discussions but never revealing with who?

.. since ODD ratification and still they've delivered sweet FA!

Where are the partners?

If the company actually ever got around to delivering some value, the company broker might not have to work so hard to create markets for placings.

Where are the partners?

"Hats off to the company broker, they do an amazing job at creating a market for the placing shares."

Come on Soup, give some credit to the P&D merchants too. They work very hard!

Maybe they've forgotten

Galadriel, you're beginning to sound just like every other disgruntled pump n dump merchant that regularly accuses me of being a paid critic.

As I've said before, I'm not on anybodies payroll. I do have very strong feelings of doubt about this company's future brought on by 5 years of extraordinarily self-damaging activity by its succession of different boards and a rather large loss as a result. I don't personally like to think that other people might fall into the same trap. My long history on this board is proof of that. My earlier posts on this board would have been somewhat more optimistic before we started to lose payments, contracts and board members in 2020.

Unfortunately, some traders don't like to hear stuff like that when it doesn't align with their current direction.

If only we had a full time board.

"I don't understand why people would want to spread FUD on this company given what they are trying to do."

I don't think anybody wants to 'spread FUD'. It all depends on whether you actually believe them or not. As I've said before Galadriel, have a look at the RNS history if you want to understand why trust has been destroyed .

"So you've sold then?"

Don't be silly! How can you sell something that's worth nothing?

Any who cares about share price when we can distract ourselves with the RNS musings of the enigmatic Dr Phil?

Let's not kid ourselves. They're just winging it.

There is no way anyone in their right mind would pass up a deal negotiated for EMA ODD for another deal based on FDA when it's going take another 6 months from ratification, it takes the company to the brink of bankruptcy and the 'partners' take no risk at all.

I don't believe they are or have been in discussions at all. We only have their word for it and their word is worth nothing

Oh good. Another fundraise on the way then