Member Info for FriedmanSowell

Letitrun

That's of course true although, and this is not a specific accusations in this case, what we've seen before on AIM is that there is big buying in the days preceding a rumour, then the people doing the buying release a rumour and sell into it making a quick killing.

Again, I'm not alleging that's the case here, I'm just saying that's happened on AIM in the past and that one person in particular.had moved the price significantly in the past by recommending the share to his subscribers

Or as someone mentioned on another thread. There was serious accumulating on Friday and Monday, then on Tuesday a subscriber ‘service’ mentioned some positive rumours and the volume picked up again after.

Unfortunately, given the history of share price movements following similar rumours from the same source in the past, it raises the question whether the share price movement is down to something other than good news leaking.

Just a TW pump then?

That being said, it doesn't explain the large volume on Friday and Monday

I hope it's not Steen's mate trying some revenge on SOH. Already bad enough having him in one company

Could just be people trading patterns. This does move sharply when it goes.

Obviously hoping it is something more substantial this time

There seems to have been a huge amount of volume recently. Well over a million last Friday. Same today.

Quite unusual for this stock.

Thank you M.

Who is it that lays us the $100k per year then, I thought it was the yanks but I also thought it was Firminech

I thought DSM Firmenich were the US partner

They need to hurry up a listing on Nasdaq. Would garner US media attention and help to focus the FDA'S attention so the process is as expedient as possible.

Terrible outcome.

Steen clearly has no desire to put the interests of shareholders first, the board likewise. With this decision, he also knows that he stands as de-facto dictator of the company being beyond the reach of shareholders who own it.

It is an astonishing situation that, let's be honest, was brought about by Opti voting for the resolution that allowed the dilution and this agreement which saw Opti give up its (our) voting rights

This is similar to the last time Opti was down at these levels when its holding in SBTX and PBX alone was pretty much equal to the market cap which is why it becomes good value here and compelling value if it drifts to single figures.

I'm not too concerned about what's happening with the share price. Of course, I'd prefer it wasn't happening but so be it.

Opti has been down here before and it proved to be an excellent buying opportunity.

I expect single figures and will buy more at 8p

It's overvalued above 30p and grossly undervalued under 10p.

That's my thoughts anyway and none of that detracts from the reasons for the lack of impetus which is consistent value from the board to deliver things to the timescale laid out.

I suspect the costs may be less than people think. Clearly a legal path is being paid down to dismiss Steen for neglecting his duty to shareholders at the least and possible criminal manipulation of the share price at worst. Regardless of the costs, a duplicitous CEO intent on appropriating the company on the cheap cannot be left in place.

The Opti statement was factual and confirmed many of the suspicions that a lot of us held. Given this statement, and the facts outlined, I suspect that Steen is on very dodgy legal ground. In the US he could be looking at jail time.

All that being said, the decision by SOH and Seneca to vote for the motion that set all this in motion was negligent and made all the more so given the previous recent history that has been laid out here

Was able to cast my vote on ii today. Not that my few shares will make a difference but I voted for them.

Adyan,

I agree. The logic behind wanting to remove a CEO and yet voting for a resolution that enables him to issue as much equity he wants, is bizarre. Even if you liked the geezer and supported him, I still think it is a poor resolution to pass.

In addition, I'm also wondering if the board have opened themselves up to legal action and potentially Steen could be let go without being paid his notice. Either the statement that we were fully funded was true, or it was false. This RNS makes it pretty clear that the statement about being fully funded was false. Surely there are consequences for misleading investors in this way.

Acque,

I do agree with your earlier post about the problem of the cost of getting rid of Steen.

That being said, what is to stop him doing another fund raise in a month and handing half the company to his mate on a platter?

I do not trust him one little bit jot to do something like that.

If I wasn't going to vote for the resolutions before, I definitely would after reading that propaganda.

I think it is disingenuous to state that the company was fully funded before releasing the RNS regarding the dilution if in fact the justification for stating it is fully funded is based on an injection of funds that hasn't happened yet. In fact, I don't believe them and think it was fully funded regardless of the cheap sale of shares.

2. Saying it is xenophobic is juvenile. Are we in a VI form debating club here or running a business? Regardless, it is certainly not xenophobic to have a concern about the company moving to Denmark.

3. Any reference to 'market value' or 'market approval' is totally misleading given the illiquid nature of the market we are placed on.

All in all, there is little reason to trust the board given their previous actions and this statement. A quarter of the company was sold off very cheaply and it stinks to high heaven.

In fairness, was that common knowledge?

I hadn’t heard it.

That made me chuckle and I'll add a bit more if this gets to single figures again and gain back some of the losses on the next fake out.

These figures make his decision to raise capital at such a low valuation look even worse.

Why not wait till these figures were released?

Why not then maximise value by moving exchanges?

Why not then raise the same amount while giving away much less of the company?

The stench is even bigger and honestly, what has Steen done to contribute to these sales?