Tommy - I never promised you a cheep buyout what I said was nothing would happen before February (which it didn’t), and if M&A was on the cards it would happen in February and not before.
If TFG had an underhand plan it would have played out the last few weeks, they don’t ergo my interest in remaining invested short term has evaporated.
I am now completely out, and will look to re-enter after April which I expect will give me a lower entry point to todays price.
I feel the risk is low being out for a few months and the benefits greater. Clearly you feel otherwise hence are staying in.
Tommy - Finally you are understanding the numbers required here it’s taken you a while.
The issue is not funding its partners. Funding has been around since before the AGM, motivation in the right circles has not materialised or aligned itself fully yet.
Focusing on the cash is completely the wrong concern to have right now, there have been and will be plenty offers of cash.
What they are lacking is serious support to push this through approval it's not cash they needs it's a major player that knows how to work the system.
The lack of which is currently the biggest warning sign IMO. The hope is there are talks going on behind the scenes but these would be the most protracted talks ever at this rate.
Mani - Happy now? Cash is good for at least 12months!
"The directors have prepared financial forecasts to estimate the likely cash requirements of the Group over the period to 30 September 2023, given its stage of development and lack of recurring revenues. In preparing these financial forecasts, the directors have made certain assumptions with regards to the timing and amount of future expenditure over which they have control. The directors have taken a prudent view in preparing these forecasts and will not commit to expenditure which the Group can't meet out of existing resources.
The Group's available resources at the date of this report are sufficient to cover the Group's committed activities of interacting with platform and other investigator-led studies, designing a broad-spectrum antiviral clinical trial, engaging with pharmaceutical companies regarding collaboration/licensing opportunities for that broad indication and, if required, engaging with providers of any other type of funding (details of these activities, current operating expense levels to 30 June 2022 and working capital at 30 June 2022 can be found in the Operating and Financial Reviews). Regardless of the outcome of these activities, which are uncertain, the Group's available resources are sufficient to cover existing committed costs and the costs of these activities until at least 30 September 2023.
After due consideration of these forecasts and current cash resources, the directors consider that the Group has adequate financial resources to continue in operational existence for the foreseeable future (being a period of at least twelve months from the date of this report) and, for this reason, the financial statements have been prepared on a going concern basis."
Mani - I think it’s your understanding of what you are reading in the stated accounts that is wrong.
They’ve published the 12month forecast and have stated they have cash to see out the next 4 quarters.
No where does it say in Q1 next year they run out of cash.
They’ve given the 12month outlook and told the market that operations can continue as planned including spending to progress route to approval.
Prof - I’m unwinding all week so sorry you won’t find me a taker for your shares.
But the BS about cash is too much. Yes they need funding for a trial but they could exist for several years in the current state quite easily. The Jansen deal is supporting some of their wage bill there are likely many more projects that would do the same.
Professional- This is the type of atmosphere you relish it’s easy pickings to play the wind up.
Expecting irregular cash updates it’s a bit far fetched they reported in line with market rules if they haven’t released a statement otherwise it means that the situation has not deviated from the official statement.
Mani - Yes the clear message is the business has funds to see through another 12months of trading.
It also has funds to be able to explore avenues for its clinical development programme (aka attend conferences, pay for advertisement or referrals etc.)
Mani - If SNG have made zero progress the last thing SNG wants and needs to do now is to release a statement saying no dosing this winter.
That would crucify the share and make their lives even more difficult.
They should instead be beavering away exploring all options and finding a route forward for shareholders. Which you can guarantee they are doing.
Mani - Prior to covid how did SNG survive, they clearly managed to raise funds etc to carry out their activities.
SNG won’t struggle to find cash but right now they are not looking for solely cash. They are looking for the lever that opens the door for approval.
That takes time and willing from both sides. The current climate it stodgy decisions are not being made quickly honestly North American markets might be a better location than AIM for SNG even.
Wouldn’t rule anything out.
I’ll departing this investment by the end of the month.
But if it went to Nasdaq I’d be front of the funding line.
Doc83 - But that’s not the efficient way of buying SNG. You wouldn’t offer the general market what you would offer TFG. Their relative holding has seen to that.
You give TFG what they want and you turn the thumbscrews to get the rest.
But importantly you give TFG what they want after the date that would oblige you to offer above odds for the rest.
Hi Doc - BP could not have made a move without triggering an association clause. To accumulate over 30% they would have to take TFG out and would be considered to be working in tandem with them hence are pegged to their timeline.
Things become more fluid in the weeks ahead so it is of interest to me how the end of February plays out.
I’m not recovering a loss here having sold my initial stake on the very first spike. The journey for me is coming to an end, there are some charitable causes that could put what I have invested here to good use.