Member Info for GlenFidrich

Potnak, I was merely questioning your assertion that you felt "there are some here who still don't understand what involvement Sareum had in developing SRA737", as if it was of no consequence. On the contrary, Sareum was at the forefront of said development, which makes my view that we should not underestimate Sareum's contribution valid, nonetheless.

For "I am trying to keep some positivity here", read "I'm trying to recoup my losses here, so I'm trying to ramp the hell out of this, hoping some poor unsuspecting soul will buy into my narrative and allow me to exit at a higher price".
For it's "too easy to just whine and moan endlessly (what good will that do really)", read "stop posting the truth, as it will put off said unsuspecting souls being duped into buying this POS share".
For "I am not trying to fool anyone, just saying what's happening. Nothing misleading in my posts whatsoever", read "stop posting the truth, as it will put off said unsuspecting souls being duped into buying this POS share". A desperate attempt to fool everyone with your pseudo honesty, lol - "nothing misleading in my posts whatsoever"! Yeah, right!!
Finally, "if anyone is a muppet I suggest you look in the mirror Gonzo". Lol! Resorting to playground insults in an effort to win the argument? Grow up, Newuncle, and admit this is the worst investment anyone could make right now.

Potnak, I feel you're underselling Sareum's involvement here. This from 2016: "PNT737 [which ultimately became known as SRA737] was originally developed in a research collaboration between the Institute of Cancer Research, London (ICR), Sareum Limited and Cancer Research Technology Ltd (CRT). The Programme was licensed to the CRT Pioneer Fund in September 2013 and a co-investment partnership with Sareum was formed to progress the candidate drug through clinical trials." Importantly, "Dr Tim Mitchell, CEO of Sareum commented: 'This is a major achievement for our lead candidate as well as for Sareum. Starting with the initial discovery, we have contributed financially and scientifically to the ongoing development of the programme into clinical trials. The returns from this research investment will be realised in this licence agreement, validating our strategy and business model. ProNAi is in a strong position to further the development of PNT737 and plans to expand its development into the United States and with broader clinical studies. We look forward to reporting on their progress.'" So, given this, I feel your comment, "there are some here who still don't understand what involvement Sareum had in developing SRA737", greatly underestimates Sareum's initial contribution here. Just my opinion.

Yeah, top riser, lol! Up 15.38% today - amazing! Until one looks at the spread - 14.29% - and volume (less than 0.3% of shares in issue, but up 15.38%). Really, Newuncle? Are you for real? 7 posts today, and six of them are yours! Who are you trying to fool? UNTIL WE'RE TOLD THE PRICE AT WHICH THEY WILL RAISE AT, THE SP WILL CONTINUE TO DECLINE. Simples, and stop trying to mislead people as well. In order to get back to most people's buy-in, we need to rise at least c. 200%. So forgive me if I'm not overly excited about a 15% rise. You muppet.

Newuncle, you're forgetting this from June 30th: "The cash flow forecasts assume that further equity fundraising will be necessary over the coming months in order to implement Cornerstone's growth strategy and for the Group to continue to operate as a going concern". Crucial for me (and I think for the market) is the "over the coming months" statement. Hardly sounds like JW is getting his ample backside into gear "sharpish", does it? This is the crux of the problem. The black cloud that is the financing question is casting a shadow over the SP and will continue to do so until it's sorted. "Over the coming months" simply isn't good enough. Even "over the coming weeks" wouldn't have cut it. It should have been "over the coming days", thus signaling the urgency with which the BoD realized they needed to act. Trying to raise money in today's environment is going to be tough, but the SP is going to be hammered until news of financing is announced. This vague and wishy washy "over the coming months" is music to the shorters' ears. Anyone can see that. Even Stevie Wonder, ffs.

Biker888, don't beat yourself up. It's all a learning curve. I must admit, I took a hit with MSMN as well back in the early days of my investing journey, when I was much greener than now. The annoying thing here is that I really thought I had done my due diligence with CSFS. I hadn't jumped in but had been watching from the sidelines for some time. The trading update in April had been so promising and upbeat that I thought this was a screaming buy at the c.20p levels. After all, we had been fed statements such as: "The Board remains confident in the Group's prospects and looks forward to updating the market on further progress in its audited results for the year ended 31 December 2021, which it intends to announce in June 2022." This was on April 20th this year. By June 30th, we get this: "These circumstances indicate the existence of a material uncertainty, related to going concern. The financial statements do not include any adjustments that would result if the Company or Group was unable to continue as a going concern." So in April, JW was "confident" in the Group's prospects, but by June there's suddenly question marks over the ability of CSFS to "continue as a going concern"? This whole sorry saga stinks to high heaven and shareholders need to join forces to oust that liar JW. The Group has zero credibility in my eyes, which is a critical flaw when operating in the world of financial services. Where's the trust? No wonder two board members jumped ship on the day of final results. They were probably both so disgusted by the deceit of JW that they knew they would never be able to look him in the eye again and decided to distance themselves from the whole fiasco. So, Biker, I agree. An investigation is needed here, and for JW to be exposed for what he is - a fraud.

If I might proffer my investment case for CSFS? Don't touch it with a bargepole! Sorry to be flippant, but JW has misled us all and for that alone I would steer clear. But an even more glaring issue is the specter of a fundraise "in the coming months". This is just plain unacceptable because the wound that is the financing problem is being allowed to fester for God knows how long. This happened quite recently over at RMM and PUR, and both times resulted in a drip, drip erosion of the SP. This is clearly the plan - destroy shareholder value now so as to allow JW and his buddies to buy in cheaper when the price of the fundraise is finally revealed (and you can bet your bottom dollar JW will buy in big when that opportunity arises). I'm expecting a raise at around 5p, but wouldn't be shocked to see even lower than that. Current shareholders are going to be diluted to oblivion. The only possible way to salvage anything is to buy in when the SP reaches the issue price and try to average down. But who has the money to do that these days? No, we've been royally shafted and I don't trust JW as far as I could throw his fat behind. Rant over. Apologies in advance if I've overstepped the mark, but just calling it as I see it.

Connections to GSK? TM for sure, but also Dr Owen: "He is the co-founder and first CSO of Kymab Ltd, a biopharmaceutical company based in Cambridge, UK, prior to which he worked for GSK where he was SVP and Head of Research for Biopharmaceuticals R&D". Extremely close ties, I would have thought, or at least former colleagues at GSK who might well be taking a keen interest in what Sareum are developing.

...is uncertainty, and Thursday's RNS delivered that in spades: "The cash flow forecasts assume that further equity fundraising will be necessary over the coming months in order to implement Cornerstone's growth strategy and for the Group to continue to operate as a going concern." Not good, especially since no timelines were mentioned or any idea given as to the extent of future dilution.
Furthermore: "Although the Group has had past success in fundraising and continues to attract interest from investors, making the Board confident of fundraising success, there can be no guarantee that such fundraising will be available", especially, in my opinion, within an environment of high inflation, increasing interest rates, and markets around the world nose-diving!!
And then we get this: "These circumstances indicate the existence of a material uncertainty, related to going concern. The financial statements do not include any adjustments that would result if the Company or Group was unable to continue as a going concern." A material uncertainty (ffs), and one wonders why the SP tanked!
The CEO has well and truly shafted the shareholders and created a huge element of doubt as to Cornerstone's ability to continue operating. A fundraise is now certain, but at what price, and when? The longer this drags on, the more we will see the SP being eroded. Finally, that interview that JW gave on Proactive was a complete whitewash. Again, no mention of how on earth the company could get into such a dire financial situation that even they have to question their own ability to continue as a going concern. What worries me is that, for a financial services company, they seem unable to manage their own finances, let alone manage the financial transactions of other businesses and HNWIs. It would be laughable if it wasn't actually real. Do people really think high net worth individuals are going to trust these clowns with their money after this? Would you? In short, that fat cat JW has to go. Simples. Then we can maybe start to rebuild confidence in the brand.

"The strong trading momentum of 2021 has been sustained into the current year and through the first half. In the first quarter of 2022, the Group achieved its highest ever quarterly revenue - reflecting underlying growth across the business as well as the first contribution from Capital Currencies. The investments made last year into enhancing Cornerstone's product offering and strengthening the team are continuing to drive an increase in trading volumes and expansion of the Group's customer base. As a result, the Board continues to expect to achieve significant revenue growth for full year 2022, in line with market expectations.
The Group continues to pursue acquisition opportunities and is actively progressing its organic growth strategy - including plans to launch a new e-wallet solution this year and secure further integrations with accounting platforms. With a strong team and highly scalable platform, the Group continues to believe it is well-placed to take advantage of the meaningful opportunities to build a significant business offering technology-enabled international payment services.
Accordingly, the Board remains confident in Cornerstone's prospects and looks forward to reporting on its progress."
So, the RNS was very disappointing in terms of the obvious uncertainty it has created. But it's clear the Board see a future here. I believe the market has overreacted, as usual, and we should see a gradual recovery in the SP. It would be welcomed if the Board agreed to receive shares in lieu of their salaries. That would be a good start to restoring confidence here.

Fax, don't you mean lovely bubbly? Shampoo all round, and only the feckin' good stuff 'n' all!

Joe, first of all, the spread is not helping the buying action. Also, there are not that many shares available. Any sizable purchase immediately goes NT, which again puts off buyers, since you're very much at the mercy of the MMs. But what you haven't explained is what you meant by "million miles away from profitability especially if they raise on our expense!" I agree, dilution is often bad news, but if it's done to fund acquisitions it can be hugely bullish, no?

Newuncle, I'm not sure what Joe is referring to, but with news out hopefully tomorrow I think I would urge patience. Now is not the time to throw in the towel. Any capital raise in the past has been (a) to acquire Capital Currencies Ltd (which is already contributing to profits), and (b) in lieu of payment for "investor relations services" (123,000 shares, hardly hugely diluting, and at a price of 26.5p). Both raises were good business in my opinion, so quite what Joe is concerned about is beyond me. I think all will be revealed tomorrow, but whatever news we get in the short-term, the long-term prospects here are, I think, solid. GLA.

...will mark a year to the day when Sareum announced the following:
"The results of the [UKRI grant funded Covid-19 research] project found that SDC-1801 reduced the levels of cytokines associated with Acute Respiratory Distress Syndrome (ARDS) in human lung cells infected with SARS-CoV-2 and demonstrated a profile that was superior to the anti-inflammatory steroid dexamethasone and similar to baricitinib, a JAK1/JAK2 inhibitor." Surely there has been progress on this since then, or am I completely barking?

https://www.lse.co.uk/rns/SAR/update-on-sra737-licensing-agreement-s7o3d08xizlsf83.html
As far as I'm aware, the link above is the latest (amended) licensing agreement.

Just bought 80k in two tranches (50k and 30K), although the first trade not showing yet. A bit weird. Anyway, next week's news I'm anticipating should be positive. Everything crossed! GLA.

https://www.msn.com/en-gb/money/other/stocks-and-funds-wont-help-you-beat-inflation-this-year-–-but-this-investment-trust-just-might/ar-AAYLAap?ocid=mailsignout&li=BBoPWjQ

Cheers, Chris. As you say, a good read and some compelling reasons as to why one should be invested in the biotech sector right now, especially if you can take a long term view. MrIndia, please take note!

sheltie, I'm a little more bullish than you, but I agree with much of what you say. A couple of points though. First, the Bank of England has, indeed, been slow to act in order to curb the rise of inflation. But early 2021, when you maintain they should have acted more decisively, the world was still in the throes of a global pandemic, with future visibility uncertain at best. Personally, I think their hands were tied and any interest rate rise at that time would have cratered the markets. Secondly, you assert that geopolitics will hinder economic growth, which I totally get. But Russia's (and probably China's) modus operandi to date has been to undermine critical infrastructure through cyber attacks. Assuming this continues, and sad to say in a way, I see companies like Darktrace benefitting enormously from the prospect of warfare in the digital arena. Just my thoughts, but I'm not seeing too much more downside risk here. Blind optimism? Probably!!

I'm seeing $14,000 BTC (which probably translates into at least another 33% drop in ARB's SP) as the bottom here, followed by a lengthy period of consolidation, before the parabolic rise above $100,000. I guess the question is, can ARB survive another "crypto winter"? Discuss.