Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Time will tell Girdz - the mCap is very low and IHO the compnay has turned a corner.
I've always been a fan of the industry
Looks like someone loading up at 0.6p.
Me too....
I put a lot in at sub 1.5p which made up for the money i put in between 5 and 10p
'all these randoms'
All two of them! LOL
I bought BIDS when it was much lower in a Fantasy Shares Competition and have been tracking them closely. So I have bought in today as I'm bullish about the company, the sectore and looking forward to an update that i expect to land in the next week or so which should provide details on their 2024 plans
I ordered a new phone yesterday from MusicMagpie - It will arrive between 8:30am and 12.30pm
Bought myself an Iphone 13 Pro Max in 'very good' condition.
The day has started with some MM games i see - two buys come in and the MMs then drop the ASK to 9.5p to make them look like sells.
I completely ignore the price changes right now. You saw that on Monday the SP was dropped to sub 9p allowing PIs to buy at c8.7p. Suddeny the next day you have to pay c.9.5p.
Most of the shares are in the hands of holders who have held since the SP was c£2. All these 1p changes are immaterial and irrelevant for most of them. However, the drops tend to creat a bit of panic in the private investors and some will sell as a result - paving the way for those with deeper pockets to pick up shares on the 'very' cheap.
I have a feeling that February will be themonth that we see things start to happen - there has been a lot of volume changed hands - about 15% of the company has changed hands.
My buy is showing up RED at 0.53
All the 0.53s are buys i think
Looks like the 0.6 was printed to make it look like the 0.53 are sells
There is a lot to like about this company
Whilst not without risk, the compnay has 3 very exciting clincial candidates with huge commercial potential.
Plan A is to take the lead candidate into trials - if results are good, i expect Hemo to license it to a big Pharma to take into Stage 2/3 trials.
Hemo would then use the funds from the above deal to devlop CBR which is uniques and could change the way in which the world tackles the most dangerouse viruses known to humans. (Aids, Zik, Ebola, Covid, Influenxa etc)
Hemo are down to their last £1m in the bank and Clincial Trials do not come cheap.
The biggest and best news that landed in the last year was a 1% Startegic Stake that Prevail Partners took in the business. They paid 6p a share which represented a 240% premium at the time. I cannot emphasis enough the extent, breadth and depth of due dilligence they undertook before making the investment. We now believe they have been working across the world of Biotech investors as the Lead to provide the next bog tranche of funding that we hope will swiftly follow the news of the clincial hold being lifted.
Please DYOR
GLA
“Meanwhile, the Company is conducting in vivo tests to demonstrate that CBR could be used against infectious replicating SARS-CoV-2 virus, including its recent dangerous variants. These tests are being conducted by athird party using a biosafety level 3 ("BSL3") facility that belongs to a government-owned institution”
“It is important to note that this work has not detracted us from our primary focus” (Getting CAR-T into the clinic)
The CEO & Co-Founder of this company commented: "We are pleased now to be announcing further exciting developments in our CBR platform. CBR is a ground-breaking new approach to treat existing and emerging viral infections as well as potentially becoming an effective new form of cancer treatment. On the viral front, its potential ability to treat a very wide range of viruses give it the potential to revolutionise the treatment of viral diseases and even to become the means of counteracting biological warfare."
Continued from last page
It’s now 1st February , 2024;
Share price is currently @ 3.35 pence – valuing the company at £39mThe company released news on 23rd March confirming it had completed the final step required to submit an IND into the FDA for it’s lead clinical candidate CAR-T; with the formality of a final refinement of the paperwork the only thing left to complete.
Hemogenyx are now on the brink of achieving a momentous Biotech milestone; taking their lead clincial candidate, Hemo CAR-T, into Clinical Trials
They entered the final straight in the July 2022 when moving into new premises - a bigger, better 'state of the art' Lab providing the facilities to manufacture CAR-T themselves (and save £millions in doing so vs using third party)
Seven RNSs later, 5 of which charted the manufacturing progress and 2 communicated the critical new appoinments of "director of quality' and 'medical director' the company filed its IND with the FDA in May 2023
Sadly, it was announced in June that the FDA had put the IND on hold due to a single issue that turned out to be 'splicing caused in the manufacturing of the lentivirus.
Vlad and the team have been using AI successfully in their pre-clinical studies. This allowed Hemogenyx to identify the issue before it was formally communciated by the FDA
Since then, (1) the FDA Approved the plan presented by Hemogenyx to address the splicing issue, (2) The lentivirus has been remanufactured with a change in the process that successfully resolved the splicing issue and (3) A full and final'end to end' manufacturing run was completed successfuly having been tested by Hemo and a third party
Hemogenyx submitted a "Complete Response" to the FDA on 15th January 2024; the FDA will communicate their decision within 30 days
Therefore we all remain on tenderhooks for the pivotal RNS that we hope to confirm the FDA has lifted the clincial hold - it genuinely could land any time now between 7am and 6:30pm on trading days - and no later than 13th February (so a maxium of 8 sessions)
It's taken 12 month longer than we all hoped to get to this stage - but in that time Hemo have made significant progress.
The company also released news this year on another of it’s clinical candidates; Here’s the headline update given by the company:
“made significant progress towards the practical use of its Chimeric Bait Receptor ("CBR") platform technology, designed to program immune cells to eliminate viral infections by destroying the viruses that cause them. The Company's scientists have identified a target protein that can be incorporated into a single multipurpose CBR-based therapeutic capable of treating multiple viruses that belong to different viral families, instead of having to make a separate CBR construct for every virus. Among them are Dengue, Ebola, Marburg, Zika and Chikungunya. These viruses are among the most dangerous to humans, causing serious and often fatal diseases, and for which few effect
I discovered a special company back in 2020 – It’s a small (Pre clinical) Biotech with Big ambitions called Hemogenyx Pharmaceuticals
It continues to amaze with it’s science – I don’t recall one occasion in three years where the science has disappointed
During this time, It has been working on three different clinical candidates:
Two of which aim to provide a much needed treatment for patients who suffer from Acute Myeloid Leukaemia (AML). Every day in the USA alone, 70 people are diagnosed with AML and 50 of those unfortunately die of the disease
The third, whilst exploring a solution to COVID-19. this company has devised a way to not only eradicate COVID, but it also has proof of concept to cure every virus it has been tested against so far: Dengue, Ebola, Marburg, Zika and Chikungunya
Just to recap – the company has not encountered any material backward steps in 3 years from a science perspective – all three clinical candidates are moving forwards positively
The market value of this company increased from £10m to ‘over £60m’ in 2020; Long term investors, Traders and probably small specialist funds all took interest.as it announced it would aim to play a role in combatting Covid.
The current market value has been impacted by a regrettable funding event in November 2020. A £60m Convertible Loan agreement was entered into with Mint Finance; The company were led to believe that this was backed by long term investors with a genuine interest in the company. This proved NOT the case; Mint choosing to convert immediately on multiple occasions in the following 6 months - flooding the market with new shares.
The company TERMINATED the entire agreement in May 2021 – just 6 months later. However, it did provide enough funding to prioritise it’s lead clinical candidate; enough to take it through Phase 1 trials – and avoid the necessity to raise funds for up to 2 years. Therefore, it is now consigned to history and no longer a concern for investors.
Throughout 2021/22 the market value of this company was in the region of £10m again – valued at little over cash; Significantly misaligned to the market value that long term investors attributed to this company.
The share price sprung back to life at the end of 2022 and into January 2023. The market value increased from £10m to ‘over £35m’ in January 2023; buoyed by . The material re-rate in share price presented an opportunity for this company to raise £4m in a difficult market – the raise was conducted swiftly and efficiently at a share price +60% higher when it raised fund to terminate the Mint agreement.
Cont. on next page
An RNS can drop anytime between 7am and 6:30pm
Nothing at 7, I guess Haywain and I retain some hope of an intraday RNS - Don't let us down Vladdic
If not, we bow out of the competition and let someone elsme take the glory
A maximu of 8 trading session left now until we are hopefully crowned as clincial. I would be surprised if it goes to the wire - so hopefully it will be in the next trading sessions .
The next fund raise should be significant - £15-£20m to see us deep into 2025 and able to fund phase 1/1b and start phase 2.
Given the share price in the last 3 years - I would snap someone's hand off if they invested £15m at 6p a share. The sort of investors who would provide that WILL hold - so if the SP is 7-10p it will not drag the price down. If the SP is 8p and you wake up to ews that Hemo have secured £15m funding and have a cahs runway into 2026 we will all be very happy. £15m is lot of money and would be a great validation of the science and potential going into trials.
We all need to think differently - £15m at 6p would be 250m new shares which would dilute existing shareholders by c20%.
But - the value of the a company with £15m in the bank and avle to fund trials is worth a lot more than 20% more than a compnay with £1m in the bank and needing to raise imminently
Agreed Tylo
Good effort and I like your approach
Only issue - you have based it on the wrong cancer.
HEMO are trying to improve outcomes for AML
Please ignore my treatment of VAT - I'm not clear of the VAT treatment but added it in to be prudent
I know there are some very specific rules on VAT governing this space.
I disagree Tylo - they will absolutely have planned the rental proposition to make money.
Lets take the iPhone 13 Pro Max 256 GB
MMAG but it of customer for (£350) (in excellent condition)
Lets assume it costs then up to (£50) on logistics and a light refurbish
So they have paid (£400) for device
Option 1 - They sell it for £650 (incl VAT) 'in excellent, pristine condition' and make up to c£120 Gross Profit after VAT and shipping costs).
Option 2 - They rent it for 12mth @ £36.99 per month. That's £370 revenue which @70% Gross Margin is £260. One year later they will then sell the device for up to £400 which is £330 after VAT. So that's a combined net revenue of £590 less the cost of the original Handset (£400) leaving a Gross Profit of c£190. The financing cost incurred by MAG is est. between £10 and £20 per device) This reduces the profit to c£170.
You see that it is the loan and the onward sale that contribute to the profit.
So renting , should be a lttle more profitable than selling the phone outright, But renting = debt fro MMAG right now and then are managing their business to avoid increasing debt at this time.
We are already starting to see Hemogenyx gets coverage in news places
If/when the clinical hold is lifte and they can starting anncouncing trials we will see Hemogenyx get lots of PR and coverage in both the investment media but more importantly the pharam and Biotech
They will also have an opportuntity to feature more prominently in Biotech conferences
All the above will absolutely drive engagement and new investment
Not that our resident troll(Robswire) EVER answers any questions aimed at him
However, I will answer as its a reasonable question
(1) I would expect the cost of the handset to come through in depreciation (NOT EBITDA)
(2) I would expect the cost of financing the rental agreement to come through as 'financing cost' (NOT EBITDA)
There are a few costs that I would expect to hit EBITDA that are asscoiated with the Rental Income.
1. Cost of a case + screen protector
2. Repairs on warranty (although they may be able to recoup some through manufacturers)
3. Bad Debt (Which is in line with industry average)
Depending on their accounting policiy the phasing of the costs and revenue may differ
However - on average I would expect the Rental Revenue to be at c70% EBITDA Margin
Tylo
I think you have not quite understood the Rental Piece. here are my thoughts:
- It's proved highly compelling as a proposition for customers and has sold well
- In theory, it's a higher margin proposition vs selling a phone outright (Howvere, this will only ver be really tested over time when baking in things like; bad debt, non return of device, cost of finance, re-sign rate
- I expect the number of customer at any given time on a renatl props to remain broadly stable until such time the company has a better funding solution; the company are not growing the rental base because in doing so will increase net debt and put themselves under pressure with the banks. (They are selling an alternative prop to consumer using Klarna or Paypal - who in turn allow customers to spread the payments)
- ALL rental devices come back after 12 months - the compnay will already have factored in a level of depreciation to the asset as it will be 1 year older and have greater wear and tear
- The 70% retention rate will refer to how many customers choose to extend for another 12 months with a new rental device. Note - this % is very similar to the long term trend on retention rates for standard 24mth contracts sold by carriers
Most of the debt is actually a good thing. E.g using indicative numbers. If the compnay had £10 Debt - that would be covered by the contracted recuring revenue stream (e.g. 40k customers paying £20 a month with avg 6mth contract remaining = £4.8m) AND it is funding the working capital which is the handset on loan to the customer (Assume 90% customers return their device at resaleable value of £150 = £5.4m)
ALL the big carriers all take on debt exactly the same way; they sell a handset receivable to the bank to accelarte their cashflow
I predicted the 1st Feb - so happy to see no RNS today :-)
Still a chance to top-up before, what we hope will be, a great RNS