Member Info for howdlep

Tyke68,

As we know, there can be no IQAI placing below 1p, given the 1p nominal value and need for a GM and capital reorg. Besides, even if there was one below 1p, no way would BRH be buying IQAI shares at 1.1p.

Like I said earlier, TB will continue to benefit from direct and indirect transactions whilst we await the FDA phase I review. It would be far easier, if everything was transparent. That way, private investors may well be interested in building their own personal holdings.

Phil

Director/PDMR Shareholding - acquisition of shares

Braveheart has been notified that today, 7 November 2024, Trevor Brown, Chief Executive of the Company, purchased 2,595,701 ordinary shares of 2 pence each in the in the Company ("Ordinary Shares") at a price of 3.5 pence per Ordinary Share from Free Association Books Limited.

Accordingly, Trevor Brown 's total beneficial shareholding in the Company has increased to 15,820,215 Ordinary Shares, which represents approximately 24.83% of the Company's current voting rights and Free Association Books Limited no longer holds any interest in the share capital of the Company.

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So TB increases his BRH stake to 24.83%, which increases the value of his indirect stake in IQAI as a result of BRH's purchase of 29.51% purchase of IQAI shares from TB and FAB. In doing so, TB has used £90,849.53 of the proceeds from the £503,371.91 sale of his IQAI shares.

Will FAB now repurchase shares in IQAI, as there is no concert party between TB and FAB for IQAI shares?

Clever if the only concert party is between TB and BRH for IQAI shares.

Semantic,

The concert party selling of FAB stock, together with the discounted placing and awarding of 8% of the company in stock options, has destroyed confidence in IQAI.

Why do you believe that private investors would purchase large amounts of stock, when the Board of Directors do not see an opportunity at current levels?

I am still fully invested in IQAI, primarily because of the outstanding work done by the Imaging team. I also appreciate the support given by TB in the form of loan notes. Sometimes investors overlook the significance of having a CEO with a (previously direct) holding of circa 30%. That said, market transparency should be paramount when there are concert party transactions on the open market, particularly when placings follow.

I have no problem with Michael's share options, which were due to expire next month, being cancelled and repriced. This is a reflection of his outstanding work and him not drawing an IQAI salary.

As for institutions. you are right to say that the market cap of our company is far too small for them to even consider an investment. Also, the liquidity is not sufficient for a major holder to sell/reduce a big holding. That said, I wonder whether a phase II partner/s would consider an investment in IQAI, rather than just providing capital for the trial?

If so, this would enhance the shareholder base and also enable the TB/Braveheart concert party to add to their holding, whilst maintaining their percentage. Please note, I appreciate TB could issue further loan notes in IQAI, or take part in future placings, if and when they are required. Hopefully, the ramp up in software revenues over the next year, following on from this weeks RNS, will allow IQAI to reach break even in 2025. That said, costs will increase in order to facilitate phase II and develop company assets.

Going forward, the new variable is how Braveheart will maintain, reduce or add to their (TB concert party) holding. Some on here, look on the sale price as being the price the market places on stock. That is nonsense, as TB and FAB would never have sold their stock to another third party for a pittance.

Be in no doubt, TB and FAB will benefit from future dealings, both directly and indirectly. The only question, is whether private investors are positioned correctly for a re rating. I am, as one will come in due course.

Phil

Shrek1st, Excellent find, thank you.

This is Zak Mir's reaction to this morning's RNS. I think it applies to awareness in both the UK and the US. That has to change immediately, as does the broker:-

"Comment: Although one suspects few in the market know or are aware of what IQAI does, or has achieved, it is clear this is a turnaround situation, one which is perhaps overdue a share price rebound."

An excellent RNS at last. So we have a patent filed for "Gallium Maltolate (GaM) as a Cancer Treatment Agent and Method". That is good news. Total revenue for the current year will be between U$900,000 and U$1millio, up from U$760,000 year on year. That is very good news.

But the big news is that discussions are underway "with potential partners to provide funding for a phase 2 trial". Note, partners and not a partner. Previously, we were expecting funding to come from grants, foundations and possibly Trevor. So is this a clear indication of what may come in the future, hopefully from the likes of Bayer or GEHC? Will that funding come solely for the trial, or will it be a third party investment in IQAI? If it is the later, then Trevor and/or Braveheart would be free to increase their stake, whilst maintaining their current percentage. Trevor may also issue further loan notes, given the significance of the partner backing.

Now let's see what volume is like today as the lows may now be in. Onwards and upwards from here. Hopefully!

Gee,

Thank for for sharing the information. Your contributions have always been both interesting and informative. I wish you every success going forward. Phil

Geeforce2010, Yes an interesting BRH interim report. I would expect them to do a placing in due course. However, they still would not be able to further finance IQAI, as their BRH/TB 'concert party' holding is already 29.51%. Indeed, TB couldn't even exercise all his options without taking it over 30%. However, IQAI could at some point in the future (when their share price is much higher please) do a placing, which would allow the 'concert party' to maintain their percentage. More likely, as you say, for TB's children or FAB to take part. Obviously, there cannot be any placing below 1p, given that is the nominal value of shares. What is of interest to me, is that Michael made reference to phase II funding coming from grants, foundations and sales revenue. No reference to TB providing funding. I wonder whether IQAI Board changes are likely in the near future, given that TB only has an indirect holding via BRH (excluding outstanding IQAI options)? In relation to the RPDD and the PRV program, I am hopeful that the 'real world' data obtained from the EAP will make phase III less likely, in both size and duration. What are your thoughts et al re this possibility, as this would hasten the PRV?

So much news should be forthcoming in the coming weeks/months. What we need now, is a big step up in sales revenue. That would make the possibilities, endless.

An excellent Q&A Letter to Shareholders, provided by Michael. As always, the information provided creates additional questions. However, the format is far easier for existing and prospective shareholders to read. Our investment in both time and money, is very well served by the team in the US. The next couple of months should be rich with news, ahead of what should be an excellent forward looking statement in the Finals next year.

RNS TR1's for TB and FAB now confirmed.

Well I am expecting a TR1 RNS from both TB and FAB confirming they no longer have a notifiable interest (zero shares) in IQAI.

All IQAI CLN's have been cleared. However, TB does have options to convert, as do other Board members.

There can be no placing in IQAI below 1p as 1p is the nominal value of shares. A General Meeting and approval of a capital reorganisation would need to take place first.

TB and Braveheart are now a 'concert party' with a combined holding of 29.51%, so TB cannot be part of any future placing in IQAI as things stand.

TB and FAB are no longer a 'concert party' as FAB have sold their IQAI holding. I believe there needs to be 20% combined holding for any 'concert party' to exist.

As with nearly every IQAI RNS, there seems to be more questions raised than answers provided. That needs to be changed going forward, with better communication from the Board and brokers.

However, wouldn't it be interesting if a third party bid came in now for IQAI, with TB and FAB only having a 25.15% indirect interest in Braveheart, TB IQAI options excluded?

I suspect a lot of news may be released in the coming weeks. It is time to be accumulating if you think that news is to the benefit of shareholders.

N.B. TB/FAB already held 25.15% of #BRH

TB and FAB shares both bought by Braveheart.

And proof that the Bayer Calantic partnership is working. So who are Insel Gruppe AG, this from the foot of today's RNS:-

About Insel Gruppe AG

Insel Gruppe AG, one of the longest-running university hospitals in Europe, was founded in 1354 and has since become a leading medical institution in Europe, playing a pivotal role in medical education and training. Housing 8 MRI scanners and conducting over 23,000 MRI scans annually, the University Institute of Diagnostic and Interventional Neuroradiology at Insel Gruppe AG stands as the largest neuroradiology department in Switzerland. The department is equipped with state-of-the-art technology, including high-field MRI, and is nationally and internationally recognized for its clinical excellence and contributions to the field.

In collaboration with the departments of Neurosurgery, Clinical Oncology, Radiation Therapy, Pathology, and Neurology, the Brain Tumor Center in Bern is renowned across Switzerland. It offers advanced diagnostic services and personalized patient management.

Indeed it was in the 20's --BB--, but now with share price below 2p there lies the anomaly and the opportunity.

Will big pharma want to co sponsor a phase 2 trial or invest/sponsor the trial?

What are the events in your opinion that could see a gap up in the share price, after an RNS?

These will be the reasons pi's cannot be sitting on the sidelines.

-- BB --

The market cap of the company is obviously way too small for institutions and funds. However, it's not for a predator. On the contrary. So let's see what happens in the coming weeks or months. Either way, it's a dangerous game for pi's to be sitting on the sidelines at current levels. Time will tell.

FAB selling down to allow TB to convert loan notes and maintain their 'concert party' family holding below 30%. Then we have had further FAB selling to ensure they maximise their participation in the discounted 1.5p placing.

The Board of IQAI then, of course, rubber stamped the non incentivised option package at 1.9p. I will not comment about the options at this stage.

I would now expect there to be good news, maybe before and certainly after the forthcoming results. Given that the proceeds of the placing will be included as a post reporting period event, I think we can say for certainty that the forward looking statement will be very positive indeed. After all, the Board and FAB are now well positioned for it.

So what is needed now?

Well clearly one or more news events that ensure daily volume in the 5-10m range. That would ensure a more rapid conclusion to the placing churn. I really don't care if we take two steps forward, then one step back. This would allow new money to come in again. Something that is vital for capital appreciation in the future.

I am as annoyed as anyone on here, but it is time to look forward now.

Https://mcusercontent.com/ee2fb759d033ff87132180f83/files/0bbaafc5-5dc3-6f6d-bb62-62b43568cf4d/IB_newsletter_March_2024_Final.pdf

As FAB too £186k of the £300k placing, it means they will not be selling any time soon. So the volume of shares to be flipped is way less than it may have been. Indeed, Peterhouse may have forward sold for its clients.

This means any good news and we need big news, should result in good price appreciation. We will see.

As I said on the 28/2, FAB/TB had room to take circa 13.5m shares and remain under 30%.

So FAB add 12.4m shares @ 1.5p for a total cost of £186k. Placing was for £300k excluding the subscription.

Trevor didn't take part in the placing, as his share holding is unchanged.

What has happened is truly appalling but it's done now. The BOD now need to deliver big time and I mean big time!!