PYX Resources: Achieving volume and diversification milestones. Watch the video here.
You have seen this cycle once, like many firsts delivered by this business. A recent addition being: �how to take the great idea, turn it into dog shampoo and laud this as innovation�.
Byotrol by numbers: 1 great idea x 1 massive ego � 1 consistently feckless board x 10 AGM minutes of unsubstantiated hubris + 16 million pounds of investment x dilution = 0.25 to 0.80 to 0.04 to nothing.
I agree, there is a lot of confusion: no IP, no USP, no EPA & no sales, yet there are lots of tales. It would make sense to ask just what is being invested in other than legacy and face saving, or charity?
How can 100k at 5.34 on the 13 December and 100k at 4.25 four weeks later be in any way a positive, when they are simply a reflection on the half year figures? Half year Turn over Loss 2013 £1.7M £393k 2014 £1.5M £263k 2015 £1.4M £445k 2016 £0.9M £576k
Wow, the one true innovation this business has is consistently taking bad and pronouncing it good. Using ‘the completion of a document (EPA)’ and ‘excellent progress (consumer @ £33k)’ as success when the reality is a steady decline in sales and a widening of losses. Anyone aware of Einstein’s theory of insanity? Half year Turn over Loss 2013 £1.7M £393k 2014 £1.5M £263k 2015 £1.4M £445k 2016 £0.9M £576k
Now that D10 (quat based product) is back in use across the M&S estate, is there any value in Byotrol in any form including ‘quat free’? Have all opportunities in food service, retail, consumer market now finally ended? The comment regarding ‘a couple of dispensers on a wall in a hospital’ is ridiculous to offer as news in the healthcare sector, what has happened to NHS and ISS? Was it wise to develop and then share PAS2424 to the wider market so that all competitor products (D10 etc) can prove their residual performance? On the numbers what merited an opening price of 25p per share, what caused the price to peak at 80p and what is left to invest in at any price?
Is there any news on another frequently talked about anti-bacterial ingredient polyhexamethylene biguanide (PHMB), Byotrol have used this for many years in hand care products, Are Byotrol confident that this biocide is suitable to use in this application? The FDA and other regulatory bodies are trying to reduce the use of boicides not increase.
That’s an enviable list of customers / prospects that have not delivered – the comment attached to Rentokil perhaps explains perfectly why Byotrol is where it is: seeing day and saying it is night. To use a metaphor, the emperor’s new clothes fit but are very run of the mill style wise. Keep on passing the tests, but we are out at 4p, bitterly disappointed with an in at 13p.
The recent post suggests that Byotrol QFS could be as effective as a commonly used commodity terminal disinfectant? There is no USP here, it just performs as per the standard and this proven in a factory case study of which 100% always favour the trialist. Over ten years in the marketplace and millions of investment is the best of Byotrol is that it can kill germs as well as the current competition?
If there is joint development, it would be helpful to understand just what is the best of Byotrol? As a disinfectant based upon a blend of commodity biocides and the 24 hour claim already widespread. Add to this that residue/residual effect from biocides is un-palatable across most sectors due to MRL regulations. Is there really a market beyond what Mirapol already is? Why try and add a biocide?
Solvay have an established range of effective residual, cleaning products, Mirapol for one. If they are marketing there is no mention of a Byotrol patent / USP on their website and the agreement reads commercial & technical which suggests ‘funding for technical services’? The 24 hour claim or residual claim is already widespread across current, relevant products and the vast markets previously mentioned are where Byotrol has failed to capture any share. As for EPA was it not concluded within the KC project? All sounds very speculative. The question of use within M&S is one for Byotrol to answer.
On the possibility of acquisition and consolidation, is there any value in a commodity disinfectant? Isn't the original IP now meaningless as a USP, the 24 hr claim now matched by many, household & industrial cleaners and disinfectants? All major deals both sector specific and with international reach which had commanded real investment, have failed: Food sector, KC, Rentokil and recently the NHS. The Solvay funding reads as though it is resource / laboratory services?
The question of innovation in any market is can it be commercialised. The components being: a sound patent, a thorough understanding of the market(s) and a sales & marketing plan to deliver. Considering just 2 recent comments, ‘new formulation’ and ‘one day, seaweed’ suggest Byotrol are still not covering the first base. Financial interest appears to be in 2 camps, firstly historical, legacy investors who are trying eek out as much as possible to limit losses and the second camp who are standing on the fourth base waiting.
The M&S news was circulating around the industry in January. The stating of the fact that highly regulated markets 'are' highly regulated and to be using this as an excuse as it is a prerequisite in these key markets, is counter intuitive. Maybe this is the disconnect between claims, not knowing the risks and whether or not there is any real innovation.
The activity raises the following questions on key markets: What is unique and patentable, if applicable, about a blend of phmb & triamine? In healthcare, hasn't the issue of infection from poor cleaning have been resolved, oxidising agents kills spores? Why are M&S stopping using byotrol?