Member Info for inanaco

TF this is of most interest ........ comment on it ....... Toshs post to me ...

Hotw1ngs
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inanacoToday 11:27CRUK are a charity, there are no tax implications.
The £20 mill will be spent by them, either directly or indirectly, it will not be given to Scancell, and will not appear on the balance sheet, simple as that.
Furthermore, not only is CRUK a charity, any work done on the trials will also be deemed as being R & D for an unmet need.
Scancell aren't spending the money CRUK are.

ONW you posted early that i was very wrong !!

Oldnotwise
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RE: ONWToday 11:28Hotwings
sadly this is the same old same old...
He gets it wrong and then continues ad nauseam attempting to justify a naive and ill informed comment, until people simply switch off.
Incidentally, have you noticed the oft used trick of his suggesting that I ask and accountant! Since he's the one that doesn't understand the arrogance is quite unbelievable, but sadly true. That's the second time in the last couple of weeks he's tried that approach when he's been shown to be wrong!
No more from me on this one....
Let's hope it dies a natural.
ATB

you now seem to be back peddling with oh this is very boring ...

tell me what is it like to be an idiot ? yet again

Hotw1ngs
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inanacoToday 11:27CRUK are a charity, there are no tax implications.
The £20 mill will be spent by them, either directly or indirectly, it will not be given to Scancell, and will not appear on the balance sheet, simple as that.
Furthermore, not only is CRUK a charity, any work done on the trials will also be deemed as being R & D for an unmet need.
Scancell aren't spending the money CRUK are.

pass comment on its validity

and your post agrees with mine ..... TF

as i had already posted

""£20m of committed research funding which indirectly sits on scancells balance sheet""" ie a commitment so it appears as and when its distributed

Used to develop Modi3 .... ... how the money is distributed is irrelevant as the core asset is Scancells Patent moditope
the logic behind the posts is not relevant as all costs associated is covered under the grant ie from wages to electricity bills. Its obvious that it cannot be used for other projects but to say that its not sitting on scancells balance sheet is not quite correct, because you are not valuing the up lift in IP that this grant generates in your calculations, which would sit on the balance sheet once its commercialised or value attributed via a licence etc. So in effect its £20m of committed research funding which indirectly sits on scancells balance sheet. Just like Modi1 has to day cost built into that has to be met by scancell ie the license of amplivant so that is committed research with an outcome. the Only difference with Modi3 is that research is funded.

Hotw1ngs
Posts: 236
Opinion: No Opinion
Price: 12.05
inanacoToday 11:27CRUK are a charity, there are no tax implications.
The £20 mill will be spent by them, either directly or indirectly, it will not be given to Scancell, and will not appear on the balance sheet, simple as that.
Furthermore, not only is CRUK a charity, any work done on the trials will also be deemed as being R & D for an unmet need.
Scancell aren't spending the money CRUK are.

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in other words Scancell in RNS stating its non dilutive is funding is wrong

and C7 thinks he is right

you can argue with scancell pal ...

your post was specific """"" Scancell aren't spending the money CRUK are."""

so why are you even discussing the money coming into scancell ?

scancell sees it as non dilutive funding ......... so it has to be a balance sheet item

So C7 you agree with this post ???

Hotw1ngs
Posts: 236
Opinion: No Opinion
Price: 12.05
inanacoToday 11:27CRUK are a charity, there are no tax implications.
The £20 mill will be spent by them, either directly or indirectly, it will not be given to Scancell, and will not appear on the balance sheet, simple as that.
Furthermore, not only is CRUK a charity, any work done on the trials will also be deemed as being R & D for an unmet need.
Scancell aren't spending the money CRUK are.

well can you explain to him how any transaction affects the balance sheet and the P & L account ... you cannot hide income and expenditure of £20m

not confusing anything .... any transaction scancell makes creates a movement in the accounts. thus the balance sheet, P &L are affected.

your post

Hotw1ngs
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inanacoToday 11:27CRUK are a charity, there are no tax implications.
The £20 mill will be spent by them, either directly or indirectly, it will not be given to Scancell, and will not appear on the balance sheet, simple as that.
Furthermore, not only is CRUK a charity, any work done on the trials will also be deemed as being R & D for an unmet need.
Scancell aren't spending the money CRUK are.

exactly ........ as its a grant for scancell plus partners the cash can only go to them ..

C7 post says it all .........

""""We are very excited to be an integral member of the team shortlisted for this prestigious award. Â If successful, this significant, non-dilutive funding will allow us to extend the utility of our Moditope """

described as non diluted funding ...... which means it has to be looked as a balance sheet figure ... ie its funding scancell and partners to develop Modi3

so the money sits somewhere ... as the work is done by the legal entity of scancell money will enter scancells bank account to pay for it.

exactly crumbs, and for scancell to do research reflected by this grant, it has to follow UK accountancy practice, which means the in and outs of the cash movements ie grant in wages out etc, have to be declared at the end of years accounts

even with two bank accounts ... ie one for the grant and one for other developments from the cash raising etc .. scancell would still write the cheques ...
so legally one entity scancell

cost centre is not off balance sheet ...... its a sub section withing the balance sheet and banking , the accounts of the whole are submitted to the revenue and posted as the year end results

the only way to go off balance sheet is to use a separate legal entity, as the grant has been applied for in the names of scancell etc .. this cannot now change

this is your post ........

its wrong

Hotw1ngs
Posts: 236
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inanacoToday 11:27CRUK are a charity, there are no tax implications.
The £20 mill will be spent by them, either directly or indirectly, it will not be given to Scancell, and will not appear on the balance sheet, simple as that.
Furthermore, not only is CRUK a charity, any work done on the trials will also be deemed as being R & D for an unmet need.
Scancell aren't spending the money CRUK are.

Under UK accountancy rules that is not possible .... have a good day !

No i am not ....

scancell is also a receiver of funds even if its not the host, those costs come from the balance sheet ie wages, thus have to be paid

now you are trying to explain the a new company would be formed with all the additional costs including licensing from all recipients of the grant an IP transfer ie Moditope IP moves to new company .. really ?

post what you want pal ... everything you have posted makes no sense

Tosh this is what you actually stated

That in effect CRUK is spending the money ............. they are the researchers ? as i have posted from CRUK website that this is not the case, why do you insist it is ...

PS ONW Disappeared quick enough as well having understood that

--------------------------------------------------------------------------------------- your post

Hotw1ngs
Posts: 236
Opinion: No Opinion
Price: 12.05
inanacoToday 11:27CRUK are a charity, there are no tax implications.
The £20 mill will be spent by them, either directly or indirectly, it will not be given to Scancell, and will not appear on the balance sheet, simple as that.
Furthermore, not only is CRUK a charity, any work done on the trials will also be deemed as being R & D for an unmet need.
Scancell aren't spending the money CRUK are.

well it has to show on the balance sheet, if it didn't no costs of research could be attributed to it ... that is so simple to understand ?

or are you suggesting Scancell as a Public listed company runs a "shadow accounting system" or something else ? just to satisfy your need to be right ? and hides the research in a shell outside of the public company .. ?