Member Info for IvorHunch

I agree Steve. If DA is subject of an IPO it would enable Tern to retain a stake - maybe 20 or 25% rather than having to sell out completely. This would ensure that Tern could benefit from future growth at DA both in terms of share price and dividends. A US IPO would be ideal and almost certainly achieve more than a UK IPO.

Moving out of Tern into Vela is total madness. Selling a proven high tech company to go into a ragbag of dubious investments makes no sense - I know because I used to have shares in Vela.

Tern's performance over the last few weeks has been quite extraordinary. In 50 years of investing I have never experienced a share rise like this, consistently and with very little news. I've had some profitable takeover situations and a number of multi-baggers, some like ITX and ALGW over the last 12 months, but Tern is truly remarkable.
With most shares you can make some sort of valuation, however optimistic, but Tern is for me unique because nobody can really value its potential. I know that it's very undervalued but that's all. How much is DA worth or Wyld? How will Tern realise these values - by sale, IPO, or by long term holding? We simply have no idea and people who put forward value on the shares are simply whistling in the wind.
So a great experience for me, unique, profitable and fun!

The current marketcap is £57 million at 17p, so at 35p the marketcap would be about £115. The shares would have to be over twice that for a value of £300million. Of course it's all hypothetical as it depends entirely upon the value they achieve for DA, and at the moment no one has any realistic idea of what that figure could be. For now it's just guesswork.

ADVFN bbs are full of dreamers and fantasists - especially the TERN board. There might be some occasional sense but it's usually overwhelmed with pure fantasy. Predictions of TERN's marketcap in the £billions etc etc. I look at ADVFN for fun, but return to LSE for realism and sense.
Take a look at the ADVFN board for SYME if you really want to meet the fantasists - people who have mortgaged the house to buy huge holdings of worthless shares. Mark you the SYME board here is not much better !

I added today to average my price down. I have had a particularly successful run over the last 6 months with several multi-baggers - ITX and ALGW - and I see INFA as a long term speculative hold, a sleeper. My initial timing was unfortunate but this is an opportunity to average down. As I've mentioned before on this board, it's really a bet on the management. The company will prosper if properly managed, but I think we have to take a 2-3 year view.

I think you are right, Smartinvestment, but there is another element to factor in namely the roughly 30% of shares held in USA. If there is press interest positive comment in the US, the share price could respond. The recent pattern of a fairly weak sp until 2pm followed by a rise, suggests that the US element is significant.

My mistake over the years has been to sell too soon, top slicing then selling in batches. I am determined not to do this with ITX because although I bought in at an average price of 1.7p, there is huge potential here and while I can see some mathematical logic in top slicing, (ie getting back your original capital) I cannot see any financial logic when the share is rising so consistently. 20p has to be an achievable target.
Incidentally I know this link has already been posted, but I really recommend this YouTube presentation:
hTTps://www.youtube.com/watch?v=xPVEyYlgDq8
It helped explain the significance of polymers in the battle to reduce the use of petro-chemicals. Itaconic acid polymers and ITX are discussed.

Presumably some of this morning's rise is due to overnight buying in USA. John Shaw stated that a third of ITX's shares are now held in USA. The podcast was really an eye-opener in the way that JS opened up the potential of their product to so many areas including de-odorants, hair styling, replacement of detergents in many household products, even paint. He made Itaconic polymer based acid look like a wonder product - maybe it is! If so the sp has a long way to go.
I've also been in since the sub 2p days and bought a fair sized holding - certainly no top slicing for me at the moment.

Stokey I agree that there are many ways of raising capital, but most cost more than issuing new shares. Preference shares would have to at promise future dividends, obtaining a floating charge over assets would incur interest payments, whereas new shares need promise the investor nothing except jam in the future. Of course Infa could sell an asset, but at this early stage of their development I don't think the market would be happy with that.
Ultimately I think it will all come down to management. The potential turnover is there and evident to all. It's up to the management to turn revenue into profit (which previous owners of the various businesses were not able to do). So it is really a gamble on Infa's management skills.

More important is Simon Harford's US connections and experience. C4xd's potential would be greatly enhanced by recognition in the States, possibly by a listing on a secondary market. The CEO of Blue Prism recently said that his company's value would be higher by multiples if quoted in USA, and I suspect C4XD is the same.

Personally I am not too concerned whether Infa decides to issue more shares at a later date, in fact I think it's almost inevitable. The stock market is a means for companies to raise capital without adding to borrowings and I have taken up rights issues in many companies that have gone on to do extremely well. My main concern is that it is not a private placing but open to existing shareholders.
The potential for Infa is quite staggering and its turnover will soon be multiples of the present figure. This exponential growth is not going to happen without more funding. Inevitably a placing or rights issue will damage the sp short term, but it will be worth the temporary pain.

I am a recent investor in Infa buying in at roughly the price of the recent share issue, namely just over 45p. I see the latest figures very positively as I am always very interested in turnover as a means of judging progress. How many companies have recently grown revenues x10 ? It's an amazing achievement in difficult times.
My other concern when investing is Marketcap, and again Infa with a marketcap of under £40 million is remarkable. There are plenty of quoted companies with hardly any revenues with marketcaps of much more (dare I mention SYME?).
I also feel that the recent acquisitions have been achieved at very reasonable and realistic prices. This is a very exciting long term investment IMHO

It's not just that the shares have fallen 14% since Walmesley took over, it's also the fact that other big (and small) pharma shares have soared during the last 2 years. Set against the sector, GSK's performance has been much worse than minus 14%.
I'm delighted about today's news - if nothing else it will share the board up and force them to take shareholders' concerns seriously.

I'm very dubious about this development - have posted my concerns over on ADVFN. Essentially, after many unfulfilled promises and a failed business model, DKE is jumping onto a bandwagon about which it knows nothing and where it is out gunned by many larger and more experienced players.

The price is up and down like a yo-yo this morning which I suppose is to be expected as it's still difficult to see the new resistance level. I imagine there will be several more declarations of major interests to come as more individuals and institutions must have taken up the massive share issue. Optimistic that at last something is happening.

Things are a bit quiet here, but I imagine the full year results will be accompanied by unaudited results for Q1, so maybe out late April or early May. I am a long term holder since the 1.5p days and have noticed that when ITX announce results the market is usually disappointed and the price weakens. This is because the market is always over-optimistic and never appreciates how long it takes to build a company virtually from scratch. Neil Woodford fell into the same trap. It's going to take a few years to build the company, but the results for Q1 should raise hopes and it would be good to see the sp rise back to the 8p it touched recently.
I don't see why a bid for the company should not succeed - IP Group would certainly welcome a profit, although I don't know what they paid. The Hargreaves Lansdown holding is composed of individual small shareholders who would accept a profit so that's 26%, and investors like myself would certainly be interested in a bid over 10p. So it could happen. For the moment the sp will do little (as I predicted here some time ago) because the punters have moved on, but they could well be back in April hoping for good results.

Ponkey,
I suspect you are the naive one here - believing in the hype rather than the current facts. As regards experience I have been investing successfully since the 1970's and MCAP is always a major consideration before I invest.

I agree with you Napalm. Not an investor here, but I struggle to see how the business model actually works. As you say, healthy companies with strong cashflow do not need the services of SYME, so presumably they would appeal to companies who do not have strong cash flow, therefore much more risky. The MCAP is also absurd at £167 million at 0.5p per share - yet punters are talking about sp of 5p some 30-50p. Reality has been completely overtaken by hype and speculative fantasy.

Obviously ALGW is unique, but I would take a serious look at TERN, RUA, C4XD, PYC and RENE.