Member Info for Ivyspivey

Morning let us hope We will have a much better Xmas 2019 than last year.

https://pbs.twimg.com/media/Du2jgUyXcAEKIno.jpg

Evening,
Great work by Prodigy to get article and although we all know the problems of getting real info from such articles as things are incomplete and get lost in translation and many unknown nuances.
However, we will all be selective in picking bits out that suits our own situation but it is just good to see ZM still around so something must be happening.
Yes we know we can’t take him totally at his word but still think biggest thing is his alignment with SH and yes still huge risks here and although he appears to have done badly by his workers any news of him still fighting for the future of FRR in my. Book is positive.
How it will eventually trumps out we just have to wait and see but at least we are getting some info

My mistake it was me who posted the June one

Seingrid think that was back in June

Date/Location:

Saturday, June 22: A parade and/or public event in downtown Tbilisi, exact location still to be confirmed.

Event:

Members and supporters of the LGBTQI community plan to hold a parade and/or public event to mark Pride Week on Saturday, June 22. We anticipate the event could draw sizable crowds. This is the first year that public events are planned in Georgia in association with Pride Week. In the past, public events involving the self-expression of members and supporters of this community have resulted in heated and sometimes violent response from counterdemonstrators including injuries and property damage. U.S. government personnel have been advised to avoid any area where a large crowd is gathering.

Actions to Take:

Avoid demonstration activity.
Exercise caution if in the vicinity of large gatherings or protests.
Monitor local media for updates.
Keep a low profile.
Assistance:
U.S. Embassy Tbilisi, Georgia

Thx Prodigy

Morning,
I find it hard that unless it is some sort of amateurish attempt to undermine Levan credibility by a junior within the fund that this can be true as it is so easy to prove one way or another when so much is at stake.

Yes we never stop learning from our experiences on AIM and I made on IMM but lost a lot on the other one.
Other folk did it the other way around so there is no clear way of predicting how things will turn out.
Most of us on here are underwater some much more than others but no matter as it depends on a whole host of factors whether this really matters to us.
All I ever want is a balanced board where praise and criticism can be posted and evaluated in a fair minded way and it is good to see debate taking place in the correct manner.
ATB

Good to see more realistic posting and agree Crumbs was a really good post and raised many pertinent points.
The reason why the SP has drifted down is quite clear and that is lack of news against a background of what ALLpoliticians and BODs should not do and that is make promises they can’t keep.
Ties in with the quote about what knocks Company’s or Govts off course and the point raised by Ray P.” Events dear boy,events”.
So should we expect a BOD to manage and plan these things better?
Well I think there is a strong case for saying SCLP can improve in this area hence balanced criticism of the BOD rather than just accepting what they say without question.
The recent recruitment of Dr Ursula Ney as an NED a case in point.She may help Martin Diggle in strengthening his position but I would prefer a much heavier hitter with recent Senior role experience in bigger pharma to add a much needed wider corporate perspective.
Traditionally SCLP have wanted a “ cosy” BOD and that may lead to them getting on well and making good progress but I really feel they need a bit of “ vim and vigour” in seeking to energise progress towards generating data in a number of areas.
The absence of a City Financial dragging down the SP is another worry as the decline has occurred without a known distressed seller.
Plenty of food for thought and can fully understand the current strategy of allowing CRUK develop SCIB 2 and concentrate on Moditope/TCRs and MABs.
Yes I know the science will see us all through if it turns out to be as successful as we are led to believe but we have seen from the experience of SCIB 1 that “ compelling data” does not of itself lead to commercial validation.
Let us hope the BOD have learned a valuable lesson here and that the same thought process is repeated in the other platforms.
ATB

Furthermore, the Liquidators consider that the FRCC Directors (acting both in their
capacity as directors of FRCC and its subsidiary FRGC) have either deliberately withheld important
information, or have not been as forthcoming as they should have been, especially in connection with:
(i) the Farmout Agreement and Assignment, a material transaction divesting FRGC of its only
significant asset shortly prior to the commencement of the Cayman Liquidation; (ii) the Arbitration, to
which the Liquidators understand FRGC remains a party despite FRGC’s attempt to substitute FRUS;
19-13418-mew Doc 2 Filed 10/25/19 Entered 10/25/19 18:12:46 Main Document
Pg 12 of 29
13
and (iii) FRCC’s apparent liabilities to unknown creditors of $2.2 million, described on FRCC’s singlepage
unaudited balance sheet only as “Notes” (the “Liabilities”).

Does anyone know about the unknown creditors of $2.2m.Is this referring to the YA debt

https://www.opensecrets.org/lobby/clientsum.php?id=D000071040&year=2019Looks like FRR have spent $150k on lobbying with Cornerstone in 2019

Morning,
Have to say I don’t take it as a positive sign that key people have left abruptly if that is the case.As why would they if a buy out as surely they would stay until announced.
Good they appear to have stayed throughout court process to keep lights on and business ongoing but can only think it is arbitration decision which has caused decision.
Happy to be proved wrong but not sure

https://www.opensecrets.org/members-of-congress/bills?bill_no=hr1461-116&cid=N00033410&cong=116&cycle=2020

Morning
Interesting the Mullin guy from Oklahoma was involved with this bill

Bill H.R.1461: Georgian Fair Business Practices Sanctions Act of 2019

Is also an Energy guy

Fair dos Gipps if that is the case then can’t draw any conclusions about arbitration and of course he can still be representing FRR

Morning
Interesting news on Levan.Hard to call but it appears that he has left FRR and to me that is nit a good sign as he says he has participated in 3 arbitration cases but certain if it had been concluded he would still be with FRR and/ or he would have reported successful outcome on CV

Morning Jackdaw
As you say the presence of large institutions is normally a good sign given their level of DD,their normal less risk averse nature,their expertise and regular contact with the Company.
As we have seen here there are no slam dunks and likes of Invesco have lost heavily here as have PIs.
Whether it has an impact on their willingness to continue to invest long term in small bio techs we will have to wait and see but their experience here will effect these type of decisions.

See p11 for some recent changes of law on ADRs in Georgia.

http://www.investor.ge/res/2019_5.pdf

Always a balance between the value of the listing to a third party and of course the costs of keeping it.
SP yes you called this right even if you did not predict the DILI issue but you would have complained about the cost of the flights if it had been held in London and we totally get your views on GL which are now shared by many SH including myself in recent months.
Yes if he appeared in London then SH could more easily have attended and ranted at him if that made them feel better.
However very few attended the AGM( I was one of the few) and His comment of all options covered has turned out to be a very shallow outcome.
Continue like a broken record if you want to but water off a ducks back to most of us LTH who have probably written this off but hope they do manage to salvage something to give us a glimmer of hope.
ATB everyone

Hi All,
The Italian FWIW and I know many here including me have changed our thoughts a lot on GL over the last few months but I did speak to him about 18 months ago and asked him about what happened if phase 3 trials were not “ positive”.
His response was that the Nasdaq listing was “ valuable” in that Company’s would be interested in RTOing but of course given what has happened since and our perilous cash position and high costs of being listed there we need t make a decision.
So there is value in it but NTFB have to decide soon
ATB I am doing the same as you regarding holding on but with a holding worth a lot less than it once was lol

https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=11&ved=2ahUKEwjr4uTy5LXlAhXkWxUIHd4nDVIQFjAKegQIBBAC&url=https%3A%2F%2Ffas.org%2Fsgp%2Fcrs%2Frow%2FR45307.pdf&usg=AOvVaw2zxrUG-l_WYUk03QtTbk1o

Morning Bugsy.See one of his specialities is debt recovery.
Pleased he is working for us and perhaps he can advise on the best way for FRR to avoid debt recovery from 3rd parties.Poacher turned gamekeeper and all that.As long as we are paying his bills lol