Member Info for jimbobtechstock

And then bugger off 6 months later and leave us with another overhang! I have mixed feelings about director holdings for many reasons, a decent options package can align interests with SHs without making them fear difficult decisions becuase they are looking to release cash from their own holding in a short time frame. Also good strategic thinkers will see the undue risk of having both vmcareer and investment savings in one AIM basket so I'm relatively relaxed about how many shares BOD hold

I'm also hoping new CEO with a clear head will reach out to TB and see if he can't persuade him to hold back on this ridiculous fire sale - and I don't mean the "pause" TB mentioned to us in the Twitter group but a proper period of reflection to give the new guy chance to progress the commercial side.

If there were anything majorly amiss in the upcoming interims as incoming CEO wouldn't you want to delay your appointment until after the decks were cleared? I know I would both (a) ask to see the financials before coming on board and (b) not want my first job as CEO to be fielding SHs after some dire numbers posted.

You'll have to ask him he made comments in a small private group but it's nothing that hasn't been raised on this board and my view is that the very least the jury is still out and even if he's right they are not insurmountable issues and at this mcap it's priced to fail so any commercial traction coming this year should snap us out of the rut.

TB did say he had "paused" selling, "turned off the tap" etc, several holders can attest to that as it was said in a private group that TB asked to join. He didn't say he had done so permanently. He also discussed his concerns - which I don't share. The mcap is under �4m and the product ready with CE mark. If he wants to continue to sell at such a low SP it's his prerogative and nothing else can do but continue to average down throughout his fire sale. At some stage the price will get so low he will either stop selling or it will unlock buying to clear the overhang due to the clear value. I made a little spreadsheet of his notified dumps, showing the pace of selling to be increasing, give or take some for his recent "pause".

". After some of the placings, director options and muted response to today�s news, Not comfortable" Honestly what is that supposed to mean? "Some of the placings" - they raised �15m at 20p and the SP was about 20p at the time of the post. The placing therefore was not giving away shares at a silly price, was it? Also they are capitalised. "muted response to today�s news" - Erm, do we normally see AIM shares fly on director appointments? Looks a good appointment to me, but it's hardly going to bring in the herd, is it? "director options" - Honestly. What are you on about here? Lowest option price is 19.1p - a whopping 5% discount from the SP at the time of your post. 19.1p Options represent about 5% of the authorised share capital. Weighted average exercise price for historical warrants inherited during the RTO was 133.6p Lapsed options leaves that 815k shares at 84p. Clearly a reason not to buy in. I have been providing commentary on the odd trading here in a couple of twitter groups. Odd posting on BBs to add to that. I'm assuming somebody is taking a position ahead of what could be a transformation few months, with 3x distribution agreements signed for Lojuxta and upcoming interim data review point in the EB trial. GLA.

Holder can't TR1 until the shares are issued and because the placing is conditional (see RNS) on admission technically the placing doesn't complete and shares issued until admission in this instance. Noticed the MM were reluctant to up the bid this morning, perhaps expecting it to get dragged back to placing level. With possibly as few as 2 holders taking the entire placing the free float should remain unchanged and will be interesting when the non-believers start to believe the story here. Order book turned around and now some working capital to take them forwards, capital raised at 70% over 1.3p autumn placing, no warrants, minimal discount (bid was lower than 2.25p at times yesterday) and gone largely (if not wholly) to sticky holders. Couldn't have asked for more really.

The warrants have been traded and with nearly 4 years left before expiry will continue to trade meaning the effect on the SP is not the usual fear of dilution but a diversionary affect as they continue to bed in. Some holders no doubt moving from shares to warrants to lower their capital outlay for the same upside. The price-volume trend line is looking strong since the R2 data, meaning rise on volume and reasonably contained drift on low volume. Bidder is back in town now with 100k bid at 41p. Moving averages are now currently in a "perfect" order, with SP sat over the MA8/10 and that above the MA20, MA20 over the MA50 and so on to the EMA200 over the MA200. All the MAs are bunched in the 30s from 33p upwards so should be very strong support now going forwards. Carved out a couple of oscillations on a rising hilo and I expect it to continue to edge up to paint a W3, taking the R1 spike as a messy W1 in an Elliott wave series. Current battle is over the strong c42p support/resistance horizontal that is clear going back 2 years. Very strong line so I was surprised we sailed up to print 43.5p start of the week - thought we'd broken that resistance but we also broke the upper Bollinger and got squeezed back. Held for over 2 years now, increased significantly a year ago on the post-IPO bloodbath and have at least another year in my timeframe if necessary. However I expect the coming month or so to be transformational in the SP and hence why - as per usual - the market is working hard for every share.

Spot on OT today? Looked like the vast majority of trades, perhaps over 80%, were ATs Real ding dong battle today. Bulls and bears slogging it out this close to Christmas?

Theory is that LTH have been acquiring the 5-year warrants as and when they become available. Supply has been scarce ever since the Nasdaq IPO, especially the UK warrants traded OTC, and the Nasdaq warrants are listed as a separate instrument so we get a quoted price for the warrants. Price for the warrants has diverged, supporting the theory that LTHs are swapping shares for warrants for improved leverage or reduced capital outlay for same upside potential. Also heard on the grapevine that the reason Invesco sold down some was that they would have over 30% of the enlarged sharecap should they converted their warrants to shares, and that put them on shaky ground regarding market rules for mandatory bid. Assuming this is correct then, working back at the time, they must have been picking up warrants on the market to get to the 30% level based on the warrants they got during the raise (or else had some older warrants that were recently declared in the US SEC F-3 filing). Either way the chart suggests warrants are more in demand than the ADR and ordinary shares, but US spead and thin trading would indicate supply drying up, so hopefully that game coming to a close now

Couple of tweets on the warrant situation https://twitter.com/jimbobtechstock/status/942782436685090816

Troajan - nice to see you, been a while since I'm avoiding LSE in the most I know there's the old saying about markets remaining irrational for longer than most PIs can remain solvent... However worth remind ourselves that the SP here *is* irrational and will correct at some point. The nonsense has been going on for well over a year now, ever since someone crashed it to get the US IPO done at bargain basement prices. Since that IPO we've had 2x good data from R2. In fact since the summer placing at 30p we've had: - Final piece of the ABSSSI data, good data for R2 - New indications progressed for CF (and ODD status) plus promising work showing efficacy against bacterial exotoxins in NF - Non-dilutive funding to commercialise ABSSSI indication Add to those 3 MAJOR progress items we've seen dose patents applied for, and recently published. If granted they will significantly increase protection period and hence increase NAV further - potentially. Pretty much the only cloud on the horizon is those AMP shares, and considering we don't have to go to the market for funding now we've got the Hercules loan then I think it's a good assumption that there's II appetite for at least a significant chunk of those AMP shares at some point above the summer placing price. We've seen Sand Grove take 6% pretty much on the open market. PIs have been bored off the scent, that's probably the major game in play now. Getting rid of the rabble at bargain prices before the free float tightens and the price, finally, gets up towards those broker targets £1+ Incidentally take a look at SQS for a case study in how PIs can be bored off the scent. When the buyout offer drops at 50% over the previous day's closing price there was just a couple of BB posts within 2 hours of the offer RNS dropping. The share had been rinsed dry. Back here on Motif shares are moving from the impatient to the patient. At some point the float will tighten and... ping - those of us left are a lot happier.

FWIW I don't see any notable risk of NDA non-acceptance in the first phase of the application process. There's been some vicious press over the last year which is playing on investor fears but I believe that is all part of a strategy to bore/scare PIs out as shares move from PI to II in the run up to (hopeful) approval and first sale. Contrary to ADVFN deramps Herculese Capital did NOT take death spiral warrants, they took simple ADR warrants at $9.51 from memort, giving them access to upside from here that their capital unlocks. As a consequence Hercules are taking a risk investing in the asset as they won't get repaid if Iclaprim doesn't make it. Therefore I believe they will have done serious DD before handing over the first $15m of the loan. Part of that would have been esuring iclaprim stood a very high chance of FDA approval, given the data that was in at the time of the loan. FDA has been consulted at all aspects of this trial, including the dose changes and trial sizes etc and the letter of concurrence received in an RNS back in 2015 I think. So why the market might wait for anything from the FDA is beyond me. I see this now a run up to (likely) approval as well as hearing what might happen to ODD/CF inhaled and any developments in the exotoxins work which both got very good feedback after ID week I hear. Also expected publication of more REVIVE data.

I've also heard from 2 separate sources that Motif are very wary of FDA scrutiny in what they publish by way of market updates - they very much don't want to be seen to be lobbying or boxing-in the NDA assessors. My sources indicate that the CMC section won't be an issue as it was already passed by Arpida and Motif acquired the original data and assets from the Arpida days. Word is that it's all very much in hand but the company can't say anything publicy until the NDA paperwork is formally accepted by the FDA.

Throughout the last year, given the SP performance, I have been in touch with investor relations on a regular basis - mainly to hear it from the company itself that there is nothing in the science etc that could be responsible for the various drops. Also to hear background information such as the levels of due diligence undertaken on the company for funding rounds that all helps me to gauge whether to stay long. There's quite a few of us sharing my responses but I thought I'd share in public that my most recent string of questions was met with a blank. I was again assured that there was nothing untoward, given the pullback since R2 results (in fact I had a long telephone call last month with Mike Wort to discuss that) and I was told that the company would be updating the market on the progress of the NDA application in due course and that the answers I was seeking would be answered through those updates. The questions I asked were: * If the company qualified for a Fee Waiver with the FDA (one of 2 possible routes to that) * What the ODD/CF and HABP strategies might be going forwards (understand this is priviledged and needs an RNS) * Whether we need to appoint a US partner in order to complete the CMC section of the NDA form (I'm told on good authority that the company is fine on this due to having the facility and data from the acquisition of Aprida-era filing) * What the impact of the rcently-published dose patent filings from last year might be on protection period

Depends what kind of sales model they are going for. If they can license effectively via a small number of high-level contracts that reach target market (eg OEM deals) the small team is largely free to focus on the tech programme. Of course even that level of deal making requires time and great skill and good contacts to realise good value for SHs but it's not impossible. Also TexRad is a wholly owned subsidiary with it's own corp structure so to split hairs it's not necessarily whether Feedback Plc BOD is light it might be about TexRad Ltd

Frustrated too but for a bit of balance, as I suggested in the Twitter group in advance of the TR1 - there was a buyer our there too, and instead of seeing TB "vindictively" selling at increasingly low prices I see him being chased down by a buyer, for whom we now have their TR1. Also possibly MM, TB's selling being well signposted, may have sold short to chase down the seller and get their shares at lower prices. Recent action is interesting because there has been some serious circular trading and the net effect so far has been to bump around in this range. It is conceivable there is still a buyer out there, and I'm not even sure TB is still selling as this is a very different trading pattern to hist last 2 known dumps. As I say, frustrated, but I'm open to a range of possibilities esp re yesterday's apparent "sell off"

Parasite seems unkind. Sister company is far too charitable. Prefer to think of them as a dodgy old uncle who can't be trusted in the bookies.

Polarean delayed until next year and MM clearly knew some news was coming a couple of days ago when they spread out to 50% And the dumped on the 15th November possibly knew about the delay last week. Only interested in AMP as a large SH in MTFB - having AMP as a shareholder is dragging our price down.

Holding any share for for a few years means there are pinch points, the most painful of which can be when the market is being irrational in the extreme. As SP retraces reach a conclusion LTH pain peaks (today is v painful) & many will sell. Oh, and the bad press/deramps can be the final straw - hence why traders post them. Anyway - just a brief note to all genuine PIs whether they've been here for a few days or a few years to beware of emotional drags caused by SP movement alone. Remember Aviva have 1.465m shares out on loan (see holdings RNS 17-Nov-17 missing from LSE for some reason) so a high probability that this lull is artificially low.