We would love to hear your thoughts about our site and services, please take our survey here.
Well obviously the directors won't be putting their hands in their pockets unless there's a full capital raise, as the business will go bust and they'll lose all their money. Whereas if there is a full capital raise, then it's onwards and upwards
Isn’t the point with 201 that, given the age of the patent, it has limited value without an investment in reformulation, which we can’t do without TRx’s specialism. I’m not sure that Val holds all the chips here.
Successive CEOs haven’t managed to monetise it and I’m sure if it was easy it would have been done. Fingers crossed we can get there with TRx. If not, the time to move on from both 201 and (potentially) TRx will come.
I would be surprised if Val is not entitled to the service payments from TRx, whether or not the licensing is concluded. But it would make sense for cash settlement of the payments to be deferred if it has not raised significant funds.
People should stop dirt talking Suzy - she has a plan, is trying to monetise legacy assets (and progressing further than the previous board) and there are various exciting developments in the pipeline. Whilst it’s good for shareholders to hold the board to account, personal attacks are not helpful. Let her get on with it
TRx/201 prospects are starting to feel quite remote indeed.
Anyone have an idea how much it costs to establish a lab? Presumably the premises and most of the equipment can be leased, with limited initial capital outlay? What expensive kit will Suzy need to go out and buy?
It’s an interesting point, PM2022. I can’t understand why the company would issue 20m shares (and so, have so much tax to pay) if it had not actually raised some funding. Why not just issue 100 shares at $0.01 per share and save a ton of tax, then issue more shares to investors when funds come in? There must be a decent amount of cash in the business. But I doubt it’s making any money.
That said, note that each share could be subscribed for at any amount they decide (including, I understand, nil in Delaware). So we have no idea how much cash is in the company, just that they have decided to set up their capital structure in a way that requires them to pay $170k of tax
This is just the Delaware annual franchise tax - it’s a tax paid for the right to exist in Delaware, based on the number of shares (not profit). There are 20m shares.
The tax is calculated as follows:
1 to 5,000 shares: $175
5,001 to 10,000 shares: $250
Each additional 10,000 shares or portion thereof add $85
This is definitely the year that VAL makes me rich. I can feel it in my kidneys.
Didn’t have time to watch the presentation through, although I did manage to take in a few snippets. Can anyone confirm sense of direction on 201? I understand from what I have read that management are acknowledging the TRx option may not be viable, is this correct?
Fingers crossed, team!
Any reason Hightower?
Fully agree with cobalt
Recent developments are all great news, but if the company doesn’t show progress on VAL201 then it hasn’t evidenced its ability to commercialise its product or whether it could have a trusted partner in TRx going forward. Fingers crossed Suzy will get this across the line, it’s all noise until then.
Is Stella coming on board with a specific purpose? Her LinkedIn profile says she’s a specialist in delivering shareholder returns through trade sales and IPOs. Obviously we don’t need an IPO. But could there be a purchaser for the business? TheoremRx, for example?
Having worked for a Big 4 firm, I’m pretty sure KPMG, with its in depth knowledge of the business, will have decided not to participate so that it can go for the far more lucrative consulting advice
I was wondering if she might have come on board to progress a specific project but that doesn't seem to be what is envisaged per the RNS.
Great to see some positivity back on the board :-)
Fair enough Adam - I do find it hard to bear some of the (financially?) illiterate nonsense on here, feel as if your best efforts will be wasted on this board.
One question for you, if I may - in your new role at Valirx, are you now on insider lists? Sorry if dealt with elsewhere
Any attempt by Adam to sell down his stake would impact on the share price, so there’s little incentive for him to short-term ramp here. He’s in it for the long haul.
People suggested a role for him and he took it on, I don’t understand why some people have now decided to go on the attack. Get a grip guys, if you can’t stomach the risk profile then invest in something else.
TRx will be raising funds privately so it may well just be some of Ken’s old buddies with bundles of $$$. Who cares. If I were putting money into TRx I would need to be sure that the science behind VAL201 is good - thus the due diligence being performed. That said, it should be abundantly clear that if the funds are not raised this third and final time, either 201 is a dog or Ken etc don’t have credibility.
Either way, if there is no deal this month, I would implore Suzy to either take decisive action or be abundantly clear to investors why she thinks it appropriate to continue down the TRx path - if the drug and/or Ken are rubbish then there are plenty of other areas to focus on in order to drive value (particularly if we are subsidising TRx in the meantime through service provision)
Seems unlikely that the exclusivity period would be extended again without any payments made. Hopefully we will get clarity either way this month - not a great fan of uncertainty! You can do it Suzy
Forest - shareholders’ rights are subsidiary to those of creditors. There is zero chance the judge will say it’s inequitable to shareholders
Am I the only one that was expecting more movement on share price when markets opened? What’s happening
Putin just needs to show he’s won something. He knows Ukraine will not fall, so it’s just a question of when he agrees to meet at the negotiating table to find a way out.
As far as I’m aware, there is no constitutional right for president to appoint his successor (noting that the reality of how it works may be different).
Nationalising foreign assets would be an incredibly risky gamble. Foreign banks hold hundreds of billions of Russian assets and Western countries also have vast amounts of Russian-owned infrastructure on their land. Comparative financial and other investments made by non-Russians into Russia is presumably significantly lower. I struggle to see how nationalising foreign assets would work in Russia’s favour.