Member Info for jimbogains

Thanks Porky. I don’t think I can bring myself to commit any more funds given I’m down 2/3. That said, I do see the potential for significant upside here. I really don’t think £160k for a CEO’s salary is excessive. Progress is being made. Holding for the long term.

Thanks all, that’s really helpful. Seems like a question of when not if now. Fingers crossed for a big win this side of the new year!

Been a while since I posted on here, glad to see some positivity for once!

Looking at EUDA's financial statements, it does not have a huge amount of cash ($900k as of September 2022) and market cap only $44m. Assuming that EUDA will be funding the next phase of development (rather than TRx bringing its own cash to the table), I assume then that EUDA will either need to borrow or issue new shares to fund next stage of development etc. The former would be quick, the latter potentially a bit more time-consuming.

So... keen to understand this board's views on whether the above is a sensible assessment (in particular, whether we have cause to believe that TRx has independent funding); and if EUDA's cash levels could indicate we have a while to wait to get cash in the door?

Interested to see if this is actually any better than it was before for Valirx, there’s a lot of govt spin on the new SME R&D regime. Up to 31 March the benefit was actually worth 33.5% of qualifying spend, whereas now it’s only up to 27% (and only 18% for most SMEs). They have expanded what constitutes ‘qualifying’ but the rates have gone down and most businesses are worse off.

How exciting!

The company could well be in its death throes, although I certainly still have hope that my investment will prove fruitful! I wonder how consequential Wednesday’s meeting will be. Hopefully some positive news on underwriting the rights issue or, failing that, a positive proposal the broader existing investor base can get behind. Otherwise, down to zero we go…

Sorry, perhaps I’m blind… where is the reference to new docs being posted in the link? I can’t see anything since last February

This is all down to secret genius moves from the BOD. Go team

Appreciate the sentiment is overwhelmingly negative at the moment, I hope this can be reversed. I really do feel strongly that a change in the management team will be bad for the business. I definitely disagree with the negativity directed at Stella.

All we need is a few days of share price increases, with or without any news, and people will be talking about the BOD like they are geniuses.

Did I watch a different Q&A from everyone else? Just seen it.

I was impressed with Stella - she seems to be doing a great job of focussing the board on how they achieve their goals. She was able to clearly articulate how Val can move into a self-funding state and also grow the ultimate return to shareholders. With her guidance and oversight, I am in no doubt that Suzy will be able to deliver on what has been promised.

Looking forward to a self-funding business in the mid term.

On 201 - Stella didn’t seem overly keen and wanted to focus on lab etc. I think it’s right that we stop thinking so much about it. If it pans out then fine, but there’s many other opportunities for the business which have a greater chance of success, so it would be better for the management team to spend their time making the other opportunities work.

I am a sheep, what should I do.

Hi Adam. Can you please ask Stella what attracted her to the business, whether she has an idea of how long she will be on the board, and what her core goals are whilst she is there.

I'm sure covered on here before, if so sorry but I can't find it. My question: If/when Poly's board is satisfied that its financial position supports the payment of dividends, is there a mechanism for it to actually make such payments in GBP, in light of sanctions and the consequent restrictions on converting RUB to GBP? Or are we in a situation where there is no real ability to pay dividends until sanctions are removed?

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?