Member Info for JohnLewis79

Think all the 0.60's are buys this morning as I put some more in at this price.

Morning Del...pity they couldn't have wrapped this up at the EGM! So the final deathrows will last to the 19th. An ignominious end to a once great prospect of Britain's technology future.....as a quoted Co I hasten to add! So the fat lady has a verse to sing before she takes her final bows at the Royal Opera House, her understudy limbering up for a provincial debut in a far off county town. Two matches to play every chance of reaching Russia if we beat Georgia then a draw will do v RoI for second. Two wins and who knows?...

More waiting ahead for Spo on the US courts ruling on an expanded remit for sports betting being lifted which could be transformational for the industry in the US. Decision not due till next summer. Meanwhile PH expect P/t profits of c £3.5m and a 'heady' 75x forward earnings. Not justified imo and then only if a bid is being mulled over. Further shareholder returns may be on the cards this year prompting holders to stay on board.

Agreed WB....Lots of potential savings but will W do it? A good money manager does not necessarily make a good CEO/ entrepeneur. I hope he has one lined up!

Good team bad product...bad team good product....or as the other WB says..." I like to invest in companies that can be run by a monkey........ because sooner or later i know it will be."

Certainly agree there will be little if any move up should the vote carry. I have written this down to zero for the remainder of its life as a plc on Aim. Thereafter were in the hands of W and a new team to make Sphere the Co we once thought it could be. See no reason why this cannot be accomplished with the right team and the will to succeed. Pretty sure W&E don't want to be associated with another bust. Putting more money in now is only worth doing if you can get your avc down to sub 5 and you believe that W will look after your interests and this is crucial that if we ever re-list the co will be worth multiples of your avc. That's taking a lot on trust but what choice do you have other than to sell out. We might get some more news once the vote is out of the way as to how Proxima has been doing since the last update or at the least some positives going forward? So let's look at the positives. We know P is an excellent product that improves patient outcomes and is liked & a time saver for nurses who have used it. The market for P is large and growing annually at c 3-5% I'd also imagine there is a lot of goodwill for P. We know it's cost effective and is in use in Europe as of now and as long as we can continue to supply P..... who knows?The main drawback is continued funding required for perhaps another 2-5 years depending on how soon lactate & auto P5 can be up and running and get FDA approval. Other than that negative I see few others that could not be sorted in the day to day running of Sphere (a distribution deal Stateside) for instance. Surprises good or bad are part and parcel of the day to day running of any business. So do you think the positives outweigh the negatives? Without info were not privileged to its too hard to call. But I'd just side on the plusses and hope for the best! Look at it this way if there had been an OO and placing of say 500m @ 2-4 which we kinda expected, would we be in this pickle now? I doubt it. W's decision for good or bad has cratered the Co. I hope he has made the right call!

The top 5 iis holders held c 70% before the crash so that left c 42m left between iis below 3% and pis. We have traded way more than 30% since then even given short termers looking for a turn..so my only conclusion is these are being bought and sold time and time again, pass the parcel if you will with no one wanting to get caught holding when the bell rings. The sp has not budged since 30/8 on 33m (23%) traded. Make of that what you will.

Anyone thought of calling Peter Jones of Dragons Den? Heh heh heh!!

Purely as a matter of interest if I pump in my final final...final investment (jeez how many times have I said that?) i will have reduced my avc from 18 to 4.6ish..I'd have liked to match the 2.822 but funds would not allow. If the Co with 750m (poss) shares in issue by (2025) is not worth £35m by 2025 then I deserve to lose every penny and I will crawl on my knees every day to Mrs B's as an act of penance for my stupidity.

More and more shares being dumped by and I'm guessing the rump of shares held by Artemis, UBS & Parkway Technology (c 6m between them). We certainly look to be headed to last men standing are locked in pis who see a chance of realising some value in the years to come. I cannot see this being a bigger risk than those who pumped in £15-20m back at the IPO stage. Has the climate changed for the worse since 2012/13 given the improvements to Proxima since then? I don't think so given the huge amount of preparatory & subsequent advances Sphere have achieved to get us to this stage. If all that is to be worth peanuts then I'm in deep doo-doo and will accept I have been madly over enthusiastic about a device that could not supercede the 'in situ' product in use since the 1950's. That's progress for you one the UK should be proud of! Effn****/-!**$#**/-":;,!!

A sensible answer from HL..no worries transferred automatically.... come delisting. I have arranged finance to cover the 400%+ dilution I expect come 2024/5 by close of business on the 19/9 which in my particular case puts me into the 7+ fig holding. Of course it's worthless as we all know until the new management kick start P...and give pis a glimmer of hope after 2020. Good money after bad? I don't know but I'm focussing on the potential as no doubt W&E are looking ahead to FDA approvals etc..please somebody has laid the ground work for P over the pond!!!!!? Do they even know of P over there?.... Has anybody bothered to send the data? Jeez I'm gonna work myself up into another fit if I'm not careful.

Time for a million buy rugs?

Ms B has just been told by HL her shares are worthless!! That was in response to a simple query as to her shares in an isa and would these be transferred to Sphere after delisting? FFS!!

Morning Del..take your point. What makes the bod think we can sell in the US in 2-4 years time if we cannot sell P in Europe now!? That don't make sense to me...

Most of us our very good at a bit of rear- view- mirroring! A natural state of affairs as pis seek answers to the collapse of the Co's sp. We started 2017 in full knowledge of P4 being launched and expected at least a year of operations yet here we are pulling the plug barely 9 months later. That killed the sp! I'm guessing the deal was that W would only cont to support Sphere on the basis of the Co reverting to the private sector. Whatever the nos said 'cash' out ranked any other consideration. So has W seen a better than expected uptake from hospitals since the last report? What has he seen that prompted him & Evans to shove in another £5M with the likelyhood of more spend ahead? You'd thunk they seen the green shoots of recovery in P interest from hospitals. We can only guess as Rencken trotted out the last rns on hospital uptakes in the EGM statement and pis were kept in the dark. What prompted W&E might also have swayed pis to stay on board. Given that Sphere has lost 99.9% of its value while adding 100%+ to its potential leaves investors in a quandry. We are, or rather might be, a going concern worth approx the bods annual salaries. Does that make sense?

While we pis cont to bemoan our fate we should remember that many might lose their jobs at Sphere. Let's hope that any pruning starts at the top and the 'worker bees' will be retained. At the last count we had 70+ staff employed from sales & marketing, production, administration & development to the cleaners.

Morning cellis.. I think the plan was for P4 to sell enough pancakes for Sphere to progress to P4+ & 5. It didn't work out as rev's never covered even the tech costs. But we kinda knew this yonks ago. It was the strange reluctance of other iis to swerve any further involvement in Proxima. That must have led to the sell out by pis, for if they want out.....? Panic selling by others should never be a concern to you if you still believe in Proxima and W can find the individuals to reboot the company. Rencken got us to the commercial stage. We now need P5 and a bod with vision of at least 5 years out from here. I cannot see any other consideration that makes sense other than to cont with P4 in Europe which is a must imo, we need revs we cannot keep spending without earning!.......so P4+/P5/FDA/US sales simples!!! You mention you won't invest at this price, have you a target price? Bear in mind that come a (YES vote?) on Friday next the sp might perk up a bit with another 7 trading days after the EGM to delisting. Would have preferred delisting to follow the EGM close of business. I see no sense in prolonging this. Investors have had ample time to decide!

.....Entirely my point! Morning Del & anyone left on the ss Sphere. Semantics really which pis have cottoned on to. At the risk of being tedious would you as an investor, (private or fund manager) not want to invest in an device that is a paradigm shift in bga technology and possible 'game changer' for the business? The words of an eminent Professor and CEO Rencken. As far as I know the device works, is liked by those who have used it and hospitals cont to evaluate Proxima etc....and clearly has a future even if sales are slow to date. Well if we are to believe the bod apparantly not.......yet they seek funds to progress P4-5 and seek entry into the $ BN US Healthcare system. If W&E & small pis can see the advantages of that strategy (last ditch attempt?) how come nobody else has? The private Co argument does not wash with me for we know many funds invest in private start-ups, they did with Sphere. Edwards Life Sciences in 2010 (£2m) Sagentia & Siemens TA GmbH for instance were early stake holders and fund raisers. So why have most of our iis fled the Co given that their stakes in Sphere would be a tiny % of their overall portfolios and might well have stakes in other small private companies? I'll draw my own conclusion on that one!....Perhaps that's it they could afford to take losses against tax or (other dodges) and had no interest in seeing Sphere fulfill it's potential. That might prove a very very expensive mistake and cutting losses now and foregoing any compounding in years to come, have cut and run. So be it. Whatever we may think of WxE they have stood by us (so far) unlike the other rats, frantically swimming ashore. I hope the tides turn and they are washed out to sea.

Don't think one can compare our present status as anything like Sphere at the IPO stage. That was an outright gamble which unravelled badly for early investors. For sure Sphere is a risk now but way less than 6 years ago and strangely enough we might well be better off in a private environment away from the scrutiny of the public arena. Rewards are tangible. Could you say that in 2011/12? Would we be in this pickle if a Placing and OO of 3-4 had been offered? I don't think so. Woodford got what he wanted. That lame ass excuse that money was not available from the markets is imo a load of hogwash. What happened to those who expressed an interest in Sphere 8 wks ago? Why the sudden change of mind? A bit of arm twisting from you know who? The bod had ample opportunity to invest massively in Sphere at all prices down to 6 instead they steadfastly refused to back Proxima and with c1% of the shares became an irrelevance. Serve them right. I was ******** about this year's ago. They should have matched Woodford share for share even if it meant borrowing. At least they might have been able to stand up to him! Now they will unceremoniously be shown the door handing W the Co on a plate.

Yea..... they state the level of operations will reduce by 35%, i expect that means sales of P4 and our Direct Sales force may be on the way out. Cash usage by 40% presumably that means staff, wages & promotions etc...I would have thought data from P4 would be vital in progressing P5 & FDA approval? Perhaps out Italian & Spanish distributors will fill the gap. If we are abandoning or drastically reducing P4 for 5 pray it's not another 3 years to be fit for purpose. We had little say in matters as a public quoted Co now even less so under Lord W. Maybe that's a good thing for both parties! Learning to live with the fait accomplis is going to take some doing as essentially we are sleeping investors whom and I'm guessing here Lord W wanted burned out. He might be surprised at the nos wishing to go private. Over 400 deals have been executed since the crash for sure a lot will be flipped by short term punters and the 'out at any price' holders but orthers might push the final total come last dealings to Lord W having 300+ sleeping partners as bed mates.