Member Info for JohnLewis79

Morning Del...I take it you mean the £€ exch rate as you have voted YES? I don't follow the € so I take it your getting less pounds?

I guess invstrs who stay and have bght in the market pre CPS offer must consider this. Just as an example a holder with 200k at avc of say 15p= total £30.O00.00. He buys in the market 200k @ 1 so his total outlay would be £32.000.00 on 400k shares an avc of 8.00p. Still a big up from current and the 2.822 . The question then is do you think your shares will be worth more than 8 (given dilution) if Sphere ever returned to the mrkts? That's difficult to answer given what we presently know but essentially we are being asked this very question. My gut feeling is yes as long as the equity base is not in the order of a billion shares outstanding.

I'm not sure what difference it makes being part of WPCT. I'd have thought W would want to re-list Sphere as soon as practically possible so as to recoup his investment and with a profit. That is not a given. Three to five years from now Sphere could be an entirely different animal as rev alluded to a few posts ago! That's the risk we take. Given my hamstrung position I'm prepared to do so for surely we are better off pre the IPO in that we are at least selling a viable device which back in the day was only a vision with little to reccommend it given the regulatory hurdles to overcome. I'm still very very surprised that W & SVB could not attract any new investors particularly from the US as that's where he sees our salvation and who knows a listing on the OTC or NASDQ exchanges in 5 years. That was a big shock for me. There could be reasons for that which we are unaware of. Whatever, concerns for lth is the 'vote', deciding whether to stay and whether to pay up £5000 for the 8% PCS/ Warrants (the second whitewash) to raise £3m. That is beyond my means. Assuming the 'second whitewash' is a bust we could stagger on for 12-16 months on a slimmed down Sphere, much will depend on how soon P5 can get US approvals. It certainly looks like another raise in 2019 if £3m is not raised via the '2 whitewash' and Proxima is not selling as hoped for in Europe. We cannot sell into the US atm, so W must get sales going here to at least cover operational costs while lactate and P5 are progressing. I fully expect there to be board changes tba at the EGM that's the least I expect given Rencken has taken us to the brink of disaster.

Ok..no poxy form as yet.

Still waiting my forms from HL...Cannot find the 75% requirement to carry the vote. I thought it was by a 'simple" majority?

Hence I have swerved the CPS / Warrants...way too much uncertainty. If your staying via loading up on the Ords or going for the 2.822 options somewhere along the line you will have to trust W to do the right thing by all classes of holders. He needs this to be a winner and a big winner to show the market he's not just an AZN & Glaxo man. Forget the sp it's being hugely manipulated lower to suit W. Of course better to buy at 1/2p than current purely on a dilution basis. Imo these shares are untradeable and have zero intrinsic value. Punting them is very high risk as W probably wants a No vote taking Sphere into administration and scooping up the assets for nothing. Gullible pis will fold without a murmur. Not sure about the legalities of such a move as he's bound by the 'whitewash' agreement so the ball is very much in pis favour to vote YES. No sure what % pis have to scoop up to ensure a YES vote? Could be 20m plus? Will W sell to ensure that pis cannot get the required amount come the vote? Probably not. Even he must think that P has a chance to become a profitable device so best encourage pis to back the resolution.... so a win win for all concerned. As cellis says we will no doubt be folded into one of his funds.

At the current price(s) this must be the 'come on' and buy me gambol of the....? That being so after a bit of readjustment to my port, i have added here as much as 80% of existing (you gotta considering the 8%) which will be absolutely my last investment....ever! So, if rev is right it's Rodeo Drive here I come!

I have dreamt exactly as you posted rev but always woke up with a bloody headache! The possibilities are endless for Sphere given a modicum of luck....and in the private sector where we're free of worrying about sentiment and a mrkt that disliked us from day one! I kinda feel a bit more bullish day by day but that's got me into trouble before...

rev your not being 'cruel to be kind' are you? heh heh heh!!

Rev your a card!...."whizz bang new dynamic Co backed by Silicon Valley with product on the market".....phew!!!!

Morning cellis. The reason I have never mentioned the specifics of my holding here is whether 1 share or 1 million I suffer in % terms equal to anybody else. My pain might be greater in cash terms but that's really not relevant imo. If your 97% down so am I that's all that counts. Sad to say. I read that analysts see the 'vote' being waived through well I'll take that with a pinch...from a bunch who had sp targets varying from 17-25!

It's one week since the bombshell Sphere dropped on unsuspecting holders. Most of us have had our say and probably come to terms with the fait accompli. The only independent....ish 'house' TD has yet to offer its opinion and I'm sure they did not see this coming or if they did only as an outside bet. I look forward to their update and any views on Sphere as a private Co post the vote/ EGM.

Cheers riddler...I'd price this up at no more than a 6/1 chance given the lack of available evidence to the contrary and that might be generous!

I think I'm coming to the end of years of waffle on this BB and have to say before I depart that I in no way blame Hendry, Renck, the hype, various crooked brokers who should have known better than us dim witted pis and anybody else in promoting this dud. I absolve the NHS who early on saw this as a pig in a poke probably the only sane one among all of us us. Del, rugs WB, CC, cellis, comeonvog, rev and South London investors (others whom I may have missed) who acted on my delusional backing of a Co that was doomed from almost day one. Luckily there were few on that score!... As the final curtain is being drawn on a once great tech advance in bga we should at least think that we gave it a go! Flippantly, some will say you gambled and lost. I never considered it was as black and white as that, preferring to loan my money to a small UK start up with an exciting healthcare innovative product. Despite warning bells' etc...I and others stayed true to the course. Desperate as it might seem atm the fat lady is still in the wings revving up through the scales for Act two!

Doubt they are presenting at baccn conference?....I think that's a given as Renck must have.been told to pack his voluminous bags of cash and get on his bike. Having bankrupted us his horizons are unlimited, fully expect him to pop up as Glaxo's next CEO..a just reward.... ******* W!!!!!!....Riddler WGAF about the iis? They look after no 1 only this time they are sharing our pain. No I'll rephrase that they are sharing our pain on behalf of their investors....Yea like uckf!!! Good afternoon everyone. I'm waiting for the vultures to descend on the rotting carcass of £70m of broken dreams. Don't want to sound like a sour puss but F Me!!

.....I'm guessing it's a long process? Too right a-2-b! The UK launch was in Sept 2014 followed by the European launch in March 2015 and P4 in Dec 2017. Rencken's strategy of using P3 as a loss leader hoping that by P4 (delayed) it would get us on the road to Damascus. That has failed as the good Samaritans did not cross over the road to lend a helping hand.. Assuming hospitals who have trialled P3/4 and are still interested and are assured that we can supply the device won't wash their hands of Sphere because of a little local difficulty? But you never know do you, when nobody but our two largest holders will back us the future is hardly rosy!

Don't beat yourself up volcano under the circumstances you mentioned I'd have bought at 20p and sold at 18! As to ideagen price is not what I'm paying and value is what I'm getting if that makes sense? I'm by the "short and curlies" elsewhere so frustratingly will have to watch from the sidelines!

Morning cc and other stalwarts!. A few thoughts on our position. Firstly the lack of enthusiasm particularly from the US where we are led to believe fund managers etc..are much less risk averse than their UK counterparts, maybe on this occasion...... see the road ahead as too long & difficult for a tiny device Co on a limited budget ever succeeding, if indeed the US becomes our main focus. If the lactate and auto version are ready by (end) 2018 why are we scaling down in Europe that seems odd. Have they said we're waiting for the auto version or is Brexit the reason. I guess we will never know. Some of this will apply to UK iis but obviously those iis mentioned by cc want nothing to do with a private scenario. Some fear playing second fiddle to W&E who will own c90% of the Co and a serf like existence under Lord W is out of the question. All your points of concerns are valid and have worried most of us I'm sure but not having sold at 1.60 (best?) which I wouldn't have done anyways and certainly not at 0.875 pushes me evermore into the remain camp..NO SPHEREXIT FOR ME!! me heh heh heh! I don't know how badly you lost cc but I'd imagine it hurt! So you may be in the fortunate pos of putting Sphere down to.. 'one of those'... and move on recouping elsewhere, in time. If not, your like me having to back W come what may to rescue something. I'm desperately trying to buy (find the cash) & only post 'vote' of course....... 40% (more if I can) (5yx8%) of my holding at current to lessen the dilution. That might be throwing good money after bad and a poor strategy. We shall see. Firstly can we get past 8/9? Secondly we have time t'ill last dealings (19/9) to decide. Thirdly will an opportunistic offer arrive? (0k I'm dreaming up that one).

Morning Del...Your in a much better position than i as *) your still earning & **) you have time on your side neither applicable to me. So I'm resigned to tying up my shares for the next 5 years in the hope that I will live long enough to realise a return or worst way my heirs might? I suppose the shares will be tradeable on a matched basis in year 3-5 if still private but at what price? Ideally Sphere will become the Co some of us envisaged 6 years ago, returning to the public markets at multiples of current value, sometime between now and 2022. No idea if that is a realistic assessment of our position today as facts & figures for P4+ (5) are now in purdah and how soon can Sphere have the latest version of P up, running & earning? As you said before Del.....its now very much a 'question of trust'. So do I trust W&E....Yes. Do I trust the 'new management' if any? We shall see.

I concur Del will do the same like you it's the best of a bad bunch of options. Major worry is dilution down the line if W has to keep putting in £5-10m and we're excluded from any raises the dilution effect could cripple us. Cellis alluded to this a few posts back. I guess to obviate the damage one best load up as much as you can now to lessen the pain later? The risk to that is the 'vote' going against the resolutions. One would hope holders are not in a suicidal mood and voting to survive another day should be uppermost in their minds.........but there's nowt so queer as folk, so it ain't a given! I'm still shell shocked at our current position which I never really believed i would see! Goodness knows if going private will be the answer to our prayers given there is no other palatable choice and nobody (so far) has shown any interest in buying Sphere,....it better be for all our sakes. One can take some comfort from W&E's continued support of P as device that will win out in the end.You could also think, he's more interested in protecting his investment! Potential bidders must be looking on with interest and surely P now valued at next to nothing is looking evermore like a gift horse in the mouth (be grateful) and too hard to refuse? I can make no sense of our mrkt cap of c £1m+. We would not have to sell many sensors to earn that money back, so step forward Mr Supersalesman.. cometh the hour cometh the man!