Member Info for JohnLewis79

No trades shown on lse?

It sure makes sense...some near doubling their money in a day!

EGM on 8/9 when result of vote will be announced and if the majority vote yes, last day of dealings in Sphere will be on the 19/9 one month short of 6 years since listing.

Sphere being de-listed shortly it might be worthwhile (for those lth who decided to stay) to have some type of forum for us to keep in touch Not being a techie type I don't know how this can be arranged....indeed even if anyone's interested? Pretty sure the S.LONDON inv are up for it. Any thoughts?

Star fund Manager Woodford was one of the days bigest casualties as he saw two of his picks (AA & Allied Minds) slump 11p & 23p respectively.....no mention of his other disaster! Strange the Press normally glory in 90% collapses. Could be they never heard of us!

.....Morning Del...good to see you back! Yup for sure there's lots of quick turn merchants in here...was to be expected. Might keep the MM's on their toes but I'm all but tapped out. I at least managed to clear my bank debts ( i could see them coming to snatch my stock) which took priority over Sphere. Look for a better day now investors have got over the shock?

I have just noted the warrants are only available to those buying the PCS (min invstmt of £5K) up to 4th, Oct. That's me out! That might put off a lot of pis who have been decimated here! Maybe that's the strategy? Wouldn't surprise me.

Cellis take your point re staffing etc..but to be honest I think W will want to keep the Co as is...apart from some senior management changes! Paramount is getting P off the ground and for this we need another distributor and fast as well as keeping our base in Wales (was that not part of the OO agreement with the Wales fund?) we don't want to issp of Evans at this stage! I'm sure W envisages pruning where he can but leave the bare bones so in due course Sphere will be ready made to list again at a much higher value than current. This may well take 5 years, who knows but it's the only way forward for long sufferers who believe in Proxima as a device that might eventually be a money-spinner. The catastrophic tanking of the sp is yer usual mrkt over reaction mainly due to the funding delays and shock of de-listing. You noted that Rencken did not update us on any new sales etc.. or give any indication of further progress. I found that odd! Perhaps there was none I don't know, Sphere sticking to the never explain, never... routine. After yesterday's frenetic trading (for Sphere that is) today might see some sense return to the mrkts view of our prospects which to all intent and purposes we are bust. We fell off the tipping point of 6 we won't be seeing that again and the climb back to restore ones faith in those running the Co will be long and hard if not impossible. Rencken needs to consider his position for his abject failure during his tenure of CEO. Regardless of that I agree Del it's bazaar one can buy at 1.20- ish yet the cum prefers are 2.88 I mean I know what I'd do. The warrants attached look a fair proposition which I might subscribe to come all the proxy forms etc..I don't know whether Sphere is a riskier bet today than a week ago we might have the funding (dependant on the vote) possibly it is but outside of the lack of iis interest in backing Sphere (a big worry that) and tbh I don't buy it for surely SVB could have drummed up some big Pharma iis to finance us? There might just be a clue there!! The choice remains slightly clouded but I don't fancy the "highway" am going to have to trust that W can get us back on track as a private Co and then who knows we might just come out smiling?

Cash usage is being slashed by c £200k a month immediately making annual operating costs of c £3.6m. Doubt the bod partook in this necessary action. So those pis who intend to stay with Sphere need to know that come 2018 if P sales are sluggish they will be asked to put their hands in their pockets again. I reckon that's a racing certainty but wtfdik? If the nos are correct 174 deals took place today, the last buy price 1.20. If you were a buyer today, will you support the fund raise at 2.88?

That's another risk we have to be aware of there must be some protection for minority holders but like you rev I'm sceptical but atm feel it's worth me taking a gamble the other route is losing 99% for certain. Had my holding been in the £5-10k bracket I would have swallowed the loss. Can't be sure but I think Woodford's holding was at an avc of 13 so with the new round he's invested not far short of £10m and his investors (PCT) will not be best pleased if this goes T's Up! We must remember in all the doom and gloom, absolutely warranted I agree, Proxima is still a superb piece of kit which is only 8 months into its sales life. So hardly shown it's paces and as long as the bod have guaranteed a continuing supply of Proxima to all interested hospitals I think it deserves our support. Whether Rencken is the man for the job or not is for another day. Woodford will make that call.

Cellis the egm vote has not yet taken place so it's not a given that the resolution will be passed. I guess it will but I cannot be sure. Proxy forms for the vote will be posted to holders on 6/9/17 with the EGM on the 8/9. Besides Woodford & the Wales fund agreeing to support the funding several iis have signed letters of intent pledging a further 6.25m shares. Am I comforted by their support? Yes and No, like us they are over a barrel, obliged to partake and no they will follow Woodford's lead. As to dilution unless you can come up with £5k min for the 2.88 cum prefer shares/ warrants you will be diluted....as I was at 16 so to have an outside chance of rescuing something I'm prepared for that. Come to think of it will it matter much in a private setting? If the vote goes against the resolution we will be in a whole new ball game and as rev said Woodford will pick up the rotting carcass for next to nothing.. As I have lost 99% of my investment already what's another 1%? The upside from here now favours me given a fair wind or am I just kidding myself?

Afternoon cellis..well done for exiting. Today is a traumatic day for pis who have decided to swerve all the churning going on. I have decided to await more info before I decide what to do. Suffice I ain't selling at 1+! Could be a bad move of course but in my heart of hearts I didn't have the courage to take a huge loss (for me). Goodness knows how low this can go...poss 0.05 or less it's not worth contemplating! For the sake of £10m this could turn out to become a major scandal on Aim! Jeez what have our expensive independent board members... Schmidt, Vincent and Martyr been doing? Hugely influential in Europe running $m companies and yet stand aside and see the Co go down the toilet...for a pittance to keep us going for another 12 months? Cheers guys!

Bruce...Come sei il diavolo? You old dog! Trust your well and escaping crashes like here! Cannot remember the stock you refer to...but you know my history here, which I have written off to another... well you know... Our benefactor Mr Woodford no longer seems like the backstop we thought. No use in going over past history here. I kept a few Spo for old times sake but not worth talking about. Be lucky and avoid start-ups like the plague! Regards JL.

Agreed very strange that the bod cannot raise a measly £5-10m. Could be investors see no future for the Co and are sitting on their hands...he'll who knows. Whatever this smells rotten this smells of collusion...jeez I don't want to wind myself up anymore than I am already. Definitely badly handled but whadda expect from this Co?

I don't think there is one ounce of trust in Rencken & his merry men or in crash test Woodford.

HL are awaiting official notification from Sphere....will then notify holders on options! Thanks a bunch!

Well Woodford & the Wales fund are not allowed to vote under the 'whitewash' so anything could happen as it's then down to one man one vote...as I understand it...

If holders reject then it's most likely insolvency follows....

I have given up trying to call this stock as I have been spectacularly wrong for many a year. This was my last roll of the dice and i have crapped out! Most likely will stay put on the off chance I can recover something from the wreckage here. Must admit I'm not very bullish but whats a poor boy to do?

Lots of buys going in now!