Member Info for JohnLewis79

Further funding might be conditional on board changes, Rencken yanked up before Headmaster Woodford? I doubt that. We sure as hell don't want any bod changes at this stage of the preceedings....unless Rencks strategy has failed completely. The cancellation of the Shares presentation with no reason given, followed by the woeful RNS (which Woodford must have ok'd) & it all adds up to a Co running out of control at worst or at best not on top of things. A month ago Del calculated we had enough cash to see us through to Sept if memory serves me right? So where has all the cash gone? Whatever if the bod are keen on securing additional funds so be it. We will need it eventually. Sometimes things just don't work out the way you expect them to, its kinda the 'law of sods' effect. So it pains me to say this but the big leagues could be beyond us as another home grown tech Co that promised much falls at the last hurdle. A view shared by many pis. I'm still in the other camp. Proxima is too small to fail. We will get funded. That melting snowball needs a kick start. Good news is around the corner......maybe?

On the face of it LGO-fan I agree with much of what you say but the board are hamstrung by archaic operating systems of the NHS particularly the purchasing of any new device (volumes written on the BB by many) which now exceed 9 months (last rns). Given those constraints what can the bod do? We have approached 55 hospitals and demonstrated to 38 up from 40 & 30 so going the right way if not as fast as we would like. Remember we are a tiny co not Glaxo or AZ with limited funds and sales people covering a massive territory. We cannot throw 100 sales guys at the problem. A big distributor is crucial and long overdue for Ger, Belg & Netherlands. Austria has one so I assume that's B&B. It's very frustrating but this won't go on for ever so more patience is required. I remind you that Rencken was appointed precisely because he has a track record of successfully taking a device Co to market. We should judge him at the year end. Surely he's entitled to that?

Total value of trades (b+s) total only c £11.6k. It's not the end of the world and the sky has not fallen in. Just MM's having a tree shake the're more than happy to scare away twitchy holders. If there was a hitch or worse to the funding we'd be suspended and I'd have tossed my certs in. For all we know talks are on going......as per everything with this Co it takes bloody ages to get anything done. Sell up or wait for the news that's the only choice you have other than add of course!..

Too late LGO-fan...we're stuck with the devil we know.

Value of trades c £6300! The Barrow boys won't accommodate sellers.... however as a holder I'm only too aware there's many a slip between cup' n getting funded. If you believe in the products long term viability and we will get the funds to see us through next 12 months then this is an excellent entry point. As ever much needs to fall in line for Sphere but heh! One can say that for most stocks. Well certainly the ones carrying my cash.

Sub 6 coming up...

Up and running in Sphere....wait for first trade for confirmation.

US markets cont on their record breaking run with the much watched 'Vix' (fear index) at almost the lowest level since inception back in early '90s. Ftse set for good start (+25) after gains in overseas markets. Pity the overall bullish sentiment of markets these last 5 years has never impacted on little ol' Sphere. Bet your life had the markets tended down over that period Sphere would be sub 1p. Such is our lot in tiddly stocks we suffer the slings and arrows never the popping of champagne corks and cucumber sarnies on the lawns of Trinity College Cambridge.

Pity no Rns this morning re funding. I had hoped for one to take the bad taste away from the MAB Rns! Feel we will know by wks close but above current sp.....that I sincerely doubt. I remember Zam got one away at a decent % higher than the sp at the time but you never know in an auction process....just watch bargain hunt!

I'd like to see an 'active' US fund take a decent holding in Sphere. I often think our UK iis are way too passive and let boards get away with poor performances. US funds are much more on the ball and are on the managements back if the co is underperforming. I cannot be sure but Woodford has allowed to let things drift imo. I have no evidence for that statement and behind the scenes he may have been on Rencken's case a lot more than we know. Nevertheless between him and Evans they could easily have effected change had they wished to do so.

Yea quite right Del I had not factored in the poss enlarged issue to keep his %. Good spot. As to the rest I really don't know anymore but pray the ball bounces kindly for us.

Wonder whether any bottom feeders latch on to Sphere's latest give-away stock price? Might get some at low 7's tomorrow hoping we do not get too heavilly diluted...heh heh heh! Woodford touted as a poss subscriber, which would take him over 30%. No doubt AIM rules will be waived to accommodate him should he wish. Personally I don't think he or Evans will be adding. I see the hand of SVB all over this most likely via private equity or certainly from US fund(s) who will extract very good terms, afterall were holding out the begging bowl! We need this sorted....yesterday any further delay in announcing that funds have/not been secured will send the stock sub 5 for sure. Even TD will not place a valuation on the Co saying it's under review. Odds on we will get the cash which I fear will be penurious, by that I mean they will not be generous to us. If we include what we may raise shortly borrowings must be nudging £70m+ if you inc pre IPO raises. I bet Dr Hendry never in his wildest dreams envisaged those sums being required back pre P3 days. Late comers like myself have been chasing moonbeams ever since. The odds do not favour a positive outcome whether you base this on new hospital nos or connections to P4 or anything else you care to name, time and 'events' could finish us off for good. It's very cloudy out there what with Brexit etc to add to the mix. I'm sure we're all up to speed on the risks we face and are now depending on the bod producing rabbits out of hats and other prodigious feats of conjuring to keep us afloat. Can arch prestigitator Rencken face down the odds?

So new investors to be 'unveiled' shortly and Sphere's coffers refilled once again. Have to hand it to Rencks he's being a damn sight more persuasive to the iis than he ever was to pis! How is he selling this to new investors? Is it magic? Is he pulling a fast one?...the old find the lady 3 card trick? Goodness me! What is persuading a bunch of clever clogs (one must assume cleverer than you and i) to part with their money? Are they privy to info not available to pis, for we know as much about P4 as they do... at least the basics of the device. Any new investor having seen the sp performance these last couple of years would have to be pretty damn sure he wasn't investing in a Co on its last legs. Those assurances can only be, that they have seen the order pipeline and internal forecasts and are looking better than 6 months ago. Anything less than that and it's a 'no show' mate! I would walk as you would! Let's see who they are and how much they are risking. A cynic might say at sub 6 not a lot and a mill or two in today's markets is peanuts/ throwaway cash....maybe? The last raise at 16 remember that beauty, didn't work out very well did it? This one better had for we are now in the 'last chance saloon' Doc had aces and eights and came to a sticky end so I'd want to be sitting with 'threes' min. I'll lay you Rencks has dealt the iis a full house! He better had.

I'm sure Sphere would have wanted the news of a possible placement of new shares to have been made in a 'tidier' fashion and not forced upon them by the action of an individual(s) who precipitated the Rns. Under MAB rules they had no option but why bother with news of hospitals/distributors/sensor flow etc...most of which contained nothing knew to us from prev Rns's. Be that as it may this badly handled Rns has caused a 15% fall in the sp when under differing circumstances it might actually have risen. Since Thursday what has materially changed for the Co? Nothing at all. We knew about the cash raise if not the specifics all the other hurriedly cobbled together non news was out in the open and here we are at under 7. Was it deserved? Probably not.....(unless planned of course) so we await the terms and who the 'new investors' willing to participate in the 4th funding round which will be done'n dusted in a day. As to an OO I don't think there is much appetite from pis on that score, most I should imagine are thoroughly fed up with this Co and sentiment among holders I have spoken to of a combined mill + is truly awful. They can stuff an OO where the sun don't shine as far as I'm concerned! Give the 'Eton' boys more cheap shares, see if I care.... We make a step forward and boom two back all so pointless. Oh well c'est la vie. WK (29) last saw B&B appointed distributor for Italy the stock closed at 8.875 on 312k vol (13) bargains and cellis's mate Snedeker won the Canadian Open, my guy out of the money...no change there! With cellis departing & WB long missing, I will have no cause to witter on about gambling...might change my luck heh heh heh...so that's it from me and a very good morning to the few remaining die hards on this BB.

I have both feet in the dog poo here! Had my avc been around 10 I might have reduced. As you say it's a high risk share now....no very high risk to be dependent on cash strapped hospitals. In time this will change and may not be a problem in most European countries? Only 11 trades and c 135k vol hardly warrants a 15% tanking.... so this has been staged managed imo to facilitate a placing around 5. At the IPO we issued c 30m shares so come the placing potentially shares outstanding could be 300m! I didn't invest in this Co to be swamped by millions of bloody shares. Try making the nos against that backdrop. I really ought to go out for a drink but had a session on the Doombar at lunch so feel a tad fragile. Yup always sad to see a lth jack in his stock, you never know he might be back when we hit 5!! Have a good wk/end all....

.....and fall in the sp!

Yea I get the placement aspect DB so I suppose somebody got wind of it and may have acted/passed on the info....naughty naughty. Blimey wouldn't be the first time would it? That's if I'm reading it correctly hence the rns?

Well I did read the addendum to the rns but tbh I was so hacked off with the former I didn't take it in. What is the significance if any?

That's what happens (-15%) when you release an unnecessary and poorly worded rns which contains nothing new of interest. A cynic such as self might almost think it was so designed. Someone wants this lower. I wonder who?

Which substantiates my worry that by the time this ever gets off the ground that little Japanese bloke in a Tokyo back St will have invented a better, cheaper and easier to use device. It's in the stars, runes, sods law that this will happen. Do you want to be holding then?