Member Info for justdeezerts

Simon Thompson changes his mind - what a difference 5 months makes!

Is he right this time around, or was he wrong last Feb - only time will tell.

Nothing has really changed since Feb 23 (except a prudent saving of cash) previously earmarked for dividends...

https://www.investorschronicle.co.uk/ideas/2023/02/20/a-sell-off-that-s-been-overdone/

GLA

Don’t understand these continual postings sending us to obscure websites selling our products (in small quantities). We know they have a multitude of applications, so there is little elation when another one is discovered.

What we really need is a company announcement(s) disclosing a major trading deal(s) of serious value.

Unfortunately, JS has already inferred that we have a customer base comprising mainly private companies, but no big corporation, which would provide ITX with immediate accelerated growth towards that elusive break even position and on to that subsequent pot of gold called profitability.

Good summary AJP, but really ..... JS's manner in dealing with investors' questions was pretty awful (constant hesitation and misreading their questions from an autocue etc..)

On a number of occasions, he could barely read out the questions, which he was then attempting to answer.

I just don't get why he thinks he is the best person to head these presentations - it was very uncomfortable watching his stumbling performance.

Another glaring omission in the presentation, was any reference to the words 'profitability', or 'break even'. When asked to comment on those two important factors, he simply suggested that investors refer to the two analysts' reports which 'have it about right!"

Why HE wouldn't / couldn't give out that information in person is beyond me and gives the impression that he's not interested in shareholder value.

Indeed, at one stage (when asked about the current share price) he was completely dismissive of the subject.

I continue to heavily invest here and I hope that the £10m of new funds are not going to be dissipated in supporting future trading losses.

We have 14 much-valued patents in our portfolio, so why can't we simply stop using these funds to develop new formulations and just concentrate on generating profits from our existing product range.

Hopefully the next TU in July will provide us with some answers and further progress.

GLA

a lot of nervous investors selling up ahead of today's presentation - it's become a bit of a tradition @ itx.

let's hope there are some new revelations, rather than a repetition of stuff we already know... (perhaps as to how the new capital is going be appropriated!!)

js has had plenty of time to rehe**** for this one. as we lths know, he's not the greatest presenter. so let's hope he delivers a smoother and more confident presentation than those of the recent past.

fingers x'd......

Reasonably OK, IMHO.

However in the hall-year's RNS (Sept 22) JS firmly stated:

"The Company remains on course to deliver full year 2022 revenues ahead of current market expectations based on progress in commercial volumes and success in passing on increases in direct costs.

My analysis (below) suggests we did not meet 'current market expectations'. Of course, using that phrase is a bit of a cop-out, unless JS informs us what 'market expectations' actually were.

Revenues for H1 were $3,057k, so H2 must have been $2,543k - and that is a 15% decrease from H1, which I very much doubt was what JS had in mind last September.

However on the plus side, GP margins in H2 were 28.55%, which was a definite improvement on H1's margin of 24.89%

Also I agree that with only 25 days to the end of H1 this year, a lack of any reference to current trading today's RNS is extremely disappointing. Let's hope tomorrow's presentation puts that right!

GLA.

Last year RNS on update was 22 April 2022.
It is now, 25 April 2023 and all the Board can do is to announce new Joint Brokers!
No wonder the sellers are here today....
Total disrespect being shown to shareholders, IMHO.
However, we live in hope that someone @ ITX, or perhaps its brokers , are keeping an eye on this BB.
GLA

Warren - I agree with your sentiments, totally
Investors here need to assess whether this Board has the enthusiasm to drive this company forward as an exciting profitable business, or is it just using shareholders' funds to further its scientific research, as commendable as that may be to save the planet.
I think we are all a bit fed up with no news, no trading updates etc..
As a significant long-term shareholder, I have given JS & Co the benefit of the doubt on his strategy here.
However, for me, the next trading update will be crucial to see which direction ITX appears to be heading..
GLA

It was always non-sensical as to why the SP would have dropped so alarmingly in recent months.
So, is this the start of a concerted reassessment by true investors, rather than remaining an arena for transient day traders to operate?
Whether it's a Tory, or Labour Government in power, the NHS will always require private sector co-operation.
All unprofitable contracts currently with private sector companies have to come to an end, eventually. New profitable ones will replace them for sure.
Long term, if TLY continue to provide services which are required, then anticipated profit margins will return.
Keep the faith!
GLA

Check this out from today on CNN:
https://edition.cnn.com/travel/article/seaweed-sargassum-florida-caribbean-scn/index.html

A 5,000 sq. mile blob of seaweed heading from the Caribbean to the Florida Gulf Coast. It's causing havoc to sea life and de-oxygenating to oceans, something which ITX products are trying to arrest...
GLA

"The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage."
GLA

Bubs49 - I'm still here and extremely optimistic.
"Price is what you pay, value is what you get". (Warren Buffett)
Long term prospects remain good. Compare TLY with your recommendation to buy SBTX @ 66p a couple of years ago and now standing at 20p with no money, no profit and no hope.
GLA @ TLY

Missed the live performance, but seen the replay.
Indeed exciting times ahead. Got worried when JS started off talking about 10 million DOLLARS of fund-raising, before realising it was in POUNDS. These little things are irritating, to say the least, and shows lack of preparation (IMHO)....
Unfortunately, JS is extremely frustrating to listen to (Peter was better), as he doesn't rehe**** before presenting. It's simply not one of his skills - I wouldn't want him summing up my case, when trying to convince a jury of my innocence!!!
Also, he still glosses over any timeline, as to when the Company is likely to convert its wonderful opportunities into cash-generating profitability.
It can't be healthy to keep on seeking funds to create new products - surely we should be focussing on producing profit from existing products and ploughing some of those profits back into development of new products.
Sorry if I keep banging on about profits rather revenues, but I do so because I firmly believe that we will only get re-rated as a formidable force in global bio-products, when the market is convinced that we are a PROFITABLE long-term commercial enterprise.
GLA.

A good by-product from the RNS is that the day traders will probably move on, as there's not much margin to trade with @ ITX.
With the SP almost underpinned @ 5.1p and no anticipated TU until late Apr 23, why would day traders waste their time here dealing in scraps?
Sellers now will be those investors who don't have the same long-term perception, as those who wish to remain.
Their loss - IMHO........
GLA

Smart - I agree entirely with your latest post. Amid the euphoria of the successful placing, we must not ignore the trading results for H2 in 2022, which frankly, are not great, as they show no improvement on the first half year.
Personally, I don't understand the comment that the revenues of $5.6m are "ahead of market expectations". Firstly, we are not given the figure defining 'market expectations', so it is a subjective expectation. Secondly, $5.6m revenue in H2, means that H2 revenues will be $2.6m (a 10 per cent decrease on H1).
Also, H1 EBITDA was a loss of $640k. So, with 2021 EBITDA being a loss of $1.6m and 2022 EBITDA "being an improvement on 2021, that means an H2 loss in 2022 of around £1m, which would be a 50 per cent of losses on those incurred in H1 of 2022.

Whilst I acknowledge that once again, we are promised jam tomorrow, I am confident that, with the new Board appointees, JS is getting the right personnel around him to take this company to a higher and successful level.
GLA

....to finish my point:
I was suitably impressed with the fundraising at no discount to the current SP. That says a lot for the passionate assurances given by JS and his Board in order to raise this much money at this stage in the Company's development - well done him!
Once the share consolidation is out of the way, we can look forward to an exciting ride with a product range ideal for the 21st century.
GLA

Molson - I would add that potential US investors would want to see unencumbered cash in the bank, rather than borrowings secured on highly valuable intellectual property.
I was suitably impressed with the fundraising at no discount to the current SP. That says a lot for the passionate assurances given to of JS and his Board

The strange thing here is that many companies give a future date, when the TU is going to be released.
Nothing from JS on that point. And no guidance from ITX’s Company Broker. Definitely run like JS’s private fiefdom.
He shows no real concern about other shareholders ‘ interests , unfortunately .

DYOR

I think this BB has been invaded by kids!
Radium, are you a grown up? Sending this ridiculous missive about TRMR angry investors holding a 10-year grudge - how childish?
Are you really serious, or is it just that you've seen too many showings of West Side Story.
Do you really think that someone like you, who is uninvested in TLY can really influence the minds of serious-minded investors here?
So what exactly is your endgame, here? You aren't really trying to panic investors into selling shares. Surely you would like them / us to keep them as long as we can and watch us go down with the ship?
I really don't understand why you comment here! In the meantime, I'm tremoring in anticipation of your next response - sorry Radium - couldn't resist it!!!

Or could you? My PURCHASE of 15,000 shares @ 25.09p was marked down as a Sale. They just look at the transaction price and hazard a guess as to whether it’s a Buy, or a Sell.
Worryingly pathetic for a professional BB.
DYOR and GLA

Radium:
Look carefully!!! - I was addressing moniman. But if you're taking it personally, perhaps you and moniman are the same person?