Member Info for Juxtaposition

Valuation ratios show the stock is expensive relative to fundamentals (source simply wall street) - price to book ratio is 88.1 versus peer average 4.7 and industry average 2.6. IMM is valued currently at around 18 x more expensive than their peers. Scary. Value is almost certainly speculative rather than intrinsic ( think we all know that) and the single asset risk makes the high valuation even more fragile. The company’s future rests almost entirely on Lupuzor, its lead lupus candidate. Failure of this single asset would be “catastrophic” for the company [source - koalagains]. This severely limits how much fundamental value can currently be justified. Balls of steel to stay in this overpriced and overvalued basket case. Versus industry peers, the market cap should be 1/18th of the current SP which is around one quarter of a penny. A long way for this to drop yet. (sources provided, not my figures or valuation)

AI - that full ask purchase was for £100. May not be enough to light the blue touch paper just yet.

I always have a chuckle at Alex Snowden's posts. So deadly serious and yet they comprise barely concealed limp indignation. A great read.

I'm not complaining Che7win - i'm merely setting out probabilities. You state the price is 'stupidly low' ... what is your benchmark for that statement? If 4.7p is stupid, then you had better make up another phrase for 2p.

CHe7win, generally when AIM companies get in to bed with Lanstead, there is one main winner. Lanstead. There is generally one loser. Private Investors. This bears out 99% of the time. IMM might be the 1/100 shot, but Lanstead on all bulletin boards usually end up in the same sentence as 'death spiral'. However you spin it IMM had gone cap in hand as they have no income and need to pay Tim's salary and electricity bills. As a reminder, Tim was paid a £294,000 salary in FY24 (accounts expected to be published in May for Fy25). £294,000.. and that was with no bonus. I wonder what he'll pull for Fy25. He's as happy as a pig in sh*t with this latest round of fund raise.

So much short termism on this board. Traders of course are watching intra day / hour / minutes, but if you are not a trader this is a slow burner through construction phase in to operations and then income and then dividends (potentially). I'm ignoring the noise, holding and waiting for gold, literally.

A 19.4% dilution confirmed today, not so long after the company had stated the cash runway was good in to Q4 26. That is a low blow and a further erosion of confidence. If Lanstead cash in their 70m chips at 2p then that takes the dilution overall ot a smidge under 25%. Given trading volumes barely broke 100 a day prior to the updates last week, that would take some time to churn. I think the board need to answer wtf is going on type questions....

The paltry volume post show and tell is most telling. The presentation has made no impression whatsoever on the market. The market is nobody's fool.

A very muted response by the market. I'm sure Tim was hoping for 6p after the latest show and tell. Still way below placing and the book has hardly taken off. Terrible outcome if he cant boost it back to 6p. Where does IMM go from here in the short term.

Nothing dramatic in the book. A few new buy orders at 4.7p and 4.71p placed at 12:35, but thats it. Unless there is a revelation, impact on sp looks limited.

I've only held Kefi for around 3 months and know from reading this board its been a painful and brutal journey to get to this point. Now though, this surely has to be one that is a med/long term hold as the build out and move towards production gets underway. A 10% intra-day drop, whilst sh*t, is not something I'm fretting over as I intend to hold through to production and (whisper it) dividends should it ever come to that. The fund raise is a cheaper way for the company to close the small financing gap than debt.

The spin will be out of control tomorrow. It will be convincing and carefully crafted. The evidence before us suggests don’t be fooled. However I expect to see a few empty ‘just topped up ‘statements on the BB to try and entice more people to part with their hard earned.

I think we can all rely on Tim putting on a super show tomorrow. He’ll reason everything out and everyone will buy it and be happy again. Everything that has happened this week will sound so plausible. I too expect gains tomorrow in the price.

Valid points pokerchip, but also in the mix is that 'investors' were pretty much told a deal in relation to the company's proclaimed wonder asset P140 would be secured before end of 2025. This was from the CEO. Since then there has been backtracking on dates and then a raise when it was strongly suggested one was not need for another 7/8/9 months. So yes, there is a risk, but the company cannot be absolved of blame for the predicament of many shareholders in the way you state.

Pokerchips - it is well document on this board, I sold out at just under 11p for a 3.5x bag. I certainly did not sit on my hands. I have been waiting for 3.5p since then to buy back in and be in position for the next spike. It's getting closer.

Nolupus - everything you say is factually correct, but there is more to what drives price movement - in particular perception is reality. Thats key (and then throw in the other soft factors such as sentiment, broken trust, broken promises, delays, smoke and mirrors etc). With this company, these factors currently carry more weighting than the 'facts'

Does the new timeline (Q4 2028) suggest that is how long is needed to bring the 'asset' to a stage where there is something tangible for a buyer / partner to make the deal? Lets not forget also that there isnt even a patent in place yet - merely an application. Such an over sell by the company.

Shocking 20% dilution yesterday _ the coup de grace may still to be delivered. Lanstead exercise their 70m 2p warrants and bang, another whopping 10% dilution of the enlarged shares in issue total. A 30% destruction. (It’s actually slightly worse as pre-yesterday Lanstead warrants were a 12.5% dilution. ). Shareholder value destroyed.

Has anyone rushed to buy the retail share offer at 6.0p? Time is running out - only have until Friday. Tiger is correct re the BoD. What is going on and why do they need another £7.5m?

Scrodingerscat provides good balance and insight as usual....... - "f a deal was going to be made. Occam's razor suggest that the board are not 100% confident in securing a deal for P140 that's the only reason this raise makes sense" Why raise if billions of £ will flow in shortly from a deal.