Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Gave up trying to get a reply looooooong ago my friend! Numerous phone calls and emails ignored unfortunately. I normally wouldn't even bother, but given that a previosu RNS discussed approval dates quite explicitly, I do feel that we should've been kept more in the loop.
Trying calling and emailing multiple times regarding this very question but no answer unfortunately. I should the recent equity easing might have been in preparation for a Redleg USA launch, but who knows...
Financial year end is tomorrow, bearing in mind auditors will need to sign off etc I wouldn't expect them until the end of March at the earliest. Maybe that's too optimistic in reality. Would be good to get some further information on what the recently raised funds will be used for as well as some clarification on US Redleg approval.
I'm delighted with this. Having an institutional investor on board is huge. Reading between the lines I do wonder if DG is hinting at the US approval of Redleg Rum is all but a formality, "Following on from the success of brands created and developed by the Company, in particular RedLeg Spiced Rum, we are delighted that the Placing proceeds will allow us to increase our marketing efforts and to open up new markets. We will continue our focus on creating shareholder value through the development and creation of successful fully owned brands, both in domestic and international markets. We are also delighted to have expanded our institutional shareholder base with the addition of Miton UK Microcap Trust and remain very grateful to our existing shareholders for their continued support. We are also delighted that the Placing has been completed at a premium to the Pre-Placing Price as we feel this reflects the belief the Placees have in the Company's growth plans. We remain confident for the fourth quarter of the financial year and expect full year performance to be in line with the Board's expectations." Mentioning 'opening up new markets' and 'creating successful and fully owned brands......in international markets' suggests to me that we may have been granted some form of approval for the US launch of Redleg.
Unfortunately not. I've tried calling and emailing the company multiple times to establish why it's taking longer than expected but haven't had an answer. To be perfectly honest I not anticipate it not happenning at all. Could really have done with some more news on it during the last RNS than the "we will try harder" response they provided.
It's funny really, on the back of what looks to be very impressive Q3 performance the share price has now fallen back to pre-RNS levels. I would expect Q4 year on year revenues to increase by even more on a percentage basis given the fact that we'll be in Tesco with Blackwoods and Redleg for the full period. Bit longer to wait but I don't doubt we'll get there.
I think the current situation is that they are still awaiting TTB approval, but didn't expect the delay to affect the launch of the product this year. My worry is that with approval originally expected by the end of September 2015, and as far as I'm aware not having been granted as of yet, we may fall short of the planned launch date. We should have a clearer picture at the next update.
I think we'll see and update before the end of the month regarding Christmas trading, hopefully confirming monthly breakeven has been met. I'm a bit concerned about the lack of news about US Redleg approval though, as going by the company's own timeline it should have happened long ago.
I think breakeven will be achieved with the next update. If it comes with confirmation of US approval of Redleg we will see a serious increase in the SP. I don't think the price level of approx 0.9p will be maintained for much longer.
In case anyone is interested, Redleg is being discounted as part of Amazon's Black Friday sale. The deal starts at 11:30am. http://www.amazon.co.uk/gp/product/B009A8DI84/ref=gb1h_img_m-4_5847_20847911?pf_rd_m=A3P5ROKL5A1OLE&pf_rd_t=101&pf_rd_s=merchandised-search-4&pf_rd_r=1KYBKKFW9DTHHCQQQSCP&pf_rd_i=161428031&pf_rd_p=765395847
Patience my friend! I do agree that we are currently undervalued, but there is positive news in the pipeline with the approval of Redleg on the horizon and our breakeven point being achieved. Once that happens I expect us to see a more realistic long-term valuation.
http://www.iii.co.uk/equity-research/lse:dis/distil-plc%3A-delivered-leg for anyone that's interested.
I really feel the market reaction was far too muted to what was a couple of brilliant RNS's, and feel that we are now heavily undervalued. Break even would have been achieved even without the Tesco listing, with it we will surpass breakeven point by a decent amount uni, and be profitable by the next set of results. Once we get to that stage, the SP will re-rate and we won't see 0.8/0.9 again imo. I took a bottle of Blackwoods Gin to a party last night and it went down great amongst everyone. Was also delighted to know that a couple of people were already familiar with the brand.