Member Info for lignumvitae

Honestly Bronxville. I read all of your comments with interest but really think you worry too much. You seem to agonise over every bit of "noise". Krystal have a long path ahead of them with many potential pitfalls. Amryt have revenue & a broader company framework. Time will tell as to whether they can transition from that perilous label of "Junior Pharma", littered as it is with with miserable failures but i still think the signs hopeful. These things play out over time and, unfortunately, for many message board contributers investment horizons are measured in days and not years.

Krystal's EB initial trial results are on just two adult patients. EB is a complex condition with many patient sub-sets. Krystal use an "off the shelf" gene therapy approach. They have just two programmes running & ZERO revenue. Nasdaq market cap is $200m or thereabouts. Their EB programme will require complete phase trials on larger populations with many potential missteps along the way. So take it two ways, either [1] don't get too beat up about Krystal & EB as regards Amryt OR [2] consider the potential value of Amryt's bespoke gene therapy.

Seems Sacha Romanovitch has been forced out by a small group of partners who want her to "focus on profitability". She, reportedly, wanted to focus on the fundamentals otherwise these things can come back and "bite you on the bum". Maybe there is a feeling amongst GT top brass that they are entitled to live in a different world than ordinary mortals. Well, following the Patisserie Valerie debacle perhaps they are shooting the messenger. Auditor's are paid to audit & not just rubber-stamp. As i have said before they should be terriers and not poodles.

Seems Sacha Romanovitch has been forced out by a small group of partners who want her to "focus on profitability". She, apparently wanted to focus on the fundamentals otherwise these things come back and "bite you on the bum". Clearly there is a feeling amongst GT top brass that they are entitled to live in a different world than ordinary mortals & trouser mind boggling payouts. Well, following the Patisserie Valerie debacle maybe they are shooting the messenger. Auditor's are paid to audit & not just rubber-stamp. As i have said before they should be terriers and not poodles.

Thanks VistaMan. The question this raises for me is why, under the DTA, are dividends paid to one tax-exempt entity (SIPP) paid without deduction of withholding tax whilst those paid to another tax-exempt entity (ISA) suffer 15% withholding tax. Now i know that DTA's are of byzantine complexity and redrafted infrequently but it does seem to me that this is a clear anomaly.

If this company had been called Bloggs Bakers would it ever have achieved the investor following it did. It reminds me of those perfumes advertised on TV with a french name & a breathy, sexy voice whispering it quickly. No-one has the faintest idea what they are saying, could be "Essence of Dog Turd" but it sounds good & so sells a a fancy price. Well Patisserie has been selling at a fancy price - last reported earnings were 16p. If that were to be overstated by 50% and was actually 8p & with a 30% dilution following the placing that becomes 5.5p & who is going to rate the shares at more than a PE of 10 in the short to medium term. So that makes the 50p quite understandable. Trust has been broken & has to be restored. It won't be easy.

So let's get down to the fundamentals. Firstly this is a cash business so there should be no problem with debtor balances. Therefore either [1] There has been theft on a very large scale or [2] The business has simply not been making the profit margins that the board and, by extension the shareholders were led to believe. More likely the latter & covered up by a misstatement of creditors. In that case the business may not be viable, even with the cash injection, without increasing margins by either jacking up prices or cutting wage/ingredient costs. The placees have agreed to put up money at just 50p per share because of the risk that the deeper the investigators dig the bigger hole they may find. By the time the suspension is lifted hopefully we will be in possession of much more detailed information.

Well Grant Thornton have form. Remember Globo for one. Trouble is auditors nowadays seem to believe all those neat & tidy spreadsheets etc that are put before them, sign off the accounts & submit a fancy bill. All that keeps them in the company's good books & in line for all that nice creamy consultancy work. Auditors should be terriers not poodles.

As HASH will have 10% of Sentiance + a modest amount of cash then it all boils down to the value of Sentiance. HASH currently @ 0.5p = 10% £12.5m = Sentiance £125m. At 0.8p = Sentiance £225m. So what is Sentiance worth - seems to me that we don't have a lot to go on but HASH have given a decent analysis of their operations and they are said to be reaching critical mass. Valuing such frontier companies is hardly an exact science as so much depends on sentiment & momentum. I just have a gut feeling that a value within the range of £200 - £400 is about right but of course this could move dramatically - either way !

Vista Man - i will be very interested to hear what HL say. My enquiries of Charles Stanley earlier this year were to the effect that there was no chance of getting the 15% back but from apparently clued-up contributers to this message board maybe that is not correct.

You are such a solicitous chap Scully, but do not worry yourself. I don't think anyone got spiked as there was no spike.

Correction: "..... but let us not pretend that significant progress is not being achieved.

This is a small company that is making solid progress towards critical mass. Following the placing cash at bank underpins the market cap. I appreciate that this will be invested but let us not pretend that significant progress us being achieved. Quite why this stock attracts multitudes of posts from people such as Miss G & Diamond who pronounce that they have never owned the stock & never will [are they the same person] i do not know. Clearly such persons have their own agenda. Equally posters who have sold their shares - OK, you don't own them anymore so why bother. My advice is just to sit back & observe. My belief is that there is a better than evens chance that this company will carve out a profitable niche for itself.

So there we go. This share's current worth is a maximun of 8p.

St Ives has lost / sold-off most of it's former empire & is trying to create a new one. It now has a catchy new name & recently new CEO who is, rather modishly called "J". So the bricks&mortar business has gone to be replaced by a business that wants to wave it's magic wand over organisations far and wide. But what substance is there? Time will tell but a fancy name & fancy words doth not of themselves a business make.

The confirmation of customs clearances & reciprocal arrangements is very welcome. We will now see whether the reported expressions of interest can be speedily converted into orders & contracts. Mr Gandhi has been scrupulously fair to other shareholders in his financing. They will clearly wish to refinance existing lending facilities with a broader based syndicate - let us hope that this can be achieved. This company is capitalised at only some £8 - £9 million - a mere fraction of investment to date. The potential is there - hopefully shareholders will see the benefit.

Significant potential here albeit partially dependent on a steady improvement in Zimbabwe fortunes & governance. The paucity of the message board here demonstrates how "under the radar" this stock is. The Payserv results show a sound company building scale & which should be a prime beneficiary of improving economic conditions. The read through to Cambria demonstrates a miserly p/e ratio even before factoring in the turnaround in Millchem. As to the acquisition of 7.83% of Radar by Payserv this interests me. It has been acquired at a discount of one-third to Radar most recent declared NAV but maybe that NAV is cautious in intself. The clear intention is to build this stake if possible. Again improved economic conditions are the key. A lockaway of a share - not to expect fireworks but a sustained building of value.

Maybe not a surprise but it removes an uncertainty.

Miss G - you have a lot to say. You tell us that you have never invested in this stock & never will. In that case you spend a lot of your time trying to save other, less gifted investors from the error of their ways. Soon you will undoubtedly be beatified & then we can refer to you as Saint Golightly. In the meantime i think everyone by now will have got your message so, MissGolightly, please just go.

The pipeline news is a key piece of the puzzle. For the final piece we must await Harvey drilling but the investment case is now clear for all to see.