The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I think while obviously there are some trolls on here who are critical of the company - there are long term holders who are rampers - who attach anybody who takes a constructively critical viewpoint of the company’s dealings.
The board shouldn’t be congratulated for “nearly” signing Maersk or KSA - because ‘Nearly’ doesn’t pay the bills.
All that has happened this week is that shareholders have pumped in another £1.5m cash to give the company until October. Now they have to deliver as it’s clear this is make or break for them.
I would love to see some new faces on the executive team now - the current ones have failed to deliver and shouldn’t be given further time in my opinion
Hi Fyoz just to be clear no one is asking you to stop posting and I salute you for being in this stock a long time. I have been in it since 2013 myself and certainly don't have the jitters as you say.
I have no intention in selling my shares at this point as I have invested £50k at an average price of 30P. So my holding is worth £4150 today - a book loss of £46k. I have already written these shares off, of course like any shareholder I want the company to succeed but I want them to get rod of the current board as the current ones are incompetent as we can clearly see. If the company survives until the next AGM then I will make this point to their faces!
Fyoz when you say "and yet the doom mongers are still whinging on about the BoD, all of whom bought into the fund raise. Yes, they put their own hard earned money into what you're all suggesting is now a failed enterprise"
Mike Kirk took 100,000 shares on the open offer - so he put in £2500 of his own "hard earned" money - Hardly a confidence inspiring amount from the chairman is it? And do you really think they had any choice? They knew that as shareholders if they didn't take up the open offer themselves it would look terrible.
Bottom line is I have just posted something factual, whereas you just post over the top bullish statements which have no foundation and it's not helpful in a serious discussion.
I genuinely feel for the existing shareholders who have pumped in life savings into this company and felt almost pressure into spending more on this open offer because they would have been worried about losing everything if, as QFI's "doomsday" RNS had mentioned would happen if they didn't raise the money.
It was almost akin to blackmail in my opinion.
I want this company to succeed, but it needs new and experienced execs, and fast!
Absolutely spot on Noosking.
I really don't know how Fyoz can refer to us as being "Doom mongers" for pointing out the obvious.
The fact remains that many shareholders on sunday night (before todays RNS) were wondering if QFI would still be in business today, there has been massive uncertainty around the company and the buck stops with the BOD.
They are abject - running cap in hand to the existing shareholders to tide them over with enough cash to pay their overpaid salaries until q4 of 2019. There's always a carrot they dangle in front of investors eyes to make them think something big is around the corner - Maersk (fell flat) KSA (fell flat) and now... Ooh it's Freepoint!
Most shareholders are extremely sceptical and feel the board have tried to pull the wool of their eyes - painting a glossy picture of what is in reality - an absolutely dire situation.
I am not a "doom monger" I certainly have no interest in seeing this company fail - I am just a shareholder who is exasperated that this company has not made fundamental changes to it's executive team - this is ALWAYS the first port of call when a company has failed (Which QFI has)
But Fyoz you need to stop getting so critical of shareholders who air their opinion. We're not going to push the share price down if that's what you're worried about. The BOD have managed to do that on their own, and unless key changes are made they're going run it all the way down to 0 and wipe every penny you and all the investors have put into this company - so rather than consistently post overly zealous rhetoric like "they're wheeling us to the launchpad" why not stick to the facts.
Todays factst: -
1)QFI have raised enough money to stay in business until October 2019 (without which the company would have been liquidated)
2) They raised less than were hoping for.
Hi Dust. I am sure for many investors they were in the same boat, it was indeed a very poor timing from the BOD with Christmas etc.
I personally didn't invest anymore as I have already risked a large amount and it's simply too risky to put more in.
One thing I find surprising is the tone from some investors who seem to be almost congratulating the board for raising the money?? For me this is bizarre. The simple fact is the company had to be bailed out by existing shareholders just to stay in business until October? One thing is for certain - they have had a short reprieve and need to get some signed deals asap. No more "partnerships" or "trials" but REAL money in. Otherwise stop wasting everyone's time and wind the business down. They are an absolute embarrassment and I personally think these execs should be replaced.
I think everyone needs to take a chill pill. Look let's be honest, QFI is a highly speculative company to invest in, it's that simple.
They have no revenue - it's a loss making operation and previous deals that looked promising - Maersk, KSA etc have evaporated. They are close to going under and need emergency cash. These are the simple facts. I am a shareholder but don't understand why some long term holders delude themselves that something big is just around the corner and Freepoint will be the saviour! Didn't Mike Kirk say the same about KSA in Dec 2017?
Anyway I would LOVE it if something big happened and the company turned itself around, but based on past performance that is not looking very likely UNLESS the company got someone new in. Mike Kirk is useless! If he was a football manager he would have been fired a long time ago, QFI needs fresh faces and young, dynamic, sales orientated execs! Simple!
1) "If you want something different tomorrow, you must do something different today"
2) The definition of Madness - Doing the same thing over and over and expecting a different result (This is QFI all over)
Fyoz If I have missed something then I would love to be enlightened. What is a CMPDA?
Blackwash "You seem to be challenging the BOD for achieving nothing when they have this year brought Freepoint to the party."
Firstly, I am not challenging the BOD, I am merely pointing out facts. Perhaps you consider signing an MOU with Freepoint 6 months ago an achievement, but I certainly do not.
Secondly regarding Freepoint, all we have done is merely sign a non legally binding agreement to "explore" opportunities. There is nothing solid here and certainly no guarantees that anything will transpire from it.
This is why QFI MUST pull their fingers out of the ***** and get some real sales people in to the company. These old silver foxes may have technical knowledge but they lack salesmanship, this isn't critical - this is fact. This is why after being business since 2004 (15 years!) they have no clients and have to urgently raise funds to stay afloat.
Listen I have a vested interest in the share price going up! I am not a shorter, I am a guy who has invested over £50k in this company. Up until 2019 I had not ever posted on a message board about QFI - but I feel it's important the company recruit proper sales people now, cut the BOD's salaries and make some real changes - this is essential in order to survive.
FYOZ When you say "They didn't ask loyal share holders to bail them out, they gave the opportunity to existing shareholders" Are you saying we are not loyal share holders? I have invested a lot of my money in this company since 2013 and never sold, so by definition I am a loyal shareholder, as are the many on here who have been invested in QFI for many years.
And Petergar your comment "you've completely missed the point.. they've brought Freepoint on board to sell it for them" I have missed anything, I am well aware of what Freepoint's role will be, but the fact is a business should not be relying solely on a 3rd party to develop it's sales. QFI still need to be out there selling this product, not sitting on their butts expecting Freepoint to do the graft for them, its embarrassing. They need multiple streams of revenue at this stage in order to survive. If Freepoint bring in some business, great. But if that's their only game plan (Which I really hope it's not) then don't be surprised to see this company go under. Why are QFI not capable of finding their own clients? After so many years? Don't forget if they find the clients directly, the profit margins will be higher as they don't need to pay commissions to the 3rd parties.
Interesting opinion and I hope Freepoint genuinely share the same opinion as you :)
It’s about time QFI started making some money and stop asking loyal shareholders to keep bailing them out when the cash runs low.
As obvious as this sounds, to be at this point after so many years without any clients is rather embarrassing.
QFI need good sales people, desperately in my opinion. The product clearly has value but it’s irrelevant how good your product is, if you don’t have strong sales people you will go out of business.
From listening to the conference calls, the execs have little charisma or salesmanship. If I was running the company my first port of call would be to remove these overpaid directors and recruit sales orientated execs who are rewarded significantly from developing revenue generating business.
Thanks Squifi.
After the last placement offering of 10p (I can't remember dates) was completed and funds raised, not long after they released negative Maersk news and the share price tanked to 5p.
I hope that the same won't happen again but I wouldn't be surprised that once funds are raised there will be another negative RNS pushing the share price down even lower. I am very suspicious about AIM companies and how prices can be manipulated. I would LOVE to be proven wrong but my gut feeling is not positive.
Hi guys,
This is my first post although I have held QFI since 2014. I remember i took up the placement offering when the share price was 11p and the placement offer was 10p (10% off) which I took up. Only to tank not long after the Maersk trial cancellation. This time the offer is 2.5p and the share price seems to be sticking around that level. My question is how does it manage to never veer far away from the actual share price during the offer period when we know how volatile QFI is normally - sorry if this is a naive question but is there anyway market makers are manipulating the price to ensure the offer doesn't look too unattractive?