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A very thought provoking point for discussion, bald eagle.
In my view, FUM are "all over the place" and don't really know what they're doing to be honest. For all their efforts to sell the (as yet) unpatented placebo, there are still no takers as FUM now appears to be permanently re-rated as a penny share.
A very badly run company trying to peddle junk sums FUM up for me.
Enjoy the sunshine this weekend but remember not to break the lockdown rules. Fortunately Lady Top Up and I have the luxury of ab extremely large garden.
Toodle pip!
It's all smoke and mirrors, bald eagle.
The very purpose of FUM becoming listed was to complete CSD AFTER the deal with SSL so it could raise the necessary capital and become a sleeping partner receiving royalty income.
Once CSD was returned and it was obvious it would then fail, MED "conveniently" became a valuable asset despite having been returned by both RB and GSK. They apparently looked at it and thought it was rubbish. Just like all the "potential partners" in commercial discussions. Nobody was interested and they were proved right as MED failed Phase 3.
Now it's groundhog day all over again as it's rinse and repeat time with MED3000. Again nobody is interested - it's a pile of junk only bigged up by FUM's own very well paid directors. Hmmmmm, I wonder why! The phrase "a fool and his money are easily parted" should be put forward as a prime example for FUM shareholders. Just saying!
Sad to see them losing money like this, but I suppose they deserve it as they've already been stung by the previous MED. Again another phrase springs to mind: "Fool me once, shame on you. Fool me twice, shame on me".
Enjoy the weekend each and every one and TOODLE PIP!
He did seem to be grinning rather than smiling! I thought he looked quite well for someone over 60, but that's probably because he's never done a days work in his life. Lady Top Up thinks he either wears a wig or dyes his hair! She may have a point!
A very warm welcome, hawkhead, I trust you are well.
I totally agree with your assessment that Viagra is too strong to compete against. Bald eagle brought up the issue of CSD disappearing, and that was down to Durex being too strong so once Reckitt returned the rights (what's the point in eating into their own dominant market share?) and Church & Dwight the clear 2nd best chickening out, CSD was never going to succeed.
Exactly the same is happening with the (as yet) unpatented placebo. Nobody has the clout to compete with Viagra so it will end up in the same waste bin as CSD. That belief is backed up with no commercial deals.
Enjoy the rest of your evening and remember to applaud our brilliant NHS staff cometh the hour.
Excellent post, bald eagle. A very fair and honest assessment as to where we're at with FUM.
One thing which did make me laugh was a claim by donkeykong that a "subject to" deal may have been signed. What utter nonsense. It's blatant ramping like this which should be stopped. Quite sad, really, that some post such tripe. But I suppose things are getting desperate! Small sells now knocking this down, not looking good.
Just checking the TPR section on FUM's website:
"This work is progressing, and we expect Thornton & Ross to respond by the end of February 2020 within the timelines agreed with the MHRA."
You have got to laugh!
Toodle pip!
Good evening. ladies and gentlemen.
Firstly may I commend bald eagle's posts in the face of extreme adversity, some may even say "cyber bullying". I know many on here are well down due to averaging down from the 40s, but there's no need for the aggressive behaviour displayed.
Now to my thread header "financial tightrope". There's been some alarming (embarrassing even) ignorance shown regarding the understanding of FUM's finances. Several have pointed to the post year end cash "injection" re the tax credit. No no no! That's included in the year end balance sheet which contributes to covering the trade payables of nearly £5 million so is "already spoken for".
In fact, FUM had net current liabilities at 31/12/19 with the tax credits to be received plus the cash balance falling short of what was owed. The post year end fund raise of £3 million quite literally saved FUM from bankruptcy just in the nick of time - close shave, guys!
I thank the lord (not me, the great man in the sky!) that I'm not invested here. It seems quite obvious this is just being strung out further like it has been for the past 17 years, but hats off to FUM, they continue to sucker in their "loyal band" of shareholders, even though some may argue that they're trapped.
But I will continue to observe and contribute as always. I've got my answer re TPR. I knew it had hit the buffers, I did tell you all! They still haven't updated their website, however:
"This work is progressing, and we expect Thornton & Ross to respond by the end of February 2020 within the timelines agreed with the MHRA."
What a professional bunch of folk …….. NOT!
The very very best of luck and do enjoy the rest of your evenings.
Toodle pip!
Delayed by AT LEAST 6 months. Looks on its way out.
I also think the funds situation is misleading. FUM was bearly solvent at the end of 2019 so are relying on the post year end £3 million net fund raise to carry them for over a year. Good luck with that. But read the going concern note very carefully ……….
Toodle pip!
Good morning, bald eagle, I hope you had a thoroughly enjoyable weekend, even though the next few weeks, or even months, might merge the weekends into the week days!
Regarding TPR, I still believe it will be returned and knowing this lot they'll "tuck the announcement away" within the results. Possibly the MHRA questions cannot be adequately answered? Like most products under research and development, issues often emerge in practice after lab work showed promise.
Also the big pharmas will no doubt be developing all sorts of pain relief stuff of their own. None of them appeared interested in TPR, in fact GSK returned it. That says it all.
All eyes on the cash position this Wednesday as well as the TPR update. Can't see any new news on their (as yet) unpatented placebo. All a bit of a mess, I'm afraid. I can see this getting smashed on Wednesday.
The very best of luck
Toodle pip!
See what I mean? Undying loyalty. Or is it blinkered foolishness?
Looking forward to the TPR update, the latest cash position and the progress of the (as yet) unpatented placebo on April Fools Day. You couldn't make this up, could you?
Toodle pip!
I'm exceptionally well, bald eagle, thanks very much for asking. Even though I wish this wicked virus would go and do one as it's playing havoc with my usually hectic social life. Lady Top Up in particular loves holding balls, but the social distancing issue has scuppered that pleasure for the time being.
Disappointed that nobody has joined in my little quiz. But I suppose it goes without saying that the revenue will be zero as they have nothing to sell, despite being listed for 17 years. Hey, it's like setting up a company now and in the year 2037 the revenue being zero. If you put that scenario to anybody they'd say "no way, how could they possibly survive that long"?
But FUM have an incredibly loyal band of shareholders who'll always stump up the cash. Doesn't matter what the directors tell them - 20 out of 20 positive outcomes for MED. Before that a punchy numbered MED partnership. Several CSD launches. Yep, exceptionally loyal, they'll take anything they're told. The directors must think all their Christmases come at once as they seek placing after placing to fund their high salaries. Way to go, guys, and they've now fallen for the (as yet) unpatented placebo, the best lemon so far! Highly entertaining to watch mind you.
Careful how you go, bald eagle, and may extend my best wishes to everyone else on here. Take care my friends.
Toodle pip!
"This work is progressing, and we expect Thornton & Ross to respond by the end of February 2020 within the timelines agreed with the MHRA."
*chuckle chuckle*
Always good for a laugh are FUM, especially in these trying times!
Seriously though folks, just thought we could have a little quiz of "guess the numbers" to be included in FUM's final results next week. Let's start with the following 2 categories:
1). Revenue.
2). Total directors' emoluments.
My own guesses are:
1). Zero.
2). £1,300,000
Your own guesses most welcome :)
Good evening, theitalian, I hope you and your fellow countrymen are keeping well.
I think you need to look at ITX again, old bean. Certainly not a 500% spread (0.30p bid, 0.40p offer, have you been drinking, lol?) and over £3 million MCAP before today's bombshell.
Funny you should mention Lombard. As I said yesterday, "you ain't seen nothing yet" and in my very humble opinion FUM may yet feel the full wrath of these hideous Market conditions. Just saying.
Toodle pip!
PS - Oh I see where you've got the 500% spread from (lol!!!!!!)
PPS - Please stop stalking me. You feel the need to try and discredit what I'm posting, but I'm calling it correctly (8p gap - back of the net!) and posting fantastic and informative information. You're just making yourself look like a worried desperate ramper who's soiling his pants, if you don't mind me saying! Hey, are FUM shareholders responsible for the mass buying of bog rolls by any chance?
Thanks, idg69, much appreciated. I try my best!
And wow, how's that for a great call? Sitting nicely on the 8p gap just like I said would happen. How good am I?
But I'm afraid there's worse to come. I'm not making it up. Funding for high risk AIM companies will most likely completely dry up. Take Itaconix (ITX) for example. Despite saying this today:
".........… the Company has continued to trade in line with the Board's expectations and has a strong order book for its ingredients used in consumer detergent and cleaning products which has not been materially impacted by Covid-19."
…… they then went on to say this:
"The Company commenced a process in early March to raise equity funding to support this order book and fund working capital needs to continue advancing revenues of the Company's growing portfolio of bio-based ingredients for consumer products. Due to current market turbulence, discussions in the UK and the US to procure funding continue. There can be no assurance at this time, however, of additional funding nor of the terms and price of such funding."
The stock has been slammed by over 70%.
II's have collectively lost billions on perceived "safe" companies so there'll be little or no appetite to fund high risk loss makers like FUM. Sorry, I know you all don't want to hear this, but I think the game will soon be up. And as it costs half a million just to be listed, I wouldn't bet against a de-listing.
I wish you all the very very best of luck but it certainly looks like you need it.
But chins up, health is more important than money, so tally-ho and toodle pip!
Good evening, I hope everyone is well in these most difficult times.
I see FUM can't even get the seminar cancellation right, tucking it away in a "notice of results" RNS. Oh dear. And looks like the webinar will only be watched by the already converted, can't see anyone else being interested.
The coronavirus outbreak is extremely serious, and IMO the wholesale lockdown will trigger a global recession which may see several big names go bust, particularly in the Travel & Leisure sector, which will also have a knock on effect on all other sectors. Some serious money will be lost and everyone should be braced to plan for a retirement a couple of years further on, even the state retirement age to help fund the billions (even trillions) to fill the impending black hole. The biggest recession since the war looms IMO.
So the weaker companies will be in great danger of failing, especially those reliant on funding and especially those who rely on such funding within the next year ………….. such as FUM. These weak tiny AIM companies are stuffed and haven't a cat in hell's chance of attracting investment IMO. It's no coincidence that the AIM, full of these fund reliant companies, has dropped over 10% today compared with the FTSE's 4%. And there's a lot more pain to come, you ain't seen nothing yet.
The gap down to 8p is almost certain to complete this week, and if a further break down under 7p occurs in the next couple of weeks, then we'll see sub 4p quite soon. All IMO of course, but I've called this spot on so far so I'll probably be proved right.
I'm taking no satisfaction seeing FUM go down the pan, in fact I feel sorry for you shareholders. I'll continue to offer my moral support.
Take care now, and toodle pip!
As long as it's not HEE HAW, Quazi!
Hey, no need to get the hump, quazi, (lol), I think FUM are in very very serious trouble following the general Stock Market crash. IIs have enough on their plate without bothering to prop up a tiny bio-tec with an abysmal track record trying to get an (as yet) unpatented placebo to market with limited funds. Just saying!
Enjoy the rest of the weekend, one and all!
Good morning. I hope everyone is having a thoroughly enjoyable weekend.
I guess cancelling the seminar is totally irrelevant as it serves no purpose and I doubt anyone would bother attending. Why would they? In fact going ahead with the seminar will be helping stem the coronavirus spread as it'll be effectively self isolating anyone there albeit for just a couple of hours (lol).
Gap to 8p still on, most likely breaking much lower. Some have perceived Friday as some kind of rise, but "rising" less than 10% with a spread of more than 10% isn't "really" a rise, is it? They can't even get a dead act bounce right in a reversal to a bull market. And no chance of this lot attracting further investment IMO, not anymore.
Let's have a look on FUM's website to see if they've updated the status of TPR …...…
"This work is progressing, and we expect Thornton & Ross to respond by the end of February 2020 within the timelines agreed with the MHRA."
*SIGH*
Good evening, gents, I trust you are all keeping well.
I'm afraid I don't share the same optimism. It's almost certain FUM will need to raise more funds later in the year and this Stock Market crash will make it increasingly unlikely they will be able to attract the necessary investment, especially with any appetite for high risk loss making companies like FUM being significantly reduced.
They could possibly be talking to an empty room at the seminar, I cannot see anyone being interested. So it matters little what people think of FUM's (as yet) unpatented placebo (I still think it's junk - sorry!) because I doubt they'll ever get it over the line.
I also did say there was a gap to be filled to 8p. Nearly there.
Toodle pip!
Still saying this on FUM's website:
"This work is progressing, and we expect Thornton & Ross to respond by the end of February 2020 within the timelines agreed with the MHRA"
Quite scandalous really. Maybe they're drawing it out until this sham of a seminar later this month to see if they can suck anyone into believing in the (as yet) unpatented placebo? And why haven't they announced the release of the final results yet? Extremely slack. A very badly run company.