Member Info for LOTM-13

NMH21,

You forgot to mention the Airport Industry! in 9 months now there are new rules coming into force around the world ! & the 81 Series complies with those rules.

Oh & Pentland own over 15% of the company (as well as 55% of JD Sports) ......

LOTM

Its a pity they didn't actually update the Material Opportunities number from 7th April & 14th January in this announcement

"The Material Opportunities all remain in the sales pipeline and now total £18 million, higher than the £15 million reported in January 2025."

It would have been very interesting indeed to see how much of the £2.5M came from that pipeline & how much of it came from other sources & also to see if it has expanded further in the last 3 months.

I guess it might not given the uncertainty that's hung over THRU for the last 3 months.

Now that customers can see the viability of the business going forward & the uptake of the product, it will give them confidence to proceed with their orders now. Another contract like the one just signed & they'll have a cash runway extending for another year!

After that breakeven & profitability will be the targets & with only 171M shares in issue

LOTM

From 7th April 2025 Trading update RNS

Trading Update

"Revenue for FY25 is expected to be approximately £4.4 million (FY24: £7.8 million).

Retail Distribution revenue grew by 55% to £3.0 million and accounted for approximately 61% of total revenue in the year. This growth was offset by lower Customs and Entrance Security revenues compared with FY24. 58% of FY25 revenue resulted from orders from existing customers providing a solid base of repeat business upon which the Board expects to build.

Importantly, the £4.4 million of FY25 revenue was entirely derived from individually smaller orders (being individual orders of less than £0.5 million) (FY24: £4.4 million). No FY25 revenue was derived from the "Material Opportunities" identified in the Company's Trading Update announcement of 14 January 2025 (the "Update"). As explained in the Update, the Material Opportunities, if concluded, are expected to primarily impact the current financial year ending 31 March 2026. The Material Opportunities all remain in the sales pipeline and now total £18 million, higher than the £15 million reported in January 2025.

As at the date of this announcement, the Group does not have confirmation from these potential customers as to when purchase orders for the Material Opportunities will be entered into, if at all."

Looks like the £18M pipeline of opportunities is real & starting the happen at scale now.

LOTM

Tiger16,

Do you never read what other people post ?

Please stop referring to figures that are simply not true.

Now sit down for 10 mins reading the following & get your facts straight going forward.

"From 30th Aug 2024 RNS

"Primorus Investments plc (AIM: PRIM) is pleased to announce it has subscribed for 18,100,000 ordinary shares in Pri0r1ty AI PLC (" Pri0r1ty"), for a total consideration of £300,460 from the Company's existing cash resources ("Subscription"). The shares represent approximately 8.45% of the issued share capital of Pri0r1ty following the Subscription. The Subscription is part of a recent £550,000 fundraise by Pri0r1ty to fund software roll out."

"In aggregate, the Company, Rupert Labrum and Matthew Beardmore (both directors of the Company) hold 8,250,000 ordinary shares of ALTE representing approximately 45.83% of the issued share capital of ALTE"

So if you work it out £300,460 into 18.1M shares = 1.66p per share purchase price.

23rd Dec 2024 RNS

"As part of the Transaction, ALTE has raised £855,000 through a placing and subscription of 6,333,329 new ordinary shares at a price of 13.5 pence per share ("Fundraise"). Primorus has subscribed for 592,592 new ordinary shares in ALTE as part of the Fundraise for cash consideration of £80,000 ("Additional Investment"). Following the Additional Investment Primorus will hold 11,677,756 ordinary shares in ALTE representing approximately 12 per cent. of the issued share capital of ALTE, upon Admission."

"In aggregate, from Admission, the Company, Rupert Labrum and Matthew Beardmore (both directors of the Company) will hold 15,361,756 ordinary shares of ALTE representing approximately 16% of the issued share capital of ALTE."

Now remember ALTE had to acquire Pri0r1ty AI Ltd ! that was no doubt done in equity.

So its pretty clear that at some point in the process a share consolidation of some sort took place, hence the increase in the share price between the 2 dates from 1.66p a share to 13.5p per share.

The next point that might be worth speculating over is whether Rupert Labrum and Matthew Beardmore have sold there personal holdings in PR1 as well ! As it seems pretty likely that they to would be subject to the same lock-in terms as PRIM was subject to!

There combined holding would therefore be around 3,684,001 shares (15,361,756 at listing - 11,677,755 PR1's share of that figure). "

LOTM

To help clear up the confusion that's going on ....

From 30th Aug 2024 RNS

"Primorus Investments plc (AIM: PRIM) is pleased to announce it has subscribed for 18,100,000 ordinary shares in Pri0r1ty AI PLC (" Pri0r1ty"), for a total consideration of £300,460 from the Company's existing cash resources ("Subscription"). The shares represent approximately 8.45% of the issued share capital of Pri0r1ty following the Subscription. The Subscription is part of a recent £550,000 fundraise by Pri0r1ty to fund software roll out."

"In aggregate, the Company, Rupert Labrum and Matthew Beardmore (both directors of the Company) hold 8,250,000 ordinary shares of ALTE representing approximately 45.83% of the issued share capital of ALTE"

So if you work it out £300,460 into 18.1M shares = 1.66p per share purchase price.

23rd Dec 2024 RNS

"As part of the Transaction, ALTE has raised £855,000 through a placing and subscription of 6,333,329 new ordinary shares at a price of 13.5 pence per share ("Fundraise"). Primorus has subscribed for 592,592 new ordinary shares in ALTE as part of the Fundraise for cash consideration of £80,000 ("Additional Investment"). Following the Additional Investment Primorus will hold 11,677,756 ordinary shares in ALTE representing approximately 12 per cent. of the issued share capital of ALTE, upon Admission."

"In aggregate, from Admission, the Company, Rupert Labrum and Matthew Beardmore (both directors of the Company) will hold 15,361,756 ordinary shares of ALTE representing approximately 16% of the issued share capital of ALTE."

Now remember ALTE had to acquire Pri0r1ty AI Ltd ! that was no doubt done in equity.

So its pretty clear that at some point in the process a share consolidation of some sort took place, hence the increase in the share price between the 2 dates from 1.66p a share to 13.5p per share.

The next point that might be worth speculating over is whether Rupert Labrum and Matthew Beardmore have sold there personal holdings in PR1 as well ! As it seems pretty likely that they to would be subject to the same lock-in terms as PRIM was subject to!

There combined holding would therefore be around 3,684,001 shares (15,361,756 at listing - 11,677,755 PR1's share of that figure).

LOTM

To help clear up the confusion that's going on ....

From 30th Aug 2024 RNS

"Primorus Investments plc (AIM: PRIM) is pleased to announce it has subscribed for 18,100,000 ordinary shares in Pri0r1ty AI PLC (" Pri0r1ty"), for a total consideration of £300,460 from the Company's existing cash resources ("Subscription"). The shares represent approximately 8.45% of the issued share capital of Pri0r1ty following the Subscription. The Subscription is part of a recent £550,000 fundraise by Pri0r1ty to fund software roll out."

"In aggregate, the Company, Rupert Labrum and Matthew Beardmore (both directors of the Company) hold 8,250,000 ordinary shares of ALTE representing approximately 45.83% of the issued share capital of ALTE"

So if you work it out £300,460 into 18.1M shares = 1.66p per share purchase price.

23rd Dec 2024 RNS

"As part of the Transaction, ALTE has raised £855,000 through a placing and subscription of 6,333,329 new ordinary shares at a price of 13.5 pence per share ("Fundraise"). Primorus has subscribed for 592,592 new ordinary shares in ALTE as part of the Fundraise for cash consideration of £80,000 ("Additional Investment"). Following the Additional Investment Primorus will hold 11,677,756 ordinary shares in ALTE representing approximately 12 per cent. of the issued share capital of ALTE, upon Admission."

"In aggregate, from Admission, the Company, Rupert Labrum and Matthew Beardmore (both directors of the Company) will hold 15,361,756 ordinary shares of ALTE representing approximately 16% of the issued share capital of ALTE."

Now remember ALTE had to acquire Pri0r1ty AI Ltd ! that was no doubt done in equity.

So its pretty clear that at some point in the process a share consolidation of some sort took place, hence the increase in the share price between the 2 dates from 1.66p a share to 13.5p per share.

The next point that might be worth speculating over is whether Rupert Labrum and Matthew Beardmore have sold there personal holdings in PR1 as well ! As it seems pretty likely that they to would be subject to the same lock-in terms as PRIM was subject to!

There combined holding would therefore be around 3,684,001 shares (15,361,756 at listing - 11,677,755 PR1's share of that figure).

LOTM

There seems to be a lot of confusion here regarding what PRIM's holding in PR1 actually was.

Can people not spend a few minutes of there time doing a little proper research?

If you did spend that time on research, you'd get to the actual facts rather than figures just plucked from thin air.

PRIM actually held 11,677,756 PR1 shares when the lock-in agreement would have been made (as well as 1.8M warrants exercisable at a price of £0.003 per new ordinary share until July 2027 (see PRIM's Results announcement RNS from 30/05/2025).

LOTM

There is No indication whatsoever that BTC Treasury is on there mind from that interview.

They currently need whatever free cash is coming to cover there investment commitments to SVV2 & SVV3 in the short term end of story (& nothing wrong with that, but clearly they didn't signal previously that there fund commitments were totally uncovered until now).

Maybe they will try & secure a big % of SVV2 since it is still open for investment I believe, or if they get another exit soon maybe they will target buying more of Sure Ventures PLC knowing more free cash-flow isn't far away.

Clearly some patients is going to be required here, while things unfold in front of us.

LOTM

Hmm much bigger buys going through today than previously & little sign of selling!

I know people keep saying there's a big seller around were if there was then they have to have

1) Stock in the first place to sell

2) If they had over 3% = 60M shares then they would have to declare it every time they broke through a 1% threshold.

We've seen neither of those things occur in any of the RNS's

Just as I'm writing it looks like there might be a few sellers at 0.415p to help the MM's out

LOTM

Interesting interview,

So they are clearly using the proceeds of the disposal (Getvisibility) to help fund the commitments they've made to SVV2 & SVV3, so there is no cash to fund a share buyback & there doesn't even seem to be enough wiggle room currently for them to buy more Sure Ventures PLC shares on the open market.

If SVV2 & SVV3 keep up the current rate of buying into new investments, it could be a while before MFAI actually have the cash in hand that covers all of there SVV2 & SVV3 pledges, that then allows them to then contemplate what else to do with the cash from other SVV1 exists as they occur.

The SVV2 commitment is over £5.25M (with only around £1.25-£1.5M invested to date) I'm guessing the SVV3 commitment is £3M, I've no idea how much of that will have been funded to date (or called upon) £0.5M ?

LOTM

Hi Bobber69,

The last reported position was a cash burn of £3M per year (ok they may have taken on a couple more staff since then) Which would equate to £250K per month lets say £260K to be on the safe side for now.

Last week's contract is going to cover the cost of some of that amount for the next year, I'm going to suggest possibly as much as £500K of it, but lets be much more conservative than that & put it at £20K a month. That then reduces current outgoing that need to be covered to £240K per month.

With £2M available at the end of Feb plus all the cash for services contracts they've disclosed so far, is enough cash to get them into 2026 as it currently stands & that's with nothing else coming in, in the next 6 months which I highly doubt will turn out to be true, given all the activity that's going on.

At that point the first royalties should be starting to come in, I don't expect it will be a great deal to start with but will be on an upward curve & I can see them reaching breakeven in 2026 for sure, so any fund raise (if at all required) will be small to bridge that last gap.

In the meantime I'll be adding to my holding when I can, I over paid a few weeks ago, but very happy to have a position here.

LOTM

Https://www.linkedin.com/posts/the-aptamer-group_weve-made-great-progress-in-the-development-activity-7345356907118809088-RBTj

We've made great progress in the development of the Optimer delivery vehicle targeting liver fibrosis:

🔬 Identification of a novel biomarker targeted by Optimer for liver fibrosis therapies

🧬 Demonstrated reduction in scar tissue formation in liver fibrosis models

These results are a promising step forward in the development of targeted delivery solutions for fibrotic diseases.

👉 Read the full update: https://lnkd.in/gNdDDBjz

LOTM

Hi Harris07,

I'm intrigued, what doesn't look fundamentally great to the person you spoke to regarding APTA ?

LOTM

They sure do look to be making a lot of progress on multiple fronts & each of them an opportunity multiple times the current market cap! just need one of them to succeed nevermind 2 or 3 of them ............

LOTM

Hiring !!!

https://www.linkedin.com/posts/the-aptamer-group_inside-sales-executive-associate-activity-7344387262157070338-zPhy

Job Alert!! https://lnkd.in/gJpYazsH

We're hiring for an Inside Sales Executive. If you are a proactive and people-focused communicator with a passion for science and sales, then we need you.

Join our friendly team where you will play a vital part in generating leads, qualifying opportunities, and supporting our sales efforts across key segments of the life science market.

From research reagents and diagnostics to advanced therapies, we have the coolest science (so we think). Come and be a part of it, and help scientists develop new drugs, deliver new diagnostic tests, and uncover new biomarkers with Optimer.

https://lnkd.in/gJpYazsH

--------------

https://aptamergroup.com/careers/inside-sales-executive-associate/

Lists the job details etc

I thought the had employed someone not that long ago to do with sales, perhaps they needed additional help to deal with all the possibilities currently available.

LOTM

I decided to have a look at the Results RNS to see if I could find out who the major shareholders might be!

Anyway before I got to that section I noticed this ....

Direct Investments Cost or valuation at 31 December 2024 £000's = £1,514 (was £1,563 on 31/12/23)

Now Getvisibility was sold in April 25 for £1.8M of direct cash! so there's a £300K uplift to that figure to start with & then it values Precog & Low6 at a combined £0

LOTM

The results are backward looking & don't cause much excitement.

Perhaps we should have been viewing this ....

https://www.linkedin.com/posts/mindflair_2025-06-26rnsmfaiaccountspdf-activity-7344356476414550016-vEYJ

📣Mindflair plc (AIM: MFAI) - Final Results for the Year Ended 31 December 2024

Mindflair is pleased to share our audited results for the year ended 31 December 2024, alongside a Notice of AGM.

🔹 NAV increased to £10.8m (2023:

£5.8m)

Profit before tax: £3.2m (2023: £2.7m

loss)

🔹 £2.6m raised from Getvisibility sale (April 2025)

🔹 Loan notes fully repaid — now debt-free

🔹 11 new Al-focused #investments via

Sure Valley Ventures funds

🔹 Company is now debt-free with significant cash available for deployment

AGM notice and full results available at: https://lnkd.in/edKrJVtj

---------

"significant cash available for deployment"

hmm that doesn't sound like they have any intention of doing a share buy-back - when that is a very obvious thing for them to be doing (50% return on what they buy back currently) or a dividend. Sounds like they are either going to plough the cash into more investments without giving any indication as to the direction of travel.

Maybe some of the big shareholders need to be pushing for clarity on all of this or decide on a new strategy going forward with all the cash that's going to be flowing in near term.

LOTM

Ok they've made this a highly complex calculation, but here goes for now as it will change depending on the 30th June NAV valuations

OCN shares in issue 35,363,040

Tender number = 20% = 7,072,608

HANSA own 9,352,770 shares of OCN which are going to be valued at the OCN NAV not share price.

Assuming the full tender is taken up at the mid price of the tender range there would be 28,290,432 OCN shares left in issue & the approximate assets of each at 31st March 2025 would be OCN £579.8M & £340.9M for HANSA(but that's without any value for its OCN holding which at 31/03/25 was listed as £132.3M).

So the first calculation we need to do is OCN's NAV after the tender at mid price = £579.8M/28.29M = £20.49 per share.

HANSA's overall Valuation then becomes £340.9M + £191.64M (9.352M x £20.49) = £532.54M (well up on the £461.0M from 31/03/25).

HANSA's NAV per share now works out at £4.4375 per share (120M shares) against £3.84 at 31/03/25.

So when you divide £20.49 by £4.4375 you get roughly 4.6174 which on the voting ratio of (1 voting to 2 A share) means 1.539 voting shares + 3.078 A Shares for every OCN share you own.

The real issue is this & the OCN Independent Directors should be clearly signalling this to Shareholders but aren't for obvious reasons.

At the moment OCN is trading at £15 per share against the post tender NAV of £20.49 meaning it is trading at a 26.79% discount to NAV (£20.49 - £15 = £5.49 / £20.49).

Whereas HANSA's current NAV is listed as £4.07 & the blended Share price around £2.575 which is a £1.495 difference and equates to a 36.7% discount to NAV.

And if you take it to the post completion valuation of £4.4375 the discount increases to 41.97%.

So they are asking you to vote in favour of a deal where you receive no premium whatsoever for your OCN shares & move from a share with a 26.79% discount to NAV to one with a discount possibly as high as 41.97%.

Meaning your new blended HANSA shares will have the same NAV value as they do now, only instead of being able to sell them for £15 each you'll only be able to effectively get £11.889 for your blended holding.

Your losing your health dividend stream thanks to the Wilson & Sons sale & in the meantime your going to have to wait how many years for the blended HANSA share price to increase 25% from where it is now to effectively get it to the £15 you could have in your hand right now (that's ignoring inflation etc)

Honestly its like asking Turkey's to vote for Xmas.

LOTM

Gone very quiet! is everyone away doing more research ..............

LOTM

Well they have cash in the bank now with a lot more to come as SVV1 exists those 11 investments, its a case of what are they going to do with that cash & as the accounts show its not just a couple of £ million, the valuation was over £11M at the end of 2024, it will have grown since then & Napster is priced at the $12.25B valuation less 20% & its since said its worth $15.5B / $18B implied from a Forbes article & that was before the launch of "Napster Companion"

LOTM