Member Info for LTbeliever

Bunsen123, why do u think cash is an issue? It had 200k at eoJune2025, plus stocks, plus creditors; it made loss (before interest pmnts) of 200k in H1 2025; in H2 it made an oper profit of 600k (400k for FY, as per update) - this 600k is available cash for loan pmnts etc (amortisation is non-cash); in September, the Contguard contract commenced, with cash paid upfront for orders - also, the Co agreed to start paying cap+int for the one of the 2 Conv Loans around the same time, obviously they did this on the basis of cash forecasts; IMO, the Y/E2025 cash balance will be 300k MIN.

Market will get there once the AFS2025 confirm both the oper profit and cash balances - give it another month.

Correction! Fixed O/hs of $2-2.5mln

Big money will/should be when (if?) a partner/partners is announced; then, they will need maybe 1 year for phase II (I remember this from a presentation somewhere).

Good time to refresh our memory from last October!

https://www.lse.co.uk/media/NFX/dr-dan-gooding-nuformix-increasingly-confident-us-regulators-will-grant-nxp002-orphan-drug-status-tu55q59g5zh9m7o.html

Well said CTW; 6ml for 2025, SaaS revenues are sticky/recurring, meaning that we have most of these 6mln in 2026 plus the 2mln pending ContGuard contract, plus new clients; Co has fixed o/hs of $4-4.5 mln so anything over is almost pure profit.

Https://www.investegate.co.uk/announcement/rns/nuformix--nfx/confirmation-of-us-odd-for-nxp002-in-ipf/9465863

Https://www.londonstockexchange.com/stock/NFX/nuformix-plc/company-page

doesn't let me open the actual RNS, I think u have to click on PRIVATE investor.

Definitely! People don't realise that Oper Profits of 400k and EBITDA of 1mln means that the Co made about 800k in cash, out of which it paid maybe 400k in loan+interest (the other 200k is amortisation); this means no liquidity risk, no dilution from another placing etc; much reduced risk profile while the upside is much improved.

I am looking at 10p by September interims, which should show a minimum of 4.5-5mln in Sales.

Davey, when the AFS are released in April, it will be the end of the doubters IMO; a great outlook for 2026, loans coming down, cash flow steadily increasing, margins up etc - and we are still waiting to hear about any partnerships for users of T42's tech.

So, ADIEN in admin too, leaving TED=PIP; mind you, TED will be flush with cash in a few weeks!!! 1mln as W/Cap and a mkt cap of 500k, the way things are going.

And BTW, BB123, cash b/ces are never stated in Trade Updates (look at T42's last 3 ones), only at Interims and AFS releases.

Remember that Contguard is paying cash upfront for its orders (which is, IMO, about 25-30% of current Revenues); they don't need to raise, they rolled 2.3 mln over, they repay one of these (cap+int), hired KPMG as Auditors (more expensive than the previous outfit) etc. All IMO

Shares are tightly held by Mgt and Insiders, big spread will slowly reduce as the SP and Mkt cap rises by April, when the AFS2025 confirm the Margins and Cash. Remember that SaaS margins are c90% so there is huge operating leverage; almost every $ of sales increase will be flowing straight through to NProfit.

Hi Daring, please feel free to correct my errors, the BB is for discussion, nothing is cast in stone especially for projections in future.

Last but not least, CFlow should be +500k for the FY2025, thus amply covering Loan pmnts+interest; at the Sept Interims, Co had just over 3mll of Debts, 2.3mln are the 2 Conv Loans (now rolled over until late 2027), 256k owed to Mgt (int rate rose from 4 to 8%pa) and most of the remainder was owed to the 2 Directors who converted it to shares (AGM RNS) in late December; therefore, all debts are now regular and EASILY repayable over the next couple of years, IMO.

We had 2.3mln Sales in H1 2025, implying Sales of 3.8mln in H2 i.e. a 65% increase over H1 (1.5 increase, over 2.3); Contguard contract was 2.5mln (started in Sept) which IMO means that a) most of the rise was not related to this deal b) we have at least 2mln of extra Revenues in 2026 from the CGuard deal; so, for FY2026 we are looking at 8-9mln Sales (min), GM of 55%, and oper profit of over 2mln !

Strong trading update for the year ended 31 December 2025, revenue increasing significantly to over $6.1 million from $4.16 million in 2024, driven by a 10% rise in SaaS revenues and strong sales of higher-margin products like Lokies. Gross margins improved to 45% from 38%, and operating profit of around $0.4 million, a substantial turnaround from a $0.9 million operating loss in the prior year, alongside positive EBITDA of $1.05 million compared to a $0.2 million loss. The co anticipates minimal impact from Middle East turmoil and remains confident in its pipeline, expecting continued momentum and increased commercialisation in 2026.

Https://www.investegate.co.uk/announcement/rns/t42-iot-tracking-solutions-npv--trac/trading-update/9463455