Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
The MM's have palyed a blinder today...
They could see many hoping the SP would drop to the placing price,
so they took your shares off you on the cheap, leaving you to think
you could buy back lower..Now they are loaded up and will make
a nice profit on the spread as they take it back up... Leaving you
wondering..What just happened...
Doc.Dan
How odd you think this is about "winning"..
Perhaps that is behind your posting criteria, but I am interested
in other views, and if the debate gets buried, as Tommy likes to do
aided by g&f then the propsect is lost if you allow them (and you sometimes)
to control the narrative.
Doc.Dan
Spacman started the conversation about SNG being a going concern 2 days
ago... So a current conversation that TGF have tried to bury as usual.
If it does not interest you then fine, but let's give the debate a chance before
your judgemental views have any credibility..
Fruits
Keep it real.. We are palnning small P2's not a P3, so yes nothing like the cost of SPRINTER.
But we hope to include the US and we will need Millions not tens of millions, but where
are they coming from ? How about someone looks at the interims and expalins how
it can be done, rather than just attack me? If I am missing something then demonstrate
an alternative view ?
Fruits
I have allowed for a 40% reduction in each Half...and still there is nothing for Trials.
We can only just get through 2024 with a 40% reduction... Please offer another
view that shows how £14.6M as of 30th June gets us through 2024 and pays for our
trials??
Gunto
I will be one of the very few who are calm when the RNS lands with "placing/funding" in the title..
Because I can see it coming and the cult who will not hear anything against RM/SNG will need
tranquilisers !
Yes gunto, and what was that based on?
Great Deep Dive results that should have lead to another P3... But it did not..!!
RM telling us he thought we would be dosing patients last Winter...We did not!
SNG presenting our results at every major conference, with no results.
The expectation that we would get a P3 after passing Activ 2..But nothing and no explanation..
What is there to ramp about based on all of the above??? Only an idiot ignores a lack of achievement
despite great data....
Gunto
I have based this on SNG's declared spending figures, you can see that..
So making personal attacks on me as a deflection from the numbers is
a pretty poor attempt to try and silence from a valid concern here!
Gunto....
We all know that SNG have said they can afford the trials... But
if we had £14.6M on 30th June 2023 and spent £5.8M in the first
half of 2023, so if we spend the same in H2 2023, that leaves less
than £9M at the end of 2023, so not enough to get through 2024
without a trial/s .. The sums just do not add up.. Even if they
spend £3.5M not £5.8M each Half going forward from 30th June 2023
we still only have enough to get to the end of this year with nothing for
our planned trials..... You cannot ignore the numbers, no matter what we have been
told IMHO!
2023 spending would indicate that we need all of our cash just to get us to the end of
this year... As we gear up for trials, it is reasonable to think that our costs will not go down..
So where is the money coming from to pay for the P2's we plan to start H1 2024????
Only Tommy could come up with this heading...!
Actually Tommy, SNG/ RM thought they could get on a platform trial
in other more important words a free trial. When it became clear they
could not, they had to look to doing another trial themselves...To
the Great disappointment of LTH's a P2..... A lesson for the Board of SNG..!
Fruits
I used our loss £5.8M in H1 2023 as the base for my post.. As we are gearing up for trials it
is hard to see why our costs would go down..
£14.6M cash 30 June 2023 Subtract the same for H2 2023 leaves around
£9M...Take off £5.8M for H1 2024 leaves £3.2M So where is the cash for the trials???
Tommy
Have you considered they waned to send a message? The Board at VAL and
the staff now know that shareholders want changes at Board level... VAL
had to inform the market of the action.... So in many ways they have achieved
a lot... I would back such an initiative here, we have so much of our future in RM's
hands.... Has he shown any respect for us.... NO...Should we just sit back and
accept that? No. I think many PI's here are in for a shock. I have laid out in an
earlier post how the numbers here just do not add up, and it is difficult to see where
the money is coming from to pay for our trials... If I am right, then RM must go!
I note you did not respond to my post Tommy... That is almost unheard of!!!!
Perhaps for once, there is nothing you could come up with in light of the numbers!
The P
If VAL had to take legal advice before responding and reporting the action to the
market, I think it is fair to say it was a significant event. It may be round one,
they did not have the % but nothing to stop another attempt now it is out there
that PI's want the CEO out ! I expect RM is aware of it ! When RM announces
we need further funds he should perhaps consider his position at risk!!!!
Looking into this, I cannot see how we can afford the trials?
1. 30th June 2023 we had £14.6M
2. First 6 months of 2023 we made a loss of £5.8M
3. If we made the same loss in second half of 23 we had say £9M end of year.
4. We hope to start P2's in H1 24, take off say £5M for working capital for H1 that only leaves £4M
5. We need funds for overheads for H2 so if we use our remaining £4M....THEN..
Where is the money to fund our P2's ????????
IF and I do say IF the new CFO thinks we need further funds then
they cannot start without addressing that first. To get approval
they would have to confirm they would be able to complete the trial.
I think when you look at our losses in the 6 months to June 23 we
are getting through more than I would expect in a year when we
have no trial expenses...We are not funding UNIVERSAL...
I did think Ward going was significant, we know he was not even
able to answer basic financial questions at the last AGM..
Did he mislead the Board into thinking they had enough to do the
trials? All speculation, but when you look at the interims they
do raise concerns about the cash burn at SNG IMHO!
Financial
· Cash and deposit balances of £14.6 million at 30 June 2023 (30 June 2022: £18.0 million; 31 December 2022: £19.7 million). Post period-end receipt of FY 2022 research and development tax credit of £2.4 million.
· Loss before tax for the six months ended 30 June 2023 was £5.2 million (30 June 2022: £14.0 million loss).
Tommy
I cannot make any sense of that post....
Reality is we do not know how far we are along the trial process.... We know
that many aspects are outside of our control, so until we get confirmation
of start dates, then we have to wait and hope everything is going to happen in H1.
Could things slip into H2...Yes.... Might we need extra funds...Yes...