Member Info for martinu

Definitely a mismatch between words and numbers in India.

Jimmy, thanks for posting. There is no doubt in my mind that Opti are working in the right areas. But as has been said ad nauseam, it's getting the products sold in sufficiently large quantities and at the right price. Whilst keeping staff costs in check.

Could it be no new orders in Aug/Sept? See 2 extracts below.

Aug 20th update.

Sales orders for the first six months of the current year were under £600K approaching the FY 2023 reported revenue of £644K which was subsequently surpassed at the end of July 2024. These sales orders include confirmed orders received in the first six months of the year and are provided as a general update on progress. "

HY update, 27th Sep

" To the date of this statement, the total of reported sales and confirmed orders exceeds our total 2023 sales of £644K."

So no change? And given the time lag, FY 24 revenues could be around £700k,including annual US Sweet payment?

Jimmy, agree. Excellent product, marketing... Interesting Opti are apparently working with an obesity clinic with a view to working with pharmas. Just oh so slow progress. Esp on Sweet.

It would be ironic if Steen bought a sizeable chunk now! A bit tongue in cheek but who knows?

Usual disappointing results, but as per guidance in recent update. In general, it seems that revenues remain flat. Is it the case that, for every new deal they sign they lose existing clients?

AS, on Morepen, i think it's possible the change of wording could be clarification. If so, where have we experienced poorly worded RNSs before?!

And of course, precious little new news on Sweet(Biotix).

Hope this isn't too elimentary a question, but can Steen be removed as Director but stay as CEO?

AS, I'm in agreement with you,regarding thinking about what might happen next. Not least SOH being intérim CEO. Some saving in salary to offset compensation. But SOH does not have a great record Re commercialisation.

For me, If Steen goes, and he probably should, most of the recently appointed staff are Danish and likely close to Steen, so might be unhappy. Though I've no reason to think these staff are not decent, experienced people. But will they want to leave? (NB: Steen was on gardening leave for nearly a year prior to taking up post. His garden could be getting even more attention after this).

I've no idea if the following is possible, so would welcome comments. If Steen stays but Fred goes, is there anyway of preventing a repeat of bringing on board close associates in the future? Because, as has been said, there is the possibility of Steen and associates taking PBX private on the cheap. Of course, there might well be the need for future fundraising. So would seem impractical.

Also, Steen did not rule out taking the operation to Denmark, in anything but the near future.

Thought Steen HAD done a good job up to the point of fundraise and appointment of Fred to board. Perhaps keep Steen but not Fred?

Shareholders appear to lose either way. Are recently issued shares revokable?

Not sure whether to thank you or not? 😒It does seem like death by a thousand delays. Half year results this week (probably) which we already appear to have been told will be underwhelming. And, presumably, no further forward on SweetBiotix?

But what then...?

I was surprised and none too happy with the fund raise. Not least, as others have said, because of the apparent close association between Steen and his new director.

But don't forget, it was SOH who listed PBX on Aquis. And whilst technically the fund raise could be argued to be invalid, we are also led to believe that SOH could have voted against the relevant motion at the AGM.

Also, there is the possibility that Steen could repeat this tactic in the future. Potentially giving him/his associate even greater control.

But I see no monetary gain for shareholders whether Steen stays or goes. OK we might get the satisfaction of shafting the shafter.

If he was removed, there would remain the handful of key staff that Steen has taken on. Who might be good appointments. Whoever might take over, would have to build a relationship with them. Also, in the short term SOH would likely take charge. A good saving on salary but many have expressed dismay at SOH's shortcomings at Opti.

Tis a bleddy mess, as us say down yer in Deb'n.

Https://probiotixhealth-ir.com/news/archive/2024/160924

Prof, just to add, I think 3x is at the lower end of range. See extract from Jul 23 RNS below.

"The SweetBiotix® portfolio contains a range of products which human studies have shown have high (240X the sweetness of sugar) to moderate levels of sweetness (3X) to meet the needs of a wide range of application including fizzy drinks, snacks, bakery products, dairy products and cereals. As a general guide, the high-level sweet products could be considered a replacement for existing sweeteners whilst the moderate level sweetness products as bulk sugar replacement products. "

This link seems to suggest new shares admitted.

https://www.aquis.eu/companies/PBX

Perhaps he found Seed while on gardening leave. :)

Just to return briefly to recent accounts. Presumably the new Danish investor didn't see receivables as an issue. Perhaps he should've done!

Thanks to mol and others for providing detail on relevant resolutions. It seems there are no winners in this disagreement. Steen has given away 23% of company for a song. Stephen has apparently missed an opportunity to stop this. I'm assuming Steen didn't give Stephen a courtesy call to flag up the impending fund raise!! Of course, our new Danish investor potentially will be a winner.

Going forward, it could be said Steen will be under pressure to show "opportunities" have been taken advantage of from the proceeds of this fund raise. Even if there were someway of stopping the share issue and ousting Steen, it would be very difficult to reverse the appointments made under Steen's tenure, so let's hope they are good. However, with Opti's reduced influence now, is there the danger of Steen's friends or Steen himself, gaining tighter control of PBX. In extremis, taking PBX private?

All the above is me thinking aloud. So happy to be put right on any or all of my speculation. Hope I haven't maligned anyone too badly!

Good response by SOH/OPTI. Agree with sentiment that this should be stopped. However, PBX will be (are already?) in a bit of a pickle. Which won't necessarily help us shareholders.

If Steen was forced out, what next?

The whole website seems fresher and up to date.

I agree SOH probably isn't pleased. However, and I don't know how these things work, Opti held around 45% of shares at time of PBX listing. Also, SOH is a director. What power would he /Opti have had to stop this?

Well, it's a lot of the company to "give away". Wonder what SOH thinks with Opti's large stake? But if they needed funds, I don't suppose there were many options. In some ways it's a very proactive move but remains to be seen what "opportunities" these funds allow us to take.