Member Info for martinu

I'm no chartist nor am I an expert investor BUT ... I'll chuck in my twopenn'orth. From mid July 25 an SP of 17.5 ish looks the recent high. Then there is an upward trend from early 2024 which would be nice to rejoin. This trend seems to have a trend of lows heading towards 25p ish and a trend of highs heading towards 35p ish. I didn't have a magic ruler to hand so my 70 year old eyes might be slightly askew. It would show strong momentum if we could rejoin this trend of early 2024.

All the above is just observation without any methodological basis. I wonder if the SP can progress better with or without further company announcements.

Yes, a complete disappointment! With admin costs between £2-£2.5m p.a. , sales around £1m with gross margin around 50%, this is still a long way from break even. Most of SBTX holding sold and PBX presumably waiting in the wings. Plus the ever lengthening wait for Sweet to be commercialised.

No news but plenty of anticipation. Steadily growing sales and regular quarterly updates. Let's hope sales continue to grow and that we reach profitability this year.

Chief of Hara won again at Taunton Races today. I have made back £3.75 of my losses. 😊🏇

SA is fond of quoting inflated %age increases in sales when he is not comparing like with like. Increases due to acquisitions, royalties which weren't there last year. He must realise we can see the through that. But he does give the impression of being an empire builder. Let's hope the Emperor doesn't need new clothes!

Are we likely to get an updated note from Singer?

Are we likely to get an updated note from the broker?

Danielle Bekker is stepping down. Alyson Levett joining.

Why anyone places any store by what TW says is beyond me.

Perhaps the delayed orders will be late again next year, thus not being in FY26 but FY27?

Any views on new director who seems to be looking at audit etc?

Perhaps we will get a bit more info in Jan, though not holding my breath.

"A shareholder presentation with the wider SkinBioTherapeutics team will be held via the Investor Meet Company platform in January 2026."

If anyone is interested, SBTX have finally published FY 25 results , up to Jun 25 (their YE). This will have included 3 quarterly royalty payments by Croda to SBTX. These results seem to be implying sales of products containing Zenakine by Croda to partners have resulted in 700k of royalties for SBTX . Which royalties SBTX shareholders believe to be at 10%.

... don't think SA is finished with acquisitions yet?

"With a firmer financial footing with respect to cash, a scaled-up Group infrastructure, we are in a much stronger position for making new consolidating acquisitions and for negotiations with new potential industry partners."

Perhaps they have stuck with £6.2m for f/c as:

1. Any uplift would be seen as Croda and would be jumped on by us; and/or

2. Think it said somewhere in results that Croda difficult to f/c *

* "The extent of Croda sales is difficult to forecast since SkinBiotix™ is such a novel product for the industry, however, response to the Zenakine™ launch from attendees/customers at the Croda presentation at the Incosmetic Global meeting and feedback from Croda and the market are greatly encouraging with respect to market interest. "

Toyin, are you saying that logic suggests scenario 2?

I understand the sentiment that says that SA should be replaced, but, as we found with the broker, it might not be so easy to find an adequate replacement. And if proper due diligence was followed, not a quick process either.

Some good points, Veritas.

Where have all the shares come from? These were the largest holders: Opti, Brierwood, Tyndall, Seneca, Unicorn, as 4 Nov.

My view is certainly tempered by what has gone before. If this week's RNS was the first one on Sweet, I would view it as positive. But we have been at this stage with Sweet before, apparently ready to go to market, then what seems like an age (2 years?) passes with no progress. Let's hope we are really ready to show off products to potential customers.

On the first generation products (Slim, etc), there does seem to have been a recent good increase in revenue. Perhaps a full year of £1m revenue. Let's hope this momentum keeps going, as it hasn't in the past.

On profitability, with admin costs at c. £2-2.5m per year and with gross margin of just over 50%, we will need close to £5m revenue to break even.

On funding, all the foresight SOH showed in bringing SBTX to market and realising funds available to Opti of many £ms, seems to have been squandered. Being used in making up the difference between revenue and costs. That pot isn't far from empty! (16.5m shares at 16p = £2.6m = 18 to 24 months).

Given all of the above, why am I still holding? Not sure I can answer that. Hope, inertia, ... Cheers MU

A lot might depend on how quickly/ slowly the SweetBiotix products can be brought to market. As far as sugar substitutes in drinks are concerned, that would include testing of any drinks with SweetBiotix in. Which could be years away. Though, as I understand it. some companies have been working with us. (Ex DSM/ F and the unnamed US partner) *

It might be more likely, though still nowhere near imminent, that a SweetBiotix sweetener for tea/ coffee might be easier to get to market.

* This has led to a formal agreement with a USA partner and DSM Firmenich, a $12bn ingredients supplier, and several food and beverage companies supporting SweetBiotix development with a view to the use of SweetBiotix in their products.