Member Info for MrHumble

What is sad is the evidence really.

If you were to look at the facts before looking at RNS's, you would most likely have assumed before the update 'they won't want to show anything about Croda here'

The company ended June 2025 with £4.8m in cash, which includes £4.2m gross proceeds from the June placing and retail offer. However, the cash balance also reflects existing cash reserves from previous fundraisings or equity dilutions earlier in the financial year, as the company held £1.2m at the end of December 2024. This means that the additional cash above the £4.2m raise—roughly £0.6m—is likely a combination of stated cost control, timing of cash flows, operational cash generation if any, from acquisitions, and funds carried forward from earlier financing rounds. Given the Croda NDA preventing disclosure of immaterial royalty income, it is mathematically unlikely that any significant Croda royalties materially contributed to this cash or revenue figure. Therefore, the extra cash is best explained by a mix of stated cost management, timing, and prior financing rather than undisclosed royalty payments.

I understand all the trolls desperately trying to show that SBTX received or expected revenue before June close 2025. It would look awful if not the case really.

'Management expects revenues between £4.5m and £4.8m for FY25, mainly from Dermatonics, Bio-Tech Solutions, and organic AxisBiotix growth.'

Horses mouth

Not demonstrated at all. It's a poor narrative as it can't be demonstrated. Would help if the CEO stated it's not cash running out from the previous raises and bonds for a start

Since the 16th November 2023 circa 22p, this company has had many millions from dilutions and converted bonds.

And look at the last update.

Shocking.

Price tanked 70% before all of those dilution windows - and they are the only windows that got paid.

Between news structure and dilutions/reward structure - why would anyone need look any further really.

The net stock flows are now awful so they need to add some jam before the OPTI roll - and if so, that will be it for a year lol

GL

How to try make it look evidence based? Well start pulling info from anywhere but the evidence here. But as has been seen for years - that's never going to cut it either.

Use actual evidence?

For years - expected croda royalties

Croda numbers in June

No Croda numbers in June

Just a cash raise all were effectively told prior, would not happen.

All that occurred when obviously known trading expectations would not be met

Trading update actuals (and thats unaudited) - awful

'Expect to be cash positive for y/e 2025' - just forgot to say it would require raises to be so

That's hardly tip of the ice-berg - just the latest lol

The evidence is awful - positive speculation therefore is not evidence based.

No evidence of a strong future toyin.. You are 100% speculating.

PS i hope you all get that spike release before the OPTI programme kicks in .

Those that treat it as an escape if offered, lucky them. Those that do not - unlucky

But what is so?

A history most should ponder really.

GLA

Summary

Given the communications history over the past few years, why have Croda, Axisbiotix and the acquisitions not financed superdrug? Given the content and timeline of all 'communications' - this should easily have been so

I think something more broad, is concerning about the financing of Superdrug shelf lease.

Somewhere between 2019 and 2021, (did not check exactly when), RNS's implied imminent royalties from Croda

It has obviously not materialised on all of those years, as it seems to have not been able to contribute £1 to the superdrug breakdown - which was - full funding of the superdrug outlays to come.

Also concerning is the cash flows balance given you would have expected Croda, the acquisitions - or both, to have paid for this superdrug cost plan.

Nada

That's not me suggesting it. It is the history of the company implying all over time via some RNS's, but mostly on teletubby channels

That would possibly be illegal though. Funds and retail bought on the premise that (according to IM), the 4.2 was fully allocated to, and for, superdrug only costs

It's actually impossible to see current balance plus forecasted inflows to year end, exceeding costs.

The only way to avoid a rasie, is to 'suddenly' decide, they wont spend much on superdrug at all lol

Unless they were lying, that 4.2M forward spending plan on superdrug, leaves 600K

Some assume that is a mix of acquisitions and Croda returns - not a lot whatever way any spin it. Superdrug cant possibly kick in with any real flows in 2025 - so the cash balance is weak and will most likely require a new raise before year end, or Q1 2026

The company accounted for the full 4.2M raise as a dedicated spend to superdrug related only (disagree with the company?) . That leaves little in terms of positive cash flow balances and inflows to year end.

'If your article draws conclusions, they should be clearly linked to the evidence presented.'

That's been a problem here for the bullish for years. The only 'evidence' is and always has been bearish

Imo, PI's have been shouted down too long in the UK crap little stock markets. Really is time they get some muscle behind any views of difference. Assured, they will only need refer to said, to have a back up even Sachs would be happy with in a report haha

I think the window is closing for a jam release for a spike. It has to occur before OPTI call a raise whenever - because once they do - the focus will switch to getting gerbils in there for the probable 40s back to 10s distribution, much like 60s to 10 distribution here (OPTI stayed quiet for that - and so, safe to assume sbtx will, now they have enough cash to see them through it)

So, what you do not want bulls, is that OPTI RNS before seeing a jam spike release here. If OPTI is first? No jam spike here at all.

The relationship between both the OPTI and SBTX cash run markets is not only probable - it is factual if presented correctly.

Leave that to others

Based on statistical flows, a release will be due here in the next 5-10 market days . Flows are at point of truly requiring it now. Jam tomorrow or more crud news, i can already confirm it wont be jam today. I wish it would be a jam today one. It would make a mockery of all the stunts pulled prior lol