Member Info for netcurtains

Looking at the chart - provided no new information - this has all the ear marks of rising to about 13p........

Higher than 13p it will depend on some positive news regarding likely royalty payments ...

A large rise implies TWO things:

a) Our big holders of stock are not selling (at present).

b) Someone is buying big (somewhere behind the scenes).

I say this as we have quite a lot of small buys and sells and these transactions dont match the price rise size... So something else is happening.

I'm pretty sure CRODA have sold a reasonable amount of zenakine...... And I am surprised that none of it can be counted in 2025.... That doesn't make sense... Does it imply that we only get 10%+ "IF" and "WHEN" Croda sell X amount in value and we get nothing until that X amount is reached? That would explain a lot.

If a takeover is on the table this might be the time to go public.... IMHO (provided zenakine is as good as Croda think and we do indeed get 10%+) then this share will never be as cheap as it is now....

Looking at the price its quite possible there is a big buyer in the background.

Sham: LOL... Good luck to you... 😀😀😀

Might be..

Sham why are you lying? It makes no sense to lie - you can be negative without being silly...

How can it run out of cash in July????

SBTX has £2.92m cash...... So the cash pile will last at least two years and the inflows from zenakine are set to accelerate. (eg they spent £1.2m last year so assume the same or less)..

Buried_treasure: I did. Hence I am holding.... I would not be holding if I did not believe zenakine was worth a fortune...

Are you in too?

Pharmhall: That is not correct. SBTX do have an idea how sales are going. There was a CRODA man at the AGM who was very upbeat....If you are going to be negative please try and be as accurate as you can. Thanks.

Google AI says a top 10 global ingredient can have sales of between $1B and $4B and it says Zenakine won a top 10 global ingredient award quite recently:

"

Based on 2025 industry reports, Croda Beauty received the Covalo Top 10 Global Choice Award for their neurocosmetic ingredient, Zenakine™, at in-cosmetics Asia.

Key details regarding this award and related accolades for 2025 include:

Award-Winning Ingredient: Zenakine™ was recognized for bridging beauty and holistic well-being, specifically for its ability to enhance melatonin production to improve sleep quality and combat stress-related skin aging.

In-Cosmetics Asia 2025: The award was presented at this event, with the ingredient highlighted for its strong scientific backing.

"

A top ten link is also mentioned by Croda Japan:

https://www.cosmetic-info.jp/mate/detail.php?id=22647

Spike: In ENGLISH not ACCOUNTANTESE

Net means after costs (including tax).. Asset means (something you own)... Value means what its worth.....

Owning 10% of Zenakine is worth in a fire sale more than the current market cap of SBTX. (I'm not talking accountantese , but in English).

If you disagree that is your prorogative. So lets agree to disagree. I'll not change your mind and you will not change mine.

Spike you said "Nothing to do with NAV"...

I'm not talking accountant NAV - I'm talking REAL MONEY NAV - that Royalty stream - even in a fire sale is worth a DOUBLE DIGIT MILLIONS figure....

It might generate about £200M annual sells or about £20M to SBTX each year making it worth to a buyer £200M

From GoogleAI: "In 2026, a high-value top-ten cosmetic ingredient typically has global annual sales ranging from $1 billion to $4 billion, depending on its classification as a "base" functional ingredient or a high-demand "active" specialty"

(I've knocked zillions off the AI figures and it still makes ZENAKINE worth a bomb

Possibly (a guess) because it was a husband and wife deal. One takes the tax loss and the other the cheap shares.... Its just a guess... But who knows .... So even though the Dixons own same number of shares its not the same Dixon - so would have thought (just a guess) it would still need an RNS.

Spike in a fire sale a royalty stream of £1M a year (minimum) is worth £10m to £15m.... As its pure profit - eg a 10% dividend yield on your investment

Zenakine tipped to be top ten ingredient

https://www.cosmeticsandtoiletries.com/news/event-coverage/news/22959852/which-base-cosmetic-ingredients-will-rise-to-the-top-in-the-2026-ct-alls

The fall doesn't make sense. Its falling below NAV. This means if the company went buast and the assets sold we as shareholders might well get more than the current shareprice.

Why on earth are people selling at this price? Seems bonkers to me.....

Surely this is a HOLD and its getting a STRONGER HOLD all the time.

So we're saying the royalties might be FACTUALLY TRUE (eg that amount of zenakine was sold) but the accounting period it should be in was the meant for a later date?

Or are we saying they GUESSING royalty figures based on hints from Croda

Or are we saying the board is mistaken and in fact the ROYALTIES RIGHT will stand as they are once the auditors have looked?

Or are we saying LYING - sales have been very very slow and they have been telling us lies..

Which of the 4 monkeys?

The longer it goes without another negative RNS or suspension then the more likely it will recover .... So every day it should rise a percent or two as the safer it appears... But that is theory.... Not sure if that is how it will work

Red: Yes I sold most of mine a few weeks back. I make no secret of it. What I have left is a small positition (made small by recent events).... I sold as it hit me that that was growing too slowly......

Now its a differet situation....... Its making educated guesses about news flow. What will the next RNS bring - better or worse news..... No one knows for sure but people are making educated guesses.... Sometimes even if its bad news it rises as the bad might be less bad than the market was thinking..... So it could FLY or CRASH....

You really make me say things over and over and over again..

I guess no harm - but it is a bit boring...