Lanstead11 Dec 2022 23:56
That Lanstead deal really was the worst possible deal they could have done at that time. Honestly a total disgrace to shareholders.
I’ve gone from thinking it was necessary at the time to completely against it as I learnt.
Just look at how Riddell left!
It’s a reversed CLN type deal where rather then just converting slowly they just dumped the lot with just the same as a CLN you never know exactly what it will bring in but of course it’s easy to paint a picture it will bring in riches whilst those doing the deal know basically their cash should keep the lights on just till they exit meaning zero risk!
As you keep seeing the A trades which is the book being very carefully organised for this deal.
Since Lanstead came on the whole trading changed with these small trades to try move the liquidity of stock also how they kind of set a minimum for trade desperately trying to hold it up to shift stock.
The whole thing has been bad for NFX on reflection. A simple placing at the time and holding of cash would been a lot better. Getting the pain over and done with.
The problem they have now is if they wanted to raise in this current market it would be a total disaster and without doubt I don’t think they could do it right now due to Lanstead still overhanging.
What a mess. It’s binary right now they need results and good results to help raise value but that’s hindered by Lanstead selling to try exit but without a JV deal etc they will need funding. Without a decent MCAP it makes trying to negotiate difficult in favourable terms etc.
A lot of variables to try see through here at the min. This paints a difficult picture for any serious investor small or large to buy or hold.
I hope for great results, I’m sure they will be but that’s only part of the problem here over this next 8 months. 20 months Lanstead deal goes for and with 12 months gone so far the clock is ticking with the extra money needed to do the new direction on combined SOC effect human testing this was not in the price plan but obviously they stopped short on the last testing but that testing was extra due to the inconclusive results from the rat testing. Piggy Bank