Member Info for Noise

Most of AIM can be largely summarised by:

-Company A needs money for various reasons to stay solvent, the owners and the bank have usually said "hell no" at this point
-Company A hires a broker to raise money from professional investors/mug punters/gamblers
-Broker takes a 10-20% market discount and "buys" some shares
-Broker sells them to above-mentioned investors on the "normal market"
-Broker and Company A pay PR companies to hype up their new incredible investment offering with riches beyond your dreams just months away. PR battle rages between sockpuppet user accounts
-If broker can convince investors to buy the 1p shares for 2p = brokers wife gets a nice Christmas present

Yes. It seems we are back to:

"we have a life changing billion pound deal with 42 partners who have signed a potential LOI. We just need to urgently give away 50% of the company for virtually no money, then possibly do it again in May, then we may certainly have potential to make that billion"

Well I suppose this RNS clears up that the resolutions have passed.

For one other, if I recall Gerry Desler (CFO) charged valirx as an external service provider, as did Giorgio for a while. Wouldn't be surprised if Gerry includes himself in critical service provider, as I seriously doubt UCLH would let Val pay retrospectively.

ValJu, no money going to directors?

"Any payment of outstanding or current director fees or remuneration will not occur until after the Requisitioned General Meeting."

Heid, I have the same feeling.

Ignoring the lower price cap of 0.1p (a technicality in the grand scheme of things). I am pretty sure they do not have this headspace. They could possibly have 250m of wiggle room. But it seems they want to dilute Valirx by 50% immediately to keep the lights on and pay Satu her backpay and pension. Presumably that will absorb the £200k instantly.

June 2019 880m after AGM with resolutions passed
April 2020 1.5bn (effectively doubled)

They may have passed the resolution for consolidation, 50-50 I guess.

Christ, if we have new director on board (with a clear track record of equity spamming from our existing historic broker, Daniel Stewart), it seems obvious they aren't changing and they have no partners. I sold most of my chunk last year, I kept a small "hail mary" pot, but I have just sold it.

I wish Valirx the best and will enjoy any technological success they have. How can you talk about partnering up when the brokers around you want a 30-50% haircut every 2 months? If I had groundbreaking medications and results forthcoming, I would not be scratching around the chickenshed with these types of businesses.

Tarquin is quite a quirky chap in conversation. Seemed pleasant enough

Ha, OK that makes reasonable sense.

"Conditional willingness" hmm, this needs to be a real thing before the lawyer allows Satu to say it, right?

Lol

RNS meeting adjourned.

Embarrassing really.

It's a weird week on the market. Corona virus jitters, Saudi's and Russia arguing over oil, NATO running a major military drill in Europe, etc.

Hey Fred, no worries.

My question was meant as a polite enough question, but reading it back I did come across as 'slightly arsey' !

Fred, out of interest, who do you plan to takeover as project manager for 201?

There was that Victoria D'Arquino lady, who was running 301, but I do not think she has cancer focus, I think she was more into womens fertility/endo. Not a million miles away tbh

No particular update has been issued.

Apparently (I'm told) UCLH have formally updated the internal trial info to confirm Dr Mark Linch is the Principle Investigator (only happened in the last few weeks, presumably when the trial came to an end). But really that doesn't mean anything material

Christ, even if they pass the resolutions, assuming the broker takes 10-20%, we can only raise in the region of ~£300k.

Will that last us 3 months?

Look, if we have something, great, shout about it, sell it, maybe even ask our esteemed (imaginary?) partners to make a bid, because surely we are at the stage where either we have a sellable product, or frankly we all sod off and do something better with our lives.

We will have literally days of extra time per week to spend on more illustrious pursuits :)

I thought the wording was vague, but assumed it meant the end of the existing trial?

Or is he dragging it out for the phase 4 post market approvals? He'll be 65 soon (companies House info) so presumably he has an exit plan anyway.

You forced Morris out, that's meeting you halfway on the director front no?

Christ I didn't expect the end of a successful 201 trial to be this tragic.

Oh well, it's only money!

This is an odd trend, I can't remember what it's called??

Someone really went to town 13:00-13:30 !

Yeah, it is a shame, cause frankly 201 has the possibility of being among the better, kinder and higher earning UK drugs of the decade.

No excuses though, this has been a ******* calamity.