Member Info for Oldgimmer

Should mean the SP will rise to this pre-panic last few days price and maybe a bit beyond due to shareholders jumping in again. I have not seen / heard what Trump has said , if indeed this has caused the rebound but if that is the case then I would expect the relaunch of those bonds to occur pronto before this idiot says something again to rattle the markets. The window may be small like his brain.

Been here many years. I am 65 years old but look 75.

Personally I think that if they had suspended the share then that would have sent an even worse message to the market. We are where we are now. We just have to hope that all is under control and that CF is being honest with us.

Hi All, Apologies if already posted but for those that have been or are still invested here that remember the time when John was a regular and avid supported of the science behind Valirx may be interested in a fundraising initiative which had been started on “gofundme”. John passed away suddenly recently and leaves a young family. Both children are autistic so its hoped we can raise an amount to help ease his wifes and family’s pain and loss.

Apologies if already covered but there is some assurance (at least for me) that the shorted position on the stock has decreased. I reached a bit of a low point with the latest news. There is no doubt raising the finance to build this mine has been in a period of great uncertainty so you have to give CF some leeway for that. But I invested here many years ago and one of the strengths of the project was the background of CF. So disappointed in both the dilution and now the latest news. Fingers crossed the bond issue will happen next month. Raising the cash to continue construction at a point where you could run out of money isn't a good place to be. In the meantime LTHs just need to sit on their hands and hope all will come good.

It sounds like you have already started :-)

In today’s times Theresa May reported to have approved a £500m government guarantee for loans Jaguar Land Rover need for electric car development and subsequent exports. Hmmm so looks like they can pull their finger out sometimes but obviously a mine Development in Yorkshire for which the timeline had been common knowledge for many many months wasn’t worth the effort.

Yes that’s why I invested plus the management had “skin” in the game. It is a long term investment but a bit galling with an average investment of 11p and no5 a lo5 of fun.

To the day. When I invested here I thought I was on to a winner. Now 50% down. At least. The share was always susceptible to low volume trading but the continual decline is very disappointing.

Dear oh dear. SP down 25% and you post this?

Its strange “uncanny” appears absent today. He is usually so supportive. Really sorry to see another share issue and the same glib reason ”working capital purposes” with no precise detail as to what that means and no end date. Around £50K of this will be for the directors. Consider the scenarios of further dilution over the coming month at 30% discount to the current market price and when, eventually, this finally dries up the IPs will be sold at a knock down price to another entity whose ownership is obscure. You would be left with nothing.

Apologies....has anyone worked through the logic of why existing shareholders were offered 1 share for every 22? I guess they carved up the total required and decided that this was the best they could offer existing shareholders?

Hi Uncanny, I would have put money on you would respond to that part of the post. Yes £692k but of course they may never exercise it. It is an “option” after all.

Not sure about page 41 but I will comment on the full set of accounts. Good news in fact as payments to directors fell to only 17% of admin and R&D expenditure an improvement of 1%. (18% last year) but...

At £585k or £654K (inc Desler bookkeeping and Chairman R&D) a 14.5% increase over 2017. Well earned I am sure in these high inflation times one does not want ones standard of living to fall and buy to lets are not as profitable as they were I understand.

Other interesting numbers around the bad debt charge. We sold a subsidiary in 2016 but never got paid. Well thats alright then.

And I see that the derivative charge of £425K will be settled to Yorkville by the issue of shares. So on current mid share price on £325K agreed settlement thats around 144m million shares to be issued. But I am sure the share price will rocket soon as the ‘’mega deal” is announced reducing this number.

On shares: 300m shares issued during the year and a further 150m issued after the year end although note 10 implies 300m issued after year end with 750m shares in issue. I’m not sure why that is maybe is Yorkville. But another successful year for fund raising. Don’t forget 260m shares need to be issued each year for “ongoing admin expenses” err including 600k directors salaries.

Admin expenses up by a mere 48% from last year explained by a £483K charge due to the 17.3m share options granted to our board members. They will have to pay 4p though so all investors can latch onto that as proof something BIG is coming along. Also an £85K increase in directors pay means “ordinary” admin costs up around 10%. Cost control is a strength in this company.

Remember this company is run for the benefit of shareholders.

Apologies if any of the above contain errors. My calculator sand brain struggle with the decimal point with a share worth about 1/5th of a penny. On reading I may have taken a slightly negative view of the results :-(

The abbreviated annual accounts published show admin expenses up 48% a derivative loss of £400K and a bad debt write off of £506K. Do these reflect a well run company? They do reflect a company that does not give a toss about its shareholders but only cares about raising further capital at any cost. There is no accountability to shareholders, the management team have no skin in the game and are happy to continue pulling their 500K a year in fees. You invest here at your peril there has never been a successful launch of any commercial product.

I included any associated transactions but there were no consultancy fees.

Hi Roses i did wonder wether I had missed something else. I wont rework though i think it makes the point.

SP at 31 December since 31 December 2016 in pence (approx):
31-Dec-06 27.750
31-Dec-07 10.030
31-Dec-08 4.750
31-Dec-09 1.380
31-Dec-10 0.240
31-Dec-11 0.520
31-Dec-12 0.440
31-Dec-13 0.310
31-Dec-14 0.230
31-Dec-15 0.042
31-Dec-16 0.042
31-Dec-17 0.040
31-Dec-18 0.006
Current 0.002
In the year ended 31 December 2015 there was a share consolidation. 1 issued for every 125 held so I have divided the year end share price from that year on by 125. Our BOD have ruled over a 99.999% reduction in value in your investment

They are a little late this year? Last year published 10 April 2018 and for the previous year 5th May 2017. Just to remind everyone that just under 18% of research and development and administrative expenses for last year was paid to directors in one form or another. Another great milestone achieved for the Valarie group!

Yesterday’s Times reported the Governments plan to restrict the tax credits to loss making Research and Development expenditure for Biotechs. Whilst not changed yet if it does this will restrict cash flow further. I no longer invest here but keep looking back at it and I am afraid it is still a very sad state of affairs. This company, I am afraid, is going nowhere. If they had something worth selling do you not think that a major company would not have snapped it up? The lack of significant holdings by the Board also tells a tale in itself. I will be castigated no doubt through this post but its an honest opinion. A very high risk company for which only the paid directors will benefit.