Member Info for PC01

Of the money spent defending the patent....

I left the meeting considerably more optimistic than I arrived, but i think is the nature of the beast...firstly the 'bad' news if this is such -
Little or no chance of being FCF +ve this FY... but should turn a profit in 2020...Spire has not been lost, purely a function of Trump's tariffs and where their manufacturing capability for that product lies (in china)...so trade treaty = immediate relief...
I hadn't realised - call me stooopid - that TDK was signed rather than taken to court for infringement of patent...a few more like that I think to come...the patent defense case has cost c A$70k so far...expected returns in the multiples from Ioxus case...
Auto deals - yes defo coming - 4 uses - windscreen, key fob, car door and dashboard...talk of 10mm units in 5yrs + time, so a big long term deal...
Increased Roche deal coming for insulin injecting / diabetes support...been 10yrs for Roche to get where they wanted and specific request to CPX to keep manufacturing for them...
3VX rollout still as expected...
Monies raised in october have been spent retooling manufacturing capability in Malaysia to meet demand...
Marco Ranalli appointment good news...already talking with Volvo...he's on a v low base salary (I mean low) and will be paid in shares / options n cash on performance...looks good, makes sense.
AUD$25mm of 'orders' received...inquries high, still believe they are best in class for what they do...
So no horrors - definitely behind where they wanted to be re timing but some due to delays absolutely beyond their control. No expectation of any further cash call, equally in no position to buy any stock here. I irritatingly did not ask why the board wasn't loading up here...
My view on shares...well the 3.85p chart call was much more right than my investing skills. i will buy more, i think I have to and I think other similar sized holders will do as well...I still maintain this is a long-term trade and your target should not be just to get back to break even (which seems a distance away).
happy to try answer any other qs...

No pressure then! Let's see what happens..been a miserable few weeks and months...but I hope to report back on a few of the Qs that have been asked...but importantly for me tbh are the answers to -
Why did you raise the money if you didn't want to increase manufacturing capability
If it was for an increase in said capability, what's the reason for the optimism
When do you expect CPX to become FCF +ve
I have absolutely no problems with the need to be patient...I do have problems if fund raise after fund raise is done with no further advancement...the problem with yesterday's RNS was disappointment from Spire and the promise of jam...not sure that was worthy of a 25% fall...except as one can read on here we're all a little bit tired of vacuous promises of said jam...
So will likely post later this eve...
GLA.

i don't know who is more deluded TT...you commenting about large buys after a 30% fall or me for buying lots of stock at 8.5p!

In fairness, I'm really not sure what there is to worry about...the share price will look after itself, however much he doth protest, and I dont think any of us care a tinker's cuss about where the SP trades today or tomorrow... the company has plenty of cash in the bank and coming, the price of oil is our friend and we own 2 substantial assets which will keep the cash flowing for many moons to come.
But Mc91 I think you are spot on - he seems most likely to be either
The brilliant self styled trader who filled his boots in SLE shares at the top and got badly burnt
or
An (ex?) employee who thought he'd be receiving shares and options to keep him in guiness for the rest of his life but lost that opportunity when he lost his job....
However, it's probably a job for Monsieur Clouseau rather than Poirot methinks...
Talking of lost posters, where the hell is B7 :-)?

Sad to report we will have to wait for a couple more days....AK is no longer free on monday...so its Wednesday instead....still think we should be getting some news....good weekend all.

The Directors (together with their families and their family trusts and pension scheme arrangements) in aggregate hold 309,590 ordinary shares in the Company, representing 0.98% of the Company’s current issued share capital.

36.37% of the issued share capital is not in public hands.

45% held by Woodford and Arthurian...

not much of a free float in answer

Points taken - quite a lot of points taken...I will report back hopefully with some news...tho be surprised if the April update isn't out by then? I hope he has plenty of time! Love to know what's behind the last 2 days volume...2.5mm shares traded...seems like same seller given sizes advertised (I think) ...but impressed the price has held...

If by tapper you mean poorer...bloody right!

What on earth are you asking MC?? The shares have been sold by one holder (Schroders) and bought by many others (the you's and I's) via a market maker who will have known there was a huge seller about...there are still the same amount of shares in circulation today as there were yesterday and will be tomorrow. The only change in that number will come from further issuance (aka dilution) if the company wants to raise more money (possible tho not sure who invests more until we get more clarity) or if the company is so full of ££ and doesn't know what to spend it on...not likely in this case.
Further insight into Schroders...they are an active fund management company. They manage huge quantities of money from retail investors to huge pension funds. They bought JOG shares on the belief that verbier would hold rather more oil than initial drill results suggest. Once the fund manager sees the result, like all of us, he will have a judgement call to make. Do I hold, buy or sell? Given he will be seeing hundred's of opportunities like this every month, his judgement call this time was to bail out. Price is of no worry. get me out and let me focus on making that money I have lost my clients in another area. I truly think some of the vitriol pointed in their direction is utterly unfair. They owe no one anything - their sole mandate is to make their clients money. End of.

Good to see the directors spend £2million of their own money buying some shares today - after all the news...and the 4-fold rally from the lows...nothing like confidence from on high.

Nothing more than thee or me...it’s cheap here and for the next £3...if it had risen from 2p to 2.3p it wouldn’t be worthy of a second glance! But £2 to £2.30 is much more eye catching!

Gentlefolk and ladies, I have been given 2 passes to my meeting and am taking along a fellow investor who put me into this bloody share all those years ago! However, in the light of complete transparency i would like a proper wish list of questions you'd like answered - i was thinking
Murata?
TDK?
Spire sales?
Auto contract - any progress?
Manufacturing capability - any need for increase
If not, what are you doing with that money you raised?
Whinge about lack of communication that leaves the equity floundering for months on end...
Court cases?
Anything else that I'm particularly missing?

Yawn, wake me up when it gets to 3p which is my average all-in cost after the 46p tender or 75p which is where the company will next try and prize stock from my hands, I reckon. Til then, not sure I get too het up about the odd 2-3p move in any direction. Plenty of cash swilling about in the coffers, Brent at $70, eroton producing, what's not to like.

Apologies to all - agreed...for some reason i only read (chose to?) the hRPC...

...its been great the chatter on here...lots of info and a few questions...however, when i invested in Reneuron, like most of you, all those years ago it was because of its stem cell technology, but with main regard to stroke victims. If you read the opening paragraph of the 'About' us page - http://www.reneuron.com/about-us/about-reneuron/ - it reinforces my view that their lead candidate for success is their stroke therapy.
yesterday's tie up with China's Fosun group was for the eye treatment...that headline is what caught my eye and sent the shares up ...it wasn't even the best hope in the classroom that was getting straight As and its garnereda huge investment to build the therapy in just one part of the world....so, if / when we get further news of the stroke therapy I am assuming the move from 40p to £2.25 will be look like base camp en route to the top of Everest. As one sage said yesterday, if you are lucky enough to have got long at decent levels, do not let a 10 or 20% pullback, which will be entirely healthy given the speed of the ascent, force you to abandon the climb. Anyone who has climbed a proper mountain knows that for every 10 yards gained you have to give back 1 or 2 to avoid altitude sickness. It is my honest belief that we are merely talking to sherpas about our baggage...we haven't even started the climb...good luck all.

No Canaries you are absolutely spot on - it might not be impossible that mr retired banker actually sold all his stock at the lows of 45p and this rally is causing him a great deal of indigestion...to reiterate the Fosun deal is purely for China and will ensure that this basket case to use Mr RBs words will have plenty of cash without a further dilution...
One other point for Mr RB. How do these terms that Reneuron has struck differ from any franchises that MacDonalds for eg will strike? An upfront fee, further payments on milestones and yet more gravy on actual £££ made??? I would suggest the terms struck are by a company very much aware of its potential and not one that is handing away the Crown Jewels. Plenty more upside to come methinks.

but what i think is the really good news here for shareholders is any threat of dilution is now surely gone....there is a little 'jam tomorrow' in the RNS but I think we can live with that...after a few disappointments of late, this is the 33-1 outsider that I had kinda forgotten I had backed...those broker estimates of between £6 and £9 are rather more plausible...

FYI -
Detail on a broadly in-line set of numbers: FY18A production pre-released at 5.4 kb/d; Revenue $108M vs BBG consensus $117M; EBITDA $34M vs cons $37M; cash $43M vs cons $44M. The revenue miss is on the timing of sales vs movements in Brent in the year. A $13M working capital outflow and $3M cash taxes led to $18M net cash generated from operations. The company will host a call at 1430 UK time.

Trading close to Core NAV: See Figure 1. The shares are currently trading close our proved reserves Core NAV, i.e. attributing no value either to probable reserves at Platanillo or the exploration portfolio. Recent workovers have been successful at Platanillo at the field is currently producing close to the top end of the guided 3-4 kb/d range; in addition the Indico-1X well is back up producing at 5.0 kb/d gross, having been shut in during Q1 for drilling of the Calao well.

I'm pretty sure those are late reported trades from this morning (you can see the time stamp)...but the size of the trade meant that the market maker took the stock down 'on risk', which meant that he didnt need to reveal the trade until after or at the close...