Member Info for Pharmhall

Wozzer....FYI, all US filings are available free of charge on the SEC filing database...referred to as Edgar (you will see why in this link). It is incredibly useful and well worth having bookmarked!

https://www.sec.gov/search-filings

Yes it is available! It also makes for a good read:

https://www.sec.gov/Archives/edgar/data/2066926/000182912625007461/guidentcorp_s1.htm

First, I am a TEK shareholder and think we will do really well. However, I want to comment on some of the previous posts. IMO, any shares issued as part of the IPO (good news) of GDNT on NASDAQ will only raise new capital for Guident. TEK would need to sell (unlikely) concomitantly some of its shares as part of the IPO process in order to "receive" any actual cash. GDNT will need lots of cash to progress its proposition further, so I expect the IPO raise to be very significant (and dilutive) and remove this potential burden from TEK. Consequently, TEK will end up with a very much smaller holding in a potentially highly-valued company, which can be tracked daily via the GDNT share price. If the IPO goes well, then I would expect TEK to gradually sell down its holding to realise some cash for its shareholders. Trying to second guess the potential benefit of the GDNT IPO is virtually impossible at present, but I think the impact on TEK will be much larger than some of the figures suggested in the earlier posts. Patience is a virtue.

While there is good argument about the market size and potential for kidneyintelX.dkd and potential market size, Renalytix has failed to get any traction to date. At 31 Dec 2024, RENX had $9.2m gross cash and, even with projected administrative savings in 2H fiscal 2025, about $6-7m of this will have been used by end-June. So, today, the coffers are almost empty. A Placing is inevitable and it will need a big discount top get it away. IMHO.

Interesting thoughts JL...but this is just where our opportunities arise. The herd effect of fund managers seeking to beat their peers by 0.1% is staggering. That is why I always rated Fidelity. If it like a company, it wanted 10-20% of it (depending on size of company); and if it did not like it..it did not own any shares at all. Sticking your neck out is how you how you beat your peers. Same with us retail investors....I hate Construction and Property companies (all on debt), Retail (my family is spending less across the board), Utilities (boring and regulation issues), so do not own any of them; conversely, I took a view on Banks (benefit from interest rates and recovery), the Life Assurers (premiums rising and consensus on market), Miners (particularly those involved in Gold, Silver and Copper where you can see daily prices), Defence (has been, and still is, a no-brainer)...so I will leave you to guess my performance over past 18 months! Add in a few spicy small caps to trade for fun...brill! If valuations of quality companies fall because of the lack of interest from our esteemed institutions, a predator will snap them up...all at a very good premium...but to the demise of the London Stock Exchange.

If it goes to 123p....I'll be off to Bahamas for a six-month holiday!

Very good, clear presentation with IM just concluded. CEO competent; CFO is very impressive. Several posts about ARR. CFO stated that 71% of the $10.9m revenue in 1H'25 was ARR (i.e. $7.7m) and this was up 23% over the ARR in 1H'24. It is clear that 2025 just need to be got through with the new accounting policy and this will provide much better growth comparisons in the future.

Easy mistake to make. I have done well on Ashtead Group over the years and sold only last week after the recent strong run. Ashtead Technology is a completely different ball game. What I particularly like is that the shares have been on a downward trend, so I don't feel that I am over-paying. I'm looking for a strong recovery over the next 12 months.

AD....I disagree with you. GST was happily trading around the 1.2p level when the announcement about the delayed accounts and, consequently, its impending suspension. Since then, there has been little news of note and there was nothing in the accounts to cause concern. I knew that many people would not want to be locked in to a suspended share and sold their shares in the 24hr opportunity to do so. I took the opposite view and bought heavily between 16:00 and 16:30 prior to suspension, as I was confident in getting a good return as soon as the shares were re-admitted to trading. While it might not go straight back to 1.2p without further news, 1.0p is a very good first stop.

JL, RM...Thank you both for all the recent information...very helpful. While I still really like MSI, with the sp approaching 1400p, I have taken a little money off the table from both my pension (sold all at 1380p) and my ISA (sold just 10%...its a 7-bagger for me). Onwards and upwards.

RM...I've reinvested MSI cash into Ashtead (AT.L) given today's fall, which I have been patiently waiting for. I think most of the bad news is known to the market (interims 26 Aug) and in the price. Also, its moving to the main market on 6th October which should attract some more institutions.

Management giving very positive investor meet presentation at moment. Trading clearly very strong and company has clearly increased EVITDA guidance to above £6.0m for 2025...hence Cavendish upgrade. Presentation well worth listening to.

Agreed ...and saw the article by Rheinmettal. Do you know how the MSI ant-drone device compares with the figure ($20k) given by RM?

Watching the acquisition of all these stakes in various companies, culminating in that list in Friday's RNS, I was naturally inquisitive about MET1's cash position. Tracing it all the way back to 31 Dec 2024 (last accounts), I think the movement in cash generated a gross cash position of ca. £4.8m at end of June, and £9.5m currently. This highlights all the cash raised from the exercise of all those warrants. Please note that these figures DO NOT INCLUDE the administrative costs of running the company, which we will learn more about with the interim results due at end of this month. I feel much more comfortable with MET1 having completed this exercise.

You're missing the point. The fall in sales, margins and hence profits has been well flagged and, whereas NXQ normally has a stronger H2 vs H1, it was the opposite in 2024, so the comparator for 1H'25 was particularly tough. This story is all about the new management team (credible), putting into place a three year plan to grow the business, with 2025 being the first year in the transformation. The company has several very strong customers (e.g. GE and Roche). The presentation (Investor Meet) was very clear, well presented and spells out expectations. The stock looks cheap on bottom of range 2026 forecasts and incredibly cheap on 2027. It all depends when you expect this to be reflected in the share price. I'd rather be in early than miss the boat, and am comforted by a healthy 5% dividend yield while I am waiting. Credibility would be further improved by the new management team buying some shares in the market.

Thanks RM....enjoy your walks...it's p***ing down here, so you're not missing much.

While it involves only relatively small amounts of actual cash, it is still good to see the Directors sticking their hands in their pockets. The fact that the sums involved are relatively small is almost certainly the reason they had to buy in the market. First, if they are not registered with an institutional broker, they would not be able to participate in the placing. Secondly, usually when point 1 occurs, they participate via a Subscription agreement. However, the lawyers costs of drawing this up and activating it would probably be about the same as the investment itself , so not worth all the fuss (only works if Directors are putting up >£100k each). So what they did shows good commitment and support. I'm happy they made their investments into the company this way.

I noted that Directors bought only last week at higher prices and again today. Surprised that they did not do a subscription along with the Placing. Anyway, to cut a long story short, I have just joined the Directors and bought for first time....also dealt at better price than they did! Fingers crossed.

Is anything coming out of DSEI to explain the sp rise? I have searched and cannot find anything.

It was only a trading update back in August. Last year the complete interim results statements were on 17th Sept, so 16th is the equivalent date this year. I want to see the full statements and an updated outlook statement.

Really good results today and positive outlook statement. I really like CNC for the long term, but have reservations at this level due to the rating. Even on raised forecasts it is on around 28-30x 2025 P/E, falling to 25x 2026 EPS...so good news is all priced in.