Member Info for PI100

HC, indeed. Never claimed to be an expert, look at the charts etc., just on gut feel and sentiment really as the significant drops are usually a result of dire RNS statements, as we had last week. Today is certainly a surprise but personally it means very little given that a 10% rise these days is just mere pennies and is more often than not very quickly offset by either a big drop over a few days or death by a thousand cuts over a few weeks. I certainly won't predict when this rise will end but I wouldn't be shocked if it's red again from Friday/Monday for a couple of weeks.

HC if you’re referring to me as one, hmm I tend to reply when up and down.

Amers such talk happened when we spiked all the way to 80 ish then we dwindled down to mid 40’s again.

So assuming a similar non YG cash burn in H2, the YG acquisition has cost us over £30m? For an almost bankrupt business?

Amers, yes unfortunately I do think they'd still be here. JW somehow got a huge majority in being re-elected (absolutely baffling) and so I'd expect him to continue running things as he has been. No decent CEO will touch this (unless the salary is far too good to be true) until the dispute has gone so presumably we'd continue bumbling along with JM. Re the cash being gone, I guess we wouldn't be far off if we continue to see eye watering losses, but maybe £44m could last 3 years (excluding acquisitions) if we cut enough costs.

Decision already made? It’s January, the case isn’t until and that’s before any delays.

Lots of cash? Yes maybe but two years ago we had £100m, we now have £44m. YG aside, that isn’t a pretty picture. We could realistically be sat here in 2 years with £0 in the bank and same incompetents in charge. Well, I certainly won’t be here but ncyt itself.

Over 18 months of closed period, HC? There has been nothing stopping them investing since July 2022.

He can’t do any worse, give him the job.

Amers, means nothing. Just checked AJBell and fine to buy. Problem is, not a single sole wants to.

"we might think them incompetent but i don't believe for a second they themselves are all self-aware enough to agree with that conclusion too. and we know the likes of lr will have received well over half a million in cash following the acquisition so i don't believe for a second he would be unwilling to throw say 5 to 10 percent of that into his latest venture, one in which he'll be itching to climb to the top of."

if he got £0.5m and is on a salary of maybe £0.3m he might have zero interest in buying shares and may be just in it for a couple of years of easy money. why risk 25-50k which could go to far better use (fairly sure he has a decent financial advisor)? this is not me saying that is what he is doing but just theorising. i won't lie, if someone said to me "here is £0.5m plus £0.3m salary + benefits in a company which, to be honest, is dying on its ****" and i didn't have any comparable offers i would 100% take it. i certainly wouldn't invest in said company. couple of years of easy money in which time i could be lining up my next move. on the flipside, he may really believe in the company and be desperate to throw his hat in the ring.

however, all we know currently is that we've not had a director buy for over 18 months, so make of that what you will.

HC, fair but I totally disagree about 2x net cash, what is that based on? We are a massively loss making business so surely the market would price this in? They can see that the management is totally inept and there's no big demand for the products so what exactly is going to persuade them to price it at 2x net cash? Surely with diabolical operational performance (which is what we have), no forward outlook in every rns (tangible stuff not just AI generated marketing speak), losing millions per year they're not pricing it at much more than net cash at that point in time?

What if the dispute is delayed by a year, 2 years etc.? Cash dwindles, losses rack up.

Swag how do you think it'll get to even £2? That's over £140m marcap. We have cash of £44m which could be circa £40m by June, do you honestly think we will get £100m+ from the dispute? Cash balance is the max we can be valued at when the operational performance is as bad as it is. Acquisitions so far the jury is out as all we have done is overpay for a company on the brink of going bust.

i couldn't care less anymore, i've done 90% of my investment in this ****e. as i've said before it's just in now for a spin of the roulette wheel re the dispute. doesn't matter if it's 40p or 15p by dispute time.

Said no one ever. No one with a brain cell is buying this

Profit is soooo 2020. We’re over that now.

You honestly think this can rise by 203 pence? It is currently 47 pence and freefalling. Where does 250p come from?

Probably learned the lesson from the following

07-Jul-22 07-Jul-22 Buy James Wakefield 117.00 GBX 7,000 43,839

25-Mar-22 25-Mar-22 Buy David Allmond 231.00 GBX 43,500 43,500

Not a single director buy since July 2022 tells the entire story.

Val I am a long term holder. And noone is buying, clearly. Down 6.3% at time of writing due to yet another RNS with zero substance. Unfortunately buying in here now, whether old or new investors, is literally like a spin at the roulette table.

Makes sense really EX given that the PD side is dying on its knees. Looks like 3/4 months of YG revenue is not far off 12 months for the rest of the business. Very interesting to see what happens at the top as it is clear that there isn't room for JM and LR.

Strategy

The Company is focused on leveraging its core strength and expertise in cell-free DNA applications to deliver long-term sustainable growth, by increasing market penetration and international sales of key products, expanding its portfolio, and pursuing strategic business development opportunities to build a global molecular diagnostics business.

They must have been playing business cliche and jargon bingo when composing this. Unless Chat GPT did it. "Chat GPT, we are a diagnostics business, please write a 3 line buzzword summary which has absolutely no substance whatsoever"

Fair enough HC, and I agree about no rerate and I suspect we'll just drift down now towards the 30's as we approach June. Like you say it's much of a muchness. Lack of forward guidance isn't a surprise, first 6 months of the year is likely a write off and then hopefully we can kick on if the court case actually goes ahead and we get a netural or positive outcome.