Member Info for Porky9

@PP

No, absolutely no surprises you are right, next to FA Revenue (they dont know what an invoice is) and increased admin costs as zero control or value for shareholder money. You trying to paint this as something positive is a disgrace. Let me spell it out:-

Admin costs just shy of £ 2m absolutely obscene for a small business with next to zero revenue in 15 years constantly constantly fed by shareholder cash, year in year out. Total loss allowing for grant money and a pathetic £ 49k of lab income £ 1,915,696 !!! Far too many people are paid ridiculous level salaries whilst having multiple jobs outside the business. Next to zero real focus imo this is a pure cash cow, feeding lifestyles.

So rough calculation, cash burn £ 160k PCM. The CAB figure to 31/12/24 declared is £ 1,555,986 so that gives them 9.7 months working capital from end of December last year. IE enough to pay September payroll (providing costs not higher than last year of course) then its lights out by second week of October unless he can get a placing completed before end of September which i think is likely.

So my best guess is they will want resolution to issue more shares and i would say £1.5m raise at .015 and then the forth 125:1 consolidation event after to bring share numbers back to a more manageable level.

Frankly im amazed the SP is holding up at this level, its ridiculously overpriced, there is absolutely nothing here and placing bolted on. Its either that or its admin and assets taken private in fire sale from the administrators. You wouldnt buy this as a going concern due to the extent of the liabilites its that simple. Who wants to buy a loss making lab in this climate?

@Uncanny

Well let's see the release of the financials which are overdue / due any moment? That will prove exactly how good cash control has been - i doubt i will be proved wrong on that one.

As for 201 merge in an SPV and it being a hot potato - good grief, talk about delusional. Setting up a wholly owned (more likely part owned - as they will likely cream a bit more out of it) sub coy at companies house and calling it an SPV for pence is not a silver bullet to increased value, was a few years back but market not so stupid now. Only thing that counts is a proper deal with cash transfered. Get a deal done first, worry about SPVs and sub coys after!!

As for loads of time, sorry but clock ticking now. DD on any deal can take 6-12 mths at best, so zero chance of any deal now pre next placement. I would say the next placing is already bolted on.

LOL

more likely, they will get in 0.15-0.20 in the discounted placing which cant be more than a few weeks away now. Having just kicked CLX down the road by another 12 mths which was to be expected, i previously commented that one was two or three more raises or more away from any possible chance of a commercial deal, as @Grainger14 put it, they "have nothing" here. This is the legacy ME inherited, evaluations neglected whilst Suzy played labs and to rebuild a pipeline now will take years and more raises, that's time lost and money you cant get back.

If you are holding out for cash to drop for 201, Jesus its older than hens teeth now, the tech superseded years ago, zero chance IMO and as for 401, really? Ambrose don't have the cash to pay VAL big upfront cash amounts and moreover in this climate faced with costs to develop 401, that's if its even worth the investment as its practically as old as 201 now, it would be utter madness to chuck cash on upfront fees.

Sorry but cash in can only come from investors, that's the reality now and the clock is ticking again,,,, my call is a discounted raise of 0.15 to get it away then a 125:1 consolidation event after. Place your bets.

@NH

Yep totally agree with you, watch this space

Rough calculation, 1.6m Raise start of December 24. Zero control on cash burn, zero revenue, business as usual, no accounts out yet so wouldnt surprise me if burn is higher than last years £2m loss, due to pay offs, call it circa £170k burn a month at best, that gives them 9.5m from start Dec raise. Out of cash before 30th Sept 25 by my calculation. Discounted raise to arrive anytime soon, sell into current SP, raise at .15 to get another £1.5m to cover the bubbly at christmas party and maintain lifestyles and a nice 125:1 consolidation event end of the year to bring shares in issue back to a more manageable level. Job Done.

Shareholders not only have the T-shirt, but its getting old and tatty now.

@fredd1eboy

You dont need to appolosie for ANYTHING imo and certainly not to Patrick. There were a lot of tricks at play in relation to this penny share including dubias twitter posts, remember the £65m on deposit ready to go nonsense.? Anyhow, i know you didnt agree on some of my comments but if it counts for anything, i think you are a genuinely nice guy, you just got caught up in the BS put out by experienced players with a sole objective of ramping this to to get placings away. Far too many decent people have lost money and becaus eother AIM plays have carried out similar tricks it doesnt make it right. Some of whats gone on here has been nothing short of a total disgrace and if the FCA had any teeth they should have been all over this long back.

Anyhow, you take care now.

Pork's

It's 100% only a trading share - i totally guarantee you will want another £1.5m quid to spunk away on bloated admin costs in about 12- 16 weeks time.

Best get pumping to sucker some buyers in to support selling into the stock ahead of the next batch of placing shares. Sorry but the game has been played now so many times it's beyond ridiculous.

And I am NOT Nick - a totally different analyst

I think you will get your 5p - Only problem is it will be after another discounted raise which will dilute SH to oblivion and a forth 125:1 consolidation event.

@nomlungu

That was exactly my thoughts, another jolly and £1500 for a table and more if you sponsor not to mention promotion costs, booze on the night - no problem though if someone else is paying.

This perfectly illustrates the lack of commercial acumen i refer to, you have to make a pound go a long way, its not free money. SH need a ROI is spending cash on a night out a conductive way to achieve this when they have no paid business and burning ever increasing amounts of cash. I guess next event to work on will be the Christmas party best book the champagne early and a nice trip abroard with some golf included - lovely

Oh please, ramping squad out again in full force to try and make something out of nothing, just forget 401 jeeze, Ambrose doesnt have a pot to pee in, if they raise any cash it will be to keep own lights on in this market not give VAL any and as already stated VAL own 55% of the asset, the other 45% went to directors and calved up to others for possible self gain, i think Suzy still has a chunk of that asset.

The only asset of any possible value imo is CLX but as i previously commented, at least two or three raises and some away and although Nick hopes it goes SPV in the hope of a dead cat bounce in the share price to off load, i say be careful what you wish for; could well go into an SPV like 401 where the directors steal a big chunk of that and the asset is not set up as 100% wholly owned subsidiary hence SH get all of the cost and even less of any potential reward.

@PP

Well by that logic you should go out and buy yourself a load of lottery scratchcards.

Only problem here, this one is more like buying a scratchcard to try and win a prize only to find all the proceeds go to the managers and they haven't put any winning scratchcards into circulation.

God the BS Spounted here in order to ramp is ridiculous.

@Stephen - forget looking at creating a sub coy and the rest of the nonsense - work on getting a licence deal. Get a deal with cash upfront and trust me on this setting up the infrastructure really won't be an issue.

All this sub coy SPV BS is just another way to try and ramp the SP without any substance. The game you are playing is so obvious it's painful

I can set an SPV up in less than 20 mins on companies house and well you know it. So don't make setting up a separate subsidiary and calling it an SPV sound like something amazing - its bloody not!!!!

I could set up a sub coy for every evaluation, what's the point, its still worth the square route of FA, get a deal first with some hard cash being paid upfront. Not likely!!!

In the past where setting up a separate limited company as a subsidiary, VAL owning say 60%, directors and all other parties steeling the 40% and calling it an SPV would work for a value boost, investors are more savvy than that now. been done too many times, stung too many times, not just here but on other lifestyle plays. Best i think you will get is a dead cat bounce, likely before its sold into for the fund raise that will happen. There certainly wont be any cash coming from licensing 201or CLX that's for sure but you know that already, to ramp to exit on the back of others and sell into a spike for a placing is the name of the game.

I never wish ill fortune on anyone but you deserve to get caught with your pants down doing this, its wrong Nick, people are getting taken in and shafted and they are not the directors on 200k packages for part time work.

And @Nick:

You keep referencing this paltry market cap.... Please do tell me would you buy a businesss that has been trading over 15 years, never brought any revenue in during all of that time, never proved its business model and has spunked up the wall probaby best part of £35m and has admin staff liability costs of £2.1m a year - answers on a postcard.

You wouldnt buy as a going concern because to get rid of the staff costs too much in pay offs and needs constant money chucked at it and if they went into administration i recon seriously ME could take any assets here from administrators, the lab, IP the lot anything worth having for under £ 100k - Imogens purcase of £ 400k or whatever it was, would be written down to £60-65k at best now, rest really is token change if anything. Nobody is in the market for a liability.

No Stephen, its about running a viable business. They have had over 15 years to prove the business model works and yes, i totally agree with @nomlungu shareholders do give a fux, they want to know that their hard earned money they have put behind this is being spent carefully, that every penny can go as far as possible NOT squandered on excessive pay and bonuses rewarding non delivery, jollys to exhibitions abroard whilst they get a round of golf in and salarys for mates that are WFH staff that have numerous other jobs. Sorry but its not good enough and Shareholders deserve better than that.

Thats how i see it anyhow, dont get me wrong there are other lifestyle businesses on AIM doing the same thing but it doesnt make it right but you keep ramping it eh in the hope of sucking some other poor unfortunate sod into it thats not keeping up.

In this market it is easier for small Biotechs to find Lord Lucan than it is to find a Biotech that will invest £30m+ in a drugs development trials program AND pay an upfront of £3m to VAL so they can avoid a further placing - sorry totally unrealistic

Well results statement due soon should at least confirm CAB figure. I bet you any money Nick that cash burn to to end of Dec comes in worse than last time and there will likely be pay off money after the accounting deadline for the directors that just left. I give it 12 weeks max and they will be in talks to sort the next discounted raise.

Your spin on events Nick to ramp this is impressive I have to say. Ask yourself: if business is good and a mega license deal with real cash (not fluff news with no money) is going to land in the next few weeks to stave off going back yet again another placing why did the only two board members with any real business commercial market acumen leave the business?

I wouldn't be leaving, not at this point, I would be shouting, look at me, I have turned this company around it's now self sufficient, I got license cash in of £3 m up front from X Biotech so no diluting placing required.

Truth is they went because cash is running low again, zero chance of hard cash comming in and they will need to spin the story yet again for the diluting raise and face SH that are sick of hearing it

You are right Nick, the lab, CLX and 201 are not worth zero. They are worth less than zero because they are a total liability for any acquiring party.

The admin costs are so bloated it's not viable. Labs hasn't invoiced a penny in years and you are expecting it to generate a net profit of £2.3m for the business to break even? Not going to happen sorry.

And as for 201 it's over 15 yrs old and out dated, no interest in all that time and CLX needs at least twonor three more raises to fund it.

Sorry Nick but to maintain lifestyles its more equity raises and as I say, why not, easy to do, they keep on coming...

Punt below .5....... and a 5 mth window

Not so sure Nick, i think in the dizzy height of AIM and punters betting on anything NFTs and all kinds of junk, casino like i would say maybe chuck in a few quid, ramp the price get out on a spike. Probem now is that the free money isnt swishing about for these sort of gambles, not enough mug punters about and you need those to cash out on the back of, thats the reality and far too many have already been rinsed here so far.

It should be deliver or die, but it wont be because he is sure to get more cash before this batch of cash runs out and he knows that - he can afford to treat SH with utter contempt because why not, cash keeps coming, 16+ raises and three consolidations proves the point rather....

Good luck anyhow, see you .15 placing soon...

Can't moneytise any of them before the cash runs out, its that simple.

CLX is a good two or three more discounted raises away and some. The 201 range is 15yrs+ and totally outdated, no peer reviews.

Best you can hope for is a dead cat bounce on some semi lame news that wont have any mention of hard cash being handed over but sounds exciting and might sucker a few in for you to get out on the back of.

Otherwise its a case of waiting a few weeks for the next discounted placing, agreeing to take a chunk at .15 or whatever and offloading into the current share price level at the time. Thats the reality.

You shouldnt be able to run a business where it keeps burning cash, living a champagne lifestyle on other peoples money, deliver nothing in return yet be able to keep coming back time after time to the never ending money tree for placing after placing and then a consolidation event. Clearly you can here.