Hmm it does stink that the VERY late reported TR1 was from a holder of nearly a quarter of the stock sold down to 7%. What do they know?
Based on current activity it looks like they are working to dump the rest?
@jimbogains
Don't follow your logic.
Thx is and still remains a potless start up. In the unlikely event that it merged with EUDA it would still need to go and try and raise funds on the Nasdaq as a new legal entity. It’s not going to happen in one week is it.
Meanwhile, EUDA trades on VERY thin volume. It’s SP has collapsed from 10 usd to under 2 usd it needs a multi fold increase for investors get money back. There was 63k of volume on it Friday, it’s really not worth talking about. Unless you hold the stock not sure why anyone cares about its Share Price.
The best thing that can happen here is for Suzy, Kevin and Gerry to be removed from the BOD but on the basis that the requisition notice was withdrawn, SH have been denied the opportunity to remove at least two of the dead wood. Annoying.
I await to see what if any changes come but as it stands all that has happened is we now have four more mouths to feed (2 NEDs supporting Suzy + 2 from the requisition backers) helping burn the cash that bit quicker.
Why the requisition notice was withdrawn is beyond me.
@PM2022
yeah and penny placing in July, highly likely, reduces your investment by another 75% from here.
AT 4p this is VERY expensive based on the current BODs expensive cash burn decisions
This situation can only change and improve once the dead wood is removed and new BOD in situ.
Meanwhile traders will continue to play with it whilst it remains totally uninvestable
1. SP of EUDA over a year is down from 10 USD to 1.60 USD. It has to remain over 1.45 USD otherwise it gets delisted. It’s bouncing around that price on VERY low volume by traders.
2 The evaluation period of the merger finished last year and was not nor did they mention in the subsequent update that talks were ongoing, they don’t need to advise the market further.
3. Confidence in the BOD regarding the handling of 201 is shot due to the appalling way it’s been handled. I’m not even going to list all the blunders, it’s been covered to death.
4. granted that THX would benefit merging with EUDA but EUDA could find a much better suitor. It’s been discussed to death; even as a merged entity THX would need to go on and try and raise cash with no guarantees. Any new legal entity created would need to renegotiate terms regarding the LOI from back in 2021 anyhow and finally as again already discussed the tech from 201 now being over 15 years old has likely been superseded anyhow not to mention it needs reformulating and a new patent as the last set of patents expired last year.
As per usual @PM2022 you are posting utter cack
@Andysel
Thanks - OK lets see how events unfold and what the BOD looks like going onto H2
I hear you regarding voting on new BOD additions at the AGM and that part is fair enough but, i think most of the frustration here is that for this stock to ever have any chance of recovery the current BOD MUST be removed, ie Suzy, Kevin, Martin and Gerry MUST all go and it doesn't feel like that will be a reality as it stands.
By withdrawing the Requisition Notice it has enabled two of them straight away namely Kevin and Martin to avoid being voted to be removed. I'm also not convinced how "active" Suzy will be in looking for a replacement CEO for her but lets see.
Only true thing @PM2022 you have posted .”401 and 201 have already been given away” too true they have, one to a potless start up that has failed to deliver at every turn and one to a potless phoenix business trying to raise cash to keep itself going.
Some of her commercial decisions have been absolutely shocking that’s why @ValJu you need a CEO with strong business commercial acumen to drive this, leave scientists to do science work.
Don’t mix chickens with foxes
@TDK
She is not going anywhere just a rebadge and continue on the BOD as before. And following yesterday’s RNS neither is Kevin, Martin and Gerry. They will continue to milk this cow for all it’s worth until death spiral finance is introduced through to lights out.
All that has been achieved is four more NEDs have been introduced, two from Suzy and two from the Requisition notice issuers team. Four more mouths to feed to help burn through the remaining cash runway quicker.
Totally Pointless chain of events as it stands
Don’t have sufficient data on this one.
So they are managing debt levels at 16% interest rates out of future revenues but there is a stock conversion clause? Anyone care to enlighten me what happens if they default or can’t pay the loan back does it convert at discount to the SP at the time?
Thanks
@IM - A stock is NOT always cheap because its SP goes down.
This stock is VERY expensive based on where the business is at today and now has FOUR more non execs to feed whilst the new BOD is decided on.
NOT one of the four directors that needs to go has gone meanwhile cash burn has increased.
Acid test for me will be what the new BOD actually looks like ready to go into H2.
IF the entire BOD are staying including Suzy but with a different title what will be the point of this???
The raise will happen, make no mistake, with the increased costs of four more execs to feed cash burn will run out even quicker now. New BOD will need a decent cash runway from start of H2 1/7/24. There are lifestyles here that need to be maintained.
See how events unfold - Kevin, Martin and Gerry ALL still need to go and SUZY removed from a BOD position completely.
Well all that has happened is the cash burn has gone up with two more non exec appointments to feed whilst we now sit and wait for a new CEO, no doubt Suzy becomes some science director still on the dam board when that event happens and probably retaining her current package - joke.
By withdrawing the Requisition Notice then i take it Smug Kevin is remaining as chairman on the board along with Martin and CFO Gerry. What was the point? We now have two more NEDS to feed on top of the two yes NEDS that Suzy proposed! You couldn't make it up. FOUR of them now to pay!!!
Frankly out of the three proposed newbies it was ONLY Benjamin Snipe that i wanted as he has vast Patent Experience and could have been useful.
Well done Kevin and Martin being able to save their ass , well done Gerry for escaping this entire event and well done Suzy you can milk it for longer now as CEO and then continue on the board with your benefits. Nice work.
Not impressed that the Requisition has been removed saving TWO that need to go just to give this Adrian guy a position on the BOD as a NED.
Stock remains Uninvestable and it will be interesting to see if they will be able to secure investor support for the placing from H2.
I’m sure American SH will be jumping for joy with the increase to 1.60 USD just another 6 fold increase to go from here to get their money back.
I think the EUDA SP has performed almost as badly as this one, well not quite as bad but certainly in the hall of fame of lost causes
@PM2022
As I posted last week, I suspect you are either married to Suzy or a connected party in some way as nobody in their right mind would back keeping both Suzy CEO and Jerry FD on the BOD - No way.
As for your counter to my point about adding new additions, I don’t agree and further I think many many investors would share my view:-
They are currently wasting £600k adding to the biobank and a further chunk of change to promote the lab.
Meanwhile a new drug addition evolution was costing £75k to £100k per go. Hence I would rather 7-8 new drug additions to be developed rather than waste that cash on that biobank that Imogen had already spent millions on and still couldn’t make it viable.
I reckon if you asked anyone here where do you want your investment spent labs or evolutions, they would pick drug dev all day long as that is what many originally came here to invest in, to try and make a difference. All sense of perspective has been lost by the BOD if you ask me - that’s how I see it.
And finally, investors didn’t tip cash up for this to pay bonuses and perks either. It’s totally shameful the events here frankly
The following events need to happen:
1. New CEO with Commercial acumen and new CFO with solid fiscal control need appointing to replace both Suzy and Gerry. Long overdue
2. I am 50/50 if Suzy remains in some science position or not but certainly NOT in a board position.
3. New BOD to bring cash burn under £1.5m a year. No more wasting cash, a strong focus on revenue generation. No revenue in 15 years is unacceptable.
4. A solid plan to break even with the labs. No more money wasted on biobank building, use the cash to have a sales and marketing team to get lab business in, Replace Mark with a BDM capable of winning paying clients. If they can’t win lab work to cover its costs with the facilities they have in a reasonable time frame then close it down and revert to outsourcing. I also want to see quarter reporting confirming what actual revenue the lab wins. If it’s zero I would want to know why that sales team can’t win sales.
5. New BOB focus on adding new evaluations across the biotech space. At least 9 new evaluations to be added over the next year. Investors want to invest in something that can made a difference to cancer not in a bloody lab start up. Focus on what’s important.
6. Total honesty, no more “mushroom management” of shareholders. If an evaluation doesn’t work/ can’t be licensed/ be honest and draw a line under it. Not everything will be a winner, we know that but frankly I always say that “it’s better to be slapped in the face with a truth than tickled with a lie” and shareholders have had enough false lies here for a lifetime frankly. Time for a new and right way to do business.
7. For Gods sake, kill off this ridiculous ongoing nonsense with THX, they have never delivered, it’s been a total albatross around the neck, time to call it a day and move on.
If the new board can get formed and deliver on the above, then I’m in at the placing. If it’s more of the same you can count me out.
Step 1 see what happens end of April EGM will we have new chair by end of May? Step 2 can the new BOD be in situ for end of H1 will Suzy/ Gerry stay or go Step 3 Will the new BOD raise the required funds from H2? I say yes with above, No if there is zero change. Nobody but nobody will invest and back this for more of the same.
Change has to happen then the SP has a good chance to recover. Good Luck
@PP
Cheltenham Winners... well if you are going to gamble you will probably getter better odds at Cheltenham frankly.
Betting on the Valirix Horse is akin to sticking cash on "Dobbin the Pantomime Horse" to win the Gold Cup.
Take Care
Pork's
"Suzy" and "delivers" do not go together in the same sentence
I would have more respect if she stood up and said "hands up, i royally fc'ked up giving 201 to THX i believed in all their BS and should have know better - i'm sorry" rather than this stubborn, dig heels in the ground with attitude of "i'm right and i'm going to prove you all wrong, what ever the cost to you"
Absolute farce of a situation frankly and why the Requisition notice being voted on at the end of April hasn't got her name on it is beyond me. I think the new proposed board are trying to kill it off completely before they have chance to even try and fix this mess. The CEO has to be replaced end of.
Problem is with a suckers rally is its like a Ponzi scheme, you need new suckers gullible to buy in at the higher prices to allow those that started the P&D to get out for a few percentage points.
Mind you a lot of punters treat the AIM market like a glorified casino half the time these days...
Anyone that carried out any research here would know with a Requisition Notice in Play the stock is completely uninvestable until the new BOD is formed and an outcome at the end of April EGM, then there is the small matter of the capital raise to follow that once new board in situ for end of June ready for H2 a penny if lucky IMO.
Just amazing
@PM2022
You are the only voice that wants to retain Kevin and Suzy. Be honest, are you Suzy’s husband or a close relation or someone that is a mate of hers? I just can believe anyone in their right mind based on the proven performance to date would think that a good idea.
BOD changes can’t come soon enough, roll on end of April EGM to make a start I say