Member Info for Porky9

Look this is another one where the Directors previously drew the best part of a million quid a year out of it for lavish lifestyles. They only started cutting cost when they had no option, the last raise was subject to that. Old habits die hard, we await to see the full effect of the cost cuts.

Meanwhile, the proof is in the delivery, the H1 confirmed figures were appalling, lets call a spade a spade. Talk of BIG orders worth millions yet they confirmed further declining revenues and Delivered revenue less than my local cafe. No idea why a projected massive order value only results in a paltry actual invoice raised and paid but that was the reality.

Now benefit of the doubt and all that, they may have more jam tomorrow, sorry i mean pipeline, do forgive me but, will that convert to bottom line cash taken in invoices actually raised and paid into the business in the H2?

My call is despite a willingness not to want to raise again so soon, I don't see as they have an option. Unless something material fully paid up lands sharpish, a further raise to meet the current plan objectives looks inevitable to me now but WTFDIK just my opinion. A top up £3m raise at 0.50 or 0.40 would that be enough? extend the runway by 10 months to allow cash to actually land? Not sure

Be interesting how this unfolds short term anyhow, this play is not for widows or orphans that's for sure.

I originally thought they would launch this at the same time as the British ISA but i still think this retail offer will happen, lets face it the new labour gov will need to get its hands on as much cash as they can, the till is empty and this is low hanging fruit to get some quick cash in.

Tell Sid 2, lets face it will be all new and exciting to next gen who were not around the first time. I will likely chuck £10k in for each of my adult children in their long term savings but i cant see me taking a large position myself. 1 share for 10 is not much of an incentive really is it. SP has rallied from £1.75 to £3+ already over the last year, so it would take more than a 10% discount to excite me, needs to be a £2 offer which is unlikely?

Now if they were to offer this in a tax free wrapper, give it ISA status in its own right then that would make it more interesting but if all i'm doing is effectively buying at these prices but gaining extra 1 share for 10 it doesn't feel that worth it to me.

3 yrs ago the position here was very different

3 years ago cash burn was under control

3 yrs ago we were looking to do major deals with major players

all that turned to **** as a result of the boards gross incompetence and lack of commercial acumen and their own self investment above that of shareholders.

things need to change. until they do the stock remains uninvestable

@kagefc

When you Assume you make an Ass out of u and me.

Don't Assume you might learn something

Lmol

I will make a deal with you, if Adrian gets his act together, drains the swamp gets new board in situ and addresses the other elements including getting cash burn back to a more manageable level and presents an investable business plan, I will support the August placing which i believe will be £1.5m at 1p BUT only if there is confidence its the last raise.

The current cash raise, spend, raise consolidate cycle has to be broken and a board with some commercial acumen installed to drive this forward. This is the last chance to fix this business, if it isn't sorted I really think we have the very real risk of lights out.

I also think Nick would support once Suzy and Kevin are gone providing the plan is clear and cash burn back under control but that's his call.

@goomer

only problem is you are quoting me before suzy dd that **** deal with a two bit start up and gave 201 away. then followed more raises and more squandered cash on her lab pet project and diluted share holders with yet more raises whilst jacking her salary and benefits up and the payroll in general all at your expense.

market has moved on significantly in that time, jam tomorrow is all well and good but without any delivery forget it, raises for wc now are absolutely brutal. look over at gdr a few weeks back 80% discount, apta 80% discount they are all there. if they get this away at 1p you will be lucky and my view is that if this bod is the same without any changes then you can kiss goodbye to it because i cant see anyone putting a couple of mil more up for much of the same.

will know soon enough.

@Terrier54

That's how they get locked in and end up "waiting happy" lol

Liquidity drops off and you cant get out as easy as you got in. There are a few here with VERY short memories, confirmation there was going to no raise under any circumstances as funds were landing before the end of the year and meanwhile striking a deal with Shard with those in the know shorting knowing they were guaranteed to buy back cheaper. Not to mention BOD taking nice fat bonuses at SH expense.

Well this time, raising more cash wont be as much fun for them. You can only fool some of the people some of the time. Unless Adrian drains the swamp and moves this from a lifestyle play i think a penny raise will be touch and go. Time will tell.

Oh get real, please...

You will have plenty of opportunity to buy in the discounted placing, who are you kidding....

He cant find a replacement CEO yet

and as for 201 it needs reformulating, needs new patents and work on it, its over 15 years old now and likely superseded and you are still hanging on for that potless wonder THX to deliver - give me strength.

Talk about milking a a diabolical decision.

Trouble is they have a history of making a lot of noise around RNS confirmation of deals “up to x value” only to later find FA has actually been invoiced and collected. This will need a follow on raise, it’s just a question of how much and at what price

IF Adrian can find a CEO and put a realistic business plan together, get cash burn to a more manageable level ie less than £1.5m pa, plan the labs either to break even or just get rid and revert to outsourcing, focus on new evaluations, offload the deadwood from the board and change this from a lifestyle business, it might then become investable, until then AVOID.

I stand by incoming placing at 1p if he can secure support, as for the recent ramping here, talk about fooling some of the people some of the time. With Zero revenue in 15 years other than a £9k three month lab contract, yet 15 raises and three 125:1 share consolidations, should be illegal frankly, you would think everyone would have cottoned on by now. Just shows you.

@PM2022

Because i have hit a nerve with you, especially after i commented that for this to ever become investable Adrian needs to drain the swamp first and remove Suzy, Kevin, Martin and Jerry you have turned to personal insults. I remain utterly convinced you are married or a a close friend or relation to one of the board.

What this comes down to now is what the forward plans look like at the AGM, can Adrian find a CEO, get cash burn back to a more manageable level ie

You are proving @PM2022 my point, you have gone straight into a "20p by Christmas" ramp, Is that like your previous "by Christmas 2022" and "by Christmas 2023" ramps. Give it a break.

Look, its a penny share, this is what my earlier post that went missing was alluding to, they are high risk. But this one is a lifestyle play and until Adrian sorts that out, forget it, it remains totally uninvestable.

OB kindly reminds us of the fake email incident a while back that helped create hype and false buying runs to pump the SP. I recall that was also prior to an early placing.

TBH, I had forgot about that one until reminded, there has been so many.

Same situation when THX were going to be funded and there was this “leaked” list of II from a twitter account that were backing a 25m raise, they had been at the investor meeting. Does anyone remember that one? The twitter account turned out to be fake and never seen again but a discounted placing landed shortly after.

Then we had more recent times, where there was a suggestion of an offshore fund that had £60m raised “ready to go” – I was called all sorts because “what didn’t I get, the money was ready to deploy, subject to” and again you were hit with another placing.

Does anyone remember that J Wallows, another one “one the inside” ramped big style, with guaranteed proven deal confirmation then disappeared, just before a placing?

I’m not suggesting foul play by the company, but clearly there are elements on the net, multiple alias accounts, fake twitter, reddit accounts etc used to create false hype on AIM accounts and manipulate the share price. It’s a total disgrace really.

This penny share has had more than its fair share of made-up stories to help ramp its price. With a lot on AIM, you really must take things with a pinch of salt. Take more notice of what is not said than what is. Look for PROVEN facts, look at the history.

With VAL my view has not changed because the BOD has not yet changed and doing the same thing and expecting a different outcome is stupidity, 15 raises and three 125:1 consolidations is enough really. In 15 years, there has not been not one jot of revenue creation other than nine grands worth for a three month lab contract and that must change.

I await the AGM to see the forward plans but until then the stock remains totally uninvestable as it is IMO until the BOD changes happen and a realistic plan delivered.

In the meantime, I suspect there will be more hype and pump of the same on these boards and some of the same posters here, we know who you are, will continue contributing to that. Always DYOR

Pork's

Not sure why you are obsessed with just 4D, Jeeze, i have lost money on plenty of lemons, I have also made good returns on others, you just have to work that on balance you get a better outcome and keep your exposure

Lost message lol

.. gets burn under £1.5m, clear plan to break even on the labs or sell them off, focus on new evaluations and finds a new CEO then I may well support the next placing.

BUT that is only IF it is the last one, we have seen enough dilution here without value for a lifetime, that seriously has to change. The business as it stands is a lifestyle business.

I live in hope the changes will come, that's what i'm waiting for @OB

@OB

IF Adrian clears the dead wood, positions a new board, gets rid of Suzy, Kevin, Martin and Jerry and gets the burn under control i.e

Its evident that if the forward plans presented at the AGM do not outline a clear path to viability with a fresh board in situ from H2 1/7, including cost cutting measures to get burn under £1.5m a year then it will be incredibly difficult for them to secure further investor support.

I would not rule out your suggestion that they could go into administration. I think that is a very real risk factor here now.

The market has changed over the last two years and capital raises for WC come at significant discount. I believe if Adrian positions this correctly, clears out the dead wood and can find a decent new CEO, he has a chance to get a placing away at a penny.

A raise of £1.5m at 1p might be possible but if nothing changes, its lights out IMO I put the odds currently at 50/50.

@Iceman

Here you go again, ramping and talking hypothetical gaps in charts. Well there is a bloody big gap to be filled between 1.8p and the placing at 1p not to mention the gap from here at 3.2p - I make that about a further 70% markdown from where we are here at 3.2p to 1p - watch this space.

The market remains brutal for WC raises, its how it is.

@PM2022

Well you will be waiting now on the decisions and forward plans at the AGM and what the forward capital requirements will be not to mention if they can find a new CEO ready for H2 from 1/7. If you are happy to sit and wait that's fine. Good luck to you.

@Iceman

You do NOT have enough cash runway and well you know it. At best you are talking being out of funds end of August not enough for Sept payroll and that's assuming cash burn is at the 2023 level. In reality cash burn will be higher due to the extra staff appointments made and they have still not yet found a new ceo or offloaded the dead wood.

No CEO in their right mind is going to join a business with just 6-8 weeks cash runway ahead of them before lights out, would you? They will want assurances that cash will be raised sufficient for at least a 12 mth window if not longer, ideally 2 years.

You talking out your rear to pump this, I totally get it. you want to make cash off the back of I'll informed suckers, shame on you.