Member Info for Porky9

@PM2022

What report the guys ramping with new alias, like the “I just added £20k ramping Guy”

Six raises were under Suzy, is that the old BOD you refer to? She is still there and not found a replacement yet and still to be paid off, more cash to come out.

@Iceman

He who is always buying, apparently,,, lol

So you will add at +90% today but not a week earlier at 2p yet, the fact they are struggling to find a new CEO, will need a raise and have not yet put out the forward plans for the AGM shortly, situation remains unchanged.

You just hoping to sucker some newbie in at inflated prices to dump your stock you are trapped in at a better price - shame on you frankly

Ramping here off the scale by select few, how many times have we seen this.

All they have delivered is a balloon in admin costs, nice pay awards and bonuses and nothing else. We still await a replacement CEO. New BOD and new vision.

There is nothing in that RNS except fluff. CLX is the only asset that could one day be something and that is years off. Where's revenue to keep this business coming from? You in the next placing due.

15 + raises and three 125:1 share consolidations and you are calling for more of the same. Jeeze.

All that is happening here is share price pump, select couple of posters with multi alias ramping it to pump it prior to a massive sell off just before discounted placing. The only way cash is landing here is from the next placement. Same old same old. No revenue.

If you are daft enough to buy into this pump just don't be the last one holding the baby. Ridiculous.

LMOL

Winner Winner Chicken Dinner, roll up, roll up.

Fools rush in but if it helps those trapped its a good thing.

They haven't found a CEO yet, what next: betting on two snails to see which one beats the other in a race.

Ridiculous

Fun to watch and if the pump gives those trapped at 3p a chance to get out even better

Being positioned with a potential growth story for H2 subject to a discounted placing at a penny. Watch this space.

Just a note to those gamblers buying on pump, just make sure you are not still left in holding the baby when the P &D crew depart.

Got to love AIM

Good luck guys, last one one holds the baby :)

I don't think so @Iceman888

Nice fluff push to pump the SP a little for the placing in H2 when they hope to start generating some revenue after 15 years. Placing wont get supported until new management team in situ and the dead wood removed.

Longer it takes them sort the BOD situation lower it goes IMO

Placing bolted on at 1p but ONLY if they can secure support which stands at zero chance IMO if both Suzy and Kevin remain in situ.

Forget @PM2022, I propose @Fredd1eboy for our leader because:-

We want Freddie for our leader

Freddie is a man of class

We want Freddie for our leader

All stand and raise your champagne glass

Gentlemen and assassins, and ladies of the night

I call upon you this evening in the hope of shedding some light

I can't go into detail or finger unfounded fools

But there are some here amongst us that are not playing to the rules

I've rounded up the low-life and local CID

Offered a free massage or else the third degree

There is no simple solution in this life we lead

So make things easy for yourself to the baronage concede

We want Freddie for our leader

Freddie is a man of class

We want Freddie for our leader

All stand and raise your champagne glass

@PM2022

I care because its such a dam waste of what could be. The management of this business, its legacy compounds and some of their ridiculous decisions have been absolutely atrocious. The lack of commercial acumen here absolutely beggars belief and the priority over the current boards self investment over shareholder interests has been disgusting frankly.

Shareholders deserve better than that, much better than that, don't get me wrong the VAL board are not the only ones on AIM acting on lifestyle choices with total disdain for their shareholders, there are many other examples i could give but things need to change for sure if we are to have a more active invested AIM sector.

Starting here as i say Adrian needs to drain the swamp. Doing the same and expecting a different outcome is NOT an option. I hope the guy can do it and see what he presents at the AGM for the forward plans.

@PM2022 - this is not some school assembly, lets bring out the best in the pupils. Sorry, but Its business. A poor director does not suddenly wake up the next day and become a good one. You don't know what you don't know. Some of the historic blunders (far too many to list now) have been absolute school boy errors. Sorry, i think the handling of 201 alone says it all. enough is enough frankly.

@uxm484

Please take off the rose tinted specs

Just prior to the last placing, the stock was pumped and then shorted within an inch of its life by those in the know who knew they could buy back at significantly lower prices. Greed and manipulation at its best. At the high I believe it was as much as 24 or 26% short.

You can ignore my comments, take them with a pinch of salt, believe I have some angst against the company, I just don’t, I couldn’t care less anyhow. I just tell it as it is.

Watch this space, same again raise, spend, raise, rinse and repeat. To change this Adrian first needs to drain the swamp and off load the dead wood, that means a total board clear out and rebuild from ground up. This job has to be done otherwise the stock remains uninvestable

BTW, the cash bulk of expenses here are admin salary salary costs. These tend to be at month end so a cash count mid month won’t include that months costs.

The staff cost also has to be higher due to the extra appointments and you also have to take into account pay off and settlements for those leaving

I am convinced @PM2022 is married or closely related to one of the board. To suggest removing Adrian and maintaining the status quo is absolutely ridiculous

What’s the expression over at the other forum? This is now for “lemmings and mushrooms only”

Of course you will get a few traders trying to get a dead cat bounce, the blind faith averaging down yet again in blind hope but there is actually next to nothing left here of any value, the remaining cash is being burnt down quickly and all that will happen is that those close to the action will try and pump this ahead of the next placings they can get it away at slightly better discounted terms.

The placing is bolted on unless they fail to get support or Suzy signs up for death spiral finance

How many times have some of you played this game before? Historically, I would have said it’s a gamble, now it’s more akin to putting cash into a fruit machine that is empty and any winning combinations have been disabled to stop any payouts.

I don’t take joy in todays SP revaluation. Frankly, disappointed by the number companies on AIM that treat Investors with such disdain. Things need to change in the AIM market per sae to restore confidence but it is what it is.

Regarding this car crash of a situation, these are my thoughts for what its worth:-

Frankly, IMO Adrian messed up by withdrawing the requisition notice issued on 4/3 as we would be rid of both Martin and Kevin Cox by now instead of still having these remain at cost to the business. They need to be gone. He now needs to finally sort this.

Further, it’s Never a good idea to keep people in a post once they know they are going. It is better to put them on gardening leave. Nothing worse than a woman scorned. I would call time on the CEO position now. Not sure if atmosphere is toxic over there but draw a line under it. Better to cut costs and cut further business reputational damage then keep someone that will likely be adding zero value, focussing on their next move and potentially causing more issues or further damage to Shareholder value by remaining.

Adrian needs to get the new board in situ ideally for that AGM on the 20th June and present forward plans. Those plans IMO need to include a reduction in the cost base to a more manageable level back to < £350k per quarter. Clear plan to get Labs to break even or move back to outsourcing and a plan to drive more new evaluations.

IMO it will be a massive struggle to get someone good to run the company with its current financial position. Nobody is going to join with only a few weeks cash left and cash will run out sooner with the additional overheads due to the delays in making the hard decisions that are overdue. So Adrian will need to get a move on to fix this and raise if he can secure support.

I stand by my calculation that EV is 1.5p max based on where they are today, Todays adjustment is correct IMO, the current market cap has been bloated for a while now. I expect a raise at 1p to raise £1.5m but that will be touch and go IMO but if Adrian can demonstrate a solid forward plan at the AGM from H2 1/7 I still think there is hope.

I posted before that the position will get worse here before it gets better. IF the forward plans presented at the AGM are not convincing enough then they really run a real danger that a raise wont get supported and its administration. That’s my opinion FWIW.

Good luck, lets see what they have to say at the AGM.

Pork’s

Just observing - majority of post say it all

It’s fairly basic isn’t it?

If you can buy at 1.5p in a week or so time, only a total halfwit would buy at 2.05p today knowing they will shortly lose another 25% of their money plus the spread. Doh...

Equally those that buy at 1.5p and then sell at 2.05p make a nice easy 35% ROI on their money.

This is not rocket science, it’s basic maths.

A good run of pump now is the order of the day before discounted placing.

Only a few weeks left now, either cash has actually come into the bank on paid orders or it hasn’t.

The figures need to do the talking now, nothing else counts.

They can talk, talk talk about how great the POTENTIAL is and the size of the dollop of JAM but if all your business drops off and nobody is paying you its going to be one hell of a hard sell for further investment. Results in H1 were absolutely shocking.

Lets see what comes in as fully paid up, if its derisory again, SH will need to dig deep to keep it going.

@Robdog67, is making a fair point about the state of the AIM per sae and some of these penny share plays. The poster makes a valid point frankly. Some clearly do abuse the trust and support the SH community gives them. Do not diss a posters comments because you don't agree. Put forward your counter argument. The community here is to discuss opportunity pros and cons not just act as an echo chamber.

I await with interest next weeks presentation here, the delivery so far has been pitiful, doing extensive development work for token fees also undervalues them which is not great. I am interested why they did that. Good luck

@LTbeliver

So that's your logic for investment. Previous RNS flow means one must be due? Lets hope its a positive one then!!!

Look, based on the diabolical actual delivered revenue results in H1, this really is a binary play now:-

Either they confirm a decent sized order fully paid up fairly imminently to stave off a placing OR they place at discount to raise more cash to give them the required time to deliver. Its that simple. One or the other has to happen.

In the meantime, more fluff RNS reach news releases about jam tomorrow or what could be wont cut it, Investors want to see proven delivery. They are at the stage now where the figures must do the talking. Good luck.

MCap was previously £2.25m in April 21 at the last restructure. Back then the business was far better positioned and had a more manageable cash burn < £1.5m p.a. They will soon be out of cash again and need your support. Mcap now is bloated at £ 4.2m but market conditions have changed materially in that time. The business now has more shares in issue, still never invoiced a thing in15 years and to put this into perspective even using the April 21 valuation that’s an SP of about 1.5p.

But no matter which way I cut this I can’t even get back to the previous valuation because put simply: where is the value here now?

1. 201 is going nowhere, neglected, and likely superseded, 15 years old and needs reformulating and new patents, the BODs managing of this asset has been a total disaster, still locked in with a worthless agreement with a stateside start up. Meanwhile, 301 off same tech is also doing zero. The new BOD need to come clean with investors, drop THX and put the work and investment in to try and reposition it and connect with a well funded biotech, either that or cut losses and close it down – Valuation Minimal.

2. 18mths ago they should have added more evaluations to ensure more pipeline coming through. By neglecting this area of this business in favour of the labs they now have next to nothing in progress. A total failure IMO and needs the pipeline rebuilding which will take time.

3. 401 was moved to another start up trying to get funding for itself to survive being a Phoenix business so little chance of any value there in next 12 months IMO again Valuation Minimal.

4. CLX - this one has potential value. It needs at least another year development and £400k more investment to try and position it. So, Jam tomorrow for 2025 but won’t be contributing to keep VAL alive short term – Valuation I put at £1m top side.

5. Labs - what a farce, zero paying customers, decision to buy cell samples sitting in freezers from Imogen that couldn't make its business viable even with 32 staff at its height and the current BOD want to chuck more of your cash at it. I put lab assets at £500k top side if they could find a buyer. The lab business itself has ZERO value as it stands as it has no business, is incredibly labour intensive and IMO a total liability until it can break even.

So in all, I calculate about £1.5m of assets and a cash burn requirement of £2.5m to feed directors to maintain lifestyles hence why I can't an EV even anything remotely close to where it is today or was previously.

With a new BOD and a penny raise if they can get it, this remains high risk investment. They are certainly in a worse place than before and a heck of a lot of work will be required to turn this around now, that’s If Adrian pulls it off and can secure the support and financial backing to do so.

If he can’t, it’s the end of the line IMO once the cash runs out in a few weeks time. I genuinely think its touch and go now.

@PM2022

Are you still at it in total denial about the next funding round?

Not sure where you get this BS from about the cash runway to 2025. Prior to these four additions to the BOD the cash runway was scheduled to last at BEST until about the end of Sept 24 at the existing burn rate.

Now, with the new BOD still not finalised and the increased cost base with this caretaker board, the cash runway will run out sooner. My estimate is now sometime in August but either way my point is once the new board is established and in situ ready for H2 1/7/24 the new board won’t want to drive this business forward with just a few weeks cash left.

IMO they will need to raise and probably best to get all the bad news out at once, especially once it’s finally confirmed THX is a dead duck.

Watch this space £1.5m raise at 1p remains my call providing Suzy, Kevin and Gerry off the board - if they remain I can’t see anyone mad enough to invest for more of the same. The true enterprise value of this business as it stands IMO does not justify a higher placing price than 1p to deliver even the most adventurous investor a decent ROI potential.

Adrian really needs to pull his finger out now, offload the dead wood, get the new board in situ with new vision for end of June ready for H2. Get cash burn back to under £350k a quarter again to a more manageable level. The clock is ticking.

IF he can do that, there is a chance for this to be a recovery play later this year. In the meantime, the stock remains totally uninvestable.

Pork’s