Member Info for Porky9

@Badsterman

We have historically not always agreed on matters with this stock but frankly you have hit the nail firmly on the head. You are 100% right. I totally agree with you.

@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

Traders delight

Just make sure you are not the last one holding when riding the wave when it reverses.

Stock remains totally uninvestable

@PM2022

I remember prior to the last raise you saying exactly the same and i proved it to you then but you still wouldn't have it. They left it right to the wire which is as expected. Its what they do. When will the penny drop that this business has been run as a lifestyle business and they have scant regard for Shareholders? Its time for change but it will short term get worse here before it gets better. Not a popular view i know but its how i see it. That's my opinion FWIW

Q: Look, Do you think cash burn will go up with the NEW and staffing appointments, settlements and liability costs paid off with the forthcoming restructure OR do you think they will go down? non rhetorical question btw.

IF costs remain the same you are talking out of cash mid September, if costs increase could be sooner. I expect costs to increase frankly and with a new board in situ for end of June ready for H2 1st July sorry but IF i was on that new board i would want the capital sorted out. Not when money has run out. Get all the bad news out in one go and rebuild from there. I'm not going into rebuilding a business with a few weeks working capital (4-10 weeks max) left.

So, Its how i see it and i also expect Shard Capital to sell into the placing prior to it happening, by the time retail investors find out the deal is already done. My call is £1.5m at 1p with a new BOD ready for H2. IF she stays then possibly wont get placing support at all but could use Sanderson Capital for a nice slice of death spiral finance as a parting gift for shareholders.

Lets see what happens. I don't share your confidence @PM2022 but no surprise there ehh...

@ValJu

Keep up, I'm on EXACTLY the same page as Nick, you are not reading the threads.

Recently, because Suzy was not being proposed to be removed via the resolutions proposed in the Requisition Notice for end of April EGM, yet without question MUST be replaced as CEO, i did consider if it could work if Suzy was side stepped into a head Science role. I suggested this.

But on reflection the move wouldn't work. We effectively have a scientist worth probably 45-70k salary a year top side doing a CEO job on a £180k a year package she wont want to give up easily. So i was wrong and we 100% must have change to stand any chance of recovery IMO.

Meanwhile, Nicks view was a resounding NO anyhow. We are at the stage that with so so many blunders to date he considers any position on the board for Suzy to be untenable and i now totally 100% agree. Further it would possibly impact the raising of further funds as investors are just not going to chuck more money at this for more of the same.

So to be clear my stance is, BOD changes and the removal of Suzy from the CEO role and the BOD essential. Further, i believe that the resolutions end of April will be passed and carried, and i believe its possible to then recruit a new chairman by the end of May as planned and hopefully the CEO will be changed before end of June so that we have a new board in situ ready for H2 1/7.

The bit LTH wont like is that i further believe that the new board wont want to be in situ with less than a few weeks cash runway left at that point going into H2, especially with the added costs and liabilities to settle and as such will raise £1.5m at 1p to give them the runway. And it wouldn't surprise me if its sold into via Shard Capital ready for that before the end of June.

That's my view, lets see which of us is right?

@ValJu

Now it really would be a sorry state of affairs if an MM cant process a £13k share transaction. Time for them to pack up and go home if they cant process a trade that small.

@PM2022 - Sorry but you are seriously deluded, you have less business acumen than Suzy, are you Suzy? I do wonder. Nobody can be that out of touch... surely...

Look, THX have Proven 100% that they are incapable of raising anything in over three years, total absolute joke and should have been kicked into touch after the first failed timeline was missed. The decision to partner with this start up has been a diabolical decision and a catastrophic failure from the start and the pain is never ending. But this is what can happen when someone is spending your cash not their own. Do you think THX would have got away with paying nothing and three SH dilutions if Suzy had her own hard earned cash in the stock? I don’t think so do you?

As for CLX yes, I agree it has massive potential, I actually really like this asset but it’s 18 months off and more being positioned minimum and frankly, if I’m totally honest I don’t Suzy has the skills to negotiate a decent deal when the time comes anyhow based on form and based on her performance to date, if things continue as they are you will be seeing two or three more dilutive share issues and consolidation events before you see any benefit from CLX - sorry but the CEO has to change.

As for a bid for the business, not a chance and certainly nothing like those fantasy levels with the business in this state. Let’s see what resolutions pass end of April first, the more likely outcome is a penny raise by the new board end of June ready for H2 IMO, I bet I’m not far off with that BUT that is only with a new CEO, if Suzy remains CEO I think there is a genuine chance they won’t get further funding, who in their right mind will chuck more cash at this for more of the same? Not a chance - sorry

@raypointer

i don’t know but i want some it....

nick’s just having a laugh at @pms expense, nobody in their right mind would pay £28m for something worth sub £2m and that’s before we even need to go into the glaring fact thx not having a pot to p1ss in anyhow.

like i have said, if thx ever come through with a deal on 201 i will show my **** in poundland’s window.

still it brightens the day...

@Nick

Now its you on the bottle, LOL

10p take out, @PM2022is dreaming or wishful thinking, yeah like someone is going to pay £14m for a business that has done zero revenue in 15 years, needs £2.5m a year to run and has assets values of £1.5 to £2m absolute tops being generous. The new BOD will be raising at 1p come end of June, watch this space.

Just sit back wait a few months and pick the lot the lot up sub 2p if

Not sure why two II holders are both dumping share stock hmmm....

:)