Member Info for Porky9

This board is to discuss VAL go and discuss the pros and cons of another bio about to run out of cash over on the APTA board.

@Iceman

Your analysis is spot on. Year end runs to 30/6

Only news of value between now and the year end is one that says we won x and will actually be paid clear y before 30/6

Otherwise placing .4 or .5 bolted on.

Press article sounds great as long as it converts to cash. Sounds like they need to pay for patents and is a WIP with Unilever no mention of APTA being paid anything.

@PM2022

No they don’t. Total BS you are posting.

EGM is end of April

The THX deal is totally dead. 201 needs reformulating and a re patent.

You are not fooling anyone, all you hope for is a dead cat bounce to get out on a spike

At least @Iceman is being honest about trying to trade it. Although there are seriously better stocks to trade than this one

LMOL

Good luck with your P&D attempt

Only a total fool would buy today with two months until the EGM no guarantees, new board insitu from end of June at best and a capital raise at a penny if lucky.

Still you can try @Iceman for a dead cat bounce

Good luck

@Bagmann

Well it is, two months of limbo and shuffling ahead and none if it guarantees she is removed from the post of CEO.

Anyhow, one stage at a time I guess

@ripley94

Watch this space on CREO, you don't attend pitching events unless you are going to issue equity, that's all I'm saying. If you make a trading profit bag it.

Meanwhile, over here its a right sorry state of affairs. Total shambles.

Business is business

New Board will need a capital raise to drive business forward from 1st July 24 start of H2

They will find it unlikely to secure more capital with Suzy as CEO IMO. Nobody will want to chuck cash at this for more of the same and you certainly don’t want death spiral finance that’s for sure.

With a new CEO and new vision they have a chance and I’m sure Nick, myself and other SH would likely back that on the right terms. Business is Business as I say but this business remains totally uninvestable until Suzy is moved from the CEO role. That’s how I see it.

Let’s see how the EGM goes.

That’s a brutal analysis from Nick but I can’t actually fault the logic.

The knee jerk reaction to appoint two more Suzy supporting NEDs at cost to the shareholders when already faced with a Requisition Notice was sticking two fingers up to Shareholders for sure. No way is she going to give up a £180k a year package job without a fight.

Both Gerry residing over two crashes and Mark as a BDM being possibly the only sales development manager, I have EVER come across to hold a job down and not secure a paying sale ever is truly remarkable. They both also need replacing anyhow.

I am not sure what the process is to pass the resolution at the EGM, can it be by a simple show of hands? Providing all 7 resolutions are passed you will have a new board consisting of Suzy and Gerry plus Adrian, Ben and Ray so new board can vote as a majority to move Suzy from CEO and back to a science role where she belongs.

As for these recent two proposed pro Suzy NEDs Martin and Luke they must be blocked. My understanding from the RNS 29/2 and 4/3 is they are proposed, meaning would need to be fully appointed and as that would now be AFTER the Requisition notice date the passing of Res 7 takes care of that.

Its going to get interesting for sure. IF at the end of April EGM all 7 resolutions get passed, Suzy agrees to change position (3 mths notice) a new chairman comes in end of May and new CEO found and appointed with luck on our side they could be ready for end of June ready for H2 that is the best outcome as I see it.

BUT, the bit the LTH wont like is that sorry but you then have a great new BOD to drive it forwards from H2 but next to zero WC left especially with the increased costs and settling liabilities so they will need a raise to drive the business forwards from H2. Its how it is which is why I posted “pain before gain” they will do well to raise £1.5m at sub 2p from this position IMO

Good luck

@NH

Agreed - Nobody in their right mind would want to retain Kevin after the arrogance and contempt for shareholders displayed at the last meeting. Likewise, Suzy has proven she is incapable of being an effective CEO. Far far too many blunders to date. The skills required as a scientist are poles apart from that required as a CEO. She lacks the required commercial acumen for the job. She has to be replaced. Sorry.

@PM2022

Just to clarify, No not a buyer until Suzy removed as CEO. It has to happen ASAP.

TbH the change will ultimately be good for SH but I don't see anyway out of it. SH have been completely shafted IMO and will take a short term hit. But better to raise with a new board insitu than raise to give cash to suzy and Co.

The damage has already been done, the SP hasn't caught up yet but it will, THX won't be completing, suzy has sold SH a pup IMO - sorry.

@TRENCH123

You raise a valid point however, lets look at the business case. A lab can deliver at best a 20% bottom line once established. They are really labour intensive. VAL would need to secure millions in Lab revenues for it to be viable. They didn't buy an established lab, they used SH cash to fund lifestyles whist they tried to build one. To date its done zero revenue. I see it as a total liability sorry.

I would rather the £600k had gone into 6 to 8 new evaluations than wasted on a biobank with more cash on top for brand awareness !!!! - what's that about?

Hopefully the new board will have some business acumen and review all activity.

NO @PM2022 you are totally 100% wrong. Carrying on as it is in any shape or form is NOT an option.

I'm sure you work at VAL. There is NOT one event that can bring cash in, I'm not calling for a raise , i'm saying a raise is 100% inevitable BUT at least it will be to fund a new board to drive the business not feed the current BOD lifestyles.

Total honesty means clearing the decks. IF 201 is dead, its dead close it off. IF it can be reformulated and a new patent arranged and can then be licensed then fair enough. I Would also review 301, Suzy owning a chunk of it personally is a bloody joke. I would not allow the new board to take take sweet heart deals where SPVs are set up but that's another matter that needs addressing.

As for the labs, pie off building a bloody biobank, Imogen lost millions doing that why follow a failed business model? SH came into this to make a difference to cancer - i'm saying go back to what the business originally stood for not building out lab CRO - nobody cares about a lab business they are ten a penny.

Has to be done:-

: Rid Business of dead wood, there will be costs associated with that three month notice periods / settlements etc

: Refocus on what's important: new evaluations / ditch the lab/biobank building.

: New BOD in situ ready for H2 all being well - it will take until end of June at best IMO.

: Get Cash burn under £1.5m PA

: They will need a raise, sorry but we cant expect a new BOD to go into H2 with only 8-10 weeks cash runway left at best.

: I'm calling a 2p raise end of June to raise £1.5m

: Pie off THX get the asset back under control

: Honesty regarding the state of what's left required. Build from ground up again. Rebuild SH Confidence.

: Suzy move to sciences or leave - don't care which it is BUT new CEO appointment essential.

: 201 will need reformulating and re-patent and CLX will need working on. New patent guy can support. V positive.

: Add at least 6 or 7 new evaluations in H2 - really go for it.

For the first time ever i can see light at the end of the tunnel - Yes a lot of fires to put out first, on the assumption EGM notice out for end of this month and meeting end of April, resolutions get passed, new chairman found for end of May, i do think there is every chance a new board can be in position and old lot paid off./gone by end of June in time to start rebuilding the business from 1st July H2 onwards.

Good luck

That’s why the SP dropped to .60 after the H1 figures were confirmed as it was evident that short of a major paying miracle there is no way on planet Earth they can meet the revenue expectations for this FY.

As a result they have no option but to raise again fairly shortly. Nothing wrong in that but if you pledge to reduce your cost base and agree on a reduced revenue figure and then fail to deliver on that pledge of course the investor community are going to question that.

Talk is cheap as I say, the figures will do the talking and frankly they did. Let’s see what the Full year comes in at but IMO there is still a question mark over how a pledged order doesn’t convert to a paid invoice, I wonder how easy it is for a biotech to switch their process to APTA and how easy it is to get product process started and the real gestation period between an order and a payment.

The year end finishes 30th June 2024 the 2025 year starts on 1st July 2024, so when they talk about cash runway into the 2025 year they mean into July 24 not Jan 25

Not sure why some here cant grasp that basic fact, i think three of four posters have pointed it out to my knowledge - i guess punters believe what they want to believe.

Good luck anyhow.

@LTBeliever

Well that’s your gamble isn’t it? Does cash runway run out sooner and a scramble for a raise once the full year is completed end of June or does any of the business being worked on convert into a paid invoice and extend the runway further delaying the raise until later?

Not sure, this is the casino that is AIM and punters love a good story but ultimately figures need to do the talking and the H1 confirmed figures illustrated an absolute landslide in lost revenue - hard to recover from that until you actually start to deliver something. Meanwhile, words are cheap as they say and cash is king.

Good luck to you

Might just help pump It before the raise, cash and orders are what it really needs. That is attempt IMO.

@Ripley94

Admire your optimism, or blind faith, but if you hold back i recon if you desperately want to buy these you will soon be able to add at 1.75p to 2p range and over on CREO opportunity to add at 20p when they go for their top up raise. But each to their own. Good luck to you.

Well that’s exactly the point isn’t it that those on the fence are just not getting.

The BOD including Suzy have next to zero skin in the game. If Suzy drops another £1.4m raise at 2p it’s doesn't matter a jot, zero loss to them, just more cash for spends keeping the lifestyles going. It really doesn’t matter to them about dilution, in fact a lower price has more chance of success and when there are too many shares in issue, simples, just do another 125:1 consolidation event, what’s another one between friends.

If LTH are mug enough not to do basic research and not do anything about it then more fool them, sorry but it’s how it is. The company are brilliant at raising cash and IMO the situation will get worse before it gets better but personally I would rather a new board installed for the next raise than more cash for the current board,

As I see it until changes are made it’s business as usual, if anyone seriously thinks THX are going to execute the 201 LOI from Nov 21 they are seriously deluded.

What Share Price? This has to run its course first, by the June AGM it will be proven that 201 is dead and THX are a non event. They will have three months cash runway left.

New team will need more cash, there is absolutely nothing of value here other than a cash eating start up lab business and CLX which will still be a year off or more to be positioned.

Share price between 1.75p and 2p max representing an MCap of £2.25m that is where this will be at best. That is back to the April 21 value at restructure the previous time.