Member Info for Porky9

Used up most of the 25% capacity so now want to make another 2 billion 750 million shares available.

Wow, it’s not often you see numbers that high.

Agreed and the key pledge that Kevin made after the April 21 restructure was to reduce cash burn by actively cutting overheads which at the start they were doing very successfully but then slipped back into their old ways after. Now cash burn is back up to the pre crash levels again.

Business as usual and now back to the raise, spend, raise, spend, consolidate cycle.

Its all very well and good pumping and hyping the stock to get the placing away at a better price and get more cash for the board to squander but shareholders ultimately pay the price. A placing should have been completed at 3p - 4p tops was completed at an inflated price. All that's happening now is the Share Price is correcting itself.

Pre hype and pump the SP was 5p based on 100m shares £5m mcap. We now have 130m shares so at the same market cap that represents a share price of 3.8p its over priced at that level frankly with this board.

Changes really can't come soon enough.

Timing is everything and a lot of investors burnt along the way especially the LTHs but lets not forget:-

April 21 - Market Cap £ 2.25 m = Share Price 3.50p

Jan 24 (today) - Market Cap £ 6.70 m = Share Price 5.05p

So despite how ugly the outlook is, you could argue that since she became CEO the market cap is three times higher than it was at the April 21 restructure.

@PM2022

With respect there are a couple of things you are not considering regarding buying penny shares:-

1. What the company doesn't say is often more important than what they do so

2. IF you dabble in penny shares you need a spread portfolio, never more than 20% in these high risk plays and you want to be in a range of them as some may work out and a lot of them won't.

In this play, i'm not convinced SH really have the full picture regarding 201. its handling from what we know has been a total shambles , a number of poor business decisions have also been made IMO and the raise, spend, raise, spend, consolidate cycle continues. I mean come on, i think we are at something like 17 capital raises now and three 125:1 share consolidations and zero revenue in 15 years.

Anyhow, can you confirm when your red line is? My call remains that by end of June neither LOIs for 201 or 401 will be executed - is end of June 2024 (need to add the year to be sure) your red line for 201 to be done.

IMO if a resolution was issued today to remove, it would not secure enough votes to pass. That's simply because until you can secure the votes of posters like @PM2022 and others on the fence still wanting to give them yet more time we would remain at a standstill.

Change can't come soon enough but it will have to run its course and IMO likely to get worse before it gets better.

So, asking again specifically @PM2022 is end of June your red line? When is enough enough for you?

A few here like @pm2022 need to sucker a few in and try and get out on a spike

I'm expecting a p&d attempt shortly before this goes sub 4p

They are potless like THX

In the UK we call that death spiral finance

Same stateside

They will just issue equity to cover it

If they thought cash was soon inbound they wouldn't need to do death spiral finance

@PM2022

Good grief you really are the king of all assumptions, what a load of utter tripe you post

1. I have NEVER lied about a thing. I am incredibly well researched and read every broker note, report and account statements including the historic background notes from SP Angel, not that I have to prove anything to you.

As for Stella I know exactly what she said. She was also right.

Regarding THX there you go again. It was not meant to be executed before end of 2023 it was meant to be executed by end of 2021. VAL have offered extesion after extension with failed delivery constantly and just extending timelines at shareholders cost.

So big boy, where is your red line? When is enough enough? If its not executed by say end of June would that be the line for you?

As for if I will invest or not, short answer is it remains totally univestable with this BOD so No, not a chance. However, in time I believe change will come and my position could change when that happens and I will be ready.

@PM2022

There is absolutely NOTHING you can teach me about M&A and frankly you are as Naive as Suzy to be buying into this BS.

VAL need to cut their losses and move on. Dump THX and look for a new partner WITH FUNDS that might take 201 on. Although as the drug is over 14 years old I accept that might be challenging. Years of time and Opportunity lost due to their diabolical handling which has been nothing short of a shambles. Further;

1. IF THX merge with EUDA, which isn't happening anyhow, it would be a new legal entity and there would be no guarantees that a) they could go on and raise funds and b) the new entity would want to execute the old LOI from Nov 21 without renegotiation.

2. Had HOT been reached at the end of the DD period they would say so. They would confirm that terms had been reached - its a material fact. Further, they updated the market at the year end and did not even mention it. They would have said it was still ongoing beyond the 45 days if it was.

3. I stress again, the deadline is way past now so the assumption is they didn't reach heads of terms. There is no legal obligation to inform the market of this. They only need to inform the market if the LOI that EUDA signed with THX gets executed.

Its a bit like the the LOI that THX signed with VAL, it counts for jack all until its executed and can still there for years unless the party confirms they are no longer interested or a timeline granted has lapsed.

3.

Utter Utter nonsense:

The EUDA LOI signed on the 4th October 2023 stated the following paragraph:-

“The two parties have agreed to a 30-day exclusivity period, which may be extended by an additional 15 days by mutual agreement, to negotiate and conduct due diligence with the aim of reaching a definitive agreement. Under the letter of intent, TheoremRx would merge with a subsidiary of EUDA. The legal structure, ownership stake, and name and branding after the transaction will be determined through mutual agreement during the due diligence phase“

So, had a definitive agreement, subject to.... been reached within the 30+15 day period we would have been advised before the year end which IMO was what Suzy was originally waiting on hence, her big update before the year end bravado which also contributed to the SP spike.

As far as I’m concerned, EUDA would only need to advise the market had heads of terms in principle been reached. As for VAL also being advised well it has FA to do with them what EUDA do and frankly although another deadline missed by THX to execute the historic 201 THX LOI nothing has changed. They didn’t complete - says it all

@Riddler AKA Laura2022. You are almost as big on ramping as @PM2022 - the specified window as I highlighted was 45 days from 4th October to reach a definitive agreement. They didn’t, end of and do not need to comment further

@PM2022

Highly likely that the deal fell apart late October during due diligence. EUDA probably discovered that THX didn't have a pot to pee in and were unlikely to go on and raise cash anyhow. The LOI EUDA signed 5th October is now well out of time and there was no mention by EUDA in their end of year update that the matter might still be ongoing. Sorry @PM2022 you really are clutching at straws here.

Also, i see no point in you constantly mentioning EUDA, the stock price over a year has fallen from 10 USD to now 1.5 USD with shareholders losing over 85% of their money in a year. Volumes yesterday were worth about a grand. It really is not worth even discussing.

And anyhow, as i said before, even in the highly unlikely event of this outfit merging, the LOI from Nov 21 is now so out of date that the new entity would want to renegotiate the terms if at all. Hindsight is a wonderful thing but VAL getting in bed with THX and continued blind faith in them despite numerous failed deadlines has to be high up in the list of diabolical business decisions made by this BOD. They need to cut it and move on.

Change here can't come soon enough

@PM2022 - Sorry but the BOD have not paid any price. They have zero skin in the game by refusing to buy shares. The only ones that have paid a price are the investing shareholders specifically any long term holders. As for options, it was a total pee take to slip adding 10m more shares for options on the resolution.

Also, want further proof you were played consider this:

They just issued 30m more shares, practically a third more stock. There has not been one declared TR1 position . To remind you that’s just 4m of Shares fully diluted for a 3% declared position. So this means that whilst you thought they were working to get 201 executed with this two bit stateside outfit, they were actually working on securing placing support with the broker craftily filling the shares. In reality, those in the know were shorting knowing the placing was in progress. Joke frankly.

PYC is Jim IMO

Does Jim maintain same salary and benefits now as a non exec? Does Peter get a pay rise? And are we now having to recruit a new COO on top at yet more cost? Was Peter the one coughing all through the last interview? How long will Jim remain with the business. Those are my questions

No @PM2022 the SP was pumped and hyped from 5p for all it’s worth from certain posters on here, twitter and ADVFN to the 12-14p range on baseless information that there was some mystical pot of £60m plus cash on deposit to deploy on a merger.

The P&D was specifically engineered IMO to get the placing away at a much higher price and to a certain extent it worked well. Had the pump not occurred the placing would have been at a massive discount to 5p rather than the over priced 6p level. IMO they did incredibly well to get the placing away at 6p, no way is this business worth this MCap based on where they currently are with this BOD and this cash burn to fund a lab start up.

There was 102m of Shares in issue pre the raise, just before the placing short positions increased to an eye watering 25% that’s almost 25m shares short and then 30m were raised at 6p. The price drop before the placing was simply because those in know were fully aware it was coming and started to short the stock ahead of it.

You know what happened as you were joining in with the never seen again poster JWallows and others that were pumping this

@PM2022

Sorry but you don’t give up a cushy NED role, she was either pushed out or resigned knowing that come June AGM her position would be up for re-election (she is not part of the existing 4 three year deal) and likely not supported. So better to resign now and take three months money to end of April than be embarrassed by being likely voted to resign two months later.

My best guess is she already knows that 201 is a dead duck and the BOD are simply not asking the questions to avoid getting an answer back that would undoubtedly crash the share price from here the moment that news drops.

My call is that by the June AGM neither LOI for 201 or 401 will have been executed however, the board would still remain unless a resolution is proposed for vote backed by at least 5% of shareholders.

@uxm484 proves casing point that this unfortunately needs to get a whole lot worse before it gets better as it needs to run its course. To successfully pass a resolution you would need those votes from those still on the fence. By June AGM IMO.

@uxm484 - Legal framework around a new entity being created as a result of a merger indeed takes many months to complete however the original statement issued by EUDA confirmed they were offering 30 days which may be extended by a further 15 days to establish if Heads of Terms could be reached. That time has long gone and a recent update by EUDA made no reference to ongoing talks.

But you are missing a key factor here and that is even if those two companies merged (highly unlikely now imo) there would be no guarantee the new created entity would execute the old LOI from Nov 2021 that THX signed at all or without renegotiation, they would not be acting in the new entities shareholders best interests if they didn’t renegotiate. The handling of 201 has been an utter shambles IMO.

@NH is 100% spot on

At the last main AGM all directors were reappointed for a three year term.

See the comment bottom of first page on resolutions 4-8 : Reappointment of Directors:-

http://tinyurl.com/4t2rjzfp

So all directors are currently safe in their positions to continue business as usual for the next three years.

But it doesn't stop an EGM being called or an alternative resolution proposed at the end of June AGM to remove them.

For shareholders to mount that action there must be more than 5% of SH in favor of the resolution. We have 132,348,673 shares in issue, so that's a minimum backing of 6,617,434 votes to call it. Adam alone has just over that so could call it in his own right otherwise you need a collective.

The proposed resolution would then be given to the BOD and they would have 21 days to issue it to shareholders and call an EGM where they would then i guess try and defend against it.

BUT, in order for the resolution to be then passed successfully it would still need a majority vote. So its one thing getting a resolution proposed but no guarantee it would get passed afterwards.

My view would be that in June you may have the best chance of a resolution passing especially once the outcome of 201 is proven. From straw poll conversations i have had with some shareholders there are still some on the fence that would give the BOD more time if it was proposed tomorrow. God knows why, its surely a dead duck but, neither the less you would need those floating/ undecided votes to guarantee success IMO.

@Scousegerry

Its the lack of commercial acumen as i see it that's the issue. Others may disagree but they have no focus what so ever on revenue generation and even now more than half the cash raised is being spent on Labs and the Imogen Biobank yet they cant make what they have viable.

As i see it Suzy is fine in a scientific role but not as CEO, i sound harsh for saying this but her decisions around 201 with TheormRX specifically have been so naive its painful to watch from the outside and that's before we get onto the CENKOS warrant issue of past and the catalogue of other blunders. This has all cost Shareholders money.

They can't keep doing the same things and expecting a different result but as i say i fear this needs to run its course now until the end of June AGM. Hopefully then shareholders will back change. Good luck.

@Scousegerry

Very good, although i don't think so some how. But change has to happen for sure before SH see any chance of a recovery here. I fear @Badsterman is probably right that SH will have to wait until the end of June AGM.

As for Stella, well unfortunately, IMO her position became totally untenable after her “Gerald Ratner” moment. It wasn’t the smartest of moves to tell existing and potential investors that you are not investing in the business you are a director of because the stock is unstable. She was of course technically right in what she said at the time, its just that wasn’t the time and place to do it.

1 down 4 to go.......

@Riddler (AKA Laura2022)

I called it 100% right on VAL. You might be the 24/7 perma bull here in this forum but much of what you post is total nonsense. They will place in second quarter as it makes perfect commercial sense BUT that wont be an issue, the elephant in the room is if they can ever make this business profitable or not? This is what Jim has to demonstrate.

And as for CREO, great tech BUT that one will also come for a placing shortly, these company's don't waste their time at pitching events unless its to establish interest for a placing - what's the point otherwise