Member Info for Porky9

Sorry but the initial hurdle they need to overcome in order to install investor confidence is to reach break even point to avoid the constant raise, spend, raise spend cycles.

Now we are expecting to see the the H1 results to end of Dec 23 out probably first or second week of March. We need to see if they managed to pull any of that pipeline business in, if losses in the period are less than £170k as they were in 2021 or at least better than the £280k loss in H1 of 2022, we need some sign that they can get to that break even point in a reasonable time frame. That's what we need to see.

Now logically, i'm expecting a further 350k placing during the second quarter, i think that is realistic. You cant go from loss making to break even in an instant. I would consider backing that IF there is some proven demonstration they can get this business into profitability. I would not back it in Q2 if that raise spend cycle cant be broken.

This is a consultancy business at the end of the day, there is no reason why this can't be delivering a profit by this stage on the back of the historic funding raises it has had - time for Jim now to prove his worth.

Good luck

@hd

hey, as far as i’m concerned all five need replacing as each has displayed a high level of incompetence at every level and utter contempt for the shareholder in my opinion however, wanting that outcome and it happening are two different things.

if the bod stick together securing enough votes at this point to topple suzy and then go on to replace the others won’t be an easy task. first you need to issue threat to the board and second they would have 28 days to respond and call egm to defend and issue resolution for votes on the action.

back at the agm if you remember sh in this forum and the telegram group we’re absolutely sick of her and calling for change, they all voted and adam used his 7.5m votes to support her remaining in the position. but even with help of adam to remain the votes cast were:

26m votes for and 3.5m votes against

so, assuming you have adam on side this time to use his 7.5m votes to back this assuming votes similar to last time you would still lose 18,5m v 11m if votes were the same as last time. remember you will still have some sh that will want to give her yet more time especially if no news from thx if she puts up a strong enough case and the board will all vote with her with their few shares knowing they are next.

by my rough calculation you would need to have firepower of close to circa 15m votes to guarantee early success - do you have that much voting power in your group? if you don’t, you may be stuck with this until the june agm at that point if 201 not executed they will have 3 months cash runway left and sh currently on the fence will be more likely to vote with you. also with the sp on its **** at sub 2p by then imo you could collectively buy more votes to secure the win. market cap way to high currently to do that.

really wish you well with it but imo no way will she give up a £160k plus benefits job in this climate without a fight. as i say this may need to run its course. good luck.

Just pointing out the obvious here:-

Valirx under AIM rules DO NOT have to update the market regarding if THX merge with EUDA or not. It has NOTHING to do with Valirx whatsoever.

They only need to update the market if something material changes that directly affects Valirx. ie. they get confirmation from THX that the LOI signed in 2021 will be executed (Highly unlikely IMO) or they receive confirmation from THX that they will not be executing the LOI from 2021 and have no further interest.

So if THX say nothing, there is nothing to report. Also, IF Valirx don't ask the question they don't need to say anything either and this situation can just drift. Now don't get me wrong you would expect Valirx to update on progress in the next progress update but if the situation is unchanged that's all they need to report.

Not what some here want to hear but its how it is. IF you don't like the way the BOD are operating and handling 201 (understandable) you can always vote against their reappointment at the next AGM or vote with a new resolution if one was put forward early to remove a director.

@uxm484

hey, i totally respect my views have been ultra bearish for sometime and also it’s not a popular view. equally i know i have been a royal pain in the **** to the perma bulls residing here but you got to trust me on this, i do not have any personal issues with any specific board members.

what i dislike is the fact that they are not delivering what they say and the poor commercial decisions keep coming, mistake after mistake imo and then shareholders are picking up the tab for it and end up in this ridiculous spend, raise, spend, raise consolidate cycle.

even now, for example, have you looked at the split regarding how the recent cash raised will be spent? £400k for that £600k for this, it is complete bloody fantasy. an operation like this has to be lean and mean, they have to make a pound go a long way, it’s run like a new bank division or government quango opening where cash is unlimited and spend what you like, on anything you like and don’t forget you need a good bonus at the same time. i look at this business purely from a commercial perspective and the bod imo just lack any level of commercial acumen. further, i remind you that when kevin led the restructure back in april 2021 he specifically pledged to get cash burn under control initially they started doing that but then slipped back into their old ways.

you say that any bod changes “could jeopardise the 201 as negotiations” may i ask how long do you think it reasonable to wait? moreover how long should exclusivity last when nothing is being paid to maintain it and deadlines are missed?

thx are never imo going to execute that old loi from 2021 but it is that hopeium that has a) maintained the bod positions and b) enabled them to raise the current extra cash to spend at the inflated price to continue business as usual. i believe that needs to run its cycle. maybe by end of june agm more sh will see this for what it is, at that point there will be about three months cash runway left and with thx dead and buried sh will demand change to move forward.

the sh moaning now is not dissimilar to pre the agm and as per my last post the entire bod were re-elected. i’m guessing that if you personally were asked to re-appoint suzy say from 1/3 if an early resolution was forced, due to the current almost expired thx hopeium you would still vote for her to remain, i understand that, it’s totally illogical imo from a commercial perspective but i totally get it.

It is all very noble forming a shareholder group to propose change however for you to have any chance of resulting success you would need Adam on board for sure as without his voting support any resolution proposed would NOT get passed so, you might as well just ask him directly what he would support?

For the record Adam holds 7,749,163 shares based on the information updated on 9th Jan on the website, that's of course if that's still correct.

Secondly, its now mid Jan and you would need to give 28 days notice, a further EGM would need to be called, resolutions issued and voted on. You may as well wait until the AGM end of June, when all 5 director position's are up for appointment anyhow?. You still need more than 50% of votes cast. At the AGM Adam previously voted for the status quo to keep all directorships so IF voting was similar to last AGM but Adams 7.5m votes was shifted from FOR to the AGAINST side there is still no guarantee you would get the outcome you want? As a reminder this is how voting went last AGM:-

Suzy FOR 25,973,930 AGAINST 3,527,189

Gerry FOR 16,114,187 AGAINST 12,348,465

Kevin FOR 21,593,895 AGAINST 8,504,465

Martin FOR 17,186,384 AGAINST 11,344,400

Stella FOR 21,379,447 AGAINST 8,557,449

So as you can see, you would need a fairly big swing even more so specifically in Suzy's case even allowing for Adam's change of vote to the AGAINST side for her to be unseated. Not saying it cant be done because shareholder sentiment has clearly shifted significantly but there are still no guarantees.

Also Adam has no director rights, probably another reason why Suzy doesn't want him on the board. Just as well they didn't get resolution 2 across the line at the EGM because had the BOD awarded themselves 10m in free options those votes could have been used to insure against their removal.

Good luck guys anyhow, change has to happen for sure but IMO you may have to put up with this nonsense until end of June, also by then IMO the Share Price will be down at sub 2p level, THX wont have completed on 201, hopeium of THX delivering likely killed off by them and the vast number of Shareholders that are not in the telegram group that voted FOR Suzy last time will have had enough by then for sure hence, more likely there voting position would change.

The clue is in the fact they just attended a “pitching event” and made it clear there is a funding short fall. The mention that they “might” be able to plug via alternative income is IMO pure BS, as if that was the case they wouldn’t be a need to even mention the short fall in the first place.

I find it interesting that two people can go to a presentation and draw totally differ conclusions, some don’t listen to what is actually said and draw bias confirmation from it to suit their own agenda.

@jimbogains

Not a chance, IF THX merge with EUDA there wont be any cash included, just a further promise to raise, the LOI wont get executed and if it did it would be on revised terms from the new entity likely with no cash upfront.

As for the share price, i would agree a good pump and dump is due shortly but with practically a third of the stock in at 6p and so many fingers on the sell button any uplift is going to be sold into PDQ frankly.

Best advice, when the P&D starts don't get greedy take what you can and leave someone else to hold the baby because until this board is removed this nonsense will just continue.

Just playing Devil's Advocate here but you could still argue that she has taken the Market Cap of the business from £2.25m at the restructure in April 21 to now just shy of £ 8 m Market Cap following this placing.

Love or despise Suzy and the way they have possibly manipulated the situation to get the placing away at this level, fact remains they still managed to spin it to secure the money. A job well done.

Will be interested to see what the cap table of declared interested parties looks like. It says on the website updated yesterday 9/1 that Adam holds the exact same number of shares as before. That surprised me. The director positions are now updated. They still show Monecor Ltd as a 3.37% holder yet that business closed years ago and doesn't hold any stock in VAL so not sure why that's still showing, it needs removing from the list but otherwise no new declared positions which is odd when you consider they have just issued third more shares!. No wonder this remains a traders dream. see here:-

https://www.valirx.com/aim-rule-26

Lol - you beat me to it @IM

Found it, this was the 22 year so probably had a pay rise since, you need to dig deep:-

https://www.valirx.com/sites/default/files/2023-06/ValiRx%20Plc%20-%20Report%20%26%20Accounts%20For%20the%20Year%20Ended%20Dec2022%20%5B05June2023%5D.pdf

Page 68 - she was declared as earning £ 163,469 and Doc Cox £68,684

The figures for Gerry don’t include the extra £18k fee he takes in addition for doing the accounts

Hope this clarifies

@PM2022

I’m fairly confident she went from something like £80k a year as a Science officer to £160k basic as her role was advanced to CEO,

Let me dig out the accounts and I will revert further

Suzy has previously been VERY clear she has "her family to think of" and is not a buyer of the share capital. Buying £4k was lets face it a token contribution. She earns over £160k a year plus benefits here and frankly IMO that is significantly more earnings than a number of shareholders here that have put their money and trust in her to deliver and that's the real travesty IMO but it is what it is.

There is nothing else really to say about this, it tells its own story. IF you were CEO of your company and had faith it was going to become a multi million value business in the future you would be falling over yourself to buy stock. In truth, this is a lifestyle lab start up business that will need significantly more time and cash to get to its destination, if it ever does and Suzy knows this is the reality hence why she is not buying - simple.

What @PM2022 fails to grasp here is that we are talking about three different legal entities namely, Valirix Plc, TheoremRX Inc and EUDA Health Holdings Ltd all with own interests and own parties to satisfy.

The historic LOI is purely between VAL and TheoremRX and during the years of failed and continual missed deadlines not at any point did TheoremRX come through with anything despite telling VAL they had strong access to funds. IMO they are not a good choice of partner because they have proven categorically that they can’t deliver on what they promise.

Further, Thx didn’t even support with any lab fees at a time when VAL desperately needed funds. BUT despite the LOI they issued back in 2021 and despite their failed promises to Valirx that business arrangement has nothing whatsoever to do with EUDA nor does EUDA have any responsibility or obligations regarding that arrangement with VAL.

Now EUDA in October agreed a time window to conduct Due Diligence to establish if merging with TheoremRX was a fit or not. We don’t know the outcome of that, but I would suspect the deal fell apart during Due Diligence. Now they could prove me wrong, but I doubt it, the hope that they will merge and then go on and execute the 201 deal with VAL is what is stopping the share price crashing to 2p which IMO is fair value. It is that Hopeium that keeps the investor interest, the hope they will still come through albeit fading by the day.

BUT the harsh reality here is that even if EUDA and TheormRX merge they would them become yet another legal entity and as such IF that new company went on and raised funds, that new business would need to support its own investors and IMO by rights would not be serving those new investors well if the original terms of the VAL LOI were accepted without a renegotiation. The market has changed significantly during the last few years. Thats business and its totally naive to think otherwise.

The only positive for Valirx out of this THX situation is that the hype pump from 5p and the hopeium of that 201 LOI being executed and funds landing before the year end and staving off the placing helped pump the market cap and enabled the placing at this bloated price. You could argue an excellent job done well by the Valirx BOD.

Not great for those long term holders left holding the baby at this level as its already proven now that the cash didn’t land as promised hence, the placing but that’s the reality of the situation and I genuinely don’t expect it to change anytime soon.

Pork's

@PM2022

LMOL - in fact wetting myself laughing. You are clearly as naive as Suzy when it comes to anything commercial:-

EUDA to VAL : Hey we just merged with THX and noticed an old LOI floating around from a few years back where they offered a couple of mil down to execute the 201 deal. Well it’s good news guys, we came into some cash recently and thought what the hell, let’s more than double that offer and get you 5 mil across to help you out

Meanwhile, I start flying...

Well as the EUDA LOI was issued on the 5th October and the 30 days and 15 days more extension is now well and truly over has anyone actually asked EUDA if the merge deal is still a consideration?

EUDA do not IMO need to put out a statement IF the merger if OFF, they only need to put out a statement if its proceeding, its only an intention to review something.

Doesn't affect me as I already have my answer but there is nothing to stop the larger holders here asking the question? The contact at EUDA that could confirm this is:-

Christensen

Roger Hu

roger.hu@christensencomms.com

+852.2232.3968

Good luck

@ratcliffewriter

IMO 201 is 100% a dead duck unfortunately. Its a 14 year old asset that has been really badly managed. The last three years kicking it down the field with TheoremRx has been at best an act of pure incompetence by the VAL BOD and at worst a act of spin to try and maintain this ridiculously high market cap.

Either of two things will happen next IMO Best case: THX will merge with EUDA but there wont be any cash but a promise to raise but it might help maintain this SP whilst hopeium remains. Then shortly after, terms for 201 get renegotiated with ZERO cash upfront and SP continues to drift. Worst case: EUDA pull the plug on merging with TheoremRx and then the SP tanks to just under 2p (Rough calculation of £2.25 mcap / 130m shares in issue = 1.75p)

By June and the AGM neither 201 or 401 will have been executed IMO and by September they will be back for another raise hence why Suzy is only prepared to waste £4k on buying stock despite earning over £160k a year plus benefits.

Anyhow, at least the BOD are fine and had a good Christmas, i think some pay rises and bonuses are in order after all they have been successful in pulling off yet another placing AND moreover at a much higher price than anyone expected when the stock was sitting at 5p pre the ramp and hype bubble campaign.

@HD

Fully diluted 132,348,673 ordinary shares in issue at 6p = £ 7,940,920 so call it just shy of an £ 8 m MCap

Obviously I remain bearish with this BOD in situ but, this still represents a massive premium to the April 21 restructure at £2.25m MCap and i consider the business is in a worse position today with cash burn back up to pre crash levels, the time and cash required from here to establish the start up lab side and i genuinely don't believe either of the LOIs will be executed in respect of 201 and 401.

Once its confirmed that THX either don't complete the merger or they complete and there is no cash there or Euda want to renegotiate terms IMO the SP at this level will be toast and head sharpish back to the £2m Mcap level. There is nothing else here to deliver value in the short term.

The ONLY reason they got the placing away at this ridiculously high level IMO was because of the hype and pump campaign from 5p and traders shorting on the pumped share price to buy back at 6p. Come September they will be back for more. Sorry but its how i see it.

@betterlife

I need BOD changes myself before i would consider as i don't see where the value will come from and I have zero confidence in the BOD as it stands but, I really hope you are right and it comes good for you. LTH have been through the Mill here and deserve a break frankly.

Hey, you never know that 50k buy could be Suzy finally seeing sense! Take care now

Pork's

@betterlife

No. Stock remains uninvestable with the current BOD in situ - Changes desperately required but you are stuck until the June AGM and by then the SP will be down to about 2p IMO.

Also the Market Cap is materially too high in relation to where they are with the business. Neither LOI in respect of 201 or 401 will be executed this year IMO. Lab start up will take years and LOTS more cash to establish - its a labour intensive business, CLX needs 400k spending on it so that one is at least 18mths off and there is next to nothing left. They will be back again in September for a further raise hence why Suzy has only spent £4k on the stock despite earning over £160k a year plus benefits.

Until the BOD changes come this will remain a lifestyle, lab pet project and a business in a continual raise, spend, raise, spend, consolidate cycle - sorry but you did ask.

Resolution 2 - NOT passed - Well done Adam.

Great Result for LTH