Member Info for Porky9

@Badsterman

It would be an absolute travesty if Resolution 2 is passed allowing them to award 10m of options after the way this has been played. If Adam backs that he will seriously tank in my estimation unless Suzy is awarding him a chunk for loyalty. Will know soon enough.

And yes, you guessed, my flag is in the sand for September. Business as usual.

ONLY way that events can change here now is with BOD changes IMO. So you are looking at end of June AGM providing Adam doesn't torpedo SH votes and maintain the status quo again. Doing the same thing and expecting a different outcome is madness.

You say the arrogance of Dr Cox beggars belief.... totally agree.

Perhaps he should be known as Doc Cox. Anyone remember him from the 80's, "That's Life" and his top selling record with Ivor Biggun:-

https://www.youtube.com/watch?v=wP8o7Xyrg-Y

LMOL. Words just fail me.

@Riddler

You are a trader and that’s your business, I don’t care but I stand by it was condescending comment you gave “Have you listened?” In reply to a forum poster. It’s evident they know what was “said” they just don’t know if there is any future in it.

As for “my antics”, there is nothing deceitful in discussing the pros and cons of a stock play. Don’t know where you get off. The whole point of these forums is to discuss the viability of an investment. Good or Bad, where I invest my cash I want to know as much about the business as I can find out. Other stocks are for other forums not here.

Good luck continually ramping PYC

@Riddler (Now KA Laura2022)

You really can come over as condescending at times. @gimmeshelter is fully aware of the ramps and BS of the PAST like everyone else.

What the poster wants to know is if 201 is dead in the water or not.

I would say based on the fact that no cash landed from THX before the year end and yet another timeline missed resulting in yet another discounted placing you already have your answer. But let’s have it from the horses mouth at the EGM

@Theorist

Thanks for the reply, appreciated,

This is certainly on my watch list, product side is certainly impressive. My only concern is the cash burn. They believe they can be cash flow positive in 2025 but a quick calculation of CAB at 30/6 indicates a burn of circa 20m in H1 with 26m remaining so if they spend same in H2 we would have about £6m left in Q1 24 so looks to me a further raise bolted on first quarter which could be why they are at the pitching event on the 11th Jan. you don’t bother with pitching events if you are fully funded. Not a bad thing but I would want to know what that looks like and indications they can make this viable.

Speedboat is VERY impressive for sure but MCap is also fairly racey IMO. I will attend the pitching event if I can get down to London. Add a few in the next placing if they can demonstrate stronger fiscal control.

Good luck with this one, a solid base they are building from for sure

We had a similar run jan 23 when the share price doubled just before a big business update and drifted back over the weeks that followed . I would agree this is likely same and CE mark approval most likely. They were expecting it in the third quarter so looks like some in the know buying ahead of the news.

MCap has doubled to £17m no idea what value would be with CE approval, stick finger in the air. Have to raise for sure soon but much better position to do it from. Make hay whilst the sun shines I guess.

Pre-emption rights not pre-emotion lol - although based on feelings here probably a Freudian slip....

Happy New Year to all and a better 2024

@betterlife

For clarification, The current BOD remain, you are not voting directorships, votes for board positions will be requested at the end of June 24 AGM not now.

The General Meeting called for 4th Jan 24 is asking you to vote to pass three resolutions. In laymen’s terms, we have 102 million shares currently in issue. The resolutions are:

1. To issue 30 million New Shares at 6p to support the fundraise

2. To give authority to issue a further 10 million New Shares on top for OPTIONS as they see fit at ANY price they like.

3. Agree to give up pre-emotion rights to enable passing of Resolution 1

The full details found here:

https://www.valirx.com/sites/default/files/2023-12/Notice%20of%20General%20Meeting%20January%202024%20Circular%20%28FINAL%29.pdf

I asked this question on ADVFN but nobody so far can answer it:-

Anyone here with solid research can you tell me in layman's terms in relation to the NCI collaboration what they mean by the statement:-

“The validation will be run at NCI's laboratories by their staff and antibodies identified pursuant to the Agreement would be retained by NCI”

So are they saying, here is our catalogue of antibodies, take your pick, NCI then spend a couple of years R&D on them against diseases they are working on finding cures for, NCI if it goes well find that antibody 1234 is effective against X and on result, it validates that FAB have a useful catalogue of antibodies but the antibody 1234 that works in this example is retained by NCI for drug dev to commercialisation?

I’m struggling to work out how FAB would financially benefit here in the event of success? If this was a license deal they would get milestone payments? In this example it looks like NCI get the catalogue for nothing but obviously have cost to R&D with it but it’s retained by NCI on success ???

Anyone care to enlighten me what I’m missing here?

Can anyone tell me what the MCap was when this raised significant capital at £1.80 without me having to look it up.

I can see the SP has gone up from the 20p Raise to 37p and we are at £132m value today so I’m guessing the last raise was based on about £60m ? But how does that relate to the earlier raise?

Has the value of the business gone up or down over the last three years? Thanks

It’s also “clearly laid out” why the plebs should all fall in line and also vote Resolution 2 through to give them 10 million share options to further reward their greed.

That way neither Suzy or the BOD will ever need to worry about if they should buy shares ever again. Just needs Adam to pass Resolution 2 at the EGM and the BOD can then split the 10m shares into free or low ball options for them ready to cash in should the SP ever go anywhere in the future for zero risk.

Nice work if you can get it. VAL 2 Investors Nil

As for THX merging with EUDA I have never understood the fixation. IF they merge a) there is no guarantee they will go on and raise cash b) if they ever secure cash as the new entity they are well within their rights to renegotiate the LOI terms anyhow and c) There is NO requirement for a NASDAQ listed company to tell VAL anything.

IF the THX /EUDA merge doesn’t happen as a courtesy THX can inform VAL AFTER the event but it’s not essential. VAL only need to know if the LOI will be executed or not. THX/EUDA merging or not is a mere side show frankly.

As for the placing, it was essential based on the current cash burn. They were forecast £9k CAB at 31/12 and no possible way to pay Jan overheads unless either THX handed the cash over or SH support this placing.

Anyhow, I expect they will come back and raise more next September anyhow, so another opportunity later to get “discounted shares”

@Colboltblue

In my considered opinion, your best shot at a spike short term will be if following the placing THX merge with EUDA. BUT it will be VERY short lived, you will have almost a third of the stock here in at 6p with their fingers on the sell button plus I genuinely believe that even in the event of a merger a) no cash and I consider little chance of them going on to raise any and b) in the wild unlikely chance they did raise anything they would most certainly renegotiate the terms of the LOI, possibly no cash upfront as market conditions have materially changed and they would be doing their own shareholders a disservice if they didn’t renegotiate a better deal.

IF the merge doesn’t happen then frankly its game over for 201. It’s a 14 year old drug now and modern technologies have likely advanced ahead of it.

As for the 401 deal well its gone to another private company to be positioned. Why VAL can’t do that is beyond me but at the end of the day, do investors want to gamble that another one year old phoenix business will raise north of £20m during 2024? Most unlikely IMO and as such I just think the option won’t be taken up in 2024.

And as for the Labs business, well as I have said many times. Its going to take a heck of a lot of time and more cash. I question spending 600k on building a Biobank catalogue, Imogen had previously spent millions on that biobank and still couldn’t make it financially viable, its all fine and dandy building an amazing Biobank, but you need to secure orders off the back of it. Most UK labs are loss making, the best in the market can only deliver up to a 20% return, its a highly labour-intensive business, they would probably need something like north of £10m revenue generate gross profits to cover existing overheads and that’s assuming no increase in head count. VAL have three scientists, Imogen had something like 36 staff at their height and still couldn’t turn in a result.

My precis is negative I appreciate, no surprise there but you will have plenty of time to buy under the placing price next year, I consider the stock uninvestable with the current BOD and my call is that the SP will drift further in the run up to the AGM June 24 and in September 24 they will be looking at placing 16 most likely at 1p if the BOD still remain. The comment @LWHL made about the board being “haughty” frankly is understatement of the year, I think they are treating shareholders with utter contempt, like you are all idiots that cant read a resolution, and it needs to stop but they can afford to do so as Shareholders keep coming back for more, so why not?

Finally, IF Adam votes Resolution 2 through to grant them 10m of options to distribute amongst themselves he really will tank in shareholders opinions. I really hope he doesn’t do that.

Pork's

@BagMan

Resolution 2: Share Options 10 m

Shareholders should totally vote NO against this resolution. IMO Not one person has done anything to Justify in any shape or form the awarding of share options.

AND if they intend to use this to award those in the placing, its just awarding greed on greed frankly.

I would also ask why despite intending to dilute shareholders by a third with a 26m + 4m share raise on top of the 102m in issue why they want another 10m on top of that for "share options"

Any of those options being awarded to Adam?

@All

Wishing everyone a Merry Christmas and New Year

Not long now, already starting to wind down and time to spend time with family, loved ones and raise a glass to our absent friends .

As for the markets, well should improve H2 2024 and really with worldwide events and the things that personally count, none of this here really matters in the bigger picture does it.

Have a good one

@TheBasher

I can feel your pain here and totally get it. The utter contempt for shareholders is truly shocking and unlikely to change anytime soon with the BOD as it stands.

As if adding 31m new shares to the existing 102m in issue doesn’t dilute shareholders enough they slip in Resolution 2 to pass another 10m for share options on top on the suggestion that it’s reasonable “due to the companies size and stage of development” - really?

There isn’t anything I can think of to paint a more positive picture other than it will give them the liquidity to carry on as normal and probably raise again in September 24.

I do question the use of funds having read both reports, realistically IMO we need board changes, a reduction in cash burn and directional changes, I’m amazed that £600k is ear marked for further integration of the biobank for example but in all honesty shareholders won’t ever see these changes until Adam is ready. Votes cast at the AGM kind of proves the point, as long as he supports the raises and votes them through nothing will change it will remain as a lifestyle raise, spend, raise, spend, consolidate business as I see it.

Frankly a tragic situation of what could be.

But Jay you did get rather nasty about it and resorted to posting in capitals "there is no placement" whilst we had post after post about how there was 60m+ of cash in some offshore account and TRX was going to transfer funds to stave off the placing. My posts were outnumbered at least 3 to 1. That cash has now proven fantasy and we are back to "THX still trying to raise cash".

It was as clear as day to me that the SP was being pumped to get that placing away at a better price. The campaign has proved to be a roaring success. Had they not carried out the pump the SP was at 5p and reducing and a placing from there would have come in at a materially lower level. So you could argue that Suzy did well to get the placing away at 6p.

Its done now and by mid Jan the dust will have settled and history will repeat. There will be traders in that 6p placing looking to pump it and dump on any spike. You will shortly have a third of your stock in at 6p. It is what it is.

Personally, i wont be buying in the placing, i consider it expensive with this BOD, i just think they will maintain spending, give themselves nice pay rises and bonuses, lab revenues will be minimal and by September will be back for another discounted placing. It is what it is. No doubt the pumpers will argue this... but it says they could have cash into 2025 blah blah, they wont. Spending could even increase IMO, they will continue business as usual, rinse and repeat.

I consider it uninvestible with the current BOD BUT that does not mean that you cant make money trading it, i see this remaining as a trader stock and good luck to you if that's your call. I believe there will be opportunity to buy in lower than the placing rate if you wanted to in H1 especially once the penny drops that THX will never complete or its terms get renegotiated and there is no upfront cash. Time will tell.

Anyhow, we are where we are. Sad and sorry state of affairs brought on by the BOD. No point in small shareholders beating each other up. Hopefully going forward all view point will be heard. Take care all and enjoy your Christmas and New year.

Pork's

@Freddleboy

Never too late to try, dust down, get back on that bike and give the market hell in 2024!

@OB

You got the wrong bike, you need a Raleigh Chopper with the 3 gear box and side mirrors, that was the last bike i had anyhow. Also the seat sits two, ideal for backies :) Take care

@PatientInvestor

TBH I’m actually speechless at your ridiculous post. Now you are acting like a blithering idiot. The placing is supported by existing and new investors. How did they get to be in the placing if they were not offered the shares? It’s not insider dealing being offered shares subject to resolutions being passed.

And as for “have you run a business” oh please, get off with yourself.

@DarthInvestor

I know, and the individuals know who they are but it doesn't change anything, although when i was wished a slow death via a stroke was a bit of a low point but dust has to settle now. At the end of the day its the BOD that are culpable for this situation. Attacking each other in a discussion forum is not a good look. We move forwards, its AIM, as i posted, what these directors don't say is often more important than what they do say!

Also, hope @freddleboy OK, his recent posts were concerning, if you are reading this Freddy, it is what it is, learning from this will make you a better investor in the longer term. you will have a better 24. Enjoy Christmas and New year with your family that's what counts.