Member Info for Porky9

@Seancadman

I do not get your logic

The SP is irrelevant, you can lose 100% of your money on a penny share at any price.

If VAL don't get that placing sorted asap it's lights out at the turn of the year. They wont have sufficient funds to meet Jan payroll it's that simple.

@pm2022 leader of the ramping crew and your deputy @patientinvestor

you will shortly be hit with the placing as there is absolutely nowhere to go on this and i really hope you both apologise to the community here when that lands very shortly should they secure support.

just to address your specific points @pm2022 that were designed to try and discredit me rather than debate the stock:-

1. that's right i said placing in july 2023. what i didn't account for was the continued reckless nature and stupidity of the board in addition to their p poor fiscal control that they would leave the placing yet again closer to the wire and lights out. rather than place 20m in june or july and possibly secure £1.5m at 7.5p they will now end up with £700k to £800k placing at 3.5p to 4p longer they leave it the more discount required. but it matters not as they have the good sense not to buy stock that will be continually diluted.

2. 100% board will get voted out at agm. that's right i did say that and it was the right commercial decision. i did not account for adam being stupid enough to keep them all on. even the fd gerry who resided over the previous crash and the emergency placing and is clearly still not on the ball as the placing has still not been completed is still in situ - you couldn't make it up any other business he would be long gone. i don't think there is any other shareholder that has confidence in this board. the business as it stands is totally univestable.

3. resolution will get passed, well they still got the 20m placing they just didn't get away with the extra and options but amazingly they still all had great financial bonuses all the same - well done, brilliant.

4. easy to create a company at companies house and call it an spv - yes it is, you can do it for buttons. i could set up a company called pm2022 ltd at companies house tomorrow that offers "services to bull **** and ramping" and call it an spv, i can also say its worth at least £100million, i wont be able to sell that company for 50p but i can still tell you its worth millions.

you are completely deluded. but it matters not, the placing will be here shortly. the train is on the tracks and heading this way. watch this space.

@Paternostpauper

Don't quote outdated comments prior to VAL giving away our prize asset 201 to a potless two bit stateside start up and prior to them changing direction to now being a lab start up business - The business has materially changed.

@pm2022

you and those others that added here at 5.5p and 5.7p over the last two days are absolutely 100% going to make on a loss on that investment of at least 40% including the spread. you are not looking at this from a commercial perspective. the business has less than 12 weeks of trading cash runway left and they have no choice other than to place the 20m head room shares they have at best price and that will be 3p to 4p at absolute best. look around you at the wider market, there isn't one placing deal that has been completed at a premium to the sp, they are all discounted.

couldn't you tell from the q&a that the answers were well rehe****d and recorded, very careful wording as they need to get investors on side now to get the placing over the line. very shortly they will detail the discounted placing and will give you opportunity to add at that discounted share price. but what they raise now wont be enough. they need about £2.4m for a 12 mth runway hence a small raise now of between £600k to £800k and will need to be back again closer to the agm.

look the reality is that after 3 years of promising the world they are now weeks away from potentially losing their jobs and maybe busting the company. suzy wasn’t going to change her tune was she ! she had to be more bullish than she has ever been in that q &a. she showed no humility and pretended everything was great but its not. also, her cenkos answer was pathetic. we have got to praise the bod though, they haven’t lost any money personally as they refused to buy shares, that is the only successful thing they have done !! words are cheap

you will learn from this penny share why you should never chase the ace and keep averaging down. it is a recipe for disaster. back your winners and dump your losers. remember this post @pm2022 it will help you become a better investor. don't get emotionally involved and its essential to keep updating your portfolio, constantly ask yourself if your reasons for originally investing still hold true today.

pork's

Oh whatever, be back at the placing

Look at the current placing discounts, PYC 100%. APTA 90%, N4 70%? list goes on. It's really tough to raise capital at anything other than high discounts in this market. Moreso if its for working capital.

If anyone has mental health issues its you two ramping this constantly day in day out and not open to discussion. You are both emotionally involved IMO and not looking at this from a commercial perspective. Its business.

@Fredd1eboy

Because I’m not convinced, that’s my opinion. Look if THX can access millions and know it’s a done deal why arn’t they a declared TR1 investor here? After all no brainer isn’t it? Market cap here £6m. They didn’t even pay or contribute to the lab fees, indirectly share holders have funded the lot and very soon VAL will issue more shares. That’s how I see it. Sorry if it bursts your bubble but the commercial world is brutal at times.

As for reporting, do what you like, this should be a discussion forum not an echo chamber we are all entitled to opinion

I’m not saying they are making it up, I believe Suzy has blind faith in this partner and lacks the commercial acumen to know how to handle it. From my perspective a great scientist not a great ceo - the two jobs require totally different skill sets.

Anyhow, not long to see how this unfolds. They need the placing sorted and I will be impressed if she can get it done. The market remains ugly

@PM2022

1. What news? It was third quarter update simply confirming the status quo. What was new information?

2. If you can ramp the SP towards 8p stronger chance of placing the 20m at 50% discount and 4p will be interesting how that spins out.

At some point both you and PatientInvestor really should apologise to the investing community that visits here. The ramping is off the scale and I should know. Have a great afternoon.

@nomlungu

It was well produced, selected specific Q&A session and in my view to support a placing document. Almost akin to a promotional video. We all have the financials, she doesn’t need to comment on them, the disclaimer that the LOI May result in no money if at all has been confirmed by RNS twice so doesn’t need to go over that again either.

She is hardly going to record an answer saying btw guys we are out of cash at the turn of the year so the placing is bolted on and I might have to pull the plug on THX as they still can’t get funded. They need to remain positive or be seen as positive to get at least some placing cash over the line soon.

In reality, the cash burn level is not sustainable, end of.

@PM2022

Keep ramping, you post utter nonsense, she’s smiling at you whilst picking your pocket you buffoon.

Oh FFS rampers, go off the history and what they deliver not the BS, learn from it.

This is the Very same CEO that told you two years ago that there would be absolutely no placing under any circumstances and THX we’re completing that year to then proceed with two more issues.

@IM

The Q&A was more like a promotional video with carefully crafted answers to support the placing. IMO time was taken to carefully word the answers. This was not a meeting with off the fly Q & A she was probably at home at the time with the background screen recording each specific answer. Anyhow, each to their own

@Seancadman

100% standing by my opinion. The deal is totally dead in the water, lost opportunity badly handled and total travesty for shareholders, patients and lost time.

The only reason this is being kept alive IMO is to prevent a total crash of the share price prior to placing they need to secure.

During VALs entire engagement with this start up, THX have failed to deliver at every turn, they failed to pay the money for the labs work, no visible website, term sheet, never seen any listing or IPO heck no idea of how much they are even trying to raise and we are to believe that a US start up will go from zero to funding a phase 2 trial that will cost the best part of £26m to do and two years later and still waiting, that’s two year of lost time the drug should have been on trials, the company still spin this will happen.

Finally, just to add further, I also believe that THX do not need to execute the contract either simply because they have everything they need, they have the full IP so do not need to pay VAL anything. The only way they would execute it imo is if they can find a large biotech to take 201 on and they act as middlemen taking a cut - that’s my view sorry.

Hopefully Suzy can prove me wrong but I don’t see it, if SH had full transparency of everything here it would help but they don’t, SH are being kept in the dark for good reason.

Anyhow you will know soon enough, She can only spin it so long until ultimately they say THX we’re unable to secure funding to execute which we did say was not guaranteed from the start. By that point more placing cash secured for the labs and another 6 maths pay at 160k a year to draw down.

Genuinely hope I’m proven wrong

Evening,

I have read today some absolute tosh here today pump and utter BS from the ramping club to try and sucker in ill researched small investors in, shame on you specifically @PM2022 and @PatientInvestor. You BOTH know a placing is absolutely bolted on now any moment as there is NO possible way the business can survive without doing so. They have to consider staff job security for a start, you can't be reckless and run a company to the wire, the count down has started.

As for 201, it is far from a done deal after two years, THX DO NOT need to complete on it either and in any event, even if they did the sums on exchange just give them an extra 5 mth cash runway but its all pie the sky.

Finally, as for Adams tweet today, don't get me wrong he is a great guy and will do wonders over at APTA but come on.... But for the listing costs, But for the lab costs... we could be..... Problem is we can't avoid the bloody listing costs or lab expenses or bloated pay roll without material cost saving implemented. The cash burn is £ 2.4m FACT. The money runs out in 12 weeks FACT someone on the BOD needs to get a handle on this.

All that will happen here is the ramping crew will work over time trying to promote spin, the SP will bounce a bit and then whack, in comes the 3p or if wind in the right direction 4p placing IF they can secure support. IF not we are looking at death spiral financing. That's the reality of the market conditions here.

We will know soon enough.....then the likes of PM2022 and PatientInvestor (AKA Iceman) can apologise to rest of the SH that post here.

Oh dear oh dear @PatientInvestor

Last poor atempt at a P & D before placing. They have less than 12 weeks of cash left and NOTHING that will bring cash in other than investor cash.

Good luck with it, you fill your boots at 6p and see it halved or more should the placing get over the line. I just feel sorry for newbies not researched being suckered in.

Really @PatientInvestor, Really......

But for the listing costs, But for the lab costs......... But for the BODs, But for the pay roll and cash burn, But for running out of cash within the next 12 weeks, But for the constant blunders and p poor handling of 201 and But for the lack of new evaluations and lost time..... we have a business with great potential

Problem is the But for's.... unfortunately potential alone doesn't pay the bills.

Ramp your way out of that one @PatientInvestor, clock is ticking, if people want to buy ramp and pump, crack on....

The update delivers the progress and marks end of the third quarter

The update will also be required and beneficial for the placing document hence essential requirement.

What we need to know now is if they can secure support or not and at what price. The update doesn’t tell us anything we don’t already know but at least confirms précis of the status quo. I stand by my 4p for £800k they are veterans at raising.Its the boards strongest skill set.

The stock still remains uninvestable to me without serious BOD changes, massive reduction in cash burn and directional changes but it has a good investor base to draw from and the stocks gone up 5% so some like the update, so that’s a positive

Good luck guys

@Metom

I’m going to be a bit more bullish.

I think this is about self preservation now of the Board Jobs. What they need is £2.4m of cash but they can’t get that without a resolution passed and unless Adam wants to back it at a likely 1p placing and I suspect not, it won’t happen and the BOD wont even try it as they know SH have had enough of their greed and scant regard for Investors cash and continual failure to deliver.

Off memory without digging into all the docs, I think they can self approve 20m of shares without further authority.

Based on todays L2 and the joint house broker CENKOS Chasing the ASK all morning (they are trying to offload IMO at best prices ahead of the placing) I think they will get Turner Pope to place 20m at 4p to bring in £800k. This will extend the runway by 4 months and if they can add some lab business wins will extend them closer to the end of H1, they will then need another raise. But it keeps them all in high paid jobs for longer and a happy Christmas.

IMO none or only one of the BOD will remain at the next AGM. SH will not want to back resolutions for more headroom share issues without a material reduction in cash burn and board changes and i'm not sure Adam would also but that's his call.

See what happens but that’s where I put my flag in the sand but only my opinion so could be wrong, DYOR.

Good luck

Pork's

@Mazik

Hold the strength, penny shares are a challenge at the best of times. I took a tax write off with 4D in my last tax year and a large one for Novacyt in the previous year. In both cases the BOD lied or at best were conservative with the truth so never go off on just what they say. Often what they don’t say is more important that what they do say. You will have your winners and your losers. Just don’t get emotionally involved, its business.

Also, with this play, the body language of the BOD is really telling, you can tell when they are uncomfortable with a question. They know the real situation hence why they won’t invest.

Can I add that it really saddens me regarding the events here. I do have a heart and want everyone to do well. You back a business with your hard-earned money and often some of these AIM company boards just take full advantage and are totally ruthless. Many just don’t value your investment.

Here we have IMO a business with enormous potential but run badly. We had an opportunity to remove the dead wood at the AGM, but they were saved. I’m not accusing Suzy of lying but I don’t buy into the whole THX situation and its possible she might not be giving us the total picture, but we are where we are. I think 201 is now too late to the party, which is a total travesty how it has been handled and a wasted opportunity, but SH have paid for that.

Take Care

Pork's

@nomlungu

OK, so we are totally reliant then on an ever dwindling number of private investors that are already fully invested or been invested and got burnt or have already seen VAL with its “Jam tomorrow” capital raise story countless times before.

Adam still remains the only declared position for now, they lost Nick due to non performance and handling of 201, there are no II, family office or even boutique investment houses involved.

So with S P Angel, Cenkos and Turner Pope clients all fully rinsed VAL probably need to find a new broker to try and find a new investor audience. As I say my view remains that raising money for Working capital at the moment is really tough. Market conditions remain tough.

See how it goes...

I don't have an agenda, i just post as i see it, free world, DYOR, taking into account your three points:-

1. Yes on paper that WAS the original business model, it didn't do clinical trials, its outsourced the lab work, took trial drugs at Uni level and got them positioned. Now the effort is all focused on a lab start up. They promised more than six new evaluations? Didn't deliver. Even if they added them now it would be at least another year from here, lost time, lost pipeline and increased cost base. Its no longer lean and mean. Its become a lifestyle lab business IMO.

2. You think finances are well managed do you? wasting cash they had from shareholders on bonus payments, a PR firm?? cash burn back up to where it was pre crash??. Sorry but Gerry was the FD at the first crash, still FD at the emergency placing and will still be FD at the next penny raise. IMO its not well managed, it was at first when Kevin started now its business as usual, so i totally disagree on that point.

3. Too right Directors should be buying shares, agree on that and Adam should be on the BOD and i agree on that also but they are too arrogant, they didn't want the guy on the BOD "he can add value on the science side" what utter crap he has ten times the experience of Suzy and the entire BOD put together. The guy has his own small bio business, he clearly had time to be a NED as he has joined APTA. Its a major blunder as i see it. I think Suzy likes it as it is, likes yes people around her and her salary has doubled over the last three years and been well rewarded. IMO they shafted the guy but he is too nice to see it. Business can be ruthless at times IMO.

Anyhow, our views differ @PM2022, you go back to ramping i will check in again at the placing, if they can pull it off. You should get some open reach news soon, the lab opening, some collab news maybe and some lab wins, some business should come in from Imogen they cant deliver absolute zero but ultimately its now down to Investor support as i see it simply due to the size of the cash burn but, that will be a hard one now due to the amount of times the existing investor base has been rinsed.

It would be the third placing at Turner Pope. Personally unless they make material cash burn reductions, change the board, the direction, this next placing is going to be a tough one to get underwritten but we will know soon enough. I will be mega impressed if Adam tips up yet more cash to pay directors at the next placing, why should he? there has to be an end to someone's generosity don't you think? i would be reducing my exposure for sure in his position not increasing it but that's his business.

Good luck to you

@PM2022

Look this is a stock discussion board is it not? Everyone is free to post their own analysis and evaluate as they see fit.

You say Val "Only burns £2m" seriously, don't you think that IF this business was in the private sector and not on AIM where Investor cash comes too easy, you could run this business at a fraction of the cost?

For a start you wouldn't pay Suzy anything like £160k a year, you wouldn't employ Gerry with his track record and you wouldn't employ the other NEDs on silly money either or pay massive bonuses rewarding non delivery. £17k bonus for Kevin? come on its ridiculous.

Anyhow, each to own on cash burn and if SH get value or not but even you now recognise they need to get a move on with the placing, its about a 12 week window left to do it now and December is a dry month with big money going away early for Christmas.

Good luck to you, i certainly cant fault your loyalty and lets face it win or lose, for pure entertainment value the top prize has to go to Stella for her "Gerald Ratner Moment" that was pure poetic.