Member Info for Porky9

@PM2022

Then if its such a certain bet a) why are the VAL BOD not buying shares? b) why are THX not buying shares in VAL? after all they could buy the company in its entirety with the funding and as its a certain bet they would make a killing? Its all BS.

The only reason this has not yet been pulled from THX is because MMs would smash the SP and ideally VAL need to get the placement done before that happens.

Also, to be crystal clear, i don't want this business to fail. I want to see BOD changes and a refocus on Cancer drugs. Don't give a flying fig about poxy lab start ups. If i want to invest in a CRO i can pick from over 100 of them. Meanwhile, i believe by the end of this year the board changes will happen - time will tell.

@Badsterman

No wild guess over the finances its in black and white. No revenue declared on yesterdays three month contract. And as i say, if they won half a million quid's worth of business (not likely) it gives them what 2-3 months cash burn? They need to reduce spend. end of.

@Webbo

Its not bile. I am the only one breaking up this little ramping party otherwise it would be a echo chamber rather than a discussion forum.

Have fun ramping, i will catch you later...

@PM2022

Bloody hell, you have been posting the same nonsense for this last two years, every day has been a " great time to buy "

THX are NOT going to get funded. I keep telling you, you are talking a £20m investment just to get early stage trials started and that's before other costs. They have not delivered on what they said yet VAL have still kept it with them. Now we are two years behind and counting having a drug on trials to see if it works or not. waiting to see if this outfit can get funded or not. its ridiculous.

As for cash runway, we have until the end of the year, they need to get the placing away soon IF they can secure the support????? I can re-post the proof of this yet again but a bit pointless as you will request its removal as it doesn't fit with your ramping agenda and you know this anyhow. You just don't like what you read.

@freddleboy

The BOD materially let us down on it, 201 has been a travesty and it was / is without doubt our most established and best prospect.

That's the reality. Now its all about the lab start up. I have no interest whatsoever in investing in a lab start up, only care about potential cancer drugs .

@sixhaven

Perhaps 15 raises, three 125:1 share consolidations, £34m spent to date, 5 raises under Suzy and a 6th raise shortly, should it get supported?? will be a firm indication as to why?

If you want to invest in overpriced start up CRO, go for it. This is going to take a lot of time and money from here.

Have a good day, including you @freddle.

@uxm484

That was before the crown jewels of the business 201was given away to a bloody start up without a pot to pee in. Two years on and we are still waiting....

@Badsterman

I don't doubt they are building a half decent CRO - BUT how long will it take from zero to break even??

You are talking £2.5m of business to BE point from zero. That will take sales and marketing time and money assuming they wont need more staff to service that business. Imogen had 33 staff at one point and still wasn't doing that kind of revenue.

@TDK

You can insult me and make hidden violent threats like you did yesterday, but you fail to address the key points of the debate.

"oh I'm happy to invest down here" what a load of cobblers. where is "down here" exactly???

The m'cap is currently three times higher than it was in April 21 yet, the business is in a worse position and cash burn back up to where it was then. Meanwhile the board wont invest and they are closer to the action than anyone here frankly.

This is now a overpriced start up CRO businesses. They have missed opportunity, made blunder after blunder and without BOD changes they will continue to do the same thing.

IF you want to keep down averaging that's your business. The ramping club are due to clock on shortly so i'm sure you will be supported

@TDK

Really???

So how long do you think it will take VAL to build a lab business from ZERO to £2.5m revenue assuming no further staff additions and a pay freeze and no investment in market to reach the break even point in an overly saturated market and during a biotech funding drought??

If you want to invest in a CRO, the market is littered with them, take your pick.

HNW, funds, family offices, II etc won't go near this without the cash burn being brought under control and BOD changes made.

@Freddleboy

The BOD is similar to before, Suzy worked for the company when Satu and George were there. Gerry is still the FD as he was back then and resided over the crash and now cash burn is back to where it was then. Also you are mistaken about the number of shares in issue. It is NOT 10m.

It was 65m when Kevin joined the BOD, at April 21 the SP was 3.5p. (Mcap £2.25m)

We now have 100m shares in issue and the SP at 7p (Mcap £7m)

So you could argue the SP is doing well compared to back then.

The proposed raise will be 20m broker and 20m private i.e 40m new issue at price to be agreed, so 40% dilution, I'm suggesting 5p if they can secure support could go back to April 21 levels if they cant get it away at that price.

The resolution for the 10m share options on top didn't get support, which i'm surprised about in view of Adam retaining them all, i thought some chunky free share options would be well in order on top of their bonuses for their hard work.

Lets see what they can secure support for???

@PM2022

It is VERY wrong of you to falsely claim the cash runway goes beyond end of this year. It clearly does not. They can not leave the placing until the death, it’s lights out in January. They need to get in with the placing now, if they can secure support for it.

@Sootysnipes

Problem is though they keep making the same blunders and seriously Adam will regret his decision. Golden opportunity missed. The right call was to ditch the deadwood, move Suzy to head science bring in an experienced CEO with strong commercial acumen, get the placing done at 5p, cull the cash burn and get the focus back on the drugs NOT the lab.

Because they keep pushing the lab at all costs and we are now another year on without new pipeline additions this is yet more lost time that needs making up. But when you have a £200k monthly cash burn, time is not your friend.

IMO it’s 50/50 if they can secure support at 5p, it could well go 3.5p April 21 level, just waiting now to see how events unfold, this has to run it’s course now until board changes come as I see it. Good luck to you

@TDK

You don’t need sellers, IF and it’s a big IF they can secure a placing, the SP will just open down at the level they secure it at. Over at PYC they had to take a 50% placing discount and it still struggled. If same here you would be looking at 3.5p placing not 5p

Also, with the climate as bad as it is, I genuinely think they will struggle to get it away this time, think about it? would you chuck £1.2m of cash at this knowing it will only fund 6 mths cash burn? This is the issue now, the cash burn has got far too high again.

@PatientInvestor (AKA Iceman888)

I thought we had a deal not to post?

Yet here you are ramping again, yet again not to mention claiming to be “topping up again” - relentless and with a placing due.. come on now..who are you kidding?

Oh and 15 to 20p just for Kings? Really? So we are going to see £20m for a pre clinical are we? Utter BS. Firstly it’s at least a year if not two or more off being ready to be positioned for first stage, secondly it’s dependent on the VAL BOD actually negotiating a deal with a major to take it on that can fund trials and let’s face it they have been as useful as a chocolate tea pot in that regard so far and thirdly, they still can't get £1.3m for 201 over the line after two years and that’s on a fully positioned ready to go peptide, so £20m is just pie in the sky frankly, not to mention during an ongoing biotech funding drought, so cut it out.

Agreed

Interest builds ahead of Spud now Lorna has sorted the rig, go girl.... Notice warrant holders cashing in so confidence clearly building now.

Also, as they own this rig, not sure of timelines to move a rig but as they previously identified i think 7 plus potential spud locations was it in Tan? I'm assuming that if they can't get a result at the first location they can reposition?

Anyhow, whatever the case, this is probably our best crack at securing a helium stream in a number of years and IF we do... whoooooa... 20 bagger in the making....

Good luck all

@TDK @Webbo

You will have to just trust me on this for now; Ultimately, i will help this business but not in its current format. I need to see a material board change and change of focus. The timing is not currently right and this now has to run its course thanks to Adam re-appointing the entire Board but ultimately the board change will come IMO.

As for the focus changes i want to see; to be honest i am only interested in 201 and CLX currently and any move towards curing cancer at any level. I have no interest what so ever in funding a start up lab business. This is going to take a MATERIAL amount of cash and If i want to chuck cash at a struggling CRO i can approach practically any CRO on this list, the market is saturated, 54 in the UK before i need to consider outside UK, Europe, Worldwide etc :-

https://ichgcp.net/cro-list/country/united_kingdom

@nomlungu

Exactly, we are in a bear market. Furthermore, this sector above all is having a real funding drought. Its a real issue and even once cash starts flowing again it will be a couple of years before its hits the smaller plays at ground floor.

This is why the majority in the sector are battening down the hatches and preserving cash.

Good Luck. IF @pm2022 can refrain from posting ramping cr@p for a couple of weeks i will refrain from replying to him. Enjoy

I have never claimed to hold 4.5m - my high was 1.8m of which I sold 400k in the mid 40s and a 1m block at 36p, I held the remaining 400k like a fool in the hope it would recover, ditched 200k a couple of months back and ditched 175k around the 9p level. Leaving 25p

Not that it's anyones business but my own

@PM2022

So unless a poster agres with your constant ramping nonsense you dongvghjnk their points valid?

I am yet to read ANY post from you @PM2022, PatientInvestor (AKA Iceman888) or you @rightback that contains any factual information. It's just constant hyperboil yet from the three of you

Oh please.. for crying out loud stop making dam assumptions about my investment portfolio- that's my business and has nothing to do if this is a good or bad investment risk.

The BOD have failed to deliver, its plain and simple. We need BOD changes urgently yet Adam voted the status quo.

You @PatientInvestir were calling for changes, now you have changed your tune.

@NPF

Because a) I'm not interested in chucking cash at this with the current BOD without changes made. B) if I did want stock i will be able to pick it up in the placing at 5p or maybe sub that at 3p, if they fail to secure market support at the 5p level. Watch this space. C) they materially need stronger fiscal control and get cash burn reduced.

There is No event excepting a derisory amount of lab fees if they win anything early (labs wasnt scheduled to deliver anything until 24 but could come earlier) other than shareholder funds.

The clock is ticking, we will see soon enough

Oh utter b@llox @PM2022

When Kevin got involved post crash April 21 at 3.5p (now 2.25p based on same shares in issue) his first pledge was to get costs under control despite the FD Gerry who resided over that nightmare still remaining employed on the board. That year the Cash burn was reduced to a more manageable £1.4m. To quote from Results RNS April 21:-

"demonstrating quarterly cash requirement of approximately £350,000"

see:- https://www.lse.co.uk/rns/VAL/final-results-30p49u1os0trvg6.html

By the end of June 21 they had worked to reduce cash burn even further and delighted in telling us that and at the half year to 30th June 21 had successfully reduced cash burn/ loss to £785k in the half year:-

"Loss before income taxation of £785,434 (2020: £884,523)" so well done great work!

see:- https://www.lse.co.uk/rns/VAL/half-year-report-e5h1zbu3whc0sz3.html

Wind on two more years and NOW it has ballooned back to "Total comprehensive loss for the year ended 31 December 2022 of £2,366,488 as compared to £1,518,212 in 2021" see results statement:-

https://www.lse.co.uk/rns/VAL/final-results-and-notice-of-agm-30h253v0wzrr6iv.html

So i say, yes there are reasons for this but its "business as usual" back up to high pay and paying bonuses, lack of fiscal control yet again, not delivering on key pledges, yet more cash required and its the shareholder funding all of this....

At the current burn even if they secured half a million value of lab contracts in this next half, highly unlikely, it would give them what another couple of months cash burn? who are you kidding @PM2022. They need a lot more capital to build out a CRO in this market hence why the BOD are NOT buying shares. Wake up!

AND add to that, by not adding the number of new peptides to evaluate they pledged 6 to 8 was it, even if they added one tomorrow its another year off plus so yet more lost time, again you are paying for that. AND don't get me started on the shambles that is 201. Had that gone to a player with funds we could have been two years down the line now in trials and would know if it works or not!

So before you keep endless ramping, look at what has actually been delivered. Mainly a new shiny lab to join an already struggling saturated market of CROs that will need a load of cash to build out and position.

Please feel free to counter any of my points above where you genuinely believe my analysis is wrong.....