Member Info for Porky9

@PM2022

You had my post removed hence why you ended saying "Is that clear enough" in caps because you read it!!!!

Whilst VAL doesn't fund phase trials - in NEEDS a find partners with deep pockets that will fund the phase trials - this is the KEY problem. Numb Nuts.

@Wallcrawler

They can only raise at a price the market will support

We are in a biotech funding drought now, the days of raising at inflated prices are gone now

Those historic raise prices are for the birds now...

It would be utter stupidity to vote no and put the business at risk, that is utter madness. You have to get behind them. You cant demand a share price it doesn't work like that.

@Ironmighty

Just heard her say 12 months runway for accountants to SIGN OFF the accounts.

This was not the same conversation however, its a great clip you have found as just after that she clearly explains why they needed 30% headroom and why numerous other biotech's can request 100% headroom.

I posted 24 mth's runway which i stand by but even if it were 12 they still need the raise as they have only 7 left IF cash burn was as estimated. Possible it's not could be higher cash burn depending on what the results statement confirms.

As for headroom, i was posting 50m maybe they will limit it to 30m but in this market its not going to be easy. As such, it would be safer to ask for 50m but jury is out until we hear from Suzy shortly.

Then at least we finally get the forward plans from the horses mouth

Good Luck

I have just copied and pasted the bloody accounts page from the cenkos broker report, what more can i do??? How much proof do you want ?

You just don't like what you read, i get that.

Not a bean of revenue in 15 years ,15 share issues and three consolidations, 5 share issues under Suzy and a 6th on its way and no immediate revenue in to cover costs anytime soon apart shareholder cash.

That's biotechs, as i say, VAL is on the AIM to raise cash to support its R&D simple. The business has been clear and open regarding its objectives - get with it.

@Wallcrawler

They clearly stated Buy and Build and an acquisition before 30/6. If they are not proceeding with Buy and Build then fine, BUT not at any point have they confirmed they are ditching Buy and Build nor said they are not proceeding with an acquisition to support the USP offering for labs.

As a result and its also stated in the current CENKOS broker notes, we are to assume this remains current policy , like it or not. until told otherwise.

Stop pushing the agenda of what you want and LISTEN to what the company are actually saying.

@PM2022

Well here is my reply which you will no doubt request to be removed anyhow:-

Answer to point 1.

CENKOS Report - Page 7 - Financials

Y/E December (£m) 2019A 2020A 2021A 2022E 2023E

Revenue 0 0 0 0 0

Other operating income 147 11 27 0 0

COGS 0 0 0 0 0

Gross Profit 147 11 27 0 0

Research & Development (984) (230) (304) (470) (498)

Administrative Expenses (1,860) (1,432) (1,216) (1,230) (1,518)

Share-based payment charge (1,860) (1,432) (185) (261) 0

Operating loss (2,698) (1,651) (1,678) (1,961) (2,016)

Non-operating expenses 0 122 0 (350) (150)

Finance costs (21) (15) (3) (2) (2)

Pre-tax loss (2,719) (1,544) (1,681) (2,313) (2,118)

Tax credit 294 75 133 220 220

Loss after tax (2,426) (1,468) (1,548) (2,093) (1,898)

Non-controlling interest 37 25 29 25 25

Loss for the year (2,389) (1,443) (1,519) (2,068) (1,873)

Average no. of Shares ('000) 7,221 37,898 65,005 77,549 100,882

EBTIDA adj (2,298) (1,299) (1,264) (1,471) (1,651)

EPS (p) (33.08) (3.81) (2.34) (2.67) (1.86

With the lab inhouse future R&D refunds are due to go down. In the year to end of Dec 22 just gone the loss increases to £2,313,000 up from £1,681,000 the previous year due to a massive 27% jump in admin costs. The R&D credit is estimated to be £220k

Point 2.

Stella specifically mentioned that a biotech to be considered viable should have at least a 24 month cash runway ahead of it. I actually consider that prudent and a correct policy. I specifically heard her say this during the meeting where she was introduced. Its not on video so i have no video proof but there must be others here that also recall her saying it. Problem is it doesn't fit with the pro ramp agenda

3. They have 7 mths from H2 - FACT CHECK

To be fair i'm going to assume that a) the results due any moment don't show higher than estimated loss and that losses wont be worse than the current £2.313,000 they forecast £2,118,000. So we are talking in the region of £200k burn PCM.

If they have £785k left to the year end (could be less depending on the lab costs) that means the maximum cash runway is 3.5mths from the year end BUT

They cant raise without a resolution passed and they cant leave it until lights out, not with staff now at labs and other overheads to service. That would bee crazy.

So i stand by 7 mths max cash runway from H2.

ideally it needs to be 24 mths but they could work with 18mths, either way they need to secure a resolution for a share issue hence the lab meeting to protect themselves.

IS THE ABOVE PLAIN ENOUGH FOR YOU??????

Pork's

I'm more determined than ever to call some of you out like PM2022 over this.

Dam outrageous frankly.

So some of you remain hell bent on pumping this, scant regard for newbie investors that will likely lose money short term buying in with a placing pending or acquisition due any moment.

And why? so you can get out with bigger profits on a hopeful spike in the SP - shame on you.

To request removal of an accurate with evidenced links because it doesn't fit with your ramping objective is a disgrace.

This board should be to discuss the investment, not act as an echo chamber . Joke

So my well constructed post with links to valuations and proof of the funding requirements for phase 2 and phase 3 trials was requested removal and you have had it deleted.

Simply amazing, you just don't like the fact that it 100% proves the point why raising capital for biotech's is next to impossible in the current market condition and why its hard to get deals. Ridiculous.

Just ramp away and convince yourselves....

Just for you @Nick

Posting your ramping crap.

Market cap is at an eyewatering expensive level based on where they are today especially with 201 effectively moth balled for two years and going nowhere anytime soon.

The boom price days are well and truly over now.

Market wants results not more JAM

To highlight your points:-

Not sure yet which previous poster you are but it matters not, put simply the BOD have the control NOT you. They can do as the please and won't be dictated to.

1. Buy and Build is the policy. You have to build value in a business. It does not go from a £10m company which I would argue is already overvalued compared to where they are in the market to a £20m company just because you say so.

2. They need what they need. Again it’s not for you to stipulate what they should raise. Where do you get off? It’s up to the BOD to come to us and present what they need and Why. Further if they can only raise at 5p that’s all they can raise at. They can only raise at what the market will pay. They can’t raise at over the odds prices just because you say so. The days of the boom prices are over frankly. Anyhow better that than run out of cash and go into administration so don’t be so ridiculous.

3.Yes she offers big enough incentive I’m sure he will jump at it, equally if she doesn’t feel she needs him on the bod she doesn’t have to. It’s Suzy’s call.

4. Glad we agree that it’s up to Stella and only her if she buys or not

5. W3 both agree, news when / if anything newsworthy is reportable

Good luck

And the ramping club trying to drown threads that don’t fit your pumping agenda, shame on you.

Nope, not one bit rattled? Who gives a fig.

Based on the small influx of “new” posters here I highly suspect some sort of P&D attempt to try and get out on a spike before the placing news. If Suzy doesn’t ask for headroom shares to support a discounted placing at her presentation shortly I would be shocked.

The BOD will do what they need to do to build long term value. Not be held back by certain posters he’ll bent on trying to halt progress.

To highlight your points;-

1. Why does it need to be paused? Because you personally want a higher SP? It doesn’t work like that. The BOD need to go with opportunities as they present themselves. Currently, there is a great opportunity to acquire PYC before someone else. Their maybe other targets. But whatever the case Buy and Build is required to strengthen the lab and is still in play unless they say otherwise.

2. They need at least 40-50m headroom, if they only ask for 20m they will need to do it again. They will present what they need but frankly my view is do it once based on what you can secure funds for and the business plan needs rather than dribs and drabs.

3. Of course he will accept. Suzy can give him a nice big fat share option and free shares if she wants to get him to support resolutions getting passed. Job done.

4. You can’t dictate when someone should buy. Stella will buy when good and ready and probably to support the next share issue. She will buy when she is confident of a share ROI and not before if she feels confident. That’s business.

5, Yes more clarity required for sure but they can only release news when there is news to release. As I keep saying the RNS service is not for PR

Good Luck, not long now until forward plans presented pre the AGM.

@Uncanny

But it’s ok for @PM2022 and tonight @uxm484? To just cut paste the same ramping posts over and over? Absolutely ridiculous. The desperation stinks, what’s worse is certain posters trying to sucker others in to get out on the back of them, outrageous frankly.

At the presentation very shortly, Suzy can outline her plans, as it stands Buy and Build was already agreed. We are yet to find out if it’s scrapped or not. They also have an acquisition deal to complete before 30/6 and we need to know about that also.

And as for the SP of the placing, they can only do it at a price they can secure buyers at. If they can’t secure support at 5p it could be lower, But it actually doesn’t matter what price it’s at, it’s just more shares issued to cover it and that’s not an issue either as they have had three consolidations to date and can always do another consolidation event if required if they want to later reduce the number of shares in issue.

I look forward to her presentation

Fun isn’t it....

I have now realised as being an active part of this forum that despite pointing out where mistakes have been made and contributing ideas to correct them, that there is actually an underbelly of posters here that don’t seek long term value and want to support VAL to make a difference they are just here to ramp the back end out of it for quick gains. They buy penny shares on the AIM and constantly email and hassle Suzy with stupid emails demanding updates without consideration of the wider market issues the business faces nor that its a business not personal.

Further, shareholders thinking they were clever voted against resolution 4 handicapping the business from having the headway shares they need to give them the liquidity they need and meet the business plan objectives. Talk about shooting yourselves in the foot.

So if I was Suzy I would just go hardball with the lot of you:-

1. I would line up the deal with Jim at PYC give their shareholders a reasonable premium 2 PYC for 1 VAL - that would add 50m Shares but instantly add a) £660k revenue and b) Give Labs an exclusive USP and 3) cross fertilisation of contacts and clients 4) significant cost saving synergies having one listing rather than two - no brainer.

2. I would crack on with it and try and secure support for a placing at 5p if not 4p whatever price to secure support in this biotech funding drought. If she can get support at 5p I would line up to issue 40m Placing Shares at 5p and 10m shares at 5p to existing shareholders. That would raise £2.3m after costs and give them 18mths runway from H2 combined with PYC to take the market on with a better positioned group.

Oh I can hear you cry already, but no Porky, we wouldn’t support it, we can say no, Chuck our toys out the pram, stamp feet, we own the business, there will be no placing, no additions boo hoo hoo, you are posting lies, business should be, could be, might be, if be, fifty quid a share not 5p - well I have news for you. It’s business, the BOD need to do what it takes to survive in this climate. And could sort that issue in one phone call:

Ring, Ring,” Adam here” “Hi Adam it’s Suzy, long time no speak, look we need to get get this business better positioned, Jim can join from PYC and I think we can get the business advanced but don’t have the cash runway, Stella thinks we really need 24 mths from H2 but we could probably work with 18mths, only issue is Turner Pope think it’s going to be really difficult to raise in this climate but they have some clients that might support at 5p what do you think Adam” “ not sure Suzy that would increase shares in issue to 200m and dilute me by nearly 50%” “Well look Adam,I understand but if we secure your support we can complete this, what about you joining us as NED?, We get the deal done and we grant you say 5m Shares as joining fees and a further 10m as options at 7p and that would more than cover your dilution and the business is better place

@PM2022

Sick to death of reading your cut and past post. LSE should award you a special award for “Most recycled”post of the year.

The R&D tax credit is worth £200k that’s one months cash. Annual cash burn circa £2.4m - results shortly will confirm same. Admin costs alone are up 24% this next FY. Warrants add to dilution IF the SP can rise enough and IF the warrant owners of course want to take the warrants. They can currently add at 9.25p

CLX is not worth 20p that’s £20m - it’s only worth what someone will pay, they can’t get £1.3m in for 201 and its more advanced in its phases. I don’t doubt CLX Could have massive potential but it needs a partner now with deep pockets to fund the multi millions required for the trial phases again in a funding drought. I would take zero upfront and a few million at a future milestone just to get it on its way and get trials funded and started.

They can raise at any price they like, just needs Adams support, job done. Why would anyone pay more than twice the 10p raise in this climate when you can buy in open market For less, don’t be so ridiculous.

None of your pints will bring cash in but here we go again:

1 & 2. Spain and japan - pre clinical anyhow, May or may not work, may need more time.

3. Financials - will prove 7 mths runway from H2 on current plan

4. Lab contracts will be minimal revenue to start with and not forecast until 2024, own lab work first.

5. 201 dead - just waiting for RNS confirming THX sacked so we can move on

6. Yes 301 Suzy’s pet project we wait as wait does.

7. Starting a sub coy at companies house which takes 10 mins to do online and costs nothing and calling it an SPV does not instantly add £10m to your business. If it were that easy we would all be doing it.

8. CLX - work in progress a few more years yet and a partner with deep picks to start trials required.

Now stop posting your same post to ram home these same points covered off countless times - let’s hear from Suzy at the presentation

@uxm464

LOL - shame you can’t think for yourself and need to repost others posts.

What if everyone did that?

And another "New" poster joins the forum on this bank holiday Monday.

"First" post to ramp home the rampers charter messages with total failure. we have all seen it all before and worn the T-shirt, and the second to criticise my post that dares to question it. The first two things you do when you join LSE.

Like they are some long lost reader of this forum but just joined today having been waiting on the sidelines for the last three years and finally taken courage to join us, yeah right. I will start flying soon.

So is it Iceman with account number 4, or perhaps PM2022 opened a second account, i mean come on,,, hello.. stupidity or what...??

Go Suzy

Prove you have what it takes, grow some balls, own 201, pull the exclusivity so you are open to deals elsewhere, sort your shareholder base and do what’s right for long term value.

I’m a small shareholder here and even I’m sick of the moaners with unrealistic expectations - I dread to think what your email inbox looks like with this lot...

@PM2022

Sick to death of reading your cut and past post. LSE should award you a special award for “Most recycled”post of the year.

The R&D tax credit is worth £200k that’s one months cash. Annual cash burn circa £2.4m - results shortly will confirm same. Admin costs alone are up 24% this next FY. Warrants add to dilution IF the SP can rise enough and IF the warrant owners of course want to take the warrants. They can currently add at 9.25p

CLX is not worth 20p that’s £20m - it’s only worth what someone will pay, they can’t get £1.3m in for 201 and its more advanced in its phases. I don’t doubt CLX Could have massive potential but it needs a partner now with deep pockets to fund the multi millions required for the trial phases again in a funding drought. I would take zero upfront and a few million at a future milestone just to get it on its way and get trials funded and started.

They can raise at any price they like, just needs Adams support, job done. Why would anyone pay more than twice the 10p raise in this climate when you can buy in open market For less, don’t be so ridiculous.

None of your pints will bring cash in but here we go again:

1 & 2. Spain and japan - pre clinical anyhow, May or may not work, may need more time.

3. Financials - will prove 7 mths runway from H2 on current plan

4. Lab contracts will be minimal revenue to start with and not forecast until 2024, own lab work first.

5. 201 dead - just waiting for RNS confirming THX sacked so we can move on

6. Yes 301 Suzy’s pet project we wait as wait does.

7. Starting a sub coy at companies house which takes 10 mins to do online and costs nothing and calling it an SPV does not instantly add £10m to your business. If it were that easy we would all be doing it.

8. CLX - work in progress a few more years yet and a partner with deep picks to start trials required.

Now stop posting your same post to ram home these same points covered off countless times - let’s hear from Suzy at the presentation