Member Info for Porky9

No it’s not a great post

It’s a one sided view of What some want, at any cost to avoid dilution, it’s nothing personal, this is a business. And to be fair to VAL despite mistakes made, which are not insurmountable but need fixing, they have been really open and honest with the plans, they asked for the headroom for a reason, they need to strengthen the tCRO offering to compete in this market space - it’s not rocket science.

1. The BOD can raise at ANY price as long as Adam supports - he has practically enough shares and he loves the business anyhow.

2. If they are going to raise, raise, not bitty constant small raises, just sort what they need for 18mths ideally 2 years and get it done so they can focus on what’s important. It will get passed as long as Adam votes YES.

3. yes sure Adam will join as NED as long as he gets free shares to cover his dilution - job done.

4. Yes Stella needs skin in the game, but you can’t make someone buy but she might be encouraged if it’s to support the next placing and she can get an ROI. But she’s not going to buy at the current price, the Mcap is currently at an eye watering high level. No revenues in 15 years, nothing due in and in a funding drought. Be realistic.

5. They can only release news when they have news; the RNS service is NOT a PR marketing tool, the legacy pipeline will take years from here. Once they call time on THX they will need at least a year to find a new partner, but that needs doing.

Will be interesting how this plays out for sure. Looking forward to Suzy presentation in two weeks, I think there could be a few surprises in store. She is here to advance the business for long term value, let’s see.

Good luck

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 placed”

And your evidence of that @Goomer is exactly???

I see no reason what so ever why a deal can’t be done. If it’s good for the long term value of the business it’s good for shareholders.

Both Suzy and Kevin BOTH confirmed that as part of the Buy and Build strategy their first acquisition to enhance the tCRO concept would be completed before the end of H1.

Let’s hope we get an update at the Lab presentation in two weeks. Cutting it a bit fine, end of H1 only one month away.

Did expect that PYC would be the target, perfect fit and I’m sure Jim would agree a no cash or minimal cash deal and share swop deal say 3 PYC shares to 1 VAL share something like that, it would instantly add revenues to the business, strengthen both the board and the offering proving access to new drug development tools not to mention increased shared contacts.

Be interesting how this unfolds. Good luck

So a reply form @PM2022 19.22 full of absolute ramping tosh is OK and acceptable but when i analyse and point to the glaring holes in his reposted post, that we have read for the last three years, I'm chastised for it because it doesn't fit with a pro ramp agenda? As i say, some here just want an echo chamber,

@Freddleboy

With respect, the swamp wasn't drained the first time. Gerry was the FD residing over the business at the 3.5p April 21 crash and is still on the BOD and resided over the emergency placing. The fiscal control is dire IMO these events should be avoided. Martin Lampshire was also on the board.

@Nick

Stella is a big influence IMO and ideally she needs to at least buy some shares.

Anyhow, enough's enough, I'm genuinely not here to upset or p@ss shareholders off. I succinctly apologise to anyone in this forum i have upset, life is too short for that. Sorry. I will be mindful of others feelings going forwards.

Suzy delivers her presentation on Wednesday 14th so we get to finally know what the forward plans look like and what they may or may not want support for. No doubt it will be widely discussed here late that day and the following, Until then take care.

Pork's

PS - They are building long term value - this is NOT a get rich quick investment, it will take time and more investment capital.

@Webbo (Jasonpugh)

Thank you, totally ridiculous. You just don't like forum to be anything but an echo chamber.

I have zero control over the share price, only the BOD and the decisions they make affect the Share Price. The biggest impact on the share price is the 201 situation and not updating on time on other pipeline assets when they say they will, doesn't help either.

As for placements, the business needs funds to meet its business objectives, they have been open and clear about that. Unless they change the business plan and move away from buy and build, that is the current plan. Nothing said here changes anything. Again unless they say otherwise we are to assume that remains the plan.

Also, for those keeping up, they confirmed that an acquisition was going to happen in H1 and unless they have ditched that plan it should be before 30/6. So maybe we will be updated on the position with that also.

We will know more when they present at the lab in a week or so. They either need headroom shares or they don't - I will wait to hear it directly from the horses mouth thank you. Not from the ramptastic nonsense a number post here .

Good Luck

@Nick (viera)

I just said that, you are one of the three. I called you Billy Big Balls for spaffing on here how great the investment whilst selling out, buy your 6% back if it’s such a certain bet. Oh and let’s see if a request lands for headroom. Either back the business plan or work to change it.

@PM2022

You would be surprised at the connections I have but think what you like

Let’s see the results statement and then we will know for sure

7 mths from H2, it is what it is.

@pm2022

i can go into a whole number of posts to explain exactly why you are wrong.

you can not run a business to the wire until the till is completely empty. they did that previously but they had headroom share allocation. they don’t have that now. they need to secure it. but it’s very unwise to risk your business in that way.

the cash runway is 7 mths from h2 fact - suzy will confirm same shortly.

the warrants you refer to are good for val but not good for you, they result in dilution. it’s more shares being issued - i don’t know why you keep saying that’s good.

now stop drawing me back to counter your ramptastic posts

you will hear directly from suzy shortly pre the agm so you will know directly from the horses mouth exactly what the plans and what the business requirements are.

good luck

@metom

you disagree with me and have a different view point and that is perfectly fine

one thing i have never done is insult you personally, further i would never post ****** slurs against you either ever unlike some here who can be plain vile and nasty.

so please consider that, not that it matters here and you can’t tell from forum messages but everyone tells me i’m actually a really nice guy to be around and i can tell you now i would first to the bar to buy you a beer metom. just remember all comments here are faceless posters and it’s to debate not build an echo chamber.

@all

in fact not at any time have i insulted posters here other than calling pm2022 numb nuts with my bike shop example to explain why 201 was such a ridiculous deal. nick who i called billy big balls for spaffing off yet not buying his 6% back and webbo (aka jasonpugh) who i said on advfn was as my daughter would say, as irritating as thrush.

i stand by those three :)

other than that i don’t need to insult to get my point made nor would i ever ever post ****** comments not my style either.

everyone should be nicer to each other here. have a great bank holiday everyone.

pork’s

@Fred16 and @OB

Points noted guys. I'm genuinely not wanting to upset anyone,

Just trying to debate and counter some of the heavy ramping

We will see what happens next as the presentation pre AGM will give us a good idea of the direction of travel and the companies plans.

Good Luck

@Kidlington

Value your response, i do agree that the DoseMeRx type collabs are the area to watch. I actually really liked the Beyond Blood tech device that coupled with PYC. The implications of measuring exact drug loads to very small blood sample analysis is clearly massive.

Also, tend to agree with you on analysis of PYC moving towards being a software play v consulting play. We have a £2m mcap here as a consultancy play. If the forecast revenue of £660k was pure play subscription software you would be looking at 5.2x Revenue and a mcap of £3.5m valuation, almost twice the current share price on the current downgraded basis.

There is a lot to play for here, really hope Jim can turn things around. Its staying on my watch list for sure, Jim is VERY investable as i say, he is just catching a bit of cold from the wider market fall out.

@SteveBru

Hey sometimes with the AIM Biotech penny share plays its almost like chucking balls at a coconut shy. i still have some loose end pigs in my portfolio also for all kinds of sentimental reasons. HEMO was one of them for me, LOL, I dodged a bullet with Synairgen they nearly had at the final stage trials, £2 to 8p that one, thank god i didn't add that one to my portfolio. 4D a total write off as you know, recently I'm on for a three bag gain in HELD. Its when you get your winners you get drawn in more.

For me now, i just try and do as much research as possible, start off smaller and build out on the position. Most of these Boards at LSE are just echo chambers frankly, you cant discuss anything half the time, its really hard to get a proper analytical exchange. If you don't agree posters take it personal or even troll you. We could do with a platform where you can properly evaluate plays as a group. Anyhow, wish you ongoing success.

Wow, I have to say I was surprised at the reaction to the results and Q&A RNS just shows you can never second guess investor sentiment. I thought the die-hard bulls here would just roll over and have their tummy tickled, how wrong can I be.

What was obvious here is that we are expecting them to call the AGM to a) get the accounts signed off b) get re-elected and c) get any NEW resolutions passed on Friday 30th June like last year.

So, alarm bells are now ringing why you would call a Q&A session just two weeks before. Its clear as day to me that its to explain the current position, maybe costs did come in higher than expected to the year end, maybe they really think they should acquire an asset (I’m still thinking PYC) or maybe put the case forward for the new headway share issue to secure the required working capital. None of these being possible without shareholder resolution, of course I could be totally wrong, it could be just to show you how great the lab is and how well they are doing. Will know soon enough.

Last year the final results were released by RNS on the 7th June and then the AGM on the 30th June where we got hit with the share issue but they had headway shares pre-agreed to do that, In the previous year Final Results were released by RNS on 27th April with the AGM held on the 27th May so perception is we are slipping back and because they no longer have pre-agreed headway shares they need that resolution passed.

As a positive, Suzy is right to at least engage with shareholders and explain their requirements, yet our frustration is where deadlines pass, and we don’t get updated. Also, investors here are really passionate about the legacy pipeline having invested millions into it to date yet the board give a perception that the interest now is all about the lab. The direction needs clarity.

Finally, I do reference the “Corporate Update” RNS 16th June 2020 this is just after the restructure where Kevin proudly announces how they have costs now under control, have reviewed the cost base, reduced costs and the BOD salary costs and staff a total of 7 now come in at £300k a year a massive reduction from £900k (11). How things have changed, now we are getting right back up there again, Suzy on £180k, the lab wage roll alone £300k, we have 5 on the BOD, 4 on the management team and 3 at the labs so the highest staffing point and cost at any time. Not sure at what point they lost perspective of fiscal control since that time. Business as usual.

I will watch the presentation, I’m not driving to Nottingham, it’s a pig of a journey with the traffic but I do want to hear what she has to say, and I think we should all at least give her that opportunity, although like most here I highly suspect what’s coming.

Good luck all.

Pork's

@OB

Oh the joys, you will have a smashing time taking your Grandson out, memories for life for both of you. Of course you will get zero fishing done yourself but your know that anyhow. Occasionally i bump into my cousin, he's early 50's and we still laugh now how when my Dad took him fishing as a nipper my dad spent all day untangling birds nests and retrieving floats stuck up trees. I can hear it now for you OB... "Grandad,,, my floats stuck again" LOL. All part of the fun :)

Agree with you on THX, way past "fair wait" is an understatement. A most farcical situation, it would be funny if it wasn't so serious. 201 is just sitting there, nearly yet another two years on, still waiting for this tin pot outfit to see if it can get funded or not. Can you imagine if back then it had gone to a major? we would be two years into early stage trials now . Its nothing short of a travesty frankly.

Wasted capital but more importantly wasted time, another two years that shareholders have wasted just to get trials started to see if 201 works or not and that's if the deal is signed tomorrow, yet its still ongoing!! Its also time you might not have if you are a cancer sufferer.

IF they end up pulling it from THX its another year with DD to find a major to take it because the Valirx BOD have not already acted. That's why sticking to timelines is so essential.

It would have been perfectly reasonable, based on the numerous missed deadlines and no fees paid to Valirx, for the Exclusivity clause to be removed a year ago. We could have alternative options lined up now. That's business. We are not here to make friends, we are here to find cures and get deals done.

It's my primary reason OB why I currently remain bearish, I don't claim to be the next Elon Musk but I'm involved in a few businesses and i look at this situation and I just would not tolerate it under any circumstances.

It really is a p poor management decision to reside over this and when you couple this with other poor board decisions, I'm thinking my god, the board really do lack any commercial acumen, its naivety at best, would they make these ridiculous calls if it were their own money and now they will want more? and that's why i keep saying, you don't know what you don't know and doing the same things and expecting a different outcome is madness. I appreciate i keep going on about this but i'm genuinely passionate about this - its plain wrong and it needs sorting.

Take care now

Pork's

@Lockdowns

Brilliant, love it, the world of "IF"

You forgot to add. and IF you pick the right numbers and IF its a roll over week you will win millions more. And IF the millionaire matchmaker raffle number came up on top can you just imagine it?

What IF the dog fetches the stick back because it thinks you enjoy the throwing?

And IF i post a message here in the early hours does that make me a postman called Russell ?

Blows your mind doesn't it?

Take Care

Pork's

@Lockdowns

I’m going to say that Next RNS will confirm the Results, the AGM for 30th June in London and I’m going to go out on a limb here and say resignation of both the NED Martin Lampshire and the CFO Gerry or is that wishful thinking lol.

In addition,

I still have this gut feeling that alongside issue of resolutions for the boards reappointment they will ask for headroom share issue again because they need to revisit this anyhow and/or I still think PYC will be an acquisition target proposed - makes sense

Interesting times

Interesting times

@OB

Once the BOD get sorted out, Adam changes the direction, I might have something to be ramptastic about - stranger things have happened. Until then we have to endure this nonsense.

@PM2022

And IF my mum had wheels she would be a bicycle

@PM2022

Stop trying to second guess what I do, I can do what I like, I’m not answerable to you, nor do I need to prove myself to you. In fact I don’t need to prove myself to anyone, those days are long gone so stop making wild assumptions based on various stocks I might comment on. So pack it in, focus on your analysis of this stock rather than cut and pasting the same to convince yourself.

Penny shares are high risk plays, you won’t get them all right, it’s how it is and as for forums at LSE the majority are simply echo chambers and of zero benefit, you can only act on your own research you do and as I commented previously, often what companies on AIM don’t say is more important than what they do say.

Good luck to you

@Webbo

This BB should be about evaluation of the stock not individuals activity

@OB

Sorry was busy, (Posting letters)

You have to remember I held 1.75m at my high, the small amount of stock left with I’m in for free on and it’s not in an ISA so I also have CGT to consider on top.

Hindsight is a wonderful thing, I regret not ditching my remaining stock at 34p but hey ho.

Where I’m at now I have just left it. It’s also split between accounts so more hassle than it’s worth. When the placing news lands I highly suspect it will include a SH offer alongside. It nearly always does and as long as you hold some stock you can take part. So I have that option. However I still won’t be buying without a board change in any event as we need to break the raise/spend/raise/spend/consolidate cycle. However, I actually hope/believe Adam will ultimately take control, just a matter of time, I’m betting on 1/9 it will possibly take the next placing before he acts?

Finally, as long as you are a shareholder you can also vote on the resolutions and kept informed of what they are. But matters not what I think does it. DYOR

For what its worth, IMO none of the issues here are insurmountable but we need a change of direction break the constant placing cycle, a change at board level is required IMO to take this to the next level, you don’t know what you don’t know and that’s the issue Suzy and the board has. in the meantime I see this as the storm before the calm. Ultimately you could get your £1.36 party but without the changes it will be same old same old, business as usual, spending blindly, and in a biotech funding drought on top when everyone else in the sector is battening down the hatches to boot, lack of focus and you are in for more and more dilution starting with IMO what will be a 5p issue here anytime soon IMO or lower if the market won’t support it.

You can’t keep doing the same things and expect a different outcome. I am totally convinced that THX won’t pay the £1.3m or get funded in any shape or form. Biotech drug trials cost significant capital, multi millions, a start up is unlikely to raise that sort of cash in this climate but Suzy likes to prove people wrong and she still has a window to do so.

Back now to posting letters :)

Good luck

@PM2022

Wow, and you have the audacity to claim I don’t know what I’m talking about. Let me explain why your spin post is utter nonsense: -

Scenario:

You want a Bike to get you College.

You visit the Bicycle retail shop and speak to the assistant manager.

All the bikes are really expensive.

He has a Raleigh Chopper Bike at the back of the shop, he has tried to sell it to different people locally but couldn’t sell it. He tells you this is a great bike, a classic, 3 prong gear box the lot, it has a retro feel to it, it needs oiling but “it bloody works” and with a bit of maintenance would be a brilliant bike.

You like this Bike and even think if you brought it cheap enough you might be able to sell it on to someone later and make a profit from it. However, you are skint, totally broke.

You say to the shop assistant, look to be honest I’m skint, I have never owned a bike before I would really look after that bike if it were mine. I’m going to see if I can get a loan, will you put the bike to one side for me.

The shop assistant says, I can but what if someone else wants it, will you enter into a contract to buy it and sign an order to pay by instalments?

You say, I can’t do that but look I will write you a note to say its my “intention” to buy the bike as soon as my loan comes through. The shop assistant says OK, lets do that, I won’t sell it to anyone else.

Months later you still can’t get the loan, you still want the bike, but your credit score is poor, lenders are tightening up on lending and its looking grim.

You still want the bike; you offer to pay £10 a month for storage of the bike at the shop so he doesn’t sell it elsewhere. But you default on that because you are skint.

The shop assistant really likes you; he has enjoyed engaging with you, he was young once and he couldn’t sell the bike previously anyway so agrees to give you as long as you need to get the loan.

Two years later, the owner of the shop asks the shop assistant if he has sold the bike, he says no but I do have a guy that intends to buy it but hasn’t got any money.

There is NO contract in place, the shop manager doesn’t record it as a sale in his accounts, the wheel manufacturers who are on a 6% commission based on wheel sales don’t have a presale invoice either because there is no contract.

If you no longer want this bike, you can go off and buy something else to get to college and in that scenario the shop assistant has lost time not trying to sell the bike. The shop owner is also annoyed.

Now do you get it??????

Pork’s

This thread is beyond ridiculous

The situation over at PYC is due to their biggest clients putting contracts on hold due to the biotech sectors funding drought. They are referring g to EXISTING Clients they were expecting to renew in the current FY.

Shame on you @PM2022 trying to spin this