Member Info for Porky9

And....

If the BOD came with outlined plans along with the raise and were going to add Adam to the board or another heavyweight would the placing get Investor support then? I think it would don't you?

If the BOD were running out of cash and needed the raise to keep trading would it secure support then? Would it get support even at a discounted level rather than lose the lot? I think it would even in that worst of worst case scenarios don't you?

Its business

Good Grief @PM2022
So you are cut and pasting a VERY PRO post of mine from Oct 21, i.e a month before they then announce in the Nov 21 the disastrous RNS confirming the proposed sale of the companies crown jewel's, their top asset namely 201 to a fecking US start up.

Just accept that business plans evolve and change, i say again the business today is a totally different risk profile to what it was BEFORE the LOI was signed by THX.

Further, In addition, nobody had a clue then what a tCRO even was!!! or that a lab network of acquisitions was in the planning. I'm not suggesting that's a bad thing i'm merely pointing out its a change of plans and the new business plan will take more time to execute.

Put your efforts into discussion of the stock

Nope, not interested, i have said enough, i don't need to justify myself to anyone and i'm not going to start with some faceless individual on a stock BB.

Consider me as a regular postman if you like, i couldn't give a flying fig.

This is not a form for friends and family, to make friends or post for empathy, go to mumsnet for that. Its an anonymous forum for a reason.

Take my points on, argue them out, put up contra views just don't get personal with me. If your objective is just to have a happy slappy ramping forum, I'm not a supporter of that. You also have the option to filter me.

I admit i haven't called all stocks right, with high risk penny shares i would be amazed to meet anyone ever that has but i have called a lot right, I put my money where my mouth is and do my own research as best i can.

Here VAL have been VERY clear you just refuse to listen to what they have said.

In relation to my comments regarding a H2/July placement;

In addition to the scenario i outlined, as a bonus to Stella, she could then put on her CV in 18ths time:-

"Joined the board of Valirx for the start of their 2023 financial year, companies market cap was stuck in the 9 to 10m range. Through a lot of hard work and re-positioning, I was successful in increasing the companies value by over 50%"

I can see that being a reality, sort the capital, drive the changes, take the Mcap to a steady 15m, deliver a 100% return on her own cash - its doable and what i would do as a NED in her position.

Problem here is too many small shareholders including the ramping squad leaders namely ICE, PM2022 and RB want a get rich quick outcome. Business doesn't work like that, it takes time to happen.

I think the BOD have been VERY clear about this, they told you what they needed to execute the plan but you are not listening. You don't like it as it doesn't fit with your get rich quick agenda.

@RB
I will tell you smart mouth, FIVE, two of which were later positioned and sold to commercial buyers, one is under a buy and build agreement with a US Private Equity player and I'm still active trying to position the other two in challenging climate conditions. But that's my business.
Don't need to explain myself to you, the problem you have is that you are too close to the investment, you are no longer thinking commercially, i would go as far as to say you are "in love" with the stock.

@Sootysnipes
Think about it. You join a board as a nice fresh NED with a capital raising and investment background, your paid to do the job, first you evaluate and help the board with the plan, no rush. You buy when you expect a return. Stella has not joined for charity.

IF I was Stella based on where the business is today, I would get all my bad news out first, if THX is dead I would be honest about it. Kill the albatross. Confirm I was looking for a new partner. Publish the results and DETAIL my forward plan.

Then From July start of H2 I would propose 40m placing shares at 5p to raise £2m and 10m for existing to raise a further £500k this would then extend my working capital runway to the end of 2024 with a good plan for marketing the lab to get revenues to cover costs.

Then I would buy as a director in that placing, I’m sure Stella could extend to 1million shares at 5p and I would start updates from there. On this basis there would be 150m shares in issue. A third more than now BUT materially better positioned and on a personal level she would likely see a return on her money. If she got the mcap to £15m in the first year she doubles her money. Simples. That’s business.

Well penny shares on the AIM are always high risk per sae, penny biotech plays even more so.

What i find on the AIM is that no matter what DD you do before you invest in a company, you NEVER have all the facts. What they don't say is often more important than what they do tell us and it feels like CEOs can say what they like and not be held accountable.

Nomads are now trying to suggest that for a biotech to be seen as viable and investable it must have greater than a 12 month working capital runway ahead. This would certainly help if it was enforceable but even then there are still risks: the company taking on more cost, paying higher wages, funding being withdrawn.

In the case of 4D, the directors all had a massive pay rise before the collapse and shareholders were told the cash runway was 12 mths. So even if that was enforceable you would still get shafted.

As i see it, if you back these kinds of investments its probably worth a) as best you can ensuring they have enough capital to survive for more than a year and b) Ideally a clear route to break even of costs or ideally into profitability so they are not just reliant of SH money in the future c) only invest what you can afford to lose and d) one that works for me personally is should you double your money sell half so you are in for free. Certainly trade/take some profits money off the table when the going is good e) regularly evaluate if you would still invest today if it was presented to you as a new proposal

But yes, you are right it can be Red or black at best half the time....

The issue you have here is that the administrators obviously take a chunk of ongoing fees and there is nothing to stop Duncan either directly or Via associated companies buying up the assets from them and then selling them onto Merck or whoever further down the line. How hard have they actually tried to sell the assets?

I would hate for Duncan to profit at our expense and i fear this is the reality now. On a positive note administrators can get sued for damages if they do not secure best value for creditors including shareholders.

The stand out issues as i see it are:-
1. The fund was selling down continually, makes you wonder if they knew or had information that us private investors didn't have
2. Duncan was telling us the cash runway was 12 mths when clearly it wasn't and investors were backing him on that basis.
3. It now appears that Duncan was avoiding updating us on the Oxford Finance situation and shareholders remained under the false illusion from the RNS he put out that they had a further 30m of capital available to draw down - when in truth they were actually in breach of covenants and this wasn't likely.

Its the small private investors that get fully shafted in these situations. I would urge all shareholders reading this to contact Colin Lawrence - obviously its a slim chance of recovering anything but the action group is over 200 strong, a solicitor appointed acting for the group and its certainly worth a try.

@NorthernHero
If you are investing in a range of AIM penny shares I would say it's almost impossible to avoid the odd Lemon :)

@Metom
Not going to comment further on the SP, said enough, but i think it would be a big step forward for VAL if by the end of H1 some kind of conclusion can be drawn on 201. Its become the albatross around Suzy's neck as i see it. Hope things work out for you.

Oh Jeeze...
Guys, stop wasting time trawling through historic comments on BBs. You both have your own fair share of calls on stocks at different times. Market moves quick , circumstances change, and as i have said shareholders are often kept in the dark regarding material information. Its the way it is on the AIM. So stop insulting and direct your energy to your investments,

It is important to look at your investments and ask yourself if you were new to this stock would you be a buyer TODAY? My view remains that this is NOW TODAY a totally different investment proposition and risk profile than it was a year ago. We are now funding a tCRO a proposed lab network.

Meanwhile, Do you think the non disclosure agreement of information on 201 is in our interests or in the interests of THX ??? Shareholders need that clarity. WE need an outcome on 201 either way and hopefully before the end of H1 we will get one.

Anyhow, i will leave you to it as I'm clearly upsetting your ramping campaign. Come the AGM and clarity of the forward plans from H2 July onwards IF the investment proposition looks sound and shows a way to break even then as i said before i will possibly back the placing. Until then we have to wait and see how events unfold.

Good Luck

@Iceman and @PM2022
Is the objective here to try and discredit a fellow investor on AIM or explore the pros and cons of this investment? Rather than take on the points raised and give a contra reason why these are not valid concerns you both revert to insults.

You play penny shares on the AIM, they are high risk and you win some, you lose some. VAL have a window to turn things round. The ONLY ones that can change the fortunes of this business and it’s resulting value are the BOD.

Now just recently they have had a wake up call, they have lost at least some SH support from a key shareholder (Nick) and changes need to be made. They have a window to do it.

I await the AGM and what the forward plans and investment case looks like going into H2.

As it stands buying at 9.5p is a total gamble because if cash from 201 doesn’t land before end of June. They will need a further raise from July to support the business plan as it stands unless they make further revisions to it. You don’t like this suggestion but equally fail to explain where alternative income will come from to change this outcome as it doesn’t fit with your pro ramping agenda.

It is both prudent and sensible that the board has at least 12 myths cash runway or more from the start of H2 July 23 and Stella is no mug, she knows this and so do “Investors” not “punters” that follow this.

It’s another reason why the BOD are not buying currently as they will likely support the next placing to show confidence in conviction - that’s business. Wake up guys.

@Lockdowns
Wow, That post won’t curry favour with the ramping squad that’s for sure

But, you make a valid observation, kind of why I hinted the other day that Adam will be OK because if he really didn’t like events here he could drop a chunk of stock, completely sink the SP and launch a token takeover bid. Alternatively, if VAL can't raise funds, it goes the way of 4D into administration and then third parties Adam etc pick up the assets and take it private.

Personally, I don’t see it going that way, Kevin is not an idiot, supported some crap decisions I grant you, but on a good screw at VAL and providing they lay out decent plans going into H2 and can demonstrate a route to breakeven first and end the perpetual raise, spend cycle ultimately shareholders will support even if kicking and screaming as they go over the line.

Don’t forget, the SP was at 3.5p in April 20 so mcap has been in a far worst state. Let’s see what they do, they know from the previous GM SH thoughts, I’m sure they are getting on with it now. Time will tell.

Oh gawd @Iceman you do post some utter tripe. I could take your post apart in so many ways from exposing the weaknesses and gaps in the BOD to the dire handling of numerous negotiations. I just don’t have the energy.

Only comment I would make is the RNS service is not a PR tool it’s there to update SH of material events that can affect the companies share price. When VAL has something material to update the market on they will do it.

Look I’m sure you will do well long term, you just need to be patient, the current business plan is going to take time.

Annoying that AIM listed businesses do this kind of finance.

Agree with some of the comments here and we don’t have clarity on the investors or their objectives other than wanting a good ROI but issue often is that some are not always playing with a straight bat, if deals are agreed with shorting syndicates you can have situations where shares are sold down and brought back in cycles, depressing the SP as it try’s to rise with these outfits knowing the stock can be brought back at .8 with the conversion event.

Not saying that’s the case here just seen SH on other AIM plays being shafted in that same way and question why that call was made. Personally, Would rather see a plain share placing event and it’s done with.

Will watch and learn here see how events unfold. Good luck.

Well it just proves you haven’t read the CENKOS report. The cash burn here is now materially higher than £1.2m a year . I suggest you read it,

This is due to the extra appointments, the additional products and the investment in the new tCRO lab concept.

Anyhow, as I say let’s see what she delivers to end of June

LMOL
It will be amazing if 201 lands in the next few weeks, miraculous I would say....
Have a great day

Oh and as for 201 I stand by my call a few months back that I believe the only way that THX will pay over the £1.3m to VAL is if they secure a partner themselves to take it forward and only have to bridge the money. That will take significantly longer.

I don’t think THX have any desire to raise capital just to satisfy an LOI nor will the £1.3m of money be forthcoming during H1 - let’s see if Suzy proves me wrong.

Meanwhile you will likely continue ramping telling us an RNS confirming 201 money will be here and concluded from Valentine’s Day to Christmas Day - I give up

No @PM2022 you WANT the SP to reflect an mcap three times higher but that doesn’t mean it will be. As for AZN paying £50m for an asset that’s just plain pie in the sky, they don’t need to do anything. They can sit on their hands for years until timing is right for them if at all.

Look over at 4D, they had 9 drugs, 1 specifically awaiting FDA, they were in bed with Merck on one product that was proving highly effective alongside their Keytruda drug which is some 200 odd billion value product - they still didn’t buy. They waited. Now they will likely pick up the IP and assets for next to FA - that’s business, it happens unfortunately.

Your being totally nieve if you can’t see that

They don’t @DocklandsExpress I fully agree, it’s a long term play.

But the ramping club here is getting out of hand and anyone questioning a statement is shot down. They want the company’s market cap to increase three fold by the end of June but that doesn’t mean that it will. This is going to take time.

Actually @Iceman 4D went from a £1.10 placing to Bust - Zero. Shareholders lost the lot.

CEO lied or rather was economic with the truth specifically concerning a finance facility of £30m with Oxford Management which was later pulled. They also confirmed that the cash runway would last a further year and SH supported on that basis. This also later proved to be false.

I don’t intend to go into the ins and outs of that stock here, that’s for the 4D board, but VAL has its own issues and ****ging me off here regarding 4D does not and should not change anything, I haven’t called into question your poor calls on INSP or your calls on SNT another where the CEO feathered their own nest at the expense of the shareholders nor have I knocked you personally regarding your blatant ramping attempts here.

Investing in penny shares comes with high risk, we both know that.

This is a long term here and will need more capital to meet its business plan requirements - FACT, so to indicate this is a get rich quick play is plain wrong.

Let’s see where we are at the end of June ( H1) and go from there.