Member Info for Porky9

No @Iceman888
The MM's led by the house broker Cenkos are more than happy to sell at 12.5p knowing imo that more likely 20m shares will hit the market at 10p or less hence sell now and go short knowing it will cover off in the placing.

Watch this space, if i'm wrong and there is no placement this side of Christmas i will formally apologise to you.

Take Care

FAO Iceman888 and PM2022

I'm impressed, i knew the ramping squad would be straight on my post, to bury it down the board as quick as possible but i didn't think it would be within seconds - great ramping work guys 10/10

Answer my post and tell me why i'm wrong? Why is it not a possibility?

It's not the desired outcome for you personally but that's because your buy in price is too high. I myself have done VERY well out of trading here. Nick wont be complaining either as he has made a bloody good ROI and ready to support the next placing to rinse repeat again - that's the nature of AIM, key is not to get too greedy.

Good luck

FAO Iceman888 and PM2022

That's not in question is it @iceman888 hopefully all the products can do some good but it will take years and it being on the AIM index, quite rightly, means it is well positioned to raise capital to facilitate that as most on the AIM do.

Timing is everything buying and selling at the right times. I am not a buyer here at this level. 7p is my entry point and i believe i will get it in time as previously explained.

4D ran out of funds, it didn't have a back up but not point in reminding everyone of that @PM2022 it happens but to say investing here is without risk is plain folly. You can make good money in this stock buying and selling at the right time. Nick has just proved it today, he offloaded 10p stock at probably circa 14p (40% gain) and that was on the back of 10p stock sold before at 16p odd (60% gain) and not to mention 5p stock from way back which he sold at a 5 or 6 fold gain when i was supporting the pumping team on the rally past 40p - those were the days ehhh.

Good luck to you, but don't think the two of you can kid a kidder, you can't

Pork's

Plain BS, complete conspiracy theory, Porky trying to buy in cheap, who cares, your call but this is a discussion forum and here is my reasoning why there will be a placing before the year end: -

1. Last time I watched activity on L2 like this and blocks changing hands was prior to a new issue. Company are VERY leaky in my opinion and those in the know start positioning before news breaks. MMs try to hold 12.5p now, drop to 10p or 7.5p as we move closer to the placing date. CNKS the house broker is currently controlling the bid.

2. We are fast approaching their financial year end 31/12, my best guess is that cash burn will be higher, it can’t not be with the new appointments and projects. As such by April when they release news it could drop the SP making a placement even harder to do so then. So better to do it early than later. Get the bad news out before the year end and start fresh in 2023

3. They already have authority to issue 20m new shares so could just proceed and issue at 10p to bring in 2m of working capital or £1.5m of extra capital if its a t 7.5p Do it now whilst the SP holds up is a good move. I would advise them to do that if I were a NED on the board.

4. Its evident from the update that 201 won’t bring in any revenue any time soon otherwise the update would have been more detailed on timelines. This is of no concern imo, it will either happen in time or they will ditch to find a new buyer, but it will affect cash flow. They will need to cover the working capital. I would add that they MUST know the position by now at THX. This is a slow work in progress situation that will take time.

5. The plans to ditch buying a lab business with clients to now just wanting to lease a premises tells me that they don’t want to use future placement money towards funding a lab business as they now will likely need it for working capital instead – this is a change in plans.

6. Adam resigning is the right call. If they move to a placement and he is in the roll he risks falling foul of insider trading regs if he supports, it. I think the timing of that is interesting but if I were in his shoes, I would do the same. Either be a full NED subject the rules or stay as outside investor.

7. Nick has just offloaded 1.3% of the shares in issue. From a business perspective I doff my hat to him as it’s the right call. He has effectively de-risked further by dumping his 10p placing shares from June at a profit 30 or 40% even and moreover. Also, he now has cash on hand should a placing come to the table at 10p or possibly 7p if it’s a bad day to re-invest. Smart money.

Feel free to take this post apart as you wish, I’m sure the resident ramping squad will have a go, after all its total speculation but frankly, I do see it as possible reality. Let’s see what happens how it unfolds.

Good Luck.

Pork’s

TDK
1. V Formation Limited were appointed to handle Shareholder comms including RNS releases. That was the RNS update 17th August - Unless that's now changed hence no excuse. Agree with your points all the same.

FAO PM2022
2. No. They stated that a lab acquisition with existing Clients would be immediately revenue producing. A lease on a lab will be immediately increasing cash burn. That is a major difference.

3. They still have shares pre agree they can issue for capital. Nobody has issues with dilution to fund expansion. They do however get p@ssed off being diluted as a result of share issues just for working capital.

4. Despite the continual ramping here, I have seen ZERO evidence of any business that Ken funded. Secondly, patent changes to 201 i am yet to see proof they are in Valirx name and thirdly i still wonder if the objective of THX is to upgrade the patents and find a buyer BEFORE they complete with VAL hence de-risk their position.

For me if i had a signed LOI in front of me and 12 mths later it still wasn't executed, alarm bells would be ringing and i would assume the buyers intentions were false or at best misleading. I would certainly be talking to other parties to protect shareholder interests.

Hi Adam,

1. Do you know why they have decided now to lease a lab which will add to their cash burn rather than go with the original plan which was to buy a lab with existing clients and build on those clients to deliver an ongoing income whilst they continued to develop the new and legacy assets?

2. Also, its clear from the 201 update that the position is unlikely to change anytime soon. Did you get the impression from the BOD that they do have a cut off point here? Will there come a point where they will actually say enough is enough and we need to open talks elsewhere? or are they just going to let it drift again until they run out of money and come back to the table to raise more cash to keep the lights on?

I think some are losing sight of the fact that the SP is currently 55%+ higher than the 10p placing on 30th June

To clarify this means that VAL have delivered north of a 55% return in 5 months. In this market i would consider that as exceptional.

It's going to take time. Will check back in the new year looking for progress on the possible lab acquisition so they can start delivering revenues and reducing cash burn.

Good Luck

3/3

In closing, @Iceman888s call on 201 is right but a review alone is not enough, they need to provide full clarity of this deal and make decisions. if it means closing out of THX altogether and looking for a new partner, sobeit. We currently have time to do that.

Currently we are not just losing out on capital from this deal or service fees we are also missing out on market opportunity, that money being diverted into new product lines such as kings or into a lab that could start supporting revenue generation from elsewhere.

My own personal view is we should cut our losses now and move on looking for a new partner for 201 but IF Suzy is still hell bent on maintaining this ridiculous situation, then she needs to get tough and look at it from a commercial perspective and in the interests of shareholders. Ask herself would she pay $10k of her own money for a year to maintain this with timelines missed and no timeline in sight? If not, why should she expect shareholders to?

Interesting to see how events unfold. GLA

As VAL do read this forum and due to the impressive number of like's to Icemans post, i also liked it, they have to act on it imo. To ignore SH feedback of this level would not be good for ongoing further support. They need to act now.

Pork’s

2/3

I would also be asking for the $10k paid per month thereafter to maintain that exclusivity until the agreement executed, IMO THX need skin in the game frankly.

IF THX are not prepared to make any payments or fund even that low a payment for the support package then VAL need to either withdraw from THX offer altogether and search for a new partner or remove exclusivity and seek a new partner alongside this deal and move to the deal that completes first.

THX can’t have their cake and eat it, it’s a commercial world out there. VAL are a listed company, THX are not they are a start up. THX need to prove their worth and deliver what they say.

I want to point out here that we are not talking big sums. I see no reason why THX can’t raise such a small amount. $2.2m USD for the entire two years of the executed contract is NOT a lot of money we are talking about let alone the low-level service support fees.

As terms of this deal are now public it must be possible to now find a better deal elsewhere in the market especially if 201 has the potential claimed. “it works !”

What I was particularly annoyed about when news of this deal first broke last year was that I felt the company had effectively given the company “Silver” away for a song. I felt the deal was a) pathetically low in value to where it should be and b) with an unknown start up that couldn’t pay anything. Had it been this low but with a well funded Biotech my view may have been better.

The consequence of doing this deal and later NEVER being paid anything is that VAL forced a discounted survival placing at 10p on us despite previously saying that NO funding would be required, and this has damaged VALs market credibility NOT the credibility for THX.

You could actually argue that THX have played a blinding move here because they have what they need, it’s without risk, its at a massive discount and its still exclusive for them and there is no pressure to deliver anything.

Armed with the information we now have; VAL really need to be having those difficult conversations. THX have agreed timelines and failed to meet ANY of them. They are proving to be an untrusted partner. VAL have potentially agreed a discounted deal with them and THX should do the decent thing and pay the money to execute it. It’s a cracking deal.

I don’t want to sound harsh here but if THX can’t raise the money that really isn’t our problem, VALs job is to find a partner and terms to take our legacy products forward that can pay us. We need to use that capital. If we don’t then history will just keep repeating itself here.

Cont…..

1/3

I would like to contribute to this thread.

To be fair, @Iceman888 you make a good call for an internal review of 201 BUT it’s a commercial decision around how they take this legacy product forward that they now need to make. They can’t afford to allow the clock to burn down yet again without any action and force another discounted placing for survival cash.

1. The initial LOI 2/11/21 and subsequent CENKOS report confirms IF executed it would deliver $2.2m USD (£1.85m) to VAL over 2 years from signing. We need this payment.

2. The service agreement signed agreed that VAL would support THX with service support. They confirmed a fee of $10k USD per month from November 21. We need this payment.

Since the above confirmed, numerous deadlines missed, and no payments received. Further, there is NO clear indication that attempts to raise cash have even taken place. No prospectus which many here may even support, I know I would, no website, no IPO details in fact total blackout regarding progress.

What VAL have Implied: -

1. Timelines have been removed and exclusivity extended, confirmation checks have been made but no clarity regarding what they were and how long VAL are prepared to continue with this situation.

2. More importantly they implied that THX are delivering greater value than the service fee per month as THX attempt to secure new patents, yet no clarity if these new patents would be registered to VAL or would belong to THX if granted. This is a change to the initial engagement.

Further Suzy has made it clear she “likes” working with THX, but this is a commercial business, ultimately VAL need to focus on revenue generation, not picking partners because you like them.

What is causing the delays: -

Playing devils advocate here, its possible that a) THX just cant raise the money and need more time, they are clearly skint and this is what we are led to believe or b) have no interest in raising cash to pay Val, they really only want to do that as a bridge once they have a commercial partner lined up. If they could secure for example a commercial partner prepared to pay say $4.4m down, they pay Val half and pocket the same acting as an effective middleman broker its then a win win for them without risk? Is this the game? We don’t know.

What VAL need to do: -

Put simply; start thinking commercially not personally. IF I was on the board of VAL, I would be saying look, THX as great a job they may be doing on the R&D and patents side etc we just can’t afford them. 201 needs to start returning some capital now. We can’t expect our shareholders to go on funding this legacy 201 program forever without execution of the agreement as we have other new lines such as kings now that need our support and we are not an infinite cash cow.

I would be saying to THX if you want Exclusivity to continue beyond the one year anniversary, whilst you continue to seek investment then we want payment of $120k for the years service f

@Iceman888
Unless a comment on this BB is a ramp or ultra bullish its totally discounted by you and you revert to insults. You don't need to do that.

Let's get some FACTS straight shall we:-

1. Nick sold a chunk of stock recently that he purchased at 10p in the placing at prices around this level. That is a shrewd move. Profit is king currently. He won't be buying anytime soon unless it's for short term trading purposes, again shrewd move.

2. You believe the SP is LOW yet the SP has increased by over 50% since the 10p placement 30th June 22. IMO the SP is doing very well. Its only not in your opinion because your average buy in price is higher you don't like it but since June the value has gone up. Suzy has increased the company value.

3. Four months has passed since the placing, cash will have now reduced by about 115k a month or more plus the increased costs with the new additions, so let's call that close to half a million more cash burn. There is ZERO chance of ANY income coming in short term only more cash burn. That position can only change once they get the lab funded OR a legacy product secures a licence fee. Kings will also need investment. Again Suzy has managed this well so far as the SP has increased in that time.

4. NO news, ZERO update whatsoever in respect of 201. With the markets as they currently are and capital debt raising IMO that won't change in the short term IMO. It will take longer. Should VAL need to pull out of the THx deal it may take even longer.

5. Todays RNS confirming Kings is into an SPV was a solid move, they did what they said they would deliver and the SP has increased and some sold on the news, again shrewd move if its profit taking. It will need further investment.

Now, the fact is that i still have some free stock here that's my business but i can clearly see it will take some time from here. Nothing wrong with that ,This is NOT a get rich quick investment, I am NOT in any hurry to add just yet, i have set my buy in price, that's my call and I believe i will get it.

Whilst i don't get all my stock calls right, 4D being a glaring example, i do iro of some. In respect of Investing here i have done incredibly well buying VAL stock and selling at the right times. I recently traded some here as many others have for profit.

Let's see how events unfold, i am not in anyway dissing some of the great work suzy is doing here, i am just being realistic that it will still take time yet.

Good Luck and I will join the debate here again in January unless anything materially changes before then which i don't see as likely. I am not here like the ars@ end of Dobbin posting about life boats daily just to cause trouble - i am posting as a strategic investor taking positions on some AIM plays.

To repeat, this play will take some time IMO as i see it and they will need to raise further funds to make it happen once the market improves.

@Gliders01
Because he had already sold a chunk of his 10p stock at 15-16p or whatever at profit, that's good trading. Profit is king in these markets currently.

Some here are still losing sight that the current SP is still an eye watering 50% higher than the recent placing. The SP has done VERY well. Very well recently.

I will add here at 7p to 8p and i still believe i will get my target this side of Christmas, they are doing great BUT it's going to take time. Meanwhile, investors want instant results that's the problem.

The new Kings project will need money and so will the lab, the cash in from 201 should that finally happen will only add to working capital, should 201 take longer into 2023 then options for a new partner for it should be considered.

Stock stays on my monitor list for the current time.

GL

Some lose sense of perspective.
The SP here is holding up VERY well it's still 45% higher than the previous 10p placing to buy in and a placing further down the line to follow to fund the lab.
Still very early days and much to do

IF THX cant complete on the finance side then they need to start looking for a better funded partner sooner rather than later but otherwise, progress is steady imo

GL

@freddleboy
Personally, it's good to have a balanced debate and I like hear what Dobin the pantomime horse has to say, even if it's just GM working the ars@ end.

@TDK
Sorry, no idea who Salma was had to google. I prefer a more mature vintage wine these days. Now if you want a proper woman, it doesn't get better than Fiona Bruce:) she doesnt do swimwear shots as a general rule but sometimes less is more...

@Iceman
Yes and he also said:-
The rule is, jam tomorrow and jam yesterday - but never jam today.
Lewis Carroll

Pork's

We are getting more updates now since the company went into administration than we did when Duncan was fully active. You couldn't make it up. LOL

The shares were temporarily suspended from 24/06/2022 12:30pm that's over 20 weeks ago or 4 months, not sure how long administrators take but you would think by now we there would be some kind of update.

Would like to see this closed off now, I can use the loss once its confirmed against my capital gains.

Appreciate the time you are putting in to explore the progress. Great work. I am still further evaluating. As shareholder liaison are you able to comment: -

Suzy mentioned that 201 wasn’t far enough down the road for commercialisation and later went on to underline the extent of the work that THX are putting in to secure a new Patent and reformulation of 201 to meet this objective.

On the SH question about receiving payments from THX she actually said something like, they would give us the cash if they had it but there is significant value in the work they are doing.

So, my questions are: -

1. In the earlier CENKOS report they clearly confirmed that the THX were going to pay from last November $10k USD per month for VAL’s service support. This never materialised so are we to take from this that the goal posts moved following the agreement in that VAL now perceive the work THX are doing is more of value than their own and is worth this amount per month? OR are the VAL service fee charges still accruing?

2. IF VAL had their own lab could they do the work that THX are doing or is it more of a case that as Ken Sorenson has a background as a biotech Patent Examiner, its actually his patent experience they are leveraging here and that’s something that VAL can’t do or outsource easily?

3. Are we at any risk that if THX secure a patent and reformation of 201 they actually have full claim on the IP over VAL? Do we have any risk here? Is it THX that will own the patent and is it being registered to them not VAL? If VAL were to find an alternative funded biotech to take 201 forward, could they do that and take the patent with them?

4. Just playing devils advocate here but do you think THX plan here is not about raising funds hence lack of progress but more about reformulating, securing a patent and then finding a subsequent deal with a Biotech to take it forward and then potentially following through on the LOI providing they have a big enough premium based on what a potential Biotech pays only once that’s in place? Hence, we could be waiting a heck of a long time for this to come good?

5. As THX are a skint partner wouldn’t it have been better for VAL just to outsource the legal patent work, do their own science work to position it and just continue directly to find a Biotech to take it forward and remove this “middleman” so to speak? I mean do VAL still have this option?

Appreciate that’s a fair few points but I was unable to make the fireside chat and from a further investment perspective would be very useful to know.

Thanks in advance

Pork’s

@Laura2022
Look, the problem is that Biotech's in general just burn cash and many are in a perpetual cycle of raise spend raise spend, that's what they do on the AIM. Worse some are just lifestyle businesses for the Directors. This total disregard for shareholder money is outrageous and many only actually care about their supporting investors when the business is skint again and they need yet more money to survive.

Granted 4D was a mitigating disaster no doubt about that but here PYC had a real chance to get the business to a point where it was self-sufficient. ie NOT needing further hand outs. I expected the loss gap to at least reduce with higher revenues not widen further.

Today we discover that the revenue went up but the losses increased further. Thats why the market reaction to todays results has been negative. You could argue that not securing that extra business would have delivered a better bottom line.

Anyhow, Each to own i guess but if he turns it around in the next half, i'm in. IF not and its more cash burn i sit on the sidelines.

GL

Suzy loved Science and fame
But making money was never her game
She gave the prime 201 star assets away
To a poor American with not much to say
And now posters here are going insane

Another case of an AIM business saying one thing and doing another.

This stock was actually on my watch list due to its connection with VAL and previously they were implying that they were close to break even and with the new contract wins could swing into profit. I was today a bit shocked that despite the trade revenue increase the losses had widened.

Just puts you off investing into an aim stock where cash burn is increasing and you know continuing that trend can only result in further placements down the road and more disappointment

Genuinely expected the net profit to just move into the black today or at least close to it. Stock remains on my watch list

GLA