Member Info for Porky9

@DocklandsExpress
Wow, that was one deep post.
I get your point but its your acceptable level of risk. I hold a lot of PM and even Gold recently took a small hit so nothing is certain. Events could have played out differently here on the placing for sure. The BOD don't have any real skin in the game and of course that is a factor.

@PM 2022
Just also wanted to clarify your point on CENKOS. The warrant deal is a NO LOSE deal for them. Should the SP break 22p in the future they can buy passing the money to the business, issue more shares and then dump them in the market hence dragging the SP back at that point. It was a crap deal and should NEVER have been agreed in the first place. Better NOT to keep reminding us of it.

Anyhow, see how events unfold. A good uplift on the SP Friday so onwards and upwards, you never know maybe THX will surprise us....

@rhubarbmk2
Sorry, to clarify I mean trading below cash.

BUT what I would say is this, I openly admit my stance on fledgling Biotech’s is currently negative. Having taken a hit on numerous bio plays in my portfolio I have reached the conclusion that long term investing doesn’t pay, in the majority of cases they eat capital, take years to commercialise and failure rate high with constant dilution typical

The market rewards short term players. Those in at 10p can grab a quick 20% if they sell at 12p, a bird in the hand and all that.

Stuffed on 4D which had 14 products, one very close to commercialisation awaiting FDA and stuffed on SNG which had cracking results at P3 but fell at the last hurdle, the sector is littered with other examples. It’s deluded not to think this is a high risk play.

In your position I would have done exactly the same, to protect your investment buy more in the placing the alternative would be lights out but its not without risk. That risk can be reduced if the BOD act – currently I’m not sure.

@PM2022
You can’t keep saying its cheap and downside minimal, its not. IF THX don’t get funded this stock can be 4p or 5p in an instant. Jeeze, 4D placed at £1.10 and fell all the way down to zero, it can happen.

@SouthernInvestor
I don’t know tbh. I am not a scientist or a patent lawyer, Adam may be able to clarify on this point. BUT my gut feeling is from the small amount of information we can find on Ken, his background is in patents. As such he brings these skills to the table. I am not sure if VAL can cover that off themselves without Ken and without further cost but that alone is not enough. I would rather 201 be with a well funded player but we must work with the cards dealt. We may end up replacing THX anyhow.

@All
One idea to resolve the BOD deficiencies; they acquire/merge with say PYC that is now at break even on say a 1 for 3 equity swop and Jim Millen joins the board with share options, they buy the lab using the 20m share issue and debt and grow the group out that way. Then they would be a force to be reckoned with and self sufficient to grow SH Value.

Its clear to me that doing the same thing and expecting a different outcome is foolish. They need to be acting now IMO and on the basis that THX will likely NOT get funded in the short term. That's how i see it.

GLA

Pork's

@DH1981
Likewise, update schedule with milestones also in respect of 301
It would bring further Investor confidence if we knew how the other two legacy products are also performing

@SouthernInvestor
Suzy confirmed last December that they had re-negotiated and re-stated the CRT license for VAL201, ostensibly to allow the TheoremRx deal go ahead, by splitting out the oncology and non-oncology licenses, but also updating the terms throughout. So the license that George knew is in fact ancient history. It's one of the list of skeletons in the closet that they dealt with.
So i don't think the license is that big an issue. I do however think the relation with THX is a draw for VAL because they are effectively helping them with sorting the patents and this is possibly outside VALs current skill sets and they need THX hence why THX have no concerns over possibly losing the exclusivity here.

@Viera
Hey Nick, hope your right, I appreciate you will want the 10p placing to be the bottom but as i posted previously there are loads of fledgling Biotech's currently valued at less than their CAB figure, that's the reality. Markets are not looking great per sae. I also just don't see THX getting funded anytime soon due to the financial climate stateside but lets hope I'm proved wrong and news drops. I personally don't have an issue if THX doesn't get funded, what i have an issue with is IF VAL are blind to this risk and are not making any contingency plans?
If we need a better funded partner for 201 lets crack on with it now and explore possible options, NOT in six months time when cash reserves are depleted further again and another raise required to keep the lights on. I'm saying act now.

I also want to see two board appointments, i don't think either you or Adam can surely be totally happy with maintaining the status quo as it is - they need support??

Further, we need to crack on with the lab plans and do a placing for that if required. creation of revenue streams is the way to avoid a constant cycle of raise, spend, dilute, raise again.

Finally, lets hopes Friday's big uplift is a sign things are on the move, perhaps THX are going to deliver the finances after all? Anyone guess

GLA

The administrators are currently exploring several strategies, including the sale of the business as a whole, a sale of 100 per cent shareholdings in its subsidiaries, piecemeal asset sales and a refinance.

Report confirms offer deadlines had been set with interested parties but the details of indicative offers could not be disclosed subject to confidentiality agreement provisions.

Oxford Finance has the benefit of a debenture dated 29 July 2021, comprising fixed and floating charges over the group's assets, with an amount outstanding of $13.9m. Interpath have confirmed that, subject to a successful sale of 4D Pharma, Oxford Finance may recover against its indebtedness in full.

Secondary preferential creditors, comprising HMRC and the Financial Services Compensation Scheme, are expected to recover their indebtedness in full.

The administrators have also estimated that a dividend will be made to unsecured creditors, but the quantum is currently uncertain - This is the official position.

@Zebbo, not sure how you arrived at 3p but despite personally writing this one off 100%, i wont tempt fate but it does look like something may well be recoverable. Your 3p call may not be that far off. We will know soon enough.

Disappointing, not sure about anyone else but it really does put you off fledgling biotech's per sae. They just eat cash and investors keep getting diluted and just take so dam long to get ANY product anywhere close to commercialisation and the risks of failure at every stage even at phase 3 so great that most are not good long term holds.

The secret really is to bag your profits on the SP spikes. Had i done that on 4D i would have made some reasonable returns, instead i got greedy and down averaged.

GLA

NB. Even at the 31/3 the SP was 34p and was still holding up at 28p at the end of April.
At this point they had circa 8 weeks cash run way left.
Surely in conversations with THX they would know at that point that the money was NOT going to hit their account in time?
Anyhow, we are where we are, lets see how events unfold from here.
I will check back in a few weeks time
GLA

@Ironmighty
I am totally pro Adam and his efforts to help steer the BOD. They need support. FACT. I will NOT be adding to my position here until the board is bolstered.

At the end of December and the missed deadline, the placing was coming like a train on the tracks, they were going to run out of cash in the June, FACT, yet the BOD stuck it out based on information fed to them by THX and did NOT make any provision. Avoiding that placing in early Jan cost SH dearly.

Even TODAY we still don't know how much money this stateside start up is trying to raise. SH remain COMPLETELY in the dark and no time lines. There should be set out milestones IMO.

By the start of February knowing the THX money was still not likely to drop then AND they were not going to be able to pay staff salaries in the June, none of the support contract fees from the November were paid by THX yet they still failed to act. I would point out that the SP the first week of Feb 22 was 30.25p even a discounted placing then would have got us 25-26p

So sorry but you can post what you like, there has been serious miss-management. Now we can ignore the past, the CENKOS warrants deal and this current balls up and quite right we need to move forwards, i fully agree. They need the opportunity to turn things around BUT lets not delude ourselves;

Doing the same things and expecting a different outcome is madness, they need to bolster the BOD, sort out the lab plans and with regard to the three legacy products draw up proper reporting timelines, notify parties of those milestones and time lines and report back to SH in a timely fashion in that regard.

IF Kevin had his own skin in the game, i do wonder if he would have allowed THX to continue not paying them the 10k USD support contract per month or allow this exclusive to continue without ANY payment. At this point, 201 should no longer be exclusive IMO. Anyone can do free business.... maybe placing money just comes too easy

Problem is @PM2022 whichever way you cut it, many fledgling Biotech's are actually trading at less than the CAB so irrespective of whether you agree or not, the SP here at 11p is holding up VERY well all things considered at more than 4 times CAB value and meanwhile cash burn continues and TRX are on the never, never. Frankly, I think i will have an opportunity shortly to buy circa 7 to 7.5p, we will see.

Unfortunately, a big chunk imo of those in at the 10p will dump on small profits and that will take a good few month's to clear. That's why the moment the bid goes up, its sold into and why you have numpties on twitter trying to pump the back end out of the SP with tales of 22m placings in France, dear oh dear as they are 10p holders imo.

News of further THX delays would be sure to reduce the SP hence probably a good move removing the timelines......

The right commercial move, whilst unpopular, would actually be to issue the 20m shares at 10p now, buy the lab part cash and shares, issue the 8.5m options and perhaps bring the lab manager onto the board with some of the options. At least at that point, all the potential dilution is out the way and the business is bringing in revenue and can start to be self sufficient. IF they don't do that and leave it and THX still don't get funded within the next six months CAB will have more than halved since the placing and a lab placing would need to be at an even greater discount.

We will see how events unfold, GLA

Well, it’s what have, could have, should have. Hindsight is a wonderful thing isn’t it. The principal issue was that Suzy was boxed into a corner because the business maintained that they DID NOT need a share issue when the reality proved different.

What I personally really struggle with is that, looking just short term, i.e., the next two years only, TRX under the deal would physically pay out at milestones $2.2m PLUS the $10k pcm service fees since November not paid. So, we are talking let’s call it £1.8m

I fail to see why a company can’t raise this amount of money in fairly short time. Seriously, its not a lot of cash. Yet they are prepared to jeopardise the deal by defaulting on the service charges. This tells me that they have no concern that VAL might pull the deal?. Perhaps TRX are doing the patent work to get the license extended hence VAL need them as much as they need VAL?

I am deffo pro Adam as a spokesperson but that is a double-edged sword and will need VERY careful handling so the three don’t fall foul of insider trading. They can’t advantage one shareholder over another, so if there was something that was SP critical, perhaps TRX considering being replaced for example and Adam sold a chunk of stock knowing that in advance the penalties of such would be severe BUT carefully handled I do see it as a positive.

For me, I want to see the new NED appointed to replace KA and an additional NED to bolster the board as priority, so they don’t repeat past mistakes. I totally agree that SH should back off and give Suzy the room to get the business back on track. She is doing a fine job IMO against difficult conditions, but she needs help and its foolish to do the same things and expect a different outcome.

The lab plans also need outlining if they are doing a raise for that lets get it out the way now, likewise the options.
Appreciate that’s a controversial point but the sooner this business is bringing in revenues rather than rely on SH money the better, every day without action is another day’s cash burn. It will take time.

GLA

Two accounts can not run on the same IP address with LSE Both would be banned
I’m calling you out for posting blatant lies
Now run along Chump

@TBRH
I agreed not to post for a couple of weeks but I’m not not having you spout utter cr@p
You were NOT reliably informed of anything you chump, I don’t know who @SouternInvestor is, nor do I care or have to prove anything to you but we are totally different investors.
It’s also such a total irrelevance, discuss the stock not individuals
I have reported you to Claire at LSE before,

As for THX news it will take time. If not they can look for alternatives
GLA

@Harvey03 @OB
LOL, yes prefer a more positive outlook!
Don't want to offend anyone, life is far too short lets face it.
Be back in a few weeks see how the land lies, share options, update on 201, lab plans and go from there
Still early days for the business isn't that right @OB
Take care guys
GL

Anyhow, I think the last time a load of guys were singing "This is the Self Preservation Society" it was just before the bus they were all in went over the side of a cliff ...... well left teetering on the edge anyhow...

There is a message there somewhere...

Have a good weekend

Pork's

Fair enough @RB
Catch up in a couple of weeks
GL

LMOL - Yeah they are coming to take me to the funny farm later
Just trying to make light of the situation

No telegram nudge nudge wink wink, No mystery swiss banker on Twitter nudge nudge, you cant kid a kidder, i keep telling you.

Look the moment there is anything to tell us, Suzy will be immediately on the case, it could be absolutely months yet, if at all. This is just yet another P&D push.... Im just amazed some get sucked into it...

And now we have David Dickinson buying in. or is it a different Duke?.... Its not Andrew is it? that could be bad for the stock...

Leave you to it, catch you laters...

"The Duke is buying..."

Bloody Hell, David Dickinson, didn't know he was into penny shares :)

SING:-

This is the self-preservation society,
This is the self-preservation society

Go Buy some stock…. or you might be late
The pumping crew are ready and will seal your fate
So, lets pump this right up to the skyyyy
The 10p crowd want to dump it on a high…

Get your skates on mate
Get your skates on mate
Get suckered on a promise that the deal won’t be late
So, lets pump this right up to the skyyyy
The 10p crowd want to dump it on a high…

This is the self-preservation society,
This is the self-preservation society

Valirx
England
Valirx
Babadab-babadabadab-bab-ba...
England

Loving the originality of these Pumps
Taking Notes this is good stuff, i mean if a couple of pumpers in a telegram group say its next week, then next week it is :)
Still if people buy off the back of it why not, i say....

What happened the hush hush wink wink 225m raise in France last Friday? oh forget that one, the real deal is next week now.

GLA

@OB
You are a great top Guy in my book, you know the score. I would certainly buy you a beer if we ever meet in the future,
As they say, success is a journey not a destination, takes time.

Penny shares are about as volatile as they come. A lot of bumps in this road and plenty of time.
My post was to inject some humour, no offences intended although of course the snowflake generation might think differently... I know you don't qualify for that gen, think we are classed as boomers? 54? :)

Take care
Porks' (king Rat?)

LMOL
Honestly its like a ruddy pantomime on this board these days.
He’s behind you… Staring:-

The Hero – rhubarbmk2 (Adam) – The Charming Prince
The Pantomime Dame - Viera (Nick) - Loves the Hero but thinks the Princess is clueless

The Princess in Distress – Suzy
The Pantomime Dame - Kevin
The Genie in a lamp - THx - The Princess and the Dame keep polishing the lamp but only hot air coming out , no magic.

The Villain – Porky – The King Rat

The three Ugly sisters – PM2022, Iceman & Rightback -
(Favourite Song: Hi Ho Hi Ho, a Ramping we will go)

Buttons – The ever positive - Oldbaldy - still waiting.... 11 years is nothing, nothing i tell you.....

The Jester - Often played by Webbo502 but sometimes the Understudy - Nice to have a comedy element

Dobbin the Pantomime Horse – Head is Satu and the Ars@ end is George

Other cast members are still in rehearsals

GLA

Adam had to issue his TR1 which was outstanding following the placing. Job Done.

To be fair those in the 10p placement can make a very nice 20% to 30% so no complaints there. My own stock recovered a bit yesterday so cant complain. If it does another jump might take it before some of the bigger players do.

Triple news was a positive but it will be 6-8 years before they see any actual revenues from this if at all. There is already a drug coming onto the market for the NHS so this one is probably too late frankly, boat left already:-
https://www.independent.co.uk/news/health/trodelvy-nhs-breast-cancer-drug-b2122135.html

201 at THX, well we have been waiting 9mths already and they haven't secured funding, this needs to happen but its a struggle for start ups to get funded. If they still haven't secured funding in the next few weeks I can see the SP taking a hit, they will have burnt through more cash without any means of getting revenue in other than by further raises.

Then we have the 6.5m of share options to be confirmed and IMO a possible discounted placing to support a lab. They need that lab to support future revenues once placing income drys up. If i were them i would do it sooner rather than wait should THX not get finance and the SP materially fall.

Sitting back and watching how events unfold. I stand by my call that i need to see those board additions.

Also, you can read the CENKOS report on the portal. The house broker has the same buy rating as before at the 10p placing level. Come on guys there is ramping and there is ramping......

GL whatever your call