Member Info for Porky9

Thank you wise Buda_ noted

@Iceman888
Hey, look none of us can get it right 100% of the time especially if you are buying penny shares on the AIM which let’s face it is of the highest risk areas next to crypto trading. Biotech plays are specifically challenging at the moment per sae, not least due to the capital these businesses need and the long gestation period to establish drugs but also, we are in grim times with markets down, interest rates climbing and appetite low whilst a war is going on in Ukraine.

What my portfolio looks like only matters to me, for what its worth my portfolio gains were reduced in my 2021 tax year due to a hit on NCYT and in the current year I will likely take a hit on 4D but that’s my problem, but I take a balanced approach. As I say you can’t get it right 100% of the time.

Regarding VAL, yes, I will be supporting here later this year, we can all accept that the SP is volatile BUT hopefully after Thursday’s AGM we will have total clarity and can move forwards building from this point. I really have every confidence that come Q4 this year the SP position will be materially different for the better. I will also go out of my way to try and help find new Investors to back them and put some effort in.

You reference that you are disappointed in Suzy and the boards performance. I strongly disagree on this. She carefully handled the results statement. There were two mistakes cenkos warrant deal and THx milestones management, but neither are insurmountable. These issues can be fixed. What Suzy needs is a stronger team around her. You don’t know what you don’t know. She needs support.

When you have a fledgling business-like VAL, IMO you look at where the skills shortages are, and you bring the people in to address those areas. The glaring obvious one is a decent contracts negotiator and the second is a panel of NEDs with industry experience they can bounce ideas off and collectively agree on strategy.

If they do something to address Question 9 on the list, then we will also have the ongoing clarity we need and know exactly when an update is due. This is good for investor engagement as long as they stick to it.

At this moment, lets see what she has to say on Thursday, I genuinely think she can turn things around from here. Short term pain for longer term gain. The markets are Ugly currently which doesn’t help but they will get better, and VAL can and will do better, you see.

Pork’s

@viera
Thanks Nick, mutual respect, appreciated

@Iceman888
Fair enough, the business is far far bigger than the sum of one small shareholder shocked that some even think I have any influence over what this business does

@SouthernInvestor
Look all I simply want to do here Is try and ensure that all concerns are at least sent to the business. If they answer or not is another matter

GLA

@rhubarbmk2
Perfect, glad you can be in London to fight SH corner, brilliant

@sharedealer123
Question Added

@OB
Thanks
I just think its better that questions are asked and put forward than not at all. I agree that Adam would make a fantastic spokesman and far far far better than I but, we don't know what time he has available he might not have time to take it on. At least i'm trying to do something than nothing being said.

I would also point out that unfortunately for me, i am not is a position to take advantage of any possible placing if they do proceed with one. I do not have sufficient liquidity until late August as such i wont benefit if its called next week and will be buying in open market at a later time. So i have no hidden agenda.

I do however, have a vested interest in this stock doing well. last thing i need is another bio like 4D in my portfolio going south so in that regard yes, indirectly i would benefit if the result from next weeks AGM is positive.

IF they present well next week and cover off all concerns the outcome could well be real positive and attract more investor support. You never know. Could be good for the stock.

Recent events at 4D, SNG, AVCT etc will deffo cast shadows over this sector so the positive the better
GLA

c) Can you seek any external support/ promotion. Perhaps considering engaging a sponsor or patron or spokesperson with a specific condition that the pipeline drug is trying to cure/improve? This could also highlight the work of Valirx, update on the drugs journey on an ongoing basis but more important help raise awareness of Valirx which could in turn help you secure more investor support.

END

As i say, i DO NOT wish to represent anyone or anything. Simply happy to collate and send. IF SH have concerns better that the business knows about them than remain in the dark imo. Any questions added to this thread will be sent on an anonymous basis. No guarantees the Question's will be answered.

11. There is an SH concern that they don't trust the current board in terms of fighting for shareholder interests. Can you provide any reassurances that you are trying to drive the SP higher? One option would be setting Share Options or awards only when the SP reaches certain milestones which could be set at a higher level than the current SP. In one example perhaps 22p in line with the CENKOS warrant price.

12. A high desire for you to offer Adam Hargreaves a Non-Exec job on your board. We don’t know if he would be in a position to accept but SH feel they want someone on the team acting purely in SH Interests.

Legacy Assets
13. As a general point we feel that you need to tighten up on milestone dates for progress and updating shareholders of same. Nothing worse for investors than being in the dark. Can you consider more regular updates?

14. 201
a) You decided to support a stateside start up SPV to take 201 forwards. Was this the only option? How is this business going to be structured? Is it going to be listed? What will the ownership structure of this business look like?

b) We understand that despite the service agreement being signed 1/11/21 the 10k per month payment has not been received. Are they likely to pay it? Why did you agree to do all the support work to date Free of Charge?

c) Can you confirm now EXACTLY how much TRx are raising? Can you be sure that on reaching future milestones they will pay you and we won’t be in a similar fund-raising debacle?

d) We appreciate that Due Diligence takes time, but you are granting yet a further extension, is there a point where you will have to say enough is enough and go back to square one and seek a new partner for 201. Will there be a point where exclusivity for TRx will be lost?

15. 301
a) Is it time now to move this from the Japan partner and either look for a with a new partner to advance this or shelve the asset if can’t be advanced for what ever reason? We accept that not all pipeline assets will succeed are we flogging a dead horse here or do you genuinely see a positive outcome? Numerous concerns regarding lack of clarity on progress. SH feeling of being left in the dark for excessive periods. Some reporting milestones are essential here.

16. 401
a) What is going on with 401. It’s been at the end of phase 2 for what feels like an eternity. Is there any progress on this drug?

17. BC201 for sepsis
a) Will this move to Phase 1 or at least to point of being fully optimised? What timeline do you have to get to the fully optimisation point? How active are the partners on this?

18. New Assets
a) The Triple we await the update on, but can you also add to the pipeline the other assets that are also under evaluation?

b) Will you be able to add more new pipeline assets to advance? It would be good to see at least 4 new pipeline assets added this year. Is that realistic? Possible?

cont...

List so far:-

Resolutions voted
1. SH accept the need for a placing however rather than issue 40m shares now, half commercial half PI would you consider doing this in two smaller tranches? With the second deferred until market conditions improve or is this not possible? Shareholders worry about dilution but equally except conditions are dire.

2. The 6.5m Share Options. Can you confirm that at least some of these will be granted to new board additions made and is it possible that some could also be set as options rather than pure free issue on achieving certain improvements in the future share price. Investors want to feel that the board is fully focused on the SP increasing.

3. If you are proceeding with a placement and CENKOS are going to receive fees as a result can the disastrous previous 22p SH warrant deal with CENKOS be scrapped to avoid even further dilution and blocks of shares being sold by them further down the line.

General
4. You make numerous references to acquiring a lab. Have you a lab in mind? What is the expected outlay for this lab? Will it be funded by debt, or the equity raise or a mixture? What will the ownership structure be, will it be 100% wholly owned by Valirx?

5. You are building a Biotech at the forefront of Women’s Oncology yet only have one female on the board. Are you going to do anything to redress the balance?

6. Kevin Alexander has resigned do you have a replacement NED are you looking for one?

7. Would you consider adding at least two more NEDs in addition to strengthen your advisory panel to bring fresh ideas and help avoid future commercial pitfalls.

8. There is feeling the BOD needs a Contracts Manager or someone with really strong Biotech negotiation skills to join the team. Would you consider this?

9. In addition to your pipeline page on the website can you add a website page with the milestones expected for each quarter going forwards so Investors have some visibility regarding what we may expect updates on? Progress updates on pipeline drugs? Just basic info like trial dates, trial numbers, number hospitals and such like. There is a fear that SH can end up in a position like with 301 where they don’t hear a thing for years at a time. This needs a higher level of sticking to and reporting within specific timelines and milestones.

10. As the company relies upon the ability to issue new shares to remain a going concern, would management consider having a portion of their current salaries in shares to better align their interests with shareholders?

Cont....

Seriously....

Surely it is better for the company to have a list of shareholder concerns than be in the dark???

I currently have 20+ on the list and its growing....

@SouthernInvestor
Its not about representing anyone or anything....
On both forums there are investor concerns. I am happy to collate these concerns and forward them to the company. Equally you can raise your own questions at the AGM or directly with the company. But for those not attending the AGM and have questions but don't want to raise them directly i'm happy to forward. Its that simple.
This is better than the Company NOT knowing and SH voting with their feet and withdrawing support for the business.

@Sang
With respect don't try and bring your sanctimonious BS and conspiracy theories to this board. Nobody led Investors to ruin. The Biotech sector is high risk and Investors are old enough to make own decisions. And don't try and frighten VAL shareholders telling them they wont get funded. They will and it will happen, there is a lot of love and support for Valirx, this is a mere short term blip in the road.

@Sang
You are just being a dam after the eventer now. You went bear on the stock but you have also been in and out of it more times than the Hokey Cokey, so don't come the sanctimonious you knew all best BS now and dwelling on SH that currently don't know if its a total write off or if any of their money can be salvaged.

In a previous Interview, Duncan stated that he was in protracted talks with OF, he said that in a positive light. I genuinely believe that he THOUGHT he would get a positive outcome to his talks, clearly he didn't. After all this is NOT failed science that killed the business like SNG for example, its the debt and management side that has brought this down.

As at today we still don't know the outcome. Lets see what Interpath Advisory come back with. At this second the trading companies are still trading and as such there is still some small hope that it can be sold in its entirety as a going concern.

Don't paint the picture more gloomy than it already is as their is still much we don't know.

@pm2022
Added your questions

@nomlungu
Added your question

Will submit question list by close on Tuesday so they have Wednesday to consider. Please send ANY question that concerns you

I will also run question requesting on ADVFN

Its behind a dam paywall

Anyone have access to it that can provide a precis of their view? Anything we don't already know?

Thanks in advance

It's easy with hindsight making "what if" decisions after the event. Could have, would have, etc etc. If my mum had wheels she would be a bicycle.....

I genuinely think that 4D directors incorrectly thought that Oxford would continue the loan and possibly facilitate further draw downs possibly even into 2023 giving more time to arrange the placing to drive the business forward. Clearly the talks Duncan was in totally failed. In reality OF pulled out early.

Not sure what current CAB is but if cash burn is still £2m a month and they were expecting cash runway into Q4 roughly that's about what call it £8m and OF debt is call it 12m so by cutting it, with the assets at 4D they know they will get money back and wont take a financial hit. Banks are not in the business of risk. The company has labs, IP the bank wont take a hit its us SH that likely will.

Situation now is that it comes down to IF Interpath Advisory can secure offers or terms for any of the IP that represent sufficient funds to clear any remaining loans AND give us money back or a return

On a positive, if there is one in this mess. The depressed/crashed SP at 16p gives us circa 30m Value. Clearing the bank debt with remaining cash at bank by my rough estimate might be worse case say £5m short SO anything they recover over £35m would give us that money back rather than a total SH write off.

As at today, its just the holding company in administration all of the wholly owned subsidiary trading companies are still trading as such there is hope a buyer could be found as a going concern. Agree clock is ticking, i think they will have less than 30 days as staff will need paying in July if this months wages were covered before OF pulled the plug?

IF 0518 is delivering advantage to Keytruda then we have at least some hope that Merck will want to take over that specific IP at least and pay what its worth??? Keeping everything crossed.

Meanwhile, what message does this send out to Investors in fledgling Biotechs, these companies need our investment support if we are ever to find cures - the situation at 4D marks a dark day all around frankly.

GLA

Would forum posters be so kind as to reply with any questions they would like to know answers on. If the questions are not put to the business they have no chance of knowing if concerns are fully covered off or not.

@SouthernInvestor
Assuming your point was a non rhetorical question. The business relies on PI support as its yet to secure an II and bulk of SH use the LSE forum. Nothing wrong in referencing posters. As for Placing for Lab, the Lab will add value and we don't know yet until the AGM the terms of the Lab or if it will be part finance. Its a question already on the list.

Based on previous forum discussion i will also add:-

15. There was talk on forums that Adam would make a brilliant NED. Would the board consider approaching Adam for this role?

The past needs to stay in the PAST
And posts from the old guard have no place now on this board.

@Valtree you only post on this board to cause trouble with constant posts about life boats. I suggest you get yourself a job at the RNLI and sail out to sea somewhere, preferably as far away as possible.

A placing is not a rude word if funds raised are used effectively to expand or advance the business. The management team at Valirx are operating a lean and effective operation. Run well and following the placing I'm hoping will secure additions to further strengthen operations to drive forwards for ultimately stronger investor returns.

@Pm2022
You are a cracking guy and i know VERY passionate about VAL but with respect you know little about 4D. I hold significant Investor research. They considered they had cash runway into Q4 and wanted further drawdown from Oxford Finance into 2023. A 100% dilution placing was expected after the AGM with resolutions. Clearly their talks failed. Rather than the bank supporting and that position unfolding and risk a placement not being funded, Oxford Finance demanded immediate repayment of current loans forcing them into administration. The bank clearly wanted money lent back to avoid any risk of exposure should the placing not complete. They were also in breach of a banking covenant. The placing should have occurred earlier but they waited in error due to market conditions which continued to get worse. SH now await outcome if the business can be sold as a going concern or assets sold to recover any of their investment or write it off. Its a significantly bigger operation. Lets keep this board just to VAL only,

@Ells
Whatever – think what you like. You are so far off the mark its ridiculous but I have nothing to prove. What I do is my business

@OB
Thanks for the tip. I will look into that. I’m vaulting with Royal Mint they are expensive but I kind of like them. Have two sub vaults for the kids. When I say kids, one 18 and one 21 i understand the first 30yrs are the hardest… like your strategy though. Think Silver could also do well over next 5 years due to the demand in tech goods, just the VAT element i don't like...

@DI
You have a point but in 12mths the position could be materially different here. Markets could well pick up end of this year. The Bio Index is already showing signs. See how it goes.

@PM2022
I hear you, sorting a few things out, see how the AGM goes and events unfold as I said. Investment climate this year is going to be rocky. Outlook for 2023 stronger. Longer term these plays will do well. It’s the only way. GL

11. 301
a) Is it time now to move this from the Japan partner and either look for a with a new partner to advance this or shelve the asset if can’t be advanced for what ever reason? We accept that not all pipeline assets will succeed are we flogging a dead horse here or do you genuinely see a positive outcome?

12. 401
a) What is going on with 401. It’s been at the end of phase 2 for what feels like an eternity. Is there any progress on this drug?

13. BC201 for sepsis
a) Will this move to Phase 1 or at least to point of being fully optimised? What timeline do you have to get to the fully optimisation point? How active are the partners on this?

14. New Assets
a) The Triple we await the update on, but can you also add to the pipeline the other assets that are also under evaluation?

b) Will you be able to add more new assets to advance? It would be good to see at least 4 new pipeline assets added this year. Is that realistic?

Await additions

List so far:-

Resolutions voted
1. SH accept the need for a placing however rather than issue 40m shares now, half commercial half PI would you consider doing this in two smaller tranches? With the second deferred until market conditions improve or is this not possible? Shareholders worry about dilution but equally except conditions are dire.

2. The 6.5m Share Options. Can you confirm that at least some of these will be granted to new board additions made and is it possible that some could also be set as options rather than pure free issue on achieving certain improvements in the future share price. Investors want to feel that the board is fully focused on the SP increasing.

General
3. You make numerous references to acquiring a lab. Have you a lab in mind? What is the expected outlay for this lab? Will it be funded by debt, or the equity raise or a mixture? What will the ownership structure be, will it be 100% wholly owned by Valirx?

4. You are building a Biotech at the forefront of Women’s Oncology yet only have one female on the board. Are you going to do anything to redress the balance?

5. Kevin Alexander has resigned do you have a replacement NED are you looking for one?

6. Would you consider adding at least two more NEDs in addition to strengthen your advisory panel to bring fresh ideas and help avoid future commercial pitfalls.

7. There is feeling the BOD needs a Contracts Manager or someone with really strong Biotech negotiation skills to join the team. Would you consider this?

8. In addition to your pipeline page on the website can you add a website page with the milestones expected for each quarter going forwards so Investors have some visibility regarding what we may expect updates on?

Legacy Assets
9. As a general point we feel that you need to tighten up on milestone dates for progress and updating shareholders of same. Nothing worse for investors than being in the dark. Can you consider more regular updates?

10. 201
a) You decided to support a stateside start up SPV to take 201 forwards. Was this the only option? How is this business going to be structured? Is it going to be listed? What will the ownership structure of this business look like?

b) We understand that despite the service agreement being signed 1/11/21 the 10k per month payment has not been received. Are they likely to pay it? Why did you agree to do all the support work to date Free of Charge?

c) Can you confirm now EXACTLY how much TRx are raising? Can you be sure that on reaching future milestones they will pay you and we won’t be in a similar fund-raising debacle?

d) We appreciate that Due Diligence takes time, but you are granting yet a further extension, is there a point where you will have to say enough is enough and go back to square one and seek a new partner for 201. Will there be a point where exclusivity for TRx will be lost?

Look guys I genuinely want this business to succeed. There are mixed messages on this forum with multiple investor concerns. Lets do something about it?

I am going to propose that we put a list of questions to them for the AGM, no guarantees they will answer them all, there will be HARD questions but I’m more than happy to email Suzy and Kevin ahead of the AGM on Thursday and as the meeting will be recorded EVERY investor will see exactly what they have to say directly from the horses mouth.

I am happy to collate this, if you like this idea, I will start a Questions thread to add questions to and will add any questions anyone replies for submission or make changes as anyone requires.

Hopefully, the meeting will iron out any concerns going forward and will strengthen SH support and we can move forward rather than speculation.

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