Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
I'm not an expert, I'm science or corporate finance but quite a few here, including me were asking why were weren't fundraising back in the £3 range. We could've raised £10 million for not much more dilution than what the RF facility is costing us. It's not hindsight. It was stated on here quite a few times. I don't want to see any of the board go, not at this stage but if Parker is going to get us a deal then he is also responsible if we don't.
Posters a put a lot of focus on the positives of the science here but then project the positives onto the fundraising and deal making. If the science is good, it will still be good whether it's Sareum taking it forward or a n other because Sareum couldn't afford to progress it.
What do I want Parker and the board to do? Well, to use Parkers own words "to not trip over the same rock twice". Failing to make hay while the sun shines feels like a pretty big rock that the lth have seen before. If 1b data is only Luke warm, we are done for.
Parrot, in 20 years of AIM trading, I have watched some good companies with promising products get mismanaged into obscurity. Yes, I believe we could get a 2 billion valuation if, IF, everything goes to plan. However, IMO, financially, we are stood on a cliff edge with no negotiating power. The pharmas can afford to sit this out until someone blinks, but is is worrying, that the board let us get to the position where the RF facility was the best option. What was the worst? Stood outside St Pancras with a bucket? I've placed my bet on the slowest coin flip in history.
I first bought into sar about a week before the mice RNS. I'd had a mare with oxb and sar was my first dipping my toes into biotech after that. Pure coincidence that it spiked a week later. I couldn't get out at the highs, got out with a x2. 5 profit though. Sold the lot, then started buying again when the were 0.3p. Sold the lot again when we spiked to 1.06p. Started buying again at 0.6, think it was after a placing. Ive held at least a million (old money) ever since. More than 50k now and still buying with spending money.
Weird to think that, after all this time and progress. We could be dropping back below a penny in old money.
Honestly, Baton. I've had fun today. Not venting my spleen. I have this morbid fascination to see how low the sp needs to go before the tide turns. The suspense is killing me. I have this image of Ahfam kicking and screaming whilst being dragged out of the Pampisford office whilst they take the Sareum sign down. Pages of cut and paste information clutched in his hands, screaming it's the month of the rerate.
The compounds have the potential to be worth billions. They could also be worth zero. The company could also be mismanaged into obscurity. Which scenario would you like to concentrate on? I know what I'm more worried about. The SP more or less dropped 50% since the RF facility came in and this latest tranche will more than likely see us drop another 10 to 20% and the next tranche in Feb 24 will do the same. With no news between now and Feb 24, where do you think the sp will be? And can you honestly defend the boards performance when measured against shareholder value?
I have never said I told you so, never will. I'm your typical on the spectrum analytical mind, probably ADHD too. I have to look at both sides and the ADHD bit makes me impulsive. I'm still buying SAR stock but at least I know it's pure gambling until we get some tangible news.
RF haven't started selling the new tranche yet. Unfortunately, the sp will fall until all shares are sold. There is another pre agreed tranche to drawdown in Feb 24 and with no news, even the most ardent die hard sareum LTH probably be underwater. Like I said yesterday, it OK to be bullish on the science and potential but the board are delivering shareholder value and let's face it, they're not. Let's see how sentiment changes when the very LTH can't say they are in profit anymore.
Hi Laz, yes the board has been good the last few days. Less name calling and sniping at each other. We do have enough collective voting rights. Thoth proved this a few years ago when he organised a list of PI's and their holding size. You only need 10% of the voting rights to call an EGM. That's 7 million shares, its a lot but doable as a group. I don't want to hinder the board in any way but they should know that we could if we wanted too. Same with resolutions at the AGM. Personally, I don't think the board should have carte blanch over the use of RF after the already planned February 24 giveaway. Not without looking at other avenues of funding first. We should keep them on their toes.
Good answer, Brighty. I'm the same as you. I'm bullish when it comes to the science and potential but that doesn't mean I can't be critical of how the company is run and how we got to the point where the RF facility was the best option. People say I have an agenda, I do, I'd rather not lose my investment through naivety and bad planning. I can't make the AGM, but the board need to know we are watching them and as a block of investors, we have the collective numbers to make changes if needed.
Parker is an experienced player in this field but with Sareum, he only has what he has and with 737, he doesn't have much. I dont like to critise anyone on the board mainly because we've got the best board we can afford right now. My critism of Parker is that he seems to pay lip service to the shareholders. The form an orderly queue remark was just that. An off the cuff remark that the shareholders will see as positive but it doesn't mean anything. I remember him tweeting about the opera last year and some here were implying that the fat lady was about to sing and it was his code to let us know.
The real news is in the RNS's, end of.
Just to add to my post. The absolute unicorn deal, notwithstanding a buyout, of course, would be a great deal on 737. A deal with enough upfront and near term milestones that could put 1801 and 2 through to phase 2 would keep the buyout dreams alive.
Personally, I think 3 years is more likely, Warthog. I think there area few things to consider and we have to assume there are zero setbacks but we won't dwell on that.
License\deals - IMO, once we get a license for 1801, that will put all dreams of a takeover to rest. It will likely signal that 1802 will be licensed too, possibly to the same pharma. At this point Sareum will be a bona fide clinical-stage pharma and shareholders will have to wait for the trials to progress.
Trials - If everything goes to plan, 1801 P1b will start in 2024 which means we may not get a readout until 2025 which would put the end of P2 into 2026, maybe even 2027 for the data readout. 5 years or a clinical in human trials would be rapid by any pharma standard. But let's just dream it could happen, we would be talking 2028/29 for market approval. Forget all the I've been here 10 years rubbish, the real test started this year, 2023! and if you managed to buy in at this low rate. You saved yourself 10 years of having to come here everyday ha ha.
The good news is, once we get a license and again, assume everything goes to plan. The market cap will rise with every milestone reached. We should be nearing a billion valuation by the time 1801 is in P2, 2 billion if the trial goes well and there is an indication that it will progress into P3.
The last thing to consider is a buyout. I still think we could get a buyout offer but the window of opportunity shrinks as we get nearer a licence deal. I also think there may be an option to sell our share of 737 to make things neater.
I still think that 737 was meant to pay for 1801 and 02. IMO that's how we got the HNWI, it's why the board were not issuing speeding tickets when we almost 10 bagged, they knew something and for whatever reason. It didn't happen. I guess we will never find out but IMO, 747 was going to be the catalyst to drive Sareum to new highs. I also think that 737 may be an intrinsic part of ongoing discussions with potential partners.
As for no delays to 1801. Not to be negative, but it will be the first time ever, if there aren't any delays. I'm not too worried as I think we will have a licence by the time any delay rears it's head.
Ahfam, that's my point. To say it was the only option isn't a good thing. A company with a compound in clinical trials and the only option for funding was a dilutative placing with me limits on how low the sp can go to plus it being weighted in favour of those loaning the cash so much do that they can't lose, no matter how low they drive the sp down? Does that not raise a red flag for you? I'm not annoyed they took the facility, the company has to survive. I'm annoyed that the so called experienced board let themselves get into a situation where the lender holds all the cards and the investors can't do a thing about it.
Yes, It would be nice if we could get a running commentary on the facility. Just how much of the initial 2 million have they managed to claw back? 20k shares sold a day is 20 weeks. IMO, I dont think they have got rid of the first lot yet, and they certainly haven't recouped their cash. If it carries on as it has done. We could be diluted by 5% or more by the time they get their cash back. It goes against all my instincts but the only way to beat that dillution is to buy more shares but that's a stupid idea.
Nope, Carter. It's just some days you agree with what I say and some days you dont. I believe that one day, if all goes well, sareum could have a 2 billion valuation but I also know, as does SOG, and other esteemed posters here know, the probability of sareum getting that far are slim. This isn't negativity, it's drawn from years worth of companies trying and failing to bring a new drugs to matket. The other knowledgeable posters here have a plan, just as I do but for that plan to work, you need others to believe in the first part, the dreamers with faith in the company. Cynical, yes but that's how the markets work. For every winner selling at an all time high. There is some shmuck who just bought at an all time high.