Member Info for potnak

So RF must use the warrants to settle debt, if they don't fully settle, Sareum settle the outstanding balance on or before the maturity date? If this is the case, then RF need the SP to rise the sell the warrants before the maturity date. This way, they will make more profit.

I think we can assume they will keep asking for shares until the debt is paid. Then they will buy the warrants at 10p, wait for the sp to recover and the sale of those will be the profit.

Unfortunately, we don't make the decisions. All I really want is some plain English clarity on the Situation. How much do we owe them? How and when do we intend to settle the debt?

As of March 26th the balance was still £1.1m owed. Which we will give the shares to cover. RF looked to have sold heavily in the last week, maybe the whole lot of shares we have them but that would still mean we own them £1m. My question is can we wait until the sp is higher, if not, that's upto 10 million extra shares on top of the last dilution, they will flood the market with these shares and that will suppress the price until they are gone. Or do we pay them off with the extra £800k raised from the wrap?

Yep, the terms state that the warrants are reduced online with the placing price. Is it exactly 10p, maths prof. I could find the detail this morning.

Probably and yes.

Unless we get a change of broker RNS, we have to assume the PH are still Sareum's joint broker. Fro all we know, they might be brokering the deal we all want. That is literally what they do.

RF will be around until the finance facility is paid off. Question is, in terms of dillution. Is it better to settle the facility with cash or more dillution via warrants. The extra £800k raised via the extended wrap cost us 9 million in extra shares into the pot. RF would have to pay for the warrants at the reduced warrant price which, I have to admit, I can't find. With my very limited accounting skill. I think it's better to settle now because we've already taken the 9 million share hit and the cash is extra to the original wrap terms. Otherwise, assuming all goes well, there will be a final dillution before the Aug 2025 end date and and depending on the warrant price, this will be in the millions of shares. If we do get a deal with a decent upfront, I'm in agreement with others here, the board should issue a share buyback. Everyone who bought low would make some profit and there would be less shares in issue. Win win.

Hybridan will have a lust of clients on their book. The placing offer will be offered to those clients at the fixed 10p a share, Hybridan will take a small fee for brokering the transaction. Some clifnrs may be HNWI, some may be small institutions, some could be share clubs etc.. But essentially most of the shares will have been allocated already, probably to retail investors.

They would go bust, simple as that. All I'm saying is look at the sar board before blaming every other player in this game. You've paid extra on top of a 90% loss in value to buy more shares and the extra shares have reduced potential future value of your shares by 30%. I'm not saying it's wrong, I just don't think it's something to celibrate. I have no emotional connection to SAR and that allows me to see all sides of the story. And if that means acknowledging that, statistically, sar only have a 10% chance of getting to market, that I will acknowledge that. If i had taken Puma advice last Aug and sold but waited. I could've bought close to a million shares in the wrap. Should the price ever reach £10. I would have built the statue myself, in that scenario.

They will be offered to anyone who wants to buy. The big RF sells last week was probably because they knew that they will struggle to sell after the shares enter the market tomorrow. hybridan might have some clients in ready to buy but IMO, they will go on the open market. And as I said 24 million share will take a few days or weeks to clear.

I don't know what you are asking, SOG. I have broken one of the all time golden rules. Never add to a losing position. I been adding since last Aug too. I sometimes think people here just want to argue. The fact is the new 24 million shares have diluted the whole pot by more than 30%. It doesn't matter that you bought more, it doesn't matter that the RF facility drove the price down or Peel Hunt or MHRA or Mm's, shorters and womble. What matters is the board are in control of this company, they make the decisions and the buck stops with them. Take the emotional connection out of the equation and you will see things differently. It is the last chance for the board to make good or the next placing will be 2p and we'll have 200 million shares in issue. Just look at VAL for an example of how this can play out.

The board are probably laughing this board as they didn't start the rumour. If it isn't true, they don't have to clarify anything. If there is a change if broker then we'll get an RNS.

A £1 billion TO offer on todays shares in issue would be £14 per share, tomorrow it would in theory, be £10. I've averaged down to cover the dillution but for those that haven't and I bet there are quite a few, the overall higher number of shares means less return in the long run. IMO, a 30% dillution is taking the pizz and this should never happen happen again. Last chance for the board, no coming back for more.

I've got a feeling they will mostly go to traders looking for a quick buck and once the dust settles I think they will double their money or more in a short period.

I think it's the biggest dillution sar ever did? Good that it allows us all to move forward but any deals from tomorrow, in terms of returns to the shareholders are essentially 30% less than they would be today.

I still think 2a means with a partner and the partner will decide where the trial is run. And by partner, not nessesarily a phama but something like ICR is to cancer, we'd partner with the equivalent org but for immunotherapy. The line in the Edison reports stating none dillutative partnership. Seems to back this up. Keeps the TO dream alive too.

I just mean, if I had to do it, it would technically mean I was earning more so take home would be more. Even when contracting and on some good rates, I always took the hit and with an umbrella company. It meant paying more in tax than I could have but other than sending a time sheet once a week. I didn't have to do anything. I also used to take time off between contracts so the annual tax figure stayed the same. I should be richer than I am but as long as I've got enough, it's enough. Time is more valuable. I was SC clears a few years back. Not sure which one. Had to supply details of parents and family dob, ni number etc. Had full access to patient NHS data at the time so it was a requirement of the role.

I guess I'm lucky in a way, I get a decent salary but have always tracked a a couple of 1000 less than the higher tax rate. My big savings are pensions, isa and premium bonds so I've no need to do my own tax returns. Having said that, I guess it woukd be a nice problem to have if I did have to keep the taxman happy.

Bitcoin is relatively easy. You get yourself a wallet software and a hardware. Then pick an exchange where you buy and sell. Always use you own wallet to store them. I am more than 100% up with my bitcoin but I've never made enough profit to trouble the taxman. And yes, quite a few analysts are predicting more turmoil and suggesting going long on Gold and property, especially true for the UK with a change in government looming.

Too ambiguous for me. AIM needs cleaning up but shorting does serve a purpose, it keeps a flow of cash moving in the markets. Like it or not, it keeps the punters here. Specifically, for AIM, I'd like to see regulation such as no shorting startups, less than 3 years in business. No shorting under a certain market cap, that sirt of thing. Companies float in AIM for one thing and that's cash. If the cash dries up, the companies on AIM go bust. Shorting, spreadbettng and all the other mechanisms for relieving retail punters of cash keeps the money flowing. The trick is to play the game, not ban it. I don't short by the way. Never have.

If our mystery biotech is Boundless then Sareum's share of the 500k shares would be 137500 x 16$ or 2.1 million dollars. Not bad.