Member Info for potnak

If the UK government was serious about supporting UK businesses and startups. They'd clean up AIM. No shorting, access to government unwritten short-term loans, better tax breaks and better protection for shareholders. The threat of prison for dodgy directors should sort that one.

Just waiting for the after-hours volume now. But it looks like RF could've offloaded another 200k or more, hopefully more.

Out of all the scenarios i played out in my head. I think the same. More meat on the bones and details of the steps taken so far. Hopefully finishing with, we have enough funds to get to 1a data readout.

Yes, and for all their Bravdo. I can't any of our new posters leaving a short open overnight. The chances of a 7am RNS is high.

And I know I had a go at Parker this morning saying he was a wheeler dealer. Having said that I do hope he's had his best Del Boy outfit on these last two weeks, cruising around the City in his Reliant Robin trying to get his mates to stump up a couple of ponies.

All we need to worry about is securing enough funding to progress to p1a data readout. Hopefully the board can secure funding that offers the least amount of dilution as possible but I think we'll have to accept some level of dilution.

If this deal was on the table. We the shareholders have to approve it or it goes nowhere.

To add to my list. and i'm not an expert here, not even an amateur but say we take the lowest deal on the list circa 4 billion for a stage 2 asset. And a pharma only gives us a 10% chance of getting to market. Then even with a 90% discount. We're still looking at £400 million. The thing is if phase 1b is a success and shows a good immune response. The discount on good p1b data is considerably smaller. If we can't raise funds on the back of that sort of potential, we may as well just call it a day. This why some lth are still buying because if the board pull it off. It will be a legendary return from these levels.

Not my list, can't remember who posted it but these are the size of deals we can expect if we get to phase 2 or 3.

Pfizer and Seagen. Deal size $43 Billion

2. Bristol Myers Squibb and Karuna Therapeutics Deal size $14 Billion

3. Merck and Prometheus Biosciences Deal size $10.8 Billion

4. AbbVie and ImmunoGen Deal size $10.1 Billion

5. AbbVie and Cerevel Therapeutics $8.7 Billion

6. Biogen and Reata Pharmaceuticals Deal size $7.3 Billion

7. Roche and Telavant Deal size $7.1 Billion

8. Astellas and Iveric Bio Deal size £5.9 Billion

9. Bristol Myers Squibb and Mirati Therapeutics Deal size $4.8 Billion

10. Bristol Myers Squibb and RayzeBio Deal size $4.1 Billion

And, seriously, I'd rather lose the lot than sell for £1 or 2 or 3 for that matter. I'm in no real rush. Find the funding and carry onto the natural end for the science bit.

I have thought the same as Aber as I'm sure many of us have. The majority of shares are in private hands, something like 95%. The shareholders would have the final say on any offer. It's the only upside to Parker not getting any institutional investors on board. I would imagine that most here would hold out for fair value and big investors such as the HNWI would want to at least break even. Finance aside and a few presumptions could see the company worth £500 million with all compounds licenced and progressing through trials, up to £ 2 billion at the end of a successful P2 trial. These figures might seem like they are plucked from thin air but there have been plenty of deals made around that p2 area that would dwarf that £2 billion. The board know what fair value is. We have big investors in for £3.50 or more and they know what fair value is. The board's job is to get fair value for the shareholders. This situation isn't a science problem, it's a relatively small funding problem. Fix that and fair value comes into play.

1802 is the elephant in the room, SOG. We might have to give some of it away or take on a more backend-weighted licence but most pharma would want 1802 in their pipeline rather than someone else have it.

As dire as it feels, I wouldn't rule out any of those funding options.

I think Tim and John are honest guys and SAR are better at comms than most AIM boards but Parker is corporate finance, wheeling, dealing and sailing close to the wind. It's a dance that they all willingly participate in. Not only that, I think they enjoy it. The retail investors supply the fuel for this machine because somewhere along the line, someone has to pay. We can't all win. We don't know what happened between summer 2021 and today but maybe if they had been more truthful, it might not have been as painful as it has been. I'm still optimistic here but as I said. It is the final nail in the coffin for my AIM investing.

GF, It's why I'm done with AIM. I think it will be finished in a few years. It's all spin. Not necessarily fraudulent but they only tell you what they need to. Not Just SAR, but all of AIM. I've written enough RCA responses in my time to know when we're being fed what they want us to know and think. The balance due Aug 2025 line is just that. They put that in because they want us to know that now.

Another speculation. With all 1.5 million shares sold, we could well be under the £1million balance clause. Which, under the terms would open up RF to give us more cash. The amount would be based on no more than 10% of the market cap and the average 10\20 day trading clause. No option I would like but an option nevertheless.

If a placing is needed and the discount and dilution is big. We need a full explanation, for me, if we don't get a satisfactory explanation, this is the red line where an EGM is called.

Yes, SOG but has anyone added up the RF sales in terms of cash since this RNS. Could we go under the 1 million mark? Need an account that can see all trades for the last 2 weeks. I don't have one.

As far as i can see, this line hasn't been used until the last RNS. I think the terms are intentionally ambiguous and are being used interchangeably. IMO, there is no reason to put Aug 25 in there, other than spin.

What do you make of the below, MF? This says to me that balances don't need to be paid until Aug next year. I think this line is important.

As announced on 3 August 2023, the Company entered into an Equity Prepayment Facility with RiverFort (the "Facility"). The Company has drawn £2.3 million to date pursuant to the Facility from two prepayment deposits. The Company currently has an outstanding balance of circa £1.3 million under the Facility. Any balances pursuant to the Facility are not due for repayment until August 2025 (the "Maturity Date") and the Company expects to settle all balances by the issuance of Placing Shares prior to the Maturity Date.

I think it is important to point out here that, other than IR answering a question about shareholders contributing to a placing. The company hasn't mentioned a placement or any other type of funding. Also, they are not under any obligation to protect RF which would be illegal and insider trading. It is my belief that Sareum has asked RF to clear down their holding and we won't be giving them more shares until we have to, which is Aug 2025. This should clear the way for SP rises. Yes, there will be some who bought recently that might take profit, including me but essentially we will have to got rid of the ball and chain that is RF, at least until next year. I'm not expecting today to be pretty but the MMs could push the price up a little like they did yesterday. I will buy some more today in anticipation of getting a forward-looking statement with a clear plan to progress. As for what will that cost. I honestly don't know.