Member Info for potnak

I bought some this and last week and have been buying small amounts since RF came on board. I will hopefully chuck another £1k next week on payday. Worst-case scenario is I don't have any disposable income until next month. Bestcase is another 6000 shares in my pot.

There may not be a financing issue. If £300k is all they need for now, they could find that down the back of the sofa. Phama wants to see the data and as I understand it we are £300k ish short to get to showing them the data bit.

Just because of the upside, Mr Hood. The potential to 5 x from here in a very short period of time is just about living AIM dream as you can get. £1k will buy you approx 6000 shares. We don't even need good trial results to get back to a pound, just funding. Funding and Good P1 results and funding for 1b will see the SP heading back to £2. If you can risk your cash in a short for a few pence per point, I will risk my cash for a potential 5x. One of us will get burned.

Aber - I think this is one of those no news is good news things. At least I hope it is. and by good, I'm being generous, I mean "no news, is not necessarily bad news". The board will have to clarify the situation by the time the interim results are released because it will all be laid out for us. All finance details, warts and all. As HBD speculates, we may get notice of the trial completion and hopefully, a rapid plan to review and release the data. On the funding side of things. I read the RNS to mean that we needed the £300k drawdown to get to the data readout and with some belt-tightening, Deferred salaries, Office lease costs and other stuff, we might just get there. Directors buying might not be an option as I would think this is the very definition of a closed period. If next week's results RNS can show a funded path forward. I think the SP will rise a little. It's not ideal but it is what it is. Payday next week so I'll probably buy more.

LSE on mobile is terrible. I canceled my subscription a couple of years back, mostly because of how bad the site is. Can hardly see what I'm typing now because of ad's. I'm only here because the Sareum stalwarts are.

I think it's a flipping type deal. They will put the data package together, spruce it up and sell it on. The 500k shares in the company is insurance for this scenario. IMO, well never see milestones for 737. We'll get what ever 137500 shares in the company is valued at. Said it before, if 737 is good and has potential in combo. It's worth £600 to £800 million as it is. Maybe more if trials are spun up and in progress.

Yes, 100% this HBD. More than that, I think 737 has been plan A for years. Those that have been here from the start will remember that we were in talks with potential partners 10 years ago. That wasn't for 1801,02. It was for Aurora and 737.

Tim are John are not young enough to make anything like what they could do with their options. Even with a big salary. Same with Parker and NEDs. They will have seen a big chunk of their 'pension' disappear as we all have. I'm sure they want to claw that loss back, again, as we all do.

The AIM market is and has always been on the edge of legality and once they smell blood, everything is fair game. It's a game we all willingly play. The RF facility might have worked if news flow was constant but it wasn't and the board knew, again, as we all did that we would need to wait until spring for tangible news. It was the wrong finance deal at the wrong time. All that matters now is we have enough cash to release p1a data. The silence from the board is worrying but also could be good news. NDA etc.. I don't think we have long to wait.

RF won't be able to sell soon as no one will want to buy. The Mm's can't hold the shares on their books so we are fast approaching a line in the sand where it will be stalemate. I'd expect to see a massive spread soon.

IMO there will be two avenues of fundraising. A bridging loan to cover to data readout of 1a (I wouldn't rule out RF to supply the bridging loan). And if 1a data doesn't bring in a licence there will be a placing offered to shareholders and the market to see us to 1b data readout. The board could also go down the JV route for 1802, with a Pharma or CPF even, with a small amount of the upfront dedicated to 1801. We might have to give away some rights to either or both of the compounds. But it is what it is.

Well, I'm still buying in small amounts. Bought a few this morning. I will buy a few towards the end of the week and more next week on payday. I don't think there is anything sinister at play. The board at best were nieve at worst incompetent. Both John and Tim were once millionaires with their holdings, I would imagine they would like to get back there if they can. I always regretted not buying more in the 0.18p days. Well, look where we are and almost at a data readout for p1a.

It's a gamble, we all know that. £7 will need good toxicity and dosing results, funding through to end of phase 1 and maybe a bit of news on 737. All doable.

Robin hood. Massive risk but £7 a share give him/her a million profit. They might do more than most here have done in 10 years, in a few short months. No one chucks £37k away so I guess there is a level of confidence or even know something. 🤔

Well, to be fair. The SP isn't going to go up until we get clarity on the the state of the company finances. Its as simple as that. We might have to wait until the interim results are out for that.

For me, it isn't black or white. I agree with Billy, it would be madness to get rid of the board this close to results and maybe a licence. However, I believe they would have known this was coming for a while so if they just sat on their hands and hoped something would come along, then, they aren't the people to lead Sareum. I still believe that the board have been hoping for news from 737 to help them out for a few years now and they didn't have a plan B. Same with MHRA, it seems they waited too long to get an update rather than chase the delays. Or maybe they just sat and hoped again? It's an answer we'll never get so better the devil you know until we know otherwise.

The only thing going for us as shareholders is that the majority of shares are in private hands. If the private investors can be mobilised. The board would never get a bad deal through if we all voted against it.

Yeah, none, no difference and I've been wanting to say this but not wanting to make things worse but the Bod will have known this day was coming at the AGM as there was no way they were going to meet the criteria for the next drawdown so when people were saying at the AGM, they looked shocked when someone was having a go. Was it shock or was it a realisation there had been rumbled early? I'm hoping that discussions for new funding have been going on for a while now. If not and the board has been caught napping again, they really do need to go.

Damion. The wording of the RNS states "Any balances pursuant to the Facility are not due for repayment until August 2025 (the "Maturity Date")".

Yes, they could sell all the shares they have to claw back some but they will be nowhere near even breaking even and If Sareum go under, they can't give them any more shares. RF is up the same creek as we are. It is in their interest to see the SP goo the other way.

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.

Hi PCS. my post wasn't entirely clear. As I read it, I meant the silver lining is, for now, we are done with RF. We give them 1.5 million shares next week and settle the account with another placing and warrants in 2025. RF will know that these new 1.5 million shares might be the only chance to get their money back. And with £1.3 million still owed. they'd need a pound a share to turn a small profit. It's a curious business model that drives the value of the company down. No wonder RF are struggling too.

There is a silver lining here. The wording of the RNS is to the point, leaving no doubt that we are in a serious situation. It also talks of the £1.3 million still owed not needing to be settled until 2025. So this last tranche of 1.5 million shares is the last they will get until SAR are ready to give them more. If SAR goes under, then RF will be in the line of creditors with everyone else and with no assets, they will get nothing. RF will want to claw as much back as they can get so it no longer makes sense to sell at any price. They may as well wait until the sp recovers. We will see when the shares are added to the market. But for now, I think we need to eave the board to do what they need to do. Short term issues first.