Member Info for potnak

Hot, I'm in the middle of a house refurb. Using lots of different trades. It's a nightmare. I spoke to a plasterer working across the road just last week. He did me a bit of patching on my new wood burner install. Anyway, I told him my kitchen and dining room is next and he's booked up until September, said he couldn't keep up with will all the enquiries. If anyone has got kids about to leave school, tell them to learn a trade.

HBD, dont ask me why because I couldn't tell you. But for a long time, it's my belief that 737 has been front centre of all strategic and financial planning for Sareum and for whatever reason that has at panned out and I don't think our board had a plan B. A decent upfront or milestone payment from 737 would be the catalyst for much bigger things for Sareum. The upfront ship has sailed so we wait on a milestone payment and what ever plan B is.

Carter, I dont follow anyone. I would check and validate what they were saying. Just for my own benefit. I said at the time that 737 stopped me selling as I believed a deal was incoming. It turned out the deal, that came, litterally fix nothing to stop the fall but by then we were near 1a completion do we wait again for something to stop the fall. I hope 1a data is good enough for a deal but I'm expecting we will have to wait until 1b and we are in for a tough year.

I guess, what I'm saying is the blame is always directed elsewhere, greed Mm's, peel hunt wanting a low price for ph clients, peel hunt shorting blah blah blah. We hardly ever look internal. Maybe the data so far is just a bit meh. 737 mono, is. Maybe we haven't got the best deal makers employed.

I will stand by my prediction of a 2 billion valuation on hood P2 data and I'm positive of a rerate but I'm less positive they the board can pull of a deal for us to get there.

Laz, IMO, we have a plan set out in the RNS from last year. That plan is to complete 1801 1b in 2024. I can't see how we can critise the board if that plan is still in play. If they miss the deadline, then we need to make changes.

Yes, healthy debate, that all we want here. But what SOG has done, is provided a link that backs up his and others beliefs that the board have been hamstrung in some way.

You seem to think me bring sceptical about stuff has some sort of affect on the share price so needs to be challenged, same with Puma, warthog and loads of others than can see the potential but get frustrated. As Damion pointed out "sharing data with prospective partners" has been a staple statement in the RNS for at least 10 years. So they are either lying or the data, up to now hasn't been good enough to get a deal of some sort. Problem is, when you see that statement in an RNS, as an investor, you think, ooo, I'd better hold onto these shares. Then 10 years later, here we are. Still at least 5 years from market.

Hot, I don't think we should get rid of Parker. However, If they don't complete 1b or deliver some shareholder value by way of a licence in 2024, then we should call an EGM early 2025.

The "we need data" mantra, is the last thing that the cheerleaders are hanging on to. It's true, of course but I suspect they will go straight to the anger stage of grief if the "data" doesn't give us immediate shareholder value. Again, for clarity, I'm not expecting it to. I'm expecting it to get quite a bit worse before it gets better.

For clarity, I'm still bullish here, still buying for now. I just dont get why some are adamant that the board did everything they could to stop us being where find ourselves.

Damion. It can be fun but also humbling to read the old RNS and remember back to that time. Somrtimes I feel downright ripped off too.

Here is scary thought. If there had been no delays and deadlines missed from 2017, we'd be at the end of 1801 phase 2 now.

Hot, in defence of the board they have a significant share in 737, two tyk2 compounds, with one, hopefully about to pass safety and a collection of other patents and compounds. I haven't worked it out recently, but they have mannaged to do all this work for around £20 million. Of they were to get a deal/deals which saw us 10 bag, 20 bag. It would almost be unheard of in the bio world. That has to be comendable.

Carter, regardless of Pumas agenda. When he arrived on this board, It took me 5 minutes to check and verify what he was saying, he even gave us the ticker so we could go and check the share graph of said companies that had taken similar funding with RF. 5 minutes! But others here used that 5 minutes to go on the defensive, some went as far as using derogatory language. Others, with no reaserch and with confidence started saying this facility was different to other RF deals made (it isn't). I mean, that is just plain making it up. And these, were the so called good guys on the board. I've been saying for a couple of months that there will be a breaking point for all here. I just wonder how low it has to go before people stop doubling down.

For clarity, I don't think we should be talking of board changes until p1b completes. If done done on time. Then the board have done their job as per the RNS. That is, litterally, all I want from companies I invest in.

Hot, I had the same thoughts about Sierra and 737.

Gunner, if we are in talks with potential partners. It's Parker who is doing the the talking. We always blame the board but maybe the compounds arent what we a believe them to be. Maybe they are just average at best. I certainly believe that of 737. I'm not saying there isn't value, I'm saying we might have to prove it every step of the way.

I've been holder of SAR on and off since before the 10 out of 10 mice days. I say on and off because I sold up completely a couple of times, in that time, both with relative good profits. I've always traded the big spikes, never my whole pot but usually around 10% and because of that, my Sareum own me nothing. I've seen the price as low as 0.18p (9p) and as high as 9p. In the last 5 years. My pot has been between 45k and 60k shares (in today's shares) and the value of the pot has been between £7k and £250k!

I've been vocal of my frustrations with the board and I can't help but be triggered by those here that will not hear anything negative said. It's like a weird Stockholm syndrome effect or something.

Anyway, we have the best board we can afford right now, it would be self harm to change that at this, stage. We are near a news drop that could make or break us. And as always, at least since 2018, we are 2 to 3 years away from the big bucks.

Just guessing really. Giving them the benefit of the doubt. As I see it. An RNS at the end of 2024, stating P1b is complete would satisfy the deadline met. Thats why I think we will get 2 RNS for 1a. One in a few weeks to state it has finished. The other once data has been reviewed and they are spinning up trials and recruitment for 1b. If I were Parker and wanted to start building momentum, that's what I'd do.

Warthog, if they are to meet the current deadlines and 1b is similar in structure to 1a, then in order to complete 1b in 2024, they would need to start dosing in May or June at the latest. Data readout around March\April 2025. We are entering a phase where we could hear something in the next few weeks.

Good 1a data will stabilize the SP. A safe and well-tolerated compound would be a steal at this price or indeed anything under a pound. In the meantime, I wouldn't rule out a fall into the 30's or even 20's until we get the news. I'd say 4 to 8 weeks. Might be sooner but I think Damion's assessment sounds good. I also wouldn't rule out 2 RNS. 1 to say the trial is finished and that data will be reviewed, the other when the data is published.

All we can really say, is if they did sell, they lost a lot of money. I seem to recall someone here who went to the AGM, meeting one of them? We have a good idea who they were because some of us have saw a bloomberg screen with their names on.

I still stand by my prediction of a 2 billion valuation at the end of p2. This is based on 737 still in trials, 1801 successfully completing P2 and 1802 in phase 1. However, we will need some serious investment to fund the trial, development and day to day running of the business. The current state of the markets will reduce the Boards options. For 1801, Personally, I think they will go for a licence and it will be low upfront with large backend milestones with an option to take 1802 if it passes phase 1. This scenario might delay that 2 billion valuation until phase 3 is well underway. In the meantime, whilst we wait, I think SAR will licence a compound from another bio with a view to taking into phase 1 and 2. Just like Sierra did with Momelotinib. It might not be what we want but once 1801 is licenced, then our path to market is set.

Buyout valuations will be much lower until phase 2 is done. Ahfam had a list of deals made but was always a bit vague about where the company was in terms of development. When you looked at them, the big ones were nearly always phase two assets.

We talk about the science all the time here but very rarely talk about valuations of phase 1 assets. There are past deals we can compare against but it would need the corporate finance guys here to give some opinions.

I meant 1b to be completed.

I think in the short term, SAR will not be affected by their exposure to RF as we should already have enough cash to complete P1b but come the end of 2024 when P1a is due to be completed if there is no licence then we will find it extremely hard to raise further cash. It could be a blessing in disguise though. If they can't meet contractual agreements, that would probably mean we could get out of the contract early.

An opposite view, would be. If you had the upmost confidence in Sareum, you should probably buy RF shares too. If we 10 bag from here, so does RF's holding in SAR. They probably hold enough, with the warrants to make a profit bigger than their current market cap.