Member Info for potnak

Yes, Basser. I think we are closer to a deal than we ever have been but we are also closer to running out of cash and ways of funding than we ever have been.

This board is too air views, positive or negative and I welcome that. I hardly ever block but if you don't like the negative views block them. if you dont block them, at least try to see why they are negative. Since 2021, the negative posters have been 100% correct, the positive, not so much, if at all. Does that not make you think, 🤔.

Imagine this scenario, Carter. It's early 2024, trials look good and Parker is sat across the desk with representatives from Phama X. He's states we want £10 million up front and a billion in milestones. Phama x, shuffle the papers in front of them and say, well as you are are listed company, and we looked at you financial report. It says, here that you only have enough cash left until the end of this year. Are you really on a position to dictate the deal size? We can wait until you are desperate then make you an offer.

It's like having a Royal flush in poker but not having enough cash to stay in the game.

You stay in the now, Carter. Perfectly acceptable. Said it many times. Not all failed AIM companies had a bad product. Some were badly managed into obscurity. And for the altruistic amongst us. Don't worry about the science, if it is good, if will still be good if sareum have to have a firesale. We just won't benefit from it. The science is important but not as important as securing funding after 2024 if not before then. Next summer is the deadline IMO. Squeaky bum time if we get into spring with no news.

After all this time. I'd be disappointed with anything less than £10. £10 is achievable with good 1b data, a licence and a 737 movement. However, in the interest of balance. We are, financially speaking, in a precarious position. I think 737 was plan A, plan B was maybe a placing and the RF facility is plan C. We have enough cash in the back and avaliable to draw down to see us to the end of 1b but what if the licence doesnt come in time? I hope plan D addresses all this.

Silver, yes, that used to be a thing for the semi retired city folk. A good way to keep in contact and keep your ear to the ground with what's happening in the investment world. Buy the minimum amount of shares needed to qualify, then turn up forcfree refreshments. Not sure if it still happens.

Oof, thats another big number, Billy! I think RF are probably waiting to see if the run up to the AGM brings any thing in. I've been buying small traches since the RF news was announce. 5k shares in total. I know this will confuse those who think you should only have one view but my answer to that is 737. I now have 55k shares and these new 5000 shares are my trading pot that I will sell on a spike and 737 could be the next big spike. If not the p1b data readout should see us spike.

Read your other posts. Look like you aquired your holding the old fashioned way of buying in traches. Still HNWI levels of shares though. I wonder how many other big holders are our there. Good luck to all of us.

300k shares wouldn't be far off the equivalent number of share one of our HNWI was offered! You're not outing yourself, are you, shep? Where do you come from, not a Chocolate producing EU cousin of ours is it? 🤔

I'm thinking the same. 20k sells a day is 20 weeks to get rid of the first tranche. I know some days there were more than that but we are also assuming all big sells were RF. We're on week 17 or 18 too. I think they have some left plus the new ones.

If they have sold all 2 mil of the first tranche, they won't be anywhere near recouping their cash yet. Most of them were sold under 80p the 70p. They might wait for an AGM type boost and sell into that but IMO, this tranche they just been given will be offloaded before the Feb tranche is due. Then we'll need to give them some more to break even, then more to profit. It's weighted in their favour. I think we will be diluted by 5 million shares by the time the RF facility is settled. Hopefully, It will be worth it.

I'd never heard of RF until they got involved with Sareum but instead of shooting the messenger, I went off to see if the messenger was telling the truth. It turns out they were. 737 keeps me invested here and that's that.

I guess not all their finance is structured the way the Sareum agreement is.

I tell you one thing, the next time RF get involved with any company you are invested in. I bet you sell and wait to buy back cheaper. I know I will. Everyday is a school day.

"This might fail or it might be worth 2Billion!"

Thats the most accurate thing you've ever said, One!

Oh wait.....

MUST ONLY HAVE ONE VIEW. done in a Darlek voice.

My view,

Science = good

Boards ability to protect shareholder value = bad.

I don't come here for a hug. I come here to learn something that I dont know. I might even setup a Google alert for RF financing RNS's and short them. Seems like a dead cert.

Aber, I am resigned to the fact that it will get worse before it will get better. The RF facility is finance, pure and simple so RF won't know anymore than we do otherwise insider trading rules will have been broken. They may speculate and wait before selling but as the facility is weighted so they can't lose, they don't have to. I think they will start selling in the run up to the AGM and with another 300k tranche to drawdown in Feb 24. The facility will need be settled or we will have to give them more shares until it is. The above is why I feel triggered when some here start calling the likes of Puma a maj liars, they are not liars, it's all there in the RNS. You might not like it but our board thought this was our best option. 🙄. I'm bullish on the science and will keep buying in small tranches but I can't pretend the RF facility is good for Sareum, it's not. To potential partners, It will look like a crutch for a failing company to lean on and IMO, it weakens our negotiating power. I'm hoping that 737 news comes along and it oays for p2 do we can be rid of RF for good.

Yes, but all thing bring equal. Same p1b and same p2b data. If that data brings in an offer of 4 billion at p2b data. What is the risk adjusted discount to takeout at 1b. Is it 90,70, 60%? For ease of calculation A 90% discount would be 400 million x 2 (1801/2) plus whatever our share of 737 is worth. I think RMM once covered this in one of his posts.

Bring private will have added to the value here. No need to report finances, or shareholders that deals are on the table would massively help with negotiations. Unfortunately for Sareum, everything is there in the open. The other side can see our financial statement and could ride it out until the board and shareholders are desperate. I'm hoping 737 news comes and it massively strengthens our position. If enough up front to fund up to 2b then we'll get our buyout.

Yes, private company. Says in the article that one of the options for funding was an ipo but they decided not to and they placed shares with existing investors.

Question got the science bods here. If sar p1b is equal to or better than Nimbus p1b, is the probability the same for p2b? And if yes, a question for any MA accountants. Based on a 4 billion valuation at 2b, what would the risk adjusted value be for a 1b buyout? I think the likes of RMM and other could have a good go at this one.