Member Info for potnak

I think i always had the timescales right, I always thought and stated here 2021/22 for major deals and if you discount the delays we had that were anything between 18 and 24 months. Then we are about where we should be in terms of development. I don't know what "let science do the talking" even means. Science can talk as much as it wants but lately we've been using other companies science to validate our own. It all means nothing if we can't secure a deal. I said the other week. Not every failed AIM company has a failed product.

Hi Laz. Just stating that what Puma is saying about the share overhang is correct. SF will continue to sell until all the shares are sold and if they don't recoup the cost of the investment they made, we will give them some more shares to sell until they do.

As for enthusiasm. I still believe Sareum could have a valuation of £2 billion at the end of P2, IF, IF they can get there. However, I am no longer confident they can and that isn't down to the science. It is cult-like behavior to just keep telling yourselves that everything is going to be ok. As an exercise in weaning yourself off the teet of SAR. Go back to say 2018, read the posts, read the daily grind of posters' comments\predictions and then realize that 2018 was 5 years ago! I do it regularly, otherwise, how do you learn to better invest if you don't learn from your past actions? I cringe at some of my older posts but at the time I fully believed the hype. I'll take actions over hype now.

Celtic, i'm neither optimistic nor pessimistic. I've been here a long time and I just don't have the emotional connection to Sareum that I once did. It's the rampers here that are inconsistent. Quite a few here said £2 upon progress to part 2. That isn't going to happen, especially with an approx 2 million share overhang. The grim truth is, even though we got good news this morning, we will probably finish red today and keep drifting down until those 2 million shares are sold. This board is mostly rampers and believers, some science and a few who would like to see the shares drop but there is a silent majority, that are quite a bit underwater. They keep quiet, presumably because they don't want to be shouted down and sworn at.

Some of the LTH were millionaires (with SAR stock) back in July 2021, they aren't anymore. If they are happy with the BOD's performance and management of the shareholder value, then fair enough, crack on. It's obvious that recent decisions have been made in desperation and that doesn't give me a sense of confidence that the board is capable of driving SAR to where we all know the potential could be. I'll hold out of sheer stubborness but I am not happy and I'm at a loss as to why other LTH are happy to be appologists for the BOD.

Laz, not sure if you think I'm trading but all the trades I made recently have been buys. Trying to shutdown the debate with, "they've got an agenda" isn't debating.

Getting approval for trials - good news

Starting trials - good news

Getting funding for trials - good news

Expectation of trials progressing - good news

The SP was lower after the news of first 3 of the above. The SP and market cap should be being managed up, not down and only the board can do that. Don't answer with "what can they do" I'm not a ceo, how would I know but they a running a company worth over £60 million. You'd think they would have some skills in that area.

Most LTM holders of AIM stocks are only long term holders because they get locked in. Either by a loss or the belief that the jam tomorrow will come true.

I sorry to admit it but Puma is right. This the news that some here said would take us to £2. It is eerily quiet in here this morning but I'm sure they will be along shortly to tell us that the next big if news will be great.

Im OK with today's news, it is as I expected. Im OK with the notion that's it's OK if the SP falls on good news. That's not right.

Yes, RNS is as expected but I don't agree with the SP doesn't matter mantra. If the SP falls and RF keep selling, we will have to give them more shares which means more dilution that all the other shareholders just have to take. Prior to the RF funding RNS 2 weeks ago, this RNS, if released the would have spiked the SP. Today, we'll be lucky if we see 5%. How many new investors would buy in knowing that in the short term, they will lose and be diluted? Good RNS as in, it's progress but not what some here thought would happen. And it's a bit quiet in here from the cheerleaders.

I learned a few years ago that our bod play to the audience. Not misleading, just letting you believe what you believe. Sareum are not the unpolished diamond I once thought they were. However, I still believe that Sareum could be valued at £2 billion if they can get 1801 to the end of phase 2 without any setbacks. Personally, I don't know if I have got stoicism to ride the rollercoaster to that point.

The crucial point is, it's just a financial link. Sareum won't be doing anything with 737 other than receiving 27.5% of anything it generates either by a buyout or on licence. That can be written easily into any contract.

Personally, I believe the science is good and there is potential but as I said below, it needs proving which means investment and the right partner. none of that is in our control but if 737 was anything like what some here have indicated, it would have been snapped up when Sierra had it. IMO, there is a place for 737 on the shelf right next to Aurora/flt3. Not failed, just, to be looked at.

Just playing devil's advocate here but is there a precident, with any other pharma trials where they notified the market of dose escalations? If not, why would we expect it here? We didn't see any news from CPF 737 trial. We just got a licensing deal out of the blue. Probably once tox and dosing were showing as tollarable.

IMO the board have ruled out any immediate deals for 737. That's why we have gone for other financing. 737 could be a cash cow but it could also be a money pit to prove it. Sierra knew this and try as they might, they couldn't secure the type of funding or partner to push it forward. Our board have no control of what happens with 737 so they need to concentrate on 1801. Let's get to 1b and then we can start talking about deals.

SOG is the man to answer this in detail but if 1801 can treat psoriasis successfully, there is no reason it can't treat other autoimmune illnesses. I mean, if you suffered with psoriasis and RA, double whammy. Seems a strange thing to tweet though.

Hi AndyMK. I just meant, whilst RF can't lose on their investment. We the actual investors certainly can. The Boards priority, in the short term at least will be to keep the SP high enough to protect the SP just in case RF decide to start selling. Posters are still having a go at MAJ even though what he and others stated about the RNS is true. They could as stated sell 20k shares a day under radar for the next 10 weeks. And if the sp fell below what they paid, we would give them more shares as compensation. Meanwhile our own holdings reduce in value and are diluted at the same time. I just hope Tim and Parker have a plan.

That's rubbish HBD. Yes, I do trade, never more than 10% of the pot, and mostly it's less than 5%. I don't think I'm knowledgeable or influential enough to sway any readers of this group. I've been here as long as Ahfam and the others and like a few here, am on a free ride. I used a Sareum cheerleader too. I didn't join Thoths mini-revolt a few years back because I believed in the board and that we should back them. I argued for the consolidation and other dubious decisions that the board has made over the years. What I can't defend is what look to be bad decisions. We have no context as to why this type of financing was picked but it puts us one piece of negative news away from the death spiral. where the investor cannot lose.

The LTH here have helped build this company to the tune of around £20 million but we are now less important than an investor who has come in at the last minute with just £2 million, worse still, we just have to accept this new swing of power with threats that 1801 progress could stop if we block further drawdowns. I mean the arrogance of that statement should be enough for the LTH to get a little annoyed?

I know I keep citing VAL but that has all the hallmarks of doing a VAL. I remember a long time ago when Thoth posted something about VAL. Saying they were going to screw the LTH's. I didn't buy in and as it turns out. He was right. The LTH got royally shafted over there and now need the SP x100s just to break even.

To sum up. I'm happy we are funded to Q4 24 and am holding but I'm unhappy that the actual investors here are now lower down the pecking order when it comes to shareholder value. Time will tell what happens next but as I said earlier, I'm expecting a very bumpy ride and predict some vitriol being aimed at the board if it goes against us. Oh and yes, I will sell some shares on the next decent spike. it's the only money I make from Sareum. I'm at a loss why others don't trade too.

No cash to do it, Ahfam. That's the big problem here. Potential licensees can afford to wait while Sareum carries all the risk with the added benefit they might get it all on the cheap in a firesale. Not every failed AIM company has a failed product.

I bought a few yesterday too. Only 500 but got them under 90p so...

This financing feels like a really risky play and IMO it was done in haste to plug a hole somewhere. The explanation i'm going for personally is the negotiations for 1801 license aren't going as the board would like and 737 is effectively shelved until CPF says it isn't, so the board have said we will fund P1 a and b through to completion ourselves. If successful, and we have low toxicity and an immune response, the price to license will jump dramatically.

We all suspect that 1802 is the biggie here but I reckon we are at least 2 years from that hitting the clinic and I'm basing the presumption on how long it took to complete 1801 preclinical studies. I think\hope that the board will use the 1801 data package to validate 1802 toxicity and efficacy and they will try to license both at the same time.

Here is the bearish bit though. I believe we are in for a bit of a roller coaster ride and Parker's tenancy may get challenged. The next update will have to be very polished or present some shareholder value or he will have to go. How does the old saying go? Fool me once, shame on you. Fool me twice, shame on me. I feel like we have been fooled more than a few times now. Progress or fail fast. Don't let SAR by a 1000 cuts from RF's knife.

Fully agree with Andy's post. Just be aware that most of the bashing posts over the last few years have had some truth to them regardless of the agenda they were delivered under. Also, in that same period, not one rampy prediction has been correct yet. The bashers are winning this game, mainly because most here don't understand how long the game is.

I've literally just said below. I'm holding.

Yes, I agree Laz, but no one is countering the argument with reason. It doesn't matter what his agenda is, there is still truth in his posts. If the trials are good and data is good, then it will be fine, and if not good enough to generate value for the shareholders then maybe failing fast is the better option. I've no intention on waiting around on anther VAL

Don't let the board off, Sixth. They are the ones who made the deal. They need to explain of generate value so RF's shares are worth more than they paid for them or it "could" be a death spiral. Does anyone remember the scene in Goodfellows, when they invest in the restaurant? No excuses "f**k you, pay me" https://youtu.be/02ZgA3sKClI

No. Mainly because. Just because the risk has increased, it doesn't mean that it WILL happen. You have just given an example of the problem we have on this board. You have a view and you cannot acknowledge that it may be wrong. Proving science is easy, it's all there because it is science. Countering MAJ's argument is much harder because I suspect there aren't many success stories from this type of financing. However, there must be some or Tim and the board wouldn't have gone for it. But let's be clear. If the SP falls and RiverFort panics, then were are probably no more than 12 to 18 months away from folding. That's a reality here. Acknowledge that then hold or sell. That's what I've done and it is a hold from me.