Member Info for ProfessorZ

Good luck.

Hadn't clocked the enormity of the dilution (still not 100% but a bit better today thanks).

Undoubtedly cash in the bank is required for an investment company (which we are apparently), so in one sense I don't have a problem with it provided it is used to add value rather than to keep the lights on. As you said in your earlier post (and I reiterated in my last posy), we need some regular money coming in to keep things ticking over.

Was poorly for a couple of days, saw the share price rise, didn't think much about it and went back to bed.

Now looking at what has happened, I'm left scratching my head. Is this ethical? Was my first thought as, even if the law changes favourably from an investment perspective, do I really want to be in this area in a company that has already a huge foothold in supplying products across Asia.

Needless to say, I will be conducting some further research, and will not hesitate to sell if there is any suggestion of supplying products that could be misused.

That being said, I am keeping an open mind and, provided I can tick that necessary box, I like the sound of what is being proposed. I agree with Bignose, this needs to be followed by some income - a sustainable source. The fact that we might have a platform for Fortacin also is quite exciting and I can see an immediate synergistic benefit there.

I'm not fussed about dilution this time either, given the purpose it is being put to. So much now hinges upon the deal actually going through, but if there is one thing JG is quite good at, it is making sure these events actually happen. So now we are all aware as to what he has been busy working on for the past few months, perhaps we should be a little less caustic with our comments towards him - not that I regret voting against his reappointment at the AGM - we can only form an opinion based upon the facts we know at the time, but now I do feel more comfortable although his financial package still would suggest that we paid more than we should.

This announcement in my mind puts to bed any theory of a takeover based upon the acquisition of Fortacin - the strange market activities of (was it two or three) years ago, my thought being that the exceptionally large trading figures could have been caused by the system effectively double counting inter-broker trading whilst the Maven shares were being absorbed.

The sales figures for Fortacin have hardly suggested that it will return anything to investors in the short term (no thanks to Recordati I hasten to add) and up until now, there was no promise of anything of any significance to back it up in the RP investment portfolio. Hopefully that will soon change.

I would also hope for at least a 20% rise upon announcement that the deal has been completed, but there are many other factors to consider and the short term supply of shares might spoil the party a bit.

Whatever happens, I'm actually changing broker at the moment and have been told that it could take up to 8 weeks before I can deal. If (as we always seem to) we have a significant share price rise between now and then, my advice would be to sell, because I have always missed these opportunities due to other factors such as this and I dare say this will be no exception!

I had confirmation that my voting instructions were sent to the custodian on 1st May which I trust means that my holding at least is voting against Gibson.

Thanks Bignose, I'll call my broker again today as I spoke to them after writing my rant and they asked for my intentions with regard to my proxy vote. Having not seen the form I couldn't answer, but if we co-ordinate a response, we will at least make some ripples.

I personally think JM is carrying JG and I hope that deep down, or with a little prod from us, he does the right thing.

I cannot believe we have wasted $1.5m on Gibson. I agree, both he and his puppet master Mellon have manipulated this company into a position where it becomes easy to milk it for everything and screw the original investors.

This behaviour is scandalous, we are left with nothing other than a distant hope that one day we will be recued by way of a takeover.

Serious question. How do we get him out? We clearly cannot sustain such a position and we need a CEO who is paid by results. I don't even get sent the annual report or any voting papers automatically, no doubt as a result of having my shares in a nominee account.

I'm disgusted with Gibson and I'd rather take a share price hit with him leaving and JM selling his holding than see him strip more out of what's left of our company.

We are always complaining but have done nothing to get rid of him. Unless your intention was to hold shares in the JG retirement fund, I suggest we act collectively to knock him off his perch.

Well the Australian tax claim certainly explains why JG was quiet for so long. His expertise and background lends himself to devoting more time to the Aussie fiscal dilemma which had been around for quite a while. It's not an insignificant sum, but could have been significantly worse. Drawing the line under the matter is very important for a number of reasons.

1) JG can now concentrate on adding value rather than damage limitation
2) Certainty
3) RP becomes less encumbered by any potential liability

The final point might raise hopes of the elusive takeover.

In all, I do see it as a major positive that the claim is settled, true we'll have to weather the inevitable profit warning, but we were probably going to have one anyway so what the heck if it's another $6.73m on top of the intangible write down? Who knows, we might have a change of ownership by then anyway.

Excellent news about the Australian tax dispute - in isolation it looks like a significant expense but when offset by the potential, I would opt for certainty, to draw the line under the event and concentrate on the future. On 30th June 2018 they had $9.73m cash, so a restated figure would have been $3m in the bank. Is it a coincidence that the cash balance and the settlement both ended in 0.73?

Kept my head down recently, still actively invested and holding undented. Looking forward to the next updates. Would anybody care to summarise the juiciest gossip that has been on this forum since Christmas, or am I going to be put in my place (quite rightfully) and told to read through the posts myself?

Can't blame Jamie for the market reaction. Seems strange but happens all the time on AIM. A good opportunity for people to buy at a decent price if you enjoy trading the HK exchange. Personally I wish this was still on AIM for that reason as the past couple of months have de-risked the holding for the short/medium term (in my perspective) - making the most of the ups and downs used to be quite a lucrative pastime for this otherwise slow moving share which was unfortunately brought to an abrupt halt upon the RP takeover.

Happy new year to all by the way.

A very good day I feel, all of a sudden things are moving - some interest in the product from a third party and a feeling that we might genuinely be going somewhere.

Net receipts and net sales may be the same thing (which is strange how they mixed them up in the document), but the word net is all important, ie after costs. Gross sales would have been too good to be true, but that's not what it says.

Given the potential commitment that Wanabang are showing, I think it is important for RP to keep us all informed as to the progress (which it did state that they would do in the release). Evidence of positive progress will underline this commitment and only reinforce the potential sales value of Fortacin when we move into the other regions. This deal alone really highlights to me why we would pay Sharwoods such a handsmoe amount in order to discharge them of any liability for their services. It seems as though Fortacin is worth far more than Recordati are making it look worth, who, it would appear, have their minds turned to other things.

I am genuinely delighted that we are entering such a vast market and looking forward to updates. Given the lack of conditions on RP's side and the potential up-side, my sense of delight I partially offset by a sensible degree of pragmatism.

A very swift read of the agreement leads me to the initial opinion that this might be a very good piece of news. The $1m initial signing fees followed by $4m upon approval to conduct human trials, $6m upon approval and a further $2m upon commercial sales. With milestone payments to follow and 25% of net receipts alongside a tiered percentage on net sales (interesting as I thought net receipts and net sales were one of the same). Just to add that Wanbang (very aptly named I thought) is committing to the regulatory responsibility expense themselves, thus adding further to the size of their investment.

The thing that strikes me is the substantial amount that Wanbang are ultimately committing themselves to. Obviously we need to wait for approvals, but assuming things are ok, Wanbang will want to recoup its investment and I would have thought, done their sums. If we are really to receive 25%+ of net sales, then the <75% that Wanbang will have will need to cover their outlay before they start to make any profit, thus we should also be expecting considerable royalties. Given the size of the market in China, it doesn't sound totally unrealistic.

At last, things seem to be moving in the right direction, there are no strings attached that I could see relating to canister sizing or other pre-conditions that really put a spanner in the works of the Recordati launch, so, everything else being equal, we should be in for a good day in HK later.

Haven't read any other posts so sorry as I may be repeating what others have already said!

Can't help but think his "daughter's" interest might not actually be the 46% in trust that they already own, but more the 56% they don't. Could be wrong but the whole story stinks.

I can't remember I can't remember why he was allowed above 30% interest in a company without the need to make an official offer for 100% of the issued share capital, but this shenanigans highlights the importance of having such a rule in place.

Whatever his game is, there appears to be nothing the remaining 56% of shareholders can do. Corruption and negligence in equal measures is my verdict. I sympathise with all who have been holding these shares recently, selling the last of my already battered holding last week was, in hindsight, the right thing to do, but after reading the accountants report, I would only ever reinvest if the offending director were to resign and be forced to sell. Personally I cannot see this having a good ending for anyone other than the wrong people.

Interesting market reaction, generated the opportunity I was waiting for.

Thanks, no I didn't know any of that. Having been a little busy for a while, I've not been reading all of the posts - had to go back a few pages to find the last Pom post and then clicked on his member name to find that he had been deleted. Deleting a member isn't a common occurrence, so I wonder what the reasons were...

Where did Pomander go?

Alq, I'd guess My Little Pony is worth considerably more than Red Rum when all is said and done, so I'd be happy with that one. I think I'd describe it as having Red Rum and selling him in his prime to McDonalds. If the BoD don't flog something, they'll have to flog themselves, hopefully publicly.

The board have a responsibility to shareholders. Either they create a revenue stream or they create capital growth by investing.

I wouldn't describe Fortacin as a dead horse, but I worry that this BoD will allow it to die unflogged.

Clearly lacking initiative and motivation, and with abysmal communication skills, Jamie Gibson can only be described as pathetic. THE SHARE PRICE IS A DISGRACE!

Why oh why?

These guys are in the business of promoting a product on behalf of shareholders, they could do so much more to advertise - I doubt anyone suffering from the condition is even aware of its existence, nor are any people who would feel that they'd like to have a go with something that could enhance their performance.

I can't help but think that they should push the recreational use more - perhaps that is what the canister change is aimed at....... Coca-Cola's iconic bottle shape is sexually driven so imagine what we could do here....(must stop myself now before my imagination gets me too excited). But as this is technically prescription only, what's the point?

If we could just get to the market without the need for a prescription...... I wonder if that is that why we are looking at Asian markets short term? Others will know more than me on that one but I'm assuming we could potentially put this straight onto the shelves in certain parts of the world?

Better leave it there - neither positive nor negative, but here's hoping for some progressive developments this autumn - early autumn preferably!

More likely to get somewhere by pestering JM. I'd also be cautious before upsetting the apple-cart as the last thing we need is JM selling-up. What I'm worried about is that, as Bignose has stated, this is a closed shop. I'm only in this now because JM stands to lose credibility if he lets us all down - and because I'm too lazy or greedy to sell when things start to pick up.

Ever since we moved to HK, this moved into a static holding for me, when I sell, that'll be it but chances are the company will dissolve before that. I've got 628k (sadly shares not currency) which I'd gladly use to assist in popping a warning shot across the bows of the board, but I fear it is futile and nobody on the board gives a stuff about the share price at the moment whilst there is enough money to pay their wages.

Optimistic head on for a second, we should pick up in the medium term and there is always the chance that a proper company will buy us out.