Member Info for RN1MLT

Thanks for the link.

Totally shocking, all done on purpose to wipe us out. Lost a substantial amount in this one, lesson learnt, a very expensive one!

Where is this RNS, I cant see it here, can any one please point to the source, thanks

Not sure about the SP reaction but very good for the company. The fact that TRX patent claim is not challenged and actually granted, means a lot. In Biomedical field, majority of innovation happens in UK, US, and Europe. That fact that no one big has come with a similar looking protocol in the last 10 odd years, tells me that their is truth in what company says about big players not willing to do this work by themselves.

You have TRX, which has technology that is protected in all relevant markets, selling products for over 10 years, growing sales and no major issues with product or had bad press for it's products. Moreover, the limited clinical trials have shown better results for their products. Surgeons know about them, used the product, so product familiarity. This makes TRX a safe bet for a big company to takeover, it's an oven ready company, just put money in production and are minting money. The competitors of this big company will also be interested right?

This news along with the fact that people in the know have only added stock and have not sold any in the last 12 months, gives me a bit of comfort. Still anxious btw.

We should assume it will be converted but the fact that conversation date now pushed back to 4 December, leaves room for the company to pay back the loan in cash. The more I read, it looks like other IIs have forced this to reduce dilution. But, where is this 8M coming from???

Totally agree on the valuation argument and one other thing that baffles me why we didn't raise to 5x revenue multiplies, which is a minimum for a profitable business. It's not like, we were at and above 5x, now with the potential slowdown in growth only warrant 3x. We are close to 1x, which is bonkers tbh, and close to 1x asset value of the company, why??

Unfortunately, we won't have a big say if it goes private, they need 2/3 majority, which is what they have since LOAM and RG added 3% between themselves.

Fingers Crossed indeed!

If this goes 100% up, then lessons learned to keep the courage and conviction to hold and may be add more. I can't add more now as I don't have the courage and I value discipline in diversification more. But if this goes south, then a lesson learned is that I am not suitable for this style of investing, I just have to keep more of the funds in a global ETF and enjoy life.

covgaz, same thoughts here, always wondered why the sp never moved beyond 60-70p range. always had some explanation though, we had inthello taking 15% stake around 50p, so assumed they managed the sp to accumulate. but, last year i was questioning the same, why not move now when you report your first profit? you have **** companies moving 15-20% just for signing a distribution deal with no promises of revenue.

it could have been controlled and kept range bound so as to not upset iis take private plan at a low sp or there is an inherent risk in this business that it scales very slowly due to human tissue availability and the fact that it is in highly regulated sector, so one bad batch of product and the company is toast, hence the risk premium.

the xenograft products should be scalable more easily, so a good diversification. the company is now selling products for close to 10 years, enough time to prove their products work and are reliable, this has immense value for a big brand. it's 10 years of r&d and 10 years of market testing of products, should have a high premium for this. lths will remember, in may 2020 trx was hacked to steal their tissue processing ip (a failed attempt), this told me they had something valuable in ip.

i am worried myself about the decay in sp, this company had good management and excellent products, a field i understood and know first hand the products work. the company was growing and turned profitable, if this goes south, it will shake my confidence in picking individual stocks, what more a pi can do?

BJM, Cavendish are exempt as they are the broker, plus they must buy/sell to make the market, if there is no one out there to buy or sell our shares, we will not be able to trade them.

YHAL, TRX had so many products including heart valves at one stage, do you know they had £100m in cash and valued at over £600m, all because they had the backer (who overvalued it at that stage) and they had the product portfolio, basically too many products and no focus. When new management came they streamlined the business, removed distractions and focussed on selling high margin products and reduced R&D expenses into new products. The motto was to stand on your two feet before you can run. I feel they are now standing on their feet, so should start to run now, just have to pick the product and they can make it so they don't need to buy the IP from someone else.

Mroak, I don't think this will be part sold or a raise will be done to fund running expenses, if sold it will be all together and if they raise any money it will be to turbocharge growth. I am cynical, we will not be allowed to be part of this growth phase, and it will be taken private soon at a higher price than we are seeing now.

As they say, when news dries out and share prices move, all sorts of theories surface, all good and bad. I have a significant sum invested, won't be leaving now without the actual news from the company, never helps to react to speculations.

Quite possible.

One thing that doesn't fit is why buy stock at 58p when you know a placing will happen at a lower SP? RG and LOAM together added 3% between them. If LOAM wanted to help the IP group to exit, they could do it easily in this lowly traded stock, no need to buy I would think, does anyone have an explanation for this?

The new investor had to buy TRX as part of a portfolio sale by IP group, so we can't draw too much from the price they paid.

Cheers..

Couple more points... this is me understanding their actions as much as reading the numbers..

Why buy the real estate last year out of lease? It wipes out the liquidity which is critical if the company is about to fail/ facing headwinds. How come the board, influenced by IIs approve this? How did the lender approve this? My reading is that a lease on balance sheet is reported as liability, hence reduces the amount of debt a company can get from the market. On the flip side, if you have the asset, you can pledge the asset and get loans. When PE buys a company, they normally load the company with debt, I can see this happening with TRX, get the book in shape to raise the money partly by equity and partly by debt on the company, use some of it to buy us lot out for cheap, and invest the rest in the company.

Why sell the German venture now and take it off the reported revenue? I feel they have removed $7 mil from the potential sale value by doing this. They will value the company on the discounted revenue multiples, revenue is now $28.4 instead of $32, so less to pay.

I am still finding a reason that can convince me that future will be tough for this company which I can't see it, but the market has, hence the reduction in SP.

I am reading to find out if there is a new kid on the block in this field with much better market penetration and in general how is regenerative medicine field is doing, if anyone has information and links would be great if you can share. More research is a good weapon against misinformation, both on the positive and negative side.

Today, 3rd Tuesday of March, would have been the results day, getting this RNS today just tells me they are buying as much time as possible. I was half expecting the news of a sell or take private deal tbh.

I have invested in AIM for over a decade now, I am not getting signs of a raise, the SP would have been defended for raise to get through. Also, if they wanted to raise money, they would have done it in 2024, when they had momentum. When a company is not defending the SP, one of the most probable outcomes will be they there will be a corporate event of some sort, a price has been agreed and lower it gets the higher the premium offered will look. I am not expecting anything fancy here but I will not fear that it will be as low as we are now.

Questions for me:

Why release the news of strategic update? This is a small company, very easy for the IIs for get their way, so a leak may not be a reason, what benefit that IIs have with this? If you say they wanted the price to increase to raise money, I have seen it done in a very effective way in AIM time and again. Also, the IIs will pay what they want to pay, they value the company at a certain price, get a discount and job done, they don't need to play the market, you will only do that if don't have the backing of IIs.

Why did IP group sell 2/3 of their position at 58p and why did LP group buy it? I feel, this company needs more funding to expand quickly, so maybe they want to take this private, all the IIs will hold and then invest to turbo charge the growth. So, they will not be paying us much more than 60-65p, otherwise, it doesn't make sense for IP group to sell. Btw, IP group invested in this company even before 2014, when they became public, so may not have the appetite to stay for another 5 years.

If this is such a dud company, why is TRX owned 67% by IIs, 20% of it bought in the last 2 years? There are many companies in AIM with 1/10 of our revenue and same valuations as TRX. A revenue generating, growing company, now profitable, TRX at 60p was undervalued, one has to spell out why should it be at 40p now.

I have invested a significant amount here, only after researching, I haven't seen anything yet to panic or change my mind, so will wait and see what they will report.

Cavendish are forced to trade, so I will not read too much in to this.

No one big is buying/selling since LOAM stopped loading. This one is hard to read what is going on, delay in releasing the notice of annual results could mean anything, positive or otherwise, only IIs know what is happing. For me, thus far the fundamentals are looking good, a slowdown in growth yes, but still reported above-market growth (indicates sector headwinds, not just company specific), still profitable, so will not have problems with regular debt repayments. Will hang tight, something I did for the last 5 years with this one.

IIs will have to release RNS within 1 day even if they sell 1 share, just FYI. No RNS, no IIs selling.

Stating the obvious...I will watch.

I never spend my energy in fighting fud, but this is soo blatenet manipulation I just want to call it out. No II in their right mind will buy for 58p, when they can pick up shares much cheaper at a placing. Also, we should feel we own this company and look to give money to the company when a placing happens than picking up shares from the market, PIs practically may not practice this, but IIs will. If a placing were to happen/ was on the cards, LOAM will not be picking up the shares instead will be selling now to pickup cheap shares later on.

Never seen fud being posted on this board, it was well and truly for genuine holders, untill now when we know a take private deal is about to happen.

So a profitable business is struggling to raise money, you must be joking. If you know this company, you will know who backs it, then you will never assume they will have trouble raising money. Also, if one has followed this company, they will know that, biggest II built their stake around 50p. They could have easily given that money to the company in exchange of the shares. Then we had LOAM and Richard, who picked up close to 3% shares in the last few months at 58p. These IIs don't just pick shares from market Unless their is an event/ they feel company is way under valued. They will pay this money to the company for shares rather than but then in the Open market.

Low ball offer should be resisted... All the fud is to lay a ground to say the company is not doing well... I would not believe that .. the company is doing well.. being taken private now, so that the IIs can multibag it 3-5 years time... We cannot stop that but only agree if we get a north of 80p... It's 3x sales, with debt considered.

Guys, signs are a deal will be announced soon.. very soon... I believe it's growing down because we PIs are selling and none of the IIs can buy, as they have inside information and they cannot buy... logic tells me, no placing and business is doing fine... Let's not give this away for cheap...

Also, IIs play a long game, give THG 1-2 years from now, accumulating around £100M FCF and with plans to either grow the revenue at this percentage of profitability or promising to increase the margins to 9-10%. You don't need to ask the market to value this stock, it will just happen. 2 quarters of numbers will give some direction and confidence in the business, maybe this is when MM should leave on the high. Otherwise there is this conflict of interest with Ingenuity which will not look good and hinder confidence.

I believe MM leaving is written on the wall as none of the IIs went in with Ingenuity, now these two are two different businesses and should be driven by different management teams. I have nothing against MM tbh, if he can deliver results and improve SP he can stay, if not he should exit gracefully with proper handover to a competent CEO that shareholders can employ to run the company.

They will be passive but do hold the management to account hence the separation of Ingenuity that we saw recently. MA can only be a positive influence, he can't destroy the value and take the company for peanuts, this will not be allowed I would think.

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