Member Info for RuckRover

Inan,
This may help you....

https://www.mathsisfun.com/algebra/equation-formula.html

Inan,
“when did we add water ?”
When the extra shares were admitted to the market.

Do you not understand your OWN analogy?

Ray,
Yes, but the period adding of water is offset by the Improved market reaction sentiment as the worry about funding is removed, at least for a time. The buying opportunities come wHen the SP is below the intrinsic value of the company. The OO gave us an even greater incentive with a discount to the current SP. Hence it was oversubscribed.

Ray,
“Today 09:12
But are we adding orange juice faster than we are adding water should be the debate.”

Exactly! Which is why I asked the question WHERE has the extra £3.2 billion come from - a scenario in which juice and water would be equal.

Unfortunately there seems little appetite on this board to discuss valuation sensibly.
Good link posted by Bermuda last night - supporting more orange juice.

TF, thanks for your comments
Ray, thank you for contributing to the debate.

I know many have said that it is pointless having an argument around valuation. I agree, it is impossible to put a precise value at this early (after 10 years!) stage but I disagree it is "pointless". As a professional forecaster, you have to accept it impossible to get things spot on but that doesn't mean you give up getting as close as possible and resort to guessing.
If you feel otherwise, please move on........

The initial question regarding the "extra" £3.2 billion on the perceived value came about from Inan's "£8 still works for me" comment. He is quite entitled to his opinion (as I am mine) but I'm afraid £8 DOESN'T work for me. In the formula:

Company_Value = Shares_In_Issue x SP
Or
SP = Company_Value / Shares_In_Issue

for the SP to remain constant when the shares in issue changes, then the other variable - Company Value) HAS to change. In this case from £1.8 Billion to £5.0 Billion (over a four year period).

Ray, I accept your point about the enhanced value of Immunobody over the past four years - but, was that already factored in to the £1.8 Billion valuation?

Personally, I'm a little uneasy that 64% of the value of Scancell has been produced in the past four years. Isn't that grossly devaluing the contribution of Immunobody and Moditope? I'd go the other way round and say that 66% of the value was already there 4 years ago. So IF it was £8 per share 4 years ago, we are now looking at £4.29 per share (£3.80 fully diluted)

Please note, I am not endorsing the £8/share valuation of 4 years ago, simply stating that IF that WERE correct, then this is where we would be now taking into account dilution and additional IP value for Avidimab.

If you don't want to discuss values and you have read this far - it's your own fault :)

bobbust,
Are all of your accounts are with the same provider?

Crumbs,

And you definitely didn't ask for exactly 100% of your entitlement? :)

“ The problem with Ruck he is trying to use valuations based on some sort algorithm.”

Yes, why use a formula when you can just say..... £8
LOL

FD,
How many extras did you apply for as a percentage of your entitlement?
What platform do you trade on?

FD,
I asked for another 100% of my entitlement so the percentage comes out the same either way!

I was expecting there to be differences between individual investors since the allocation will be ny nominee not individual. If not many Halifax customers took up the OO then there would be more extras to give to those that did. I would expect any others with Halifax to get the same percentage.

I’m with Halifax. My OO entitlement Shares plus extras were in my account yesterday (but no cash returned yet).
I got 40% of my entitlement as extras.
I’m not sure if the scale back is a percentage of entitlement or a percentage of what was asked for.
Any views?

LL,
Totally agree. LD is in the best position to assess the chances of success. I expect she knows stuff she hasn’t even shared with her fellow directors (yet).

C7,
I can tell it was a special day, that comes over loud and clear each time you recount the story.

FD,
In round numbers. I wouldn’t quibble over the penny!

Ivy, C7,
Quite right. Multi simply means “more than one”.
So any of the following are “multi baggers”..
x2 = 14p
x5 = 35p
X7=50p
x10=70p

Any of the above quite possible.

Bunsie,
I don’t have a problem with any of those valuations so long as there is some substance to the claim.
Good luck for another jet.

Chester,
“Please Ruck stop going on and on about the same dam thing...”

If you care to check back, it was Inan who raised the £8 per share issue. Don’t YOU think it is an incredible coincidence that the value of Scancell has increased by EXTACLY the Same amount of dilution over four years? Think about it!

Inan,
Have you ever thought about engaging the present rather than cutting and pasting the past?

Bunsie,
Just to add, I took up my allocation in the OO and applied for extras. (I have supported all the OOs the past eight years). I am very optimistic about the future prospects given the cash pile we now sit on. I am happy to debate whether the value is 15p, 50p, £1 or £8.
What I can’t accept is a valuation of £8/share with 224m shares that is still £8 with 629m shares in circulation.
It does not make any logical or mathematical sense UNLESS there has been a corresponding INCREASE in the potential value of the company. I merely ask, what is it?
Surely that’s not unreasonable?

Bunsie,
Not at all. It’s a legitimate question. Inan has stated £8 works for him and I have asked how?
Or do you think wild, unsubstantiated guesses at a value are acceptable on a public BB?
Personally I find them misleading and dangerous.