Member Info for Sangijuelas1

Gogslogs- another one of Porkys accounts

Saying I think something is unlikely is not the same as stating it as a fact.

Well we can go by probabilities rather than wishful thinking.

And given that they have only ponied up $5m so far.....

They said they drew down the initial tranch of $12.5m.

However, the loan agreement stipulated that $7.5m of this amount had to be kept in cash if no raise before 01/04/22. As there was no raise they would have had to transfer $7.5m to the appointed US custodian.

There is apparently another $7.5m available if they achieve milestones. I believe the 2 that remain are start Bavencio trial dosing and achieve 1 in 10 clinical benefit in non small cell lung cancer.

The other $10m is at Oxford's discretion.

Many small biotechs will be banging on Oxford's door at the moment so the $10m is unlikely.

All the more so since all the deal has provided so far is $5m to actually spend.

It's not an alleged amount.

It is in the loan agreement and referenced in the notes to the financial statement.

And what is going on with the Bavencio trial?

In Feb 21 they said they would start it later that year.

We are now 6 months into 2022 and still no word.

Why is the trial delayed? This is the sort of question investors need to be asking

Phil MHB said the company should muddle thru with temporary funding from a small raise.

4D themselves have said they need a much larger raise to fund the various trials that are due to start.

So does he want to get a small temporary financing and forget about launching the new trials?

Might be a moot point either way as biotech capital raises are lowest for a long time.

That's why I stepped out for a while.

If they raise I will reinvest.

Why don't you engage with the question?

Otherwise it's just lala land thinking

So you want them to ditch the plans for the asthma trial, the Parkinsons trial and the Bavencio trial?

Because bridge finance is not going to pay for them, is it?

MHB you seem to have read the AGM Reasons for 8 and 9 statement very selectively.

It is stated quite clearly that in the short term say next 18 months the only way they can get cash is fundraising.

Partnership income is anticipated in the medium term so 2-4 years.

So you can have dilutive financing and new trials or you can have a £10m raise or loan to pay for the admin and factory costs for the next 12 months with no trials.

More Graphcore, Toon mentions their rapidly growing European customer base

https://www.intelligentcio.com/eu/2022/06/16/digital-realty-partners-with-g-core-labs-and-graphcore-to-accelerate-ai-deployment-on-platformdigital/

It was $5m available to spend and they had to send the other $7.5m to a US custodian in April.

Not sure if that then had to be deducted from the year end cash.

Anyway that's enough 4D

I had never heard of a loan of that type where you can only use under 50% of it for by purposes.

Never heard of a company paying interest on the full amount of a loan when they can only use part of it.

Also I didn't know the loan agreement had been published. I had assumed it was covered by commercial confidentiality.

Yeah buried in an attachment to a massive SEC filing.

The RNS which stated they had received $12.5m. It made no mention of only being allowed to spend $5m.

Have you ever heard of a loan arrangement like that?

Just raised another $200m yesterday. Last 2 rounds led by Draper, this one led by Sofina and Soft Bank Vision Fund.

No valuation publicised but there wasn't last time either.

Their clients include Coca-Cola, Danone, Toyota, LVMH, L'Oréal, Credit Suisse and Twitter.

https://www.techcrunch.com/2022/06/14/coachhubraises-200m-led-by-sofina-and-softbank-vision-fund-2/amp/

Nigel Toon speaks
"It is, in fact, coming down to a software duopoly, Toon maintains. "You look at anybody else, even the big companies, there's nobody else that's got that apart from us and Nvidia, that range of ecosystem."

Meantime, he claims, Nvidia's hardware advancements are not all their cracked up to be because Nvidia's freedom of design is constrained by its own success. "What's Nvidia doing? They've added Tensor cores, and now they've added Transformer cores — they can't change the fundamental core of the processor because if they did, all the libraries would have to be thrown away."

https://www.zdnet.com/article/the-future-of-ai-is-a-software-story-says-graphcores-ceo/

Twitter found Graphcore IPU outperformed Nvidia GPU

https://www.theregister.com/AMP/2022/06/16/graphcore_nvidia_gpus/

It's like if something is good you don't need to shout about it.

I am invested here for long term so not bothered about daily price movements. If traders and spread betters get flushed out and I get to buy more cheaper all well and good.

I intended to invest long term in 4D but found I could not due to serious concerns about their financial position (ability to raise cash in a biotech bear market) and lying by omitting crucial information about a loan agreement.

I also abandoned Avacta because of the LFT failings. I could see all their other programs have a long way to go and their current Mcap is not justified. It is 6.5x that of 4D

I say it how I see it.

AN said they want a clear out of the flippers. That's what is playing out.

I think will go lower and stay lower Going Large.

The warning was given loud and clear.

Over 3 weeks since the news and no TR1s up or down.

This is retail getting turfed out and you can forget about the run back to 125.

IIs can accumulate off market and traders will get bored when they see it's stuck.

Look at 4D for an example of hope turning to despair.

This has a way further to fall.

AN doesn't want the "number go up" short termers.

Probably still quite a few to be cleared out yet

I think he already owns something like 25% of the company