Member Info for ShearClass

From the 26th Jan placing RNS;

"When combined with Zephyr's current Williston Basin assets, the Company's pro forma non-operated portfolio is expected to generate production of approximately 2,250 boepd in Q1 2022 reducing to approximately 1,250 boepd in Q4 2022 based on Sproule's forecasts."

Q1 ended up generating 1600boepd and 2.5months into Q2 they apparently don't know the current run rate... 200-250boepd extra would mean Q4 hits 850boepd?

This reminds me of NTOG..

Cracking post a couple of hours ago from Chris Madsen...

https://www.linkedin.com/posts/chris-madsen-49b2312_metaverse-apollo11-vr-activity-6942912791875919872-tbRO?utm_source=linkedin_share&utm_medium=member_desktop_web

"ENGAGE XR is taking an exciting leap into the future with our upcoming launch of ENGAGE Link! This is an early teaser of what we have been building for professionals, educators and creatives who are looking for a professionally focused platform to enable their leap into the #metaverse!

From a small team 8 yrs ago, to now over 100 employees, this is a new chapter in the ENGAGE story and a realization of our dreams for a remote persistent professional collaboration platform. Persistent locations, enhanced vitrtual tools, media management, creator features, robust customization options, and so much more. Our roadmap is aggressive and it's going to be exciting to watch the acceleration of upcoming features rolling out.

A massive shoutout to the ENGAGE community, many who have been supporting us from the earliest days....your input and willingness to explore what is possible in social VR has been a joy to be a part of!

Cheers to David Whelan & Sandra Whelan for their strong vision of virtual education from the early days and Kickstarting the beloved #Apollo11 experience which made this company possible. Thank you Mike Armstrong, Senior Technical Architect, who changed my life, providing so many of us our first taste of remote social presence in the days of Oculus developer kit hmd's. And finally, gratitude to all the pioneers, spanning decades, who contributed in getting VR to where it is today and who we can learn so much from! There is a lot of exciting challenges and work ahead.

Here we are now, an age of experiential communication, in which we can teleport our consciousness to shared digital realities, to be present with each other in any environment, to share experiences free from the restraints of the physical world; a spatial canvas in which everything becomes possible. Exciting times ahead!

PS... If you are a seasoned #VR creative, we have some unique opportunities for you to be a part of the Link launch. Please give us a shout :)"

A bit more PR oldtramp;

https://www.roadtovr.com/engage-link-metaverse-education-enterprise/

"Previously codenamed Oasis when it was first revealed in June 2021, the Ireland-based studio calls Link a “professional metaverse,” as it was designed to host persistent virtual worlds which serve as gateways to individual spaces where employees, students and individual users can interact."

Guessing the formal launch RNS will land in the morning...

Market makers trying every trick in the book to shake out loose shares here;

- NT to buy at 6p most of yesterday afternoon
- tree shake into close
- walk bid down on every sell this morning
- NT at 5.5 and now 5.7p

Matter of time until this trades significantly higher IMO, they paid £6.25m for Lubu in mid 2019 and there have been transformational changes to the market & company since then…

Harchris, they had £11m cash and £53m debt at 31/12. They’ve since taken on another ~$82m of high interest debt. Almost all of the cash raised has been used for mining equipment prepayments, nothing held back for a plan B. It’s capital destruction, but good luck with your bottom fishing ;)

It’s crazy @levs, has been the same all the way down though! People look at 31p and compare it to where it was a year ago and think they’ve got a bargain, utter madness.

This time 2 years ago shares were trading at 4p and I’d argue the company were in far better financial shape back then, BTC was stable and mining difficultly was half its current level… oh and it was pre halving. Sure, they’ve massively upped their hash rate, but also taken on huge debt in the process. Annual interest must be ~$10m although I’ve not done any definitive calcs.

It’s a horror show in the making.

“AIM volatility and lack of interest are a real turn off for IIs and deter PIs too. Doesn't make sense but a good time to buy and top up.”

It’s got nothing to do with AIM and everything to do with the dual NASDAQ listing. It’ll bottom when the XBI index does. At £100m enterprise value I’m not sure why a rival or bigger fish wouldn’t take it out?

Brilliant find! The thread comments are full of praise for Engage XR too.

https://www.linkedin.com/posts/activity-6941305047435649024-aGQa?utm_source=linkedin_share&utm_medium=ios_app

“Loved the experiences ENGAGE XR created for the event - they were both immersive and engaging. It was great shaking hands with the executive team and giving a presentation while WFH in India #gf_innovation #futurewaysofworking #metaverse #vr”

The one from Steve Suarez has an image of the HSBC virtual space, looks superb.

Echo the earlier comments that it’s amazing to be buying shares in such an exciting company at 10p / sub £30m market cap!

Profit takers will regret their actions in a few days IMO. However it’s natural to be tempted by a 25% gain of the rest of your portfolio has been crushed. BEN didn’t go up in a straight line and I remember looking at it around the 11p mark and deciding against a buy, not making the same mistake here.

They’ve not sold anything - it’s just the impact of the placing reducing their ownership %

Just doing some digging and thought it was worth posting the below from P12 of the annual report - a 5 day trial with verdict straight after, damages number and whether it was wilful infringement is nice and clean cut...

"Assuming some of Nanoco’s
claims are found to be valid by the PTAB,
Nanoco will be able to focus our efforts
at the trial on the questions of
infringement and damages. This is
helpful given that the trial has a fixed
five-day duration that ends with the jury
issuing a verdict, a damages number (for
historical sales of TVs in the USA) and an
opinion on whether or not the
infringement was wilful (in other words,
knowingly and deliberately infringing)."

The RENX issue was related to MCIT - a proposed law which would have given automatic Medicare insurance to devices that had Breakthrough Device Designation upon FDA approval, removing a major block to commercialisation. It’s been repealed for now which has caused the decline.

Absolutely wanted to discuss Angle however I needed to frame the reimbursement point with something relevant.

It seems baffling to me that AGL didn’t apply for their CPT code this time last year. I can’t think of a single reason they would wait for approval before starting. Can you? Surely they had to be planning for a successful approval?

@Miavoce, you missed the point somewhat. A CPT code is just the first step, this is from a RENX RNS on 1st July 2019;

Michael J. Donovan, PhD, MD, Chief Medical Officer, RenalytixAI, said: "This is an important step as we prepare for KidneyIntelX's scaled roll-out in the United States. A CPT Code is instrumental in obtaining insurance coverage and reimbursement, and will increase access to KidneyIntelX testing results for patients with chronic kidney disease."

Instrumental is the key word. You can’t really start the insurance process without it.

Also from their admission doc;

“The Company believes that emphasising a coverage and reimbursement strategy at the beginning of the product development and clinical validation process can help to mitigate some of the timeline risk associated with achieving regional and national coverage and reimbursement.”

That was nearly 4 years ago and they are just starting to get serious insurance coverage now. It’s a long and wining road indeed.

Thanks for sharing oldtramp - much appreciated :)

I listened to this presentation yesterday from 24th May;

https://www.youtube.com/watch?v=UKGxtMmOKqQ

"Engage XR - Disrupting Global Communication"

Very exciting stuff indeed and something I believe can make a huge impact in disrupting education for the better.

From 16.30 in the 25th May webcast it was confirmed it will take 1-2 years to get a reimbursement code for any parsortix metastatic breast cancer offering. The problem is that is just part of the reimbursement journey. A physician is highly unlikely to recommend Parsortix for patient use unless it has insurance coverage - this can be via Medicare or regional insurance programs, but both are highly bureaucratic and time consuming processes.

Fellow AIM listed diagnostic provider Renalytix (RENX) has taken a very different approach to reimbursement, making it the number 1 strategic pillar. Most here would benefit from listening to their CEO’s most recent comments a few days ago;

https://wsw.com/webcast/blair66/rnlx/1966104?mobile=True

In short, reimbursement is the number one risk factor, without it you don’t have a business as you can’t get paid. If you can’t get paid then you are reliant on comparatively immaterial pharma services or collaboration revenues to fund your growth. The RENX CEO is very passionate about the subject.

RENX got their reimbursement code at the end of 2019 and have been working towards Medicare and insurance coverage ever since, making major progress this year. AGL have a strong starting point as there is a lot of real world evidence available to support insurance coverage but it takes a long time.

RENX is still waiting for FDA approval having applied around the same time as AGL but if / when it lands they are ready to roll. Why on earth didn’t AGL start the reimbursement process before FDA approval? It is a major obstacle standing in the way of serious revenues. FWIW shield therapeutics did the same as AGL…

Definitely interested, bought a chunk today after watching since the April news…

@Sang, from the 26/07/19 FDA approval RNS;

"Market research suggests that the prescription market for iron replacement therapy in the USA is worth over $1.0bn annually. There are between 8 million and 9 million patients in the USA who suffer from iron deficiency anaemia and management estimate potentially two to three times this number require treatment for iron deficiency."

But you say it's now on their website as being $3-400m? What does that tell you?

Nope STX is a completely valid comparison in my opinion as it shows what can happen to a company that gets FDA approval but doesn't continue executing. If AGL don't sign material commercial partnerships in the next year & also don't make efficient progress on the regulatory front (reimbursement, medicare, insurance etc is a major hurdle in it's own right), then they won't hold a £300m valuation very long in this market.

FWIW STX had a valuation of £230m at £2 post FDA approval and the target market for it's drug was $1b per annum, this compares to $500m per annum for metastatic breast cancer. Sure, AGL has oodles of potential but that won't matter if they can't convert it into revenue in the near term.

Glad I wasn't the only one to think that Genghis. I don't think I've ever heard a CEO on AIM / NADSAQ / any exchange talk down the near term potential of their company because they don't want investors to buy shares unless they have a 'long term' outlook... it's probably the best way imaginable to kill momentum.

The CEO actually appeared quite angry about day traders / the share price, to me this suggests he's come under some pressure about raising capital post FDA approval but rejected it because it's not the path he wants to follow. He's focused on empire building but it's not clear where he will get the required capital from. Big Pharma partnerships are the promised land but it's extremely rare for an AIM company to receive a meaningful investment whilst retaining control of the asset (Silence Therapeutics was the last one I think) .

IF AGL were to get a meaningful equity investment from Abbot / another big boy then it would be time to commit for the long term. Until that point there is downside risk if they can't execute due to trying to spin too many plates with little capital. Shield Therapeutics attained FDA approval back in 2019 and the share price hit 200p, it's now languishing at 14p and miles away from achieving commercial success, so nothing can be taken for granted.