Member Info for shychap

PGlancy, there's a lot more point in you asking the CEO directly than repeating your complaint ad nauseam here.

The Q2 results/launch live presentation takes place on Weds 16 April at 11am. Shareholders have until tomorrow (Tuesday) to upload any questions for SA at https://www.investormeetcompany.com/meetings/investor-presentation-825/questions and he will also try to answer live questions on the day.

"They never thought to send an RNS on launch day."

the contender, why do you keep repeating this fake news?

OldsCool, I feel sick at the thought of this head-to-head so can't imagine how Rory is coping.

He wouldn't be the only sportsman relying on Zenakine btw…https://www.dropbox.com/scl/fi/b1n2sbgmgd2ehux5spgb9/Zinadine-Zenakine.png?rlkey=zex61n0pbd4ay3q2zo4u2gczv&dl=0

Croda is a Big Deal, not just now and this year but potentially for decades. For me, SA is protecting the company and its shareholders by following the Croda NDA rules, as he always stated he would have to. What plans Croda have for selling Zenakine and other lysate-based ingredients they may have planned is up to them and SA has no control over them.

Meanwhile, everything is on track and in line with management expectations. Savour that because these are turbulent times.

I have no doubt that SA will soon have news for us about developments in other parts of the group's business, as well as news about Zenakine customers and the new products they will bring to market.

We have an extended cash runway, little or no debt and only 232m shares in issue. I can't see what's not to like and if I hadn't already filled my boots I would be doing so on Monday at this price.

Far too many AIM companies survive on vapours and carrots, travelling hopefully and never arriving but SBTX isn't one of those. It's a real business with a blue chip long-term client and plenty more to come.

I don't carry the baggage that some PIs obviously do but SA has undeniably delivered and it might be worth taking a step back and smelling the roses.

Croda have launched our lysate, albeit in an unfamiliar space; but they know what they are doing and they want it to succeed even more than we do.

I hope Rory McIlroy's sample arrived in time for a good night's sleep.

"Anybody seen any main stream media coverage of the so called fantastic launch of Zenakine"

Bazzaman, no mainstream media coverage of the gold award winner, Pickmulse, either. The coverage will come with the launch of new consumer products, including journalist product reviews.

SA has delivered the big deal and Croda seem to like him so let's keep him. There would be risks fielding a city slicker so let the man deliver some financials in June and December before throwing the baby out with the bathwater.

But, for sure, the advisors aren't great so they can go.

Toyin, the disclosure rules which apply to mid-season changes to previous forecasts are designed to cover variations in profit forecasts, including those published by analysts. They don't apply to the vague forecasts you refer to. And they certainly don't apply to forecasts of 'cash generation' because generating cash is not the same as making a profit. Similarly, things like 'cash runway' cover a multitude of things which don't necessarily correlate to sales or profits. A company can increase its cash runway by reducing its costs, by borrowing, etc.

The only specific figure we can focus on is the £5.3m revenue forecast and the company has said that it is trading in line with expectations. So we must assume that the cash received from Croda hasn't changed anything. Of course, we can't assume either that the Croda cash will be consistent and it's not in Ashman's power to forecast how much they will get in the next quarterly payment.

So, unless SBTX have applied to the regulator for an exception, nothing has happened which would require them to materially change their forecast.

And do you know that SBTX haven't applied for an exception? The UKLA can grant a dispensation from the requirement to make an announcement where disclosure of the relevant information might prejudice a company's legitimate interests. Arguably, that could apply to the Croda deal since there would seem to be a risk of losing it if the NDA is broken.

We know the score here. SA has spelled it out on several occasions and in RNS's, eg:

"The commercialisation by Croda of the SkinBiotix lysate has begun. Due to the highly confidential nature of its business and market, shareholders will only see the impact from the Croda partnership upon our financial results at full year end, and long term…"

Toyin, I don't think you know whether SBTX is breaking any AIM rules. You insisting that they have doesn't make it so. Try again when you have some evidence.

Better still, talk to the company secretary. More research needed.

NDAs are very common in supply contracts. Many FMCG manufacturers don't want their competitors to know in real time how many they are selling. I owned shares in a UK tech firm selling 3D TV chips to LG and they weren't allowed to divulge details to shareholders or the media until much later. And a firm I know is a component supplier to Apple who has been told they will lose the contract if any information about it is leaked.

Shareholders don't get to know any financial details until the accounts are published. Hopefully SA can throw us a bone or two but he is dangling on Croda's string – as he warned us about.

Croda have made the claim that Zenakine effectively delivers a non-surgical facelift or Botox equivalent (my words not theirs) by increasing the skin lifting effect by 13.3% after one month's use. That sounds worth having.

It isn't clear how much of this comes from the claimed sleep improvement (presumably everyone's skin looks better after a good night's sleep, whether induced by Zenakine or a sleeping tablet) and how much is due to the lysate and would be delivered even without sleep.

They do talk about its anti-ageing properties but they haven't focused on the anti-wrinkle results proven in the SBTX trials.

It's highly unlikely that their testing disproved the respected and peer-reviewed science which came out of UoM so the reasons for their current positioning must be marketing led.

I don't know how many anti-wrinkle ingredients they sell but it's a widely-touted claim which must account for a big chunk of their revenue to date. They wouldn't want to risk devaluing these existing ingredients at this early stage in the launch: that's common sense for them when not one consumer has yet purchased a potion containing the new lysate.

But over time, as the consumer buys, likes and gives feedback on the new lysate, I can see Croda pirouetting again to either reposition Zenakine as the world-beating anti-wrinkle ingredient…or, more likely, launching a new product based on our lysate when they are ready to put it centre-stage in the anti-wrinkle theatre. No doubt there will be further spin-offs to come too.

This is my take as a former marketing consultant on what their plan might be. Croda is an ingredient supermarket with hundreds of lines to sell. You won't find Tesco with maybe 50 brands of biscuits telling you to buy Fox's Viennese Milk Chocolate Dipped Fingers because they're the best (which they are) because they have the other 49 brands to flog.

It will be up to Croda's customers to persuade consumers that their Zenakine product is a must-buy – although they may tread carefully as well since they probably produce other anti-wrinkle products too.

It can't happen overnight because there is too much to lose if our lysate is the best anti-wrinkle discovery ever. It will be a gradual process while Zenakine initially makes waves in the trending neurocosmetics sector for its wide-ranging anti-ageing, sleep-inducing, mind-enhancing properties.

Hence, exciting as 2025 should be, the years ahead could be huge for all of us.

"Obviously in a sense you're just rehashing what Sunshine Today and Netcurtains have been saying ..... "

netcurtains, red flag for me when posters refer to themselves in the third person.

Why not take a break and get your aliases straight? Have you and Sunshine Today ever been seen in the same room?

There would have been a stewards' enquiry if there *hadn't* been two payments by now.

As an activist investor, I have in the past tabled resolutions to successfully get rid of under-performing AIM directors; and I have often been publicly critical of companies I was invested in. So I wouldn't hesitate to call for Ashman's head if I thought it necessary. But I don't.

The only fundamental thing that has occurred this week is that Croda have finally proven that they are our customer by launching a suite of cutting-edge ingredients containing our lysate. Right up until Tuesday, I couldn't fully believe that it was going to happen.

So I am now a much happier and more relaxed shareholder than I was before. Ashman has delivered this deal and now we are set to reap the dividends as other players take it to wider markets. And for me, he has done it the right way, given Croda's conditions.

He isn't about to buy shares because he has inside information about the Croda agreement which he can't yet share with the market. But I gather he will when he can.

I'm grateful to him for delivering as promised. SBTX can grow rapidly from here as a proven developer of pioneering tech for the cosmetics, beauty and wellness business. And the temporary dip in the SP is irrelevant except as a buying opportunity. The company remains on track.

PGlancy, 10% of the forecast SBTX revenue for 2025.

PGlancy, I would be very surprised if the payments received so far from Croda exceeded £530k.

PGlancy, paid-for broker notes aren't worth the paper they used to be written on. The latest Cavendish effort was no better or worse than most. Anyone who relies on such notes for their investment decisions is, I suspect, naive.

You can whinge as much as you like but we're not going to get forecasts of Croda revenues. We will find out how much we have already been paid by Croda but that's not very relevant at this stage, not least because Croda's quarterly payments are coming in three months in arrears of Croda's customers settling with them. And not even Croda know how well their customers' products are going to sell.

I'll keep Ashman over a city slicker any day. Since I invested he has delivered what he promised, which is more than I expect from most AIM CEOs.

I also like his cautious but honest style and his willingness to engage with PIs and answer all the questions, albeit not necessarily providing the answers that that the wolfpack wants to hear.

No-one here was honestly expecting any financial information about Croda at this stage so maybe the moaners are simply trying to get the SP down so that they can buy back in.

I will sit back and enjoy the ride. Without doubt imho, Croda have pre-sold Zenakine to a number of their customers and their new product announcements will follow soon, complete with their marketing claims.

For the sake of accuracy, SA did issue the Croda launch RNS at 11am on Tuesday – doubtless the embargo agreed with Croda – so not sure why you claim to have been waiting all day for it.

The drop in the SP has nothing to do with SA – and there is certainly no fundamental reason for it, as he confirms in today's RNS.

As for projections/forecasts, you'll have to make do with the 2025 sales forecast of £5.3m excluding Croda revenues because, as we already knew, he committed to no forward looking projections when he signed the Croda deal. If you didn't like that you should have booted him out then.