Member Info for Silverblade

They have raised and burned through £200m in 8 years. Spending an average of £25m a year for 8 years to achieve a $4m revenue. Absolute madness. SB

I don’t think it’s deliberate on this occasion Mikemine - just a combination of algos at work and low volume trading. Don’t really know where Renx goes next - price hit 1.6p at one point today / market pricing imminent failure. It’s going to take a miracle to survive - but it’s not over yet so there is always a chance. SB

I guess someone had to carry the can for the tax shambles in the 2025 accounts. Looks like it was the former CFO. Now onto third finance lead in three years. Although rather than focusing on complex transactions and capital markets - how about actually growing the business and being honest with shareholders. SB

I think they are getting to the point where sales staff are not the answer. Its almost three years since Howard Doran was appointed to lead global sales efforts with a direct sales force - and in the period since that appointment they have made very little progress. The new strategy appears to focus on working with a partner(s) to agree a national distribution agreement - where that partner has an existing sales infrastructure team/capacity capable of penetrating the market in a way in which RENX is currently failing. This relationship would be based on a revenue sharing agreement. Its does look all a bit desperate but its last chance saloon stuff so lets hope something can be achieved or the future here is grim to say the least. SB

46 members of staff for starters.....crazy stuff for a business with a projected $4m revenue in 2026. Cost reduction initiatives - I mean seriously. SB

I can assure you there will either be a placing/rights issue in the next month or so or the company will be taken private in the summer. It cannot survive without fresh funds - it lost $8m in H1 2026 and revenue growth is incredibly slow, overheads way too high. Dilution will be painful but necessary to ensure short term survival. SB

This is hardly news - both the laboratory relocation and CE timetable have been previously communicated. More likely this is 'market noise' ahead of a placing next month. Current cash will run out in June. SB

Mikemine - I've been an investor here for some time and went through a heavy anti barrington phase at the point of the 0.5p fundraise last year for the reasons you note. I agree with a lot of your recent observations. Recent posts here by others are still venting - and to some extent that is understandable given the low market cap/share price. Whether that is from a position of having a holding here or just throwing muck is up to those individuals. All boards have this from time to time. Goes with the territory. It has been known for some time there would be at least one, possibly more funding rounds required. Participate and retain current % shareholding; or don't and get diluted. Positive sales progress has certainly not been replicated at valuation levels. If you believe that VRCI has a viable, commercial future, then even with additional shares coming into the market it looks a decent bet. They may look to raise a similar amount as last year - which should see them well into 2027 - and possibly nearing breakeven. Its the old 'short term pain for longer term gain' mantra. SB

44m shares purchased to date - almost 5% of total shares. £50m programme commitment should see another 20m+ shares taken out. Will be interesting to see if there are any positive NAV moves resulting from increased electricity prices - on the downside there may be some portfolio reductions from latest asset sales (assuming they have gone through) - although the longer term impact should be positive given the disposals are in the supported living sector. Still feel discount is too heavy and at some point a fixed price dividend starts to become an issue - possibly linked to discount.....SB

Its not a great position when you see an RNS from ekf regarding any type of investment and its gives you a cold shiver. I had a look at beep - looks like part of the Swedish snowboarding team produced an app for garmin watches to monitor performance blood sugar levels etc as you train. Interesting enough I guess - and there is a link to the ekf lactate monitor. I think you are correct in your assumptions YHAL - when I reread the RNS it refers to an 'asset purchase agreement' rather than a business purchase - which sounds like a pre-pack admin type of a deal imo. Although knowing the strength of the dealmakers at ekf we have probably inherited some type of liability which will come out down the road :-D SB

Actually looks like the opposite YHAL - NAS are no longer selling as part of the buyback programme. Although someone else probably was given the size of the trades. Todays bit of corporate news was so huge it didn't even merit a purchase price. I'm still holding a position here in the faint glimmer they can actually grow the business on annual basis - surely?! SB

Looks like a typical death spiral - MMs probably want to avoid a complete rout at the end as they will still be holding some stock and will try and recover something. SB

McCullough has just resigned as a non executive at associated company VRCI - to focus on his CEO role at RENX…..comedy timing. As much as it pains me to say - VRCI seems to be making better progress, have a much lower cost base, and are penetrating target markets more successfully than RENX. I hold both. SB

Don’t disagree with any of your points hawker. I guess I’m trying to see anyway they can turn this around. The odds are now heavily stacked against Renx - trust is a big issue for me - no longer believe what we are being fed. Plus the company is way oversized for its current model. That surely needs to change if there is any hope. ATB. SB

I guess I'm looking for a few things mikemine. Tutivia test sales increasing paramount. Each quarter last year was essentially steady - about 300 per quarter with $3m total revenue. I think the company should be targeting a doubling of tutivia revenue in 2026 - perhaps ambitious - but should be achievable with recent deals, sales team, new centres, adoption into protocols. Add to that some traction with the PRTA - accept not in vrcis hand anymore - but still due a further milestone and royalties thereafter. A plan for Protega is required (funds permitting) and lastly making sure expenses and cash are tightly controlled. Achieving this would create a strong story for the anticipated fund raise mid year. SB

For the non farmers here when does that normally happen geraldus?! Looks like some bed and isas going through today. Here’s hoping Q1 went well / and the results in May give us a bit more on current trading. SB

Given shareholders have seen the majority of their investment reduced to a fraction of their original position, I'm at the point where I would accept further pain both in the form of large scale dilution and a future revenue sharing agreement if it buy's the company additional time to try and secure some type of commercial deal with a partner who can actually sell into what we have always been told is a significant, and yet unproven, CKD testing market. Todays RNS pretty much confirms renx are not capable of achieving this with their own resources. Or do a deal with a diagnostics partner who brings in both capital and sales expertise. Something has to change here - losing $1m a month cannot continue. SB

Crazy to think the CEO and FD were buying 'token' shares only a month ago after the latest revenue bombshell. CEO's holding at one point must have been worth tens of $ms. SB

We are due to hear something from the company in the next few days Hawker; I do agree that pretty much all hope has evaporated here. Set itself up as a global pioneer but seems doomed to epic failure. Clinicians are not good business leaders. Very costly mistake to get involved here. SB

Just seems strange that the declared profit of £7m is after the £4.2m tax liability, with the EPS calculation of 1.69pps based on the £7m. Tax accounting.....SB