Member Info for Silverblade

unhooked - this is the way I see it - note this is all imo so take it as investor research rather than gospel. As we know Renx was spun out of ekf - and it was ekf who had the links with Sinai. Renx was a start up Artificial Intelligence business - which subsequently dropped the AI reference as there was a perception this was a negative attribute. Renx - from its roots in ekf - had developed the KidneyIntel text - over which is presumably has a patent. However - this is essentially a machine learning algorithm which requires access to a clinical biomarker database in order to predict individual patient likely health outcomes - clearly focused on CKD and DKD. As I understand - the database is owned by Sinai and has been licenced to Renx via Sinai's commercial innovation business which brings clinical research and product development into the commercial world. Sinai receive both licence fees for access to this database, and fees related to the ongoing clinical testing programmes which are designed to prove the test is capable of predicting patient needs and ultimately producing significant savings from early diagnosis and treatment. So Renx needs Sinai as it stands hence my reference to the IP it holds being important to the business - and it also provides income to Sinai. Whether this is required once all the clinical surveys validate the technology I cannot say. Sorry if this is going over old ground - or is this is all well understood. Lets hope for a better week. SB

We should expect a trading update from SRC possibly as early as next week but more likely the week after. Its been quite a 12 months since Nordalk last year - and will be interesting to hear if there is any change of direction from 'buy and build' into 'consolidate and cash' from the team. Inflation and Ukraine have driven investors away - but will be good to get a strong H1 2022 under the belt and demonstrate the resilience of the business to cope with market conditions through its six core trading platforms. SB

Difficult to see where we go from here. Cash burn is terrifying for current operations - they must have known this in March - why raise $30m when it only covered an additional 6 months current spend rate - or was that all that could be raised - in which case that's even worse. RNS was full of red flags - limited growth, need to secure capital, shareholder dilution, excessive costs, a sales force which doesn't appear to be selling anything, partnerships which cost us money, failure to deliver previous targets (300 tests per week, 10,000 in 2022 etc), 20 healthcare systems with only one selling tests, partnerships which don't deliver anything (so why think new deals will create any sales when current ones don't), not one mention of FDA and the worst of all an increasing sense that our management are oblivious to the basic fundamentals of how to navigate the company into a better position other than raising/spending more cash and hope for the best. Mills must be fuming with this performance - two days after he told the market the company had a 24 month cash buffer. Apologies for the downbeat post but imo we now have a very limited window to get on top of this - or the outcome is end of the line for the business and Sinai takes back its IP. SB

Q3 makes for grim reading. I really thought we would have seen some momentum in sales - but apparently not. Q4 not looking any better - even reference to a decline. $2.9m prediction for full year. Costs were meant to decrease in Q3 but have gone in opposite direction. Reference to having enough cash for 12 months - whatever happened to the 2 year look ahead. No other system apart from Sinai contributing sales - and the research costs we pay for that benefit far outweigh the income. Also - reference to future fund raising, debt, ADR's which will dilute existing shareholders. Trying to see some positives but struggling. SB

Hi ShearC. Have to agree it’s unusual to have held through the last 9 months of slide and sell when there doesn’t seem much further downside….but as you noted - a profit is a profit and not many can say that in this sector at present. Q3 results will be very interesting - issued on the same day that our fiscal year ends - so they may have been timed to allow a further trading update. SB

Looks like Randy B from Pinnacle was in London a couple of weeks ago - there is an interview he gave Edison now available on youtube dated 21st June 2022 . He remains positive on RENX and confirms pinnacle were involved in recent $30m fundraise - which was at $7.25 a share. Interestingly he also mentions having met EKF during his visit - presumably through the Christopher Mills network - and appeared to like what he heard - so possibly looking at an investment there also. We must be due the Q3 results any time now - historically there has been a prior RNS notification. SB

I was trying to convince myself that my investment here wasn't a complete dud - and take some comfort that we have some major II's on board - although Blackrock's CFD position looks like it is turning into a very good call. £350m wiped off market cap in 9 months; c. £200m in last three months alone. Will be very interesting to see H1 EBITDA and earnings - looking for £40m+ and EPS of about 3p - which bear no correlation whatsoever to the current price. As you say italian - dig in for the medium/long term. SB

Italian - there's been quite a bit of coming and going in major holders as you might expect in the current dash for cash and those who see longer term value here - polar, chelverton and blackrock buying - quilter, M+G selling. 64% of shares held by investors with 3% or more - and quite a few sitting below the declared interest - so likely c.75% of shares in the hands of 20 institutions/funds. 12 month lock for Retting about to expire - they have 50m at 85p - hoping they don't need to cash in any time soon. SB

With todays latest decline SRC is now valued at less than the acquisition of Nordalk (£402m) just over 12 months ago and just a few pence off a 50% share price decline in 9 months. Breedon in the same boat. Lots of bad news assumptions being priced into company. Perhaps time to slow down acquisitions (although fortune does favour....) and start to pay down debt with earnings - we have some chunky loan repayments about to start. SB

EKF just pumped another £2.5m into VRCI - so they now own 5.77% of business - which they have stated will be passed to ekf shareholders as a dividend in specie. And from what I read the VRCI update is good news. Total madness. SB

Can't imagine a more bizarre reaction to a company releasing a positive update about its current cash position. Which raises the question - what exactly is going on here to create the rush to exit? SB

Last amati declared position was 2.24m shares (3.1%) - sitting in their UK small companies fund which is down 14% in 2022 - so expect an RNS. Interesting timing with Q3 results tomorrow. SB

Good point hectordog - although it is possible that there are a number of parties that sit beneath the 'position' - in which case individually they not would trigger a declaration above 3%. Last previous disclosed short position was closed out in 2019 - so perhaps this is a long position with spreadbet acting as the broker? Question is - what has prompted a 14m CFD share trade - normal business aside? SB

Given the positive news at the time of the AGM on current trading, cash in back, overhead reduction - it will be interesting to see if Spreadex have taken a long or short position here - 14m shares declared under a CFD. SB

Just caught up with the renx presentation yesterday - led by James M who came across very well and is clearly focused on communicating all the positive aspects of progress to date. He pretty much makes the case that the company's achievements in its 3 years since being spun out of EKF are market leading - and in some ways ahead of progress given the number of insured lives (10m) which are already covered under insurance reimbursement. Obviously would not commit to the FDA approval timeline - but did reiterate that 2022 was a big year for milestones - so there is a confidence that the second half of the year will produce some major announcements - including the late stage negotiations with pharma partners as noted by andypa. Good to see short positions on the decline; and hopefully this will aid the stock recovery. Lots to look forward to. SB

Thanks for posting andypa - lots of reasons to look forward rather than back over the last six months. Looks like a bit of share interest in the US and UK - would be nice to see a reversal at least in part of the recent hammering experienced here! Still not clear on the large trades which went through about 10 days ago and whether they were linked to short interests. SB

Whilst it is always useful to hear about clinical progress, studies, presentations etc - recent evidence suggests we need to see progress in revenue (testing volume) and of course the FDA approval/strategic partnerships (together with ramping up recently introduced health systems) to see any material impact on share price. Q1 testing volume was c.$0.45m (35 tests a week); Q2 testing volume was c.$0.7m (55 tests a week). Q3 gets announced next Tuesday - would be great to see us moving into the 100+ tests a week territory - and even better if the company can show testing moving beyond Sinai. Appreciate that doesn't appear stellar, but its still important to show quarterly growth which we can use as an indicator in the absence of company guidance.. SB

That's now five transactions of 100K shares or more in the last 12 hours each at £1.47 trade price. 3.5% (2.62m) of the total shares in issue. Not far off our CEO's total holding. Wonder who's in/out. SB

And there's more ShearC. Something defo up based on todays trading. Nasdaq still bobbling around $4 on minor volumes so its doesn't appear cataclysmic ! SB

Question is - is that Millennium et al closing their shorts.....?! SB