Member Info for Silverblade

I would agree on the buying opportunity point chelsea - and increased my holding here a couple of weeks ago. Turns out that wasn't the greatest piece of timing......! We do seem to be overly punished for our link to covid testing and the expectation that that revenues from this sector are in decline - with no support despite ongoing growth in our core business and acceleration into new testing markets. Can't imagine the ADL shareholders will be overly impressed with current performance - their $10m consideration was 100% chares in ekf - which were trading at 80p at the time of purchase - so that's a large dent in the purchase price on paper. Will be interesting to see how they have performed so far - there are some hefty earnout clauses. SB

Problem with growth stocks of this nature mommur is they are all based on a value gamble - if the company can achieve its stated objectives then it has a very bright future. In its short life it has already hit a $1b market valuation only to fall back to its current two year low - although still a decent return if you got in sub £2. It has already achieved a number of key milestones - with the next 12/18 months likely critical in the commercialisation of the business which leads to revenue growth which confirms the business model predictions and unlocks the value in the business. Is £3 the bottom - who really knows (although I hope so...) and until we continue to deliver the key milestones set by the management team we will continue to remain a volatile momentum stock - up and down. I'm optimistic - we have a great core product - but we do need to start showing growth if we want to see an improvement in the share price. ATB and all imo....SB

Its probably not a huge surprise that we are trading around the rights issue price of 85p - but agree there is much to come here - I think we have at least another 2 years of acquisitions and the only negative is there may be further dilutive fund raising which is possibly impacting on price. All good though. SB

possibly the sub 50p trades yesterday finally created a bottom point - there seems to be some support albeit small volumes - and it would be reasonable to expect a move upwards towards the results which should come out end of March '22. What a year to date. SB

You might be onto something there unhooked - although that said it would appear the majority of my current investments also trade in the Ukraine.....sheez who would be an investor eh....SB

Company now formally delisted. Shares removed from trading and ISA accounts as predicted. For those who held on until they turn off the lights - lets hope they can pay the bills and wind the business up as quickly as possible with a minimum of fuss and a maximum of cash! SB

I see it both ways FOTP - the rapid loss in company value in such a short period is not something which should sit well with any investor. We have lost 75% of our market cap in 9 months - more than £600m in shareholder value wiped out. The argument could be that the £1b valuation was completely out of line with actual progress in terms of revenue - but the medicare test price agreement and number of healthcare partner deals boded well for the future hence the growth speculation. Todays non exec RNS referred to the company coming to an " important commercial inflection point" - which we have to assume is a clear indictor that progress is positive behind the scenes - whether this is a nod to higher revenue coming on line, FDA approval, further partner deals or funding - remains to be seen. In the meantime - its painful. SB

'*preceding 12 months'. Getting ahead of myself.....

We are due both a Q2 and H1 2022 update - and should hear this week when results are due but based on previous updates first week in March highly likely. As you say - very low liquidity - £50/100k sales a day regularly knocking off £tens of millions off the market cap. We are also being shorted which doesn't help - introduces fear into the investor community there is something larger at play - funding concerns probably the largest. The whole market is nuts at the moment - fear and uncertainty rule the day. Lets hope for some strong reassurance in March. SB

We have now crashed through 80p, 70p, 60p. 50p......wiping £160m+ from our market value. Our single largest investor alone - Harwood Capital - have taken a near £50m hit - all in the last six months. Our executive directors were all paid significant bonus payments last year (£500K) directly related to the appreciation in share price over the proceeding 12 months. All that and more has now been lost. Ironically the base line price for further bonus payments triggers at 33p so further awards could be made in March 2022 despite the huge loss in shareholder value - accepting this is not all down to the company but at what point does it offer some support - we have £20m in cash - imo now is the time to consider sharebuybacks given the share price hammering of late. SB

andypa - our current fiscal year runs to 30th June 2022. Q1 (July - Sept '21) reported $0.5m revenue - which is highly likely to be attributable to our Mount Sinai programme - and equates to just over 500 tests being undertaken in Q1. MS has a target run rate of 300 tests per week - however there is a current aim to deliver 6000 tests in the current fiscal year (with an indication this may increase to 10,000). It is unclear as to the test rates from our partnerships with University of Utah, Atrium Health, Wake Forest Baptist Health, Capital District Physicians' Health Plan and the latest in 2022 - Singing River. I would like to see H1 2022 (July - Dec '21) revenue of at least $1m which would show a doubling of tests being delivered in the period; with a further acceleration into H2 2022 towards the MS 300 per week target with other systems coming on line - so the second half of the year should see a decent hike in revenue - but this is clearly all predicated on the ability to increase testing - and we need evidence from our Q2 update on how this is proceeding. IF we can achieve 6,000 tests - we are looking at c.$6m full year revenue - plus what ever else we can achieve from the rest. It is also important to look at our cost base - $12m per quarter is high - although there were a number of one off costs in Q1 so that should come down a bit. That all said - it is likely FDA approval would provide the market with much greater reassurance at this stage than revenue - which is not entirely logical...buts the the market. SB

I'm with the Italian on this one - the company is focused on acquiring and integrating construction material businesses into its various trading platforms and as such its short term plans are relatively transparent - use cash and debt to fund acquisitions and growth. I don't see a dividend here for at least 2/3 years. What we should note is the LTIP incentives due in 2024 - the majority of which max out at 8p eps - and achieving that number will make our senior management team a lot of cash - so there's a clear focus on driving earnings growth in the next 24 months. SB

Trading updates are generally considered in the category of 'good practice' and as such do not require prior market notification - unlike H1 or full year results for which definitive release timings are issued the market. To that extent I expect IR are probably just not in a position to provide feedback - and the business had the Johnston acquisition to finalise and start to integrate. I would be surprised if we do not hear from the company in the next week or so on what is likely to have been a strong 2021 laying the foundations for a £500m revenue business in 2022 and a 20% EBITDA - which will hopefully be the catalyst for a decent re-rate of the current share price. SB

We are now trading at a significant discount to our NAV; whilst our peers group (HICl and INPP) are trading at a 10% premium to NAV. I think the historic 'exposure' to power prices in the portfolio make some nervous....but surely that's a benefit in the current market (albeit we have hedged some pricing) and our role as a green investor surely has value. The sustainability of the 7p divi and how it is covered is always a bit of an issue - but nothing new there. I'm still buying - 7% yield territory. SB

Greenhat - I would hope that the final pay-out may be a bit quicker but yes end of year worst case sounds ok. If your shares are in an ISA or normal trading account your broker will endeavour to provide a paper certificate for your holding - and in the case of the ISA holding those shares will no longer qualify for the associated tax benefits. Not heard anything else to the contrary. Meanwhile - mmx is my only blue share today.....SB

Since Sept '21 the company has lost 1/3 of its market value. We have been hit with a likely background seller, director sales (c.80p - good call...), anticipated slowdown in covid testing business, general re-rate of bio tech sector and the looming crisis in the former USSR states. Against that - I have seen nothing from either of our brokers (Investec or Singer) to offer some price support - we should be reporting 4p eps in the next month or so for 2021 and our current PE for a growing company with a clear strategy and investment plan is way too low imo. Our brokers should be doing more to promote the business and provide some forward guidance. SB

I would agree - the 10 days appear to relate to the period prior to the options being granted ie that was how the options price of c.63p was calculated. Good spot. Based on where we are the only realistic chance of getting to that price by Dec is a takeover imo. SB

Great outcome rgm - I hope this allowed a decent overall exit. Best of luck in the future - and all those who were part of the mmx club. SB

All - FYI this is the Corporate Action update information I received from my broker

" As the shares will no longer be trading on a supported stock exchange you may choose to sell your holding prior to our last day of trading listed above or transfer your holding to another broker. If you do not wish to sell or transfer, following the delisting we will endeavour to provide you with a share certificate in relation to your holding, should one be issued by the company in the future.

ISA Customers
Due to restrictions imposed on ISA accounts, unlisted shares are not considered a qualifying investment. Certificates received in respect of ISA accounts will no longer be held within the tax efficient wrapper so will lose any tax benefits."

So - for those who choose to remain invested - looks like we will receive good old paper share certificates for any remaining holding in the company in due course - and presumably will redeem those certificates when the company is formally wound up later this year as the remaining cash in the business at that time is distributed. SB

Its not just ekf - the whole bio tech market has taken a battering over the last quarter - started late 2021 and has accelerated into 2022. Completely indiscriminate - start ups through to heavyweight pharma - no one is safe. EKF is investing in its business through both internal investment and acquisitions, is cash generate despite its investment programme, has plenty cash in bank, has double digit growth and growing EBITDA and PBT - and still gets hammered. As I said - its a sector wide downgrade - not that it makes it any easier to bear.....at some point it will be oversold - lets hope that happens PDQ. SB