Member Info for Sir_Lostalot

Here comes the replacement RNS. F***ing useless!

I expect Anne who probably only checks her inbox a couple of times a day for Lab progress signed off the wording of the RNS without reading it.
Probably the reason no figures are disclosed for Oxilio deal is that the 'significant' upfront payment of £1,000,000 she signed turned out to be an embarrassing £10,000. Oops!

Haven't they even published the price wrong! Is it not 1.35p or £0.0135?

RNS from 25th Sep 2020:
Should Oxilio exercise the option, Nuformix will licence its patent estate and know-how on NXP001 in return for a significant upfront payment and additional development milestones and a royalty on net sales, capped at £2 million per annum.
Although Nuformix said they would they would not disclose the sum any deviation from 'significant' would surely have to be reported?
I'd be interested in peoples interpretation of significant but surely couldn't be significant if under £1m.

OXL002 has better not be NXP002. That would be really lazy giving it away to Oxilio who are a tiny company with no real money.

Airbus?

How do we know Dan still holds? We know for sure he takes no notice of rules because he hasn't updated his percentage from the fund raise. We saw Jo update hers. A previous Director didn't bother to notify a sale for ages. Dan had to deal with this so you would think he would comply but he hasn't.

Resolution 1 looks like the one to vote 'Against'.
You could vote 'For' to Resolutions 2 through 10 I think.

VOTE NO. On principle. May lose £200 but as already lost £3k. Maybe they will revise offer but maybe not. Better that new investors feel the pain as well.

The idea that suddenly sellers will be out is simplistic. Some people buying at this ridiculous low price will be happy to make 33% and will become sellers at 20p. So anyone buying all along the relentless slide from 45p is out of luck.

Simms arrived in October 2019, January 2020 the business encountered manual demotion by Google of 160 of its websites. They promised to sort this out, and as time went by gave a deadline for end of the 2020. The reality is they failed to address this as a priority because they are much more interested in buying things.
Some of the new and larger sites have been resubmitted to Google, which has accepted three of them and Google has reinstated their rankings. There's very little addressing this or any apologies or contrition. I'm amazed they get away with this without writers and analysts holding them to account .

Why are warrants for existing shareholders priced at 30p when everyone new get new shares at 20p? I find this the most insulting and will VOTE NO. Also time limited. Medical companies take years to generate value. I may lose the chance for £200 but PRINCIPLES have to come first!

I can't see warrants with a right to buy would be much. At 29p people would buy the share. Is there a way to calculate worth of a warrant? If you thought shares would go to 40p breakeven would be worth buying 3 warrants at 6p versus 1 share at 29p.
(3x 30p) +(3x 6p) =108p for 120p of shares. Versus 40p -29p =11p profit.

But the shares are sold to new investors at 20p. So how likely that they get to £1,13p in 180 days?
Not sure if I understand. New shareholders pay 20p a share and old shareholders have a right to buy 1 share for each 440 held at the price of 30p. 50% higher than new investors? If the price never goes above 30p warrants are worthless!

Joanne not the inhalation specialist.

Dr Anne Brindley, Chief Executive Officer
– Over 30 years in Big Pharma and Biotech (GSK, AZ, J&J/Respivert, Skyepharma,
Advent/AuroScience) with extensive expertise in respiratory and oncology R&D,
and business development including in / out-licensing and M&A including
company sale.
– Key role in successful inhaled products – Symbicort® (AZ) and flutiform®
(Skyepharma).
– Extensive expertise in R&D in respiratory and oncology therapy areas - for
innovator and generic products
– Former CEO Advent Pharmaceuticals Pty Ltd/ AuroScience Pty Ltd (Australia)
with successful sale of the business
Dr Joanne Holland, Chief Scientific Officer
– Over 18 years’ experience in R&D, IP & commercial roles within the
pharmaceutical Industry.
– Expert in pharmaceutical solid forms, co-crystals, process R&D and drug
reprofiling (Millennium, Stylacats). Leader in novel physical forms / cocrystal
technology

NXP001 Oxilio News would be welcome. Do they have to give details though?
NXP002 may well take upto 18 months before news, hence the new chairmans statement. Again from the Allenby report:
NFX DCF valuation of 9p per share post funding
Our DCF valuation of NFX includes only NXP002 at this stage. Using a 13% WACC gives a
risk adjusted valuation of £52.8m, equivalent to 9 pence per share, and this assumes that
a Phase I ready package for NXP002 is in place. Subject to financing, NFX anticipates that
this milestone could be achieved within the next 18 months, but with multiple
opportunities for licensing NXP002 prior to this.

I don't know why people expect news.
From Allenby Capital Report in Mar 2021
NFX will
apply its extensive expertise in inhaled therapies to advance the programme to the next
inflection point in six-to nine months’ time and, if the planned preclinical studies support
its earlier promise, seek licensing partners thereafter.

Of course it matters where the price is! The 15% dilution comes at 20% discount to the reigning price and as everyone knows it will be cheaper at the point of raise there is constant selling!
We were told there was no need to raise. Every other raise has been an insult to existing shareholders because each time it's a lower price. This should have become self funding by growing value and selling a proportion of most productive holding.

When the company intimated it foresaw no need to raise money this year and let the resolution to issue new shares go confidence was finally restored. They only need one exit to fund everything else.
But no! A special meeting to give permission to raise 15% when ever they want, and we all know they raise whatever the price has slipped to. Why would anyone hold? Wait for the raise and buy when the price drops back towards the 20% kick in the teeth for the unfortunates in this pass the parcel. There's big value here but everyone knows there will be a chance to buy back in cheaper.

Of course a serious buyer could also be picking up all the big sells as well. What better time to build a stake when all the owners from the 2p fund raise are flogging for a quick profit.