Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I suppose the response of the customers including By-health of their need for ff over the coming 12 months could be crucial to how much we need to raise , if By-health are ready to launch the demand could be far more than what DSM hold so another production run will be needed and that will cost a lot more than the €200k to pay for existing stock .So the next few weeks could be crucial to the future of Pxs ,let’s hope it’s good news and the sp will respond accordingly .
Ok fair enough , I think we are all a bit peeved with the time it’s taking and it is true that carrot dangling seems to be part of IFs strategy , also keep in mind that they have to raise funding of some sort ! so a low sp at the moment might make that easier . I hope we get the update soon on the way they intend to raise that money (or not) my preference is that the new income is enough to cover the €205k needed .
“Capital structure and funding update
The Company remains keen to minimise dilution to shareholders and remains focussed on moving into profitability as its revenues from Fruitflow increase.”. It seems to me that maybe SL might of objected to more dilution ,and who could blame him .imo
Interesting that this write up also points out that” renewed interest from a truly global “. Provexis PLC - Reading, England-based producer of heart-health functional food ingredient Fruitflow - Updates on its capital structure and funding. Expects the group will need to raise further equity finance, or potentially new loan finance, in the coming months. Based on success of previous fund raising and the current performance of the business, continues to have a reasonable expectation of raising sufficient additional equity capital or new loan finance. Highlights renewed interest for Fruitflow. Committed to buy more than GBP550,000 of inventory from DSM. In direct contact with more than 50 actual and prospective Fruitflow customers and is seeking to ascertain the likely demand for the next 12 months and beyond, with particular regard to the best before dates of DSM's remaining inventory. In talks with DSM regarding extending initial inventory handover period. In talks with third party who may be able to hold inventory on a consignment basis.
I like this bit ......”These announcements have helped to generate renewed interest from prospective customers for Fruitflow which are part of truly global businesses.”. Note the “renewed interest”. Now which truly global players had a lot of interest 10 or more years ago !!!
As I read it pxs legally only have to buy another €200k from DSM and the rest is subject to testing to see if the best before dates can be extended, no one really selling this morning just Mms playing silly buggers again .
Dr I’m not sure we will make a profit for 22/23 , if the AA agreement was a 60/40 split in Dsm’s favour then our £97k cut would mean dsm took £145500 , if this has continued into H2 total income would only be £485k not enough to put us into profit . Of course a lot of ifs there !my feeling is that it was 80/20 split in favour of DSM which would give us a small profit ,in which case an Rns should be on its way soon ,and of things might have improved in H2 with lockdowns coming to an end ,and the ff+ income would be on top of that so hopefully another £160k to add , this is just my opinion and as you know I could be talking out of my backside again but we can all dream a bit it’s been so long coming
Nice rise today.
That’s 3 months tomorrow of full trading under the new agreement . I was trying to work out roughly what the new turnover will be and what profit we can expect (Materially ahead of where it would have been ) but as we don’t know what the split was under the old AA and what the new percentage that DSM will be taking I would say it’s almost impossible to work out , we need some guidance from management ASAP. It did occur to me that the less our % was under the old scheme the better it will be for us. Imho
Suddenly they acknowledge we exist again , https://www.dsm.com/human-nutrition/en/search-results.html?mcvid=33305646061090733312830511365674627643&query=Fruitflow&languageCode=en&siteName=human-nutrition