The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Over many years ‘optimists’, often implying they had deep insight or an inside track to the board room have for what ever reason portrayed an erroneous picture. Hopefully not too many took notice of their posts. But like all long term retail stockholders I take no pleasure in the fact that at every turn they got it wrong! C’est la vie.
Nothing personal Sajy.
As a LT stock holder, I’ve watched the stock price consistently fall, I’ve also noticed that most posters were, what I would call optimists; less polite individuals may call it ramping.
Rarely has there been a dissenting voice on this board, such that any new reader may get a distorted view of prospects and may be unduly influenced as a result to buy.
I take no pleasure in my contra/balancing views having been in the main right as I too will lose my shirt! I appreciate it may be unwelcome and will leave it at that; particularly as we can’t get much lower. Your filter will therefore be unnecessary.
Sajy, are you suggesting that Mr Ross and his board are hiding data that may affect the share price?
My limited understanding of UK law is that to raise funds, Rene must in return meet a number of transparency obligations: particularly making public significant information liable to impact the share price. But of course you may have an inside track to Mr Ross’ office.
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Thanks for the update LW and for keeping us in the loop.
Welcome back Fred. There’s been successor optimists but none with your dispositional level, altho with similar levels of prophetic skills. Since you left we’ve also lost your nemesis, Purpleachy, so will your return result in Purps resurrection too?
I’m sure the optimists will give you a heads up, and Purp, if he/she is around will no doubt provide appropriate checks and balances.
Your return will also no doubt once again raise the question, has Fred and Mr Woodford ever been seen in the same room together 😀Anyway good to hear from you. Good luck if you ultimately invest. There’s a lot of us with fingers and everything else crossed.
LW did you get a response to your email about the conference ‘no-show’? I was wondering whether Mr Ross had run out of petty-cash for the airfare or he didn’t want to be embarrassed by questions on going belly-up, or conversely whether there’s a bailout in play?
That’s what normally happens, although Mr Ross failed to get one away late last year. In recent times, retail stockholders have been offered rights issue crumbs; although thank goodness for that as my losses would be even greater!
As some stock up on Bud for the weekend by selling small Rene tranches, others, as we await Mr Ross’ response to LW’s email, may be conjugating variables of what the no-show could mean? But having ruminated on potential conspiracy theories, it’s probably as simple as we couldn’t afford the airline ticket!
Mr Ross, under the corporate risk of going ‘belly-up’ suggests in the Annual Report a mitigation that the Board places considerable emphasis on communication with stockholders. Given there’s still buyers out there, relying on goodness knows what, I’m not sure we should give him or his board any benefit of the doubt.
For those with an open line to Mr Ross, what’s the score on the conference non-attendance, which Grizzly has highlighted?
I agree with you LW, that we’re shooting in the dark and whether it’s twenty or ten cents is not going to make a tangible difference to many of us. Personally I’m not sure what success can look like pre-clinical with a six months timeline so I’m not bought into the rabbits and hats argument but on the other hand if Mr Ross creates an auction then the acquisition premium no longer applies. Let’s therefore hope that more than one bidder likes it …….. actually let’s hope someone likes it.
Historical purchase premium on acquisitions are in the range of 10-50% over market trading value. Let’s be optimistic and say trading value is ten cents and purchase premium is 40% ie the acquirer would pay 14 pennies. You right LW I certainly wouldn’t wash my face but hopefully others will. C’est la vie.
Looking at yesterday’s sale data, someone clearly needed five bucks to buy some Bud! But to Steve’s point about April being when we get put out of our misery, does anyone have a more exact date? Clearly the closer to the edge and the higher the desperation, the weaker Mr Ross’s hand. Given there’s only the janitor left has it any value as a going concern? Potential buyers who know and who work with the technology under agreement may think they’ll get a better deal on assets from an appointed administrator. But who knows?
Wink, buying penny stocks is much more akin to playing the lotto or spinning the roulette wheel than it is to investing. Whilst on this board, as there is in Vegas there’s fancy strategies posted the house aka the executive in this case, who’ve been paid for the ride, always wins. Nonetheless like rolling the ball or playing the lotto we hope to be lucky, but I’m not quite sure thats investing.
Someone bought 95 for ten bucks. Was that the kid’s allowance LW?
About 90% plus of biotech start-ups fail during clinical trials so there’s little that’s unusual about Reneuron. But yes poor leadership and poor cash management can and possibly has contributed to failure but equally good science can and does fail. Of course many of us, me included, hoped we and Reneuron would be on the right side of that curve where rewards would be eye-watering, however when I joined the ride too many years ago to remember, I knew that probability suggested I’d end up 100% down! Nonetheless it’s good to hear that some think even now there’s a British knight in shining armour out there. If one should happen to ride in, the question I suppose is, by how much will we then still be down? But fingers crossed as they say.
Once ‘ topping up’ was a frequently used term on this board, only to be replaced by ‘averaging down’. As Sajy implies, if there’s sufficient rebound it enhances gains, if there isn’t, averaging down only magnifies losses. Hopefully, although not guaranteed, it’s the former.
Thank you Laz for the local insight. Yep, the exec blew the best part of 150m of other people’s money; every development was linear and every phase test late. It seems Mr Ross saw that albeit he’s left with pocket change to make a difference. Will others bail him out or instead reap the benefits of a liquidator’s fire sale? If I was on the other side of the fence the latter may sound attractive, but as I’ve only the cuff button of the shirt I’ve lost left it’s in many senses academic although nonetheless entertaining.
I guess, given Thursday is happening Rene is still deemed a going concern. If correct that seems to indicate the erstwhile Mr Ross is not going to liquidate or cease trading, certainly anytime soon, which may even suggest us budding alchemists, astrologers, and delusionists will be in work for a while longer too - yeah.