Member Info for The_Paladin

"IQ-AI is pleased to announce the appointment of Dr. Al Musella, MD, as a Non-Executive Director. Dr. Musella brings almost three decades of experience as founder and president of the Musella Foundation for Brain Tumor Research and Information, Inc."

https://virtualtrials.org/musella.cfm

"His current efforts include lobbying for the "Promising Pathway Act," legislation that accelerates the clinical trial approval process in order to move new drugs to market more efficiently."

There is an opportunity for Synairgen to re-establish some investor trust with the announcement of their trial protocols and funding.

It has been a painful 33 months for most investors. Many of us remained invested when TFG increased their shareholding not long following the Sprinter announcement. That proved to be the only time that we saw a genuine share price increase due to investor interest since February 2022. That proved to be short lived.

Since then it has been a period of continuous decline. The company has spent most of the residue of the Sprinter capital, and only now do we seem to back on track, apparently with a credible funded trial on the horizon?

I cannot criticise investors who harbour distrust and doubt prior to the anticipated announcement. Many of us remained on board due to the show of confidence from TFG many moons ago. Whether this investment reaches a successful endpoint remains to be seen? As jonnyboy33 stated earlier, we will know for definite very soon!

Fnv.

Unfortunately, I wasn’t able to attend the AGM.

However, from the excellent feedback received from Wigster77, Doc83, jint and others, Mr. Colliver did contribute on occasions to provide clarification on specific issues.

I do not see the relevance of your question to my previous comments? For clarity, my sources are the information provided by recent RNS statements, and the detailed AGM feedback kindly shared on this forum.

Unfortunately, it would appear that the prime suspects are still playing games with the share price, presumably as a means of achieving subsequent personal gain? As a serious investor, I wish that the company could dispense with the services of the chief perpetrator!

It did seem that IQ-AI/ IB was gaining traction just a year ago. As always, we were deceived by a selfish and self-serving group of individuals, who do not appear to have the best needs of the company at the forefront of their intentions. The recent promising RNS has yielded zero value whatsoever for investors.

The most recent information from Synairgen suggests that the trial finance is in place, and that details are being finalised? Until we receive that information, within the next month, we can but speculate on the source, how the arrangement will affect long-term shareholders, and the involvement of retail investors in the overall package? The CEO states that he wants shareholders to judge his competence on the overall trial planning and financing. The former Chairman exuded confidence in his comments, and it appears that our CMO will have a major part to play.

I am discounting US Government involvement for the time being. They achieved promising results from their SNG001 Activ-2 trial a few years ago, but have chosen not to participate further? Who knows what we will learn in just a few weeks? There are reasons for some optimism.

My own view is that there is still a long journey ahead, and that a successful P2 trial outcome is necessary before the company is back on track.

Thank you for providing clarification WiltsInvestor.

The information is there, as you say, on page 21 of the last Annual Report. The options that were converted into shares yesterday were those granted on 5 April 2018, and 4 April 2019.

Mr. Ward's other options totalling 1,355,167 granted annually, between between 18 June 2020 and 21 June 2023, in four separate amounts had apparently all "lapsed during the year".

I researched about the latter, and am still confused about the lapsing of the EMI options in Mr Ward's case?

Like others, I take the fact that a former company CFO exercised his options as a positive development. Should the next trials succeed, he will achieve a huge increase from a relatively modest investment.

Two things occurred to me:

1. The ex employee might be Richard Hennings? His declared number of options given on the Synairgen website fell just short of the number listed in this evening’s RNS, although we know that the website information isn’t always updated. It could also be John Ward, whose share options are well in excess of the number exercised.

https://www.synairgen.com/media/grant-of-options-7

2. The ex-employee must have satisfied threshold conditions in order to qualify for the right to exercise these options. I am puzzled that these conditions have been satisfied as nothing of value has emerged from the company’s actions in 32 months? I accept that when we are told about the fine detail of the forthcoming trial, and its financing, the intrinsic value of various employees’ contributions may become clearer?

Thank you for reminding me Tyke68,

I had forgotten about Howdlep’s comment.

I remain positive about IB’s enormous potential especially because of the positivity that always emanates from the actions of MS, KS, and others who work for IB.

However , the “non IB” execs are a bit like J.K. Rowling’s Dementors this year. They have succeeded in removing all the hope and happiness that existed with IQ-AI investors at the start of 2024. Like Trek, I saw this investment’s moonshot potential.

Perhaps a recovery will come about? Before this happens the CEO and other non IB execs will need to play a major part in promoting the company and attracting investment if required for future trialling?

ATB to you and all IQ-AI investors.

Is the share price being gently walked down to lower levels so that further measures may be applied by the usual suspects?

I am most probably wrong but have so much mistrust in this company and its executives that nothing would surprise me?

I still believe in IB’s future potential. Unfortunately the share price action during the past year has substantially reduced my trust in the executives, who sent out a negative message to the market through selling vast quantities of shares. This happened at a time when IB were doing their utmost to provide positive input concerning their products and ongoing trial.

It is difficult to perceive what the future holds at the present time? IQ-AI really do need to take positive measures to improve the market’s perception of the company.

Dmac1966 - sorry.

DMac19666.

“I personally saw the Phase 1 results as ok not stellar, excellent tolerance, ok efficacy?”

Whereas I respect your sober contribution on our overall position, I believe that the primary purpose of a Phase I trial is to establish tolerance to the trialled product? The Phase II trials which follow will be carefully designed to confirm its efficacy. If this leads to a Phase III trial, a definitive confirmation of the latter will be sought in a larger and more extensive trial.

semantic.

I also respect your contributions, in particular your reasoned response to one of my pieces, which are heavily biased against our CEO’s actions this year. Many of us suspect, based on your comments, that you are closely connected to IQ-AI? It is your right not to reply to these assertions. However, I would expect you to be in total agreement with any contribution that supports your point of view. This has proven to be the case in your last comment.

Unfortunately, the last two contributions sum up our current predicament precisely.

It is as if IB and IQ-AI are two vey different companies.

The former has very industrious employees working hard to continuously develop its products and trials, to produce essential and valuable end products.

IQ-AI gives the impression of being totally disassociated from IB. Its central purpose appears to be to increase the wealth of a small number of individuals through selling shares without any regard as to the damage it has done to the company and its employees and shareholders?

I would be incandescently furious if I was one of the hardworking employees at Imaging Biometrics. All that effort only to observe IB’s parent company adopting an unsupportive agenda designed to increase the personal wealth of a few individuals?

Good luck all.

This company has become a stock trading vehicle with share prices oscillating about a very low level?

Is there anything actually happening behind the scenes? At the AGM, the Chairman and CEO led us to believe that there was furious additional effort going on outside normal working hours in order to get the platform fully functional? The other execs came across as competent though nervous in presenting their comments.

The truth will finally emerge. As previously stated, the current trading pattern and low share price is not a good look!

Good luck all.

“it's likely everyone had a substantial pay and bonus increase after the success of SG016 in 2020. And they've all somehow hung onto them in the years since.”

Summed up in a nutshell Doc.D. It is now time for the remaining executives, who command these salaries, to demonstrate their worth to the company.

Serious errors have been made along the way. Were Dr. Monk, and Jody Brookes in charge of the P3 trial? I was surprised to learn from the last AGM that clinical trials that Dr. Monk’s specialism was drug development and not clinical trials.

The past is a different country. Richard Marsden has asked us to judge his performance on what imminently comes to the fore. I am prepared to do this. With a new Chairman, and a highly respected CMO, with considerable experience, on board there is an improved possibility of future trial success. If this happens then Richard Marsden may even re establish his Pixar superhero status?

Good luck all.

“…. the highest ever paid CEO of an AIM company that has never successfully brought a product to market.”

What were the sources of that information? It must have taken a considerable amount of research to produce that statement ?

My lazier broad brush approach has established that “the median salary for CEOs in 2023 was £363,100 - an increase of 5.4% per annum over the past three years, and an uplift of 4.9% from 2022 when the median salary was £346,000.”

( BDO AIM 100 Directors’ Remuneration Report 2024.)

https://www.bdo.co.uk/getmedia/77317e29-8c3e-4e0b-b5af-f063a4b17829/BDO-AIM-100-Directors-Remuneration-Report-2024.pdf

( You may have to register on the BDO website to access the full report, which contains the results of detailed research that I found interesting to read.)

Back to Synairgen, I am intrigued by Richard Marsden’s comment at the recent AGM, in which he asks investors to judge his performance in the context of the forthcoming trial strategy and its funding. I have judged his performance very harshly in recent years on the basis that the company’s MCap has been in a state of continuous declinine, with nothing of value established to reverse it.

I doubt that whatever follows will be funding based on the cash raise required to fund a respectably sized P2 trial? I am expecting a more sophisticated arrangement, but cannot comment further without receiving more information than is currently available.

Good luck all.

The major shareholders section of the IQ-AI website is now up to date. Although I realise that we are not an AIM company, I am invariably irritated by the lack of attention given to websites in that sector. Especially so, as it takes relatively little effort to update a website.

The frequent investor information supplied by MS is rare for a small company. He and his wife are a credit to IB. Both set very high standards in their work. This should be the case with all companies. Sadly it is not.

Despite our CEO’s latest manoeuvres in selling his shares and those of his familial co-investors to Braveheart, I have remained invested. There will undoubtedly be more benefit coming his way as a result? We await his next move whatever that brings?

As an investor, I remain focused on the final destination. Meanwhile I continue to tolerate the continued battering that my shareholding has received this year. If only our CEO would concentrate on growing the company, in addition to his own personal fortune?

I have a question about the voting process at the recent AGM.

The total number of votes for each resolution was

66,991,809. Is it the case that investors have one vote per share held?

The total number of shares in issue is 201.37m. This means that if it is a case of a single vote per share, the percentage vote recorded was approximately 33.27%?

The Synairgen website informs us that:

“In so far as the Company is aware, the percentage of the Company’s issued share capital that is not in public hands is 30.7%, which comprises the holding of TFG Asset Management UK LLP (formerly Polygon Global Partners LLP) and the directors’ beneficial holdings of 2.5%”

The above implies that the voting turnout from shares in public hands was very low indeed? Or have I totally misunderstood the voting process?

Thank you TommyD_19,

An interesting, and importantly for me, accessible study. I can fully understand it, and so will most investors, if they have the time to read it?

Reading this study is a better use of my time than hypothesising around Synairgen’s trial funding. I don’t have a clue about that, and neither does any other investor until it is announced?

When the details of the MV trial emerge, it will at least give me a head start in trying to understand what the trial is aiming to achieve?

It has taken a long time for the company to reach this stage. Should the trial go ahead, it should have a better chance of success than might have been the case a few years ago IMHO. The recent additions to the Synairgen team - Mankowski, Culliver, and Parry-Billings have relevant skills sets and experience to ensure that past mistakes are not repeated.

Good luck all.

I have just read the latest update from Imaging Biometrics published in September 2024. It is always a pleasure to read about medical scientists who are working towards identifying and treating conditions that blight the lives of so many people.

https://www.imagingbiometrics.com/wpib/wp-content/uploads/2024/09/IB_newsletter_September_2024_Master_9.12v2.pdf

It is unfortunate that this was preceded by reading the RNSs that consolidated the renounciation of share ownership in IQAI by our CEO and his familial business partners. Their priorities are clearly widely divergent from those of IB personnel.

It might be advantageous to the company should Trevor Brown renounce his association with IQ-AI altogether? Surely, it is possible to find a replacement CEO, whose interest lies in promoting measures to grow and develop the company? This shouldn't be too difficult to achieve when one considers the considerable achievements of the IB team to date, and their current ambitions for the company?

I am grateful for the conversation on this forum recently, during which insights and opinions were added to the outstanding feedback from the AGM.

There is little for me to to comment upon until we receive the promised substantial update before the end of the year.

My view about the funding arrangements is simplistic.

* My investment in Synairgen, which started in August 2020, has a purchase price, and average purchase price per share.

* I am happy that the company is “back in business”, and that the Board and Executives are more positive and optimistic in their language.

* There is little point in speculating on the trial funding plan until we receive the details from Synairgen.

* As an investor, the only numbers that interest me are the share price, when I eventually sell my holding in relation to the average price at which I purchased my shares.

* Having impatiently waited without taking action for nearly 32 months, I intend to remain invested for an indefinite period. I may or may not buy more shares once I have further information, and can take advice regarding the risk v reward aspect.

The outlook here is far better than it was a week ago, although I appreciate that some investors are having grave doubts about the funding arrangements? In particular how they will affect investors who bought the bulk of their shares at the time that the share price was close to £2 per share?

I should receive my answers by the end of 2024, and look forward to that very important RNS whenever it appears.

Good luck all.