Member Info for Toyin

Thanks Aquae, much appreciated.

Shy, I wouldn't be so quick to judge.

All figures are approx, but I wont be far out. The only outlet I have no data on is Amazon, but I would suggest that will be pretty flat, it's been on “50+ bought in past month" since mid 2025.

HY25 online orders were 3763 total sales.

HY26 online orders were 3985 total sales.

£39k difference between HY 25&26. 222 extra boxes (online sales) in HY26 = £6600 (@ £30 a box). So we have an extra £32,400 that has come from elsewhere in HY26 and don't forget, margin from SD will be a lot less.

I think sales at SD actually kicked off late Oct online, I cant remember when it was in store, I know the rns 6/10 stated "Superdrug has informed SkinBioTherapeutics of its intention to launch the first tranche of product in stores.” But when it actually got them in all 188 is anybodies guess.

Aspex, a few of my notes below.

At Croda, we believe that smart science can shape a more sustainable and innovative future for beauty and wellbeing. Today, we’re pleased to showcase the incredible work of our Croda Beauty team, whose passion and expertise have led to the creation of Zenakine™, a pioneering biotech active that supports skin wellness by helping the skin respond to stress and restore balance. As a fully biodegradable product, developed from renewable feedstocks, it represents how innovation and sustainability work hand in hand. As Susanna Casas, Managing Director, Sales & Customer Service, explains: “Zenakine exemplifies our strategy to deliver differentiated, science-led solutions in high-growth markets. It strengthens our premium beauty actives portfolio and reflects our commitment to innovation, efficacy and sustainability at its core.” We’re proud of our people and the role they play in redefining beauty through science, and we’re excited to see how their work will inspire the next generation of beauty solutions.

Zenakine™, an innovative neurocosmetic ingredient developed by SkinBioTherapeutics in partnership with Croda Beauty, has gained rapid industry recognition for its stress-busting and sleep-enhancing efficacy.

Zenakine has been distinguished with the following major industry awards and accolades:

Top 10 Global Choice Award (2025): Awarded by Covalo at in-cosmetics Asia, recognising its outstanding innovation in the personal care and beauty market.

Cosmetics Business Innovation Awards (2025): Shortlisted in the Testing, Safety & Efficacy Innovation category for its cutting-edge approach to counteracting stress on the skin.

C&T Allē Awards (2026): Named as a finalist by Cosmetics & Toiletries, which honours the pinnacle of creativity and scientific vision in cosmetics R&D.

The following from Croda’s AR25

"Zenakine, an active which enhances skin’s resistance to physical and emotional stress, thereby reducing skin fatigue and premature ageing, with customer launches in Europe and Asia."

"NatrineoTM CR8*, KeraBioTMK31 and ZenakineTM* are all examples of our latest award winning innovation, with strong sustainability credentials such as 100% natural content, lower GHG emissions, biodegradability, more sustainable sourcing or produced via biotechnology. They have been well received by our customers and the wider market."

"Launched a number of innovative products including Kerabio, Natrineo CR8, Zenakine, Squalene and Poloxamer, resulting in strong interest from our customers."

Aspex, I would have loved more information on Zenakine but I don't think now is the time. After what Ashman did I don't think it would be wise to say anything Croda may not like, frustrating, but totally understandable.

Net, "We cant have another raise as it will take the Dixons over 30%"

No it wouldn’t, he would go the other way (dilution), unless he took part in the placing, then he would have the possibility to get to 29.99% if he so wishes. If you issue more shares your existing % goes down not up!

Net, its crystal clear. I shall spell it out for you.

"Licensing income (or licensing revenue) is money a company or individual earns by granting another party the right to use their intellectual property (IP)—such as patents, trademarks, copyrights, or brand names—in exchange for a fee or royalty."

Regards the amount, that's a whole different question. But look at it this way, Croda have probably spent to date, approx €10m and six years of time, I think its safe to say it wont be 5p!

Net,

Turning now to HY26 for the six months to 31 December 2025, total revenue was up 37.4% to £2.17m, excluding intercompany revenue, (HY25: £1.58m) which reflected a full six months of trading from BTS, product sales from AxisBiotix and Dermatonics, and initial licensing income.

What do you think "licensing income" is?

Super, have a read. Notice revenues are being recognised, not will be recognised.

The commercial arrangement with Croda has continued to operate in accordance with the terms of the signed agreement throughout the period. We are pleased to note Zenakine's awarded a 'Novelty Merit' at the prestigious 2026 C&T Allē beauty awards in the Base Ingredient: Wellness category and its mention in Croda's full year results. Royalty revenues are being recognised by the Group as confirmed sales data is received.

Rebarm, you make some very valid observations. I know in the months and years ahead we will see how poorly the company has been run.

Yes, it certainly is frustrating but its just a case of sitting back and waiting.

The fact is, the co has said its business as usual, the FRP investigation ended late April and the co have said they will be recovering some of the costs. Zenakine is gaining traction, to what degree we shall have to wait and see.

I shall judge the new management when the rns comes out, I have no idea what manner of shyte they have had to deal with and I certainly give zero credence to anything Ashman has said since the investigation began. What I will say is I have had several email exchanges since suspension and they have been very accommodating.

GLA

Thank you all for the kind comments.

Yes rebarm, fingers crossed the worst has passed and we can look forward with some cautious optimism.

Https://www.instagram.com/p/DY6_4I_j7wZ/

Apologies Aquae, I shall improve on my thread skills😉

Https://cosmeticsbusiness.com/natural-spa-factory-announces-new-wellbeing-treatment

Neuroactive enzyme

Modern cosmetology is reaching a new level, considering the skin not as an isolated organ, but as part of a complex system, closely related to the nervous and endocrine systems. This review presents the innovative ingredient ZenakineTM from Croda, the first in the industry to correct the consequences of circadian skin rhythm disturbances [8, 9]. Based on the biotechnologically obtained Lactobacillus Ferment Lysate, it stimulates the production of melatonin in the skin, which is clinically proven, improves sleep quality and triggers the processes of night regeneration, providing a complex anti-aging and calming effect. The mechanism of action is to stimulate the production of melatonin, which is a powerful antioxidant and the main regulator of circadian rhythms. By improving the quality of sleep at the systemic level, the ingredient indirectly enhances the skin’s ability to recover.

Studies demonstrate the multifunctionality of the ingredient: it increases the elasticity of the skin, reduces the depth of wrinkles, effectively reduces the visibility of redness, increases the resistance of the skin to aggressive environmental factors (cold, UV radiation, pollution), and also helps to restore and strengthen the protective barrier. To date, this is the first ingredient that not only cares for the skin, but also, improving the quality of sleep, provides its deep complex recovery. Its appearance opens new horizons for the creation of high-performance cosmetics, acting in harmony with the natural biorhythms of a person.

https://mdpress.ru/articles/kosmetika-budushchego/

Neither had I! Thanks for that Aquae.

A PORTFOLIO OF SOLUTIONS

At Croda, we've developed a comprehensive range of neurocosmetic actives that address different aspects of the skin-brain connection:

• Zenakine™ represents perhaps our most sophisticated approach to neurocosmetics. This postbiotic extract from Lactobacillus rhamnosus GG works by resynchronising skin’s biological clock, which becomes disrupted by chronic stress and poor sleep patterns. Clinical studies demonstrate its ability to improve sleep quality, reduce stress-induced ageing, and enhance emotional wellbeing. Volunteers using Zenakine™ showed measurable improvements in self-esteem and happiness while experiencing reduced expression wrinkles and enhanced skin resilience.

https://www.pharmacos.co.za/magazines/pharmaceutical-cosmetic-review-may-2026/

Https://www.cosmeticsandtoiletries.com/news/event-coverage/news/22960770/2026-ct-alls-honor-80-beauty-innovators-with-merits

Yes, it's certainly looking that way Aquae.

Just had a look in on Trend Hunter, Zenakine is still very strong re popularity and activity. Seeng that L’Oreal, Estée Lauder et al use the site, thats no bad thing.

https://www.trendhunter.com/trends/croda-beauty

Https://www.thekbs.co.kr/news/articleView.html?idxno=14625