Member Info for Toyin

Cp, when you strip out Croda which wasn't in the forecast, it was a monumental miss, you need to do some deeper research.

Aquae, can you give me your view on something.

When we strip out Croda from the forecast we have a miss of circa £1.2-£1.4m depending on which forecast you use, this is made up of missed orders from Derma, BTS and also Axis underperforming.

Seeing as Singers forecast was £6.2m for FY26, why do you think the forecast in the FY results wasn't upgraded to at least £7.2m to take into account the missed orders in FY25 that landed in FY26?

Bazza, I know multiple complaints have gone in, including myself to AIM, FRC & FCA. If what TW says is correct it doesn’t look good for SA.

Thanks for the joke Aquae, that gave me a laugh!

Regarding Derma, if you go back to Jan 24 presentation this was all pre Modi, so even with very little from Modi, £2.2m for FY25 is not very good. And remember there was also a one off bad debt.

https://youtu.be/s16vA3bFx3s?si=MEdUw_r4Ihu-A12a&t=2191

Even if you leave Derma at £2.2m for FY26 it still gets my figures to £6.68m and thats with no growth from Axis, SD or Croda!

Bubsy, I have only ever been here for Croda and the fact they gave us over £700k gives me great encouragement, I think the biggest thing that has spooked investors is the forecast, it doesnt look good, but I dont believe it for one minute, its been lowballed. What he needs to do next week is upgrade guidance immediately and then hand in his resignation. I posted this on Substack yesterday, it just shows he is either a liar or incompetent, or both. I shall let others decide.

FY25

Derma £2.2m

BTS £1.4m

Axis £0.28m

Croda £0.7m (Table 15 Trade and other receivables) Accrued Income £769k

Total £4.58m

Lets assume Derma & BTS only hit FY25 forecasts and we get zero growth in Axis (inc Superdrug) or Croda. Figures below:

Derma £2.9m

BTS £3.0m

Axis £0.28m (inc SD)

Croda £0.7m

Total £6.88m

Plus, lets not forget the missed orders which dropped in to H1 26, lets call it £500k, which takes us to £7.38m. Remember, thats with Zero growth!

“Market expectations for the year ending 30 June 2026; revenue of £6.2 million and adjusted EBITDA of £0.7”

So would anybody like to explain, how we are only going to do £6.2m, if as per the Proactive interview everything is going really well?

All the best

Delusional.

Shy, complaint just emailed on that very subject, plus Croda to FRC and AIM regs, FCA will be done via their portal this afternoon.

His position is untenable.

Little exercise for investors.

Lets assume Derma & BTS only hit FY25 forecasts and we get zero growth in Axis (inc Superdrug) or Croda, figures below:

Derma £2.9m

BTS £3.0m

Axis £0.28m (inc SD)

Croda £0.7m

Total £6.88m

How the fook do they have forecasts for FY26 at £6.2m? Is it any wonder there has been a selloff!

Are the acquisitions going to miss, again?

Is Superdrug a flop, after raising £4m?

Is Croda not going to see any growth?

You see the problem.

Bubs, I appreciate he isn't going to sell them, but please, no more! Look at the figures, go back to the figures in the IMC in April.

Derma forecast £2.9m, actual £2.2m

BTS forecast £3.0m (pro forma) actual £1.4m

So even if they did last years forecast this year of £5.9m, how have they got market expectations of £6.2m, which also includes Axis and Croda?

They have been a disaster, in both time and dilution. No more!

Clio, the acquisitions have been a disaster and how much dilution have we took on to acquire them? Its a nonsense, get rid and focus all efforts into selling the IP in other pillars, cash straight to the bottom line! We can always do a JV with a cream company.

What good news have they brought so far, none. Dilution of time and money.

Bazza, markets got it wrong. I am here for Croda and they have exceeded my expectations. As far as I am concerned the acquisitions should be off loaded, they have been a disaster, focus on pushing the Axis pillar(in powder form, no gum machines etc) and push our IP, no more empire building and cut costs to a minimum.

Derma £2.2m

BTS. £1.4m

Axis. £0.28m

Croda £0.7m

Agreed Aquae, Croda smashed it, extremely happy with Croda

Agreed Aquae, alignment would be good, I take onboard your suggestion.

Aquae, I did, but like everything with Sbtx it’s just a mess, Simon is still on the website as COO.

Aquae, she can wear as many hats as she likes as long as it’s logged on companies house, which it isn’t.

Ditto:

4 December 2025 at 07:51:20 GMT

To: IR@skinbiotix.com

Dear Ms Bertram

An email response has come to my attention that you sent to an investor regarding the AGM. I am extremely disappointed in the tone of the reply, it came across as rude and dismissive. I would like to remind you that as an employee of Skinbiotheraputics PLC you work for shareholders and as such should have a certain level of respect for them.

The AGM is for shareholders benefit, not for directors or employees and the reasons you give for location, format and timing do not wash. I would respectfully request before you reply to investors in future you think twice before hitting the send button. I really do not understand why it take so long to get results out when companies much larger can manage it in far less time, this would eradicate the need for an AGM to be held between Christmas & New Year, i'm sure it would also give the opportunity for the BOD to integrate it with pre arranged meetings in a more convenient location for shareholders.

Please could you confirm your position within the company as you signed off as Group Finance Director but at companies house you are listed as Secretary.

Regards

Shy, thats a positively sane theory compared to whats gone on at sbtx recently!

Not only is it possible, I would wager it is a nailed on certainty!

Ox, apologies, I missed your post.

I beleive Croda is a big enough customer to be singled out (in fact I am positive), but we shall see. I await results and hope we at last get transparency, but the TU mentioning FRS102 doesnt fill me with hope, looks like I could be back on to the FRC et al!

Clio, it certainly is a head scratcher and I agree it is uninvestable at the moment, oh wait, if I remember correctly I do believe someone has taken a small position, I believe just over 13% during this no news/shyte news period. Funny old world isnt it!