Member Info for Toyin

willg, your last post sums the situation up perfectly, you hit the nail on the head. i thank you.

this is the whole problem, everything is as clear as mud. we can’t even trust rns’ they have been misleading since 2020, even the last broker note has the wrong y/e cash figure, it’s a complete **** show.

this is what needs to be done.

1, issue an rns clarifying the current situation regarding croda and if payments have been received.

2, sack cavandish as nomad & broker.

3, sack vigo.

sa needs to get some good advisors around him.

WILLG, Croda have been forward selling since June 24 and management have stated they expected revenues in calendar year 2024 and Croda have confirmed that was still going to happen. Worst case we have had two royalty payments to date.

Dustbin, one problem with that, nothing has been delivered and investors have been misled multiple times, that’s what the share price is telling you. With Croda soon to be kicked out the ftse 100 at this rate, that’s the result of a well run company! Let me walk you through it.

The company expected initial revenues from Croda way back in 2021 with commercialisation in 2022, then we get told initial revenues in 2022, etc, etc. then we get an extension, followed by an NDA, then a launch which can only be described as a massive anti climax. On top of all that Croda have the audacity to pat themselves on the back because this sort of project normally takes seven years. Question, why sign a four year agreement in the first place?

So dustbin, whilst you and a few others are willing to sit back on your sun loungers, “relax” and celebrate mediocrity and failure to deliver, the vast majority of long term, loyal shareholders are not. Sorry to tell you this, you are in a very small minority and you are talking out of your ar5e.

That’s my last comment on this situation, as Mark Twain said, “Never argue with an idiot. They will drag you down to their level and beat you with experience.”

Shychap, the forecast hasn't changed because he cant talk about Croda. Even the broker note states:

5/12, "The company expects first revenues from the Croda partnership to be received in CY24, with this income not included in our current forecasts."

9/4, "Note that our current forecasts do not include any contribution from potential Zenakine sales.”

The trading in line comment is for Derma, BTS & Axis, not Croda, why, because he cant talk about it due to the NDA. I dont care what he has spelt out, the rules are crystal clear.

Shychap, there is plenty of evidence to back my theory. Some listed below for your pleasure.

1. Forward selling since June 24.

2. Payment received in December 24 (allegedly), quarterly in arrears suggest at least two payments have been made.

3. 11/10/24 “Post acquisition, SkinBioTherapeutics has sufficient cash runway to support operations through to Summer 2026”

4. 19/11/24 "BASED ON MANAGEMENTS BASELINE EXPECTATIONS" for sales under the Croda agreement plus sales from new acquisitions, Dermatonics and Bio-Tech Solutions, the Group is expected to be cash flow positive from FY2025” So in in less than one month the narrative changes from, "sufficient cash runway to support operations through to Summer 2026” to "the Group is expected to be cash flow positive from FY2025 (June 25)”

5. Revenues for H1 were £1.58m, yet the first two months of H2 (Jan/Feb) generated approx £1.7m.

6. March this year the broker has cash of £300k at Y/E (June 25). I believe the reason for this is because they have received no guidance on Croda.

I have spoken to the company. No more research needed, questions need answering. Get back in your box.

Shy, I dont give a rats a5s about other companies. AIM regulations are crystal clear and an NDA does not supersede that fact.

An AIM company must issue notification without delay of any new developments which

are not public knowledge which, if made public, would be likely to lead to a significant

movement in the price of its AIM securities.

Stop trying to defend this indefensible situation.

"Says the man who reckoned BB-Biont may contain skinbiotix about a year ago"

Nick, who said it was in BB-Biont?

OldsCool, SA will not be able to say anything material in the IMC, it has to be in an rns.

Analyzer, they have a baseline which they have used for forecasting, it should be in the public domain.

19/11/24 "Based on management's baseline expectations for sales under the Croda agreement plus sales from new acquisitions, Dermatonics and Bio-Tech Solutions, the Group is expected to be cash flow positive from FY2025”

Cyber, my last post on the subject. The NDA has NO power to stop financial figures, none. AIM rules are clear.

Shychap, thats not the point, you have to look at the history, rns’ stating revenue expected in 21, then 22, etc, etc, then an extension, then an NDA. We signed a four year agreement in Nov 2019 which takes us to Nov 23 and you say you are happy finding out how we are doing days shy of 2026. I dont mind being forewarned but the NDA was signed after multiple can kicks, delays, etc. As far as I am aware no rns stated monies would be received before “calendar” year end, it just states year end, big difference, so he doesn't have to clarify anything. (If I am wrong feel free to correct me). The IMC will be a waste of time, we need a financial update, thats what the market is telling you and its what I said would happen.

Shychap, for me it's about transparency, being upfront with investors. It's gone on long enough, it would be great if we have received a six figure amount, but even if we haven’t, did we receive the payment in December? We dont know, when will we find out, Croda have been selling the lysate since June 24, I find it whole unacceptable we still have no idea WTF is going on. Oh and let's not mention the lumpy £1.7m in Jan/Feb.

Net, "forget the rules" really. So our CEO goes to No10 brain storming how to make AIM more attractive but you think we should forget the rules. Unbelievable!

I have enjoyed this ride long enough net, after being told we expected revenues in 2021, then 2022, then 2023, then, 2024, then an extension, then an NDA. I think it's time for some transparency.

Shychap, that rule is in reference to a subsidiary, not applicable in this instance. Rule 11 is crystal clear.

11. An AIM company must issue notification without delay of any new developments which

are not public knowledge which, if made public, would be likely to lead to a significant

movement in the price of its AIM securities. By way of example, this may include matters

concerning a change in:

— its financial condition;

— its sphere of activity;

— the performance of its business; or

— its expectation of its performance.

Shychap, if we have received monies from Croda and it is material, you have to disclose it immediately. It's not about whining, they are the rules.

Bazza, poorly worded again.

This is what we know, Croda have been forward selling since June and we allegedly received our first payment in Dec 24. Now if Croda want to keep their financial expectations to themselves thats their prerogative.

Rns 19/11 "Based on management's baseline expectations for sales under the Croda agreement plus sales from new acquisitions, Dermatonics and Bio-Tech Solutions, the Group is expected to be cash flow positive from FY2025”

So management have a baseline, you cant hide cash no matter what Croda says, or hide behind an NDA, we need a financial update asap to clear up this confusion.

Net, the company should issue an rns today / tomorrow latest.

Apologies for multiple posts had cloudflare issues!

Bazza, everyone invested knew the launch was happening, it was never going to impact the share price. We need new investors for that, that will require an rns with Croda financials which should have happened already. The NDA does not overrule AIM regulation, it never has.

Bazza, everyone invested knew the launch was happening, it was never going to impact the share price. We need new investors for that, that will require an rns with Croda financials which should have happened already. The NDA does not overrule AIM regulation, it never has.