Member Info for Toyin

Sophie, Elric has just clarified a confusing point on the rns, nothing more, nothing less. Stop with your nonsense.

Very welcome PG.

Sophie, firstly, this is nothing to do with Elric, this has come direct from SBTX investor relations. For you to say it is not true implies you are accusing the company of lying to investors, i.e. me.

Secondly, you ask why have they not rns'd it, that's a good question, the ambiquity does create issues. Why dont you ask them that whilst you’re discussing your other query.

As you can see from yesterday when I spat my dummy out and threw all my toys out the pram, the rns’ are a bone of contention for me, believe me I have been banging that drum for a while but to no avail. If the rns’ were better we wouldn’t have all this nonsense and we wouldn’t be in the teens.

Sophie, please contact IR if you wish for clarification direct from the company.

Dustbin is correct in the way he calculates revenues. We can debate the amount sbtx will receive but thats a different story. Unless you are willing to admit you are wrong this discussion is over.

On a different note.

The broker has left the TP unchanged but that does not include anything from Croda (that will be down to the NDA). But they have confirmed revenue will start flowing in 2024. I dont know how you can keep the TP the same with this new information but wtfdik!!

Sophie, I can confirm you are wrong.

The royalties are tiered based on geographical and volume calculations, but the “mean" is a double digit “percentage” of world wide sales. I have had this confirmed by the company today.

So let me be crystal clear, we get a double digit royalty “percentage” payment of world wide sales!!!

This is the E.g. I sent and it was confirmed to be correct.

If Croda sold £10m of lysate we would get £1m in royalties (I have used 10% for the E.g.)?

Oleric, not at all, I have never been more confident in the company. My gripe is the wording in the rns's nothing more nothing less.

Bazza, Yes, its very frustrating.

Bazza, the news is indeed brilliant but it could have been so much more, thats the frustration!

Annabel, no I am not.

The interview is prerecorded and the nomad will check it before it goes out, based on past experience that means it will be fecked up! If someone wants to correct me on that enjoy.

Regarding the negativity, the rns was poorly written, again. We were also told “forecasts in Oct/Nov” we have also known for years the basis of the royalties, we have also been told to “anticipate” revenues since 2021, so forgive me for being negative!

Stop making excuses, this is a poor show.

Lay off the Kool-Aid!

Dustbin, you do not leave things open to interpretation, you make it crystal clear. There is no room for ambiguity in an rns, yet we always manage to achieve it!

So just put the word calendar in, its not difficult is it!

Martinu, yes the nomad will be all over it like a rash so I wouldn’t get too excited, he’s obviously had a hand on fecking the rns up, so you can bet he will feck the interview up as well, it will probably be like watching a silent movie. Elric will have his work cut out trying to spin this rns!

I really dont understand how we keep getting it so wrong, everybody knew Croda was happening SA has said that multiple times, yet here we are. What have I learnt today, nothing other than we keep shooting ourselves in the foot, it's just another can kick. Unless of course we are getting revenues before "calendar" year end, if so I will be a little happier, but if that is the case, why dont they fecking say so!!!!!!!

Bazza, hopefully not, but disappointing nonetheless.

No, not at all Prospector.

Bazza, I dont want to lay the blame at SA's feet as I feel the nomad needs to shoulder a lot of the responsibility, as we know he has form, stopping any comms unless through IMC! But I certainly believe this is the most important rns in the companies history, and for SA, he needs to take control and put the nomad firmly in his box.

Just a point on comms. Out of curiosity I searched YouTube for interviews over the last twelve months on some other companies I hold.

Polb 28

Hvo 30+

Kefi 20+

Sbtx has done........... 4.

Now I’m not saying doing more interviews guarantees to change the share price, but at least try and sell the company to fresh investors. We are involved in a technology that will "break new scientific ground in the use of lysated bacteria in the cosmetic industry as a skin care active ingredient." not my words, the words of Dr Damian Kelly Vice President Innovation & Technology Development at Croda Europe Ltd.

I would be promoting the hell out of it!

Mad, firstly we were promised forecasts in the last IMC presentation so I dont understand how you dont care about them. Secondly, I agree it will be Croda dragging their feet but we have waited far too long, its time to pay up!

My fear is another dreary rns which has a lot of guff but tells us nothing of any worth. Five years work on our prized asset, it better be fecking amazing!

Dustbin, I agree that the lysate will be a blockbuster for both companies, I also agree that Croda need it yesterday, the problem is Croda seem incapable of executing a strategy. How much have investors of sbtx been diluted because management have set out a path on the basis initial revenues would start to flow in 2021, then 2022 etc? How do you sign a four year agreement knowing full well it takes seven? Croda have been a terrible partner in my opinion and have led management up the garden path, lets see what the update says if we get one. One thing’s for sure, it will have to be a damn site better than what we have had so far!

Rankamateur, that is always a possibility but I dont buy it for the following reasons.

The VIP’s have had the lysate for two years.

The VIP’s will make up 80% of sales.

Croda and VIP’s have known what the lysate does for twelve months and had multiple formulations.

The cat is well and truly out the bag, what difference does it make if forecasts are given and they are £1m, £2m, £3m, etc. We dont know whos selling it, where they are selling it, how much they have ordered, the shelf life, what products its in, how many products there are, etc, etc. We know roughly what we get, double digit royalties on world wide sales but that's it. How can giving a forecast possibly jeopardise any part of this launch?

I completely understand keeping secret what the lysate does, IP, future uses, etc, I’m not interested in any of that, I just want some money. I dont care how they word it, if you dont want to give a forecast, call it a goodwill payment, makes no difference to me. After waiting since 2021 for initial revenues I think that is the least we deserve. SA has been more than accommodating over the years, time to pay up, no excuses.

Farris, they have to give an update, the agreement ends the 20th of this month, forecasts will be done and dusted, unless we are dealing with incompetence of biblical proportion! Remember VIP's have had the lysate for two years. Croda & VIP's knew at least twelve months ago what the lysate could do, the extension was just for validation, to set it at price A or price B. We have known for years we are on double digit royalties on world wide sales, I dont see that there is much more to negotiate at this point. Minimum orders/sales/territories etc will be set by Croda, we are not in a position to question them.

We have been expecting revenues since 2021, I have had enough. I have been waiting five years for this, I am not waiting another day. If we dont get an rns with revenues/expected revenues on or before the 20th of this month I will be fecking apoplectic. How they can leave it this late in the day is beyond me, although Croda’s seven year low share price would back up my biblical incompetence theory!

Agreed, the soft launch (if you want to call it that) will have already happened. Croda will want return on investment asap as nobody knows if a new science is around the corner. The VIP's will go big and fast, they have already had multiple formulations for many months, they will have already done a "soft launch" in house gathering data and feedback from testers, enabling them to make necessary changes or improvements before the official launch.