Member Info for Toyin

Children, can we stop with bull.... and get back to sensible discussion!

Dont make accusations and I wont use the word, simple.

Will do thomas, if you keep your accusations to yourself.

Apologies Aquae, order no 1/10 was 3450.

thomas, yes I do believe there are multi multinationals at the table because SA has openly said that, if I didn't believe the ceo I wouldn't be invested. How do you know there is a lack of progress, last I heard SA said they are brokering a deal right now, but for the whole pillar not just a distribution deal for psoriasis. How difficult do you think it is to deal with a multinational, also agreeing on future products that haven't even been made yet?

If you believe that it's only Croda at the table you must also believe SA has lied, if that is the case I would be selling up and putting it down to experience. I understand the frustration, i'm frustrated also, but the thoughts in your head doesn't equal reality.

thomas, let's go in order. Can we sort the Croda issue out first? Why does Croda have Mr Ashman between a rock and a hard place? Please educate me.

Seeing as you made the statement would you care to elaborate?

He has no reasoning.

Aquae, it’s nothing to do with the exact wording, when he mentioned the word moderate it was nothing to do with our sales, so get your facts right. So if you do know where he implied July/Aug figures are moderate or words to that affect, I’m all ears.

Aquae, the only time I heard Stuart reference moderate was when he was discussing the distribution deals @ 22m 30s. When he talked about July/Aug sales @ 31m 30s I didn't hear moderate. Am I missing something?

Aquae, when did Stuart say moderate increases for July/Aug, I have missed that.

Aquae, I never said £2m, I said under £2m. Until we have a gauge on current sales and what credits we get back, etc, etc its too much guess work. The sooner we get some pieces to the puzzle the better.

Aquae, cash burn isn't related to being on AIM it is down to what the business does and if it's making a profit or not.

Our cash burn in prior years has been circa £1.5m. Now the launch and stock is out the way we should drop back to something under £2m. I understand we have employed a full time FD and other staff but we also have sales coming in from Axis which we didn't have in prior years.

Aquae, SA said in his last interview four weeks ago we have a general low cash burn now the launch is out the way. Now I dont know what "low" means, but the burn has obviously come down.

belgrano, "Won’t say what those points are, however I personally do not believe in holding until bust."

We had £1.8m at Y/E, plus r&d & tax credits, plus growing Axis sales, plus first Croda payment due, plus if we had to we could sign distribution deals. How are possibly going bust?

Aquae, You said "sitting duck" which imo implies it would be hostile, you think Cath would work for Croda after that! Anything is possible, but the first question that needs answering is at what price?

Its always possible but not probable, Prof Cath wouldn't go, so no future pipeline. Hence why they are building a "smart partnership." Plus if it was on the cards i'm sure SA could get a few 5 year distribution deals over the line to scupper the plan. Maybe Croda is one of the multinationals at the table.

Aquae, this is not Sbtx, Medilan has been commercial since at least early 2021.

Can we keep it civil people.

Ody, you are at a loss with this share because you obviously haven't done any research whatsoever. Lets break this down so I can hopefully give you some relevant answers

1 Croda hasn't entered into a partnership with sbtx for the Psoriasis product so the sales are irrelevant. Croda has taken sbtx lysate and formulated it into skin products, Croda have spent €5 million on a dedicated production line at their plant in Widnes. The deal was signed in Nov 2019 and was a three year plan, it is on track as per SA saying in rns's and interviews, he expects revenues this calendar year.

2. Your second paragraph is a bit of a mash, but here goes. We aren't stopping selling to consumers SA has stated if/when he does a deal with a multinational he will try to broker to keep the U.K. but he has always said we are not a b2c company, the b2c came about because of covid so he wanted to adapt and keep things moving. This approach has generated sales and interest from the distributors and multinationals and de-risked the product. Acne is on track and SA is with Winclove next month.

3. The missed target was a disaster no if's or but's, it could have been hit and still could if SA sign's the distribution deals but he is going for the multinational.

It is not a mess if you get with the program, imo the share price is tanking because investors think we need a fund raise to keep the lights on, SA has clearly stated this is not the case, I agree, we have growing Axis sales and Croda contribution hitting our bank H1 next year.

I suggest you watch his last interview from 3 weeks ago, there is a lot information in it.

https://youtu.be/eZsW0tVnpCs