Member Info for Troutisout1

The lies are being spread by you Laura, the first one being you have filtered everyone, what do you now say about the CEO taking over 100% pay rise???

Remember you said similar about the FAB CEO and I pointed out it wasn't a pay rise it was just the first full year's wages against a part year previously, the same has happened to PS as I said it would. but you kept on lying about it.

TRENCH I understand your loyalty, I was once an investor like that and every now and then it paid off, but mainly it didn't and years of loyalty were rewarded with a low ball takeover, a delisting or just continuing on the same trajectory with dilutions along the way.

Thanks for that TRENCH, I didn't recall that, but not sure I was 'adamant', I still believe they will need to raise, however we can see from last year's accounts that they did so when cash had got to just under £200k, I believe that will happen at the end of this year, so do they go before Christmas or after in the New Year?

Net cash outflow from operating activities was £548k in 2024 and £546k in 2025, pretty consistent. So this year they start with more in the contract pipeline, but they also have more staff cost, with recent hires at the end of the last year and since.

Staff costs were £672k last year and they have increased head count since then and some of last year's head count weren't for the full year so their wage figure will go up.

Much like I said about PS and as we can now see Laura spouting he was on £78k a year, was another fabrication, PS took £164k in salary package in 2025.

So in summary, I still believe they will need a raise, when is their decision.

TRENCH,

Were you going to be rude in your unintended post?

Not sure I have stated an Autumn fundraise, but I still believe they will need to raise again.

I haven't miscalculated I have just been realistic and added some negatives like the 3 months cash burn for June - Sep, not adding in debtors figure without adding the creditors as well and reading the RNSs correctly, so when a contract is to be delivered over 18 months, realising it won't all be paid for in the first 12 months. The realism also means that through no fault of PYC some of that contracted work for the year won't happen in the year, it will slip into the next year or may be dropped altogether, that is this business. Biotech funding has been reduced dramatically and although they want to move forward if they can't raise funds to do so, then the contracts don't get honoured.

The Dosing tool was the jewel here (that could see some excitement and SP appreciation) and posters were saying it was going to be out there by the end of this year, that has sadly been dashed and looks like it will be into FY2027 before it sees a Clinicians office, let alone gets commercialised.

In the meantime there are many other Companies out there doing very well, to sit here and tread water incurs an opportunity cost.

Can't be that positive if they are offering 5m shares...If they were Bidding then maybe...

"Analysis results from CRD033 are currently expected to be released in September 2025." This is what they said on 14th August, if they are still going to report this first and not wait for the others then should be soon....

There you go again, one of the contracts is for 18 months and so won't be all in this FY2026, (I copied it below), do the clients all pay up front or pay on delivery? You know the answer as that is why they have the slippages each year.

You claiming there is no cash burn between June and Today???

You saying they have collected all the trade debtors money in and not paid any of the trade creditors.

You miss the meaning of the word 'projected' and seem to be taking it as fact, which when dealing with the market this company is in is very wrong (listen to PS talk about it in his answer on IMC).

As for the cash burn, that is only known after the fact and if you have seen projections for a period, they are just that. This is a loss making company they have made no prediction on when they will reach breakeven, which suggests it won't happen this current year.

As for some of your comments - projected contracted revenue due this year, some may slip into next year, others may not happen at all.

I am sure PYC will deliver more contracts up until June 2026, how much of that will be recognised in this year's accounts is unknown and as I pointed out some contracts you are talking about are already slotted for 2026 and into 2027. You are talking 2026 revenue, but you are adding all the positive figures from 2026 and 2027 and ignoring any costs or cash burn.

As for understanding the company and the space it is working in, I think I have understood both far better than you, which is why you are trying to sugarcoat this to ramp to others and I have the ability to look at it realistically.

I do recommend to others to watch the IMC and watch it through the eyes of someone not invested, would you rush to invest in PYC or many of the other opportunities out there...

Watch the IMC

https://www.youtube.com/watch?v=ClHJzu5tSHo

More rubbish accounting from the deceiver,

They haven't got £700k in cash at this time as you have added debtors figure in it's totality and not added the creditor's figure at all, you have ignored the fact they have had 3 months since the cash figure used in the results and at the previous 6 months rate that would be about £150k burned. You are using a figure for contracted revenue which you know is in total and includes some in FY2027.

That figure is also only projected, we know they did the same for the past two years and some has not been recognised as the contracts didn't get financed (mentioned in the IMC) and others have slipped into future years.

"with approximately £594k of contracted revenue that is projected to be recognised within the year. "

The £98k contract you mention is to be recognised over 18 months and you can bet that is going to be back loaded, so not all to be recognised in FY 2026.

JM also mentioned the need to invest and that as a people led company that means hiring people and he mentioned the new Management hires, so ongoing costs have gone up since the AR.

You are trying to deceive people, I suggest they watch the IMC and look at it without Laura's Rose Tinted Glasses, where is the something special going to happen that gives this the boost some here are trying to convince people is going to come? The timelines promised by some posters here are being pushed back all the time when the Company actually reports progress and even the pump and dumps run out of steam after 24 hours. No one ever speaks about the competition to PYC there are lots of bigger Companies doing everything that PYC are doing, all chasing the contracts from Biotech and Pharma, with the limited finance how do PYC compete and make profits from their contracts? Do they actually take on contracts just to keep the wages bill paid (so low or no margin) or are they in a position of strength to demand premium prices for their work? History says...

I watched it last night and the Q&A again this morning, first thoughts were they only had just over 15 minutes on the Q&A when they have 30 minutes scheduled, was that lack of interest from investors or not wanting to hear some of the answers.

The personal dosing tool doesn't look like it is near to going in front of physicians anytime soon, they talk about more validation and the PredictONC trial (which is now due to finish next Spring) will give them more data for calibration, with more work after that on validation before being able to put it in front of clinicians. I think this will be close to year away from what they were saying.

On AI, PS poured cold water over some of the ramps here about the use of AI, of course like everyone else they use AI to harvest data and an element of Machine Learning, but for regulatory purposes AI is not enough and old fashioned scientific work is needed.

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Really, so you have added the total trade debtors figure to the cash at 30th June 2025 and come up with a figure for £700k cash for now???

Ignoring the £88k trade creditors and the fact that another 3 months have passed and the Company are definitely running at a loss, so the cash is being spent each month (it was £300k for the previous 6 months so let's say half of that).

The wages bill for the year just gone was £672k (of which £245k was Directors).with the addition of the Head of Biometrics on 1st July and the increased workload they are talking about, that will be higher.

You seem to add all the positives up and ignore all the negatives, you are not Rachel from Accounts in disguise?

Not sure what more they can tell us, it's all about Cuprum getting their listing underway, I think the next thing will be an extension to the 6 months, as I am not sure they have enough time within the current timeframe???

https://www.cuprum-metals.com/

The rules state they have to publish the Interims by end of play tomorrow or they would be suspended.

Unlikely to happen as these are unaudited and that is the normal delay on full Results when the Auditor cannot sign something off.

I am surprised they have left it until the last day, but wonder if they were holding on for something?

King Homer, we can see the cash figure, we had the previous figure rammed down our throats by Laura and we can work out the difference, that is cash burnt, that includes the revenues for the six month period H2 2025.

When they say they have enough cash to June 2026, that includes their projected revenues and costs, that can be affected both positively and negatively by future events.

WE can see that they have used £300k cash in the first 6 months of this year, so using a £50k a month figure and take off from the current figure shows us that would run out in March of next year, they have projected enough until June and that will take into account the current balance of trade debtors and trade creditors.

I cannot see they have said that the cash will see them through to profitability or cash breakeven, so they know...

OSD for the second year running many of these contracts have run into the following accounting year, such slippage is part of the headwinds they take about. I am invested in other CROs and all of them have pointed out the problems with delays, commitment to contracts and changes in policy by their Biotech clients. The service providers all have contracts and decent order pipeline, but lack of finalisation and go ahead on many of these means they just stay as a stat on the figures rather than revenues in the bank.

Also the period January to June also had contract wins and completions, the revenue figure was up and still the cash was used, so just a simple calculation would say this Half would see a similar burn, any small uplift in revenues will be offset by a similar uplift in Management costs.

"X10 annual revenues is industry standard

Don't forget up till last 3mths most other biontechs were going unnoticed ( eg HEMO APTA etc)until fresh wave of sector interest"

What a load of rubbish, '10 times annual revenues', also this is a CRO, a service company, it isn't developing drugs, it services clients.

Laura, His salary has more than doubled because last year's figure was only for part of the year as CEO, something you decided not to accept, now it is black and white you may have to accept it...

If they used £300k of the cash between January 1st and June 30th, say £150k from June to end of September, leaves them around £300k left, by the time Christmas arrives that could be down between £150k-£200k, they won't want to raise from a position of weakness (lack of cash in account) and it looks like they will still need to raise to keep enough liquidity, so let's wait and see....

King Homer perhaps for clarity you should point out that is Q4 FY2026, so June and not Q4 calender 2026, which would be December...

As it is they have burnt through £300k from January to June and can only think a similar equivalent amount since June would have cash left around £300k for end of September and there will be increased staff costs with the two management hires and WOW look at the CEO's salary. Laura should be having kittens at the greedy CEO increasing their salary by over 100%, all those posts about other CEOs increasing theirs and he didn't take on board what I was saying about PS's situation,. Can you imagine Laura posting incorrect facts to mislead, surely not....

As for delays the PredictONC trial was meant to be completed by the end of next month and has now been pushed back to next year, but they still only have recruited 20% of the patients (up from 10% at the Interim results stage), I sense that this could see more delays down the line. Which isn't to be a surprise in this field, trials and development are always subject to delays and changes, something that has to be accepted when investing in medical shares.

King Homer perhaps for clarity you should point out that is Q4 FY2026, so June and not Q4 calender 2026, which would be December...

As it is they have burnt through £300k from January to June and can only think a similar equivalent amount since June would have cash left around £300k for end of September and there will be increased staff costs with the two management hires and WOW look at the CEO's salary. Laura should be having kittens at the greedy CEO increasing their salary by over 100%, all those posts about other CEOs increasing theirs and he didn't take on board what I was saying about PS's situation,. Can you imagine Laura posting incorrect facts to mislead, surely not....

As for delays the PredictONC trial was meant to be completed by the end of next month and has now been pushed back to next year, but they still only have recruited 20% of the patients (up from 10% at the Interim results stage), I sense that this could see more delays down the line. Which isn't to be a surprise in this field, trials and development are always subject to delays and changes, something that has to be accepted when investing in medical shares.

I suppose you didn't say which way...

Hopefully before the 30th, as that is the requirement.