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I will add, NNN appear are paying for R&D for a partner who has no contractual obligation to commercialise the technology if successfully developed.

If true then the BODs are num nuts and NNN really are p****g money down the drain.

Todays RNS does not meet the expectations set by BODs 04/07/22 RNS where they stated "Discussions are at various stages of progress with credible market counterparties and the Directors expect that commercial partnerships, once agreed, will commence with an R&D partnership, paid for by the partner"

Obviously if this unknown partner was funding the R&D even Duffers would have included this in todays RNS as THIS would have been material information.

As such it looks like first partner will be funded by cash coming in from Lanstead.

Trisor who is paying to convert the factory?

Trisor, yes Duffers did a financing deal which will at least keep the doors open for 24 months. However, Duffers gave 20% of the company and at this share price 20 day av the first instalment will be circa 80K not the 122K example. Hence todays no news flaky RNS to try and get the SP up.

Expect more such RNSs to pump the SP otherwise the Lanstead instalments will get lower and lower and NNN will have to think again.

The naysayers have been correct for 2 years this company has no sales, no products and just one new business contact in 12 months.

This RNS announces some R&D work, no commercial detail, no idea who the company is and no agreement about what happens after R&D finishes.

It is pretty desperate to try and make this RNS out to be something which will take the company forward until there is more detail it is just R&D stuff with an unknown partner which may or may not lead to a product, which may or may not lead to commercialisation.

I'm not sure the news as is even warranted an RNS.

Trisor there is no revenue and they wont report any revenue for years.

Get a grip man its one RNS which says, if, maybe and subject to

for what is effectively a turnaround start up…. can you turnaround a start up or do you mean starting up a turnaround.

Trisor makes as much sense as this RNS will result in revenue.

Just for NFF, it is an agreement to do R&D which IF successful MAY lead to an agreement to TRY and commercialise the tech.

Sounds like the citrus greening trials and chili research only with less information. We don't know who the wellbeing company is but we do know this will be their first project in the cosmetics market. So after 12 months R&D might can the project or another year or two to go to market.

So still no revenue but on the upside it is the first new partner since Duffers joined.

Micho, Im not sue what your point cut and paste post is Micho

Do the maths using the examples provided in the RNS. It is 25% discount on the price VWAP. Smoke and mirrors in RNS and Q&A but 25% discount none the less.

The point I think the faithful LTHs are missing is the 25% discount Lanstead always get.

If as the example given is the 20 day VWAP is 0.73 NNN get 2.9M which on 535M shares means Lanstead pay 0.55 per share, a 25% discount on the 0.73 20 day VWAP.

But the example given is pointless the SP is 0.46 so if that is the average over the term Lanstead would pay 0.34 per share resulting £1.8M for NNN.

NNN share price up or down Lanstead always get 25% discount off the 20 day VWAP as they make instalments over 2 years on 535M share they can trade from 1st of Sept. Happy days for them.

If you think this is a good deal for shareholders so be it.

ExMS, I cant see burn being that high but they did squander £2M in six months to June 30. As you say it is either burn or there is something they haven't told us.

Lets face it the BOD gave not an inkling they were looking to raise money if fact they intermated the opposite by saying had enough cash for at least 12 months ....

There are PANTS of FIRE somewhere

ExMS, this agreement only delivers 2.9M if SP average is 0.73 for 24 months. If share price average is current level is deliver £2M over 24 months if SP continues to fall it delivers less and less cash every month.

In fairness ExMS I cant see they have the 333K a month burn but its still large

TB issued 400M share raising £5M which this lot have been living off ever since. He then had shareholders led by Caveboy vote down his proposal to issue 400M warrants raising a further £8M.

Shame we voted with Caveboy.

Trisor, it now very hard for NNN to go bust even with these numpties in charge.

Landstead have all the share NOW but they pay for 1/24th every month for 24 months at a 25% discount to the share price at that time.

Hi Poor yes NNN can keep the doors open and their fat salaries for at least 30 months and Landstead make a pile of money.

Its clear as day this deal was done because Duffers doesn't believe he can get the SP to 1p or more any time soon so sorry but NOTHING good in here for LTHs

Trisor is "pretty happy" that Landstead get 20% of NNN, don't even have to cough up the cash now but in 24 monthly instalments which are always at a 25% discount on the previous 20 day av of NNN share price. Talk about license to print money.

Duffers has nothing up his sleeve otherwise he would have waited to get SP above 1p then raise £3M cash on day 1 in the bank for 300,000,000 shares.

He did the Lanstead deal because he has nothing to get the SP up. Lanstead don't care because they always win up or down.

For clarity if the 20 day av share price is 0.55 Landstead instalment based on paying at 00.41 per share hence the 92,373

How much to Landstead pay of SP 20 day av is 0.4????

back to the arithmetic

HeresHopin they wont get 100K a month. If the share 20 av is 0.55 Lanstead pay 75% of this so NNN get £92,373

This is a fact and at the bottom of the RNS

However if the share price falls to say a 20 day av of say 0.4 get a lot less

Twistorbust, wrong again the focus has not been on growth (there is none) the focus has been on raising funds and this poor quality financing is the best Duffers could come up with.

Despite claiming NNN has enough cash for more than 12 months. PANTS on FIRE

Twistorbust the investment is made on insights that say nothing is happening which doesn't concern Landstead because they get 20% of NNN on day 1 and irrespective of the share price going up or down they can profit selling the shares.

If NNN had any worthwhile news landing anytime soon they could and should have waited to news was announced got the SP up then raised money.

Clearly no NNN news anytime soon.