RE: Volz Hvac19 Apr 2022 13:56
Dear Castle whatever you may expect, Volz and Pharm2 Farm have been in discussions since February 2021. It took 5 months before RNS 25 June 2021 stating “This new material has passed the Proof-of-concept stage and Volz and P2F are now looking at how this could be commercialised (for example, in heating, ventilation and air conditioning systems), although this is expected to take several months, with work required on moving from proof-of-concept to large scale production.”
Note, large scale production by January 2022 then. I appreciate the P2F guys were incompetent but if this was a winning value add to HVAC filters surely the Volz would have ordered the material and driven this forward on their own thereby being first to market with Covid killing HVAC filters.
The six months later the 10th Dec 2021 it transpires Volz can’t just buy the material from P2F as the RNS announced a JV, 99% funded by NNN . Whilst I cant see why a JV is required or why NNN provided all but £49.50 of planned budget all looked promising as the RNS stated “The JV agreement has been entered into on the basis of an agreed business plan and marketing and sales strategy.” Adding “Further updates on the progress of the JV will be made as and when significant milestones are achieved.”
Note “agreed business plan” which means making the bloody things and along the way you’d have expected updates stating ISO16890 passed, VDI6022 approved DIN53438-3 certified but NO, two months later on 10 Feb 2022 “The cost of converting the Volz production line is considerable. It has therefore been agreed that to save nanosynth having to inject cash into Virosynth to meet half the cost of this, it will instead provide a warrant over ordinary shares in the Company to the shareholders of Volz, namely; Rainer Volz and Jonathan Thornton.”
Did they not know it would cost money to convert the factory?? Was how this would be funded not already agreed in the business plan?? How detailed was this business plan?? How does giving two directors underwater warrants help fund the factory conversion??
There is a JV company which has a website albeit with a telephone number which does not work. That’s it, despite dealing with Volz for 14 months there is no sign of these world beating HVAC filters on Volz’s website, not a single word about them or the JV. NNN has posted 3 RNS’s which may be full of correct and true words but there are no dates, forecasts, no certifications or mention of a binding agreement Volz has to complete.
I do not expect this JV to go anywhere, IMO it is just BS.
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