Member Info for wakeyinvestor

According to the RNS they are set for recovery, at pace. Emphasis is made by using the words ‘at pace’ in the RNS. The current convertible loan term is extended to 31 December 2024 and I cannot see that this is conditional on the delisting resolution getting through. Even so the conversion price is 0.5p, currently double the SP this morning. It seems to me that at these prices this is a recovery play but the delisting resolution needs to be voted down. Don’t let them get your shares on the cheap when they are otherwise set up to get more shares for x2 at 0.5p. IMO and DYOR

Pip56 They aren’t going to cut of their nose to spite their face, the loan has been extended to the end of December 2024. This is a business set for recovery, at pace. They aren’t going to let it go bankrupt just because the delisting is voted down. That doesn’t make sense

But they haven’t got 75%, still around 17.5% short of that so hold on to your shares and vote it down. The business is primed for recovery which is why they are doing this IMO. Other recent examples of this are Parsley Box, Solgenics and Energiser to name only 3, there are more

The loan conversion will be at 0.5p well below current SP. Also, they need 75% of votes cast to delist but they’ve only got around 57% in the bag, presumably Bayford and Harwood so the delisting could be voted down. The RNS talks about there currently being a recovery in the business, at pace. It appears the true reason for trying to delist is to relieve PI investors of their shares at a rock bottom price now so the large shareholders get more of the pie later.

No cash left? Don’t be daft, they only raised it in May 2023 and have at least a 12 month runway from then and this assumes nothing else happening. If you’d said the cash burns quickly for this company you might have retained some credibility

Laura, they have a recent tie up with Microsoft that resulted in the SP going up around 4 fold. It subsequently fell back and there was a placing at 3p in May 2023. Unfortunately one of Odey’s funds was a significant participant in that placing and as a result of allegations against Mr Odey, the fund has dumped most, if not all, it’s shares towards generating cash to pay investment that wanted to exit the fund. As a result MIRI’s SP plummeted to 1p before recovering to around 1.4p. I agree that there is an opportunity here for PI’s and with a headwind of further positive news, hopefully this should help towards the SP increasing back towards 3p but I think it will take time despite Ria20’s best, but not so subtle efforts. Hopefully the cash burn is under better control. IMO DYOR

Good interview this afternoon on Proactive Investor- all sounds very promising and the case for divestment makes perfect sense

That was a massive pump and dump, but why on earth did it take so long for the company to issue the RNS? A lot will have been caught because of that delay. I was nearly tempted myself when it got to 9p but thankfully resisted the FOMO

Isthisawinner, they didn’t need funding as they have sufficient cash into early 2024 . A previous RNS referred to expanding into immunology. It’s about the strategy and not a dash for cash. As a result the company is well funded from here and the cash runway is significantly extended IMO.

The company had a cash runway until at least early 2024 and now it has been extended by $15.95m. Any cash Fund pressure is well and truly dealt with. No dilution and still 2 more that could yield significant milestone payments in the future.

Hall, you’re assuming IP wants to sell its 10%, but you don’t know that is the case. Or do you?

Hope so, the spread is nice and tight, got 1p for a dummy sale and just bought more at 1.005p. Just hope it doesn’t sink below 1p surely this is the floor now!!

Just done the same votes Yes to all the resolutions. Hopefully it won’t need a placing but if it does then so be it.

Needs more market awareness, another interview on Proactive Investors perhaps. Just raise the profile of the company a bit more and the SP should fly. IMO and DYOR

It should do, and cash position should be eased with first distribution of GraftBio SNEDDS going next week and revenues start to come in from that. Doubt there will be a placing as has been suggested and looking much better for debt funding as required to support the expansion strategy. IMO a bargain entry price DYOR

£4 seems to be a ceiling, it can get there quickly enough but then can’t get past. Strange.

Prelude to a cash raise I think. There have been project delays and the trading update today, while it reads very well, there is no mention of the cash position.

Mannon, that assumes you bought! I’ve just bought 209,844 @1.189p so putting my money where my mouth is, Hope spread doesn’t er spread.

Think you just got yourself a bargain, market cap £6m cash raise in May £9m. They need to get a handle on cash burn. Also not yet borne the fruits of the AI tie up with Microsoft. If Oder is going to offload then perhaps they’ll wait until the SP recovers from here. It wouldn’t make sense to dump now unless it was the dump of last resort. I bought in at 1.5p last Thursday so waiting to make sure we are near or at the bottom before topping up.

We’re waiting for news on the diamonds AP, any other good news (such as todays) is welcome but until we have a positive outcome on the diamonds the SP will stagnate. IMO Squeaky bum time …….