Tired and Confused
05 May 2018
Why raise money at 2p Issue of new shares increased dilution by about another 10% or so to add to the over 700% dilution since the shares where consolidated by issuing 1 new share for 125 old share back in mid 2015. You do the maths, my calculator runs out of decimal points 
Novum, our sparkling new brokers, have been granted one big fat warrant for 1,800,000 new shares at 2.5p. Lets be clear, in true Beaufort (some say they were crooks, not me) style and if they are working on a similar basis, this is pretty much a cast iron guarantee that the share price is going to be driven back up with enough news to give Novum time to convert the warrant for shares (giving VAL 1.8m x 2.5p in cash) but most importantly, the share price needs to be quite a bit higher for Novum to sell in the market and get out with a profit. My guess is this is what Beaufort did time and time again. There is, off course, the matter of all those undemanding options as well, 20,700,000 of them to be precise.Of these 17,300,000 were granted on the 9th February 2018 at the highly ambitious price of 4p The remained, and much smaller amount, were issued at various dates and 'are exercisable at a price between 43.125p - 125p' As previously mentioned IMHO, the options are effectively worthless because VAL management know that the share price will never in a million years get to 43.125p, let alone 125p because of the insane dilution. So they have done the decent thing and lowered the bar to ensure 'snouts in the trough time' comes for them even though long term holders will never benefit because they have been diluted out of existence and have average share holding prices much higher than 4p. I am certain everything has been conducted inline with the law of the land and I do not cast any aspersion about the way funds are, or have been, raised in the past from a legal perspective. I am sure everything is totally above board and there is no collusion or any hint of insider dealing which, of course, would be illegal. VAL and NOVUM are both reputable companies and I have no reason to assume or consider, they would act in anyway, which was purely in their interests or by doing so put their needs over and above those of the shareholders.This fund raising is good news for those holding at an average price of 3p to 4p, maybe a little higher because you can sit and just wait for the news to happen. IMHOThe usual twaddle about increased levels of efficacy or nebulous comments about discussion re farm out, merger, high level talks will probably do the trick. It's just a matter of when, not if IMHO. It is also possible we will get transformational news.So come Tuesday, there will be a few discouraged investors hovering over the sell button who were expecting the pay off news and got this instead. The MM will know this and they will also know VAL will have 'news' at some point, up their sleeve, which will move the share back up again. So I expect them to mark VAL down early, regardless of volume to shake a few shares into the market. My guess for Tuesday is sub 2.5p on opening at which point I will top up, safe in the knowledge a bounce is going to come. IMHO. I will not buy anymore unless they drop to sub 2.5p. I have consistently set this as my top up target, nothing has changed.The obvious time for news is the AGM on the 8th May at 10.00am, this give just 2 hours of trading between now and then so the window, if there is one, will be very short, again, assuming there is some positive news to come.It will also be very interesting if we see lots of buys regardless of the share price, in this 2 hour window. Now I'm not suggesting AIM Companies are leaky but.....So, all in all, not what many wanted but pretty much what long term holders expected. Opportunities will present themselves. IMHOGood Luck All, however you play it but my view is sell, if you can, on news.AIMHO and DYORCurrently holding 100,000 'free shares' and hoping to get
Small Holding
04 May 2018
VAL: Please change the wording of future RNS's From"London, UK., 04 May 2018: ValiRx Plc (AIM: VAL), the clinical stage biotechnology company, is pleased to announce it has conditionally raised"to"London, UK., 04 May 2018: ValiRx Plc (AIM: VAL), the clinical stage biotechnology company, wishes to apologise for shafting private investors yet again as it has conditionally raised"Ultimately the result is the same but at least you will feel better about yourself for being honest.
clockwurktangerine
04 May 2018
Useless val bod If there was a jv or to the placing would not have happened!No one is interested in vsls products/theoriesQuality is not listed UCL.ac.uk!
Small Holding
04 May 2018
Good timing 16
0 on a Friday afternoon, the salary account needs topping up.All this rubbish about finally realising shareholder value from smug George, yet again it is more share dilution.I was expecting one more positive RNS before they came out with the begging bowl but obviously one's bills have to be p
Taddish
04 May 2018
Re: If funding is to come...... Ah , the company is yet again pleased to announce that they have shafted the buy & hold brigade again to pay for their next 6 montgs’ Salaries. Isn’t it about time that the naive optimists stop knocking T&C for his sincere efforts to warn people of the way things actually work.Buy now at 2.5p and you’ll have a reasonable chance of making a capital gain, but always , always sell some when the price spikesTad
Tired and Confused
04 May 2018
Re: If funding is to come...... I do hope you right, I'm a shareholder! Trouble is thisShares in issue2011 - 945.5 2012 - 1,288.1 2013 1,733.1 2014 - 3,854.7Then we had the 1 new share for every 125 old share consolidation (RNS dated 22nd April 2015) Since which we have seen the reduced number of 'new' shares grow as follows. 2015 - 31.8 2016 - 57.72017 - 407.4Reality is the number of shares in issue has increased by 706% between 2016 and 2017. Put it another way, had they not consolidated the shares in 2015, there would now have been 50,950.0 Million shares in issue. VAL went public on the 29th September 2000, have you any idea just how much money they have taken to fund, what was clearly an uninvestable proposition until recently. That's by their own admission because they proudly announced recently that they were now an 'investable proposition' in an update, a statement which was just about a crass and insensitive to all those poor suckers who have pumped money into them for years, money which has funded inappropriate wages, given the results delivered, whilst at the same time they have squandered equity value with placings which have been so onerous that it has completely destroyed any real hope of long term investor ever recovering a fraction of their initial investment, let alone, any chance of making a profit.This insult has been compounded recently with the issue of more undemanding options to buy obscene number of share at 4p proving they have given up all hope of previous options ever delivering for them. They should be thoroughly ashamed of themselves.What should have happened, years ago, was VAL should have folded the business when it was clear they could not continue to fund it ethically, with shareholder interest in mind. No doubt, they could have sold their research to a large pharma for a small amount, at which point investors would have lost everything. That would have been fair. Investors take risks and should expect some investment, not to pay off. Instead of being straight and fair, they have continued to fund VAL through the most desperate and ill advised placings a fundraisings, often with obscene grants of options/warrants? as inducements to 'get them away' (for fear of compromising any investigations into a particular broker which may or may not be ongoing, I will say no more)VAL would have been bust years ago had they not been prepared to totally destroy all investment value made before 2015, Seed investors and those investing between 2000 and 2010 ish, now have shares worth a tiny fraction 1%!!! of what they originally invested. Anyone who was invested from 2010 is to 2015 have done microscopically better but it still, in real terms, counts as an almost total wipeout because of the dilution. Then, since 2015 we have seen a further 700% dilution of the new shares.VAL has been and is one of the worst and least ethical examples of how investors, a lot of whom were and are PI's, have been cajoled into throwing good money after bad by enthusiastic RNS and updates into believing they were onto a winner. Reality is, only those who have averaged down over the year have got out without loss.In my case, my original investment was about £500, a small punt and long after the IPO in 2000. the time I got out on a profit which allowed me to retain just 50,000 shares, I had ploughed nearly £17,000 in which I finally got back when the price spiked to 7p on 'news'. Had I of original put in £5000 there would have been noway I could have averaged down, you can do the maths!I'm one lucky guy, and one of a tiny, tiny number of PI's who have held for more than a few weeks or months who have ever escaped the death spiral which has been investing in VALVAL have good products NOW, they are hopefully going to deliver a product which will benefit people suffering with dreadful diseases. That is to be applauded but the means to this end have been littered with unseen and abused financial casualt
dickie3times
03 May 2018
If funding is to come...... .....then it probably will come soon. So as long as there is no Rns for new funding, the chance of a farm in becomes stronger. The reasoning is simple, in the past VAL were always quick to issue a placing after a good update. The longer we go without one, is an indication that VAL finally are going to do shareholders justice by announcing a major deal............any deal with any pharma, will lift the share price back to post consolidation levels, ie 40p +
clockwurktangerine
02 May 2018
jv or to All a con...
Tired and Confused
02 May 2018
Worth a read www.hardmanandco.com/research/companies/valirx-plcApologies if posted before but given my hostile stance towards the financial management of the Business it's also fair to say that they've some promising compounds and it's really such a shame that the clinical progress isn't reflected in how VAL is funded, which in my opinion is nothing short of appalling.AIMHO and DYOR
Tired and Confused
02 May 2018
Re: Curtesy valju lse site I do believe I've just read a fairytale!the BOD issuing themselves 4p options tells you all you need to know about the aspirations they have for the share price!These 4p options effectively replace earlier options which I presume they have given up on, given the massive share dilution. Maybe our new broker can help them secure new funding on better terms? Hmm, not sure about that, they don't exactly look cutting edge to me (see my post yesterday).The share price is where it is because those who have taken a look at the business haven't, to date, made an offer which has caused it to re-rate. Unless we see the shares moving forward significantly, existing shareholder will be clobbered again. VAL will give away further huge percentages of the company by issuing new shares, in such large numbers, to continue funding wages and research. This simply cannot continue.The best option for everyone is for VAL to be bought out lock, stock and barrel by a big pharma. If they get the chance, they should take it. AIMHO and DYOR
fredd1eboy
01 May 2018
Curtesy valju lse site will take a bash... I reckon the BoD do not want to let go of a life's work and are trying hard to get the "Big Pharma" to sway to their wants, but the "BP" has the cash and that at present is the problem?So, they have asked for a double the share cap request at the AGM, so that when the news of who they are considering is made public, most likely just before or even on the morning of the AGM, the sp rockets to around 50p!Meaning with an immediate cashing in of extra said 407 mil ish... gives them 200+ mil to complete the work on their own, tell "BP" to take a walk..... and hey presto, on successful completion of pills to market, Val goes on to be the most successful mini bio in history! Eventually reaching an overall sp of around £1.25 mcap before it buys GSK and AZ
Johandesilva
01 May 2018
Re: Heading back to 2.5p? We knew shorter-term funding was always the risk. But with the large trades at 3.7 and 4p in recent days I have not reduced as much as I thought I would.
clockwurktangerine
01 May 2018
To or jv? Neither just more dosh needed!!!Useless
Tired and Confused
01 May 2018
Heading back to 2.5p? Looks like we will be back to 2.5p maybe lower after the next round of dilution and fund raising soon to be needed? to support wages lacking in any performance criteria/versus results for shareholders, IMHO.What's the betting the next lot of fundraising VAL announce with 'delight' will be with lender of last resort?If we are to take the allusions dribbling out from VAL about a partner seriously we really do need to see something concrete soon. I'm not holding my breathe!Watch out for the next lot of encouraging results from trials, this is usually a precursor to a 'snout in trough' money grabbing event.AIMHO and DYOR
Tired and Confused
01 May 2018
Our new brokers Novum Securities LTD our new Brokers (hastily appointed after the sudden demise of Beaufort) have been very quiet since their appointment. I do hope they have been working away on our, the shareholder behalf. Their website is not very illuminating ?[link] I thought I would go and have a look at the public records available from [link] is link to the latest filing of their accounts (As far as I can see). Always interesting to see how the firm supporting and advising VAL are doing, don't you think? The following is only for information and I am not an accountant. Make of this public information what you will. I have no opinion and would welcome any analysis a more qualified person might be able to give. It does worry me that the firm according to their accountants seems to have (or had) 'material uncertainties which may cast significant doubt about the Group's ability to continue as a going concern' (Novum that is, not VAL) This was taken from the independent auditors report contained in the accounts submitted on the 19th September 2017. Again, I am not an accountant, I am not qualified person and it would not be fit or proper from to try and interpret this information and I would welcome any analysis a more qualified person could give me. As a shareholder and investor I am interested in all aspects of VAL's business arrangements.[link]
