Bioseek Share Discussion Threads

[buywell2] 18/5/2012 13:03

So why did the share price crash back ?

[spaceparallax] 18/5/2012 13:00

Fair enough update

[buywell2] 18/5/2012 12:58

There you go .... blimey there are some ifs, buts, maybes, don't knows plus a few more

My reading of this is that NOBODY is looking to BUY anything

They are waiting for the administrators

Then they don't have to deal with the ATD BOD


So from 2nd place advfn riser back to zip






18 May 2012



Asterand plc

("Asterand" or the "Group")

Interim Management Statement



Asterand plc (LSE: ATD), a leading global supplier of human tissue and human tissue-based research services to pharmaceutical and biotechnology companies engaged in drug discovery research, today issues its Interim Management Statement.

Since 1 January 2012, the Board has been focused on resolving the funding crisis that arose in the fourth quarter of last year. As previously announced on 30 April 2012, it has not been possible to find a single buyer for the whole Group and, instead, the Board has focused on securing buyers for the constituent parts of the Group. Negotiations regarding the sale of the non BioSeek Tissue based Solutions ("Tissue") business are continuing and the Board expects that a circular, seeking shareholder approval for the sale, will be sent to shareholders in the next few weeks. The Board also continues to explore a number of alternatives in respect of the BioSeek business including the continuation of the business on a stand alone basis or the sale of the business after the potential disposal of the Tissue business. In an effort to reduce costs, the Board is also considering whether or not it is appropriate for the Group to continue as a listed company following a disposal of the Tissue business.

Despite these distractions and volatile trading conditions, revenue for the period ended 31 March 2012 is flat over the previous year, although the mix has changed with Tissue revenues improving and BioSeek revenues declining. Cash remains tight and the Group continues to manage its cash flow carefully in order that it may have sufficient funds to complete a transaction for the Tissue business. The Group maintains a constructive dialogue with its major creditors regarding the settlement of its secured loans, in which regard Asterand remains in default, and believes that it continues to receive the support of its lenders during this process.

Shareholders should note that the proceeds from a successful disposal of the Tissue business should enable the Group to repay its secured creditors but that its cash resources will not be sufficient to cover transaction costs and retained liabilities. Further funding will be required after the disposal of the Tissue business to sustain the BioSeek business on an ongoing basis or until a sales agreement for the business can be reached.

Shareholders should be aware that the completion of any disposal or the securing of additional funding for the Group is not guaranteed.

Further announcements will be made in due course.

[buywell2] 18/5/2012 12:52

I don't ... How many do you hold ?

[spaceparallax] 18/5/2012 11:24

You know that I do, whereas you just prefer to prattle on with your shorters agenda.

[buywell2] 18/5/2012 09:26

Do you own shares in this POS space ?

This company has breached it's banking covenants

It has no future as a continuing business

Staff will have left/be leaving to find jobs

No new clients will be signing contracts for work which will never get done

Debts will be mounting

It's future is measured in weeks at best

A weekly update is the absolute least this pathetic BOD could provide the investors they have left .... they have failed miserably





Funny enough this share will now probably hit the advfn risers board as from just over a penny 1.25p a 0.5p jump equates to circa 40% rise approx .... bit like Plus Market

[spaceparallax] 18/5/2012 09:20

Given that we had an RNS just a fortnight ago, it's hard to see that much more might be available yet.

[buywell2] 17/5/2012 19:21

Down 23% and missed the advfn fallers board by 1%

One would have thought the BOD would be keeping long term holders of this stock a bit better informed at this what can only be now described .... terminal stage of the proceedings so that some might still be able to walk away with something ..... after what can only be descibed as a textbook example of appalling mismanagement .... how do these people get the jobs they do ?

Without URGENT further weekly updates the drift downwards could continue .... it does not help the BOD get the best price .... ie negotiations start with the Mkt Cap being dicussed at £1.4m ..... which is now way below the debt level which is probably running at over 4 times that at £6m

It would seem some folks don't care

[spaceparallax] 16/5/2012 11:11

The Catholic Church eh - interesting that you should choose to align with them.

[spaceparallax] 11/5/2012 09:05

Lol! so transparent

[buywell2] 10/5/2012 15:49

Today 60k BUYS and 517k SELLS .... note the volumes ramping up on the chart above over last 3 days trading

Latest trades Time Price Volume Block Price Bid Ask B/S Type
13:22:52 1.69p 22,500 £380 1.5p 1.75p BUY O
12:22:23 1.5p 250,000 £3,750 1.5p 1.75p SELL O
12:15:01 1.55p 3,324 £52 1.5p 2p SELL O
12:08:22 1.55p 489 £8 1.5p 2p SELL O
11:52:36 1.55p 6,586 £102 1.5p 2p SELL O
11:47:36 1.55p 64,193 £995 1.5p 2p SELL O
10:40:40 1.7p 57,742 £982 1.5p 2p SELL O
9:10:05 1.7p 28,680 £488 1.5p 2p SELL O
9:00:45 1.5p 2,250 £34 1.5p 2p SELL NT
8:57:48 1.7p 10,000 £170 1.5p 2p SELL O
8:55:49 1.7p 14,193 £241 1.5p 1.75p BUY O
8:28:04 1.7p 23,119 £393 1.5p 1.75p BUY O
8:15:08 1.6p 94,198 £1,507 1.5p 1.75p SELL O

[buywell2] 09/5/2012 09:13

293.4k all SELLS


Latest trades Time Price Volume Block Price Bid Ask B/S Type
16:18:39 1.73p 110,423 £1,910 1.5p 2.25p SELL O
16:10:42 1.73p 27,319 £473 1.5p 2.25p SELL O
13:10:22 1.73p 50,000 £865 1.5p 2.25p SELL O
12:16:31 1.73p 5,187 £90 1.5p 2.25p SELL O
8:40:13 1.74p 28,076 £489 1.5p 2.25p SELL O
8:16:02 1.73p 44,940 £777 1.5p 2.25p SELL O
8:15:56 1.73p 27,500 £476 1.5p 2.25p SELL O

Debt is higher than asset worth I would now imagine since the previous 'intangible worth' has been wiped out .... wonder how BioSeek will play it

[spaceparallax] 08/5/2012 17:45

On the other hand a large BUY order could be being filled

[buywell2] 08/5/2012 17:44

80,000 SELLS today at 1.76p V 37,000 BUYS and the MM's mark it up

''Wrong footing'' and ''garden paths''


Latest trades Time Price Volume Block Price Bid Ask B/S Type
11:32:42 1.76p 50,000 £880 1.5p 2.25p SELL O
10:49:35 1.98p 4,925 £98 1.5p 2.25p BUY O
10:34:20 1.76p 9,000 £158 1.5p 2.25p SELL O
10:08:33 1.76p 20,000 £352 1.5p 2.25p SELL O
9:52:15 1.99p 13,384 £266 1.5p 2.25p BUY O
8:08:58 1.93p 10,000 £193 1.5p 2.25p BUY O
8:02:45 1.95p 9,595 £187 1.5p 2.25p BUY O
8:01:06 1.76p 134 £2 1.5p 2.25p SELL O

[spaceparallax] 04/5/2012 12:46

and yet amazing how much time you spend posting for someone who claims not to have an interest. If it walks like a basher/shorter and talks like a basher/shorter then all evidence would suggest that's what it is.

[buywell2] 04/5/2012 11:19

IF any 3rd party emerges .... then they will not give a hoot about existing shareholders .... they will be weighing up the various debt obligations V the asset worth at MINUS 75% of present book value MINIMUM. I just can't see hardly anything left when the hardball game gets played.

The technicals for this stock have taken a turn for the worse as one would expect .... 2 Bullish but 8 Bearish

27 Apr 2012 Commodity Channel Index W Short-Term Bearish
26 Apr 2012 Short-term KST Short-Term Bearish
20 Apr 2012 Price Crosses Moving Average W Intermediate-Term Bearish
18 Apr 2012 Price Crosses Moving Average Long-Term Bearish
13 Apr 2012 Momentum W Short-Term Bearish
16 Mar 2012 Double Moving Average Crossover Intermediate-Term Bullish
16 Mar 2012 Williams %R W Short-Term Bearish
06 Jan 2012 Intermediate-term KST Intermediate-Term Bullish
27 May 2011 Double Moving Average Crossover W Long-Term Bearish
06 May 2011 Price Crosses Moving Average W Long-Term Bearish


It looks like the share will bang around the current 1.75p to 2.25p range till the next update.

Been a strange road to travel for ATD shareholders I can imagine .... lucky for me the ATD share price chart kept me away ..... they are very good I find.

dyor

[spaceparallax] 03/5/2012 13:18

not if finance can be arranged

[buywell2] 03/5/2012 11:22

Et Voila .... I refer to my post made the day of the results

''So IF the potential buyers delay .... then at some point the administrators get brought in

Then the bits get even cheaper

Why should any buyers rush to make offers ? ''



RNS Number : 5853C
Asterand PLC
02 May 2012

Update on Disposals

On 30 April 2012, the Company announced that it had signed separate letters of intent to sell each of its two businesses: BioSeek and the non-BioSeek Tissue Based Solutions ("Tissue") business. The potential bidder for the BioSeek business has now informed the Company that it will no longer pursue the acquisition and has released the Company from an agreed exclusivity provision.
The Board continues to make good progress with regards to the sale the Tissue business. However, the proceeds received from a successful disposal of the Tissue business may not be sufficient to satisfy all amounts owed on the Company's major secured loans, in which regard the Company remains in default. The Company maintains a constructive dialogue with its major creditors and believes that it continues to receive their support during this process.
The Board is exploring a number of alternatives in respect of the BioSeek business, including securing additional funding from a third party, with the intention of reaching an agreement alongside its potential disposal of the Tissue business.

Shareholders should be aware that the completion of any disposal or the securing of additional funding is not guaranteed. Further announcements will be made in due course.

Now in relation to this para
''The Board is exploring a number of alternatives in respect of the BioSeek business, including securing additional funding from a third party, with the intention of reaching an agreement alongside its potential disposal of the Tissue business. ''

My take on this , is that existing shareholders will get sweet FA





dyor

[spaceparallax] 02/5/2012 18:55

Looks like my prophesy may come true