Sphere Medical Share Discussion Threads

[timbo003] 21/2/2017 23:13

Richard Wright (CFO) showed a slide with an expanded version of the major shareholders earlier today at the Proactive Biotech Capital meeting which CC may find helpful for his detective work on identifying who might be selling down their holdings (see below)

The Proactive presentations (including Q&As) were filmed, so videos should be available on the proactive site within a day or two. Not surprisingly, there was no new news at today's meeting, but there were a few new nuances gleaned after the meeting when I talked to RW. I shall endeavor to write up a few notes on the chat with RW shortly, but it has been a very long day with another investor meeting this evening, so it will probably be tomorrow rather than tonight.

[cc2014] 21/2/2017 09:23

No RNS but proof that RLAM were the seller.

[del44] 20/2/2017 22:18

I take it....it is our CFO doing the presentation tomorrow.
Good luck as ever there Tim.....again appreciate any input you may have from the event....
An early RNS tomorrow morning would be nice as other wise....I can't really see anything new been mentioned.......
All the best Tim...

[timbo003] 20/2/2017 21:51

>>>Del

I assume that would be for the completion of the fund raise (Placing and open offer) in May 2015, if so, it seems overly generous, especially given the bad news which soon followed, i.e. Ortho walking away in August 2015.

It wouldn't surprise me if he is awarded another big bonus this year for either CE approval of Proxima 4 and/or first commercial sales of Proxima 3.

[del44] 20/2/2017 21:31

Rencken got a performance related payment??????
Have I missed something?
What was that for?

[timbo003] 20/2/2017 09:19

An aide memoire for tomorrow's meeting:

From the last annual report (year ending Dec 2015).........

[longshanks] 20/2/2017 06:22

Too many people give MMs a hard time.The price has fallen to where it is because someone (presumably RLAM) wanted to dump their holdings and weren't too fussed what they got paid. They settled to sell at 5p - a fraction of what was paid.The MMs have dropped the prices to make a market in those dumped shares, that is all.Investors at the conference will want to see evidence that the company has a product with a viable market. The number of sales achieved so far and the desertion by one II suggests they don't.Tim is right to question the BoDs lack of "skin in the game". That lack of hunger by the well remunerated leadership team seems quite evident to me.

[cc2014] 19/2/2017 22:13

What's going to happen tomorrow then. Once day before the conference and the price was locked down all day Friday. In the end the MM's did get hold of a few shares but my sense is they are looking for far more.

[del44] 17/2/2017 16:35

The notification of this presentation was only recently put up on the company's website and I know you are attending Tim.....so hope you can come back with something different....
I thought this presentation was just another Proactive investor presentation.....apparently it is not......

The Biotech Capital Conference The City’s premier conference for listed Biotech companies

Biotech Capital is the leading investor conference that unites the City’s Biotech investors with management from some of the most exciting and fastest-growing healthcare companies. Biotech Capital is now firmly established as the largest healthcare investor conference in the UK and is hosted at: The Brewery (52 Chiswell St, EC1Y 4SD). Biotech Capital is institutionally focussed and is aimed at asset managers, private client brokers, family offices, and wealth managers. It is also open to the high net worth community.
We are delighted to bring you the Biotech Capital Conference.

The Biotech Capital conference is an investor focused event that is being held at: The Brewery (Chiswell Street, EC1Y 4SD), in the heart of the City.
The conference is aimed at healthcare private investors, investment managers, private client brokers and analysts whom want to gain exclusive access to the management of some of the market’s most interesting, high-growth companies.

I wonder if SVB has had a hand in this appearance??

[del44] 16/2/2017 14:10

I do admit...it certainly looks like them (RLAM)
But I really wish the AIM would sort this waste land out as it does no good for reputations that such large amounts of a company's own shares can change hands, with no notification....
Seriously undermines PI confidence.....

[cc2014] 15/2/2017 19:12

So, have RLAM sold or not. In my view absolutely. Here's my thinking on this.

First the reporting rules. A holding over 3% must be reported when the threshold is crossed. And again at 4%, 5% etc. Also the reporting is the same when you move down from 4% to 3% etc. There are some exceptions - a market maker is allowed a higher amount to protect their business a MM.

RLAM wouldn't have any been an exception. The pic below is cut and paste from Sphere website. One from now and one from a nearly a year ago.

You can clearly see their holding has dropped by exactly 200k and moves from 4.0% to 3.8%. This in itself should have been reported but it hasn't. Fact. What makes us think as they haven't reported the move from 4.0% to 3.8% they are going to report any other move?

I suggest they managed to shift three further 200k blocks taking their shareholding from 5,424,185 to 4,824,185 which gives you exactly the value of the trade reported on 1st February.

Is it reasonable to assert a trade ending in 24,185 is enough to mean it's RLAM. I think so especially when you know they had already dumped the first 200k.

[del44] 15/2/2017 15:35

Tim....
When you get that mike...don't give it to anyone else, you hear me...:-)
Cheers my good man!!

[cc2014] 15/2/2017 13:10

Bit by bit the price is creeping up as the buys continue. The chart at the top looks good and we are getting the classic turn on high volume off what is now a double bottom.

[timbo003] 15/2/2017 06:44

>>>Longshanks, agreed results on February 28th are likely to be lack lustre, but the directors will be out of their closed period and if we don't see them filling their boots with shares at these prices they will be getting it in the ear big time from me. In fact if I get the opportunity I will put the CFO on the spot at this event next Tuesday (which will be filmed and available for prosperity on the Proactive web site)

I intend to ask him about his current meagre share holding and about his intentions to remedy the situation when out of the closed period on the 28th. There's nothing quite like a public shaming!

[longshanks] 15/2/2017 06:16

I am sure that if there had been sales, we would have been notified about them already.FY results will be rather dull, I fear.

[cc2014] 14/2/2017 20:33

Last 5 trades of the day all at the full ask of 7.0 and 425k more buys than sells. Getting there slowly.

[del44] 14/2/2017 13:48

We could have sales but just not released any news yet and most likely will do when the FY results are out. New technology is always going to have an up hill struggle to break into the normal bollod gas bench tops that are currently used all around the world. It is a highly entrenched position in hospitals.
We need some luck here. Someone with influence to be awae of Proxima'a existeance.
Market name penetration is very low and as Hastings has posted....you need money to do that. That is why the SVB loan could prove crusial at this point......

[cc2014] 14/2/2017 13:00

It's trying so hard to move up but it just can't quite do it yet. The buyers keep appearing as if someone knows something but as far as I can tell there's no news out there to justify this.

It's clear we have buyers at 6.5 and it's interesting that to buy you couldn't within the spread even with a 1p spread.

Maybe another few buys will do the job. Fingers crossed.

[cinquepercento] 13/2/2017 18:19

hastings and CC214

Thank you for your feed back re: why no decent/high volume sales in UK yet.


Cinquepercento

[cc2014] 13/2/2017 13:55

Which is why sales will come from Europe first(Benelux and Germany)

[hastings] 13/2/2017 09:03

I'm afraid it's down to a combination of excessive layers of management and a lack of money.When I interviewed the CEO last year he stressed frustration at the time involved in seeking adoption and the various levels of people involved to make a decision.Lack of funds for new tech and a reluctance to adopt for whatever reasons make for a difficult environment in which to break through.

[cinquepercento] 13/2/2017 08:34

Given that this device seems to be well designed etc and beneficial in many ways to efficiency and patient care and costs etc...........

Why have hospitals in the UK been so resistant to buying or leasing it?

What is the problem?

Are hospitals trying to protect jobs and putting efficiency at a lower priority?

Have free trial/units been offered extensively to these hospitals?

It would seem that sales staff have failed to reach the right people who might push deals through.

I don't understand the apparent resistance to what seems to me to be a very good product.

I find it difficult to believe that not one hospital has signed to this device in useful quantities

Whatever the sales staff for Proxima are doing,it is not working so a much more agressive and different approach should be made.


Cinquepercento.

[sep800] 12/2/2017 16:30

Proxima Product looks very up to date ready for the launch. This will excite the markets with firm orders to be announced, good news coming end of the month.

Copied link below from LSE board

[sep800] 10/2/2017 14:55

Lets see the results due 28th Feb 2017

[del44] 10/2/2017 14:29

Fair points waterloo01.......I suppose if they can hopefully get that high profile customer that can begin the sales movement.......
But suspect any take over will need some proof that it is worth marketing....