Open Orphan Share Discussion Threads

[1gw] 25/10/2022 18:18

It would be nice if that included sale / float of PrEP Biopharm.

Just had a look at the 2021 accounts on Companies House. It appears there is an unsecured director loan repayable to Jim Cornelius in April 2023, sitting in the liabilities at £666k at the end of 2021. He might agree to roll it over if he thinks a sale is imminent, given the way the loan works (convertible into preference shares upon "Series B fundraise or a Group sale or merger") but otherwise that might be a bit of a hard backstop given the state of the PrEP Biopharm balance sheet. I suppose the alternative would be hVIVO putting in additional funds, but that seems to be against the philosophy of not funding non-core assets.

[troutisout] 25/10/2022 17:42

With the name change and nearly a month since Mo bought, I reckon the choreography is all set up for some newsflow....

[yump] 24/10/2022 23:32

The signs were all there. No good blaming others if you took no notice or didn’t want to or thought you knew better or just didn’t bother to think it through or check up the history.

I was ridiculed by one of the supporters club for pointing out that a market cap aim was a red flag. Who on earth sets up a business with that aim, other than some sort of financial player.

If it was an aim to have a £10mln revenue business, that would be different. But market cap means the CEO is focussing on the share price, not the business.

Market cap speak is to attract investor money imo.

[goforgold1] 24/10/2022 18:54

Order book means nothing with out profit . You can be a billion pound company but if your making noProfit your going bust . Plus there being investigated as well . Looks like insider dealing no institution will touch this . Constant selling as well Richardson link . This has DVRG written all over it . They all know each other and are friends for at least 5 years or so .

[yump] 24/10/2022 18:45

I don’t know why there is a puzzle about CF’s approach. He started off by making it clear that it was a market cap he was aiming at.

What sort of an entrepreneur, capable of building a business, has a market cap as an aim, rather than an goal based on product or service growth and success ?

[chica1] 24/10/2022 14:35

It would seem Cathal Friel has moved on to other projects.
Hopefully he steps away from Poolbeg as well.
He totally destroyed hundreds of shareholders (moniman aka muchodinero included but he's delusional)by his misdirection.
Let's hope Mo can turn it around!

[zeus19] 23/10/2022 21:34

70m order book, 20m+ in the bank and profitable.But you think its a scam company going to the wall.... Ok then LOLZ

[goforgold1] 21/10/2022 13:01

Another Scam company going to the wall . Bust very very soon . Selling constantly means only one thing to any company . Not going to survive

[chica1] 21/10/2022 12:30

Bring Bojo back🤪㊌0;🥸🤯..Even the anointed 1 Ben Wallace is supporting his comeback.Makes you wonder how good a Defence minister he really is.
This country is a laughing stock.
Unity candidate I think not!

[plasybryn] 20/10/2022 09:52

Good post on RBD - Cathal Friel essentially set up Open Orphan (ORPH) which is about to change it's name to HVivo which is one of the parts of the company. He has brought the company to profitability from the original loss making HVivo that he acquired.He promised the earth and the share price hit 47p, but so far he has only delivered manure and the share price is now 10p'ish.He did buy a huge chunk of shares at about 27p I think, so he is well down on his own investment.He clearly wants to deliver shareholder value and I doubt he is one for asset stripping a company, but he has failed to deliver many of his promises over the past 2 years or so.They managed to list an asset that the company owned and created Poolbeg (POLB) which is looking to acquire early stage drugs or delivery systems and develop them and sell on. Was listed at 10pps with a 9 month lock-in, share price now about 7p but dropped as low as 4.5p. That one could be a winner.

[currypasty] 20/10/2022 09:22

isnt running ORPH a full time job?

[judijudi] 20/10/2022 07:32

Interesting that our ex CEO and now current NEC is involved here

[troutisout] 20/10/2022 07:26

I bought some more the other day, as I believed that with the re-name would come a re-boot, the early signs of this are now being announced, some newsflow as they become listed as Hvivo would also be welcome.

[supernumerary] 19/10/2022 20:27

lol. TLY's doing great - that divi grows in percentage terms with every day that passes!

[grumchum] 19/10/2022 20:15

A rare up day for ORP, could we not just be allowed to enjoy it? How is TLY doing?

[sikhthetech] 19/10/2022 20:05

As I've said before, who's pulling the strings?. It's still CF.

"Cathal remains fully committed to the business and will continue to work closely with Mo and Stephen going forward with particular focus on strategic initiatives for the Company."

""I look forward to continuing to work with Cathal as we build on the progress that both the Company and the entire team have made over the last three years.""




The gang will always suggest any change is good.

[supernumerary] 19/10/2022 19:45

Or maybe he's just left because they wouldn't give him options? That would get a big thumbs-up from me.

[marvelman] 19/10/2022 15:25

Thanks GW...aprreciated (and pleased)

[1gw] 19/10/2022 14:24

And that's backed up by the RNS announcing his appointment (27th Feb 2020) which stated "Leo Toole does not hold any shares or options in the Company." together with the lack of a "Director's dealing" RNS (that I can see) for him since then.

[1gw] 19/10/2022 14:17

He doesn't appear to hold any as far as I can see. Under Directors' interests in the Annual Report for year ending 31st December 2021 we have:

"The interests of those Directors serving at 31 December 2021 and as at the date of signing of these financial statements, all of which are beneficial, in the share capital of the Company Open Orphan plc were as follows:"

with only Cathal Friel (7%) and Prof. Brendan Buckley (1%) listed.

We also have no options:
"As at 31 December 2021 no options had been granted to Directors."

CF holds some warrants.

If that's correct (no equity interest held by Leo Toole) then perhaps that's one of the things that counted against him...