Itaconix Share Discussion Threads

[dexdringle] 19/10/2023 09:32

She must have found a few quid down the back of her settee.

Seriously, what's the point of a director buying £1,500 quids worth of shares? It's embarrasing.

[parob] 19/10/2023 07:29

Director/PDMR ShareholdingsItaconix (AIM: ITX) (OTCQB: ITXXF), a leading innovator in sustainable plant-based polymers used to decarbonise everyday consumer products , announces that Laura Denner, Chief Financial Officer of the Company, purchased 1,276 ordinary shares in the Company on 18 October 2023 at a price of $1.85 per ordinary share.

[lefrene] 13/10/2023 09:16

T doubt the £10 million is just sat there, some of it will presumably be going into expanding capacity, but yes the market cap does seem low when the cash, the patents, prospects, and existing level of business is considered.

[parob] 13/10/2023 08:50

ITX has been flatlining for a couple of weeks now. Once we get a blue day, other buyers will have more confidence to buy in imo and we should hopefully see a recovery to a more sensible market cap. Current market cap just under £20m.£10m cash. So EV of just £10M currently. And of course £8M revenues that are growing. Profitability in sight.I feel sorry for all the investors who were enticed by PATT over to ENET, some sold loads of ITX to buy them. ENET was suspended yesterday. Rotten for any holders. Really do feel for them (apart from PATT as KARMA has come back to bite him after spending his life trashing other people's shares).

[rivaldo] 06/10/2023 07:38

The Amati AIM VCT have today issued their interims to 31st July, and they disclose they made two investments in the period into companies already quoted on AIM. One of these was a £2million investment into ITX as follows:



"Investments through secondary placings in existing AIM companies involved Itaconix and Cordel. The former is a US developer of a plant-based polymer used to decarbonise everyday consumer products. The company has been on AIM since 2012, but only achieved commercial breakthrough in 2020 with a bio-polymer ingredient for dishwasher detergent. Close to 150 consumer products now use Itaconix ingredients, involving major retailers such as Amazon, Walmart, Aldi and Tesco. With opportunities to grow into personal hygiene and beauty products, the company is forecast to breakeven in its current financial year."

[parob] 03/10/2023 10:23

Have we bottomed? share price is right at the March 22 low when it bottomed and started climbing. Price was around 3p then, 150p equivalent, and the business is in a much stronger position now. Considering how much cash the business has the EV value is pretty low and makes the business vulnerable to a bid imo.

[lefrene] 26/9/2023 15:40

For the person who wanted to buy at 150p, there you are, Mr Shaw has delivered the opportunity.

[lefrene] 26/9/2023 11:03

Don't worry Mr Shaw is happy in the lab, he doesn't have to worry about grubby things like actually selling stuff!

I presume IP Group have a chat most weeks, they will be wanting to see something in return for all that dosh, no doubt Mr Shaw will get around to it in his own good time.

[geraldus] 24/9/2023 09:59

Velasoft BR300 for damaged hair was supposed to have been launched at the end of last year.As far as I know it still hasn't, and I have not seen.or heard anything about it.

[lefrene] 22/9/2023 18:38

Quite so, just what did he say? Presumably confident of something or else why bother consolidating to get on the OTC?

One hopes something good is in the offing, and then almost everything will very nearly be forgiven!

[geraldus] 22/9/2023 17:53

As excited as JS was at the time of the fund raise,with the recent statement I can see nothing outstanding medium term.Still reliant on ADW and a very poor contribution from Croda and Nouryon.Composites and superabs now 2025.This market is not that patient and what did he say to raise that $10 million.

[lefrene] 22/9/2023 16:15

That 150p buying opportunity beckons, well done Mr Shaw. At this rate will he have to consolidate again before long?!

[lefrene] 21/9/2023 10:03

The tech is at the leading edge of a world consciously making efforts to be greener, and whilst the big outfits run their own development departments, there's a host of smaller players that can't afford to, and thus will need to rely upon the likes of ITX. It's a market that will continue to grow for many years, and at some point there will be legislation forcing fmcg to move away from phosphates, indeed I suspect the carpet baggers of Brussels are waiting for the nod from the likes of Unilever, to let them know they now have competence, before imposing such legislation.

Once that happens a raft of small operators will need to find solutions, and as we see, as the ITX products grow, there's already manufacturers trying to keep ahead of the big boys.

Yes "significant news" is required, and presumably IP Group would not have stumped up yet more millions, unless they knew something was in the offing. Also no point gearing up for the OTC unless there's something more interesting than breakeven arriving.

So just now £200 mil might seem fantastical, but it would be a quick way into the market for a major operator. The bean counters might insist that the target has to be in profit before making a move. ITX is almost at the point where it's a low risk long term prospect in an essential sector, where it is still developing new higher margin products.

[supernumerary] 20/9/2023 15:51

Oh sorry, I thought you'd made some sort of careless calculation slip-up, like advfn - literally never crossed my mind you were serious. £200M isn't a stretch, it's somewhere out in a far distant galaxy, but by all means dream on. Just remember that without significant news and plenty of it, the share price is only going down from here :¬(

[lefrene] 20/9/2023 15:06

No doubt super a predator would try to get it for as little as possible, but I suspect there would be stiff resistance from holders in view of the patents. For a well heeled predator they would get to jump into state of the art tech without waiting. It might attract a large manufacturer of fmcg products, or perhaps an investment fund that feels they could speed up industrial uptake.

I like the tech and the potential prospects, it's the seemingly sleepy style of the management that grates. But perhaps they're just waiting to wheel out some high margin mass application with which to get the attention of the OTC market? They must have had a good story to get those millions out of IP Group, who presumably are as keen as I am to see this thing realise it's monetary potential.

So yes £200m might seem a stretch just now, but how long would it take, and at what cost to replicate something similar to what ITX has?

[supernumerary] 20/9/2023 14:08

'a snip for a large operator to buy it out for £200 million'

Surely some confusion here? Market cap currently about £22M...

[nchanning] 20/9/2023 10:53

Have been interested in this company for a long time because it's likely to have pretty sticky revenues once it gets into formulations . Management have done a decent job growing the business , got a good fundraise away but the shares are simply too expensive and have been for a long time . The gross margins are not that high here , the group is going to need to grow revenues a lot to be truly profitable . Call me at 100p would love to take a position

[lefrene] 20/9/2023 10:16

The magic of Mr Shaw continues it's work. Evidently Mr Shaw believes silence is golden, and as someone else remarked, how consolidations somehow lead the price back down to the pre-consolidation level! A remark coming true by the look of it, and before long at this rate there will need to be another consolidation to satisfy the rules of the OTC market, a market plainly showing no interest whatsoever in this 'green' cash burner.

[lefrene] 15/9/2023 15:19

At this rate best get the abacus out, and get ready for another consolidation! lol

I guess it wants to revisit the lows of Spring 22.

[lefrene] 14/9/2023 14:19

A few more vote with their feet, perhaps in search of a coherent message elsewhere?

Presumably there was some sort of plan in mind when the decision to crush the float to please the OTC was taken?

[lefrene] 13/9/2023 08:27

elsol, but those US investors will need something to excite their interest, some new product with huge potential, eg something that replaces the phosphates in fertilisers.

It's early days yet, just getting into profit after gawd knows how many years of burning money would be a good start. I take the view (and hope I'm right) that ITX markets are very sticky, and IP Group didn't dish out those millions on a whim.

[elsol] 12/9/2023 15:54

Lefrene. It's because US investors are more long term buyers and US value multiples are higher than UK ones so should drive higher volumes and share price increase

[lefrene] 12/9/2023 13:25

So where's the reason for feeling the need to encourage USA investors, because so far nothing exciting is being revealed. Steady growth is good, and not to be sniffed at, but ....................

[rivaldo] 12/9/2023 10:43

Good H1 results as previously flagged. With $4m revenues in H1 the forecast $7.8m for the year has a clear chance of being beaten.

Here's Canaccord's summary this morning:

"Continued strong growth

Canaccord Genuity view

Robust 1H result Itaconix has this morning reported strong 1H results in line with its July trading statement: revenue $4.0mn +32% y/y, EBITDA loss of $0.4mn, and net cash of $10.9mn, all as expected. We are making no material changes to our near-term forecasts, with some minor changes to the rate of progress of earnings beyond 2024. Cleaning products continues to be in take-off, with revenue from these products up 33% y/y and continued strong margin development. Cash flow was also good, with notably low capex, modest growth in SG&A and continued good control of working capital. We note that the additional funds raised in February are allowing Itaconix to move more rapidly on certain product development, notably on a lower-cost production methodology and on matching the performance of incumbent fossil-based polymers in targeted applications. We remain BUYers with an unchanged target of 400p."

"Valuation: BUY and 400p target unchanged

We base our price target on multiples and on the value that we believe Itaconix's differentiated, plant-based technology platform would have to an industrial third party. At our target the stock would have a market value of around £53mn/$68mn, which is around 4.5x/3.3x 2025E/26E EV/revenue, which we believe would be highly attractive to an industrial buyer looking at markets with gross margins in the hundreds of millions of dollars annually."