Itaconix Share Discussion Threads

[ragnarr] 17/7/2019 09:56

Very happy with this - finally commercialisation of products is gaining traction so they are now transitioning into a profitable business. I think it is clear they will need a bit more funding, as you say probably early next year but we should have a few more deals by then and a higher share price

[cyberbub] 17/7/2019 09:22

This is very positive IMO. The company seems to have enough cash to last past early 2020 which I had suggested. Perhaps they won't need to raise cash until January say? Plenty of time for revenues to build before then, and reduce the level of any fundraising. There is even the possibility that revenues could grow enough to almost bring them to breakeven by then?NAI

[ny boy] 17/7/2019 07:43

Looking forward to a spectacular rise in the share price by 2029, 10 year hold for me

[pictureframe] 17/7/2019 07:11

cash for 1 year+?

[si c] 17/7/2019 07:07

Nice update this morning.Revenues +59% over same period last year.

-- Completed two global supply agreements with Nouryon for Itaconix detergent and hair styling polymers;

-- Delivered the first purchase order of Itaconix(R) CHT(TM) 122 for use in a European non-phosphate automatic dish detergent

[si c] 15/7/2019 19:48

Assuming that there are no exceptional expenses this year?

One thing they need to do is look at their branding and website. It looks like my teenage son did it for them.

[cyberbub] 15/7/2019 16:25

Si C.... You need to read previous results more carefully.Itaconix have reduced admin expenses to a *run-rate* of £2.1M p.a. as of early 2019. This means approx £200k per month. The maths isn't hard...The recent 2018 results show that cash balance at Dec 31 2018 were also £2.1M... it's just a coincidence!Therefore they had enough cash to cover all admin expenses for 2019.In addition they will have made some (gross) profits from sales which will have added to their cash balance. How much is a guess, but they have announced new sales contracts in 2019, and had previously declared revenue of 0.7M for 2018, so perhaps 2019 will yield £1.5M?? Gross profit might be £400-500k? (Just my view) That will be added to cash.Plus they got £250k from selling their stake in that company recently.So I would say they have enough cash until Feb/March next year. They will probably look to raise some more money around November IMO. How much, will depend on how well sales are going ie. adding to their cash pile. It's entirely possible that the sales contracts announced recently might be more positive then we expect! In which case they might need to only raise say £1M? And if the interims show that sales are growing strongly then that could be raised at a substantially higher price than 2.5p...Just my speculation, no advice intended.

[ragnarr] 15/7/2019 15:40

The Directors have reviewed the Group's cash flow forecasts covering a period of at least 12 months from the date of approval of the financial statements, which foresee that the Group will be able to meet its liabilities as they fall due.

[si c] 15/7/2019 14:04

Where did 2.1m come from? thats the cash they have ....or had.

They made a 7.2m loss in 2018. If they are actually have reduced this by 2M PA then thats 5.2m loss. - cash burn at least 430k month.

2.1m cash / 430k - 4months at best before they need cash and this is based on a statement thats now 6 months old.

Balance sheets aren't my strong point so would love to be proved wrong! I like the business but they are looking in desperate need of funding.

[dexdringle] 14/7/2019 12:48

...presumably £2.1m divided by twelve ?

[si c] 14/7/2019 12:00

Jungmana -How are you calculating that cash burn please?

[jungmana] 13/7/2019 23:57

Cash burn is about GBP 200k a month NOT 608k.""In addition, the Company successfully completed the previously announced restructuring of its UK operations, reducing its overall cost base for ongoing operations in the second half of 2018 to a rate of GBP2.1 million per annum"

[aladin1033] 13/7/2019 23:43

has returned over £40k so far plus your money back...

A few of us called it at 1.2p for months...

The next picks to get researched on are #ETX and #N4P...grab a coffee for 15mins this weekend and get up to speed on the stories

[si c] 12/7/2019 19:32

Just working out the cash burn of this company based on the 2018 end of year results.

If I'm right, they're buring 608k a month and had 2.1m cash. So my guess is they will be looking at funding soon as that statement is now 6 months old and they had around 4-5 months cash.?

Any thoughts? It ticks a lot of boxes for me apart from this.

[arab3] 10/7/2019 16:48

10 year hold ? !!! Have you held your BT shares since the beginning ?

[arab3] 10/7/2019 16:46

10 year hold ? !!!

[cyberbub] 10/7/2019 16:41

Dark pool?! Surely we know there is a large seller, there's no need for speculation about dark pools... It must be Woodford! He will have to declare this week as well, unless he is not intending to declare until he has fully completed divesting his 33%.Off-market or at what price is not really relevant - the shares have gone to another insti who won't be banging them out for a quick 10%, they might offload a few when they have made 100% perhaps.If Woodford's overall portfolio wasn't in trouble from redemptions he wouldn't be selling here, more likely averaging down IMO.NAI

[pugugly] 10/7/2019 14:43

Re Jupiter - No indication of any signifcant trades on date given - 8th July - so appears to be off market or dark pool and no indication as to price paid . Keeping the market in the dark - Gut feel suggests sub 2p - but I am oftern wrong.

[cyberbub] 10/7/2019 13:58

Just looking in, I hadn't seen Jupiter's holding declaration yesterday. Given recent volumes, there's no way they could have bought 13% without it being from Woodford. So that's over a third of his holding gone, perhaps he's aiming for a second insti to take another 10-15% and then trickle the rest out in the market. As I said recently, if I was Nouryon I would be happy to take a decent chunk here for peanuts.The key thing is that Jupiter saw very good value around the 2p mark... So that gives some confidence anyway?NAI

[pugugly] 10/7/2019 11:24

NYB_ What do day traders look for as a percntage? Not me dealing !!
However "natural ingredients" a very crowded marketplace - Not sure how these will perform without Woody's funding - Possibly a takeaway for a US situs "green/naural fund.

[ny boy] 10/7/2019 11:17

I am looking for a 10 year hold, not bothered about some fuel for a few meals over the short term.

[pugugly] 10/7/2019 11:01

Looks like shaort term profit taking for the odd say €500+ Just enough to buy a reasonable meal for 2 with wine at a top eatery.

[ragnarr] 10/7/2019 10:57

thats a bit better ;-)