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Everything posted by nerk

  1. Cash flows for the year: As for who SEVDA is - no idea. limited googling skill doesn't turn up anything. You're right though - that's a big investment there. Prenolica Limited Statement of cash flows For the year ended 31 December 2018 Consolidated 2018 2017 $ $ Cash flows from operating activities Receipts from customers (inclusive of sales taxes) 4,443,451 4,733,297 Payments to suppliers and employees (inclusive of sales taxes) (4,635,649) (4,788,549) Finance costs (28,345) (27,287) Research and development rebate 80,913 244,188 Income tax expense paid (33,875) (57,916) (173,505) 103,733 Interest received 1,441 6,848 Net cash from operating activities (172,064) 110,581 Cash flows from investing activities Payments for property, plant and equipment (719,372) (502,012) Net cash from investing activities (719,372) (502,012) Cash flows from financing activities (Advances to)/ proceeds from loans with to related parties (14,002) 385,561 Proceeds from shareholder to be converted into debt or equity 1,000,000 - Repayments of financial liabilities (131,459) - Net cash from financing activities 854,539 385,561- Net increase in cash and cash equivalents (36,897) (5,870) Cash and cash equivalents at the beginning of the financial year 250,871 256,741 Cash and cash equivalents at the end of the financial year 213,974 250,871
  2. Hi All, Thanks Helz for supplying the report. I've had a look at it, I'm no expert in finance or the like, but I can offer a bit more Below is the full financial summary (apologies for the formatting) Revenue is in fact, $3,904,829 (down from $4,308,189) The quoted number from Helz is the final income (or loss to be more accurate), a loss for 2018 of $1,319,254 Loss after income tax was $992,750 A few things to note from the report Total assets are around the $6 million mark, Liablities around the $5 million, so net assets are about $1 million. However I obviously don't know how to read this properly because the auditor flags the Group's current liabilities exceed it's current assets by $1,502,690 and states it is an ongoing concern. (this may be due to all the borrowings? though that seems to be included in the liabilities already) Thare was a borrowing of $1,000,00 for the year: "Non-current borrowings comprise unsecured loans from the Executive Chairman and his related entities. The loans are interest free and repayable not earlier than 2020. $1,000,000 in current borrowings (2017: $nil) relate to funds receipted from an external investor under a Letter of Offer that are expected to either be converted into either hybrid debt or equity at a future date and as at report date were unsecured, non-interest bearing and repayable at call." There are also borrowings of $1.6 million from Vagif. Issued shares have not changed for the FY (95,210,356) Vagif and Alexander Kurganov are the current directors Ian Nisbet resigned April 2019 (but did attend all 3 directors meetings) What I'm taking out of this, mostly, is that they are still going, and they are actually still producing financial reports, which went missing for a while. They are making close to $4 million a year (no real change from the previous year) I think it will be a while before any shareholders see anything based on the current situation. But I certainly don't know everything. I just hope there's something more on the horizon. Prenolica Limited Statement of profit or loss and other comprehensive income For the year ended 31 December 2018 Consolidated 2018 2017 Revenue 3,904,829 4,308,189 Other income 481,526 323,071 Expenses Research and development costs (443,687) (491,525) Contract research and development by SEVDA (853,028) - Impairment expense (60,216) (195,856) Employee benefits expense (724,512) (980,716) Depreciation and amortisation expense (389,449) (209,091) Other expenses (428,611) (181,446) Corporate administration expense (603,551) (669,470) Cost of sales (1,781,362) (1,634,088) Finance costs (60,814) (27,287) Profit/(loss) before income tax expense (958,875) 241,781 Income tax expense (33,875) (57,916) Profit/(loss) after income tax expense for the year attributable to the owners of Prenolica Limited (992,750) 183,864 Other comprehensive income for the year, net of tax (326,504) (230,021) Total comprehensive income for the year attributable to the owners of Prenolica Limited (1,319,254) (46,157) Assets Current assets Cash and cash equivalents 213,974 250,871 Trade and other receivables 1,060,750 980,812 Inventories 689,922 996,173 Total current assets 1,964,646 2,227,856 Non-current assets Financial assets 1,968 34,437 Property, plant and equipment 4,332,136 4,210,392 Intangible assets 16,432 27,373 Total non-current assets 4,350,536 4,272,202 Total assets 6,315,182 6,500,058 Liabilities Current liabilities Trade and other payables 2,211,170 1,854,662 Borrowings 1,000,000 - Provisions 94,068 104,470 Deferred revenue 162,098 342,494 Total current liabilities 3,467,336 2,301,626 Non-current liabilities Borrowings 10 1,697,879 1,711,881 Other - 17,330 Total non-current liabilities 1,697,879 1,729,211 Total liabilities 5,165,215 4,030,837 Net assets 1,149,967 2,469,221 Equity Issued capital 103,363,880 103,363,880 Reserves (1,267,099) (940,595) Accumulated losses (100,946,814) (99,954,064) Total equity 1,149,967 2,469,221
  3. ok, so a little bit more googling and there is another copy of that video on youtube (posted oct 2017) which has a little writeup under it in some form of English. "concentrate of juice from the Bioeffective® by Prenolica® spruce The complex from the endemic plant adaptation of ENDEMIX ™ The CoreNRG complex is growing For the release of the imunobuster of CoreNRG to the wagon, the two legendary products of the koito, the veche of the 20th year successfully succumbed to the 40-page light from the street - the energy complex "Adaptovit" and the bassamt with a wide spectrum for the "Koren" action! But the new product is based entirely on the innovative technology Prenolica ™. " I'm especially excited by the '40-page light from the street'!!
  4. Thanks Livas. I have no idea how you could manage to find that. A bit more: https://us.siberianhealth.com/en/catalog/product/500327/ though I can't see any link between it and Prenolica/Solagran?
  5. It’s just under a year now that we had an AGM, after which we have heard nothing. I would assume if they are serious about eventually relisting, or anything, then we should expect an AGM again shortly. I’m certainly not booking some time in anticipation. I have noted that according to linkedin, Darren Schliebs is no longer with the company, it says he finished up in November 2017. One of his career highlights was preparing Prenolica for ASX listing... I’m not sure I’d list that as an achievement for his 4 and a half years there. But maybe they are ready. He’s now COO of another company Fitgenes. As far as I can tell, business is still continuing overseas, but that doesn’t really mean anything over here.
  6. Hi All, Notice in the mail today for two AGMs consecutively for Prenolica. They will be on May 3 at Seasons Botanic Gardens in St Kilda. Nothing much in the way of exciting business to attend to and no mention of a capital raising. The only real items of business are the re-election of a couple of directors. Nerk
  7. Hi All,I note the prenolica website has all the annual reports, including the most recent (and first) Prenolica Annual Report. I just had a pretty quick scan through the report and it includes information since the AGM, and resulting from the AGM (name change, consolidation). The auditors have signed off on the report dated 14-Dec-16. Back at the AGM they'd said there would be a relisting, which would likely include a prospectus and capital raising in the near future. The near future has gone but we didn't see either of these (or hoverboards, which I suspect may beat a relisting). Having read this, it seems to indicate this (well, the capital raising at least) won't be happening. I'm certainly hoping the relisting does happen sooner rather than later. prenolica.com coming back on line is hopefully a positive sign "Likely developments and expected results of operations The Board expects that the consolidated entity will continue to develop and commercialize its patented intellectual property. It is anticipated that as this process of commercialization matures, additional financing will not be required to the point that the consolidated entity will be able to provide a return on such financing in the form of dividend income or returns of capital to shareholders. In the short to medium term, the Directors of the consolidated entity will continue to evaluate immediate financing needs through its existing budgeting and forecasting processes."
  8. Damn straight! That's 11.7c (based on the last trading price) worth of shares that have just disappeared into the ether. Gone. No trace. Like they never existed. But I think this should be a lesson to us all - always buy shares in multiples of 12. And always buy not-SLA shares.
  9. prenolica.com is now up and running, and even contains some up to date news! (we are now Prenolica) no sign yet of the slides from yesterdays presentations, I hope they'll post them soon.
  10. I'd guess about 50 or so at the meeting, Vagif joked that they'd booked a small venue so the room would look full. All resolutions passed with very little resistance, proxies had it sewn up before a show of hands but even then I think there was only 1 against by shareholders present for the 12/1 share split.
  11. Managed to attend the meeting but left after two hours and suspect it will have run a while longer. Very briefly, their aim is to relist by the end of the calendar year, a process that will include an IPO raising of up to six million dollars. Prospectus is in draft mode. More dilution coming. On the positive side they presented a large number of products and partnership, all with rosy future predictions. Encouragingly they actually expect to run a positive sales v expenses for FY 16, improvement to come. Keen to also push the position the company is in regarding patents granted over the past five years, focusing on the five granted in the US as very positive. Obviously acknowledged they have a lot of ground to claw back with investors, especially in trying to sell the IPO. Company name change to Prenolica is on the way, with the website to be up and running soon. The presentation will be up there when it's active.
  12. Speaking of Dr Nisbet, I wonder if this time next week he'll have a bit more say in matters... Solagran said, when he was appointed, and according to his profile on Solgran's website "Subject to the achievement of certain milestones by the company, Dr Nisbet will assume the role of Chairman" I wonder if certain milestones have been met? I for one am looking forward to the meeting (or at least getting an update on it) and where Solagran (Prenolica) is really at. I think there will be a lot to report.
  13. The website seems to confirm the AGM date. I think it's actually happening! Solagran 2015 AGM, Wednesday 10th August 2016 at 2.30pm, Seasons Botanic Gardens, 348 St Kilda Road, Melbourne
  14. the way I'm reading it is that there are: 345 million ordinary shares 515 million convertible notes as at EOFY 2015 - convertible to ordinary shares upon shareholder approval (see convertible notes section, pg 44 annual report) 100 million convertible notes (the extra as per the first announcement) The meeting would vote on the conversion of these shares, it will pass, and there will be approx. 960 million shares issued. That's just my interpretation - I'm not sure I'm right. That's a lot of dilution, but at least we have a company.
  15. I remember reading FDA approval was just a matter of days away. I remember reading hospitals were lining up to take their Ropren orders. I remember reading Solagran were finalising a financing deal with a major international company. I look forward to reading "We have DONE this" but until then it's all still "about to"
  16. If you sell your shares you can realise the loss. OK, can't sell them on the market, but you can sell them to anyone willing to buy them. Your other half, perhaps, for $10. I'm not sure exactly what you have to do to make this all legitimate and legal; any accountant would probably know. Then you no longer have the shares and you have a loss you can write off. And if, God willing, the shares are one day actually worth something, you'll still have them assuming your relationship is somewhat stable.
  17. Not just you. It's going to take a little more than an announcement about a rat having a 15% better recollection about where it left the cheese to get this stock moving.
  18. I'd also like to question the positive effects of silver on the human body. We know that silver can be potentially lethal to werewolfs, witches and the like. Maybe even vampires. And given the close biological make up that these creatures bear to the human, it would not surprise me at all if silver would have a negative effect on a persons health. I don't have any hard scientific evidence to back me up on this, but it makes sense to me. So think twice before eating silver. Bio A would be better, and it also comes in a handy gel capsule form, which makes it easy to swallow. Unlike a number of theories on this thread.
  19. I'm working on the wording of that announcement, Sir Ob, and I think it should go something like this. "Solagran would like to announce that David happened to see a list of things which weren't on the list, and there was a post-it note with the name Ropren on it." I think they should also inlcude that there is a bottle of Ropren on the shelf at Dmitry's pharmacy in St Petersburg, but it hasn't sold yet. They need to keep us informed on what hasn't happened.
  20. That countdown post is more like one of those "The end of the world is nigh!" predictions that cults come up with. Then, when the world is still there at the end of the countdown they all go, oh, that was Mars over there, not Venus.... ummm... oh. It's next week! The end of the world is nigh! Pretty much like Solagran. The sales of Ropren are Nigh!
  21. In response to your negative points: 1. No sales in the bag, but they have shipped out enough to start over 3000 courses (and ship the rest of the bottles to continue the course at a later date. So potential sales at 3 million. 2. Probably because there has been no set date for a visit. Can you believe the President does not arrange his schedule around what suits Solagran? Outrageous! 3. You can’t give projected sales until you have the licence (2 feb). The projected sales were in a response to an ASX enquiry on 2 Feb, which they responded to at the same time as announcing the licence was recieved. One announcement said what the company has achieved – projected sales would not be appropriate for that announcement. The other had projections and fully answered ASX requirements, and they are sharing this information with shareholders (and likely would have done without the ASX prompting it) 4. We all knew about the cash flow situation. No update was required until the situation changed. 5. Costs 10 million, Revenue 15 million. Is there a problem there? 6. This was an announcement on Ropren and the Russian situation, not a shareholder update. 7. Last minute? They announced it (or trading halt at least) as soon as the Licence was received.
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