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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.

 

 

 

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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.

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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.

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I have attended previous sla agm's (all amateurly presented at best) and have been pretty brutal on the company in recent years (with some justification!) HOWEVER I was pleasently surprised with today's meeting. It was actually conducted very professionally, quite informative and all speakers presented a road map to shareholders of where the company is headed.

 

Vagif was a little sheepish to begin with but soon realised that the bruised and battered shareholders before him did not come with pitchforks. He knows that we have all lost a great deal of time and money in this dog of a share and are completely in his hands if there is any chance of a resurrection. So we listened, were mostly polite and I left there with a sense of optimism. We have all been severely let down by all directors of sla over the past 8 years with false promises and outlandish predictions. This time may be different. I don't know why, something just felt better.

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My take:

Vagif,Alexander,Ian,Darren and SLA's patent specialist all spoke.....well ....

 

Essentially the strategy is to

1. make a profit (2016/7) by providing raw product ( CGNC mostly) to suppliers who will value add. ( I counted 8+ ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Â¦ÃƒƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…âہ“partnersÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚ÂÂ) ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¦.giving shareholders some confidence

 

2. remarket SLA finished products in various locations ,using various methods.

 

then

 

3. focus on pharma level claims for Ropren ( and others Bios) .

 

 

Darren, publically, was confident of the products but was frustrated by the inconsistent research ( not the results) that made it hard to present a case for the products at registration level

 

 

Ian will become Chair when the company is cash flow positive

 

Presentation on Patents was very positive and professional

 

There has been massive dilution ,to be fair to SLA they seem to have done a lot with that $19 millÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¦ both tiding it up and adding value,ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¦..the company is viable nowÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¦..ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¦but that comes with the biotech industry any way.

 

An IPO is on the way,this will create further dilution.

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