Bioprogress - FTSE 100 company in the making

What sirjic says is quite reasonable. Sorry sounds reasonable.

Now lets see: how much has BPRG actually sold in the last 12 months in £ millions?

£50 Million?
£10 million?
£5 million?

Less than that.

It's all fine words and a very believable story when it starts to deliver growing turnover (some profits would be nice but we can allow losses as startup costs will be high).

Unfortunately BPRG buys a profitable business and promptly halves the turnover and makes it unprofitable.

To hard nosed sceptics that is the way to impress your critics ... NOT.

Until BPRG announces some contracts with firm revenues for the next 12 months and stops giving hostages to fortune (announcements "in a few weeks"), and runs its PR professionally and makes its actions coincide with its public utterances then the price will just go up and then down again.

(Anyone who lists a company on Nasdaq and whose CEO sells shares a few days before at the same time - for whatever reason - has absolutely NO IDEA of PR and the impact of their actions on sentiment. And the CS "brokers note" turned out to be totally misleading and grossly overoptimistic. As it was company sponsored, it confirms my view of management's PR ineptitude. Or maybe it was done to allow an opportunistic fundraising? Why? The company has no immediate cash needs..according to its forecasts.. Or maybe losses will be bigger and last longer? I don't know.)

And before all the believers get annoyed at what I say, investor sentiment is king. That's why the share price is languishing where it is. Not because the company has not progressed: it has made strides in signing up customers - although the financial impact in the future is unclear
- and hopefully the R&D is progressing - and it has won its SEO court case.

Based on what it has achieved the price should be double what it is. But the trouble is it has promised more and failed to keep those promises. And appeared frankly inept at financial management.

Companies who lose their reputation for financial rectitude take a long time to regain it. They have to take actions which are recognised as addressing the problems - real or perceived.

Forget the SEO damages issue: it's a sideshow. BPRG could win £1, £10 or £20 million - forget it. SEO can't pay. It has no cash. - But it has great PR and is capitalised at £44M and will need a rights issue to pay any substantial cash damages. BPRG is capitalised at £79M and has £15M cash and has no need of a rights issue.

Says it all really. BPRG wins court case, has lost the PR war.

Until that changes and investor perception changes the share price will - in the short term - go nowhere.

Of course that's my view. I have held and would like to.. but my charts say quite unequivocally don't buy (sideways mode - drift down). Others disagree. The price says it all.The last bounce off rising support at 65p was very weak and we have formed a lower high. So we either bounce hard and higher again or we will see lower lows.

I expect RNS "in a few weeks" on new customers. Based on past PR performance they will be vague and inept and the bounce will be weak. I may be wrong. But since the major players on BPRG's side have not changed I see no reason to expect better news.

I watch with interest and will buy when the charts look better. I hope for holders' sakes my pessimistic view is wrong.