for more information about stanelco click on the links.

driver's research page link
http://www.moneyam.com/InvestorsRoom/posts.php?tid=7681#lastread
website link
http://www.stanelco.co.uk/index.htm

Biscuit,

FDA approval is typically a countdown of 120 days {17 wks} from the Food Contact Substance (FCS) notification, which as Oily states appears to have a further 6-10wks remaining. Within the 17wk wait, the FCS can be rejected which it does not appear to have as yet and most likely will run to the full 120 days whereby it will officially attain FDA approval.

The FDA Food Contact Notification (FCN) list was recently updated and includes approvals up to 31/08/06:
http://www.cfsan.fda.gov/~dms/opa-fcn.html

The only entry for Stanelco is FCN No: 558

Stockdog, re you post 20484: "Raising 15m is perhaps difficult to convince. On the one hand it is considerably greater than their cash burn should be if their promise of imminent contracts is to be believed (and they must be believed to even get started) so the balance must be for expansion;"

Is it not the case that SEO will need a considerable amount of tooling-up for Starpol production, hence the large amount of cash rumoured to be involved in the fundraising. I can't see the company trying to expand by acquisition at a time when everything is otherwise in such a precarious state; if they didn't need the whole amount of cash for continuing (beginning!) operations they would surely wait until they were in a stronger position, in terms of both finances and of the share price, before looking to raise cash for bargain-hunting.

Garypat2 - I'm not a director and don't know much about the rules of authorising share capital, but I am certain that the shareholders would be far more likely to authorise an increase in share capital if the directors were able to go to them at the EGM and say "we have been out on the road and have received undertakings from potential investors covering X million", than if the directors just said "We've got nothing at present but are willing to give it a try; please give us a free hand."

All just idle thoughts; please make up your own minds.

I would think that the awaited approval for Starpol 3000 is sitting in a tray at the FDA waiting for someone to deal with it.
As with any such state run organization, the wheels of finalization grind almost to a halt.
I know, I worked in similar (government bureaucracy) .You could summit for final approval signature a completed file after working on it for months,and it would sit there for weeks, gathering dust until someone got of their butt and decided to deal with it. Any attempt to push things along was usually met with stonewalling.
If something had been found untoward, we would have heard by now.
No worries on that score.

ST,

IF SEO are "finalising" contracts for MMPs they'd need to find $3.5m for each MMP. Current Admin. cost of greater than 500k per month. MMP supposedly takes 6 month to build and commission {I'd personally double that}, so they'd basicall need a year's cash: ~6m to cover Admin plus $7m {2 MMPs assumed}.

Sales have increased, as half-year showed a 2.6m T/O compared to 1.5m for the full year previously.

oilywag,

Have you received my email?

Thanks Garyble - on your calculation that makes around about 10 million plus the costs of the capital-raising, which could easily be another 1 million. So 15 mil actually doesn't sound all that wild an estimate, as I suspected.

Thought I'd missed the bottom the other day when I sold 250,505 shares at 1.605p, but it looks as if I'll be able to re-buy as I'd hoped!

pinnacle

No, I seem to have had trouble receiving others from members on this board.

The oily one

Oilywag,

I suggest you speak to alan to get my email.

Thanks.

Alan I think you'd better change your name to conduitalan6. It seems more fit for purpose.

The oily one

Pinnacle

E-mail arrived a few minutes ago.

The oily one

LOL

Garyble,
You state....IF SEO are "finalising" contracts for MMPs they'd need to find $3.5m for each MMP.
Not saying your wrong as I have no idea about such things, but could you possibly give a bit more detail why it cost so much and where your figures come from.
Thanks in advance.
Greekman

Greekman,

It was in either an Evo or T&G report I think, stating that it was proposed to cost $7m to build an MMP, JV split would be around 50:50, technology transfer charge of $1.5m per contract, 4m contribution to SEO per 20,000 tpa contract.....

I'll search for it again and post extract + link.

Thanks Garyble, that would be very useful!

I seem to recall hearing somewhere, some time ago that it was intended that SEO were trying to get JV partners to fully fund the MMFs.

Since then, I have specifically been told by a "solid" source that at least one prospective partner is fully prepared to do so in his eagerness to take up the technology as soon as FDA approval is granted.

On the FDA side, my understanding is that they do not actually announce their approvals but it falls in automatically after a set period during which the FDA can object. If so UNLESS the FDA specifically rejects an application/material 'early' approval does not happen. It just needs time to fall in, in the absence of an adverse decision.

Tonyrelaxes

Welcome back. Are you now home and have you got a new mobile number. Let me know.

Martin Wagner told the AGM in answer to my question that the joint venture partner would finance the cost of setting up a factory to produce the Starpol products and as well as pay for technology and subsequent royalties on sales.

The oily one

SEO co-hosted a show in the USA this week, was it a failure for SEO and a total waste of .
There does not seem to be any positive or even negative news.
Have the yanks RF sealed, and Frog Packed them back to Blighty??.

Doubt it.
There is a seminar like this every quarter, and nothing has ever emerged from them like that. they are more of a networking club of people WM want to see working together.
Alan

Best to accept that existing shareholders are in a very weak position. Any 'partner' is going to exploit SEO's glaring financial weakness and drive a very hard bargain for supplying the necessary funding.

Why do punters never learn?