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

Sainsburys said they would not use GM products.

SEO's response is that processing to produce the starch/Starpol destroys the GM "fingerprint" and it no longer exists.

Starpol can be made from non-GM vegetables although it makes it a little more expensive - presumably GM crops give a better yeild/cost ratio.

With regard to GM, does anyone know if there exists any constraint on using GM crops in the production of animal feed?

re directors Warner should definitely go but I guess there ain't go to be too many left soon. Warner has shown the highest level of incompetence possible in his short stint so far and he is more responsible for this mess than the couple of idiots that have already gone. I guess the only reason he is staying for now is the fact that removal of the FD in absence of any contracts would send the sp raidly south.
Also asked Duggan several questions when the sp was 8p'ish and his comment was that the refinancing was being looked at to deliver the bnest possible value for investors.... a subsequesnt sp drop of 90% and three times the no. of shares in issue...... boy am I glad Duggan didn't choose one of his poorer options!

Dawall,

Not sure if C. Warner had very much to do with the situation. His appointment was announced on the 13th March 2006 and his proposed start date at that time was 1st July 2006. Following that there were two trading statements focussing on the need for fund-raising {17th Aug. & 8th Sep}.

IMO CW most likely dropped in it and simply had to bite the bullet! Can't see how he was responsible for the level of cash burn, mis-information and general "apparent" managerial incompetence, IF he only started in July 2006.

Could you possibly mean Martin Wagner - CEO and not Clive Warner FD??

dawall. I am not so damning of MW as you - so far.

MW has been there just a year and 2 days now. In that time he has seen
the problems, planned their way out of them, recruited an FD who he
seems well able to work with. He has re-invented the way forward
(Project Foil) and brought about an amazing coup d'etat in getting rid
of the "Owner" /founder of the modern SEO and his technical wizz-kid sidekick. Oh, and he managed to sell SEO to the extent of 11m to Institutions who had been well and truely kicked in the nuts twice before. All in 357 days.

The coming weeks/months will show if he has been laying the way to get the products fully sorted, marketed and deals done.
I am waiting a little longer.........

EDIT - just realised you were blasting Warner not Wagner, assuming your finger hadn't slipped to the diagonally adjacent key! My views of Wagner stand.

According to FDA records, Starpol 3000 is not recorded as approved.

dawall

With all due respect you cannot blame all the problems on Clive Warner. He has been in the job since May this year. It takes time to get to grips with the financial situation and to understand the culture, personalities and the politicis in the company, the latter being most difficult, before 'lashing' out and telling everybody that what they have been doing and are doing is financially inept.

He has had to win the respect of his board colleagues and their trust in his judgement. Don't forget he inherited a disaster and that could not be turned around in five minutes. It was not his fault that there was little or no income from sales and so financial forecasting for budgetting purposes must have been very difficult to say the least.

Just my thoughts based on my own experience in business.

The oily one

Greek,

The FDA attempts to update the FCS listing monthly, but very often its a lot longer. The current list was updated at the start of October so would only have those FCSs approved up to September.

Garyble,

Thanks re that, did not notice latest update, date.
If/When Starpol 3000 is approved I feel that SEO would be obligated by Stock Market rules to issue an RNS as soon as practicable as such approval would be likely to effect the sp.

Heard Wagner apparantly in the States at the mo- cud not get any answers re developmets on Starpol 3000 or lettrs of intent or starwrap or greenseal. Seems SEO staff have been told to keep mouth shut until something substantial materializes.

spoke to soon about gm potatoes:



LONDON (Reuters) - The farm and environment ministry said on Friday it had given the go-ahead for research trials on disease resistant genetically modified potatoes.

German chemicals group BASF will be allowed to hold trials on two sites in England, starting next year. The GMO potatoes, which have been developed to be resistant to potato blight, will not be used for food or animal feed.

Why in UK? Why not in Germany? Could it be the green lobby is a might stronger over there than here?

Comment on news programme that the so-called 'genetic modification' was essentially applying the genetic make-up of a wild potato. Obviously this is a very emotive subject, but I can't see the essential difference between this and a hybrid domestic/wild potato developed by 'breeding'/'crossing' or what have you.

Dawall, You are right on the button - both MW's should go because they both lack what it takes to run a large plc and that is what we have been hoping SEO will become. SEO's product range, if it is that good, deserves much better mgt. than is currently there. I am amazed that so many posters, many of whom I have met and I would reckon would be shrewd judges of ability, seem prepared to be convinced that these two are of a high enough calibre. I don't like being negative and I hope that this assessment by what seems to be a minority is proved wrong. Meanwhile I am comfortable being in that minority.

Sharesure,

It would be good if you could substiate your comment re: the recently appointed FD. I fail to see how he could in any way be responsible for the state of SEO.

I also believe he was FD of a company with over 220m T/O, and his replacement only appears to have been appointed in September. This indicates to me that he jumped ship.

Sharesure,

My take on the management is that many have proven themselves to be failures. None have proved themselves, to be otherwise (not counting any previous management positions).
As to the newer board members, I will not make judgment as yet.
The board will be judged as a whole on where SEO are this time next year at the latest.
With this time spread, even the most optimistic among us will be saying, no more excuses.
My own opinion is that SEO will have to prove themselves well before then.

79 posts since I last looked at this thread and all of them sum up the same thing, very grim!!

Re the management issue, I once again return to the Schroders factor. CW clearly master-minded the capital raising exercise and one suspects that Schroders were a major player all along; if they were it would explain why they were actually able to raise the cash. That suggests in turn that CW is their man. MW did get rid of the previous FD and bring CW in, although I do wonder whether his ASDA background prepared him for the hot seat. But, again, on the Schroders assumption, they do need some continuity so MW could be in for the long or just short term.

Explosive: that could be your general impression but all is not lost! My posts on the Schroder dimension are positive in the sense that an organisation for whom I have immense respect have taken a direct interest, including their clients pension funds. They will have done their own due diligence before this level of commitment. That implies they see the prospects both in terms of the clients and potential contracts are real. That says nothing about timescales. Nor does it say that the present real value is any more than the market cap of around 35m. But I think it does imply that the 0.8p is a real support level and that the potential is, at the least, significant. I would welcome your acknowledgement of this point (because holders should not depair!).

Eric

Eric,
A good summing up of the situation.