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

Had a chance to read the RNS in full now. Nothing very encouraging, IMO. SEO looks set to just tread water for at least several years, if not forever.

One item stands out on the balance sheet and that is the sum for promissory notes - over 5m. Does anyone know what they're for and who the beneficiary is?


CURRENT LIABILITIES
Trade and other payables 4,765 1,479
Amounts payable in respect of deferred
consideration 466 3,734
Promissory notes 5,672 5,205

It's heading back to below .5p possibly....I got out in the nick of time !

rf
A good sign if your out I will top up.

With my luck driver you could be right...if you are going into battle don't take me as an advisor !

Well...those who bought in at 1.25p will have to delete a few options on the new car ! ....there goes the spare wheel !.....there goes the sunroof....oh dear the metallised paint option has got the chop ! leather seats off the list ....now where's the nearest Skoda dealer !

rf
You better get back in it's going up 1p at the end.

Not at the moment driver...I fear this is diving to below .5p !

no directors buys.......................yet/ever?

They know it's dropping...now all the hype has faded away it's back to normal !

Answered my own question on the promissory notes - from the annual report:-

12. PROMISSORY NOTES
Group
Promissory notes are amounts due from members of Biotec Holding GmbH Group to the 50 per cent.
shareholder, SPhere. Amounts due represent the principal loans plus unpaid interest. Interest is calculated at
one per cent. per annum on the outstanding loans.

Did we know about this? I wonder if this is due to be paid when the 'golden shares' expire - the end of next year? It'll be a big chunk from the profits(!!). 5.672m

Oblo,

found the following on p194 of the prospectus:

"The Biotec Entities were indebted to the Seller, or persons or entities under the Sellers control, by an approximate total amount of 15.7m (the Shareholder Indebtedness). An amount of US$1m of the Shareholder Indebtedness was secured by a registered charge on the Biologische Natureverpackungen GmbH & Co KGs real property."

I assume the debt is split 50:50!

I fear that this is going back to the .2p that we saw before...there is an interesting point raised by oblomov...I have to say that I know nothing about this so any points by other bloggers would be welcome...we all would like SEO to recover...me included because it has potential...the only trouble is that every time it recovers something else comes along to knock it !

Thanks garyble.

SEO's 50% being 5.6m. Sphere can probably more afford their 50%!

I don't think this has potential. If they survive the 5.6m debt they will drift back into being a small engineering firm, IMO, left with only its RF welding side of the operation. The competition is better at it, in a nutshell. The patent dispute will do for them, if nothing else.

D-E-A-D!

I'm sharpening my pointy stick, ready for the AGM.
Theres quite a few questions that I'd like answered.

It ain't over till the fat lady sings, I might not get my money back but a few balls for tropies may lessen the pain.

Well oblomov..Big Al...if you are right looks like it is best not to put a penny in here...does not look promising at all !, / funny !, after reading the RNS I thought things were looking up...now I've changed my mind !

rf
When youre in you ramp when youre out you deramp very constructive Not. I suggest you keep your predictions to yourself unless you see it going to a 1 in witch case you will properly be out any way.

"if this company gets this right this year you could see it above 2p I think.."

"I fear this is diving to below .5p !"

"I fear that this is going back to the .2p"

Oblo,

The very next para mentioned something about "the Novamont licene agreement" but I've not yet looked deeper into it.

Biotec sales are and will increase, so inevitably a break-even point will be reached...unless SEO keep piling on the exceptionals!

Thanks gary - take a look at these - it would appear that Biotec signed away exclusive use of their patents to Novamont.

http://www.materbi.com/ing/html/allegato.php?tipo=comunicato&id=35



http://www.allbusiness.com/legal/civil-procedure-settlement-compromise/6107524-1.html

http://findarticles.com/p/articles/mi_m0EIN/is_2001_August_3/ai_76952518

This is for the U.S.

http://contracts.onecle.com/earthshell/biotec.lic.2002.07.29.shtml

This from the 2006 prospectus:-

'At Closing, the Seller released all its rights under any agreements where the Biotec Entities are the principal
contracting party, including the Licence and the Novamont Licence Agreement (as defined below) and the
Biotec Entities performed the obligations of the Seller under such agreements to the extent not subsequently
released. The Company agreed to indemnify the Seller for any failure by the Biotec Entities to perform the
obligations of the Seller under such agreements.'

Is the agreement still in force? Maybe Novamont think it is!

SEO remain an enigma as far as I'm concerned: on the one hand they say:-

"Our BioPlastics division encompasses all our activities in bio-based plastics.We have grouped together in this division Aquasol, the Biotec JV and our business based on growing sales of bioplastics, either based on Biotec's IP or on IP offering similar advantages in the marketplace. We regard this as our core business going forward and are looking for new opportunities to increase its critical mass quickly."

Then they say:-

"Whilst we believe the existing product offering is 'best-in-class' versus
competitive biomaterials, the functional attributes often fall far short of
existing oil based products (backed, as they are, by decades of development)."

What the f***??!

I wish I could go to the AGM, I'd take more than a sharpened stick!!