Bioprogress is a stock I have been in and out of quite a few times since it floated in May but not much mention here on the Investors' Room. Does anyone else follow this stock. I see it is up 1.5p today and a few good buyers seem to have appeared.

aqa - that was today , it has fallen almost 30% in the last couple of weeks and looks likely to fall further.

Dil,

With respect look over the last couple of months and it's well up, don't know your agenda but suspect you've bought at higher prices and are sitting on large paper losses. Try not to get too bitter and worried,price will resume normal progress soon.

Long term i've yet to see a company with such good prospects as this one, I think we're still at the beginning here and patience will be rewarded.

No Bungalow I bought them for a few hours last week and did ok thanks. I just happened to agree with someone a couple of weeks ago that for reasons I have previously stated they looked a bit toppy and could fall.

That's funny, I thought lol was 'lots of love' and that you boys were just being sentimental. Having caught up on the last few days, this is obviously not the case! they say women are b......! Now, back to the shares..shall I wait to get in??
Any updates would be appreciated.

They could fall down to the placing price of 110p or even a little lower if I am reading the US market right. Having said that I dont think any long term holders should have any worries as I see them come xmas at above there previous high.

Certainly one to put on the watch list if you are not in yet. Should be a real bargain if you time the bottom correctly.

cheers GF.

From Lemming Investor.........

LemmingInvestor
Edward Kalfayan
March 8 2004

During February, Bulls of BPRG have impatiently anticipated a major contract with an OTC global pharma company, expected to top the great $160m FMC deal. It came today with the FY2004 first full report since BPRG was admitted to Aim. The contents of the report were almost entirely historical, and largely known or anticipated, without much hint of future events, whereas the two RNS announcements alongside the FY results contained the real price influencing news.

The big new licence deal was with a still unnamed company, (no corroboration that it was the expected US giant Perrigo) and the first $900,000 down payment will not come until commercialisation at the end of 2005. Even afterwards, the first royalties will be modest , and at 1.5m are unlikely to support more than 25-40m of the company’s cap until sales and production have had time to expand. The Aquafilm acquisition should however go a long way to making up the cashflow shortage in the immediate future, and was today an unexpected masterstroke not yet in the share price.

RNS reports are often so politically correct as to be difficult to comprehend exactly. Brokers, interested in the share, to whom we spoke this morning, had not read the RNS properly “because it was just too many pages”. Graham Hind’s City briefing to brokers did get across that the Aquafilm acquisition will mean immediate profits, to compensate shareholders for the long wait for today’s licence to become cash positive. We hope you find our QuickRead transformation of these reports helpful in getting hold of the salient points within the short time available to you.

RNS QuickRead

08 March 2004

BioProgress acquires assets of Aquafilm LLC
In Tampa, Florida
Institutional Placing of 10,000,000 New Ordinary Shares raises 10.5 million (net)

Today’s agreement is intended to lead to the purchase of the edible film production assets of Aquafilm LLC in Tampa, but excludes assets in Connecticut, US and Hartlebury, UK.
.
Founded in 2000, Aquafilm has a film production facility with FDA certification to produce soluble films for use in nutritional products (vitamins, minerals and supplements) and food products. The procedures and systems are in place to enable the facility to be quickly upgraded to full pharmaceutical production standard (cGMP).

The consideration is US$3.5 million at closing, and up to US$7.5 million later, as an earn-out against Aquafilm's net semi-earnings from 2004 - until the US$7.5 million is reached.,. These payments from BioProgress will match Aquafilm net annual earnings on a dollar for dollar basis. Total consideration could therefore be up to US$11 million.

BioProgress will also invest up to an additional US$3 million during 2004 to bring the plant to pharmaceutical standard and refurbish the offices and packing facilities.

Aquafilm has been a supplier to BioProgress of films for the XGEL technologies and can produce films for all the dosage forms. Aquafilm has also been developing vitamin strips and other innovative, fast dissolving 'in the mouth' films for retail consumer products. This is a new and growing market which has seen breath freshening product introductions from Warner Lambert and Wrigleys in the USA and Europe, and Boots in the UK.

BioProgress has recently filed patents on WAFERTAB™, a more effective delivery of pharmaceutical drugs into 'in the mouth' dissolving films. This new technology will significantly enhance the Aquafilm current product offering, and the Tampa facility will be upgraded, to full pharmaceutical production standard to accelerate the development of WAFERTAB™ into the pharmaceutical sector. This has tremendous potential as a new drug delivery platform and will create further exclusive licensing opportunities for BioProgress.

Aquafilm has been working with a number of multinationals as well as European and US companies developing film products under various brand names. Aquafilm has a film manufacturing as well as a conversion and packing capability in Tampa, and therefore can supply finished products ready for shipping. Aquafilm supplied products are now entering retail distribution in the United States and UK markets, for example, children's vitamin strips under the 'Spiderman' brand will be distributed at every cinema, as well as other retail outlets, at the launch of the second 'Spiderman' film in May 2004.

Aquafilm is forecasting revenues of around US$50 million in the period 2004 - 2006 from 'in the mouth' dissolving consumer products supplied to a number of companies and the US$7.5 million earn out is expected to be achieved during this period.

Commenting on the acquisition, Angel Oliva, Chief Executive Officer, Chairman and the majority shareholder in Aquafilm, said: "The soluble film business is an exciting business and has the potential to grow fast." As a private company we have made a substantial investment in getting the Aquafilm business this far. Further investment is required and BioProgress has the resources to undertake this. BioProgress also has a number of patents on soluble film and film applications which, when linked with Aquafilm know-how, will put BioProgress in a strong position to develop both the consumer and pharmaceutical markets for this technology. I am confident BioProgress is the right company to take the business forward."

Scott Schaneville, the Chief Operating Officer of Aquafilm, said: "The team at Aquafilm are really excited about becoming part of BioProgress. I believe Aquafilm will produce significant revenue and profits for BioProgress in the short and medium term while the major BioProgress dosage form technologies are beginning to roll out following the strategic licensing agreements BioProgress has been able to secure."

BioProgress CEO Graham Hind, said: "This is an excellent acquisition for BioProgress as it enables us to commence XGEL film supplies to our customers almost immediately, avoiding any delays in the development and roll out of our XGEL technologies with our licensing partners. It provides us access to know-how and practical film manufacturing experience which will save costs, shorten the timeframe, and be generally invaluable in the establishment of our first phase European film production facility in Cambridgeshire. We still need to proceed with the first phase of this project as our customers expect the security of two site supply.

"Finally we believe we have secured Aquafilm at an excellent Price Earnings valuation. We have secured immediate, significant and growing short and medium term revenues which we are sure will be received well by our Shareholders. We have enabled the acceleration of our existing technologies by the early supply of film and brought on board further know-how and expertise to enable faster development of what we believe will become an extremely valuable new core technology, namely WAFERTAB™."

Licensing agreement for TABWRAP(R) with a US global leader


Heralded by a letter of intent last November, BioProgress today announced the signing of a licensing agreement with a global leader in the Over-the-Counter medicines (OTC) and Nutritionals (vitamins, minerals and supplements) product sectors. The company remains unnamed, and confidential for commercial reasons.

The license for TABWRAP(R), one of the BioProgress XGEL(R) dosage forms is exclusive in a specific market sector and for the territory of North America and the European Union.

BioProgress will receive a payment of US$900,000 upon the first commercialisation and a royalty based on the licensee's sales price of all products which use the TABWRAP(R) dosage form. The TABWRAP(R) technology will initially be applied to a limited number of products, which could be on sale before the end of 2005. Sales of the initial group of products, when fully introduced to the US market, are expected to generate royalty income for BioProgress of between US$1 million and US$1.5 million per year. That amount could grow significantly as the TABWRAP(R) technology is applied to higher volume products, new products and introduced into the European market in competition with old tablet coating technology.one of the new XGEL(R) dosage forms

The TABWRAP(R) machines will be manufactured under license by the licensee and films for TABWRAP(R) may be supplied to the licensee from the newly acquired BioProgress cGMP film facility in Tampa, Florida USA, generating further revenues and profits for the Company. To ensure that there is the security of multiple supply sources for film in North America, the US pharmaceutical company will also establish a pharmaceutical standard (cGMP) film manufacturing facility to supply their own film requirements under the exclusive license. This second facility will also exclusively supply BioProgress with film, giving BioProgress guaranteed additional cGMP film capacity in the USA as film requirements grow for all BioProgress technologies and customers in the North American market.


CEO Graham Hind, said: “our US partner in this agreement is influential in the industry and their adoption of our TABWRAP(R) technology will help establish it in becoming an industry standard. TABWRAP(R) is a technology designed to replace traditional tablet coating techniques by providing a non-gelatin lower-cost, faster, more efficient process. We can also manipulate the dissolution rate of the TABWRAP(R) coating film to increase the dissolution rate of the tablet and add value to products by making the tablet active available to the body faster and facilitating a 'faster acting' claim. TABWRAP(R) also enables a two-colour tablet product presentation not possible with traditional tablet coating methods, offering further product differentiation and marketing advantages over current tablet coating processes.

As the TABWRAP(R) film is made from already approved materials and the tablet cores remain unchanged, the regulatory issues are minimal and the TABWRAP(R) technology adoption time and product time to market is relatively short. According to IRI, an independent pharmaceutical market monitor, the OTC medicines market in the US is valued at US$10.8 billion dollars per annum. The European market is also extremely substantial. If the licensee is successful in securing even a modest share of this marketplace through TABWRAP(R), it is not unrealistic to anticipate that within a few years the BioProgress royalty stream on TABWRAP(R) alone will be very significant.'

Thanks GF, Yes, I've heard it's all in the timing! I shall listen and learn.

GF,I agree long-term there is not a problem.I have to admit I am perplex the way this has gone after the results.No doubt scottie will be having a laugh!!!but i do fear one thing about this compamny....with so much going on it will be on the radar of some big boy for a takeover,hence could go cheaply!!!

Have bought back BPRG at 117p and 118p for my SIPP. Looks like the 110p mark will be the support for now(famous last words). The share had to fall back closer to the fund raising mark, simply because buyers had been buying higher hoping to be in on the fund raising.

Oi Bullie thats crap ramping - get Martini to give you some lessons

:-)

Dil,

Why hang around BPRG bb's if you have no interest? Or are you trying to stop us mug punters losing our money.

What I posted yesterday;
btw If you don't think you can handle down days like today this one is not for you, today the price is being led down by the market makers too accumalate stock. The price will rise just as quickly, only thing to change over the last few days is we've grown in size and will be in profit quicker.

I have an interst in all shares bungalow and don't need you to tell me where and when I can post. Although you may not like or agree with me on some occasions my views are as valid as anyones.

Having spent 3 years at university in Wales, I can vouch for the stroppiness of the natives :)

And you can bog off too :-)

Dil,

Is there any companies that you actually own shares in? Perhaps you're only interest is posting your end is nigh type posts, if so fair play what ever makes you happy.

guys - don't let's go the advfn route PLEASE!

Blimmey wats going on with you lot were all in here to make money lets keep the posts sensible and try to help out each other to make more money.....

Yes I agree, make money. The trouble is I'm new to this board and been reading for the last 2 weeks..There are so many tips and totally different companies that I don't know which one to go in now......some of the ones I
contemplated have already doubled so feel I've 'missed' them by not being quick enough. Havn't bought anything this week so need to go over all options..

I sold all my holdings besides one a couple of weeks or so ago bungalow. Since then I have bought two ftse100 companies for their yield , been in and out of these once and in out out of jrvs once. I have also bought one speculative play recently.

Now bungalow please direct me to the end is nigh post your grizzling about but in the meantime if you want bullsh*t posts then go read the 110 price target posts over on the other bb , they'll cheer you up.

amberjane thats the way it goes, you will pick up good tips along the way, have a look at pxc and ost, i'm in both but still have some mileage in my opinion but as usal dyor.... regards