The engines have fired up at last for MDX. ( BPRG ) At long last they are being recognised for the force they will become over the next two years. On the cusp of disclosing huge revenue-earning deals with Global pharmacists. These have been hinted at as being unrolled before the years end, but may be in the next days.You still have time to get in at a bargain-basement price before the SP takes off for real shortly.

cambridge-news.co.uk

Published: 28/09/2010 09:23 - Updated: 28/09/2010 09:27
Meldex losses total 74m as administrators go in
Former AIM-listed Meldex International, previously known as BioProgress and based on Cambridge Science Park, has gone into administration with losses of 74m.

The administrators are working with the directors to sell the firms main trading subsidiary, BioProgress Technology, as a going concern and its business is unaffected.
Chris McKay, of administrators McTear Williams & Wood, said: The companys recent past has not been pretty. Its last reported accounts showed losses of 74m, caused largely by write-offs of bad investments made by the previous directors.
Meldex floated on AIM in 2003 with a market capitalisation of 16m and reached a high of 150m to become the darling of the AIM market.
In 2005 the shares were the most traded on AIM. However, after a series of disastrous largely by write-offs of bad investments made by the previous directors.
Meldex floated on AIM in 2003 with a market capitalisation of 16m and reached a high of 150m to become the darling of the AIM market.
In 2005 the shares were the most traded on AIM. However, after a series of disastrous investments a new management team (including the return of Barry Muncaster) was bought in January 2009 to try and turn the companys fortunes around.
Having spent a few months restructuring the business, new funds were introduced from existing shareholders and creditors in September 2009.
Mr Muncaster said: What we found on our arrival was quite a shock. The actions of the previous directors left the company little choice but to pursue them through the courts. This proved to be a highly costly action. Recently, previously unknown liabilities have resulted in the company no longer being able to meet its debts. For those who put new money into the company last year under a fresh issue of loan notes, there is some hope. The money advanced was secured over the assets of the company and any sale of the subsidiary should result in funds being returned to the loan note holders.
Mr McKay said: There is a lesson here for all investors. If you need to put new money into a business to keep it afloat, try to secure the debt against some assets. It wont guarantee that you will get your money back but it certainly moves you up the creditors list.
Any interested parties or investors should contact the joint administrators immediately, he said.
Meldex, via BioProgress Technology, is involved in developing non-gelatin edible films for the pharmaceutical, healthcare and recreational industries in other words, pill-coatings for vegetarians.

"... in other words, pill-coatings for vegetarians"


A world beater lol

what a mess but i bet somone has done very well out of it

Two ?

Just popped by for a laugh. ;-))

Why do people believe things a BoD says. Rule 1 is that they always talk it up. If you can't get to grips with that then stay out of the markets.

Not true Al , subsidaries of multi national companies that have to pay 100% of profit to parent company as dividends are imo likely to do the opposite.


Apparently :-)

... uck me I could teach Barry and his merry men a few things about "reserves" :-)

His imaginary loan is just that apparently and now the sln holders are about to get diluted (?) !

Couldn't make this crap up ...

Eh?

The story is degenerating from soap opera to pure farce!

Andy

'Twas always so.

Gausie,

:-)

Interesting posts from the factoid tonight!

Taby was right all along, Barry never loses


Meldex Factoid - 18 Oct'10 - 19:36 - 19489 of 19567

POST NUMBER 4


So I do not offend I will say nothing of opinion but ask Mr Mike to give it instead.

Meldex Administrator wrote these exact words in his particulars for Meldex which went to creditors in the last five days:


Directors Remuneration for the period ending 31 December 2008 = 959,000
Directors Remuneration for the period ending 31 December 2009 = 1,459,000

It was an error jeff , 2009 figures are really 2007's ... administrator as good with figures as an meldex director !

Any thoughts on this tabby ???




Meldex Factoid - 20 Oct'10 - 20:19 - 19826 of 19842


POST NUMBER 5

So I wont upset Mr M Mike I will give no opinion on this message from Mr Gary which agrees a false bid by him and Mr Barry and Mr Richard.

So I wont upset Mr N Mike I can say for sure there are no typos.


From: gcressman@aol.com [mailto:gcressman@aol.com]
Sent: Sat 04/10/2008 18:40
To:
Subject: Re: From the bulletin boards

Incidentally on the Barry Muncaster "bid" there was a meeting on a friday between barry me and Richard that agreed to launching some sort of bid to flush out buyers that Richard stated were watching the situation. I went away from that meeting thinking it was all very preliminary and needed further work . So I was very surprised to see the share price rising on the monday followed by an approach announcement. I am now fairly sure that it was engineered by Richard leaking then RNSing the approach which Barry has on record as him not agreeing to until after the RNS!!

Looks like the information dam is about to burst in the zoo.

Taxi for Muncaster

:-)

DilI have very little thoughts on anything MDXperhaps a few years ago I would have dealt with this scam in a self satisfying way?I will rely on our legal system nowlolfwiw I believe the post from the doctor is pretty near the markbut I doubt if you do?and as you know the doctor is no friend of Barry

As a past investor in mdx that has lost a few quid all I ever wanted was those responsible for this disgraceto get maximum punishmentand I stress all!that has never changed and it never willunfortunately our laws are designed with loopholes to assist the chosen few!

the_doctor - 21 Oct'10 - 10:32 - 20098 of 20103



"John boy Walton - 21 Oct'10 - 09:26 - 20064 of 20096

M5, So why doesn't Aflynn take all his notes and evidence directly to the FSA then?
Not by email or Bb posts, I mean get his backside on a train and go to London and sit down with them. has anybody (apart from BJM/GC etc) actually done that?

factoid seems to have all the evidence, why hasn't he done that?"


BECAUSE FACTOID IS ONLY PRETENDING HE WANTS JUSTICE
WHAT HE REALLY WANTS IS TO DISTRACT FROM OTHER CROOKS AND ENSURE THEY ARE NOT CONVICTED.

BEWARE. IF FACTOID WAS GENUINE, HE'D GO THROUGH THE PROPER CHANNELS.

He might already have gone through the proper channels tabby.

Agree with your opening statement , most sensible thing you've ever posted on here !

Do you think so Dil?
Human nature is the concept that there is a set of inherent distinguishing characteristics, including ways of thinking, feeling and acting, that all humans tend to have.
The questions of what causes these distinguishing characteristics of humanity and in turn how fixed human nature is, are amongst the oldest and most important questions in western philosophy.
Dilif something dont add upits the guy countingnot the Mathematics!