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.

tabasco: I shouldn't get too self-righteous if I were you. The simple fact is that you are the primer for much of the fire on this thread. Don't bother to argue with me, it won't get you anywhere.

Your unswerving loyalty to MDX in the face of all the evidence is doubtless admirable to some, but completely lost on the majority of commentators.

If you've suffered significant losses in this business then we sympathise. But some of us know when to cut our losses.

Take my advice and cool it.

Regards

MM

crikey! have i missed something?
bottom picking can seriously damage your ealth.
good luck to existing holders but beware to anyone and everyone else.
regards
jkd

Shame Dailos didn't say who posted it.
I posted summat about Oric on the other side weeks ago, and I don't think there was a single comment from any of them. Oh, with the exception of one of the illuminati who waxed lyrical about all the good things BJ did for Tangerine - before I posted the article.


Dailos - 18 May 2004 08:21 - 12 of 333
a good post from the other side on this ramped up potential pile of poo..

Bioprogress- Private research

I have now decided to spend some serious time on this and have come up with some conclusions based on facts. The research is based on the following documents, Butterworths(law reports), London Gazette, Bioprogress news site, statutory filings from SEC.

Firstly Bioprogress was started after Barry Muncaster had finished his 7 year ban to be a director of a company, imposed upon him for conduct in Tansoft Ltd. (see Butterworths Company Law Cases Ch D pages 339-358 Judge Warner 18-20, 24-26 July, Oct 1 1990. The outcome of this business enterprise was described as follows in the Bioprogress Annual Report, 2002 ; [Barry Muncaster] is a co-founder and served as Chief Executive Officer, of Oric Products International Limited, which, within three years of its start-up, manufactured and sold in excess of 300,000 personal computers, achieving annual sales revenues in excess of $45,000,000 prior to its sale in 1983 to an investment company quoted on the London Stock Exchange.

Some of the charges made against him at that time related to the fact that no accounts for Tansoft had ever been audited or filed, and that Crown moneys (that is, debts to the Inland Revenue and Customs & Excise) had not been paid. However, there were more serious allegations relating to the way in which related companies dealt with each other, and in relation to a flat in Spain bought with Tansofts money. When one of the related companies could not trade out of its financial difficulties, its assets were sold to another company in which Barry Muncaster had an interest, and in circumstances in which it was unlikely that it would receive payment for the assets.

I quote from the judgment (Re Tansoft, 1990):



About Mr Muncasters own evidence I must say this. He is obviously an intelligent man, and his familiarity with the mass of documents before the court was impressive. He conducted his case correctly and, if I may say so, with skill. But I did not believe everything he said. It was among other things noticeable how, more than once, his version of events changed materially as he was pressed in cross-examination.



Bioprogress had a history of related company transactions while it was incorporated in the US. This is a legacy from the past, as is evident from looking at the tangled mass of Oric, Tansoft, and other transactions. Of one such transaction the judgment states:

Mr Newey put this episode forward as an instance of Mr Muncaster failing to distinguish between different companies interests. I think he was right, but I would express it more bluntly. I think that it was another instance of Mr Muncaster being a party to a misapplication of Tansofts funds.



It is difficult to disentangle the chain of deals around Trutona and Ecoprogress the more so since there are a number of Ecoprogress companies. In April 1999, Bioprogress acquired the assets of Trutona, which was an affiliate of the company since Messrs Muncaster, Longley and Brown are directors, officers and significant shareholders of each entity. At the same time the rights in the B-9 film were sold by Ecoprogress Canada Holdings to Ecoprogress International a private company owned by Barry Muncaster, Malcolm Brown and Richard Brown for USD 600,000, consideration for which was given in Bioprogress shares. (The AIM documentation shows that Malcolm Brown remains a director of Ecoprogress International Ltd, as does Larry Shattles, who was at the time of the deals a director of Trutona.) So the Xgel film was never invented by Bioprogress. It appears it was acquired from Ecoprogress in April 1997.



The SEC filings show two other related companies. Jade Partnership International, controlled by Barry Muncaster, was paid a management fee of USD 50,000 a month in 1998, but this was terminated towards the end of the year. However, this does not appear to be the end of the transactions between the companies, since in 2001, Jade owed Bioprogress substantial amounts, funds transferred to the Partnership having exceeded the funds received from it. Bioprogress appears to have lent money to Jade in March 2002. (At the same time, Trutona had not paid its 2000 licence fees of USD 58,000 by the end of 2001.)



The other related company is Ormiston-Gore. In the SEC filings it is stated to be a related party because of its shareholding in Bioprogress. However, a Companies House search shows that Barry Muncaster is a director of Ormiston-Gore, a fact I did not find mentioned in the SEC filings. Ormiston-Gore owned the property in March, Cambridgeshire, from which Bioprogress operated, and leased it to the company (the lease was stated as being at market rates) during 1998 and 1999.



And why is it that two key patents are in the names of directors, not of the company. A capsule based drug delivery system (11 November 1998) was registered in the names of Muncaster, Brown and Nowak, even though Bioprogress was then in existence and had already reported its first quarter results. Both the US patents are in directors names , including 6,352,719 A soft capsule comprising a wall derived from a multilayer film that comprises three layers. The layers are an innermost sealing plasticized hydroxypropyl methyl cellulose, an adhesion promoting layer of propylene glycol alginate and a barrier layer of sodium alginate. This was filed on June 15, 2001, and is in the names (again) of Brown, Muncaster and Nowak. Is this their final golden parachute, just in case?


The other worrying aspect is the deals that have been announced since 1998 and all of which have disappeared, although at the time they improved the share price dramatically.

Whatever happened to:

Proctor and Gamble- walked away

Boots -walked away

Peter Black-walked away

United Biscuits-walked away

Farmasierra-who knows but no revenues!

Brass Eagle Inc-walked away

So why is the price collapsing?

Here is the inside tip, Collins Stewart are looking to exit, they have not made a market in the shares for weeks, it is well known in the city that Bioprogress are hawking around for another broker, Collins Stewart have never committed to a Brokers Circular because of the aforementioned and they are bringing out their private clients in order of importance. They want out big time!!!

So expect this share to bottom out at about cash plus 10-15 mill hope value, a value of about 25-30 mill.

A cynic might say that for the directors, I include Muncaster as a shadow director, that have performed a miracle, last year at this time they had all taken reductions on their salaries, now they have enough cash to keeo them going to retirement.

So expect a big thank you suckers from your well padded directors at Christmas.

crikey chocco
i didnt know any of that. i just read charts.
how come the chart seems to know? weird or what?
regards
jkd

jkd: not weird -- the chart reflects the knowledge and wisdom of the market at large.

Regards

MM

thanks MM
for explaining to all, i'm sure you knew the questions were rhetorical.
its nice that someone else is able to confirm my own views also. hopefully it might help others.
thank you.
regards
jkd
its nice to share with no ulterior motive or agenda.

edit...i see now you did indeed answer all questions fully,rhetorical or otherwise.you are clearly the Wise part of other.

My CEO has an MBE for services to industry in Wales , plant made about 12 million last year and and has always been profitable and he gets around 120k a year plus profit related bonuses and we have 65 million in the bank.

Compare that to what rip off BM was taking from this pile of crap and it puts it into perspective.

Anyone know if he is still leasing the place in March , Cambs to mdx ?

Think you be able to buy some more cheap ones today tabby , sub 6p ?

ChocoI understand your postmany of us on the way up act in a manner that seems alien todaymyself includedBarry is 63...he has been there and done it and maybe not exactly to the letter of the lawbut neither has the currant most powerful man in the Word?
Would Denise Van Outen now sleep with Garry Glitteras she did allegedly at the age of 15 before any fame came her waywas the casting couch not used by many now respected actresses
In 1988..Richard Branson wanted to buy Virgin Music back for the same amount of money.. per share.. that he had sold it for valuing the company at 248m. The shareholders agreed.. although they were unaware that Branson had already agreed to sell the same shares to Pony Canyon.. a Japanese media company for 377m
Here is a point of viewwhich at the end of the day is just another point of view?
You pays your money..yer takes yer chance?

aflynn - 11 Dec'08 - 22:33 - 21167 of 21223

For what its worth, I grew up with Barry not literary but in the same time span, I know all about Oracle, the jade partnership and his career. In these days one had to be brash and brave to succeed. I even made carbide bombs and when caught I got a big kick in the arse from a bobby and a few clips round the ear from my Dad, nowadays I would be classified as a terrorist and could sue the bobby and my Dad for assault, probably win.

Those who bring up the far away past are not reflecting on the present, He has a lot at stake, he maybe does not have many shares but no doubt he persuaded friends like many of us to invest. As Bella says its difficult to face them. He posts openly on the BB, answers his critics in a forthright manner, offers to show documents to those who question his motives.

He knows full well that if he is on the make then his name would be mud and be held in less esteem than RT. Those on the BOD who have no real investment interest have only a job to lose and such is the convoluted state of our financial and company management they would no doubt step into another position as it seems apparent the one thing you must have on your cv is at least a failure.

For the past few months we have cut our own throats through bickering about minutia, most of us are losing thousands of pounds, some have lost their house, some their friends and worst of all some have basically lost the trust of their families. Agreed many were greedy and overstretched themselves to end up in this financial mess.
This is not the time for blame but the time for action, what are Barry's motives? I would imagine the same as all of us who have invested and that is to recoup our money. I go even further I would like to see the our IP play a dominant role in a futuristic pharmacy industry.

Give the man a chance, it appears that it is our only way out of this mess. No good sitting on your arse, on the sidelines carping about what you would do, up till now most of us, I include myself have done nothing at least Barry took his finger out weeks ago

wheelbrace1 = trevillion
2ronnies = trevillion
vxr20 = trevillion
Hambi = trevillion
Scrutable = trevillion
Trevillion= TREASON

Whats that saying now ???

Oh yeah ... once a thief always a thief.

:o) :o) :o) :oD :oD :oD :oD :oD :oD

Sorry, you have to laugh, well, you'll cry if you don't.

Do you think there will come a day when the likes of, say GSK, or RDSB will have their business conducted via a BB as MDX seems to be now? Can you imagine it? Who's going to start the ball rolling? ;o)

"I grew up with Barry not literary" How true those words are, how very true.

MightyMicro a very good morning to youhope you are well

lol MM

Must remember to ask Barry why if the judge in the court of law (under oath ?) didn't believe he was telling the truth then why should anyone on a free internet bulletien board.

Showered changed and back off out to party , good weekend all .. even you tabby :-)

Lol - nice point Dil.

Have a great weekend all, and yes, I also include the dhe-take-it-the-ear-for-a-beer-lying-rb in these weekend wishes.

G

Phoo Kin Nelll , thats good of you Gausie :-)

Hmmm - strange of Tabby not to sign off for the weekend with a cheap bottle of chilean plonk. Guess he must be in what he likes to refer as 'the west wing'. We'd call it 'round at next doors'.