An article on Every co. Securing funding from US DoD. Looking to establish a US factory as they ramp up production over 2025
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15 million+ shares traded before second breakfast. Either some news is incoming or ANIC has popped up on the traders hit list as eminently maleable!
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EU signs Every patent
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Hey Chris, just started reading your comments they are really informative. I randomly bought a bit of stock on trading 212 just because I liked the idea of cellular agriculture but havenāt done much reading into it. After buying the stock I came across this forum and definitely makes me not regret my actions.
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Hello, I have a question about the financial statements.
https://polaris.brighterir.com/public/agronomics/news/rns/story/xe337jr
Whatās the deal with the Ā£7.3 million write-down on Geltor Inc.
Can anyone help me?
As I understand it, Agronomics now has hardly any shares in Geltor.
Many thanks for the answer!
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With help from our AI friends:
Agronomics Limited (ANIC) has written down its investment in Geltor Inc. by Ā£7.3 million. This adjustment aligns with a new valuation established by the lead investor in Geltorās current funding round.
A write-down occurs when an investmentās book value is reduced to reflect a decline in its fair market value. In this case, the devaluation of Geltorās shares led Agronomics to adjust its investmentās carrying value accordingly.
Geltor, founded in 2015, is a biotechnology company specializing in the development of animal-free, sustainable proteins for various industries, including cosmetics and food.
Agronomics initially acquired 1,069,593 preferred shares in Geltor through a secondary transaction announced in February 2022.
The write-down reflects a reassessment of Geltorās valuation, which can be influenced by factors such as market conditions, company performance, or changes in investor sentiment. Such adjustments are standard practice in investment management to ensure that portfolio valuations accurately represent current market realities.
In addition it is worth remembering that ANIC wrote down then wrote up Umami. They have also written down Vitro labs. It is difficult to say what these write downs mean at the moment since there are no companies in the portfolio in any decent revenue. Some fag paper maths here, but Id say it is highly possible that over the next two years there may be 10 plus write downs. All companies in the portfolio require additional funding. As the great hope Liberation Labs have mentioned we are living through a funding graveyard and it is even worse for startups and even worserer (yes!) for companies that are in a nascent industry. That said my hope is that 2025 is the start of something (especially Meatly and Onego). That doesnt mean bags of revenue just some products on the shelves.
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The EU looking to steal a march on backward thinking in the US. Looks like in the cellular agriculture sector it may be a footrace with EU, Israel, Australia, China and surprisingly the UK
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UK gov food security paper. Topline looks like cell. ag. is required
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I just wanted to thank you @ChrisGM for all the work you put into this thread.
I think that the kind of businesses you post about here are going to play a big role in feeding the world whilst preserving, and hopefully enabling the rewilding of*, the natural environment.
*Iām thinking of the Amazon rainforest and maybe the barren wasteland of the Lake District not your local wheat field!
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Hugely generous of you Mr Cow, and previously Alimmly also. I am, be warned, egregiously optimistic about ANIC. Mainly because no other such vehicle exists on any other market in the known universe (except maybe CULT - Canada).
There are of course worries: Geltor and Vitro labs have been written down (Geltor has been tipped as a 2025 unicorn by a solid publication - apologies I forget where and Vitro labs is a big shame but then Umami was written down and then back up again).
Also worth noting that Liberation Labs (around 30% of the portfolio) was supposed open nowish and has been pushed back to H2 this year. Effectively no one wants to invest in the new. However, there with the focus on scaling this year (Liberation Labs, BlueNalu, Mosa, Meatly (all with fingers crossed)), if it works investors have nowhere else to go.
Not of course a rational thoght but most of the companies in the ANIC portfolio have made great progress over the past 12 months (even write downs). The focus on this year for the big companies is scaling and maybe some products on the shelves. But Im in the third of a 20 year investment plan for ANIC which does help - cellular agriculture is a long long term play.
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No lab meat for Nebraska. And an excellent choice of words for the reasoning, esp., āadulteratedā! Looks like we have a theme for the Trump admin., and may be a less than positive sign for the share price for the moment.
ANIC dont have too much lab meat business in the US (for humans, but Bond Pet Foods). Also interedting to see this under the lens of recent upscaling in the EU.
What and who should we believe? If Turtle Tree is on the verge of a big breakthrough, why donāt they find an investor and lay off employees? That doesnāt sound good to me. It seems as if there will be no breakthrough at the moment that will enable a major scaling.
I sense the frustration and after three years very much share it. I dont think there is anything off in the statement about being on the cusp of a breakthrough. It is as you note, a funding issue, and you can apply this challenge across all cellular agriculture companies in the world and perhaps the known universe too (why not).
I dont think it is laziness, but unwillingness. Take Liberation Labs; the usually chipper Chief Mark Warner recently went on future of foods podcast bemoaning the funding landscape as basically non existent.
Also, it is useful to remind ourselves how new this industry is. Turtle Tree was established in 2019, making a product that didnt exist in the supermarket; their progress has been outstanding. The only thing that will clip the wings of this industry is lack of funding, and guess what is not happening right nowā¦
Also, as a kind of useful comparison of funding. The big food companies have put money into cellular agriculture but hitherto it has been r&d (link below). I suppose my point here is that in terms of progress, the industry has the best minds working on it (Meatly reduced the price of their product from Ā£700 per litre to Ā£1), but it is still early. My position is that āquickā means about five years from a product and we dont have one yet. Cellular agriculture as an idustry remains in the balance and Iād caution investment unless you have at the very least 10 years of patience. But if you are gonna invest in it, there is currently only one place to be.
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Long term, this is exactly the sort of thing ANIC wants to see, and of course it is good for public health:
However, thinking in the now, the squeeze on fresh food is just absurd, especially coming from a company who made Ā£1bn profit
Bur back to thinking about ANIC, a price squeeze on fast and āslowā food is great news for ANIC
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The footrace is on fkr first to scale; China vs EU (maybe Israel, UAE and Australia in the mix).
Crazy to say it but maybe for the first time in over a century, the US are in the dust on this tech race. With all the biblical senators in play maybe even the UK might steal a marchā¦ just kidding
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