Items to consider when looking at what would happen to BPH's...

Items to consider when looking at what would happen to BPH's value if NOPTA approval was not given:
1) Well remediation costs for EP386 which BPH has suggested would be about $2.5M (from BPH website):

This needs to be dealt with by Onshore/Advent/BPH (as the controlling company).
2) Patagonia Genetics is part of a research programme at the moment, no update on the production facilities and expansion of farms that would enable supply. BPH included the following note in the Annual Report in relation to its investment in Patagonia Genetics:

appearing to indicate that this investment is not worth a great deal to BPH.
3) MDS - BPH has fully impaired the value of the loan to MDS and the carrying value of its investment in MDS (BPH Annual report). Again questioning the value of this investment

4) DAS - has assets of $251 as at year end (BPH annual report) and liabilities of over $365,000. Again questioning the value of this investment.

DAS is also not listed in the BPH assets:



This leaves:
1) the permit RL1 in Onshore Energy that has the $2.5M remediation bill for the EP386 permit.
2) Cortical Dynamics investment. FDA approval in the US would be the first step towards having it supplied to a Philips or similar. However since the announcement on 22 July 2020 of the start of the FDA approval process there has been no update provided and it typically takes 90 calendar days as per the FDA website for this review. Following a successful application, additional time would need be required before a contract with Philips (or others) and then start incorporating it into their machines.


Not sure what else is on the cards. Happy for someone to fill in the gaps.