u/Complex-Reality9407

TXTM is an interesting stock if you actually read through the whole story. Obviously unaudited financials right now, so this is forward looking and either they execute or they don’t.

The current owners took over in 2022 when the company basically had debt and no assets. What always stuck out to me is they put a 2M pound order toward the company before even having skin in the game, then CE hit like 10 days later. During CE the chairman started buying shares.
Fast forward, CE comes off in 2025 and since then you can literally watch them building the structure of a company that looks like it’s trying to go beyond OTC.
Balance sheet went from basically $0 assets to around $600M under GAAP. No dilution. No salary. Management says expenses have been paid out of pocket. IR built out. Deloitte enterprise valuation started. They’re voluntarily reporting through EDGAR where you can see the chairman’s previous Form 4 showing 775M shares, and Q2 financials put him around 830M.

They also say the 2022-2024 IFRS audits are completed and they’re onto 2025. IFRS audits obviously aren’t something an OTC company needs just to stay OTC, which is why I find it interesting that they’ve spent the time/money doing all of this while repeatedly talking about institutional readiness and uplisting.

The biggest question for me is what happens when/if those audits actually get released.
The current ~$600M asset base includes pharmaceutical ingredients carried under GAAP at extremely low historical/book values. Their filings discuss values around $15-$16 per unit versus the $1 carrying values. If an IFRS treatment and independent valuation ultimately supports materially higher values, the balance sheet could look completely different. That still has to actually happen though.

So to me TXTM is pretty binary.

Either all this work leads nowhere and it remains an OTC stock, or they release the audits, complete the valuation, lay out the uplist roadmap and potentially move toward a foreign exchange/institutional market with a significantly different asset valuation.

What makes me keep watching is the chairman sitting on roughly 830M shares after 4 years, no dilution during that period, and the amount of infrastructure they’ve been building since CE removal.

If the guy was willing to bring a 2 million pound order to the company before owning a single share, it makes you wonder what the plan is now that he owns almost 10% of the OS.

Nothing guaranteed here. They still have to execute. But if an uplist eventually happens, nobody can really say the direction came out of nowhere. They’ve been telling shareholders what they’re building toward, and over the last year you can actually see the skeleton being put together.

Everything I said can be verified by chairmen tweets - company official tweets - Edgar filing form 4 and 8k and company press releases

So now it’s just waiting for the execution on why they seemingly are holding back the audits strategically

Let me be clear the audits are done not released, skeptics say that’s sus…. Fair enough - but instead of diluting etc the chairmen continues to accumulate shares - all I’m saying is I’m following the money and the chairmen’s alignment - this is where my trust in the execution comes from

Will post more in the future as updates come out