Transdermal Cosmetics
AVOIDPLUS-quoted Transdermal Cosmetics plans to take US housewives by storm with a wrinkle-removing cream.
The Surrey-based hopeful, whose corporate adviser is the controversial Atlantic Law, plans to launch its Entre Derm creams in the US in November via a volley of television ‘infomercials’. Transdermal's balance sheet is burdened with a $30.7m convertible loan and a $4.8m short-term loan, which cover the main payment for $48m-worth (£29m) of pre-booked adverts.
Finance director David Kingsnorth believes the infomercials are ‘the best route to market’ and, through 20% shareholder Media International, has done a deal with a top infomercial producer to produce these at cost price, with the first ones hitting screens in November. ‘We accept this is a highly competitive market place, but ladies are constantly looking for the next product to make their wrinkles vanish.’
‘The beauty of TV is that you get instant results – people ring up and buy straight away,’ he enthuses. The company has deals in place to outsource the manufacturing to an FDA-approved laboratory and has booked a call centre and a ‘fulfilment house’.
Transdermal, which was spun out of a company developing the technology to enable insulin delivery, plans treatments for acne, lip-plumping and stretch marks in the future. Kingsnorth, his wife and mother all use the anti-wrinkle product already and he says ‘it works, as far as I can see’.
Such are the vagaries of PLUS that Transdermal's market value halved from over £100m in August, after a solitary investor sold at 2p – the sole transaction in the shares since December. This price still contains much expectation, as, on top of dwindling cash levels, Transdermal still has plenty of uncertainty ahead to recommend it just yet.
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Market cap: £42.67m
PE Forecast: n/a
Share price: 3.5p
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