RE: Rdt4 Mar 2024 10:12
Unfortunately today's RNS essentially says they will run out of cash in the next few months, despite the CEOs positivity.
See excerpt below..
Consequentially, the Company expects to report revenues for the year ending 30 April 2024 in the range of approximately £2.8m-£3.0m, with a corresponding adj. EBITDA loss of between approximately £2.6m-£2.8m. Cash and cash equivalents as at 29 February 2024 were approximately £800k. The Board continues to closely monitor cash to ensure that the Company has sufficient resources to execute its growth strategy. Cash burn and customer acquisition cost are expected to reduce as the Company converts its pipeline in the coming weeks and the Company is seeking to improve contract payment terms to include upfront payments.