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Very cheap now, seeing these were 440p in the last 12 months
Even if the revenues predicted for this year which were £8million are not met, look at the valuation of the company now, crazy!!
No, they have an agreement with Accelerated Payments Limited:
The Group had a cash balance as at 30 June 2022 of £0.7m (30 June 2021: £1.4m) and no bank debt.
We are pleased to announce that the Group has entered into a receivables financing agreement with Accelerated Payments Limited. This highly flexible facility has been put in place to provide working capital funding, as and when required, as we look to grow the business over the coming months and years.
May be a future fund raise.
Terrible reading ... "· The Board now believes that Group revenues for the years ending 31 December 2022 and 2023 will be substantially below current market expectations with a consequential substantial impact on the Group's loss/profit before interest, taxation, depreciation, amortisation and share option charges in those years
· Despite trading conditions deteriorating significantly, the Board believes the Group has sufficient working capital for the foreseeable future."
This is now ridiculously low!
magic , not even a positive spin
God help the shareholders here!
Again biome tech is high temp plastic that's bio degradable and brittle, so limited in application.
in other words perfect for coffee pods and tree protection.
Looking to find contact details for Paul Mines' email address if anyone knows it please.
paulwhite82 im afraid you may not understand chemistry , ITX could make these products but not Biome.
Its down to the fact Biome make bio plastic more brittle and has less applications.
Bio plastics is a vast range of company's out there.
High Heat is a high point of biome Tech compared to others
With less than a million left in cash, which at current run rate gives a little over one year until a fund raise will be required. I guess the company may have to raise before the year end or at the very latest within the next 12 months. A raise, if priced correctly, may strengthen, in the medium term, the share price.
https://www.nottinghampost.com/news/nottingham-news/boots-stop-selling-plastic-based-6969876
AGM Tuesday 19th
cash is currently £900k and BIOM is loss making so it is definitely a concern. If revenue growth is achieved as expected things may be ok but how often do things always go to plan? What if a big order is achieved? The lag between manufacture and payment could be 3 to 6 months. A placing cannot be ruled out - let's see how things look at H1.
Tap investors for Investment , without this Biome T would be dead in the water.
Fund raise will be required , do like the company but we need someone to give fresh insight to the stall BoD.
Mainly on innovation to adapt the products
Biom has a current market Cap of £8m with revenues of c. £6m. On the company’s current projections, it has cash for a couple of years with no debt and expects revenue growth of 30% in the dominant bio plastics division in 2022. A risky bet but it wouldn’t take much sales growth for it to reach breakeven over the next two years given its gross profitability.
I got out of this a few years ago, would have needed it to to be a 10 bagger to get my money back.
Talking of JW I invested heavily in Trufin.
There should be on announcement within the next 2 weeks that will push it north.
Any of you fellas a member of the club and, if so, are you getting any value from the thing?
Parpaing so correct but all we need is a new CEO that can take us forward , also its not just grants but fund raises.
Great company but in the wrong management
That’s why I got out a long time ago!
BIOM is primarily an R&D company. It doesn't have an aggressive, professional sales team. Sales are farmed out to other companies such as Sure-Green and US manufacturing companies. That's why the share price has dropped from 600p to today's miserable price. Every year BIOM makes a loss yet doesn't have bank borrowings. It gains money from government grants.
Profit warnings come in 3s they say. These had 2 in past 12 months, wtf. Have supply chain issues been resolved and these need cash soon?