Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
RF have no shares currently, this was confirmed by Russ in the recent presentation.
I still struggle with why the company didn’t do a big equity raise in March 2023 when the sp was in the 30s and even reach as high as 40p. The RF deal kept the company going for the past year but has dragged the sp all the way to rock bottom. It was a disastrous deal and needed positive news flow and good liquidity to go hand in hand for a good outcome. Of course we all know now the liquidity dried up almost over night after the death spiral finance deal was announced and there has been precious little progress on any front to shout about. The processes GDR has to go through take years not months.
I can’t believe they couldn’t have got an equity raise at the time for say £8m at a price of 15p. Yes, that would have been a huge discount but anything would have been better than the option they took. Given what’s happened Budd had to go but…why is the CFO still in place as he would clearly Harv to have been central to any negotiations. Maybe that’s why he’s so tight lipped in the presentation. I can never quite get out of my head the fact that Budd worked for BC and could possibly have been an activist on their behalf trying to bring GDR to its knees and thus a cheap and easy take over target. We’ll never know.
Now the sp is at 4.5p, the mcap is roughly equal the amount GDR needs to raise more in order to survive to the point where it can stand on its own two feet. Well played Budd and Russ. Long term share holders have lost tens if not hundreds of thousands of pounds thanks to their poor judgement and lack of business acumen. Now the company needs a miracle. It’s quite likely this will have to be taken private to survive but James Cheek appears (to me at least) to be keen to rescue the situation. If he was planning to take gDR private then he would not have said in the presentation summing up statements that GDR is in a ‘brilliant’ place etc instead he would have ignored that and stressed all the negatives and provided the justification for taking it private - and given himself the perfect excuse for doing so.
why woukd Russ have talked about an open offer in which existing sharebholders can participate? it might not happen buy why mention it at all if it's not an option.
I would like them to do this open offer now. see how much they can raise and then use one more RF drawdown if necessary. ikn of course buy I think Cheek has a plan. There is no way this will go bust. Cheek would not risk the livelihoods of nearly 50 employees. there must be an option lurking somewhere. we just have to hope it's not the nuclear one for us retail holders.
During the call the CFO said that the company thought RF no longer had any shares “because of the huge volume of recent trading.”
That doesn’t sound like he knew of it from RF themselves?
We don’t know I guess.
Personally I’d be surprised if RF held any remaining shares.
Interesting week ahead, I’m really looking forward to it! Amazing how much more relaxed you feel sitting on the sidelines rather than having skin in the game (although I have other large positions which are very high risk, high reward and a source of anxiety). Holding shares skews your perspective, you can’t be objective however hard you try.
If there’s a huge spike and I miss it I’m comfortable with that. If the company goes bust or is taken private, that’s fine too. If there’s an equity raise and the price tanks I’ll buy back in.
GDR isn’t an investment it’s a soap opera. And a very entertaining one at that. :-)
If there is still some kind of fund raise coming can only think it's been held up by them waiting for RF to sell their shares. But surely RF have by now managed to sell all of that last £600k from the drawdown on 2nd January.
Personally I don’t think so. There may be a substantial equity raise and for which perhaps a hefty % of future profit goes for who ever offers the financial support that’s needed now.
Another thought that many have forgotten about, me included, is that the Chairman Gilham has a history of selling companies for large sums. I don’t think he’s going to let this go for peanuts. I think they’ll middle through with RF drawdowns and with Full Recommendation from NICE r we will finally see the sp up and then we see a placing, in which we can all take part. With a lot of luck we watch GDR finally become financially self sufficient generating plenty of revenue from sales of RNR1 and CYP2C19 to come later. At this point I would hope GDR becomes an attractive proposition to bigger players and we all ride off into the sunset with a generous takeover bid. There, that’s my Sunday morning idle thoughts…
Will the I.P be in new hands when being rolled out!
Will we be seeing some 🚀 🚀🚀 this summer ? 😳
Great post Lionel1
Well the post L has posted says it all ... the plan has been there for some time to get these devices up and running .. hence there is something going on in the back ground for sure .. funding i believe wont be a problem ...
Yes.
And they burn through 100K a week, so by the time the market reopens on Tuesday there’ll have spaffed another 30K or so. Doesn’t time fly?
Still you have to think Cheek will want his salary to keep being paid, (what with such a fantastic job he’s doing and all), so one would expect a draw down in the next few days if they can’t get a placing off before it’s game over.
And Cheek burns through £1k per day on his own!
This probably the lowest their cash has ever been - currently only about £500-600k....
Https://www.lse.co.uk/rns/GDR/receipt-of-rd-tax-credit-jixrkavsshlq7cl.html
I wonder why they scared shareholders with this news and still haven’t raised funds. That was main reason I sold out as they made it sound like it is very soon.
Wow Tiger, wrong again. I bet you’re glad you came back so soon!
Thanks lightning
There are some who have said no II would invest here the way we are financially , and to a point they are right , but on the other hand we are a perfect fit for an II.
Why, because we are no longer just an R and D company as we now have world class products , 1 already on the shelf being sold , all be it slowly, and 1 hopefully in July fully on the market , with timelines established.
From the presentation we know its 12 months for data gathering in the US, 2 years for NICE but with these combined that could well be reduced . FDA website states $500k cost for De Novo application with 150 days timescale for news. With the partner news in the US , will we fund the test and machines or supply at cost as they will be sold to parents i assume so just pay for data gathering????????.
£2m for US , £5m for running costs for the next 12 months, plus £2m just in case we run over = £9m
£3m placing now at 3.5p to give us stability , and then when the sp gets to 10p which it would easily with conformation in July then £4m to the II at 5p giving them 50% discount , BUT also £2m OO to all shareholders , rewarding them also .?????
Shut Monday... you numpties.. 😅😂
Thanks Guy ..the power of manifesting positivity
Yes mate huge rerate guaranteed on Monday
Why would they wait until after hours to release a RNS.. ???
I Believe if that is the case It would be good news , and allow the weekend to get the news out and then rerate on Monday ... something coming today I feel it in my water
They’ve always been very insouciant about costs tbh. A burn rate of 400K every month for years.
No interest in cost control at all. None.
I saw somewhere there were 43 employees! No wonder, with no revenue to speak of yet, they keep running out of cash.
If they were confident of the future, the Management Team would have paid themselves in options and foregone a salary for a few months. That would eeked out another Q of funding.
Come on Petro, let’s have it then…
Don’t be left holding the bag!
Roger65 - Shut up!
The way this is heading, i think a retest of 3.5p is on the cards