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Please show us what research indicates there is a high demand for a POC test??? As already indicated the focus is now on mass testing for which there are LFT's. PCR is too expensive which is one the reasons it is being phased out. No one is going to interested in a POC test, cost a wooping £30 a time. Organisations don't have unlimited funds and run on budgets.
How long before the next placing, I wonder?
Placing last year was announced May not July, closer to 18 months than a year.
how much will the directors salary + bonus cost the shareholder this year?
How much did they cost last year as a percentage of the 8 million placement that lasted approximately one year (july 2020 to september 2021)?
That's the risk you take Benny, could go either way. It's either you believe or you don't, put up or shut up as they say.
The net proceeds of the Placing alongside the Company's existing cash are intended to be directed towards the following areas of the Company's operations:
35% of the Group's financial resources are expected to go towards funding the rapid development of the GDR COV POC. The system is expected to receive a CE mark in October 2021. In addition, the Company intends to develop a second generation of the GDR COV POC which is expected to include the bead format utilised in the Genedrive® 96-SARS-CoV-2 Kit and wants to also include functionality improvements such as the ability to utilise saliva as a sample. Finally, the Group expects to undertake some initial activities to prepare for potential FDA studies for the GDR COV POC however additional funding is required to properly initiate and complete such studies.
15% of the Group's financial resources are expected to go towards supporting the commercial roll out of the AIHL text including new business development and support teams as set out in paragraph 2 above.
50% of the Group's financial resources are expected to go towards additional product development, commercialisation efforts and general corporate costs until the AIHL test and GDR COV POC are capable to support the Group's overheads. Product development is going to focus on some early pipeline opportunities. There is some moderate investment required to build additional freeze drying capabilities and reduce development timelines on product enhancements, as well as attaining dual supply of the Genedrive® instrument via targeting on-shoring solution in addition to the current offshore supplier.
https://polaris.brighterir.com/public/genedrive/news/rns/story/wkled1x
After the shares are issued (including open offer) the mcap will be more than that... about £25m at 25p, but as you point out they'll have an extra £10m cash, so that alone should push the share price up to about 35p (£35m mcap). Before any upcoming news about AIHL and POC...
Might be - I'm already kicking myself for not buying any yesterday! I'd like a few more under 25p.
Even with the new shares there will only be about 100m shares (assuming open offer taken up in full) which is still a really low amount in issue. Compared to many other companies who have billions.
This is the first Placing I've been involved with where the SP drops below the Placing price. Makes me wonder if this is falling to pre-pandemic levels. With the company now at production stage with it's tests, zero debt, and now with funds available, I dont see how this is possible. The only downside to the Placing is the dilution. With more shares in circulation there will be less volatility, and could be a slower crawl up rather than previously where the SP flies on good news.