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So I called this absolutely spot on.
And this placing is not for expansion - it’s literally to keep the lights on.
Huge operating loss to boot (increased from last year due to high litigation costs) means they were no where near the forecasted break even. Not even close. They’ll be lucky to get 10p.
Bloodbath on Monday morning.
No wonder we haven't heard much from the new CEO - must have thought what the f have i let myself into! until now hadn't contemplated the biggest risk as we are in danger of going to the wall rather than the legal battle with Illumina.
I'm in a few AIM stocks and, at present, I'm struggling to think of one set of Directors/CEO's that I trust. In general they take too much remuneration, spin yarns and generally fail to deliver on promises..
I must set up some sort of AIM Company. It seems like an easy place to make money provided you're not a shareholder.
Certainly the usual trashing of the share price each time we lift our heads, but new broom and still have TW's news to come. 10p by xmas Tom! Lol
While not as good as predicted there will be an element of a new regime kitchen sinking as much as possible to show their performance in a better light going forward
cashcall,...first of many it seems.Feck me, they know how to spend it don't they? Novel idea, how about they all take a feckin wage cut (50%) until they are in profit...yeah bet they will!!
What's happened since March when they told us about being at b/e ...not until next year at best now ffs!! just lies and more lies...How the feck can anyone believe a word they say..??
Clearly reality is the opposite of what TW predicts! Was the 25p by Xmas? Based on these results absolutely zero chance of that - would have thought holding the placing price of 10p by the end of the year will be a big bonus. Not convinced they will easily get the placing away at 10p - can see the market brutally saying what it thinks about Prem on Monday at opening. The battle with Illumina has certainly taken a huge toll.
didn't some one say defo no cashcall today? how wrong could they be, hopefully we can stabilise and move forward I'm in no rush this will prosper in time the storm is just taking a little longer to subside.
Looking for 7,000,000 shares at 10p ie £700k. Am I reading that properly?
I am comparing revenue NOT test volumes. Fact is H1 revenue 2018/19 was £3.8m and H2 revenue 2017/18 was £3.55m. This is not a seasonal business so that makes growth of 7%. Of course I need to see the detail of that revenue but it’s single digit however you look at it.
Hemo growth is +6k tests H1-18 vs H2-17 = c. 22%. NOT 10%
seems the battle with Illumina has taken them to the cliff edge. Talks of another fund raising soon after the one proposed today.
'The new CEO is currently leading a strategic planning process which is due to deliver a revised business plan in the coming months, when the directors anticipate that further fundraising will be required to support the execution of that growth strategy and also ensure sufficient liquidity for the business.'
Revenues increased by 35% on a like-for-like basis. Pretty good if you ask me.
Pretty disappointing. No mention of operating breakeven this financial year. Growth in H1 2018 vs H2 2017 non-existent at less than 10%. Did anyone spot anything positive we didn’t know except we will probably look to enter the US market? Why did this have to wait until after hours?
Suggests the results are pretty disappointing and not close to operational break-even at the end of financial year 2018 (ie as at 312/03/2018). Will they struggle to get the placing away at 10p? Also not a major dipping of directors into their own pockets as part of the placing (given how minted Bill Chang is especially)?
is this why it was released at the last minute. I know going concern statements for AIM companies don't always read the best but this was the last bit.
The Directors have concluded that the combination of these circumstances represent a material uncertainty that, if they were to transpire adversely, may cast significant doubt upon the Group's and Company's ability to continue as a going concern and, therefore, that it may be unable to realise its assets and discharge its liabilities in the ordinary course of business. Nevertheless, after making enquiries, and considering the uncertainties described above and mitigation strategies in place, the Directors have a reasonable expectation that the Group and Company will have adequate resources to continue in operational existence for the foreseeable future. For these reasons, they continue to adopt the going concern basis in preparing the Annual Report and Accounts.
Placing + results ... oh the joy.
Just announced along with the results
But what is due is the accounts for the financial year ending 31/03/2018 - they are not unaudited interim results.
Companies House says accounts for financial year ending 31/03/2018 are due by 31/12/2018.
So what’s the latest time for an RNS? 23:59.59?!!!
Just a thought - all RNS's on my list were headed as follows -
Unaudited Interim Results
for the six months ended 30 June 2018"
Curiously, the heading for last years RNS states as follows -
"Full year results to 31 March 2017 and half-year trading update"
Confusing to say the least. Going back quite a long way but I can remember somthing about how Terry Bond addmited to setting the company up wrong and somehow submitted the finantial starting date for the company on the wrong date. This is all very vague but I'm sure Bakky's the man to remember what actually happened.
Not really richman77711428 Sep '18 - 16:40 - 6084 of 6086 0 0 0 the 100k blocks was IG Index buying in the market to hedge my spread bet-400k shares richman77711428 Sep '18 - 16:41 - 6085 of 6086 0 0 0 sorry-500k (£5000 per point) topped up right before the bell
Somebody knows something ...looks like an ii buying blocks ...to the wire ... all very odd.
RNS will be issued today
Looks like we will finish over 12p I think with some taking a position - last chance for some
Florida your post made me laugh.
Hopefully there'll be a shareholder support group for those left at the end
We live in hope ...