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Read the previous rns and can't see over $5m being mentioned as you claim. In case I missed it can you quote from the rns.
What the company does confirm however in yesterday's RNs is $2-$3m:
The Commercial Plan, as announced in the 2024 Polarean Strategy Update in February, remains in effect and the Company reaffirm the near term guidance of achieving revenues of US$2 million to US$3 million in 2024. A number of highly active discussions with academic and medical institutions are positive and ongoing
This placing just confirms the very dire capital raising environment that’s been around for a couple of years . However good a technology is, you just have to avoid any company that you know needs cash. It’s brutal; you have to invest in fully funded companies ( 3-4 yrs of cash )
Do you own any shares in any company Paul, or do you just come here to dazzle us with your knowledge
They almost certainly will - it always amazes me the confidence private investors have in management teams who have shown themselves to date to be hopelessly inept.
Imho Vonjako has been a disaster.
Avanti selling was a red flag. They employed a specialist to help with funding what happened there.
Because thats what the Market is valuing at this particular date.
The hope is that as the cash is spent over the next 18 Months more value ( contracts)will be created and the enterprise value increases.
However they could just spunk it up the wall.
I doubt that a lot. It's simply raising a further red flag.
So you can read.. yes that bit is very important.. that’s why I was saying, they might have a surprise lined up later, after the raise is done.. II would own a lot of shares and so will the directors.. they will benefit the most from partnership deal news
Why would you strip out the cash when it has already been committed??
Strip out cash from MKT CAP and you get Enterprise value at 1p thats £2.1M
17 years?) I can’t see them trading past 2028 in all honesty.. companies like that never stay independent.. only question is how much will we be paid when the take over happens
"The Company will require further capital in order to execute its longer-term strategy which includes obtaining regulatory approval for new indications and the commercial launch of its technology in new jurisdictions, including Europe. The Board will therefore continue to explore additional funding options, including strategic partnerships, non-dilutive government funding from grants and further issues of Ordinary Shares, subject to the Directors being satisfied with the issue price of the shares at the time."
That bit is important also.
It's not - at 1p it would have a market cap of £12m with committed cash of £11m so business valued at £12m. You don't strip the cash out as it's going to be needed to run the business!
I agree Shpunken but it’s a long term hold for me, it could be a multi billion pound business by the time I’m planning to sell in about 17 years time, and I will buy as many as I can when it’s this low
Paul, buddy, u really need to learn how to read…
If the SP fell below 1p the market is effectively valuing the business @ zero
That aint gonna happen.
No, 10p is likely to be £120m - assuming open offer taken up.
Big, the issue is that the sp could drop below 1p on hysteria alone.. yes I am expecting it to go up, not worried about that and will trade the new shares I’ll buy if it does drop below 1p.. however, long term I am not happy about the mc potential.. now 10p is £100m mc, and £1, is £1b mc.. so most we could be looking at now is 50p tops, and a lot of ppl have bought around those lvls.. this raise is nothing short of disaster, but it does give the bod an opportunity to get the sales done quicker and hopefully strike partnerships
You might be right JohnHenry but they won’t be able to buy a significant position at that price
I don’t mean to abuse you Paul it’s just frustrating it’s like chatting with a fish
I can always find something positive but it took me a while today, but I do think it’s better for existing shareholders to fund the future of the business, instead of allowing newcomers to take the controlling interest from us
I think it'll be going below 1p probably tomorrow.