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That was the whole point of the recent rights issue - from my own calculations, the monies raised provide the company with enough liquidity until at least end of 2024 so making out they need a further cash raise now, just a short time after the rights issue shows a basic misunderstanding of figures and balance sheets. In fact as they move into a free cash flow position, the chances of a further rights issue recede markedly, and it is easily possible if business normalises as expected, and some decent wins come in, that no further rights will ever be needed. A lot of staff were culled, this company's cost base is now materially lower than before.
I can only infer that those who repeatedly mention that they think a rights issue is likely then in the near term have ulterior motives for their comments. Perhaps they are former sacked staff, or shareholders who lost big time when the price collapsed from £14? Who knows, but we really do not need everyone with a grudge on here.
Cash at end of H1 of $3.2m plus $30m raised less $5.5m (costs of raising funds and the investigation paid in H2). In H1 cash burn was $17.6m. Forecast cash at end of year of $16.0 -$16.5m . All these are management figures. Unless significant increase in revenue (H1 - revenue $3.0m) or further cost reductions - there will only be enough cash to last less than 6 months which is why a rights issue, if possible, is likely.
@walkley Do you really think Kelly would be attracting senior hires to join, including this key hire from Sage, if this wasn't a long term opportunity...?
https://www.linkedin.com/posts/stephenkellyceo_wandisco-excitingopportunity-alliances-activity-7113058269920641024-NSNh?utm_source=share&utm_medium=member_desktop
Seems a lot going on behind the scenes at WAND- thats a serious hire https://www.linkedin.com/in/destinibaxter/ she would not have moved after 7 years at Sage if things didnt look promising here. She's very much in with key people at Microsoft and Amazon. News Q4 re new name and branding, new ticker too. Technicals look good for 100p + over next few weeks. Future funding will more than likely be well in excess of where we are today, and at that juncture, could be a strategic investment.
Lots to look forward to.
@Guiness25
Quality post.
Recommended.
Some after hours trades in - not huge volume but not been published until close. I think the rise should continue, stock looks to be in the ascendence.
This is all hugely positive in my mind.