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They haven’t got a CFO, he got booted out with the previous CEO.
Don’t they have to notify on director dealings?
Maybe so but it is amazing if the CEO and CFO really didnt take up there warrants even then. What does that tell licence customers or investors or staff?
It’s a basket case
If that is true what does that say?
No the CEO and CFO haven't put any skin in the game, only the chairman did.
But why not do a trading update before a raise, why discount the warrants if cash in coming in? The why the where’s! Ya pays ya money ya makes ya choose.
Thats fair but they could have license income or even loan repayments from the leather tanning business? Dont know how much that would be or how long that would buy them though.
Still cant see any commercial progress at all. They have a big team. What are they achieving?
Did the CEO or CFO put any money in? Cant tell.
Because the cash balance at aug 2023 was 2.5m, they’re spending 500k per month and they just raised another 1.6m - you do the math!!
Where do you suppose cash is coming in from? Have you seen the financial number??
IP group, Invesco ,walker crips , Woodford investment fund, to list a few who all lost significantly more than conacord are going to lose on this, I’d assume that they weren’t run by donkeys too, these guys are a mere rounding error on their balance sheet.
Anyone can lose their own money where ever they want to. I was just correcting a misleading statement from someone who’s done no research.
Thats a good point. Would like to see some commercial progress though.
Massive assumption that there is no cash coming in clearly.
Don't think Canacord Genuity is lead by donkeys. Rather follow them than random derampers
How would you know they only have 3 month cash left?
Don't think Lombard have changed their position - drop in percentage simply reflects dilution
Cannacord on the other hand have upped their stake massively- up from 13% to 18.5%
Cannacord now have 38,809,146 shares.
They only have 3 month of cash left even after the fire sale of options.
Based on their own forecast of breakeven December 2024 (hahahaha) they will need to raise money again in April, with only a couple of institutions taking up their options it suggests institutions are losing support.
“Cash for the year” wow either a blatant ramp or someone’s not even done some basic research.
Lombard Odier's stake has reduced from 13.88% to 10.91% following this raise. Isn't that a negative, as they didn't top up their holding? Yes, the company has more money from the raise but how much is it after fees? For me this is too risky.
Cash in for year???
Pretty decent take up of the warrants. Rest now expired. Cash in for the year, now if they can generate the revenue from these contracts as stated in 2024, things might get tasty.
Someone has confidence. RNS
They raised more than I expected. I opted not to partake as I expected the SP to drop back and have no confidence in the company. The CEO and Finance Director are not impressive or convincing and I was waiting to see if they put their money where their mouth is.................looks like they don't have confidence in the future either
£1.68 mil more cash is good even if less than half the warrants were exercised. Let's see them use it now!
Xeros really is a mystery. With a day to go they will have raised maybe a few hundred thousand from the warrants? I cant really tell. No news on whether the CEO backed himself with his warrants like the Chairman. At a guess they will have enough for a few months of operations with there cash burn. Are they expecting commercial income soon from the leather tanning company or one of there other customers or will there need to be a raise this year? They look good and regular on marketing activity but the opposite on everything else. Still nothing commercial signed since May 2023 and from that deal the yilmack website shows no Xeros machine more than 7 months later. IFB have a Xeros machine on theres but not the household one. No video of a working prototype of there filter. Is it a worry if they begin to be low on cash what good staff they have will begin to go if they havent already? Can they even deliver there current licence obligations? What is staff morale really like? There C suite externally to the market are a black hole when you would expect them to be pushing their message hard. Why is that? What is happening? Why should I invest?
I’d assume that they had the nod from some of the institutions otherwise this is a massive gamble.
With time running out on the warrants.
Has the CEO exercised his warrants yet? Are there any commercial wins?
How much capital does 1.5m share raise?
This is probably the last month they can afford the payroll, I hope for their sake that everyone is leaving it until the deadline.
Positive action by the Chairman. It will be telling if the CEO does or does not do the same.