RE: Stone cold.1 May 2024 20:25
Just gone back and checked - the 2022 Annual Report (that BDO signed off on in May 2022) stated that the P2 trials would commence in H2 2023. It would be interesting to understand what future projections (which underpin the Going Concern assessment) have been provided by the company to BDO for the audit this year, and how much confidence BDO have in those.
It's probably going to take a compliance issue like this to force the BoD's hand to undertake a transaction. Otherwise you've got a "law unto himself" CEO happy to keep taking a £350k package for "leading" an organisation that has no trials to run, no customers to serve, no manufacturing to do, no communications to bother about.. but 30 staff to help out just in case.
You really couldn't make it up.