nanosynth group PLC - London-based company specialising in the synthesis and application of nanoparticles to create new and improve existing products - Says that with its current cash resources and an expected VAT rebate, it has sufficient cash resources to finance operations through to June, not factoring in any capital expenditure.
The company is also finalising a claim for a Research & Development tax credit, which may provide additional working capital beyond this date.
nanosynth acknowledges that it does not currently generate significant revenue, and that directors are aware of the need to secure longer term financing. Says that the board is evaluating a number of potential funding options, "but there can be no assurance that these will be successfully completed within the required time frame".
Current stock price: 0.070 pence, down 63% in London on Thursday afternoon
12 month change: down 87%
By Holly Beveridge, Alliance News reporter
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