RE: David Sefton / EHGOS Links5 Jul 2019 20:38
Regards how they will grow this.. prudently at first. Remember they aim to be cash flow positive as quick as possible (see Proactive videos) . The £1m contract helps this case, one more and they’re probably golden. Plus.. from presentation..
– Long term funding commitment from Alpha Blue Ocean, which has financed the resolution of creditors and is committed for up to £11,359,231 of further funds.
– No immediate need for equity fundraise – board committed to first proving out the new business.
https://www.proactiveinvestors.co.uk/upload/SponsorFile/File/2019_03/1553258847_4---Widecells.pdf
And from recent RNS.
“The Company has an aggressive growth strategy, including making targeted acquisitions and will, going forward, look to support its activities through more traditional forms of debt and equity issuance and will seek to avoid structures with variable conversion where possible.”
So.. let’s get this messy changeover behind us.. move forward as Iconic Labs with new name, new team... and see where we are in 12 months. 3m market cap? Don’t think so...