Member Info for bakky

PCR tests won't be used even if this useless Govt do impose testing again. Hopefully no new strains are found in this latest crazy scenario in China.

place your orders chaps..Let's see how close to 333M we can get on here..

Andy, you can count me in!

it should have been reported well before the middle of Nov. They knew at the time of the trading update on the 3rd Nov they would need cash soon and the company was in sh it street. Didn't come across that way in the update though with words like ''solid base'' and ''remains well placed''...yeah right!

Andy, is the info in your post your opinion or words of the lawyers?

yes TW did,hmmm! I believe he wrote about the dangers of leaving a placing too late, funny that! He already knew of the predicament Ygen were in. I can't remember how many weeks ago that was now.

Andy, just posting again so it shows all day Saturday,.. in case some miss your original.

I have had some initial discussions with lawyers on the merits of bringing a case against the bod and nomad in relation to the placing.

To issue a H1 statement and then nothing in the weeks before the placing email this week shows the board misrepresented the health of the company in November and made no attempt to correct this picture and created a disorderly market. The size of the discount and amount raised only underlines how bad the situation must have been, which should have been disclosed.

I accept that many will think this is a waste of time or don't want to get involved. For those that would like to explore this or had contact with the company in the last few weeks and is happy to share it please contact me on andrewkennedy079 at gmail

** go for it **

Andy, for for it mate! I have had no contact with the company for a while.

wasn't it enough cash till Q3 at one point? Now at least 12 months.

''Taking into account the net proceeds of the Placing and the Subscriptions, the identified actions to improve
margins and implement cost savings, the Board expects to have sufficient working capital for at least
12 months from the date of the Capital Raising assuming that performance is at the median level of reduced
guidance, as contained in the Interim Results''

Stas, you reckon there will be a take up over 330m shares? GLT seems to think it won't get near..

Jam, who knows if a bigger player takes them out. Hopefully they will wait until I get a few more.. We know they are talking to a big player in the space about a ''strategic investment'' in the company. I think this investment would have stopped this carnage with the placing, but they just couldn't get it over the line in time, so had to resort to the placing.
The Clarigene had not passed the new govt test requirement, but as far as I could tell they were still selling the product. I asked them for clarification but they just blanked me, so I let it be known. They were bang out of order. But that's gone now.

yes Jamrock, I remember it well. and was proved right in the end. I too sold most of mine, just keep a small amount so no worries there. I am interested in the placing though and might take a decent punt. Hopefully most of the damage is done and there might be some good upside in the near term.

we need answers on why it was at 83% discount too! Why wasn't it done way back at 5p+. They knew they would be short of cash way back? Is it a total lack of confidence in the company that it was discounted so much? BOD have got this so so wrong. Zero credibility going forward.

GLT, the BOD are not fit for purpose, as they have continually demonstrated. How the hell can Rees and Hextall ever show their faces again after this? How have they managed to take this from 20p+ to 0.03p ? It couldn't have gone any more without any directors for heaven's sake!

Sorc, ''Question for the EGM: How can so much have changed in just six weeks''?
Yes, what has changed in such a short period?

Stas, it was tongue in cheek! notice the lol afterwards. Anyway, I don't expect them to run out of money in 6/9 months. One or two contract wins, more big cost savings, sell of Taiwan, investment from big player. What are you worried about..lol

who knows JAM. But I expect the rns to start shortly afterwards no doubt!

how much can we believe?
Post period end
Since the end of September 2022, the Group has won several new NIPT contracts which are now going through
their installation cycles, with further opportunities in the pipeline. The opening up of North American travel has
enabled a recommencement of face-to-face partner visits and closer collaboration with our Canadian colleagues
on their scale-up journey, both of which are expected to accelerate momentum for the next financial year.
Following the consolidation of the Company’s UK operations to a single site, the Board has identified a number of
operational efficiencies to help improve the Company’s margins. These include tighter controls around purchasing,
improving manufacturing process and enhancing logistical efficacy.
Outlook
Despite the strong performance of the underlying core business in H1 FY23 and the Company’s focus on building
sustainable recurring revenue streams, there continues to be timing uncertainty over the ramp-up for recent NIPT
and Genomic Services wins, as well as the conversion of recurring revenue pipeline opportunities. While the
Company may continue to benefit from one-off equipment sales which could compensate for these timing
implications, the Board believes that it would be prudent to revise revenue guidance for the current financial year
towards a range of £18m-£20m. This range would still represent approximately 20% year-on-year growth in core
revenues, a growth rate the Company expects to be able to maintain or exceed over the next two financial years.
Management remains keenly focussed on accelerating the implementation of recently won contracts, which
represents a significant lever in improving growth.
If this revenue range is achieved, and the Company is able to maintain H1 FY23 gross margins of 55%, then adjusted
EBITDA losses for the financial year would be in the range of £3.5m - £4.5m. As described above, the Company is
continuing to reduce its operating cost base with a view to recovering the recent margin erosion and returning to
positive EBITDA in the next financial year and achieving positive free cash flows by the financial year ending 31
March 2025.
For the remainder of the financial year the Company will continue its strategic focus on building its core business
pipelines for both Genomic Services and Genomic Technologies segments.

not sure whether to see this as a great opportunity or not. I mean what else can go wrong from here. The only way is up, baby! lol
This could well multi bag from here, well the directors are throwing some decent cash at it..Would they do that if they knew it was soon to go bump?