RE: Yet another good sign - the spread is now tight @ 10.50 am24 Jan 2023 18:35
Patch ,I assume you are replying to my post which appears to have disappeared.
The following is an extract directly from the latest available financial statements issued at the end of October 2022:-
"The Company Financial Information has been prepared on a going concern basis.
The Company’s assets are comprised almost entirely of cash. The Directors have outlined their new strategy
for the Company in the Chairman’s Statement. As part of their assessment of going concern, the Directors
have prepared cash forecasts to determine the cash requirements of the business as it continues to deliver
on its strategy.
In order for the Company to be successful in its strategy, it will need to raise additional funds in the
immediate term. The Directors are reasonably confident that such funds will be forthcoming as and when
they are required, however as successful future fundraising in support of this strategy cannot be assured,
a material uncertainty exists in this regard. The Directors have a reasonable expectation that the Company
shall be able to secure adequate resources to continue in operational existence for the foreseeable future.
Accordingly, the Directors believe that as at the date of this report it is appropriate to continue to adopt
the going concern basis in preparing the financial statements" ........
The cash and cash equivalents balance at the end of July 2022 stood at £13,242 !!