RE: TW28 Oct 2025 12:42
So Dermatonics was acquired in January 2024, the initial consideration is £1.68 million plus £1.25 million earn-out over three years, in a cash-free and debt-free acquisition. Has he had to pay any of the earn-out yet? Anybody know?
Bio-Tech Solutions was acquired in October 2024, the acquisition is being funded by a loan of £950,000 with an existing shareholder and a subscription for 2,349,624 new Ordinary Shares at 10.64p raising £250,000, as well as utilisation of Group cash reserves. In the IMC following the acquisition SA stated that Ian Moulds would be staying on for 6 months to help the integration etc etc. Has he moved on or is he still around? Anybody know? SA also stated a great opportunity to move production to 24/7 to improve efficiency etc. Anybody know whether that happened? I doubt it.
Everything Ashman says either doesn't happen or it happens too late. His lack of communication suggests the company is just floating along without any change as a result of the acquisitions. Let's face it he doesn't have the bandwidth to manage this company effectively, out of his depth and frankly completely useless. Hence why I will be voting him out.