Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
I posted earlier that the Q&A does not make mention of the large OD that was mentioned by the CFO on the presentation . This OD is not in the accounts either. I assumed at the time it had been arranged between the accounts and the presentation. I don’t even know whether to trust what was said, believe it was an error or what. £6m difference is not a poultry amount Mr CFO - boom boom . I wish it was funny
Company does not get a cash injection that route Kate
All - please remember this Q&A is set in the tense of the date of the interims and the presentation. Clearly they just found out that the contract with the DHSC had expired. They headcount noted was in anticipation of that. Therefore likely 1/3 of that number, at least, will be gone before the end of this year. Don’t build false promise. The costs for these idle people were soaked up in high cost per unit items and leakage into GM. No glimers of light until approval. Then sales. If these happen in H1 maybe a chance. Personally I don’t think they have the cash reserves or horsepower to get there without a placing and II involvement. Just my view.
I think they are going to need it tbh. The ii’s smell blood in the water
Emus it just me that heard the OD in the presentation was £8m
Q64: Can you give a fuller update on cash flow and if current cash flow is sustainable (and for how long) without the need to ask investors for another cash call
We’ve provided information in the Interims Results and presentation on cash. At the end of September 2021 we had a net cash balance of £4.70m and an unutilised overdraft facility of £2.0m. Any consideration of cash levels will be shaped by performance in the second half, where we expect to see an improved sales performance across the Group for the full year and to see losses reduced in the second half. We will certainly be sensibly controlling costs.
Calderkate - I think that is very possible in the near term. Best of luck in recovering this situation.
Yes. Americans buy american. Chinese buy Chinese. British buy whoever gives the bigger bung.
Agreed. -he is inept as a ceo. The charisma and a brick
Can Colin see where the demand is coming from yet?
The government have 100% created the situation they are in. You reap what you sow but unfortunately it’s the ordinary residents that pay the cost of their incompetence
The government must be very pleased it has hacked off the entire national diagnostics industry at a time like this. Superb
This scenario may well be for part of the reason the shareholder press conference was so bad. Make clear the company sees no demand other than the government contract.
I’d hope our CEO is doing the same. We’ll done !
Best outcome for odx is get a test, manufacture the test, sell to UK government without all the deal making of the subcontract manufacturing, and return the £2m on that volume under a supply of lft contract. Alternatively similar clawback on production volume on third party supply to tests. I am sure we are using the Chinese tests until we get to a “managed” herd immunity.
What ever you may think as to “lot” what basis of value do you see here now? The venture to covid has left the company worse than it was before the pandemic. Unless the tides turn fast this is not good. Not good at all. The financials are poor and can only be changed with selling covid tests in volume. The only other option is that the board bury their heads in the sand focus on the core business and just let things bumble along forever more.
Stats is dead on the button. Colin has almost scuttled this company here. I thought 11p would have value - thinking 5p now. I still painfully have shares here but they have made such a mess.
I suppose they can argue until the court rules against them giving them time to generate cash if a test can be produced. This is not far away from a shed in a field now. Can’t believe the mistake I made here. Everyone talking about legal departments etc need to understand this is in the middle of nowhere. They wont even have a trained commercial lawyer in their staff.
Also - of note - the £2m is not in the p&l so any swing is based purely on cash movement for me. Overdone unless this is the placing