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Then £5,100,000 + £2,400,000 = £7,500,000’’ –
Today it was stated that we will receive our 3rd £300K Drawdown from RF - As I have posted before – I believe the Company will go for the Full 10 x £300k Drawdowns in Total ?!!
‘’If we conservatively add in a further £1,000,000 Tax Development Refund for the period Jan 2023 to end of June 2024.
Then our Total cash increases from £7,500,000 to £8,500,000’’
From today’s information I am unsure as to whether we will receive as much as £1mil Tax Refund for the period ending June 2024? – Because it was said that the amount of Tax Refund has been reduced since April 2023 – I believe that this what was said.
‘’Then we have Funding from DEVOTE – ‘’to further the ‘validation’ and ‘implementation’ of the new Genedrive® CYP2C19 ID Kit pharmacogenetic test in a time critical clinical setting’’.– saving us our current CYP2C19 Development spend of £125,000 per month – and reducing our cash runaway from £400k to £275k per month .
£8,500,000 divided by £275,000 = 31 Months, which takes us from 14th March 2023 to Mid - October 2025.’’
The above is a major Blow to my calculations, as Not only did I believe we would receive £1.2mil from in-direct DEVOTE Funding, I also thought we would we would receive further in-direct Funding through DEVOTE.
‘’Then it depends upon Sales Revenue from the UK and Europe; also further Funding from DEVOTE, and’’ Any Other Funding we receive over this time period ?!!
I am will re-calculate what I believe this means to Our Financial Situation?
Any Other Funding we receive over this time period.
All going well - Finances Look OK to me !!!
James Cheek came over Very well in the Presentation, and Certainly gave a Positive view on Future sells !!
It was Very concerning that James Cheek stated today until he arrived – Countries had not received details of Our Products in their own language – Wow – How did this not happen? – However, They do now
FDA Pre Sub discussions still Very Much alive, and hopefully we will receive Financial help from the United States for the submission of Our AIHL Test ?!! It was Good to hear we still have partners in the USA helping us with keeping costs down !!
Finances:-
My calculations v's todays Numbers:- My Previous Posted comments below are highlighted in quotation marks ‘’ – ‘’, and Todays updates follow underneath with No quotation marks.
I submitted several questions before the Presentation today, and several questions during the Presentation - The most dis-appointing response was to my question about the DEVOTE Funding:-
I asked today:
It has been said we will receive £0.2mil through the DEVOTE Funding process. Will we receive the full £1.2mil over the course of the next Year ?
James reply today was that he does not believe we will receive the whole £1.2mil - He did not say how much of the £1.2mil we would receive?
‘’Maths for GDR Financial Position, As I see it:-‘’
‘’As of 14th March 2023 we had £2 mil in cash + £2 Mil from RF in April + No less than £500k R&D Tax refund due end of this year = £4,500,000’’ –
Today it was stated that we will receive £800K, in R&D Tax Refund, to be paid in the first qtr of 2024 which is £300k higher than in my numbers) !! all be it to be paid later that I originally thought.
‘’Since April we have also received a further £600,000 from RF (And a further £336,000 due from RF on exercise of their first two drawdowns of Warrants – Date unknown?)’’ –
Today it was stated that we will soon receive a further £300k from RF(coming in December?) this is £300k higher than in my numbers !! (which will mean a £168,000 due from RF on exercise of their 3rd two drawdown of Warrants – Date unknown?)’’ –
‘’So £4,500,000 + £600,000 (Drawdown money from RF) = £5,100,000 - This alone takes us to September 2024 at Monthly Expenditure of £275,000 - see DEVOTE Funding adjustment below:’’
In my numbers above I worked on us receiving £1.2mill in, in-direct DEVOTE Funding during the course of 12 months, and hopefully further in-direct funding from DEVOTE - Unfortunately it was stated today (in answer to my submitted question) that James Cheek does Not believe we will receive the Full £1.2mil – But we are due to receive £0.2mil soon – He did not say how much more of the £1.2mil we would receive? – I will therefore change my calculations accordingly, using £0.2mil from DEVOTE, until we hear differently?
‘’Should we receive a further £2,400,000 Drawdown money (8 x £300,000) from RF -
Then £5,100,000 + £2,400,000 = £
LOL - Good Morning carlose666,
You never learn do You !!
Had a Bad Nights sleep Did You LOL - You Certainly seem to have started today with a spot of Amnesia, and Further Lies !!! LOL
Well I have a couple of Hours before the Tide turns onto the rise, so I may as well have some Fun showing You as the Biggest Proven Liar on our BB - You have in one day managed to over take that Tag Pull Proven Liar Guy_incognito the False, and that takes some doing, for sure !!!
So now where were we - Oh Yes you had a Bad Nights sleep, worrying about how Stupid You proved Yourself to be Yesterday - No Doubt !!! LOL
You did make me Laugh when You admitted to being part of the ''we'' in the GDR TROLL Team - What a Clown You are !!!
And now You start this morning with one of the same Lie's as as You lied about yesterday !!!
Do You find research a Bit difficult , and a Strain on You? - I take it You found it too over whelming to check my posting history where back in September I clearly stated ''should we receive the sum of £2.1 mil from the DEVOTE Funding'', - I have posted it again today for Your benefit - What a Sad excuse for a person You have Proved Yourself to be:-
I stated the following, back in September:-
''Many DEVOTE Funding numbers have been posted on Our BB - ranging from - Zero to Greater than £4mil - I have said ''Should we receive £2.1mil'' = (the average of the sums touted).''
I hope You get Your memory back soon !!! LOL
REALLY - Funny how You did not post any Credible evidence then - All You could come up with was Lies; Lies and More Lies, which when I proved to be Lies - You just moved to another tact of Lies - None of Your Team of TROLLS have managed to come up with Any Evidence of me Lying either - which says a lot considering how many of You there is Posting on Our GDR Board currently - LOL
Actually - I will probably not catch anything as BIG as the 'Whoppers You have told today !!
The main thing You have not grasped is that Liars like You are easy to call out - because they are Lies, and therefore easy for me to find the evidence of Your Lies in Your Posts, and call You out.
On the other hand I do not Post Lies, and therefore I know You cannot support Your Lies about me, which has proved evident again today - QED !!!!
@carlose666,
It is hard to believe you are as Thick as You have proved your self to be Today, in particular - LOL.
Oh Dear Your Stupidity is beyond belief LOL HaHaHaHa - so funny - I must point this out to You - That is another trait of the GDR TROLL Team, they tend Not to be Very Bright - Like the light is on, But nobody is at home LOL
LOL - I am almost wetting myself with Laughter, and You did not even notice Your Blunder LOL
OK - Calm LOL - I posted at 17:13 today, about an hour ago, that I have:-
''Never seen these TROLLS post their Calculations - Just meaningless words with No evidence behind their claims'' LOL
hahahahaha - I can hardly contain my Laughter.
You then replied at 17:20 with:-
'''Thats the thing Bigliar67, ''we'' don't post made up numbers with nothing to back them up, ''we'' let the company isdue the numbers.'' - (we being the GDR TROLL TEAM)
Oh My Oh My, ''we'' - You dropped Your guard and said ''we'' don't post made up numbers, and ''we'' let the company issue the numbers LOL - You have made my Day - talk about shooting Yourself in the Foot - QED
OK I Cannot spend any more time ''Playing with You'' - I have to get my Fishing kit ready for tomorrow.
Great day though seeing You jump from one Lie to another Lie, rinse and repeat !!! LOL
Still posting Your Lies carlose666,
I have never stated or Guaranteed that our SP will go to £5 plus - This a Proven Lie that You and that Guy_Incognito the False post.
A couple of Years ago when we signed up with the Massive USA Company Beckman Coulter to distribute our COVID Tests, I was asked to post some potential calculations on the Mcap value we could reach with Beckman Coulter distributing, and analysing our Tests. I posted a series of potential SP valuations ranging from just over a £1 to £5.77 - These Liars, that Guy_ incognito often Posts that I guaranteed a SP of £5.77 (Proven Liar), and as you see today carlose666 saying I said our SP would go to £5 - These Guys are Nasty Liars - Never trust Proven Liars - Once a Liar, Always a Liar - QED
Note:- This is another example of carlose666, changing direction of his attacks, on me, after being proved to be a Liar - QED.
Also note:- how the GDR TROLL Team gang together, and attack Posters Like myself who dare to Post anything positive about Our GDR.
Never seen these TROLLS post their Calculations - Just meaningless words with No evidence behind their claims LOL
I am Sea Fishing tomorrow, and looking forward to a 'NICE' Day LOL !!!
@Allquessing - and that is ALL You Do,
If there is anyone hew Looking in, then I suggest they click on Your Posting name, and check out Your Posting History - They will soon realise the sort of Character You are - A GDR TROLL !!!
Also click on that Franky fellow, and that carlose666 fella, and several other Blatant Proven Liars such as that Guy_Incognito - They all come over as part of a GDR TROLL Team - They do not respond well to being caught out, and Get Very Nasty LOL
@carlose666,
No Lie from me - You are the Liar, and You will try and Lie your self out of the Lies You Post - jumping from one thing and then to another in an effort to hide Your Outright Lies .
I am sure You would not be as Stupid to Post Your Lies without reading all Posts first ??
So Your comment:- ''When you said we would get 2.1mil of funding was that not a lie, as we only got 1.2mil but you ignore the lie you told.''
So go back through my Posts, and remind Yourself to where I posted the following statement, with reference to DEVOTE Funding:-
I stated the following, back in September:-
''Many DEVOTE Funding numbers have been posted on Our BB - ranging from - Zero to Greater than £4mil - I have said ''Should we receive £2.1mil'' = (the average of the sums touted).''
You are the LIAR - QED LOL
@Allguessing,
Another member of the GDR TROLL Team,
I post Facts and reasoned calculations, unlike You and the rest of the TROLL Team - Just posting ''meaningless words'', with No Facts or Reason to substantiate them.
I do enjoy calling You Guys out LOL
@FrankyS1971,
You are another one of the Team of GDR TROLLS, that turns up Now and again - Talking Nonsense - You are the ''Absolute Fool''
Before You Jump in with Two wrong feet, read and understand my Posts:-
I never said the funding is a lump sum - I have said the DEVOTE Funding will go to Manchester Uni for handing out !!
I quoted the Devote Funding RNS:-
Now read the DEVOTE Funding RNS you Idiot - It states:- ‘’it will support the evaluation, validation and implementation of the new Genedrive® CYP2C19 ID Kit. ‘’, and ‘’The grant funding allows us to avoid costs that would otherwise have been incurred by genedrive directly’’ – as stated in the RNS !! - Fact
You TROLLS do know how to make yourselves Look Stupid - That is the Fact about Liars, they always get caught out - LOL
@carlose666,
LOL - What a Buffoon You are:-
Your Post at 08:09 this morning in reaction to my Post to stephen11 last night said:-
''Those made up numbers just add to the misinformation and are misleading.
The 2mil in March will now be gone due to the monthly spend so please don't deceive people by posting top end numbers that GDR don't have.''
Now that I have made You look an ''Absolute Fool'', You change direction, and say those Top end Numbers I stated are Fact - Make your mind up ''You Fool.''
You stated that those Fact numbers were made up Numbers at 08:09 this morning, and now that I point out they are Facts, You change Your direction of Attack - What an incompetent Clown You are.
Well at least You finally recognise You were Stupid and Wrong - actually they were ''deliberate straight forward Lies'' by You, and nothing less - QED
You also said that the £2mil we had in the Bank is mis-leading, because it has been spent - I clearly posted money coming in and money going out, and how long that keeps us in Finance for - You are so full of Attack and Nasty that You deliberately mis-quote my Posts, just because I have caught You out and sent You Packing with Your Tail between Your legs so many Times - QED
@carlose,
What a load of Waffle.
LOL – You just posted - ‘can you provide ''one example'' of where your numbers actually came true ‘’or where correct.’’
Well how about a Load of Examples... LOL - What a Fool You are !!!
My post is Full of Facts – Just that You are so full of incompetence, that You cannot see what is in front of You !!! LOL
£2,000,000 in the Bank as of 14th March 2023 – Fact
£2,000,000 payment received from RF – Fact
2 x £300,000 payment received from RF – Fact
c.£500,000 R&D Tax refund due by end of this year – Fact
c.£1,200,000 award for the benefit of ’ ‘’it will support the evaluation, validation and implementation of the new Genedrive® CYP2C19 ID Kit. ‘’, and ‘’The grant funding allows us to avoid costs that would otherwise have been incurred by genedrive directly’’ – as stated in the RNS !! - Fact
I see you like to attack other posters who have read and understand my post - clearly your incompetence is a Barrier for You !!! LOL
Any other Stupid comments from You - or will these Facts be sufficient to send You on Your way with Your Tail between Your Legs Again and Again and Again - It should be, because You do Make Yourself Look Very Stupid with Your every Post - QED LOL
@carlose,
Ha Ha Ha Ha Ha LOL carlose – I am in tears from Laughing at You, so much !!
I have told You before – You Must read Posts several times, again and again and again, until ‘You’ fully understand – Hmmm
You really Must read what is being said rather than what You want it to say !!!! – Not he first time You have done this !!! LOL
This is more importantly so when Your intent is to go into writing, accusing Posters of deception – Not Nice of You !!!
Look, You have already upset Slacker, who has reacted to Your post, and has been encouraged to waste his time posting meaningless sh*te - no explanation behind his inspired post !!! LOL
My post clearly states the accounts start from 14th March, and clearly includes the companies outgoing costs from the 14th March 2023 onwards !!!
Try Again Chap !
Hi System,
I have had the same thought about the NICE delays - after all NICE have said that they delayed so that they can get further information together in order to answer all the questions arising from the Committee Meeting - As I recall !!
Hi stephen11,
Agreed - There is a lot of misinformation on this board at present with regard to GDRs cash position/runway.
It should be noted that this misinformation is coming mainly from Trolls that 'Do Not' support their comments with any calculations to support their postings, and therefore they are simply 'Meaningless'
Please see below the Numbers I posted on the 30th August 2023:-
Note:- Since this Post, we know that Our GDR will benefit from Devote Funding of c.£1,200,000
Also we have not received any further £300,000 Funding from RF - It would be a pleasure to hear that we do not need any further RF drawdowns due to Funding from other sources ?!! - certainly a question to submit for our BOD next week ?!!
bigAl67
Posted in: GDR
Posts: 2,560
Price: 11.75
No Opinion
RE: Equity prepayment drawdown facility 30 Aug 2023 11:20
Maths for GDR Financial Position, As I see it:-
As of 14th March 2023 we had £2 mil in cash + £2 Mil from RF in April + No less than £500k R&D Tax refund due end of this year.=. £4,500,000
Since April we have also received a further £600,000 from RF (And a further £336,000 due from RF on exercise of their first two drawdowns of Warrants – Date unknown?)
So £4,500,000 + £600,000 (Drawdown money from RF) = £5,100,000 - This alone takes us to September 2024 at Monthly Expenditure of £275,000 - see DEVOTE Funding adjustment below:
Should we receive a further £2,400,000 Drawdown money (8 x £300,000) from RF -
Then £5,100,000 + £2,400,000 = £7,500,000
If we conservatively add in a further £1,000,000 Tax Development Refund for the period Jan 2023 to end of June 2024.
Then our Total cash increases from £7,500,000 to £8,500,000
Then we have Funding from DEVOTE – ‘’to further the ‘validation’ and ‘implementation’ of the new Genedrive® CYP2C19 ID Kit pharmacogenetic test in a time critical clinical setting’’.– saving us our current CYP2C19 Development spend of £125,000 per month – and reducing our cash runaway from £400k to £275k per month !!.
£8,500,000 divided by £275,000 = 31 Months, which takes us from 14th March 2023 to Mid - October 2025.
Then it depends upon Sales Revenue from the UK and Europe; also further Funding from DEVOTE, and
Any Other Funding we receive over this time period.
All going well - Finances Look OK to me !!!