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@MIKODX,
You posted ''I fully understand why some feel the company could go private. In the Presentation Q&A, when asked if the company could go private, the CEO replied "no comment", and when asked again, he said he doesn't want to comment on it. That was very very telling.''
I think you would benefit from listening to the Presentation again ?!!
The question asked was '' has there been any discussions about taking the Company Private'' and the voice of the person asking the question turned to a laugh, and said ''he was not sure that James would be able to answer, but he would read it out anyway'', and James Cheek clearly smiled, and clearly looked surprised at such a question, and then said ''that's an interesting question, lets just say its not something I would want to comment on, followed by its not something I want to discuss''.
James Cheek was Not asked the question again, as you stated, and he did not just say ''No Comment'' as you have stated - Your recollection of the question and the way you say it was answered is very biased to the negative? - Where as the reality is completely different !!
Prof, I also listened to the presentation live.
The Disclaimer is the standard Disclaimer for these type of Presentations, and Genedrive have made reference to this same standard Disclaimer in the majority of their Presentations over the past few years, that I am aware of.
Just listened to the investor meet presentation again in order to specifically hear what James Cheek said about the two new sites coming on board !
At 31 minutes into the Presentation James said that we are still pushing for revenue from additional sites as they go live across the UK ''and we had two new sites actually coming on this week'' - So the two new sites actually came on last week ending the 5th April !!
Gino Miele
Gino MieleGino Miele
• 2nd• 2nd
CSO, Genedrive. Non-executive director, CytomosCSO, Genedrive. Non-executive director, Cytomos
1w • 1w •
Linkedin
''Absolutely thrilled with this – full recommendation from NICE in their draft guidance for our CYP2C19 test for as the preferred point of care platform of choice in the NHS for genotype guided therapy in ischaemic and transient ischaemic stroke indications. With both of our pharmacogenetic tests receiving recommendations from NICE for use in the UK NHS the future is bright – delighted for us to be part of this emerging paradigm of practical realisation of bedside precision medicine in emergency care. There’s sometimes (understandable) criticism of us with respect to time to market, but below the iceberg tip there’s a phenomenal amount of effort over many years that goes into realising medical devices such as these, especially in previously uncharted territories & developing new markets, even for companies 100X our size. Kudos to the GD team past and present for getting to this point today.''
'Full recommendation' in NICE draft guidance, and in the Presentation Q&A 1:02:20 - Gino stated that their expectation is that NICE will give the Full Recommendation, and they do not anticipate the 'Full Recommendation' will change, though this is a draft guidance at the moment. It is in Public Consultation, and the final recommendation is in early July.
I have always wondered whether the previous Consultation dates moved out in order to gain further information, and NICE to give this Full Recommendation ?!!
Hi Jimi,
You are right !!
The following is taken from the RNS 31 Mar 2023 18:32
RNS Number : 0323V
''The Directors have assessed a number of financing options for the Company including an equity raise but believe that the Facility is the best option available to the Company at the present time in order to further fund the Company's progress while also taking consideration of the investor shareholder base. Further, the Directors believe that a combination of the possibility of positive future news flow around the Company's two main assays as well as the potential for reasonable levels of liquidity in the Company's ordinary shares make the Facility the most attractive form of financing for the Company at the current time. ''
The TROLL 'GROUP' are out in Force - LOL
Hi stephen11,
My thoughts are that our Genedrive obviously felt it was important to confirm receipt of the Tax refund in the 1st Qtr of 2024, as expected !! – Hence the RNS.
I hope we hear ‘Good News’ around Special Commissioning; FDA Partnership; FDA Costs; The remaining £1,500,000 RF Funding; UK and other Country updates; etc ?!!
Yep Well done Jimi for exposing the Real Liar/s - I also confirm your wording.
There is a 'Group' of them posting on this BB, and they become even more 'Aggressive and Nasty', as Positive News Increases, and Posters Share their Findings LOL - Many Thanks to All Investors for your research and Postings !!!
Agreed Jimi,
My thoughts too!!
For every Drawdown equal to £300,000, RF have to pay Genedrive £168,000 on Exercise of their received Warrants (Exercise Date unknown).
So far we have Drawndown £1,500,000, with a further £1,500,000 available on agreement of terms.
Should we complete and receive the full total of £3,000,000 in drawdowns, then RF will pay us £1,680,000 on their Exercise of the Total warrants they own !!
As you say Jimi, 'it's very much in their interest to help and support Genedrive when needed''.
It should be noted that the GDR Board have not committed to a fund raise, via a Placing?!
The GDR Board have said they are :- ''planning for an equity or debt raise in early 2024''
We do Not currently have any Debt = Zero Debt,- So a Debt raise 'could possibly' be considered a better option IMVHO !!
Russ Shaw stated that we have £1mil in cash (as of 23rd November), and £300,000 due from RF (Our 3rd Drawdown on 29th November)
Then we had £200k due from DEVOTE Funding
Then we had £600,000 drawdown from RF on the 2nd January
So £1,000,000 + £300,000 drawdown + £600,000 drawdown + £200,000 DEVOTE Funding + £800,000 Tax Refund (due in Qtr 1 2024) = £2,900,000 + Sales revenue?
£2,900,000 at £400,000 per month running costs = 7.25 Months from 23rd November = finance until end of June 2024 !!
Then, should we drawdown the remaining £1,500,000 from RF, we would be looking at finance until approx. November 2024 !!
Then we have otherFunding avenues, under exploration!
And although JC did not expect us to receive the full remaining £1,000,000 funding from DEVOTE, he did expect to receive more funding from DEVOTE !!
Then we have Revenue from Sales up to November 2024 to consider. We have been told that we received our first orders from 6 Countries outside UK (see RNS 20th Dec).
That is correct stephen11 - £300,000 + £600,000 since the 23rd November !!
£300,000 on 29th November, and £600,000 on the 2nd January = £900,000 !!
Expecting a further drawdown from RF soon, and we know we can agree with RF to draw down > £300,000 in any drawdown !!
£800,000 of R&D Tax Refund due soon, if not received already !
£1,500,000 of RF drawdowns outstanding
Total £2,300,000 of income available !
Interestingly the last RF drawdown we received was £600,000, so we know the value of the income from drawdowns is negotiable !
Then we have the prospect of a partner joining in, and/or should e.g. a favourable loan be negotiated !
Last day of Arab Health 2024 today !
Hi Livinhope,
Just to clarify my last post - I posted to show that our SP was up (4.65%), at the time I posted, and that it was just a £55 sell that took our SP down into the red.
Volume now 1,842,986
Vol. Sold 358,104
Sold Value £27.98k
Vol. Bought 1,484,882
Market Summary >
Genedrive PLC
7.98 GBX
+0.35 (4.65%)today
Open
7.88
High
8.22
Low
7.38
8 Jan, 11:07 GMT • Disclaimer
A £55 sell took our SP down.
Date Time Trade Prc Volume Buy/Sell Bid Ask Value
08-Jan-24 10:52:49 7.50 740 Sell* 7.50 8.00 55.50 O
08-Jan-24 10:27:49 7.948 100,000 Buy* 7.50 8.00 7,948 O
08-Jan-24 10:21:35 7.948 12,531 Buy* 7.50 8.00 995.96 O
08-Jan-24 10:08:04 7.948 10,000 Buy* 7.50 8.00 794.80 O
08-Jan-24 10:01:42 7.95 33,661 Buy* 7.50 8.00 2,676 O
08-Jan-24 10:00:01 7.95 12,210 Buy* 7.50 8.00 970.70 O
08-Jan-24 09:59:46 7.95 25,107 Buy* 7.50 8.00 1,996
It should be noted that the GDR Board have not committed to a fund raise, via a Placing?!
The GDR Board have said they are :- ''planning for an equity or debt raise in early 2024''
We do Not currently have any Debt = Zero Debt,- so a Debt raise could be considered the Best Option IMVHO !!
Hi Nissan,
I believe we will have received a Total of £3,500,000 from the £5,000,000 RF Facility (including todays announcement of a further £600,000)!!
This leaves a possible further £1,500,000 could be drawn down !!
RNS Dates:
31 March 2023
£5 million Equity Prepayment Facility in place with initial draw down of £2 million
02 January 2024
today announces a further scheduled £600,000 draw down
29 November 2023
today announces a further scheduled £300,000 draw down
05 July 2023
today announces a further scheduled £300,000 draw down
02 June 2023
today announces a first £300,000 draw down