The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
"Based on the near completion of the audit process, the Company now expects FY 2023 revenue of approximately US$318m-323m which is below the original outlook for the year (US$340m to US$360m). "
They've peaked out. It's as good as it gets now. The only ways to turn things around are cost-cuts, streamlining, better margins on new contracts which are index-links for inflation. A fund-raise will just raise money to be slowly pi**ed away over a year or two and result in severe dilution. Now, had Adolph visited this board and asked us, he would have avoided a disaster-bound investment.
They've had it too good for too long, The staff and the execs need to be paid correctly. It's no good paying them £10 a hour if their work only generates £5 of value to the company. it's idiotic to do so. The company has peaked and due to margins, can only demonstrate a profit if it cuts costs and drag. The company is not a non-for-profit organisation.
What do they do all in there all day? There are 365 days in a year, what do they do in there all year??? Rather than continue, they are better off handing back contracts with a note saying 'Thank you for understanding'. There is no point in a working a whole year to spin a loss, it's madness. No doubt, someone will roll up here to tell us that they actually made a profit.
GLA for tomorrow. If it's good and we open at 29-30p it'll be exhuberance on my part. Come 49p, it'll be victory brings salvation for the beleaguered holders here, like myself. If by some twist of fate we hit 100p, I'd have collapsed so you probably won't hear from me until I recover.
Cash burn.
But do they know that it's a leap-year??????