Todays results & my take21 Feb 2019 12:24
Note 2 Basis of Preparation - see extract below:
'The financial information contained in the interim report does not constitute statutory accounts as defined in Section 435 of the Companies Act 2006. The financial information for the full preceding year is based on the statutory accounts for the year ended 30 June 2018. Those accounts, upon which the auditors, Shipleys LLP, issued a report which was unqualified but contained an emphasis of matter paragraph, have been delivered to the Registrar of Companies.'
The cash flow statement showed a small imbalance of only £20k but in the above paragraph it says that in the Audit Report it contains 'an emphasis of matter paragraph' which is normally put in if there is not a 12 month cash run way from the date of the signing of the accounts.In these cases it means further share dilution through a placing or other income is required.This for me is the only reason why I can see the SP reduction.
In addition under - Business strategy is the following:
'In parallel with our core commercial activities we are close to completing our most recent Innovate UK grant funded project focused on the personalised treatment of prostate cancer. This feasibility project involves the use of artificial intelligence techniques (such as neural networks and other machine learning techniques) to develop an online tool that could, if approved, be used in hospitals and clinics to support personalised dosing of the commonly used chemotherapy drug docetaxel and improve outcomes for prostate cancer patients. Physiomics is in discussions with a number of organisations about how it might validate and seek regulatory approval for this tool, with a view to either partnering the technology or developing it further in-house.'
I find the above very interesting & could generate a new income stream - all therefore to play with hence I am showing ' Strong Buy'.
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