Member Info for DrMicho

The directors note that there is inherent uncertainty in any cash flow forecast, however this is further exacerbated given the nature of the company's trade and the industry in which it operates. Due to the risk that revenues and the related conversion of revenue to cash inflows may not be achieved as forecast over the going concern period, the Directors believe that there exists a material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern and it may be unable to realise its assets and discharge its liabilities in the normal course of business.

The year showed a significant downturn in revenue from the previous year at £2.9m (2022: £4.8m) due to a combination of factors. As mentioned, this is primarily due to weak market investment conditions for new drug discovery and development programs and the subsequent delays to a number of our contracts, both large and small, combined with the reduced drug development activity of some of our customers. Notably, a small number of valuable projects have been suspended by clients due to delayed investment into those businesses. We are advised by our clients that we should expect these projects to recommence once their funding is secured, although the continued uncertainty of timescales to win and close out contracts and to recognise the revenues remains a challenge.

REMEMBER....most recently they have told us via RNS that they are paying Directors with shares, incorporated extreme cost cutting and have taken on a new CFO part time to help out....Taking all that into consideration it looks like money has run out... The new CFO is going to fundraise as there is a lack of funds.......

The company is not even making a profit so funds will be needed, read the RNSs before you get pumped in by EOA...

Fusion Antibodies PLC - Belfast-based contract research organisation providing discovery, design and optimisation services for therapeutic antibodies to the healthcare market - Raises GBP1.6 million through a placing and director subscription of 31.2 million shares at 5 pence per share, which is an 84% discount to the stock's close on Thursday of 32.06p. The placing is run by broker Allenby Capital Ltd. Fusion also launches a separate retail offer via the REX platform of up to 10.0 million shares at the same price, to raise up to an additional GBP500,000.

"We are pleased to say that we have been able to raise funds in an extremely challenging market, and this, combined with the cost saving measures that we will be implementing, will provide us with the necessary capital we need to progress the business," says Chief Executive Officer Adrian Kinkaid.

Current-stock price: 19.90 pence, down 37% in London on Friday

12-month change: down 65%

Well here is a little truth from company releases instead of some random amateur blogger pumping lies...

Most recently they have told us via RNS that they are paying Directors with shares, incorporated extreme cost cutting and have taken on a new CFO part time to help out....Taking all that into consideration it looks like money has run out... The new CFO is going to fundraise as there is a lack of funds.......

Last fundraiser was back in May at a whooping 84% discount... So no placing in the near future is complete lies...DYOR ...thats why the SP is at an all time low...

Always a pump- before the placing lands....

As a result of the HYR there is most probably a placing to raise further funding.

The Company has a history of incurring significant losses and as at June 30, 2023, had an accumulated deficit of $259,822 (December 31, 2022 - $251,922). As at June 30, 2023, the Company had a cash and cash equivalents balance of $4,439 (December 31, 2022 - $13,125) and a positive working capital balance of $3,557 (December 31, 2022 - $11,222). In the six months ended June 30, 2023, cash used in operating activities totaled $8,174 (June 30, 2022 - $8,394).

The Company's ability to continue as a going concern is dependent on its ability to develop profitable operations and/or to continue to obtain the necessary financing to meet its corporate expenditures and discharge its liabilities in the normal course of business. The Company will need to raise funds through public or private equity and/or debt financings. Although the Company has been successful in raising finance in the past there can be no assurance that it will be successful in the future. If the Company is unable to generate positive cash flows or obtain adequate financing, the Company may need to curtail operations. These factors give rise to material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. The consolidated financial statements do not give effect to adjustments to carrying values and to the classification of assets and liabilities that would be required if the Company were unable to continue as a going concern and such adjustments could be material.

No it won’t… volume and interest disappeared so it’s dropping hard..always take profit when you can, GL 😀

Sub 1 as expected, what do you think petro....

IMHO

My apologies Mickey...More selling, this is great news and the SP will go to the moon...

More selling, not good at all....

Well done in here today, I hope it motors for you all next week...

Unfortunately, RNSs say there will be a need for a fundraise and most probably not too far away...

If they are going to fundraise I would expect it would be at a heavy discount...they have said they might struggle to get funding in the HYR...

But a fundraiser will be required first...

The Company has a history of incurring significant losses and as at June 30, 2023, had an accumulated deficit of $259,822 (December 31, 2022 - $251,922). As at June 30, 2023, the Company had a cash and cash equivalents balance of $4,439 (December 31, 2022 - $13,125) and a positive working capital balance of $3,557 (December 31, 2022 - $11,222). In the six months ended June 30, 2023, cash used in operating activities totaled $8,174 (June 30, 2022 - $8,394).

The Company's ability to continue as a going concern is dependent on its ability to develop profitable operations and/or to continue to obtain the necessary financing to meet its corporate expenditures and discharge its liabilities in the normal course of business. The Company will need to raise funds through public or private equity and/or debt financings. Although the Company has been successful in raising finance in the past there can be no assurance that it will be successful in the future. If the Company is unable to generate positive cash flows or obtain adequate financing, the Company may need to curtail operations. These factors give rise to material uncertainty that may cast significant doubt on the Company's ability to continue as a going concern. The consolidated financial statements do not give effect to adjustments to carrying values and to the classification of assets and liabilities that would be required if the Company were unable to continue as a going concern and such adjustments could be material.

I agree Davey...