Review of options & salary costs1 Aug 2014 17:43
They must have a large payroll bill for these workers plus the BoD pay
Total raised in Feb 14 - E2m
In February, we raised a further €1.3M of capital which, together with sums raised in December 2013 bring the additional capital available to some €2M.
So cash bal o/s as at 30 June - E1,310,745.00 EUR = £1,039,292.26 GBP
have gone through E689,255 in just 4 months / E 172k per month
Pg 8 shows Consultancy costs of - E 1,575,387
More share options:
On 14 February 2014, the Company issued options to purchase a total of 4,000,000 New Ordinary Shares pursuant to a Share Option Plan, for the benefit of employees of the Group"
"As at 30 June 2013, there were 8,169,932 warrants in issue and options to subscribe for 8,620,000 outstanding" Total Options o/s 16.8m
From YE Dec 2013 accounts their salary costs were £730k for just 14 staff - see pg 10 - & the 4 Directors are taking a salary of £292k
hxxp://www.vipera.com/common/downloads/announcements/140530_VIP_AnnualReportAuditedFinancialStatements2013.pdf
"Thanks to the acquisition in December 2013 of Codd & Date Srl, our team has grown to more than 80 employees and contractors as we scale up our capacity to deliver our customer projects"
hxxp://www.vipera.com/common/downloads/announcements/140731_VIP_InterimsJune14.pdf