Member Info for Eureka01

"The fact they won’t break even until June 2026 at the earliest (their words not mine) and we don’t have 2 years cash". What Guy conveniently overlooks is that cash will be, and in fact already is, coming in from sales. The hope obviously is that enough cash will come in to keep things going before the £6 million runs out and until break even is achieved.

My post from 10 days ago: " If we get the full recommendation in July as expected, 1.5p is going to look as cheap as chips IMO". I stand by that. No idea what the price will actually be if good news, as expected, arrives on the 10th but I'm pretty sure 1.5p will be a distant memory.🙂

I suspect the 2 trades earlier on, for 1.5 million and 1.8 million at 1.8p have something to do with the MMs shortage of stock.🙂

Looks like you're getting even better prices, PadRock.🙂

They're offering 1.75p...the ask price... to buy your shares in sizeable quantities. Clearly the MMs are short of stock!

"they clearly are in the know". I doubt it very much or if they were they would be acting illegally on inside information. As has previously been made clear, Peel Hunt are holding their shares through their investment bank arm, completely separate from their nomad division and there are supposed to be chinese walls between the two. Besides which PH have actually reduced their initial holding by 3.3 million in spite of todays increase.

In one month's time, on the 10th July, NICE is due to publish the final submission for the CYP2C19 test. The CEO was very bullish in the Investor Meet Company presentation in April:

"This is really the most exciting thing for us. Can't see any reason AT ALL that anything will change between the draft submission that's out there now and the final submission that'll come out in July...There are massive UK national programmes around stroke which we can tap into and this is incredibly exciting....We have had interest from a number of parties outside the UK and will be pushing for sales on a research only basis outside the UK...Things are looking exceptionally good for us here...We won't have the CE-IVD mark until the end of the year, beginning of the next but because of the collaboration with Manchester around the DEVOTE programme, they're doing an awful lot of the assessment work which we're not having to pay for."

There are 12 million strokes per year globally and 100.000 per year in the UK alone and stroke incidence in the UK is predicted to increase by 60% between 2105 and 2035. so the potential market is massive. If we get the full recommendation in July as expected, 1.5p is going to look as cheap as chips IMO. If we don't it will be a huge dent in the credibility of James Cheek.

Slacker246: "Will this company ever turn svprofit???"

"The Board's internal assumptions of revenue growth forecast the Company transitioning to a positive EBITDA position in the second half the financial year ending 30 June 2026." Chairman, 09/05/24

You either trust the company's future prospects or you don't. If you don't you shouldn't be here.

Even though dealing in the new shares started yesterday, I have not yet received my allocation. No date given. I was simply told I would be receiving them "in due course". So it does look like, as others have speculated, that the new shares are being drip fed to shareholders, no doubt in order to avoid a disorderly market.

Some previous predictions of Tiger 16:

"This will not go under 5,50 p 100 percent". 17/4/24

"I am expecting a bumper of a RNS to set this on fire . launch right into the sky." 23/4/24 It never happened.

"I said before this will never be below 5p to buy again." 24/4/24

"I almost guarantee you we will rise above 6p tomorrow , if we don't than I will never post on here again ... There will be a leak and then bang." 25/4/24 (Closed 5% lower at 5,4p)

So judging by his previous pronouncements I would take the "luncheon with a very senior banker" and the accompanying prediction of short term 5p with a very big pinch of salt. RNS tomorrow re big US partner? I won't be holding my breath.

So much for the doom mongers with earlier comments such as: "No need to take up the placing offer as this is now going to be cheaper than 1.5p" "its definitely going below 1.5p and probley closer to 1p than 1.5p".

A few apologies required?

MIKODX, Not quite clear about your logic.

The company has stated that if the £6 million fund raise does not succeed then the Company would urgently need to seek further financing which may or may not be available at all or, if available, may be on commercially unacceptable terms and could lead to more substantial dilution for Shareholders than would be the case under the proposed Fundraising.

Yet you state, "... financially the company is crippled, and will only get worse if the proposed placing goes ahead." 18/05/24

You clearly believe in the company and it's products:

"...the company has huge potential and sales have increased substantially lately." 17/04/24

"Share is massively undervalued, great buy-in price at these levels." 24/02/24 (sp c 4.5p)

" Any positive news on FDA or the stroke test will see this fly. We hope it comes soon. If not, just sit on your hands and wait, this is a long hold so patience is needed." 28/12/23

So given the assumption that the board will have looked carefully at a range of possibilities for raising funds, that it states that failure of the fund raise could lead to even greater dilution, that it believes the company will be transitioning to a positive EBITDA position in the second half the financial year ending 30 June 2026 based on its based on its internal assumptions of revenue growth and that you believe in the company's products and future, where is the logic of not supporting the fund raise?

So, MIKODX, if the solution was so easy...simply get some institutions on board... just tell us why they had to turn to the death spiral financing with Riverfort last time and are going for placings and open offers this time. Do you really think they didn't try to get institutional financing before going with the offers this time round? They're not complete idiots!

Hmm, MIKODX is in full deramping mode. I'm always wary of someone who has to shout their name. The fact is there are many companies out there running at a loss. One has to look at their products and the potential they have and GDR has a couple of gems IMO. Nor is a steady income stream just a pipe dream. According to the company: "The Board's internal assumptions of revenue growth forecast the Company transitioning to a positive EBITDA position in the second half the financial year ending 30 June 2026."

Yes, You can apply for as many shares as you want...provided you have the funds! If you are with HL you can also apply for the REX offer.

There are some on here who can only see the downside of GDR. I am seeing statements like "Genedrive spend spend spend spend NO INCOME", "Shareholders should and must vote a firm No", "There is a reason why this 💩 is as good as worthless".

Yet there are many reasons to be positive.

Possible News Flow

AIHL: Additional go live sites in the UK

NHS specialist commissioning which is expected in April 2025

Change in NICE guidance from conditional to full.

Commercial progress in nine other countries across Europe and the Middle East where contracted distributors are in place and are currently in the in-county pilot phase.

Eventual regulatory approval in the USA via the FDA De novo submission process.

Stroke Test: NICE's final recommendation for the CYP2C19 test is expected on 10 July 2024.

Completion of the DEVOTE clinical study.

CE-IVD submission in H2 2024 with certification anticipated in early 2025.

Commercialization in the UK.

Commercialization within the EU.

Eventual FDA registration process for CYP2C19 to permit future sales in the USA

Sources of Revenue

The company is already making income: Revenues and other income in the six months to 31 December 2023 were £0.24 million.

The Board's internal assumptions of revenue growth forecast the Company transitioning to a positive EBITDA position in the second half the financial year ending 30 June 2026.

AIHL: The Company estimates that the total addressable UK market is up to £8.5 million per annum which is based on approximately 100,000 NICU admissions per annum and an estimated customer price per test of more than £80. The EU market is potentially another c.£46.75 million per annum, the U.S. market is c.£34 million and rest of World markets around £13.75 million.

The Group expects to drive revenues for the MT RNR1 test from additional go-live sites in the UK and abroad.

Stroke Test Kit: UK market is up to £8.5 million per annum, based on the assumption that there are over 100,000 strokes per annum and an estimated customer price per test of approximately £100. The EU market is estimated to be c.£93.5 million, the U.S. market is c.£67.6 million and rest of the world markets approximately £51 million. The company will start sales and marketing activity in the UK for the CYP2C19 test will start as well as pursuing research use only sales outside of the UK.

Yes, there are the risks: Uncertainty of regulatory approvals, failure of regulatory trials and so on. But the biggest risk IMO would be the failure to achieve the £6 million fund raise. For me the outlook for the company is, on balance, positive and I shall ignore the doom mongers and will be supporting the fund raise.

Tiger, Price down in spite of heavy buys probably for the reason I gave. Why are people buying now? Clearly they don't think they will get enough allocation from the open offer or REX offer and are therefore buying in in anticipation of good news ahead. If GDR manages to pull off this £6 million fund raise then things are looking much brighter IMO.

Buys are massively outweighing sells (1.9 million v 0.6 million) even allowing for trades that could be either. Yet the sp is still down. Why? Today is the first day that firm placing shares can be traded and I imagine there are one or two who've given forward instructions to sell their 1.5p,shares at a handsome profit.

Your guess is correct, Wdasse. I spoke to Halifax this morning. They have the offer document but now they're telling me they'll be sending it out tomorrow or Friday having previously told me by today and advised me to call again when received.

This is the full revised timetable published today:

Announcement of the Fundraising 4.48 p.m. on 9 May 2024

Announcement of the results of the Placing 7.00 a.m. on 10 May 2024

Record Date for entitlement under the Open Offer 6.00 p.m. on 13 May 2024

Publication of the Circular 14 May 2024

Ex-entitlement date of the Open Offer 8.00 a.m. on 14 May 2024

Entitlements and Excess CREST Open Offer Entitlements credited to stock accounts of Qualifying CREST Shareholders As soon as possible after 8.00 a.m. on 15 May 2024

Admission and commencement of dealings in the Firm Placing Shares 8.00 a.m. on 15 May 2024

Recommended latest time for requesting withdrawal of Open Offer Entitlements from CREST 4.30 p.m. on 22 May 2024

Latest time and date for depositing Open Offer Entitlements into CREST 3.00 p.m. on 23 May 2024

Latest time and date for splitting Application Forms (to satisfy bona fide market claims only) 3.00 p.m. on 24 May 2024

Latest time and date of receipt of proxy votes to be valid at the General Meeting 11.00 a.m. on 29 May 2024

Latest time and date for receipt of completed Application Forms and payment in full under the Open Offer and settlement of relevant CREST instructions (as appropriate) 11.00 a.m. on 29 May 2024

Publication of the results of the Open Offer 30 May 2024

General Meeting 11.00 a.m. on 31 May 2024

Publication of result of the General Meeting 31 May 2024

Admission and commencement of dealings in the Conditional Placing Shares and such number of REX Offer Shares and Open Offer Shares applied for 8.00 a.m. on 3 June 2024

CREST accounts to be credited with New Ordinary Shares as soon as possible on 3 June 2024

Dispatch of definitive share certificates for New Ordinary Shares in certificated form Within 10 Business Days of Second Admission