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Kong if you believe they are frauding the cashflow statement and making up the test numbers , then there isnt really anything I can respond to with that😊but It does happen.

Kong - its on the last page of the presentation also highlights the differences between Overval P/L and Cash burn

cut n paste below - note how the operational loss was less than the cash burn in H12023 - and the opposite this H1

H1 2023 H1 FY2023 H1 FY2024

Operating loss (5,993) (4,758) (10,168)

Movement in cash and term deposits (Excluding fundraise)

(4,063) (5,914) (9,892)

Defiately a percentage of cost added to staff / power and keep UK all running (US already baked in) but a reduction on the CAPEX spent in H1 now that the uk Lab is built / Completed just after H1 (there might be some numbers on that hidden somewhere) then we have PSE at £750 a pop coming in at a growing rate.

To suggest for Dec would suggest Cash burn goes instantly up to over a £1million a month, when in fact the cash used has dropped dropped the highs of H123 in both H2-23 and H1 24.. not saying it will come down , I dint see anything to suggest to will shoot up so dramatically myself.

NU its a good question - We cant really tell exactly - I have alot of experience in test labs - big cost like leasing are conbined in the account but were completed last finacial year, so aready in the numbers but will be ongoing. equipment etc may have been purchased, but most likely leased with calibration, maintenance contracts inplace, power and cooling and Accredation costs , plus the staff .. Lab tech isnt a very high paying job. say £50k-£55k.. cna only guess from what ive seen so far

Very sensible.

Personally im glad I added yesterday morning - I think that was a big overaction to just scan of the headlines. The cash needed "next few months call" isn't based on facts, its in contrast to the facts. at year end they had £1.19 million and in april raised £9.9 before fees - fees will be about £700k - So £10.4 million net in the bank at start of April - Give or take £100k thats not up for debate.

What is up for debate is how long that £10.4 million will last - using last 6 months figures the 15.7 months from april but thats a simplistic view.

If you look at the historic accounts, the reason the cash burn is reducing is bacuse of a key metic - Net cash used through operations H12023 was £5.222 million H1 2024 reduced to £3.42 milion - there are a few factors but there was alot of investment needed to get those labs built and accredited, develope PSE in very quick time etc - which is now done.

Stevie and Mr Mathis etc should have started to be in the H1 accounts, but I think there will be still more cost in legal etc as the deals get done -

Then we have the sales, looking much better for PSE and growing (but we did see that last year for cirt 😊and we now have cert getting into hospital groups in the US

My thoughts are that OBD is in a much stronger position than in September 2023 when it reached 50p - they have more cash , lower burn (still very high though) and some deals that we can actually see, they will defo need cash at some point early to mid 20303 IMO , but if by the time they need it, we have clearer visibility to B Even then that wont be a problem, if not it will be at 3p

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Ithought they cames out fighting yesterday day and Jon was careful and conservative, compared to that awful presentation last year.

Operational they have done so much in a short time frame, but killed thier reputation by stoking up the SP with words like unpresedented and exponetial - which made JB look very foolish at best

Yeah but accounts are accounts - there a big difference between overall loss and cash burn, thats basic stuff

Kong - With regard to tests being sold - there is more imfomation within the presentation, agree it you averge out over three months you are correct - but its the changes within march to june - an update on june todate is within the presentation, I think this is significant as , there have been some important events in May

Kong

Re Cash - The figure you are quoting is the operational loss which includes many vairables that are not cash loss to the business sunch as depreciation, option charges etc - The important figure the the net cash used over the period and the loss from conuiuning operations figure.. see below

Cash and fixed term deposits at 31 March 2024, which exclude the proceeds from the £9.9m (before fees) fundraising completed in April 2024, were £1.19m (31 March 2023: £3.62m, 30 September 2023: £5.25m), reflecting the overall reduction in cash for the period of £4.06m.

Presentation now on the website. since the deployment of the first Helath network at end of May - June Cirt is currently running @4.25 tests a day, about 100 a month again.

Apologies 34% lower than you state :)

Kong I get your view, but its you numbers that are not adding up. cash burn isnt £1million a month, its £4million for H1 (660k a month) which is still high, but 60% lower than you state

Asuming no growth they are sitting with about £9.% million as of start of June - Cant see how you come up with autum at that rate ?

I did add also - for similar reasons.. All looks to be progressing well on the operational front, I thought that was a good presentation, (just the tiny point of revenue to address!!) reimbursment appears to be seroiusly lagging, but they cant be accused of not having a plan/vision, and appear to be very busy with alot in the fire ..growth is back on the table whether it comes off or not is another matter. I certainly wouldn't sell out now - too much of a liquid transion stage over the next 6 months

Quite bullish presentation.. and they appear to have done alot of work progessed in every area,

Its a wait and see for me. They have at least put a stake down for what they hope to achieve short term, there is alot going on (too much TBH) but the onboading of 1 heathcare looks to have taken Cirt back up yo june last year levels and 3 more to be added is a good step forwards. PSE we are about 100 tests month, with alot kicked off very recently ..They September update will be key. 30 Concierge Groups etc Cash is there for some time and theres definately potential for news on many fronts. The answers to the PSa aspit test etc was very clear. I'm going to rewatch again when uploaded

There are some good bits in there, Things do seem to moving on with PSE.

PSE test 274 since the March Update (Feb Numbers) average of around 70 a month divided by the 4 months but clearly on an upward direction as 40 month in Jan so should be pushing around the 100 a month, and new deals have only just come online..

Cirt Flat - but the oborading of the healthCare group is very good news. NHS Cirt Trail is a bit of a carrot, but could be very benficial - nothing on BUPA is dissapointing.

Real cash use is about 2 million a qtr, but there is some traction growing - they will certainly need funding but not till March 25 earliest - What price will 100%depend on the tracition made between now and xmas - PSE is now becoming the focus of ST reveune growth

Morning - just going through the update, in terms of funding . This came in post year end, so after fees they had about £10.6 million as of start of April - cash burn is £4million a half ( not £6m) so assuming revenue do not grow they should be funded till June 2025

😘Could certainly do with some joy on this. We are in the exact oppsite position to 6 months ago - SP was flying at 36p on speculationand and hope. lots of interest - now its wrtten off @7.5p .. Dug was talking ultra positive bo##ocks and hes talking ultra negative Bo##olcs. We were low on cash, now better funded. Mkt cap was 3 times - even after the added diultion. Fotunately i managed to avoid a killing, but still down 40% - however have nealy 3 times as many shares now ave about 13.5p - 😒 I'm not convinced myself , but 6 months to march finacially is pretty much known. Ithink revenue may suprise a bit to the upside .. purely because of the lag in CIRT, PACT, and to a small extent PSE. After reading through all the goodbody,TLC stuff and having the two vertical leads, Im lookforwards to the presentation. I of the thinking that JB and PS got a big slap from Diggle and other major shareholders before that presentation.. Clearly hot happy as shown with the placing take up. So im expecting (hoping) that JB has kept quiet and in general -sales - cash - progress - to be in a much better position on a like for like basis than 6 months ago.. The team look good and when SP is down its easy to forget how much has been achieved - jurys out but far from over

IMO cashflow isnt the key thing here at the moment - lack of uptake / growth with a high cash burn is the issue - investor will happily fund growth stories with a plan that is delivered to, last results showed that plan had at best "stuttered". and we voted with our feet..looking at the net cash used They are fundend to March -April 2025 imo as Cirt reveunes and PSE to an extent are delayed and without any growth from here should ad $1.5 million on top of research, PACTand Tax credit

this finacail year, lab cost capex is now sunk, but we have additional senior staff . so hard to tell - but any uplift in revenue will make a big difference

True - TBF this was on made "avaiable" at the end of september, US code 5 months ago, and UK Lab 2 months ago - I think it imprtant to not get ahead , but i dont myself think those timeline are very long in this sector . They must have been talking to TLC for some time to be able reach that point so soon after UK Lab

But they do have too many irons in fires without enough fuel to keep em all going without growth so its an important year

I do like this page of TLC . Prostate Cancer Homepage. That should give some cause for optimism - Im insured for London Hospital under my work scheme and TLC is on there, I think almost anyone offered the PSE test would take it myself, Hvae no idea how many people they see at PSA level point , but they are a specilist centre with poineering surgery, Other things aside -I really like this agreement, cant see any negatives in that - and would have been a tough audience to sell too?

Advanced Prostate Cancer Tests

Whether it's early-stage prostate cancer or more aggressive forms, our expert consultants ensure rapid diagnosis and tailored treatment recommendations.

Doctor examining blood samples under a microscope for PSA and PSE blood tests, essential for prostate cancer diagnostics.

Blood Tests: PSA and PSE

The PSA (Prostate-Specific Antigen) blood test measures the level of PSA in your blood, which may indicate a problem with your prostate. Our innovative PSE (Prostate-Specific Epigenome) test compliments the PSA test by enhancing the accuracy in prostate cancer detection without the need for a biopsy. By analysing 3D genomic profiling, the PSE test reduces unnecessary procedures and provides a reliable method for assessing the likelihood of prostate cancer.

https://www.thelondonclinic.co.uk/prostate-cancer-london-clinic

😊 Fair enough, for the purposes of debate - Reasons to be Optimistic whilst retaining a healthy dose pessimism.

PSE First

Optomistic

PSE has only soft launched, Veritcal Lead only started in November with a target of achieving 1000 tests a month, insurance code from Jan.

2 revenue generating deals signed and active from May - both can be seen as promoted and integrated with our new partners

TLC world leader in prostate Cancer care, They treat Royalty and actively got PSE as part of thier RDC - This will get used by TLC.

GoodBody Heath - Google PSA Test and goodbody is now top or secondrow for PSE (Only once though google it again and drops down) they get 25-30k visits each month PSE on the top row on thier website of all tests,

Huge Margin

Pessimist

Theyve only sold a total of 180 test in the 5months to 9th Feb, wheres the unpresedented demand ? no values given to the deals - too expensive, no one will buy it, no deals in the USA.

Balanced View

Its too early to see how PSE will grow - recent deals are at least live and avaiable to see with potetially excellent partners, it would suggest that more will follow. Hype overode reality and now we are in the exact opposite position despite the positive news there is little belief (Thanks to Jon B's past enthusiasm) Trust has been eroded and we want to see the numbers - any signs of growth in orders from these first two deals will really boost confidence. They are reputable companies. no real reason to suspect they will not. but by how much ?