Trying to starve them of cash?
Furthermore, as shareholders will be aware, in line with the Convertible Loan Note ('CLN') a payment of �125,000 was due from Innovation on or about 23 November 2017. Despite requests from the Company, no payment has of yet been received. Accordingly, the Board is now actively pursuing alternative sources of finance and the Company is pleased to confirm that it has received an independent approach from a credible funding party keen to support future growth initiatives. The Company's broker, Peterhouse Corporate Finance Limited ('Peterhouse'), has also received positive investment interest.
RE: director buys from 0.68 to 0.1224 Nov 2017 13:35
You may get a little bounce from some news but without a working boiler to sell they are going to struggle to raise more money unless they can convince backers that they really do have a working model that is viable.
Still watching to see if they can produce a boiler that is cost effective.
Done an amazing job in suppressing the price today. They lowered the price on each buy making it look like a sell. So where are they getting the shares from or are they hoping for sellers to give the up.
Time will tell.
Commenting on the contract extension Wendy Lawrence, CEO of Totally, said: "I am thrilled to be updating the market with the good news of our first contract extension since we completed the acquisition of Vocare last month. Over the last few weeks we have devoted all of our efforts to the integration of Vocare into the enlarged group.
"This key contract extension emphasises the continued confidence of the CCG in Vocare's ability to consistently deliver GP Out-of-Hours services. I am delighted with the results of the recent CQC reports, which not only demonstrate the high standard of care and quality that Vocare offers in the region but also, reflect the hard work undertaken by the local team.
The final contract value is expected to be worth approximately �3m per annum. Under the Contract, which will become effective 1 April 2018, Vocare will continue to provide GP Out-of-Hours services to the CCG.
The contract extension further endorses the quality of care provided by Vocare in the region and follows the recent publication of four reports by the Care Quality Commission (CQC) which, the Company is pleased to announce, rated Vocare's services as good in all areas assessed.