Member Info for Hemo

Other questions are why would we have only enough cash to last until Q3 2023 after raising £6m gross? Where is the money going?

Have you also noticed that Chang and Rees are lending the company £200k to tie us over until 11 January 2023?!! That must mean we are nearly out of funds! How did it get to this? It explain the massive discount but this is incompetence of the highest order.

Where is GLTrader? I’m not happy but I told you a fundraise was imminent but I didn’t think it would be so soon or so punitive.

The Board needs to resign, there is simply no credibility.

The question is where on earth is all this money going?

Who is brave enough to put more in to the retail offering? My condition would be the resignations of Chairman, CEO and CFO.

The interim report has to be released by the end of December under AIM rules so they should be able to give us notice.

Why is the communication so poor and inconsistent?

Why can’t they give us notice of when they will release the interims, as they have done in previous years?

They are so frustrating.

Interim results should be next week although we haven’t had notice.

I think if we don’t have results next week something is definitely afoot.

I don’t think there is anything fundamentally wrong with the company or that the Board are shysters. I think there is no interest in the shares because there is poor communication and no commercial news. Investors don’t see a route to medium term profitability and they know a fundraising is coming in the next year.

We will get there but it is likely to be a long road without a takeover or a transformational piece of commercial news.

Short term headcount needs to be reduced and a new senior management team brought in. The Chairman can also jog on because he is useless as well.

Not sure where the revised EBITDA of -1.4m comes from but it is now in line with my previous projections for FY23.

These projections also indicate that further funding will be required at some point in FY24, probably in the order of £6m.

Don’t get me wrong I still believe in the company and have brought my average down to 12.2p recently. But the CEO and CFO need to go because they have destroyed the share price in spite of positive fundamentals.

I am absolutely staggered the Board has no worthy commercial news to share with us. It’s getting beyond a joke. The share price needs some sustenance. What are they doing?

We are incredibly vulnerable to a lowball takeover right now, which would not be in the interests of most holders.

Funny to think we raised funds only back in January to the following fanfare:

The Facility will provide access to non-dilutive funding to enable the Group to capitalise on future accretive growth opportunities including potential licensing and M&A activity, allowing for faster deal execution and lower transaction costs.

Where are the licensing opportunities and M&A activity signalled at the time?

To be honest I almost don’t think they could even raise money through a placing at the moment and that is perhaps even more scary than them actually doing it. Any placing would probably be at 1-1.5p and that would be catastrophic.

As I said and demonstrated in earlier posts they will need to raise funds some time in FY24.

I’m surprised they would need to do it now though and from a position of such share price weakness. If they do raise now most of the Board will have to pay with their jobs and reputations (at least what’s left of that particular wreckage).

The silence of the Board is disgraceful.

What is the new Chairman doing?

Can we have some (substantive) commercial news please in the form of an RNS?

It’s not much to ask is it and it’s what all listed companies do.

When I look back on the full year update I still find it amazing we didn’t announce the two new megalabs in an RNS.

Who would accept a takeover at 4p?

Please please but no less than 15p

I’ll repeat my post from Saturday in summary - the share price is on the floor because based on what we know now there is no visible path to medium term profitability and new funds will need to be raised in FY24, whether from debt or equity.

You simply can’t argue with the share price and current management’s abysmal influence on it.

Will it go any lower this week?

What has happened about the strategic review of Taiwan announced in April? It’s taking too long.

Agreed on all counts. Only 2 separate commercial RNSs all calendar year!!! Absolutely dire.

Sorry I’m on my iPhone again and it’s confusing for everyone but I assure you Hemo is Slich!!!

Thanks GLTrader let’s see what happens - we all want the same thing but I’m afraid the share price tells us everything we need to know about our prospects and something desperately needs to change. I really do believe it’s time for a change at the top because it is not working with LR. If he were a Premier League manager he would have been gone a long time ago, no mercy!

Is that another profit warning? Margins are under pressure and therefore implies profits will be lower than expected?

Good news is that it seems a placing is not needed.

It’s the bland way all this is presented that irks. The share price is in the toilet but there seems no desire to improve it.

Now I have my account back my average is 13.5p.

What a useless investor I am!