Funding4 Oct 2021 09:41
The good news is they do not expect further fund raising :
The Group had a cash balance of £7.0m as of 30 June 2021 following a successful fundraise in March 2021 which raised £6.5m (net of costs). The funds raised, in conjunction with the existing cash balance, are expected to be sufficient for the Group to reach commercial revenues and sustainable positive cashflows, with these expected to commence in Q1 2023. The Directors therefore have determined that it is appropriate to prepare the financial statements on a going concern basis. For further details behind the judgments and estimations used by the Directors in reaching this determination, refer to note 2.