Funding options16 May 2023 11:17
Financial Position
nanosynth group plc, the AIM quoted company specialising in the synthesis and application of nanoparticles to create new and improve existing products, announces that with its current cash resources and an expected VAT rebate, the Company has sufficient cash resources to finance its operations through to June 2023 (not factoring in any capital expenditure). In addition, the Company is finalising a claim for a Research & Development tax credit, which may provide additional working capital beyond this date.
The Company does not currently generate significant revenue and the Directors are conscious of the need to secure longer term financing for the business. The Board is evaluating a number of potential funding options but there can be no assurance that these will be successfully completed within the required time frame.