Arria NLG26 Aug 2015 09:51
Have been keeping a close eye on Arria and have come to the conclusion that the valuation given to this company, market cap circa £35m, is grossly over valued. It wasn't that long ago that they failed to raise new funds in London at a substantial discount to the market price whilst disclosing that Shell had dissolved their contract with them. Surely there are reasons for this? Admittedly they have pulled a rabbit out the bag with some promised fund raising from what looks like existing shareholders but even this doesn't appear to have arrived in its entirety. These announcements they been putting out labelled as a "Proof of Concept" carry no mention of any revenues so one can only assume that there are none. I would be very interested to know how a business with such a high annual burn without any revenue can, and I quote the CEO, "continue as a viable concern"