RE: Is further funding needed??6 Jan 2022 12:52
MPO,
Please try not to scaremonger people into thinking a fundraiser is imminent.
Lets focus on the facts:
Lets be hugely pessimistic and assume we have £50mil in the bank.
Previous annual cash burn was, as you say IRO £4-5mil. This included ABs salary.
Add in 80 staff at circa £30-40k per annum. Lets round that up to a more than healthy £4 million additional costs per annum as things stand.
So overall cash burn is now perhaps closer to £10mil (again I've been very over generous with this figure to allow building lease costs etc).
This gives us at minimum 5 years of cash in the bank.
Obviously when, not if, orders arrive then capex will increase but I'd imagine any orders would require a partial upfront cost which should cover this capex.
If we go down the leasing route then I guess you may expect costs perhap IRO £10mil but again speculation on my part and also probably very generous. This again gives us 4 years of clear funding assuming zero (highly unlikely) income during these 4 years.
Also assuming that you need to evidence 1 year of cash flow in your accounts to remain viable then IMO worst case scenario gives us a comfortable 3 years in which to get the 'S' cell developed, some sales banked etc etc.
These figure give me a lot of comfort and hopefully all genuine investors.
Pateince remains key but worth the wait IMVHO.
GLA'genine'H
Jim