Update30 Sep 2022 11:09
Not great to say the least.
Based on financial projections prepared by the Directors, the Group’s current cash resources are
insufficient to enable the Group to meet its recurring outgoings for the next twelve months. The
Directors have a reasonable expectation that the Group will continue to be able to meet its
commitments for the foreseeable future and will raise funds when required from either the debt or
equity capital markets.
Whilst the uncertainty caused by COVID-19 has diminished, concern over the continued impacts of
the war in Ukraine is creating volatility in capital markets and will make raising additional funds from
any source significantly more challenging, however, the Directors remain confident that this is
achievable.