RE: Not a good look for the new board25 Oct 2021 20:10
Not a surprise retail investors are impatient given all the failures and delays over the years, multiple placings, huge dilution and another placing needed imo before much longer, and with Lanstead selling the share price is only going one way imo 5p a real possibility over the next few weeks
RE: Not a good look for the new board25 Oct 2021 15:30
I would think if they could get a placing away at around 6p that would be good business imo, the CLN deal has been a disaster and needs repaying in 6 weeks time, and Lanstead selling is just draining the share price week in week out so imo better to do a placing sooner rather than later at say 6p before Lanstead decimate the share price towards the 5p range, all imo
The problem is the administration burn through £6.9m a year, £3.6m for the first 6 months of this year, and they only had £4.2m left as of 30th June… so obviously a placing will imo be needed pretty quickly to keep the lights on, especially with the £700k CLN due to be repaid on 10 December.
RE: £700k of CLN to be repaid to L122 Oct 2021 21:04
But that means the new holder would sell £700k worth of shares decimating the share price even further! It would make no sense if L1 were able to convert at 6p for example it would just kill the share price even further. Glad you agree a placing is needed, insane how they burn £3.6m in 6 months period, shareholders have been decimated here
RE: £700k of CLN to be repaid to L122 Oct 2021 19:03
Well Lind didn’t sell them, IMM paid them back. And on 10 December £700k is due to be repaid to L1, that’s stated in the June 2020 rns. The CLN expires on 10 December so why would anyone buy them? And why would IMM shareholders want another failed CLN deal with a lower conversion price? Also even if they didn’t pay the £700k owes, how much cash will IMM have left by 31 December 2021? Because they spent £3.6m in the first 6 months of this year, and as of June 30th only had £4.2m left so assuming the same cash burn that could leave them with £600k left at the end of this year imo, if the £700k needs to be repaid then they hve nothing left in 2 months time imo if we assume cash burn is the same….no wonder they are trying to cut costs. Are you telling me a placing won’t be needed? And if you are please explain where the cash is coming from?
RE: £700k of CLN to be repaid to L122 Oct 2021 13:01
They had cash of £4.2m as of 30 June… and lost £3.6m in the 6 months prior… so take off the £700k that needs to be repaid on 10 December that only leaves £3.5m cash and they burnt through £3.6m in 6 months so doesn’t take a genius to work out a placing could be on the way.
Rns quote ”Should any securities remain unconverted on 10 December 2021 the Company will repurchase, from the Investors, the outstanding face value of the unconverted Securities.” As we saw in the interim results the amount outstanding is £700k so in around 6 weeks time £700k will need to be repaid to L1….. yet another example of shocking finance decisions and will no doubt come as a shock to many, and with Lanstead still selling the share price is only going lower imo, 5p could easily be hit by year end imo
Lanstead have been dumping their holding, so any news here will imo be sold into by them, they still have another £1m worth of shares to sell, then there is £700k from the stupid CLN to be converted or repaid… this share price isn’t going anywhere but down for a long tine, they will know Lanstead are dumping so not much point releasing multiple rns updates to see it sold into
What does Lupozor now entering PK study even mean?? It’s either started or it hasn’t, 24 ppl have either been injected or they haven’t, total joke this company how hard can it be to find 24 healthy males and inject them with Lupozor, ridiculously slow progress or non at all and burning cash for fun too, won’t be long before another placing amazed the price is still at 7.5p tbh
Think this goes sub 1p today, China has made a commitment not to build any more coal fired power projects abroad. This project has not yet been built so the writing is on the wall imo looks like this will turn into a cash shell over next few months imo
Lanstead selling out now too, the last rns was incredibly disappointing no wonder the CEO resigned, in hindsight that was the red flag, I’m out guys Lanstead selling out at all time lows is another red flag I cannot ignore
Looks like it’s going to be 2022 before any phase 3 trial gets going now imo, The CLN and sharing agreement with Lanstead could do with been scrapped too so nothing can hold the share price down in future hardly any volume here so these agreements do not work unfortunately
Disappointed with today’s rns, they need to commence this PK study which will take a few months and then another 8-12 weeks to complete it. No phase 3 starting this year by the look of it, back to sleep for IMM