RE: Dont get caught in this "p&d"18 Mar 2025 12:16
Shaml89,
Either you're trying to totally ignore the facts that are in RNS's, by simply repeating the same stuff or you simply don't understand what your being told !
So let me try & spell it out for you in black & white
Starting from the 14th Jan RNS
"The Group's current cash balances as at the date of this announcement total approximately £1.5 million. The Group has no debt, other than a total lease liability of £0.6 million. The Group currently has in place an undrawn overdraft facility of £0.95 million which expires on 31 May 2025. If none of the Material Opportunities are converted to orders, the Board expects the cash resources of the Group to last until approximately the end of May 2025."
"The potential contract value from the Material Opportunities for the financial year ending 31 March 2026 is approximately £15 million, and it is expected that there would be follow-on sales of units, software and support. There have been regular ongoing discussions with these potential customers and significant milestones are scheduled for the fourth quarter of the financial year ending 31 March 2025.
As at the date of this announcement, the Group does not have confirmation from these potential customers as to when purchase orders for the Material Opportunities will be entered into, if at all."
From the 13th March Trading Statement
"Current Trading
The Group has recently received several orders from customers in the US, Indonesia and Europe and further orders are anticipated before the end of the financial year. Accordingly, the Board continues to expect that revenue for the financial year ending 31 March 2025 will be in the range of £5 to £6 million.
A further update on trading will be provided in early April.
Strategic Review
The Strategic Review continues and discussions are ongoing with relevant parties. It is hoped that one or more offers to either acquire the Group or to provide additional cash resources will be forthcoming although there can be no certainty that such offers will materialise."
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So if none of the "Material Opportunities" happened they would have had enough cash to last until the end of May 2025.
However in the Trading update they have clearly stated that some of these "Material Opportunities" have already been signed & expect the total by the end of this month to be in the £5-6M region, which therefore extends there cash runway beyond the end of May 2025.
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They are not legally permitted to issue any new shares for less than 1p each.
If they wanted to issue them for less then they need to call an EGM & have shareholders approve a change in the nominal value of the shares. There is no guarantee that shareholders would agree to such a move!
LOTM
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