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Mirriad will likely have circa £3m cash in March which will likely be reduced by £500k a month before audit signed off in June. Anyone thinking the auditor will be satisfied wirh Mirriad’s pie in the sky profit in Q4 is crazy. The FCA is actually and finally starting to crack down on dodgy AiM cos.

interim’s are not audited. that’s why raises usually always happen before annual report signed off (fy).

mirriad has projected to lose £4m next year and that’s their internal rosey forecast. even those tinpot auditors have a reputation to uphold and won’t want to be *******ed by fca or aim team. a raise is nailed on imo. let’s see what the next update brings, £1m fy revenue or £2m. i bet it’s nearer to £1m fy than even £1.5m.

* That is so funny. You call it factual and then subjective.

That is so funny. You call it factual and then complex.

Anyway, they will need to raise cash to continue as a going concern IMO. Mirriad has always missed its own guidance. Remember last May they guided £4m revenue and at the time of guidance they had for arguments sake £320k invoiced so if they hit £1.5m total they will only achieve some 35% of the target. They are guiding a £4m loss next year. It is likely that this will be higher. H1 is always a lot slower than H2 so they will realise all of those losses in H1. They are likely to have a lot less cash than in March next year than March this year (they already have less cash). Everything points to a cash injection. Your predications have been as off the mark as Stephan’s.

She was only appointed in April so didn’t say P2 would start earlier this year. She said in June they’d commence P1b and I still expect that to start and for P2 to start next year. Given the P1b patient population the data should be really strong and I’m sure Avacta will be a different beast once that data emerges. In the meantime news on CFO and P1b design and dosing started will be welcome.

How have I been caught out?! I am speculating or forecasting that there will be a discounted raise if not in Q1 early April. I have come to learn that you're not the sharpest so to spell it out - by virtue of being a forecast or prediction it cannot be a fact or indeed a lie as it's something I expect to happen (in the future). I hope that's a little easier for you to comprehend.

Tell me with their current cash position and with a slow H1 (always has been) they will reduce their cash position in Q1 how will they satisfy the auditor which will require 12 months cash to have the audit signed off? The nature of the business means they won't have a significant forward order book so how will they satisfy the auditor to have the accounts signed off. Enlighten me.

P1b will start soon (CC hasn't missed an objective set yet) and we will have emerging data on 2 orphan indications and TNBC in H1. Given the tumours are sensitive to dox and the tumours will not be refractory the results (given we know mechanism of action proven) will surely be stunning and there will surely be lots of optionality for deals. Finally! The Peel note said finance will be linked to data so I assume emerging P1b will be a catalyst and who knows what will happen before re sale of DX, new CFO, intention to list on NASDAQ. An interesting few weeks and months for sure. Also recruitment will be a lot quicker as no 3 plus 3 and the superb results so far and SAB on baord will mean recruitment go go go

You joker, you're not a professional (as considered by providers) investor so won't have access to many platforms and providers. Because you have no argument you get personal which says more about you.

Tell me with their current cash position and with a slow H1 (always has been) so they will reduce their cash position in Q1 how will they satisfy the auditor which will require 12 months cash to have the audit signed off? Enlighten me.

If you’re right and they end the year with £4.6m given how shocking Q1 is let’s say come end of March they are left with £3m cash they will be desperate to raise. The market knows this hence the share price. LOTM can’t work it out and thinks the auditor will be satisfied with Stephan’s word. Funny as.

No one (very few) are even buying at 0.14p FFS because all know billons of shares are coming and even cheaper than now soon.

For the love of God they cannot just run on fumes, they need enough cash on the balance sheet to satisfy the auditor in order to have the accounts signed off. I am speculating that they will need at least a £6m cash injection in order to do so and given they have less cash now than last year I suspect they will look to raise soon. H1 is always very slow and I cannot see programmatic changing that (Allenby agrees) so they will burn cash in H1 and Q1. They will need to raise. It is an assumption but a safe one. I am also assuming it will be discounted so 0.1p and therefore 6bn new shares making 7bn in total. The auditor will not sign the accounts off without cash to see them through for 12 months and even with programmatic they won’t have booked orders that can be invoiced in advance. Therefore even with Stephan’s promise of Q4 profitability they will need to raise in H1.

My God. We are speculating so of course they are not facts. Mirriad will need to raise. You disagree as you did in April and then the next day or two you’re apologising as didn’t know how auditors work and you seemingly still don’t.

Hopefully unlike last time you’re not sucking others into this absolute car crash.

You’ve accused me of having a ‘narrative’ and yes I do but you don’t like it as it opposes yours. All the while the share price has gone from 2.5p to mates rates 1.25p so now around 1/10th of that and 1/20th of when you were ramping in April. Get a grip.

Read my messages re calculations and assumptions (taken from Allenby guidance and poor H1). Keep lowering your average it’ll be fine.

*IMO they will look to raise early next year and will need £6m for audit sign off as will need to have £8m for 12 months cash (to cover costs) on a going concern basis given they will have few forward orders

See my earlier post. They will need to raise cash 100% if Allenby is right and £4m loss next year as that will mostly be realised in H1 and they have £8m pa costs. IMO they will look to raise early next year and will need £6m for audit sign off. It will be a discount so I believe at most 0.1p raise.

They will need to have £8m cash to have the audit signed off and that will happen in June as the audit always has been signed off.

You’re too slow. Mirriad will burn cash in H1. The auditor needs a year’s cash to sign off on a going concern basis. Mirriad has costs of £8m pa so if they sign the accounts off in June mirriad will need to have at least £8m in cash. Mirriad wont have signed orders from reputable cos (guaranteed payment) as they have no visibility on sales (hence guidance always missed). The auditor wont take Stephan on his word H2 and Q4 will be great so don’t worry. They will have the begging bowl out early next year.

Also you moron the broker thinks they’ll lose £4m FY25 and I suggest all of that will be realised in H1 so my guess is they’ll try and raise early in the new year and it won’t happen.

LOTM are you really thick? The auditor needs a year's cash to sign the accounts off. The £4.6m you speak of at YE will be reduced by the time they want to sign the audit off as they will burn cash in H1 which is slow. They can't have the audit signed off with feck all cash unless they have signed orders which they won't do. They can't just say to the auditor yeah we'll have a £6m or whatever H2 with no visibility on it and with this year and the last 5+ years being poor too. You just don't get it FFS and haven't learnt a thing. They had £6m at last YE and needed to raise and the same will happen again with many more shares and 0.1p or most likely less and that's IF they can get IIs to stump up the cash so yes at best 6bn shares but likely more. I think they’ll be up for sale again and no interested parties and they’ll go under.

I think you’re either dim or disingenuous. In order for the accounts to be signed off the auditor will need 12 months’ cash from the audit sign off (so money from June 2025 to June 2026). Mirriad will lose £4m according to Allenby and they will therefore lose more than that in H1 as H2 will be markedly better and especially Q4) and the auditor will know this and given mirriad will have no visibility on sales in H2 and Q4 when busy they can't simply promise more revenues for the audit sign off so yes they will likely need around £6m more cash for audit sign off. I'm guessing the raise will be at 0.1p but given the share price if seems likely and could be less as a larger discount required. I hope that's clear for you. I thought I'd made it abundantly clear.

*. They will need an injection of cash to have accounts signed off.