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The recent results show that things are not good here.
Kelly needs to rethink his plan. First main one would be to reduce the number of CROs to one and reduce the number in management. Time to get real.
With no real news from the company and no deals being announced I can see 35p is in sight.
They will need to start cutting costs further. Raising more money will also mean dilution of the stock.
@Hastings74 - you raise a great question. Why does Cirata need 3 CROs and several VPs? Raises a big question mark on Kelly.
@TT - the company is bleeding money and also adding new revenue will not help with the funding state. If you think they are fully funded till Q4, they would need to start raising more money by Q3 to ensure continuity. So the share price is going to take a slide downwards. You can still make money on selling the stock.
Do I need your permission on being here?
@TT1981 - don't think I want to take more money from what you have already lost so far with this investment in CRTA.
Don't forget you're also saying fill our boots at 50p and there would be a lively finish coming - what was the lively finish - losing more money!! Stop ignoring the fact that the company is losing more money than making it and will need more funds soon.
@frdickbyrne - yup it will going to 20p. Has to go to 40p on the way down! As you know the company is burning cash and will need new funds which means dilution.
Large sell this morning of 135,000 shares. Looks like there will be downward push on the stock. Expecting this to hit 40p soon.
@Pearls - any discussions with RG would need to be announced to the market. This is exactly what got the organisation into their issues previously.
I also do not think RG would be putting more monies in when he has lost so much so far.
CRTA will need more funding and this will mean either a rights issue or extra shares being listed - either way the share price will be going lower.
@Sprat1982 - more than £200M has been raised but I think you know this already. The discussion groups are here to give all a balanced view. Not just rose tinted.
In my opinion more funding will be requested and that will mean further dilution and that means a lower share price than now. Watch this space.
Agree that they need to stop burning so much cash. They will need to reduce headcount before they can fund raise.
@Sinitta - good point raised but I doubt very much that the directors will be putting any of their monies in. They are expecting the shares to go lower since they will need fund raising. I am not sure how many times investors will be asked to keep stumping up more money.
Agree with @Handsoff. What growth is expected for the year 2024?
Based on the numbers in the first quarter it seems that they will miss the yearly numbers by a long way.
The other concern is the cash burn. Still too high and they will need to get more funding soon.
Dilution of the shares will happen so be warned as the stock will be going lower.
Why is Kelly's salary over £450k plus bonuses on top of this for a business with approx $10m in revenue? I don't think this is sustainable.
@Pearls - I do like your confidence. Not knocking you - you have your opinion.
I do agree that the cost base needs to be trimmed - and I do think around the 75 people range. They do need to cut management levels as no org this size needs 3 CROs they have. They will need another raise of funds and I think this will come in next few months. Maybe in July - 1 year after the first raise.
Rose tinted glasses comes to mind.
But hey funny old world.
Management have said the same before - that the foundations are in place to deliver - and they delivered only $0.7m.
More money will need to be raised as the cash burn is still high. And to raise more money means further dilution.
Not sure the ex SAGE CEO is as steady as you state. The numbers do the talking and they are not only bad but extremely bad. His magic has long gone. There are much better opps out in the market. This stock is dead.
I think JWBellamy is right here. Shares will go down to the 20p mark.
Pearls - words from Kelly are just words. The results show there is no recovery here. Expect the price to head below the 50p mark.
Terrible results. Burning a lot of cash.
Why does an org of this size need three CROs?