Lifted from another BB13 Apr 2023 18:21
10 £250,000 in placing at 33.5p
4/10 £500,000 in placing at 41p
8/10 £505,000 in placing at 20P
10/10 £1M in placing at 25P
7/11 £625,000 in placing at 12p
4/12 £500,000 in placing at 17p
7/12 £1.4m Loan Note
2/13 £1.48m in placing at 30p
4/13 up to £5m at prices yet unknown
6/13 £1.18m convertible loan note
7/13 £100,000 drawdown from EFF
9/13 £700,000 drawdown from EFF
9/13 issue of 4.6m shares against the Convertible
9/13 £200,000 under the EFF
11/13 £530,000 under the EFF
3/14 £450,000 EFF/new investor
8/14 £1.25m at 40p
12/14 £1m at 25p and 33p ( EFF)
4/15 £2.3m ( gross) from CULS and EFF
10/15 £1m gross from CLN.
2/16 £475,000 Loan Note to Darwin
6/16 £1.3m from institutions at 10p
11/16 £1.1m from Darwin
02/17 £0.6m from a new investor at 11.625p
04/17 £1m from Beaufort at 10p
09/17 £750,000 from Beaufort at 10p
1/18 £750,000 at 22p
7/18 £250,000 convertible at 10p
8/18 £500,000 raised at 10p
2/19 £500,000 raised at 10p
7/19 £1,000,000 raised at 10p
1/20 £1.75m Placing at 12.5p
1/20 £3m Financing facility
11/20 £5m at 4p
6/21 £2.5m at 5.7p
2023 ????
Thirty two fundraisings since 2010. Raising £35.5m ** For what ? A company still bleeding cash. £3.3m raised in 2015. £2.9m raised in 2016. £2.3m raised in 2017, £1.5m in 2018. 2019 with £1.5m. 2020, another £9.75m gross. 2021 only £2.5m......But however you cut this, it still looks like about £400,000 to £600,000 per quarter just to keep the lights on. (**£33m is netting off part of the £5m against the CLN)
So, gross raised since 2010 is £35.5m !!!! And what is there to show for that ? At the Interims £25.2m of accumulated losses ! Raise £35.5m and ..........get an unprofitable business and NEGLIGIBLE ASSETS to show for all of this