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Another delay? 3p? Hard to believe the data of 20+ years is of no value.
So tempted to buy some more and then get out on all shares at say 30p target. Will it get there or is it lights out?
Market is suggesting its game over.
Incredible efforts by our CEO this month, consistency is the key:
No updates
No products
No confirmed trial
Just pay overheads / salaries
Every single month he shows up takes £25k. What a guy.
Agreed Mani.
Jospeh Collier - has other interests
Gaby Flick - has other interests
Holgate - working on other projects outside of synairgen
PA to directors - I believe is part time and doesn't work Fridays
Simon Shaw - has other interests
RM has stated in the past other people were part time due to limited activity.
We have no idea if this is now a side project or what work is being undertaken.
Is it too easy to keep shareholders on side and provide an update? We could be on the journey together..:
All we have is RM's words in Sept 23 that trials will start in H1 of 24.
We previously had an RNS in April 23 stating trials would start in H2 of 23 which didn't happen.
Throw in £85m fund raise for failed trial, 98% drop in share price, SNG001 not used in any trials since Nov 21, limited communications and no update so far this year.
Large salaries and updates only in accordance with the market regulators.
Unknown cash balance only going one way at present.
Have I missed anything else?
Very interesting and all a big mess at the same time.
Could be the reason why TFG are not buying at 5p a share?
Such a difficult decision, a MCAP of c. £10M seems very generous for a company just paying out overheads with no concrete business plan.
If the next RNS is a delay to trials or fund raise then 5p quickly becomes 2-3p a share.
I just can't see how RM launches new phase 2 trials with the current funds in place. A JV doesn't seem likely and if so further dilution for shareholders and a fundraise is never going happen at the current share price.
It's back to pulling rabbits out of hats again.
One thing I will say about RM is that he has been good at raising cash over the last 20+ years however confidence appears to be at an all time low and I don't know how even starts to put some gloss on this one.
5p cannot be considered a safe bet.
Spac - I like your thoughts on going concern qualification, don't they get round that issue if they have enough for overheads for the next 12 months and don't mention the proposed trials as that way they technically avoid any issue
As someone previously said when making a similar decision, I detest everything about this company due to the limited communication and lack of progress over the last few years.
Tough decision as not convinced the company can deliver after 20+ years.