Member Info for Muck165

Better link here

https://www.youtube.com/watch?v=ZmpTTf7qAt0

Just for info, but Salignostics seem to have been pushing a major PR drive as they roll out their launch in Israel. Here’s one example of a TV host doing the test live (couldn’t do that with any other preg test!).

https://www.linkedin.com/posts/meirovitch_%D7%94%D7%A2%D7%95%D7%9C%D7%9D-%D7%94%D7%91%D7%95%D7%A7%D7%A8-%D7%A2%D7%A8%D7%95%D7%A5-13-%D7%91%D7%93%D7%99%D7%A7%D7%AA-%D7%94%D7%A8%D7%99%D7%95%D7%9F-%D7%91%D7%90%D7%9E%D7%A6%D7%A2%D7%95%D7%AA-activity-7171186682401091584-NMqq?utm_source=share&utm_medium=member_desktop

Don’t speak Hebrew so don’t know what was said in the piece - does anyone else on here?

Well, all I can add is that ABDX have a history of releasing news in March, going into the interims. - happened last year and the year before) No guarantee that will continue of course......

The delays are always unnerving...

Re GRV - I agree this is likely to relate to how they will fund the work program.

Re the FCA - the draft prospectus was lodged with the FCA at the beginning of December last year and here you will find its rules and timeframes for making their assessment - see PRR 3.1.2

https://www.handbook.fca.org.uk/handbook/PRR/3/1.html#:~:text=Scrutiny%20and%20approval%20of%20the%20prospectus,-%E2%80%A6&text=The%20competent%20authority%20shall%20notify,submission%20of%20the%20draft%20prospectus.

These provide that a decision should be made within 10 working days, extended if revisions etc are necessary. So I can only think the prospectus has spent the last few months getting bounced between MMM and the FCA as they try to agree a final draft.

When (if) its approved, the FCA are required to publish it on their National Storage Mechanism, which you can find here. Nothing for MMM (or Georgina) has been published yet.

https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism

If there is to be good short term news, my bet is it will relate to assisting a retailer with their own brand LFT offering given that Yates signposted something was happening in that respect when he presented to the investment community in Jan.

Well, they had £3.2m at June 30 and £1.9m at December 31, so on the face of it a £216k monthly cash burn potentially leaving us with about £1.35m now (if the rate stayed constant).

But then Yates has said the second half of last year included a "settlement" for Melanie Ross alongside all staff bonuses, which of course won't be repeated in the first half of this year, and strongly indicated that revenues for this half will be higher than the last - so I'd be disappointed if the cash burn hasn't fallen. He's also been clear he is against dilutive raises, albeit I have some sympathy with the suggestion that the CP break up might have been done to allow him to participate in any raise.

Personally I don't think an imminent raise is on the cards, and I'm hoping for some good news on the financials in the interims at the end of the month, or some other good news beforehand. But the silence, as always, is unnerving.

As an aside, I thought it strange that the ask dropped to 7.5 today only to be raised later even though that wasn't supported by any buying pressure. Just looked odd for a MM to do that.

Well I have a different take.

We could have waited for approvals (the timing of which have no control) to get on with securing the lead items, and thereby threaten our ability to fulfil permit obligations this year, but instead we have decided to commit to those items now because we have "high confidence" that the Farm in will complete. My own view is that our confidence wont just be coming from GRV, but from direct contact with the DITT in the NT, and in any event committing to items now does not mean having to pay for them, at least in full, now.

And in terms of GRV radio silence, their CEO only did an interview a couple of weeks ago talking about all their projects, including this one, during which he seemed completely relaxed and unconcerned.

For anyone interested, I think these are the two forms GRV will have submitted to the NT authorities iro the transfer. Nothing unusual or onerous, particularly given that GRV already hold licences in the territory. Naturally they need to evidence that they have technical capacity and resources to fulfil the exploration permit obligations.

https://nt.gov.au/__data/assets/pdf_file/0018/203454/application-for-approval-of-transfer.pdf

https://nt.gov.au/__data/assets/pdf_file/0003/1096140/form-s15a-appropriate-person-petroleum-act-1984.pdf

Apologies if this stuff has already been posted.

Silly question I am sure, but presumably a commitment to acquire a long lead item requires payment in full at point of delivery, and not at the point of commitment?

Agreed! We raised to cover costs associated with EP145 (alongside other things) but didn’t commit to funding these long lead items then. Makes me wonder if something has happened in the approval process to give the degree of confidence we want to do so.

Well yes, but it gives me greater confidence that the farm out will complete.

Here is an article about Upfront from last week.

Lots of good stuff in it, but I have to say I was disheartened by the expected timelines for UKCA (Q1 2025) and CE (Q1 2026). IDAP could still well result in emergency use authorisation well before that (as per the IDAP objectives), but it demonstrates how long it generally takes medical device developers to get a product to market and, ergo, how long it might take for us to secure manufacturing deals with CDMO partners.

https://www.360dx.com/point-care-testing/uk-firm-upfront-diagnostics-plans-launch-lateral-flow-test-triaging-stroke

Apologies for my ignorance again, but Georgina were supposed to be listing “imminently” through their own IPO when I last looked in here early in 2023. I’ve tried without luck to reason out why that didn’t happen - can anyone help me? Thanks

Just a couple more observations on these accounts...

They were signed on 29 January 2024

On Page 5 under "Review of Operations" they signal that a listing is expected to take place in the first half of 2024.

But

On the very last page under "Timetable to listing" they signal the aim is to complete "by early 2024"

I notice that Georgina only filed their accounts for their year ended 30 April 2023 a couple of days ago, and wonder if this might have been a requirement holding up FCA approval? If so, then clearly that requirement has now been met.

https://find-and-update.company-information.service.gov.uk/company/11954589/filing-history

Maybe Struv - but it would have "only gone one way" much faster if the resolutions hadn't been passed.

So where does this go from here?

We are now beyond the last debt extension deadline - will creditors continue to extend having been given "comfort" now we have the ability to raise, or will they insist on payment necessitating a raise? If the latter, then given the state of the capital markets I worry about our ability to raise all that's required, and the level of discount if we could.

Wonder how much of the last raise had to be spent on the legals to get the restructure done, all as prep for another raise!

Hi Botham - apologies for my ignorance, but am I right in thinking that “Mark” is the Greenvale CEO, and the “final bill” relates to some NT cost associated with the approval?

Again, that's my understanding Daffy. I don't think there's any doubt they will raise quickly. Only questions for me are how much, and at what discount.