What a poor company30 Nov 2021 07:42
“We going to need a bigger boat”, they said… 7m masks a month are needed just to supply the NHS…
18 months later and we’ve produced a grand total of 45,000 masks, and spent over £4m in the process, to produce just £135k of revenue, not profit, yes that’s right, currently burned £1.2m in the last 6 months alone as per the interims. What a joke this is.
The only thing I read in todays RNS, is that there is no intention or capacity to capitalise on any short term market dynamics, and they we now want to spend even more money to chase even more rainbows which will require even more cash. If by some miracle there’s a small pump up in the share price, then will almost certainly be met with a capital raise based on what the ceo has just stated. This is zero investment case here, whatsoever.
Best, Nate