RE: Fair value £1.1412 Feb 2022 14:22
Jimi - If you look at the final results for 30/06/21 that were released in November, the FD clearly states in the financial report, scenario one, that if the two assays are launched as planned, then the company will be cash generative, and therefore self funding. In scenario two, if the two products experience delays in their launch and no sales materialise, which he does state, is clearly unlikely, they have sufficient cash for 12 months from November 2021. Now this is the interesting point of scenario two!!! What the Financial Director states is:- If there are delays in the products being launched and the sales are not forthcoming, then other mitigating actions can be actioned to extend their cash runway, and goes on to state, that they would not make any further investments in their sales teams. We already know that they are currently recruiting two individuals to operate out in the field. I've been reliably led to believe, that the two posts Genedrive were recently advertising, were for Account Managers, which would infer that the new Account Managers would be given territories with clients already in place, which would infer sales have already been achieved??? Any client would almost certainly insist on having a point of contact out in the field. Also if the Financial Director clearly stated in the final results, in scenario two, no further expenditure would be incurred if there wasn't sufficient interest in the products. Do have a look at the final results and the paragraphs that contain the above statements. IMHO it looks like scenario one and everything is going as per the plan. Good luck. Atb Popeye.
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