RE: Do something21 Jan 2025 17:04
PM - check your facts please - you said 'They had a 100k contract in Nov, I think they will get a few more.'
They actually got (in the exact words of the RNS) a 'Contract potentially worth over £100,000 over a 8 month period.'
Note the word 'potentially.' So it could be. Or presumably could not.
The RNS then says the money consists of 'an upfront payment to Inaphaea of approximately £31,000 with an additional approximately £21,000 payment on completion of the first phase after 4 months and £10,500 on completion of the remaining in-vitro phase after a further 6 weeks.'
So that's a maximum disclosed amount of 62 grand, with 'approximately' 31 grand up front and that's it for four months. 7,500 quid a month wont even cover the rent will it, let alone the salaries so all it's going to do is slow the rate of loss for a few weeks.
The next 21 grand then pops up 'on completion of the 'first phase', whatever the criteria for that may be. I'd be a bitnworried in case the four months turn into 'TheoremRx months' which seem to be about 12 earth months and climbing.
So if the 'first phase' gets a delay presumably the cash doesn't come.
You need to read the RNSs more closely and revisit them, otherwise you'll be talking 'multi 100k contracts' sfter mentioning them once and then repeating it as something that has been said in the past - like the '60 million offshore cash waiting.'
So in reality there is a contract for a lot less than 100k with conditions that may or may not be fulfilled.
And as for the cash burn being among the lowest on AIM, whether that's true or not, it needs to be as an absolute basic requirement doesn't it? Otherwise the begging bowl will be out even more often.