RE: Genedrive TB System16 Jul 2023 14:42
It wouldn’t surprise me if they’ve had to drop it owing to the fact they’re appear spending £400k a month with no sales income to speak of and, as of this moment, still no confirmed figures on what the funding from DEVOTE will amount. Budd really can’t afford now to try and raise more funds from elsewhere on top of what RF are providing and reward existing share holders with even more dilution. He simply has to start controlling the amount that is going out each and every month, especially as he has nothing to show for everything GDR have done to date with the exception of a conditional recommendation for AIHL.
As I said yesterday, it’s easily possible Budd is just making noises about selling but actually has no intention of setting them up in reality. Gilham, the Chairman, has form in getting involved in companies and then selling them on. History I think shows he’s done deals in the £100m - £200m range. Anything along those lines and Budd will be forgiven all. Even by me. Even by Guy. Maybe.