RE: Robert Keith and his holding in GFIN of 12.02%4 Jul 2023 09:52
I guess it is reading what the company is really stating?
- As at 5th June or earlier (it takes a day or three for a Nomad to review and sign off any RNS) the company had £400k of cash...
- They state that costs per month fall to £185k in July - so June is clearly higher as they are on a journey to lower for July - Lets suggest June costs are £250k?
- There is a cost to releasing staff - and staff have clearly been leaving based on LI profiles
- Let's suggest the cost of redundancy packages, legal and documentation comes in at say £400k (very conservative - could be a lot higher)
It seems quite clear that the company is on fumes if it has been able to cover June salaries - I would suggest that must have happened but what is left?
I would hope the company put out a fresh RNS at some point very soon to advise shareholders as to a 'raise' of some sort - I am surprised the company broker and Nomad are still in place?