RE: 1st support broken12 Nov 2025 11:53
Think you could be right there RNE. I've just had a look at the accounts again and also at a few of the recent RNS particularly the ones about the warrants and current shares in issue. At present, there are 83m ordinary shares in issue and 62m pre paid warrants yet to convert and a further 242m cash warrants. Once converted that will result in an issued share capital of 387m shares. Shareholder's funds at June were only £3.62m, which included a significant share premium reserve. Losses are still continuing, so any cash over and above that from trading, will be going is support of those losses. Difficult to accurately forecast what the current shareholder's funds position is - that will be known once the December accounts are published. That said, making an allowance for funds in from warrants and cash out to support losses, the current NAV per share is somewhere in the region 1.9- 4.3p. Makes your support levels look good!