The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Any idea why the sudden drop?
I recently read that regarding the Innova tests, "the UK Medicines and Healthcare products Regulatory Agency (MHRA) yesterday concluded they are safe.
The Government has spent £2.8billion on the Innova kits, distributed by NHS Test and Trace. The MHRA said their licence, due to end next week, had been extended after a ‘satisfactory outcome of the review undertaken as a result of recent action in the USA’.
This must be worrying.
LTH
The Company currently has loans outstanding of €29.0 million from SFN and €53.7 million from Mr Falih Nahab, including principal and interest. As announced on 23 June 2020, these are part of financing facilities provided by SFN and Mr Falih Nahab, which expire on 31 December 2021. Interest on these loans is charged at 10% and the interest, but not the principal, is convertible at the option of SFN and Mr Falih Nahab into ordinary shares of the Company ("Ordinary Shares"). At 30 June 2020, £18.12 million of accrued interest was convertible at 2p per Ordinary Share. As interest from 1 July 2020, as announced below, will no longer be convertible, there will be no interest convertible to shares at 48p, as announced on 23 June 2020.
Last cash raise in March 2019 stated "As at 31st December 2018, the Group held cash balances of approximately AUD$27 million. These funds, together with the net proceeds of the Placing and the VSI Subscriptions, are currently expected to finance Seeing Machines until the second half of 2020 and will be further supplemented by the net proceeds of the Offer (if any), providing the Company with additional working capital beyond this date.
Just worried that we are now in the second half of 2020. Any views welcome.
Why does this stock keep falling?
Thank you for all your insights/updates Rivaldo, a keen follower and a holder here.
The footnote of the Master Investor feature states; "Profile 14.01.20 @ 36p set an end-2020 Target Price of 50p."
Do you think the end of year target price is understated?
Very kind regards
Seems strange to me to be able to sell 5.5m shares at 140p, the same as other much smaller sellers.
Any specific reason why this is dropping?
This looks more like a trading stock, sell on the spikes then wait for it to drift down.
When is the next trading update due? Last year early April so overdue. LTH. Many thanks
How much lower can this go? Getting worried now.
Another pile of poo company. Why did I not listen to TW.