RE: Institutions4 Mar 2021 15:58
I hope I am wrong but history tells that when PF mentions contracts or wonderful opportunities then this announcement is followed by a placing. He raised 5 millions in December and paid 2.6 millions towards debt repayment , placing must have incurred some costs as well. That leaves him with 2 millions , I dont know about cash burn and he did not mention net cash in this update.May be I am being too cynical , but I see this trading update as peter's way of stopping this on-going fall and if things are bad then I am 90% percent sure that money raised to meet "pre- contractual expenses" has been spent on operational costs and we might see placing or death spiral financing soon.