My thoughts - for what they are worth!2 Dec 2024 17:59
Gino - came across as knowledgeable and answered the questions well.
Russ Shaw - came across like an AI robot that had malfunctioned. His particular lowlights were:
1/ Insinuating that investors should be pleased that the Sp is still above the 1.5p placing level, and;
2/ Failing to answer the clear question: how much cash runway does the company have. A blind man on a galloping horse would know to answer in months - he prepared the accounts, so he should know.
You couldn’t make this up.
Positive Points:
£3m in the bank (as of 21 Nov 2024) and £700,000 tax return due in Jan 2025.
Monthly cash burn £403,000 per month.
At this rate, we are good for 9 months or August, 2025.
National Commissioning in April, 2025 could be the saving grace.
Best case scenario would be that this (commissioning) rallies the Sp, and with commercial traction, the cash runway increases, and we get a better financing deal. E.g., a commercial loan, or dilution at less of an Sp discount.
The products remain world class. The leadership - a mixed bag.
GLA.
Stephen11.