RE: Positives4 Jul 2024 15:14
Hi Clarets... Didnt really answer any of my points, but I suppose he cant, given the rules.. Am happy to share the response below, and would hope Pete wouldn't mind either given the circumstances, and the amount of big holders here.. There is nothing there that's betraying confidence etc anyway...
"As you will know Physiomics has made some progress over the years in establishing foundations around its pipeline and investing in expertise. However, the business is still operating at a loss and since stepping into the role as CEO just over six months ago, I’ve been working with the Board to make the changes needed to turn this around; actually, addressing many of the points you raised below. However, many of these changes aren’t quickly realised, primarily down to our often-lengthy sales cycle, but also the time it takes to develop or acquire new capabilities. Even so, we are seeing green shoots and as communicated in our recent announcements, this year has ended with the record level of contracts won (based on total value) and going into next year with over £0.5m worth of revenue already contracted, with additional revenue contracted for the two years following. These figures aren’t just incremental increases compared to previous years; they are significant increases. We now need to build on this, but to do so and continue to drive the necessary change, additional funding is needed. I understand your frustration regarding the placing price and raising money at this price isn’t a decision the Board made lightly.
I am aiming to provide a further update over the next months, but in the meantime I can only but thank you for your patience."
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