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"Whereas funding for rapid testing must be met at trust or Integrated Care Board (ICB) level."

oh dear...

Each hospital generates £40k to £50k in annual revenue. (Gross profit about half that)

England and Wales are effectively one bloc now, as it just about what NICE decides for them. I think that decision is some way away. Even though info. is published in April, NICE is likely to have committee involvement in final decision.

It's definitely Genedrive, but nothing at all unexpected. The Scotland phased adoption was announced ages ago.

They might get there in the end, but it's still a slow grind. The catalyst will be something like FDA approval (for share price) but for the actual business more like US insurer approvals and final actual NICE approval (or equivalent in a decent-sized territory). By the way, even countries like Saudi Arabia have the equivalent of NICE. A pilot is only a pilot. Look for one of the catalysts just mentioned for meaningful incoming sales results.

It depends whether he's prepared to keep lending more money! GDR will not be breaking even any time next year. And they have a cash burn of at least £350k per month.

Tkevin,

On previous form would imagine GDR will be going for some other fundraise in the spring, which they will try to use to pay off the loan and have a bit of funding left over. (Or they will try to renegotiate the loan terms somehow, perhaps offering DN some kind of carrot as well as doing some sort of fundraise). Always trying to kick the can down the road somehow.

"David addresses legacy issues"

He doesn't even have a board seat does he? (He's a significant shareholder and the sole creditor though.)

Obviously they needed more than £1m. Otherwise they wouldn't have asked to raise signifiantly more in the first place. I think DN has been extremely generous in the terms for the loan. I would have asked for some warrants, exercisable at 0.2p.

Little reason for him to buy any more would think at the moment. Obviously, he's already in a very strong negotiating position as they don't have any other options on the table to keep the lights on right now.

I imagine it's a case of him making very ambitious demands and them trying to tone them down/negotiate.

Yep, at this rate they'll soon be raising £20k at a time.

Nothing of any significance in terms of additional revenue generation has been announced at all. They're only hope in the short term is this £1m loan. Their options might widen next year due to NICE decision coming up. But problem is that timing of final decision is uncertain. Just because the data is ready at the end of April, doesn't mean NICE give you a decision in April. In fact, to me far more likely that you'll have to wait another 6-12 months after the final data is actually submitted to get a final nod or not from NICE.

6 weeks of funding left. They must be in discussions with DN on the terms for the £1m loan.

Fools gold

It's easy to understand crober. Revenue is tiny and no institutional backer, only PIs. Breakeven is a long way off, if it ever comes.

The point is actually securing the payout though. Timing of that is uncertain/probably still some way off.

It does show how GDR's technology is anything but unique though.

US stocks down day, Bitcoin always falls!

There are approximately 191 neonatal units in the UK

(Costs will go up as well if revenue goes up!)