RE: Publication of Annual Report28 Apr 2022 22:48
Stupid time for an RNS, my immediate reaction was what’s hidden. I have only had time to scan read but…
Firstly ops are fantastic, p1 trial underway after promising pre trial data and financed. But we knew that anyway. It’s massively not in the SP imo. An IND permit for GaM treatment of GBM surely has more value than our mcap alone! That project is simply awesome!
Stonechecker is alive (valued at 668k in accounts after loss). Looks like it’s for sale. My guess is that that will help to finance IB…
“ Impairment of intangible assets
The directors have reviewed the valuation of Stone Checker Software Limited in the year and valued the company based on the last offer that was received for the company and its software. Since the offer, the software has continued to be improved upon and therefore the directors feel that this valuation is acceptable. The asset has been impaired accordingly. Refer to Note 11.”
Then the IB suite has absolute blockbuster potential! I mean that seriously but we knew that as well!
Ok cut to the chase. It’s all about finance. I sound like a stuck record!
This is headline after a few beers so DYOR….
Revs 520k (but note that doesn’t include the NIH 3m grant which by the looks continues into this year with poss top ups (my view) ).
The new client relations manager and marketing agency are absolutely key to do the ‘heavy lifting’ to release the potential of revs…
Admin costs as always for these biotechs are high, near 1m. So we are (last year) loosing 500k/yr but we had cash of 728k so I guess on current run rate we are near evens.
However, revs are set to increase based on wider adoption of IB and also no doubt with increased/continuation of grants.
We also have 207k of CLN’s, which actually if you looked at the debt structure of say O&G or mining companies is not bad at all and only at 6%!
In terms of wages (300k) these are minimal, we have a BoD of scientists taking equity! They even have to make their own pension arrangements
“Taking in to account the comments above, the Directors have, at the time of approving the financial statements, a reasonable expectation that the Company and the Group have adequate resources to continue in operational existence for the foreseeable future. Therefore, they continue to adopt the going concern basis of accounting in preparing the financial statements.”
Also TB has stated he will underwrite any cash shortfalls in the Co……
“ The Directors have prepared Group forecasts and projections, which show that the Group has a reasonable expectation of maintaining sufficient working capital to enable the Group to meet its liabilities as they fall due for the foreseeable future, being a period of not less than 12 months from the date of approval of this report. At 31 December 2021, the Group had cash balances of £728,586 (2020: £478,910). Additional financial support, if required, will be available from the Chief Executive Officer through the convert
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