RE: FUNDING OPTIONS10 Apr 2023 14:13
From the half year Financial Overview report. Last paragraph on sustainability
During the six months to 30 June 2022, the Group recorded revenues from continuing operations of £9,988 compared with £133,116 for the six months to 30 June 2021. The operating loss from continuing operations for the period was £1,781,217 (30 June 2021: £1,162,718). The loss per share on continuing operations was 0.085 pence (30 June 2021: loss per share 0.057 pence).
? Consolidated net assets at 30 June 2022 amounted to £3,443,023 (31 December 2021: £4,959,667).
? Cash balances at the period end amounted to £1,787,242 (31 December 2021: £3,760,992).
The Interim results include non-recurring charges as a result of action taken to reduce overhead cost. The Board has now completed its review as of September 22 and now believes that, as a result of these actions, the cash burn has been reduced to a sustainable level.