Hi soud The SPP is only $1m of the CR. The other $9m has already...

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retiredyoung

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24/08/18

17:18

Post #: 35165933
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Originally posted by soud ↑

This financial report is very disappointing. There has been no respect on cash and cash management has been very poor as I had indicated several times before. We should have had more cash end of this year than last year but we are some 2 million less than last year. Salaries cost are more than half of the total revenue. If you add travelling and other expenses, one is talking of some 80 percent of the total revenue.
Other expenses is a whopping 25% of the total revenue and yet not a single statement written on what these expenses are. It is a financially re-engineerd report to look good but it stinks. For company that is struggling to preserve its cash, I cannot see any effort to reduce costs at all.

In short there is nothing to cheer about on this report.

The company is heading towards bankruptcy. There is no cash left and I am not sure if the planned financing may even take place as the share price, as I had predicted, is below 38 cents.

Still we are defending the management.

Very sad indeed.

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Hi soud

The SPP is only $1m of the CR. The other $9m has already been raised, but approximately $7.3m is subject to shareholders’ approval.

Cellmid has successfully raised $9.0 million (before costs) via a two-tranche share placement, the second tranche subject to shareholder approval

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Placement of shares will be allocated in two tranches as below:

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Tranche 1 – unconditional placement of 4,523,959 shares issued under the Company’s existing placement capacity in accordance with Listing Rule 7.1 (to raise approximately $1.7 million) to sophisticated and institutional investors

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Tranche 2 – conditional placement of 19,160,251 shares (to raise approximately $7.3 million) to sophisticated and institutional investors and to directors, subject to shareholders’ approval at a general meeting of the Company’s shareholders, expected to be held on or around 7 September 2018.

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Last edited by retiredyoung: 24/08/18

CDY Price at posting: 37.5¢ Sentiment: None Disclosure: Held
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Hi soud The SPP is only $1m of the CR. The other $9m has already...

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