Costs don't stop instantly Still trial finalisation and read costs Takes time and staff to close down arrangements Leave and accruals for employment etc all come onto accounts as shutdown happens Rents, listing costs , getting out of leases , contracts etc all take time and $. Suppliers become aware very quickly these days and at this time of year so won't allow credit to be extended and it will be $ up front A party may force admin if the are not liquid so wait for r&D may be fruitless unless time permits it to be claimed. Any operating banking covenants may be now broken. Cost of year end audits and accounts all in dec/ Jan for these guys. Shareholders lose on productivity with Christmas break etc etc. Costs sunk into future arrangements and expensed may not be claimable under R&D grants and 100 other things. Companies short of cash coming up to aabinary event may have pushed all costs into this quarter to make accounts look better at the time to stop raising speculation in case of read delay etc. WQe don't know but must assume so.
IP costs are lumpy so not sure what quarter they are due for with FTT
Is it worth zero - no but poorly managed it can be worth very little very fast Whats it worth ? Don't know but you have to assume worst and as a pip is worth so much due to shares on issue you need nuts like cocunuts to think that liquidity will appear when you need to enter and exit.
Positives- its a clean shell but you don't know who the major holders and influencers are who will control board in next few months and that is a risk of control. Some Data accompanied by IP may be worth something to another party as well but we are talking minor $ unless they have missed something.
There are many shells about ATM so thoughts of a quick deal may not happen.
There is no right or wrong answer until numbers come out and direction is published by management until then it is just guesswork and a punt either way . Then it has to be executed in a orderly fashion.
