Deltex Medical Share Discussion Threads

[amt] 15/7/2023 08:11

Yes it's given them a runway until non invasive tech comes along. That should be a game changer, until then I am not expecting much. So a year or two to tread water and minimise cash outflow

[effortless cool] 15/7/2023 07:12

Well done, at least there is a chance now.

[amt] 15/7/2023 04:28

Basically the subscription values the existing company at about 2m, a quarter of existing share price. Anyway better than going bust since the non invasive product should do well when it comes into production in the next year or two.
About 70% dilution.
So at the end of it we should have about 1.8 million of cash and a market cap of about 4 million at share price of .2p
Not sure if my numbers are correct as all done in my head.
It looks like a million of cash will go to paying off debt etc so perhaps only 700k left to fund the business.

[babysitter] 14/7/2023 19:55

I'll be taking some

[sidam] 14/7/2023 19:22

But there is a large retail offer.

[the count] 14/7/2023 18:36

--->ALL

Apart from killing most of their long term shareholders, what a final act of supreme cynicism.... a Friday close market announcement.

Disgusting.

Sorry to all who are still in here. Virtually a total wipe out.

TC!

[mrc2u] 14/7/2023 18:15

Have skimmed. Ugly. Have messaged home and am going to escalate to G&Ts: they have Hendricks and some fancy tonics with herbs and fruits. Feels like a better investment, even if not as good as the free beers.Chairman having a laugh or what?MrC

[ramnik007] 14/7/2023 17:40

That is a whopping discount to the last quoted price. Existing shareholders getting wiped out. Terrible execution of strategy over the last few years. Not launching the new product and running out of cash.

[mrc2u] 14/7/2023 15:53

Well, that's Friday nearly done and no announcement yet. Given they are running out of cash mid-month, and it is now mid-month, they had better get their skates on.But it's the weekend and a nice pint of ice cold continental lager awaits me round the corner and I'm not paying.CheersMrC

[doglover2003] 12/7/2023 06:05

To provide funding by private investors I would imagine that that asset finance secured on new monitors in service would be a useful approach.

[mrc2u] 11/7/2023 14:19

Hmmmm - suspect it will be more like 0.2p, perhaps less. Depends if the Chair & Board can look after themselves. If they can, they will be probably be able to find it in themselves to shaft the rest of us. If they can not hold their corners, they are more likely to fight for us. Time will tell and suspect we will hear by Friday afternoon at latest with a take it or get crushed retail offer.MrC

[chrisdgb] 11/7/2023 14:12

Hopefully Allenby can pitch the fund raising at 0.75p, yes a discount but not cratered, I would be happy to add at that level......

[gnnmartin] 10/7/2023 11:38

They were not allowed to try it in a hospital before they got the CE mark, ie before now. Its a pity they can't persuade the hospitals to pay for trying the monitor out, but it's not at all obvious that DEMG would be better off if they tried to insist the hospitals dig chip in.

[mrc2u] 10/7/2023 09:12

Let's not forget that this is the same new monitor I first saw a prototype of at DEMG's investor open day on 5 May 2017. Over six years later and now we hear they haven't bothered trying it in a hospital.We were told they didn't need the last £250,000 loan but that's all gone. They got a clean audit report, albeit from a Mickey Mouse auditor, only weeks ago. And now it's stump or take a big loss. Fiasco!MrC

[georgemichael92] 10/7/2023 09:03

It's hard not to know that your ship is sinking when the water is perpetually flowing in.

[gbenson1] 10/7/2023 08:38

This latest RNS drives me to dispair, I'm not one to use foul language although I did serve a long time in the military. This inept board need to grow a pair! We must have a bright set of people who have worked hard to get the new monitor from inception and through to sales. The board seem to be too namby pamby, firstly allowing institutions to borrow the machinery because they say they couldn't afford it, oh don't worry we'll lend you it they said!! And now after the new monitor has passed all the relevant hurdles and achieved a CE mark, the board still want 3 months to make sure it works ffs.. Surely it's also been though some sort of medical competency!! Its ready for sales, get it sold!! one thing DEMG don't have the luxury of is time, their almost in administration. This board needs to go now, to be replaced with a driven set of business savvy people to take the company forward, the agency abroad waiting to issue their tender must be pulling their hair out and may well decide to look elsewhere after this shambles launch by the company. Do they realise this is shareholders hard earned money their using on their kindergarten tactics!! Oh yes we all know what the next RNS will contain!?

[sidam] 10/7/2023 07:28

This is the first time I have heard of a three month gap between launch and sales. The directors must have known this and if not are even more incompetent that was previously thought. I think they have misled shareholders. The delay means any cash raising will need to be sizeable. No mention of timing for the rest of the world!
I am not a happy monkey.

[mrc2u] 10/7/2023 07:00

Good news is that the new monitor is now released. The bad news is that it isn't actually for sale yet. That's not for three months and that three months will take four. This gap is all completely normal and everyone has worked very hard. Had thought release would mean sales soon after and this begs questions on why running out of cash next week was a shock that will cause many of us monster losses.MrC

[mrc2u] 07/7/2023 21:45

Comforting that everyone should get a go. Devastating to those who don't have cash floating around on the off chance the company ran out of cash weeks after a clean audit report. If we were in America, suspect we could recover losses from getting the shirts off the Board's backs, or the ducks out of their duck houses or the water from their ornamental fountains.MrC

[gnnmartin] 07/7/2023 14:22

I've had a reply from Andy Mears:
As stated in the RNS yesterday we are working with Allenby on a fundraise, and we have been very explicit from the outset that this must give the ability for any existing holder to participate if they wish to. Hopefully, Allenby will be able to expand on how that can be achieved shortly.

That is a comfort.

[trentendboy] 07/7/2023 12:37

Was doomed from a long time ago - look at the dates of this thread.Sad demise

[bugsbunny10] 06/7/2023 20:21

So we are doomed. That £50k down the drain. Would have been better buying a car or £50k of lottery tickets. BOD have been a shambles.

[gbenson1] 06/7/2023 14:03

Hi gnnmartin whilst I admire your initiative, there are lots of fund raising vehicles out there, sadly most take a percentage of the share capital and "normally" sell it over time for less than they received it, plunging the company into further debt. I think in some cases it's called death spiral financing. I think a company called YZP? comes to mind. The best way forward for DEMG would be another loan from the board albeit I think at 12% interest, but it would appear that even they are reluctant this time as perhaps the company have been back to the trough one too many times. I'm not involved in finance other than my own, but if the interest is there then perhaps Allenby can offer something at not too much of a discount to the current share price!! Worrying times, but finger crossed DEMG deserves better..