They using the Grant for consumables, human resource and capital investment. Consumables are basic stuff.
Although the non-dilutive funding can be claimed over 5yr period, they have stated they likely to claim the bulk of it early and paid quarterly, ie £250k per quarter. That suggests they are saying they are short of cash.
"It is intended that the non-dilutive funding available under the Grant will be used by Fusion to cover human resource needs, materials/consumables costs and capital investment. As such the bulk of the non-dilutive funding is likely to be claimed in the earlier period of the Grant and is expected to be paid quarterly in advance against an agreed project plan, which is a further distinct advantage to the consortium members including Fusion. The project is due to start on 1st January 2025. |
Also note that the following year placing was at 5% discount in highly difficult market so clear they’ve made significant progress since |
Board were adamant no fundraiser needed and cash to at least h2 2026 at last update. That was before grant announcement and forecasts supported by shard and Allenby. They later confirmed 250k received in addition to then .4m and another lot of receivables due. I’m inclined to believe them they’ve massively reduced cash burn and margins significantly higher. Would be highly highly doubtful they go back on their word and need to place. |
Just read through today's posts,I didn't realise they had done placing in 2023 at 84% discount, blimey that's a big hit and hope they don't pull that stunt again, funding may be needed soon as they had 0.4£Million left at last financials plus the Grant of a £million,of which they may not use yet,so funds could be low. |
8.7 on the ask. |
£10.31K at 8.25,big rise coming into close, |
You’re right, starting to fly now, it was oversold |
Last of the 7's gone, next buy should be in the 8's. |
Two £7.8K buys helped price to tick up, expecting nice run now, very undervalued this one. |
8's soon 👍 |
Looks it is about to move, |
I presume he was a troll deliberately trying to cause trouble which is a shame… |
Good area of support, here. Just a pulled back to it before next leg higher |
Done search but can’t see - can you post up link - cheers |
I answered your question with a genuine answer, have you watched the Share Soc presentation? |
francy-a clueless, serial deramper with new and ever changing handles across ADVFN. Just filter it. |
francois
Looking at your last post, I am now inclined not to give benefit of doubt and to concur with thiopia's sentiment.
Do one. |
Thanks Trout and LFD.
Bit naughty from THI.
Looking back at your posts you appear to be ok with yourself posting stuff about placings at companies, with some direct quotes from you below. Kettle , pot , black springs to mind .
“Everybody knows there is a bucket shop placing incoming right ?
Cash as of June 30th : £1m
Cash burn rate in H1 £0.8m
They must be running on fumes right now. Will have to do some sort of financing before results are issued”
And
“we've developed some amazing news technology but we can't tell you about it. Hmm you can smell the bucket shop placing from here.” |
As well as the cash grant, the FTI also allowed them use of the building, capital equipment and up to 20 staff that will be available to members of the FTI going forward.
This reduces costs dramatically and means they can do some higher margin work (using some of the available capital equipment).
The CEO was confirming the cash runway through to late this year before the FTI RNS. Have a look at the Share Soc presentation to hear for yourself. |
bit harsh thiopia (if a genuine query)
francois (giving benefit of doubt, but don't overdo it) - one of the many questions I had to make a call on, when I started building a position in December.
You presumably have taken into account improving sector sentiment and increasing FAB revenues. Also lower costs ( hugely supported by "free" expertise and resource at Queens) leading to higher margins on those increasing revenues.
My judgement was "yes" and that we are commencing a very exciting rerate. I now have a substantial position in FAB,
But all shares carry risk, and you must make your own judgement |
Genuine query . Looked at accounts to sept and cash balance low at £0.4m as per RNS statement. They have some debtors also at £0.4 , so £0.8m. Also got grant for £1m.
Fundamentals look good here but worry about cash position. Would possibly invest but even though CEO mentions no placing , can they be trusted. Sensible replies appreciated. Just doing due diligence and may have missed something. |
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