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They said until mid 2024 so their burn rate is £500k/9= £55k per month roughly.
Provided I'm calculations are correct, 30 million at 3.50p will give them only £1.05M, not £2M. It has to be 60 million shares at 3.5p which roughly equates to £2.1M. Company already stated they don't need funding till Mid 2024 so please stop scaremongering. Besides how are you getting this information may I ask? Is it something you are investing yourself from thin air but claiming you are inside to help your shorts?
Yes they don't have huge amount of cash left, just like any other AIM company but provided they start winning new contracts like they hinted they are, it will strongly rebound IMO.
Their last placing was done at 2.3% premium to the closing mid-market price so expect something similar, infact it might recover slowly as market has much clearer picture now. Money won't be a problem if you have a good product and can successfully test cancer. Dare I say, the SP looks like a gift IMHO.
GLA
This prowess is called product validation. NCI has got the funds, connections, skills, knowledge and worldwide recognition therefore anybody collaborating with them will also get similar industry acceptance, something money can’t buy. Think about what anybody will pay for a cancer cure or anything that will stop it spreading. Now if Optimal can facilitate that process for NCI, think about what value it will generate for FAB. I’m waiting for some news on that front before jumping back in.
GL
Nobody is promoting FAB, also it's somewhat news driven hence lack of interest at the moment. Look at Destiny pharma for example, motoring because of Justin Waite's constant promotion on vox. It might change in a flash if they start delivering good news constantly though. GL
Thank you for being honest finwittrader about your short. It was quite obvious to guess shorters/ traders will short/trade when it spiked over 8p. I beg to differ on the directors purchase. Even though it was £5k each, they didn’t buy any after the interim when the SP plunged to all time low, also they weren’t in a closed period then but they did this time after the NCI hookup. They mentioned another AI/ML deal at its final stage and business is somewhat improving, could have acquired shares from free options or participate in placing but they bought it in the open market, .10p below the 5p placing price tells me it might surprise everyone with some good news soon. I’m patiently waiting to buy with confidence though but I have feeling it might turn soon. GL