Ann: Cellmid's Shipment of SARS-CoV-2 Tests Received, page-138

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pachinko

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15/04/20

12:39

Post #: 44053293
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Originally posted by kori: ↑

Redant concur and good post. Apologies as I did say that my last post was my farewell (some may say I should have kept to my word) however there are some genuine long termers out there that are extremely stressed and confused and rightly so.

As I wrote previously to invest in CDY (in order to get a decent return) one would be entering at a mark. cap circular of $30m. After writing this post the share price is currently around 24 cents which still produces a post dilution market cap of $30m. (pre SPP)
Once again this implies a PE backing on FV based on generating at least $3m in profitability over the next 12 months. As I stated previously this is a tall order given CDY’s current financials. Hence this is why I needed to know the efficacy, the contractual agreements, and sales forecasts on this particular device to have any confidence the desired financial results could be achieved.

Some may say yes but we have a CR worth $6m with an SPP to come to fund our COVID 19 test units to get these profits – lets dig deeper:

The $6,000,000 raised less the $360,000 paid to Evolution Plus 1m unlisted options expiring 2 years from the date of issue and exercisable at $0.30 per option leaves around $5.6m which just covers the wage bill of CDY for a year.
Details:
CEO salary package of $681,452 2nd CEO is on $288,000 (annualised) MD is on $283,0005 Non-Execs combined $210,000 in fees which leaves 68 Employees (in addition to the above) at an industry total wage avg. cost @ $83k = $5.5m Total employee costs are approximately $6.5m per annum for a group of companies that currently generates less than $9m in total sales resulting in approx. $6m in losses per annum with $42.5m accumulated losses to date.

Therefore, I would be more convinced that CDY was in good management hands if redundancies and salary cuts (esp. at the senior level) were covered in the next ASX announcement whilst we are waiting for real unconditional orders to materialise.

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Hi Kori,
don't go away, we are appreciate your analysis knowledge skill, it's great if we have someone like you in our CDY forum.
by the way, I don't think we need to wait for SPP, in next couple of days we can buy the same price in current MARKET, sad but it true
Thanks again
Pachinko

CDY Price at posting: 22.5¢ Sentiment: Hold Disclosure: Held
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Ann: Cellmid's Shipment of SARS-CoV-2 Tests Received, page-138

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