They have given themselves until the end of 2023 to start a...

They have given themselves until the end of 2023 to start a trial for Genetype with insurers in the US, that's a substantial change in timelines, especially given there are competitors in this area. What's the capital raising for apart from paying their salaries?. I think they need to sell the business to a pathology group - like they did 10 years ago but the whole of it this time, or get a sophisticated investor who can assist them, not just a rights issue to pay salaries. At least if they sell SH can may be able to their money back.
What is the strategy for buying these paternity testing companies? I don't think the profit from this will ever be more than their costs of running the whole business, and the businesses they buy... they are shopfronts for basic genetic testing, hardly game changers. Then announcing they are banking on the R&D tax credit....goodness me. I would be more excited if the last point was first point in their update: studies in epigenetic and precision oncology. At least they aren't still banking on being the genetics provider for the Indian race horse industry......
Looks like nothing imminent on the horizon for this year, and by next year they will have almost missed the boat on Polygenic Risk Scores for diagnosis. Time to do some more sophisticated genomics testing.......... or get out some shovels and start digging for lithium.....