On February 29, 2024 Opyl announced an interim loss of $1.28m, up 106%.
Two weeks later, chairman Mark Ziirsen announced he was quitting.
Then, last Friday, Opyl revealed plans to divest the Opin division.
Given the dreadful interim result - and disclosure that Opin's cash burn is at least $70k a month - directors were obliged to take drastic action...either shutter the operation or find a buyer.
It seems that Dr Hugo Stephenson was the only one to put his hand up.
The more I think about the Opin dilemma, the more I understand the board decision to sell to Stephenson.
I don't want Opyl to announce a full year loss of $2m plus. And I don't want it to announce inevitable and on-going CRs.
No, the sooner it focusses on TrialKey, the sooner it can stem group losses and move towards profitability.
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