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Fin Rev- Paradigm looking to raise funds, page-19

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9,850 Posts.

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29/10/23

16:22

Post #: 70600456
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Originally posted by Dungiven: ↑

I should start by saying I haven’t seen the article, but if it’s all true and we are raising now at 43c, then this looks very very ugly. There has been amateuish capital management going back the last couple of years. They couldn’t have managed the cash position any worse if they were actively trying to. Leaving themselves openly exposed time and time again and forced to raise at extreme points of weakness. Played like a fiddle by the instos.

I’ve said before that we did this to ourselves. It started with Justin. We pricked our own finger and dipped it in the shark tank. Instos must have thought all their Christmases had come at once when they saw this company f@$#ing around with a potentially vastly lucrative asset. The scientific side of tge business, designing and executing clinical trials, building evidence etc all fine, competent servants….but shareholders have been massively under-served by the board of directors and their utter naivety in capital management matters.

Hot on the heels of rampant talk of deals and non-dilutive funding for trials - this is a bitter bitter blow. Many holders, myself included, saw this risk playing out but (reluctantly) bought into the narrative that the company were playing a game of brinkmanship and genuinely believed deals could be found before a CR was required. They straight-up lied to us, it feels like. The timing of this just about proves it. As the man who was doing all the talking recently, Paul Rennie has put himself right front and centre of a very very suss episode of shareholder communications/miscommunications.

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Interesting that John just resigned given his risk and compliance oversight role

PAR Price at posting: 61.5¢ Sentiment: Hold Disclosure: Held
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Fin Rev- Paradigm looking to raise funds, page-19

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Fin Rev- Paradigm looking to raise funds, page-19

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