Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 368

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 368
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 of
liabilities in the normal course of business.

As at 31 December 2023,
we had cash and cash equivalents of £5.97m. We have prepared cash flow forecasts and considered the cash flow requirement for the
Group for the next three years including the period 12 months from the date of approval of the consolidated financial statements. These
forecasts show that further financing will be required before the fourth quarter of 2024 assuming, inter alia, that certain development
programs and other operating activities continue as currently planned. If the Company does not secure additional funding before the fourth quarter of 2024, it will no longer
be a going concern and would likely be placed in Administration.

Our forecast of the
period of time through which our financial resources will be adequate to support our operations is a forward-looking statement and involves
risks and uncertainties, and actual results could vary as a result of a number of factors, including the timing of clinical trials. We
have based this estimate on assumptions that may prove to be wrong, and we could utilize our available capital resources sooner than we
currently expect. If we lack sufficient capital to expand our operations or otherwise capitalize on our business opportunities, our business,
financial condition and results of operations could be materially adversely affected.

If we raise additional
funds through the issuance of debt securities or additional equity securities, it could result in dilution to our existing shareholders,
increased fixed payment obligations and these securities may have rights senior to those of our ordinary shares (including the ADSs) and
could contain covenants that would restrict our operations and potentially impair our competitiveness, such as limitations on our ability
to incur additional debt, limitations on our ability to acquire, sell or license intellectual property rights and other operating restrictions
that could adversely impact our ability to conduct our business. Any of these events could significantly harm our business, financial
condition and prospects.

| F-32 |

| 1 | Accounting policies (continued) |

Going concern (continued)

In our opinion, the
environment for financing of small and micro-cap biotech companies remains challenging. While this may present acquisition and/or merger
opportunities with other companies with limited or no access to financing, as noted above, any attendant financings by Biodexa are likely
to be dilutive. We continue to evaluate financing options, including those connected to acquisitions and/or mergers, potentially available
to the Group. Any alternatives considered are contingent upon the agreement of counterparties and accordingly, there can