Company: BDRX
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001214659-25-005742
Chunk: 86

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-04-11
Form: 20-F
Item: Item 19
Chunk 86
---
 £’000  
 ─────────────────────────────────────────────────────────────────────────────────────
  Loss before tax                                 25                 ( 1             
  Total equity                                    25                 ( 1             

Liquidity risk

Liquidity risk arises from the Group’s
management of working capital. It is the risk that the Group will encounter difficulty in meeting its financial obligations as they fall
due. It is the Group’s aim to settle balances as they become due.

In May 2024, the Company completed a
Warrant Inducement which raised £4.8million before expenses. In July 2024, the Company completed a Registered Direct Offering in
the US which raised £3.9million before expenses. During the year warrants previously issued were exercised resulting in the Company
receiving £0.4million.

In December 2024 the Company issued
a Promissory Note as detailed in Note 17 for the principle amount of $600,000. The Company received $540,000on 24 December 2024 as the
note was issued at a 10% discount.

In February 2023, the Company completed
a Private Placement in the US which raised £5.0 million before expenses. In May 2023, the Company completed a Registered Direct
Offering in the US which raised £2.7 million before expenses. In December 2023, the Company completed a Registered Offering in the
US which raised £4.4 million before expenses.

In December 2022, the Company completed
a Registered Direct Offering in the US which raised £0.3 million before expenses.

The Directors 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 Q4 2025 assuming,
inter alia, that certain development programs and other operating activities continue as currently planned. Pursuant to its $35 million
Equity Line of Credit, or ELOC, as described above, the Company may direct C/M to purchase ADSs (subject to certain limitations) and receive
proceeds in accordance with a formula price for up to 36 months from the Commencement Date. There is no guarantee that the Company will
be able to use the ELOC to the extent necessary to finance the Company’s operations.

In the Directors’ opinion, the
environment for financing of