Company: BDRX
Filing Date: 2025-01-17
Form Type: F-1
Source: 0001214659-25-000922
Chunk: 38

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-17
Form: F-1
Chunk 38
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 Silicon Valley Bank. If other banks and financial institutions enter receivership or become insolvent in the future in response
to financial conditions affecting the banking system and financial markets, our ability to access our existing cash, cash equivalents
and investments may be threatened and could have a material adverse effect on our business and financial condition.

If a lack of available capital
means that we are unable to expand our operations or otherwise capitalize on our business opportunities, our business, financial condition
and results of operations could be materially adversely affected.

| 19 |

In previous years, we and our independent registered public accounting firm have identified material weaknesses in our internal control over financial reporting. Any failure by us to maintain an effective system of internal controls or provide reliable financial and other information in the future, may cause investors to lose confidence in our financial statements and SEC filings and the market price of our securities may be materially and adversely affected.

The Sarbanes-Oxley Act of
2002, or the Sarbanes-Oxley Act, requires, among other things, that we maintain effective internal controls for financial reporting and
disclosure controls and procedures. We are required, under Section 404 of the Sarbanes-Oxley Act, to furnish a report by management on,
among other things, the effectiveness of our internal control over financial reporting. This assessment includes disclosures of any material
weaknesses identified by management in its internal control over financial reporting.

A material weakness is a control
deficiency, or combination of control deficiencies, in internal control over financial reporting that results in more than a reasonable
possibility that a material misstatement of annual or interim financial statements will not be prevented or detected on a timely basis.
Section 404 of the Sarbanes-Oxley Act also generally requires an attestation from our independent registered public accounting firm on
the effectiveness of our internal control over financial reporting. However, for as long as we remain a non-accelerated filer, we are
not required to comply with the independent registered public accounting firm attestation requirement.

In previous years, we and
our independent registered public accounting firm have identified material weaknesses in our internal controls over financial reporting.
Although we have instituted remedial measures to address the material weaknesses identified and to continually review and evaluate our
internal control systems to allow management to report on the sufficiency of our internal control over financial reporting, we cannot
assure you that we will not discover additional weaknesses in our internal control over financial reporting. Any such additional weaknesses
or failure to adequately