Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 366

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 366
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 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 be no assurance
that any alternative courses of action to finance the Company would be successful.

This requirement for
additional financing in the short term represents a material uncertainty that may cast significant doubt upon the Group and Parent Company’s
ability to continue as a going concern. Should it become evident in the future that there are no realistic financing options available
to the Company which are actionable before its cash resources run out then the Company will no longer be a going concern. In such circumstances,
we would no longer be able to prepare financial statements under paragraph 25 of IAS 1. Instead, the financial statements would be prepared
on a liquidation basis and assets would be stated at net realizable value and all liabilities would be accelerated to current liabilities.

Revenue

Revenue is accounted
for in line with principles of IFRS 15 ‘Revenue from contracts with customers.

Supply of Research and Development Services

Revenue from the supply
of services is subject to specific agreement. This is recognised over the contract term, proportionate to the progress in overall satisfaction
of the performance obligations (the services performed by the Group), measured by cost incurred to date out of total estimate of costs.
The primary input of substantially all work performed under these arrangements is labour. There is normally a direct relationship between
costs incurred and the proportion of the contract performed to date.

Where the Group supplies
services to a client it generally bills an agreed percentage in advance of the commencement of any work and the balance on completion.
Invoices to clients are payable under normal commercial terms.

Grant revenue

Where grant income is
received, which is not a direct