Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 379

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 379
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 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.

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.

| F-41 |

| 3 | Revenue |

Revenue from contracts
with customers

Geographical analysis
of revenue by destination of customer

| Schedule of revenue by geographical analysis |     |            |     |            |     |            |
|                                              |     | 2023 £’000 |     | 2022 £’000 |     | 2021 £’000 |
| Revenue:                                     |     |            |     |            |     |            |
| Belgium                                      |     |        381 |     |        699 |     |        578 |
|                                              |     |        381 |     |        699 |     |