Company: BDRX
Filing Date: 2025-01-28
Form Type: 424B3
Source: 0001214659-25-001409
Chunk: 131

Company: Biodexa Pharmaceuticals Plc
Filing Date: 2025-01-28
Form: 424B3
Chunk 131
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 which contemplates the realization of assets and
the satisfaction of liabilities in the normal course of business.

As
at June 30, 2024, we had cash and cash equivalents of £5.06 million. We forecast we currently has enough cash to fund its planned
operations into the first quarter of 2025. If we do not secure additional funding before the first quarter of 2025, we will no longer
be a going concern and would likely be placed in Administration.

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 this interim financial information. These forecasts show that further financing will be required
before the first quarter of 2025 assuming, inter alia, that certain development programs and other operating activities continue as currently
planned. 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 Depositary Shares) 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.

Our Depositary Shares are currently listed on the NASDAQ Capital Market. We are required to meet certain qualitative and financial tests to maintain the listing of the Depositary Shares on the NASDAQ Capital Market. On August 27, 2024, we received aLetter from the Listing
Qualifications Department of NASDAQ, notifying us of the Staff’s determination to delist our securities from the NASDAQ Capital
Market because our securities had not complied with the Minimum Bid Price Requirement. Normally, a company would be afforded a 180-calendar
day period to demonstrate compliance with the Minimum Bid Price Requirement. However, pursuant to NASDAQ Listing Rule 5810(c)(3)(A)(iv),
we were not eligible for any compliance period specified in Rule 5810(c)(3)(A) because we effected reverse stock splits over the prior
two-year period with a cumulative ratio of 250 shares or more to one. Accordingly, and as described in the Letter, unless we timely requested
a hearing before the Panel, our securities would be