Deltex Medical Group – argues “made good progress during FY24”. Er, so now proposed AIM cancellation?

Most recently writing on Deltex Medical Group (DEMG), in July with the shares down to 0.15p I concluded it looked like much more than customer “interest”, trials and demonstrations and small orders were going to be required and to still avoid/sell. The shares most recently closed at 0.08p and now an update the group commences with that it “made good progress during FY24 as can be seen from, among other things, the year-on-year increase in revenues”. So why a currently further slumping share price?

Deltex Medical Group – “Half-year Trading Update”, what about the overall balance sheet position that dare not speak its name?!

Medical technology group Deltex Medical (DEMG) has issued a “trading update” including highlighting “EBITDA positive for two months during H1 2024; continuing improvement in EBITDA expected in the second half of the current financial year ending 31 December 2024”. So what of a current share price response down more than 9% to 0.15p?

Deltex Medical Group – how ‘pleasing’ really is the “update on commercial progress and board changes”?…

Deltex Medical Group (DEMG) states that it “is pleased to provide an update on commercial progress and board changes, including the appointment of a new non-executive director”. But what of a share price currently more than 19% higher at 0.19p in response?

Deltex Medical – interims, emphasises EBITDA… but it’s currently only a target and is bullshit earnings!

Writing on Deltex Medical Group (DEMG) with the shares crashing towards 0.20p last month I noted it will be interesting to see just how dire the latest half-year position was and questioned will the latest funds really be sufficient to implement a growth strategy delivering net cash generation. So what of the now-announced results for the first half of the 2023 calendar year?

Deltex Medical – “pleased to announce” fundraising completion. How ‘pleasing’ for shareholders though?!

The board of Deltex Medical Group (DEMG) states that it “is pleased to announce the completion of the fundraising and capital reorganisation… trading in the company's ordinary shares… has now resumed on AIM”. Good news then?

Deltex Medical – “exploring an equity fundraise to provide the necessary working capital”. Er, it means to keep the lights on!

Describing itself as “the global leader in oesophageal Doppler monitoring”, Deltex Medical Group (DEMG) has issued an update including that its “next generation TrueVue monitor has completed all required internal and external testing, with the finalisation of the technical file expected imminently to enable launch of the product” and that it “is currently exploring an equity fundraise to provide the necessary working capital”. So what’s the overall outlook from here?

Deltex Medical (#DEMG) – H1 cash down to £0.1m, “exploring” equity fundraise but shares currently remain suspended

Deltex Medical – needs further funding within next 3 weeks!, shares suspended and hopefully my prior warnings were heeded

Previously writing on group which described itself as “the global leader in oesophageal doppler monitoring” Deltex Medical (DEMG), in February I wrote convertible loan notes extension, but still cash concerns? – including having already noted a £0.25 million extension to a £0.5 million loan facility from Chairman Nigel Keen, I questioned how’s the overall financial position now? and that I retained cash concern. Now a “Trading update and suspension of trading on AIM” announcement I suggest isn’t going to be good news!…

Deltex Medical (#DEMG) – shares suspended, ‘exploring’ finance options but so far unsuccessful and “need for additional funding by mid-July”

Deltex Medical – convertible loan notes extension, but still cash concerns?

Medical technology group Deltex (DEMG) “is pleased to announce that the repayment date of the £1.1 million convertible loan notes in the company has been extended from 26 February 2024 to 30 June 2026”. Good news from a 1.15p share price, £8 million market capitalisation?

Deltex Medical – “year end trading update”. Er, what about the debt?!

Medical technology group Deltex (DEMG) states that it “is pleased to provide a trading update following the close of the financial year ended 31 December 2022” and that development “good progress” and “work on securing a small number of substantial orders within its International division” is continuing. So what of this and a current approaching 4% higher share price response to 1.35p?

Deltex Medical – “pleased to announce” year end update. Er, what about the “increased cash requirements”?!

Deltex Medical Group (DEMG) states that it “is pleased to announce that its year-to-date revenues are ahead of the group's full year 2021 revenue figures. In addition, the group has a large advanced opportunity in the pipeline which if successful, could provide a further boost to revenue in the short term”. What of this and the rest of a “Year end update” with the shares currently more than 19% up at 0.925p?

Deltex Medical – interims emphasise “returns to growth”. Er, what about the balance sheet woes?!

Previously writing on medical monitoring technology group Deltex Medical (DEMG), in July with the shares down to 1.10p I wrote emphasises higher revenue, but how’s the balance sheet?!. What of now results for the first half of 2022 and a 0.925p share price?

Deltex Medical – emphasises higher revenue, but how’s the balance sheet?!

Medical monitoring technology group Deltex Medical (DEMG) has issued a half-year trading update including “revenues for the six months ended 30 June 2022 increased approximately 9%” and that it expects to drive higher revenues. So what of a share price currently down more than 4% to 1.10p in response?

Deltex Medical Group – AGM statement, does trading remain a challenge?...

Medical technology group Deltex (DEMG) has updated on its AGM that “there are encouraging signs that the group's revenues in the UK and USA are beginning to recover”. So what of a current 1.10p share price?...

Deltex Medical – 2021 results, my cash flow concerns justified?...

Previously writing on Deltex Medical Group (DEMG), in February I concluded cash flow concerns meant, at least ahead of further results insight, I continued to avoid. It has now announced 2021 results.

Deltex Medical – I having previously questioned ‘how’s the balance sheet now?’, a discounted fundraising...

Deltex Medical (DEMG) has announced that “the board has concluded that it is now appropriate to raise a total of approximately £1.4 million… at a price of 1.25 pence per Deltex Medical ordinary share… (i) to launch, market and commercialise the next generation TrueVue monitor as well as a new non-invasive Doppler probe; (ii) to provide the financial resources required to support the substantial grant funding already won… and (iii) for the general working capital needs of the business”. Really?...

Deltex Medical – argues “a key opportunity”… but how’s the balance sheet now?

Haemodynamic monitoring technologies group Deltex Medical (DEMG) has made a “Pre-close statement”, noting that despite pandemic disruptions for the whole of the year this time, “revenues for the year ended 31 December 2021 were £2.3 million (2020: £2.4 million)” and belief that the backlog in elective surgery “represents a key opportunity for Deltex Medical as the group's TrueVue Doppler technology can be used to help minimise patient length of stay (and associated costs) following elective surgery and hence increase capacity for hospitals”. With also a ‘next generation’ TrueVue monitor due for release later this year, why a current share price fall to 1.25p?...

Deltex Medical (#DEMG) – “disappointing” 2017 trading, cash down to £0.2m!

Deltex Med Grp (#DEMG) – HY sales to be flat at c. £2.7m, cash £0.95m