Today Medpal AI (MPAL) reports another very strong update on revenue growth but… there is always a but when the Drummonds are involved.
I cannot get excited about Medpal AI (MPAL) even after its placing to raise £5 million at 5p. There are five reasons for thus and though I’d like to be nice to my pal the evil PR genius Councillor Bick as he considers the waning fortunes of Reform UK, I just cannot overcome them. The shares are now 6.05p giving a market cap of £53 million, I suspect that is closer to £60 million fully diluted with all the in-the-money options management have awarded themselves. So here goes.
A Non Executive Director is meant to be a person of independent means and integrity who will hold executive directors to account. What is Jason Drummond, advised by evil PR genius Councillor Bick thinking as Medpal AI (MPAL) has just hired a new NED. Even the great Councillor Bick cannot polish this turd.
On 7 September MedPal AI (MPAL) issued a RNS announcing some very strong revenue growth. But aren’t sales just vanity, what about cash?
Medpal AI (MPAL) has issued a strong update on revenues up from zero 9 months ago to an annualised run rate of £8.6 million which itself was up 70% in two months. This is a very prompt update on July revenues but reflects the nature of the business.
When the Drummond Brothers first launched MedPal AI (MPAL) onto the AIM Market, I was highly sceptical about its valuation and prospects. Initially MedPal performed strongly reaching a high of 13.5 pence on 4 September 2025 on initial enthusiasm for AI linked plays. Reality in the form of reported and a number of fund raises resulted in its share price dropping below IPO price to as low as 2.225 pence per share in May 2026. The price has since risen to a mid price of 3.50 pence. So my bear call into the huff and puff generated by evil PR genius Councillor Bick has been vindicated. But…
MedPal AI (MPAL) interim results for the six months to 28 February 2026 showed revenue of £1,603,943 at a gross margin of 22%. After administrative cost of £3,427,902) and other items the pre-tax loss was £3,457,314. Pretty much pat for the course for a Drummond Bros company you might say.
The pump phase started on 7th April when MedPal (MPAL) issued a positive pharmacy operational update, followed on 8 April by an announcement of the “launch of MedPal Heath OS” and an “Updated Research Note”. The author of that note at paid for researchers Optimo was, the wretched Richard “Gollum” Gill, AIM shit of the year 2012-2025 and the frunt runner to retain his title in 2026. Today MedPal delivered the dump with a placing of 120 million shares at 2.5 pence per share”. The placing was at “a discount of approximately 13%. to the closing mid-market price of 2.8 pence per Ordinary Share on 16 April 2026”.
At 4.32 pm on Friday, after trading hours, MedPal AI (MPAL) released its final audited results for the year to August 31 2025. As you might expect, with a company that releases its results after the market has closed on the last day when it is required to publish its results they were dire.
There is another nothingburger of an RNS out from MedPal AI (MPAL) today. Evil Pr genius Councillor Bick has served up a lot of phooey about becoming a vertically integrated healthcare provider. Whatever…
Crazy Meg at Bloomberg reckons that because the Drummond Brothers bought two tickets to last year’s Sharestock I’ve stopped being beastly about them. She clearly has not read all my exposes about Medpal AI (MPAL). So here’s another!
Medpal AI (MPAL) keeps publishing ramptastic statements but that is because it is a Drummond Brothers stock promotion. It has an ATM death spiral to feed with hype to fund its cash guzzle.
