Rex Bionics (#RXB) – shares suspended following bailout of business, expected to be cancelled

Rex Bionics – from 180p to 10p in less than 3 years, but expresses ‘delight’ & thanks shareholders and resigning Nomad Stifel!

A “Restructuring and New Investment” announcement from Rex Bionics (RXB) sees Chief Executive Crispin Simon “delighted that the alternative options we have been pursuing have borne fruit” and Chairman David Macfarlane “warmly thank our shareholders, who have made this possible. I would also like to take this opportunity to thank our nominated adviser, Stifel, for its unstinting support over the past three years”. Sounds a good outcome then, strange though as I previously noted the company approaching a transaction from the perspective of going-concern desperation. Hmmm…

Rex Bionics – “Funding and strategic review update” – heading for a de-listing?... or worse?

Having previously concluded with shares in Rex Bionics (RXB) at circa 70p HERE, 43.5p HERE and 32.5p HERE, that, although a type of business you want to succeed, some way from being able to prove its commerciality and cash burn concerns until it gets there, the shares don’t look to appeal as an investment, I note they currently at 13p and an update including that “the company estimates that it will likely need external funding by the end of April 2017 in order to remain as a going concern”. Uh oh…

Rex Bionics (#RXB) will run out of cash in 6 weeks, may get funding but delist - a mess

Rex Bionics – results statement notes “a number of important milestones”, but what about the financials?

Robot technology to enhance the mobility of wheelchair users-focused Rex Bionics (RXB) has announced results for its year ended 31st March 2016 and that this “has been a period of broad progress across all areas, and we are pleased to be able to report to shareholders on the achievement of a number of important milestones during the period”. Hmmm…

Rex Bionics (#RXB) – adjourns GM as Chinese fundraising subscriber delayed in obtaining approval

Rex Bionics – trading update, any improvement from a business you’d want to succeed?

Following a trading warning that saw shares in Rex Bionics (RXB) fall to around 70p in late 2014, I concluded that this is a type of company you want to succeed but, with it looking to be some way from being able to prove its commerciality and cashburn concerns until it gets there, the shares didn’t look to appeal as an investment – see HERE. With the shares now at 43.5p, the following updates post a trading statement today that the company “is pleased to provide”…

Rex Bionics – a business you’d want to succeed, but to own the shares?

Robotic technology that enhances the mobility of wheel-chair users-focused, Rex Bionics (RXB) has updated that “sales are currently materially behind market expectations” and “in the period ending 31 March 2015 will be only a nominal amount”. However, with the company now set on generating “as rapidly as possible the clinical data required to support the clinical and quality-of-life benefits that we believe REX can deliver”, is a near halving of the share price currently today, to circa 70p, overdone?

Rex Bionics (#RXB) - sugar coated but disastrous trading update