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Biome Technologies – after I warned bailout funding to be needed in a challenging financing environment, now the proposed mega-dilution…

By Steve Moore | Friday 16 August 2024


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Previously writing on company describing itself as “a leading bioplastics and radio frequency technology business” Biome Technologies (BIOM), last month with the shares further down to around 40p I wrote ‘hopefully my prior warnings were heeded as now having to ‘examine ways’ to have “sufficient working capital”. Er, what about the ongoing losses?’, concluding in a currently still challenging financing environment, at what price that? and, natch, currently still a sell. Today “trading update” and “fundraise” announcements – and the shares currently crashing further lower to just 12.5p!

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