Business
Interim Report for the six-months to 30 Septemb...
Interim Report for the six-months to 30 Septemb....
About this update from Edx Medical Group Plc
[{"type":"text","content":"\n \n EDX Medical Group Plc\n (“EDX Medical” or the “Company\")\n Interim Management Report for the six-month period ending 30 September 2022\n Background\n EDX Medical Group Plc was admitted to the Access Segment of the AQSE Growth Market on 26 October 2022. Admission followed the acquisition by TECC Capital Plc of the issued share capital of EDX Medical Ltd (“EDXM”) - a digital diagnostics business in the healthcare sector with an experienced leadership team.\n The acquisition presented the Company and its shareholders with an exciting opportunity to invest in a new and disruptive healthcare diagnostics business with significant potential. The subsequent Reverse Takeover provided the enlarged group with the potential to raise further capital as well as allowing the Company to be renamed as EDX Medical Group plc so reflecting the business of the enlarged group.\n EDX Medical develops and validates digitally enabled diagnostic products and services to help health professionals and self-users to predict disease risk, inform clinical decision-making and accelerate the development of new medicines in the areas of cancer, heart disease, neuro-degeneration and infectious diseases. The Company was founded by Professor Sir Christopher Evans OBE, a medical and life sciences entrepreneur with more than 30 years of experience in the sector, specialising in cancer treatments and diagnostics.\n In this reporting period, the Company entered into convertible loan notes with EDXM to the value of £600,000 whilst conducting further due diligence on EDXM in preparation for its planned Reverse Takeover.\n As a result, the shares of the Company were suspended from trading for the period from 26 July until the Reverse Takeover by EDX Medical Ltd was eventually completed after the reporting period, by a unanimous shareholder resolution at a General Meeting of Shareholders on November 11th.\n Financial Summary\n During the period the majority of the Company’s administrative expenditure has related to one-off expenses incurred in connection with preparing the Company to complete the Reverse Takeover of EDXM and Admission of the enlarged Group to the Access Segment of the AQUIS Exchange. The loss for the period was £193,659 (2021: £124,187).\n Trade and other receivables as at 30 September 2022 were £43,255 (March 2022: £8,068), of which a significant p...