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HaloSource – expected Astrea launch in USA… but how’s this Woodford dog's cash position?

By Steve Moore | Wednesday 14 February 2018

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, at the end of 2017, on HaloSource (HALO) it was a trading warning before a latest bailout from Woodford & co even approved. Today sees a further 2018 announcement from the company…

Further as last month it particularly announced the passing of resolutions at its AGM – including seeing 225,034,812 new shares admitted to AIM, and “first commercial production of its new heavy metal reduction media, HaloPure Adsorption Composite”. The latest announcement is Astrea Launches in USA with Indiegogo Campaign.

This notes aging infrastructure having left water systems exposed to lead and that its ‘astrea’ brand “bottle is designed to be the world's most effective daily-use filtering water bottle, tested to remove lead to the highest National Sanitation Foundation standard - NSF 53”. It is expected to launch via a campaign on crowdfunding platform Indiegogo in March.

At this stage, it’s further updates to follow, though the above again points to tight financials here - 2017 now anticipated to show a net loss “in the range of $5.0 to $5.5 million” and it having been cash crunch ahoy before the noted new equity (at 1.25p per share), raising £2.8 million ($3.8 million). That including a further more than £0.7 million from Woodford Investment Management.

That’s a warning in itself at present and, at least until there’s progress to a sustainable cash situation, the stance remains sell / bargepole.

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