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NextGen Group

  • BY: Andrew Hore |
  • POSTED: 02/12/2010 |

Biomarker testing services provider NextGen is raising €200,000 from a convertible loan.

Alpha 4 Concepts GmbH is lending the money which attracts an annual interest rate of 12%. On top of that nanotecquity will receive a monitoring fee of €2,000 a month during the period of the loan, which is repayable on seven days’ notice.

The loan is convertible at 0.1p a share with one warrant attached to each share. The shares are trading at 0.06p each, which values NextGen at £3.79m.

NextGen had net debt of $256,000 at the end of June 2010. There was a cash outflow from operations of $1.29m in the six months to June 2010.

Cash inflows are unpredictable but the launch of the company’s own assays should help it to improve revenues - $709,000 in the first half of 2010.

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