v3.25.1
Consolidated Statements of Cash Flows
$ in Millions
12 Months Ended
Dec. 31, 2024
GBP (£)
Dec. 31, 2023
GBP (£)
Dec. 31, 2022
GBP (£)
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net loss £ (12,154,030) £ (5,906,953) £ (1,313,601)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 383,587 596,726 714,550
Amortization of intangible assets 50,682 36,282 55,046
Write-off intangible assets 127,139
Share-based compensation expense 1,013,788 444,459 1,123,250
Loss on modification of convertible loan 645,845 140,344
Change in fair value of derivative liability (13,437) (8,052,581) (16,064,945)
Net foreign exchange loss 51,801 80,070 120,974
Noncash interest expense 71,568 6,628,406
Loss on disposal of property, plant and equipment, net 8,646
Changes in operating assets and liabilities:      
Change in corporation tax receivable 391,622 676,407 (312,801)
Change in prepaid expenses and other current assets (1,712,310) (1,275,269) (37,503)
Change in operating lease right of use assets 207,953 189,505 196,577
Change in accounts payable and accrued liabilities (612,409) 2,272,782 (1,944,557)
Change in lease liabilities (301,674) (323,711) (762,150)
Change in deferred income (3,844,533)
Net cash used in operating activities (12,567,288) (10,544,870) (15,292,297)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Purchase of property, plant, and equipment (63,600) (110,353) (240,712)
Disposal of property, plant, and equipment 55,000
Purchase of intangible assets (28,914) (98,436) (124,485)
Net cash used in investing activities (92,514) (208,789) (310,197)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of convertible loan, net of issuance costs 18,110
Repayment of convertible loan (2,632,324)
Proceeds from exercise of warrants 11,084,447
Proceeds from sale of warrants 5,127,260 18,806,153
Issuance costs in connection with exercise of warrants (411,536) (793,746) (908,602)
Issuance of ordinary shares 819,635 4,186,862 3,369,877
Issuance costs in connection with issuance of ordinary shares (27,912)
Net cash provided by financing activities 11,464,634 8,520,376 18,653,214
Foreign exchange (loss) gain on cash and cash equivalents (51,801) (112,168) 190,652
NET CHANGE IN CASH (1,246,969) (2,345,451) 3,241,372
Cash - Beginning of period 2,462,609 4,808,060 1,566,688
Cash - End of period 1,215,640 2,462,609 £ 4,808,060
Supplemental disclosures of non-cash financing activity      
Stock dividend £ 55,933  

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