An Enterprise Management Incentive scheme is in place under which employees are granted options over the shares of Biohm Ltd. The options are granted with a fixed exercise price, vest over four years and expire ten years after the date of the grant. Employees are required to remain in employment with the company, except where exemptions are approved by the board. The company granted options once in May 2021.
2023: 2024:
No. Weighted average No. Weighted average
exercise price £ exercise price £
Outstanding at the beginning of the period 50,000 0.000001 38,000 0.000001
Outstanding at the end of the period 38,000 0.000001 18,000 0.000001
Exercisable at the end of the period 0 0
The total share-based payment expenses in the year are Nil (2023: Nil)
12. Going concern
At the balance sheet date net assets were £612,387 (2023: net liabilities £1,464,661).
The directors have confirmed that amounts due to them will not be repaid until the company is in a financial position to do so.
Based on cash flow projections the directors have a reasonable expectation that the company has adequate financial resources to continue in operational existence for the foreseeable future and consequently the financial statements have been prepared on the going concern basis.