DILUTION THREAD, perhaps?
2p placing October 2011
Not surprising the sp struggles, after this Placing - something like 17m shares . . . . OOOOh for earlier investors, recent spiked to 10p area....double Ouch.

EDIT: (14May2012):- And another Placing today; at 1.75p - Oh deary, under the 2p of just 6 Months ago.... but RNS suggests it's "oversubscribed" - well, there's a surprise! This will raise £2m with a further £10m finance facility via "Henderson" who are taking a 4.5% stake. The snag with these single finance deals IMHO, is the risk they want their money back quickly and call in their loan . . . Co goes belly-up and PI's a left with nothing. I'm not sure I trust this Management to be profitable since they have pipelines already - why doesn't that provide enough "expansion cash" - it's not as though shareholders are getting fat on Dividends.
Directors are singularly tight with their money - 2008 saw tiny inivestments like £20k (now halved.)....DYOR.

hangon - there are already several threads for SER.