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I hate to say this but reading this looks exactly the case, another rise on speculation and now back down. I hope it all comes good but its hard to say really
If it's as bad as you make out why did you buy in the first place, appreciate your concern but my money my risk.
Happy to the sheep leave.
Hate to do this to y'all but this has been yet another pump and dump exercise using CTEA as the football. Due to the management's lack of interaction or even interest in Pi's, the rumour mongers can flourish.
Here are some alternative points to consider:
The company has not managed to secure any confirmed sales since it finished the app back in the early summer. It has announced a couple of JV's but these are heavily caveated that they may not lead to revenue.
BHA does not appear to have exclusive distribution of the Healgen test in the UK, only the Antai triple antibody test. (Read the BHA website carefully. They are only promoting and selling the Antai test, but they can (like others) supply the Healgen test)
Any covid passport app can only tell you the status of that individual when they were last tested. Due to the highly infectious nature of Covid, this is not much use to the general public. In the scenarios where it is of use (e.g. airlines) CTEA have had no sales.
CTEA have very few employees (4?) and don't own the bulk of the IP.
The Tweet from William the Conqueror that kicked off the rise (E-mail from BHA about sales) is HIGHLY suspect. (Jpeg artifacts on signature but not on text)
Check the dates on the recent RNS's and ask yourself if you can invest in a company that has produced so little information for its investors in a fast-moving market such as Covid.
There are some positives - its a good idea in the long term for non-covid uses. It has its uses in corporate scenarios. Personally the management team have shown no ability to move fast, capitalise on opportunities or treat PI's well. I got out a while ago. Please do your own research. My motives are just to stop people losing more money than they already have.
Love it when a plan comes together...
@Magzy No reply from the company as of yet. Disappointing from an investors perspective. Although I hope I will receive a reply today.
I would like to top up, but will need confirmation of their finances from the company themselves. I would be upset if a placing does occur, as they could have given us holders the option to participate in this, however I do not think it will impact the SP much, especially with the fundamentals to hand.
Good luck and please keep me updated if you get a response yourself.
Natham, a week ago you were shouting pump & dump were you not. That would have been an attempt at the time to lower the SP, imo. You have clearly bought in since and ‘turned’ positive. A dangerous poster imo. If you read my posting history you will clearly see my belief in the potential of the company, especially due to Brexit, and not just Covid specific. There are too many posters that spout nonsense on these boards, of which I believe you are one. Investors should be able to engage in sensible conversation and discuss a companies potential, short term / mid / and long term. I have stated my beliefs short term and happy to discuss in sensible conversation. ....... unfortunately you clearly don’t have the capacity and prefer to throw childish accusations around. Successful investing is having an open mind, willing to change opinion on current situation and not forgetting how sentiment can have such an affect. No need to reply if looking for engagement with me.
Bigbaddaz - stop deramping. You know full well there is huge upside here. Investors aren't just here solely for NHS contract. A couple big contracts with FTSE 100 companies, foreign governments, and much more will raise the SP.
I think youre just upset you didn't get in early enough but that's my personal opinion on the matter
Buys popping up under 3.8 accumulating in progress...5/10 bagger would be stunning.
Giggard,
Investors have been warned, hold tight for the potential in front of us :-)
Important that new investors realise it's not just about the physical test. CTEA's COV-ID app can deliver results of a test to a persons device, allowing them to prove they are "COVID-free" with a "passport type" ID system allowing people access to events, flights, workplace, shops, supermarkets, your home, etc...
https://www.proactiveinvestors.co.uk/companies/news/922359/catenae-innovation-focused-on-commercialising-cov-id-app-after-positive-proof-of-concept-trial-922359.html
This could/should be key to opening up the country again....a huge opportunity...
May I just add for clarity, I believe CTEA has a bright future, and the system they have with the JV with BHA could do very well. Unfortunately the recent rise, which has been quite considerably, was based on an imminent U.K. government contract. It appears there will not be one imminently and this in turn will, imo, give good reason for sellers who bought in on the hope of such a contract. I believe because of this sentiment will soon change here which will have a negative effect on the SP
Good morning Weathergeek, i agree wholeheartedly the U.K. government will not be able to meet the target of 10m tests a day by being supplied by one company. I am of the opinion, as are you, that more than one companies product is needed to achieve mass roll out quickly. However, to date the U.K. government hasn’t hit any of the targets which they themselves have set, and unfortunately I do not see an immediate change. There have been many decisions the government have made that didn’t align with ‘common sense’ imo. 10m tests a day will not be hit this year imo.
All about that low market cap.. And a few hints..
Vest shares..
“The options vest if the Company's 30-day volume weighted average share price is above the Vesting Criteria for a period of 15 consecutive calendar days as set out in the table below.”
https://www.lse.co.uk/rns/CTEA/change-of-director-role-and-grant-of-options-w27wmud2m5ak09p.html
Directors have vest shares all the way to 50p. Not only that, the price must hold for a continuous period of time.
Guy Meyer
6.578m at 10p
2m at 20p
1m at 30p
1m at 40p
1m at 50p
John Farthing
2.3m at 10p
700k at 20p
350k at 30p
350k at 40p
350k at 50p
One of CTEA’s creditors has recently taken shares as payment instead of the £12.5k owed. Wonder why they would do that..
https://www.lse.co.uk/rns/CTEA/creditor-share-conversion-and-notice-of-agm-7ynfcycnrrbch55.html
With market cap under £9 million and very few shares we have eenormous potential IMO "Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology, announces that it has signed a 50/50 Joint Venture agreement ("JV") through Onside Now Limited, the joint venture entity, with BHA-Medical Limited and BHA-Medical (Pty) Limited, respectively UK and South African entities of the medical equipment supply company, Blackhive Africa Medical ("BHA-Medical"), to deliver an integrated Covid-19 'Test, Monitor, Manage Programme' which has the potential for use and deployment by governments, businesses and organisations.
To date BHA-Medical has supplied approximately 350,000 CE-certified Covid-19 Near-Patient Three-Antibody Tests to businesses within the UK, including to two FTSE 100 companies.
Always the way, collecting sells when they drop. Not interested in buyers. Once from -11% to -6% they will probably let you buy.
Anyone who thinks these guys are sat around twiddling their thumbs - this is one off the last covid plays undervalued.
simple - one sniff of a major order and this 10 bags
Tried to buy some earlier under 3.7 went straight to NT - waiting to top up
BigBad, How are the government going to achieve 10m tests a day by going with "one" manufacturer.
People are always so impatient, CTEA have the whole system. Just you await those contract news flows. Day traders might have sold but investors haven't.
If investors understood the fundamentals of the company, you'd know that yes its a massive Covid player, but that its app can be utilised across so many other platforms and diseases.
There's a reason the senior management have such high share warrants up to 50p.
Todays drop is likely from investors who tried to cash in the past two days with little or no information and research on the company.
Hold strong, or top up even. This is still going to be a multibagger
GLA
Selling due to news that the U.K. government has chosen to use the Innova test system ......... unfortunately this has no connection to CTEA / BHA.
Recent buys the past week or so due to hope the U.K. Governments mass roll out of track and trace may result in a contract for CTEA ...... hopes of this now fading sadly.
SP was 2.2 - 2.3 before the recent rise, can see this dropping back to those levels now, only reason SP rose so strongly the past week due to hope of a government contract .
The plan is to increase to 10m tests a day. More than one manufacturer will be used. COV-ID isn't Innova's. CTEA have a whole package. The complete solution. Do you not think it would be stupid of the government not to? Its on the shortlist for a reason.
Fear not people, the US election will have a large impact on all shares today and all markets.
Hold strong, keep us above the 4p mark and watch this grow
GLA
Why the sales today? Does not seem to be as much interest as recently.
what company is the distributor for the Innova ?