The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
agreed only £1m of orders in a market thats becoming increasingly saturated and fatigued
@scart, agree. There are a lot of people discounting the RNS today and not understanding what's involved in delivering a diagnostic test to market. At the start of the pandemic tests were not available and regulators quickly passed tests through, good and bad. Now the process is a little more nuanced. That doesn't mean the market isn't there, indeed £1m of pre-orders in the short space of time is encouraging. In 6-12 months we will have a completely different picture about Genedrive potential and its POC test too. At the moment we are subject to the games people play.
I agree that today's RNS was just the start and I still believe that we will be heading £2+ at some point in the future. We started a little bit later than we would have hoped and I hope that this hasn't had too much of an impact on our maximum potential.
It's good to know that they have applied for India approval separately and are not relying on the FDA approval to cover it. Hopefully it comes through in the next couple of weeks!
Absolute F ing. JOKE!!!!
Truly screwed now.......
@jay or make it to the very last sentence...
"... our target markets combined with the unique aspects of the CoV-2 Test give us significant confidence in delivering successful commercial outcomes in the near future"
As the approvals start coming in, new orders will be placed and existing 'indicative' orders will be fulfilled. India, Africa and US are our target markets, do people really think we'll only be generating only a total of £1M... across all of those territories...? Today's RNS was just the start.
genedrive has now signed additional distribution contracts in respect of 11 countries to work non-exclusively alongside its existing distributor network
Nhs procurement process is on going.
Orders pending approval in africa.
Sales not yet forthcoming.
In the meantime many tests from other companies are being bought, 160 vaccines are continuing to being developed worldwide. Gdr is very, very slow out of the blocks.
Oh god, he knows that an indicative order is not a sale. He was just desperate to score a cheap point and didn’t mind looking stupid to achieve it.
Rollinginit, if you want to define an indicative order as a sale, and to add the £1m to Revenue, that's fine. But you must also then be prepared for the possibility for those sales to be subsequently refunded in the event that regulatory approval is not granted.
Though in practice, I imagine that GDR will achieve approval - maybe just not on the first attempt, and thus it may take some time for them to achieve it.
300-89p now and a few on this bb still trying to convince investors black is white get real i know the 2 who i would filter
I think this is what most people were expecting to be fair, if they had any significant orders previously they would of announced it.
Still some time to wait but plenty still to come in the pipeline.
Good luck for those that are staying, I'm still holding till at least October now
Okay wonderful, got you . That makes sense. Didn't consider the cartridges
@Fatboy97
It isn't just about the units, it's about the test cartridges as well. Think of those coffee maker machines they regularly sell at 50% off, the refill pods are where the money is at
Hey natham didn't they already confirm that contract is for like 500 genedrive units at like 500 quid each? Maybe I'm wrong about it but if so it's only 250k?. Please correct me lol
I think there is a lot that a lot of people are missing in this RNS. They are legally not allowed to over dress the contents and they have purely reported facts...
The Company has pathogen detection orders to fulfil for the US DoD and is confident of first half sales of both Genedrive® units and assays to this customer. As previously announced the expectation remains to sign a new contract with the US DoD in autumn 2020 and achieve new sales volumes following commencement of their new fiscal year.
I think people are overlooking this cash cow later this year...
That's my understanding too... Indicative orders are just interest, I don't think there is any commitment
It was all lies to raise money this will never recover
Dooomed
do what ever you want, I'm In long term!
You cannot sell a product without the approval and certification of both the dossier and manufacturing site, an order is not a sale in this case. JB
@Blusington, so to your point, we might as well sell then till and do something else with what's left of our capital till August, and come back then?
To be fair, 1M order ready before the regulatory approvals is actually pretty good. Of course with the approvals more orders will flow in... All in time I guess.
Teabiscuit
They have achieve sales. The moaners weren't correct at all.
'To date, the Company has received over GBP1.0m of indicative orders for the Genedrive(R) 96 SARS-CoV-2 test, but regulatory approvals are required to fulfil these orders and ship the product.'
If you take an order, it's a sale.
Clearly, you've never worked in a sales team.
teabuscuit why are you here? its not about first orders, how much will they have sold in 1 year from now?
good that people want the product! I expect news closer to home by end of july August!
So the 'moaners' were correct, they didnt achieve any sales in june, nor so far in july. They have agreements in place which is a start but that rush for the 8 million placing which destroyed shareholder confidence seems to have been just rushed to take advantage of the market at the time. They haven't used that money as of yet.
1 million of orders in pipeline is a start but the market is not impressed. Hopefully they can Fda and india approvals soon as they are massive markets that could be the transformation change this company needs. As for Africa, based on my previous experiences that is a minefield to get anything done quickly so for me its india and usa that the company has a chance with. The eu approval what a waste of time that was.