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@technik
Makes sense, I hope you're right. Truly do.
The lack of comms is the concern and many here are feeling it. I certainly dont want to be deciphering a pr companies response but that's about all we have to go on at this point.
@LP I think Paul's email is clear, they have not yet been given any instruction around sales from the Company and there are rules which mean when any price sensitive or material news is available the Company has a duty to notify the market. There is wriggle room in this, for example if the news is inside and there is an important RNS due (like the trading update) then the Company can wait for that RNS to include it if the timing is similar. I think simply this is what's happening. Time will tell all :)
@LP, at that point in time they had not been made aware of any by the Company in the same way they had not been made aware that DB had breakfast, thats not the same as saying he didn't have breakfast to keep DBs meal analogy alive
For once im going to stick up for LB,
He's a very angry man seeing his £500 quid go down the swanny, and he's blaming the negative sentiment on the bb for the price drop. Please back off.
Completely agree with that Technik. But at that point in time to the best of their knowledge there had been none.
The PR company is only in receipt of information that the company has given them, they can only say they have not been made aware of any sales yet, this is not the same as no sales or no contracts drawn up around sales. They'll know when they're asked to kept write or submit an RNS...
Ok lb28, it's on you then to prove that there have been sales since you are so convinced there is. The simple evidence of no sales rns is fact. Now it's on you to prove fact that there have been sales. Should be interesting to see what facts you have to prove there have been sales. Your feelings that there have been sales dont count. If we all feel there have already been sales then shareprice would be a lot higher. So prove it, prove there have been sales already...
You’re right they haven’t said no sales.
They have confirmed when they would release news and you can deduce from that, that there’s no sales.
Do you want my bank details or PayPal mate?
LB - focus on the 2nd to last paragraph. 'First commercial sales then we would announce this right away'
We are engaged to provide media relations and investor relations support to genedrive and ongoing communications is very much driven by future newsflow in terms of commercial traction. The timing of local registration requirements / regulatory approvals and commercial sales cannot be fixed by the Company as there are many moving parts to the process but David and his colleagues are working hard to deliver these first commercial sales and looks forward to communicating progress to shareholders in due course.
The Company normally provides an update following the financial year ending on 30 June, around mid-July. I would expect an update to be provided therefore in the next week or so. Clearly if there was significant news on regulatory approvals and first commercial sales then we would announce this without delay.
I’ve discussed your request for further information on distribution deals and the process of ensuring their sales team are educated on the products they are selling with the Company. I’m afraid this is a level of detail and disclosure that no commercial company would be prepared to provide externally, and certainly not something that genedrive as a public company would do.
Kind regards,
Paul
Paul McManus
Managing Director
D: +44 (0)20 7933 8787
M: +44 (0)7980 541 893
www.walbrookpr.com
twitter.com/WalbrookPR
It’s simple, the PR company confirmed that any significant news would be announced and that would include first commercial sales. Some of us already knew this of course. I am not surprised that the people who didn’t know this are now looking for ways to interpret this in a way that suits their narrative.
Great post BBN, many thanks for some irrefutable clarity!!
I am disappointed though, I was expecting to be able to add 6 figures at low 90's, looks like its on the up now.
Lb28 - count to 10 and breath. Emotion does not help, you need to calm down. I've been invested in here since march, I'm disappointed the shareprice is where it is at but let's looks at facts. Db said not just sales but significant sales in june. How many sales have we had since.... zero... non.. 0. Expectations were raised and they have not been met, the share price is falling because the market has issue with no sales being met.
Now lb28 just calm down, your anger isnt going to change the share price and it doesnt bother me as you are not important and have no impact on share price.
I would assume these regulatory reports from WHO or FDA or any authorities are published with certain delay (although they put an update/publication date on it which is fairly recent). Any regulatory approval is notified to the manufacturer/applicant first and updating database reports should come a couple of days later at least, as it is all sensitive info. So everyone is hyped up about finding out a delay vs expectations in such reports, but we should be much more progressed than these reports may suggest.
So I am still positive a reg approval will be landing anytime soon via RNS.
@Magsy18 I don't believe it would be good for either of our healths or indeed this BB, if we got into a debate on this subject once more, so I will tread carefully.
Firstly, an E-Mail from the PR company is of little value at all and should be placed in the context of what said 'representatives' are and are not allowed to say.
Taking that one step further, nothing written by said PR company can be taken to be accurate because the very thing that you are keen to be right about, "first commercial sales" cannot be communicated outside of a regulatory update.
To explain. You believe that first commercial sales are price sensitive and so must be reported. By believing as much, what you are inadvertently buying into, is that the PR company representing GDR, have through a one to one communication, provided price sensitive news flow, by confirming that there are to date, no sales.
If so then said PR company has over stepped its mandate and contravened the same AIM rules, you are keen to highlight.
Given that the PR company will know what it can and cannot say, it is highly likely that that is not what said representative is in fact saying.
"if there was significant news on regulatory approvals and first commercial sales"
can be taken to mean ;
"significant news on. . . first commercial sales"
That is not saying no commercial sales, it is saying significant commercial sales, which is exactly what David Budd said, in the 12th June update, when he talked about significant orders associated with distributors or customers.
I repeat, you cannot bash the company over the head with the regulations but then accept an E-Mail, sent in good faith I might add, from the PR company, as communicating the very price sensitive information, you are calling the company out against.
LB28, I think you are being a bit too emotional here, it is clouding your ability to interpret information correctly. Take a break and then come back refreshed.
There’s nothing to be debated if people are being intellectually honest. When the CEO has confidence that sales will come in June and sales don’t come in June, it’s a problem.
This will be debated all day by people with different views and expectations. However it's simple, there was an expectation that sales would occur in june as db himself suggested, since then we have zero sales to date and the shareprice will correctly drift downwards. Get sales, shareprice will start to recover, the longer there are no indication of sales the further the shareprice will slide. Yes it's good to invest in companies but for many it's about trying to make short term profit. I'm fortunate i can wait as long as needed but that isnt the case for everyone.
Ah BBN, just in time. Remember our debate the other day when I was saying that first sales would be reported in an RNS and that’s how we know there’s no sales.
Here’s part of the response from PR company.
“Clearly if there was significant news on regulatory approvals and first commercial sales then we would announce this without delay.”
Interesting eh?
Any chartists see support lines below 100 if we go below. I think 90 was one previously.
Sadly no update causes panic for some and they jump ship.
We are doomed this will never recover
Down toilet pan
@O&W I have to say, having witnessed your offerings for a number of years now, I am a tad surprised by your post.
GDR have produced a gold standard PCR test with the "best in class" manufacturer, in just 9 weeks. An achievement that is easily brushed under the carpet by a self induced panic, driven by a perception of missing out. That is no 9 to 5 job that they have carried out there.
A company that works that hard to produce such a high quality test, is highly likely not going to then throw all its hard work away, by not preparing its regulatory paperwork on time or attacking markets that are available to it.
"The Company anticipates launching the Genedrive® 96-SARS-CoV-2 in May 2020."
On 22nd May GDR launched its product with a CE Marking that allows it to sell its product in Europe (see presentation below from 13 mins on wards). The statement does not say that we will be shipping 6m tests out upon launch. That is a perception driven by the mind of the reader.
https://api.**********.co.uk/v2/widgets/media/GDR/single?mediaID=5ee9c79a9f98da001bbc4b07
The same presentation states, as of 12th June ;
WHO EUA APPROVAL
"WHO EUA applied" and this statement is backed up by CEO Daivd Budd comments.
"I cannot comment on how long that takes because the WHO does not communicate that back when you apply."
"The combination of WHO approval and country specific approvals is certainly what we need to get into these Africa regions."
More importantly ; "i personally don't think that WHO approval is a must have, in order to sell into Africa. We certainly see African countries currently procuring and making their own decisions, in the absence of WHO approvals."
INDIA
"I will confirm that we have applied and are engaged in the registration process."
FDA APPROVAL
"we have applied for EUA with the FDA, so we are in process there again."
Why do those 3 processes need to be any more complicated than that? Why is a company that achieved such a rapid product development, not entitled to a little space to breathe, in order to achieve regulatory approvals that are outside of their control and commence sales.
The product is more than good enough to achieve market penetration.
It is important not to forget that a key advantage of the GDR test, is that it can be stored at room temperature. It is therefore ideal for the African and Indian markets, as a starter for 10. Those markets are highlighted by David Budd in the Proactive interview from 29th May.
The company believes it can get into these markets without WHO Approval. However, if it takes a little time to achieve said approvals and it is they that truly drive the sales, then it will be more than worth it. As things stand, the market for high quality, easy to use, PCR testing, isn't going anywhere, especially in Africa and India and likely a good many regions too.
https://www.youtube.com/watch?time_continue=2&v=HCiOLYEcWJ4&feature=emb_logo
I’m sure the placing price was agreed when the sp wasn’t a lot higher than said placing price as these things take a little time to sort
Lb28 , such an angry person arent you. Always with the nasty comments and nasty language. Grow up and actually read what is said instead of what you want to hear it say.
It was agreed that it was a shocking discount by people who have absolutely no idea how these things work.
I agree on the expectations of sales and it’s great to be proven right yet again. As per the PR company response to ST.
“Clearly if there was significant news on regulatory approvals and first commercial sales then we would announce this without delay.”
I said that we know we don’t have sales as they would have reported it but people wouldn’t have it.