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Stock split on D today , looks like consolidation .
All sailed through....they originally prob thought the consolidation vote would have slipped through too
Let's hope they don't lose dispute ..that will sure make a dent in the coffers..and no chance of a placing with current share structure now that consolidation is off the table..for now
Chairman announcing in RNS today that comoany still confident of substantial counterclaim against DHSC. He also states again that they remain funded for their turnaround strategy.
This from company not from posters on here who keep changing their own opinions.
Atan - agree with much of what you say. Plus wasnt the track suit king in charge of the food division before being upgraded to ceo as reward for his failure? he failed then and is failing now. except at securing his bonus
to be fair - the usa is a difficult market to crack...there are some major bodies against the type of test that odx are hawking..add in a really rubbish sales / management team and i agree with
"I believe this company is now in a death spiral. It will be when, not if, they go"
they may delay the inevitable if a couple of things go in their favour (royalties / dispute) but without being able to make a profit..the future is not looking great.
my suspicion is that consolidation may well raise its head again...and this time it will probably be a fait accompli - as they have no other choice but go bust
Some of these posters just have long posts to make out they know what they are talking about or that what they are posting is correct look at what he has previously posted in August. All so that he could get his target price of 2.25p (remember he posted that months ago). Now he implies that he is a shareholder. Names for these posters.
It was why I was rather pleased that the new non exec was appointed. Sadly, this came just as the only other credible member of the executive team walked out.
You are right - corporate governance is vital. It is often lacking within the SME sector. It is why they ended up having to get in consultants when they were in a mess. If they had done things correctly the consultants either wouldn't be needed or when the warning signs appeared.
You can't manage it if you don't measure it. It was ever thus.
As for the question - this is an interesting one and one I blame myself for being sucked in. I abandoned due diligence and my own investment metrics. I saw a company that made covid tests during a world first covid lockdown. What wasn't to like? The rot however had set in long before.
If you actually study ODX they have kept going due to selling off assets and raising money. Rinse and repeat. Colin was appointed in 2018 to fix the mess - it is a familiar story - lack of comms, poor results, costs too high, poor governance.
As an example - mainly because some are holding onto this prospect. In 2018 they wrote in RNS the following:
"As part of the strategic review noted above, we are actively pursuing opportunities to target and add additional sales channels which we firmly believe have the potential to create significant value in the world's largest market for food sensitivity testing."
In the raise that followed the money was meant to go on improving prospects in the US.
In 2017 they had ISO 9001:2008 and ISO 13485:2003 for Pune (India) but failed to bring this QMS to the UK.
So in answer - it was in 2017 when things turned from being a profitable company to the mess that has resulted today. This was due to weak management and poor governance leading to ambition overtaking ability and inability to take the steps needed to correct it.
I believe this company is now in a death spiral. It will be when, not if, they go and the only other question is if anyone will pick up the scraps.
Exactly. When Richard Sneller was in situ one feels they knew they had to toe the line and do what was best for shareholders or feel his wrath given the shares he held. When he departed decisions started being made in favour of the few than the masses...
Green stripe Dave - let me guess. ''Who's this Richard Sneller bloke - never heard of him''...
Tradesin...it really does feel like nobody is keeping the bod in check and on the straight and narrow
Still at it.
I think odx has always been a tin pot company.
They woke up one morn with a wining lottery ticket and COVID. The bod did very well out of it as did the savvy speculators.
Unfortunately others of us paid the price .. and for some of us it was a heavy price. I thought a gov contract meant that a) odx were a legit outfit and b) they would get paid for tests
Colin was a oaf..but I think a decent bloke.remember he was the one who didn't sell. Though maybe he couldn't work out how to switch his PC on to get emails ?
The rest are pretty slimy characters in my opinion.
The fco was good and did what he was employed to do but unfortunately his agenda was not aligned with SH interest
When Richard Sneller sold his shares? End 2020. Leaving no one to keep the BOD to account.
And yet these non shareholders still continue to post on here to try and save us shareholders or to stop others from investing here.
What stinks is you five, you clearly have an agenda.
"The sooner shareholders realise that the BoD are not working in the interests of them the better."
THIS!
hiding the consolidation on p78 of the appendix (or whatever it was) shows everything you need to know.
Should have been highlighted in the original rns of accounts
they have tried to sneak it through..hold agm in a remote place etc to get it through
luckily it still did not work - this time
Shareholders have read what you have had to
post previously, and more recently. So why do you continue,
unless you are connected to board?
Why do you want shareholders to sell?
Why are you continuing with your repetitive posts?
You've posted now go and irritate some others, because you do not present yourself as a top 2% of society.
An AGM is a regulatory requirement for listed companies and others. It can be a box tick or highly contentious. But they give good clues to where a business is.
How about the ODX AGM? Here are some things to note:
1) A company that believes institutional investors are interested will ensure the AGM is where they are - i.e London. The location? Ely. A small little town in the turnip fields of Cambridgeshire.
2) A company that wants engaged and involved shareholders will ensure that the AGM is well marketed. Instead the AGM resolutions were buried in the Annual Report. It screams they dislike SH and just want to get on with whatever it is they are doing. Like awarding themselves huge bonuses following record losses.
3) A company that has lots to say will want attendees. Instead we have an AGM in a little hotel whose capacity is 50 seats.
The sooner shareholders realise that the BoD are not working in the interests of them the better.
Agree atan.
I was expecting more of a sell off on the consolidation notification rns. Either SH didn't notice or too busy spamming board or no liquidity
The only thing that is preventing a share collapse is so many being 90%+ down and writing them off.
I doubt anyone would be able to sell a large holding
I wonder if Dave wishes he had sold at 55p...
Would he be more critical of the board instead of spamming the board with nonsense. Green stripes abound.
Let me take a wild stab in the dark and guess vulgar, police, jag's wages are justified?
How do you know what's in my post? , you've supposed to have filtered me. Rumbled again, waste of time you are, censored now.
What is quite funny is the green stripe cannot defend any of the statements given in the RNS this morning or counteract anything I have said in my post this morning.
Just the usual distract and diverge Tactics being played as normal meanwhile they're Investments to lower depths than a Titan submarine.
3 of the non shareholders posting already, working hard this morning.
They won't have £3.8 million.
Apart from that I agree. Desperate stuff.
Exactly captain. It would appear those who are still holding shares have become quite bitter because they didn't understand what they were buying into and clearly did no research just bought in on the hype and lies from the board.
Probably most like Dave are sat sweating nursing and 90% loss and the inability to sell because the gods said not to.
"Honestly why do you care soooo much"
honestly why do you care so little about a share you hold?
did you gamble like putting on black?
you do realise you own part of the company?