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I wasn't even on this thread and haven't remarked about the cash position in weeks ! but hey don't let the facts get in the way of a good moan.
Anyway Twatch and all his gang, the real results will not be known untill 18 August 2022
Results will be issued on 18 August then the shareholders will see
"Next financials will reveal a lot more and hold the key to what happens next.
I predict it will not be a good read."
agreed - methinks odx have been too preoccupied with placings (one failed and one successful) and selling off the assets (covid/alva/ cd4)
there are no substantial contracts for ft been announced
They've started early and now becoming boring
"I think you'll find cash position at the moment is probably between £3m - £3.5m plus the other £4m-£5m to follow."
The "other £4m-£5m" isn't guaranteed at all, as I explained previously, written in that awful RNS just gone, they left the waters muddy, the door open and shareholders in the dark on this. Why negotiate an open door when you need a closed deal? Bonkers.
I know you saw the pound signs reading that RNS kate, but the rest of the world frankly didn't and neither did the markets. No point preaching its coming, when ODX themselves don't even know.
"if they are cash positive going forwards they should not really be valued at this low level."
matt - the problem is that if you put out the begging bowl - eg placing then the market does not see you are generating profits but diluting to keep the lights on.
also the sale of part of the portfolio - which should never have been loss making in the first place
also sends out a bad message.
sentiment is very low in a terrible market...other companies are being valued at less than CAB.
odx will have no excuse if they are not creating profits from ft...they told us of jam and that now they are fully focused on one division.
hashtag the sp doesn't lie
Don't forget H and N tests been produced since March. Last year £8.6m annual sales, this year will surely be higher.
No need to apologise the first bit was directed at Captain.
There was £1.5m in cash on 31 March 2022 to start with
Sorry I also added Alva sale as well
More supposition by the most pessimistic poster on here, I think you'll find cash position at the moment is probably between £3m - £3.5m plus the other £4m-£5m to follow.
The government dispute has to be taken ad what is stated in RNS untill we here differently. Even as you say paying on a monthly basis over 24 months will not be a struggle. Increase of sales will surely increase as the funds are there no excuses. Profitable company increasing sales more profit.
£500,000 a month losses stopped with sale of Alva and sale of CD4 test.
Like yourself Captain back of fag packet,assumed a starting position of zero before the placing which is probably wrong,added placing,added Abingdon payment,added CD4 stock payment,then deducted £300k x 5.I have also assumed they have been break even with the remaining part of the business.I also take no notice of FinnCaps price targets but they do serve a purpose of sorts.If you look back pre covid you can see what attracted Richard Sneller as a shareholder here and if they are cash positive going forwards they should not really be valued at this low level.
matt - how did you come up with £2.5m?
my back of fag packet calculations have it slightly more but - tbh it is just a guess as we have no idea of cashburn...
the gov dispute will certainly cause major problems if they have to pay back. though i suspect the gov would accept some payment schedule.
FinnCrap research is anything but.........they are paid by odx and organise their placings etc. they are there to pump the share. their new target price coincidentally happens to be the bod incentive price....coincidence? or convenient?
the annual report might give a clearer picture...and ft will not be a pretty picture in my guess.
Been trying to grind through the corporate actions to work out their current cash position.I know they say fully funded but my thoughts are they are currently sitting on about £2.5m cash.Hard to ascertain trade payables but with a potential £4/5m due for CD4 in a few months time its not looking that bad.Lots of write downs coming so the FinnCap forecast is also difficult to gauge..Obvious fly in the ointment is the DHSC payment but even if they did have to pay it back over say 24 months I don't think its the end of the world.Any thoughts