We would love to hear your thoughts about our site and services, please take our survey 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.
"Captain hindsight "
That is worth a good belly ache.....I said all year that there was no concrete sign of any orders, and the cohort of "NDA", "Stockpiling", "manufacturing at capacity week after week", "what about the 250 employees" yes men/happy clappers tried their best to drowned out what was always the reality. I was the first to note that the tri-antibody test was missing in action. I was one of the first to query why a TT that was suppose to happen in a matter of weeks was still being waited on month after month. And I noted on here the clear worldwide apathy for lft antibody tests whilst most were saying they were knocking them out like billyo. And during the live results video whilst all I heard £15.50 for the china test in CKs thick accent, all the rose coloured glasses brigade were 100% concrete it was £30...no guessing now who was right.
So don't be a revisionist about when I raised issues, which was at the time and NOT after the fact.
My hope was that even with no output worth speaking about, confirmation of the gov contract alone would provide a sizeable jump from the mid 40s/50s to a price that would be an exit point. And 2M a week, even many many months late, would be a massive step change....I consistently said that the gov contract would be a significant step change for the SP and I am on record in saying that i believed it would happen....right up until it didn't.
unfortunately with the the new reality, the SP is now at a point that I am resigned to see where it goes from here.
If you want captain hindsight, have a chat with regulator who though the recent results were not at all surprising,
The update i hade from Walbrook with regards the contract expire date (they will not release the actual date) was ...
"Although the Company has confirmed to me that even after the longstop date both parties were still in active discussion about utilising Omega’s manufacturing capacity, effectively to achieve a similar result than if the contract was still running"
From that i take it that they knew the contract had expired, and never disclosed to the market that fact, until the interims made them do so on the back of checking their legal stance.
"Twatcher
why are you here?
i've never seen a positive utterance from you with regards ODX, yet you do seem to enjoy the part of Captain hindsight "
And yet out of the two of us, you are the one that is calling for the CEO to resign, whilst I think on balance, it is better he stays, at least in the short term.
Which of those is most negative ?
Why did CEO promise on all Covis test and hope contact to excuse ? If he cant do this job he need to go and that is why people blame for him to make this mess. Tweet plumped. website update with new waiting for test to manufacturing. 250 new staffs and more to come Constance up to date on tweet. what is happen now. all of this mess up is gone and who is responsibility?
Twatcher
why are you here?
i've never seen a positive utterance from you with regards ODX, yet you do seem to enjoy the part of Captain hindsight
we both know you (YOU) can not control a market from a BB , however you attempt to offer a one way opinion day after day after day.
do you hold ODX stock?
a genuine question and observation !
15.34 post ..twatcher
Total agreement. One wonders if the directors who sold understood the contract better than Colin.?
I still don't see him as deceitful..in all honesty he doesn't look like he has the brain power. Just vastly incompetent in running a £200m company which is what odx were at the signing of the contract.
He was measured and found wanting. If you are sitting in profit and top sliced then it doesn't affect you that much. Others assumed the company was reputable and solid having been awarded a gov contract.
Sadly Colin will suspect is the only one in all the COVID contracts that did not get to wet his whistle...
"@TWatcher. Think you'll find that 1st para from RegUK was quoting dsaf .Blinded by an ever-ready, over-eagerness to 'get one over'.Sad..still."
Be damn useful then if he could highlight in his posts what he is typing and not what he is cut-n-pasting.
and reinforced by
"The Contract takes effect on the Effective Date and ends on the End Date. Unless the Authority
gives notice to the Supplier that it is proceeding to Phase 2, the Contract shall expire on the Long
Stop Date. "
Someone with basic verbal reasoning would have easily understood the contract naturally expired if phase one did not proceed to phase 2 before the end stop date. It said exactly that after all.
"The contract shall start on the Effective date and shall continue for the duration of Phase 1 which ends on the long stop date (1st April 2021) as extended by agreement between the authority and the supplier unless notice is given by the authority to move to phase 2"
One sentence covers the entire issue, in plain simple english, the " we took legal advice thing" was smoke and mirrors, to try to protray this as a complex set of terms and conditions that needed a lawyer to make a determination.
Long stop date was extended once, to a date that ODX refuses to announce.
ODX was not advised by the authority to move to phase 2.
The contract thus expired at the end of the most recently agreed long stop date.
Bigbang, I agree with your assessment below.
It was either by default no one asked the question - not wanting to know - until the day before the RNS or incompetence to not have asked the question months ago considering the importance of the answer.
It’s by the by now as our share price reflects the situation, as you say once we gain approvals we should enjoy orders.
Just one mute point, IF the market would have known about the DHSC contract lapsing then it’s fair to say the share price would have fell months ago,by not asking the DHSC - for whatever reason - it created a false market in the shares and allowed insiders to dispose of their shares.
"You clearly have no clue about how contracts work..."
well it is clear that colin didn't....methinks he should have known about the expiry date well in advance - who knows. possibly when he signed it - and done something about. not wait until the day before presentation to find out
"Convenient or pure chance, if either then incompetent, CK signed the contract way before. Why always defend the indefensible"
Eh? Why is it incompetence?
Colin took legal advice on whether the contract was still in force at the relevant time - which wasn't when they were signing the Contract but when there was a question as to whether the contract was still extant.
You clearly have no clue about how contracts work...
..and you trawled/trolled all the way back through his history to July '20. U ok ?
"CK commented that they had the legal opinion the day before."
Convenient or pure chance, if either then incompetent, CK signed the contract way before. Why always defend the indefensible
@TWatcher. Think you'll find that 1st para from RegUK was quoting dsaf .Blinded by an ever-ready, over-eagerness to 'get one over'.Sad..still.
Thanks dsaf, we have common ground. I noted at the time that CK commented that they had the legal opinion the day before. The fact is that if the contract had lapsed in April as suggested by the Chairman then their due diligence should have made them aware of this at the time or shortly after ie well before many upbeat tweets and (surely the most damaging) was that until the day of the meeting the £374m contract tweet was pinned to the top of their page. Approvals will lead to orders and orders will give us a much better SP - those invested will accept that this is just a matter of time. Anyway I wish everyone, Good Afternoon.
BIGBangs, unfortunately we will never know if CK knew or not, but in the presentation he claimed to have found out the day before (i think it was if anyone else wishes to clarify) and thats what we have to believe, I don't think he would lie on camera.
I do however agree comms could be 100% better.
The blame for ODX’s failure lies squarely with HMG failing to approve a test that is evidently the best in the market whilst constantly ordering more stuff from China. ODX have failed as they have clearly not managed our expectations as to timeline and progress. Surely enough here as we type the SP falls 10% yet we bicker. I’m off to do something else for the rest of the day.
Dsaf-Ok thanks for answering
Regulator today:-
"I was invested before any of this covid malarky, if it comes off then great, if not then the rest of the business will see a valuable return on my retirement pot"
Regulator 03-Jul 2020:-
"I've invested heavily in ODX because, as part of the UK-RTC it will be producing a gold standard POC test. It's a long term keeper."
https://www.lse.co.uk/profiles/regulatoruk/?page=163
3rd post from bottom of page.
"but the likes of the fellow captain here will do anything in their power to stop it and make you feel venerable."
more fantasy....i do not have any power over the sp......i do own shares...and i have lost a lot of cash...and i am not happy...and i put the blame with colin and his incompetence in strategy and PR / comms
calderkate, questions relating to CD4 design and distribution.
Dsaf- So once again I'll ask In that case then why post that you had spoke with him ?
wadogara, exactly that. It will come good but the likes of the fellow captain here will do anything in their power to stop it and make you feel venerable.
"but you have no idea of what shares i hold....you are just making it up to suit YOUR AGENDA"
And to be honest, I don't really care either.. My agenda is to see my investment through for another 5-6 years before I think about selling.