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I would argue that they have a good lft just have to wait for approvals.
I would argue that the CDTA approval process was set up as a deliberate block to all UK manufacturers. The application fee of £6,500 gave it a perceived credibility, but the reality is 4-5 months later we are no further forward and doubt we ever will be. Omega diagnostics have been played, and paid for the privilege.... You have to wonder what went wrong in the early days to warrant such despicable treatment of the entire UK diagnostics industry... Follow the money!
I would argue that they have a good lft just have to wait for approvals. The UK is a mess and they have some sort of excuse there if they did get applications on on time. The ping pinging back n forth suggests they did not do the greatest of jobs with the form.
Eu still has need of lft tests and it is taking far too long..but again I suspect much is down to the tardiness of the application under Colin's watch.
However my rationale is that by now all the bad news has been priced in. I did say back in December that I saw book value of company at 11p ish...but did not think it would drop that far because of sentiment. Clearly that has been totally killed . However I see us really at rock bottom now...I hope I am right on this
Hi CaptainSwag - when i first invested in ODX (feb 2021) i was full of confidence as i believed they had the right product (lLTF) at the right time and all they needed to do was fine tune manufacturing and marketing - obviously i was wrong as they struggled to obtain even the basic certification but i hung on in buoyed by the news that they were recruiting and establishing a strong production base - once again i was wrong - in hindsght all the indications were not good but i still hung on in but then ODX (and uk the uk diagnostic as a whole) were badly let down by the UK government. So, enough of the past - the future: ODX do not have a viable LTF to bring to the market, the UK government are clearly not supportive (even asking for their initial investment to be returned) - granted ODX do have other products but none provide the growth potential to justify a high risk investment - the change at the top will not solve the inherrent weaknesses and whilst ODX can probably be 'day traded' successfully the long term prospects do not look good. My loss in ODX was just over 70% which equates to 10% of my total portfolio and was in excess of £20k - a big pill to swallow for a small time investor. My initial investment decision was wrong but the only decision i kick myself for is not getting out earlier - probably the best comment i have read re ODX is thst it drops like a stone and goes up like a snail - the final nail in the coffin will, as always, be investor sentiment which i believe has long left the sinking ship and no amount of deckchair arranging will save it. I hope i am wrong for the sake of current investors sitting on losses similar to my own - put simply ODX had a great opportunity, missed it and are now going nowhere.
Captain, the downfall is across the UK diagnostic industry, so nothing much to do with odx fundamentals over the last few days. When the sentiment changes etc, it should pick up to go back in 20s. Did someone say jag will be giving out a statement soon? If so when?
doug - sorry to hear about your 10% loss. never nice when anyone loses money. and anyone who takes joy in it better watch out for karma! some of us are down 70% or more - so you didn't do so bade
never say never with odx. personally can't see at 8-10p. mind you i was wrong about not being in teens for long. do you have any rationale behind your price prediction?
personally i think we will move back to 15p. then be interesting to see if can get back to 20p without any major rns. i can't see a logical reason for this sudden drop through teens other than colin going. which was good rather than bad news
To be honest, I do not see this coming down the second time to around 12p after CK left. This is one way up from now and again if new CEO drop any positive news, this is heading toward 25p anytime. Imo Gla
Hi Greg22 - i sold out at 18p registering my biggest loss to date - a hard decision as it represented over 10% of my portfolio disappearing and will take ae a long time to recover (if ever). I held on for far too long waiting for some good news which never happened - i wish you well but i believe this in now headed towards 8-10p in the not too distant future so i hope you have deep pockets - sorry.
eazy - whilst sounds great....my suspicion is if mologic get self test approval in us they will set up their on factory in us or buy from someone out there. seems crazy to add on transportation costs to a test that we are prob not cheap with anyway. they would prob need more than we can supply on our own .
Certainly does seem odd that from tuesday, the mask mandate for indoors is dropped. Seems like the gov is gambling on covid becoming a disease that is mild enough that the deaths caused by it are no longer significant. That is a gamble given that it keeps throwing out new variants. I hope they're right.
(Twitter) Martine Stigter @MartineStigter 53m ago "Watch WHO's Dr Maria van Kerkhove at around 17.25 mins stating that COVID is not over and condemn UKgov's premature lifting of restrictions. All #ODX need now is EU HUA and it's game on."
Shal....firstly I think odx have a much better portfolio. Secondly they got a gov contract which they signed with no minimum and a short expiry date. The fact that it expired without odx supposedly noticing might suggest that they didn't really do due diligence legally
Where are the people they were in talks with? They have all gone if they were ever there. The unit at Littleport hasn't moved to the new place at Ely yet. I still hold here at a massive loss and just seeing what happens.
"For a start, the government can apologise and not demand the 2.5m as it wasn't odx fault to start with." It is absolutely the fault of ODX in not getting a better contract and tying themselves to the one they did get which wasn't worth the paper it was written on.
The one thing that no one has said on this board that our competitors genedrive and abingdon etc have all dropped between 35 to 45%. Why all the negative comments always gets targeted at odx management. The common factor is that the government has screwed the whole UK diagnostics industry and they should be held responsible. For a start, the government can apologise and not demand the 2.5m as it wasn't odx fault to start with.