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Han1 **** off somewhere else if you are unhappy. Sell up and then the shares can go to somebody who will hold and make money from them.
If we had the big news with sales and orders and then the price was static or low then I would agree with you but we haven't had that yet. Put your money in to Deliveroo and see what happens at least you will get fed!
Benny-Hill
I don't know who stepped on your tail, yes i am angry with you rampers guys who they think that they knew it all and cant criticise any, well do you know how to filter people?
First of all you've scared me that you reported me, 2nd can criticise Any one i want anytime i want, 3rd learn how to spell waiting for you to teach me, 4th you cant afford buying my shares for 81p, i can give my opinion who are you yo tell me off.
Hani, if you are calling people stupid you must learn to spell first! Lol. I have reported your post obviously. One more thing. When you moan on and on and no-one likes your post. It means no-one agrees with you.
Hani, please sell mate. Moved some of my GDR profits into my ISA. Got a buy limit order waiting. If this investment is making you so miserable go and invest somewhere else and stop droning on for goodness sake. If you want to look a gift horse in the mouth then go the whole hog. No-one wants to read your miserabalist crap believe me. I will buy your shares for 81p. Deal?
Woow 10p down since the 9th Apr nearly £30k taking down from my Portfolio thx colin hope you enjoined your easter holiday
@MIKODX: ODX Stated in the placing document, their words not mine
£1.1M - ELISA
£3.0M - Lateral Flow Equipment
£0.4M - CD4 Margin improvement
£2.7M - Lateral flow portfolio development
£1.0M - Overdraft Payment
£2.3M - Working capital estimate
In the latest trading update:
We have made "loss in the region of £2.1 million to £2.3 million", Sales aren't covering expenses
Ooh my buy signals Computer909 and Margaret twatcher are here works every time
Computer909 you earlier said "If you look at the working capital estimate from the placing last year of £2.3M then that only goes so far, especially with the reported headcount increase form 135 at that time to 250+ now". Your wording makes it sound as if your saying 2.3M is all that was made from the Placing.
It's not rocket science that any expenses outstanding after the 2.3M has been used up will have to come from somewhere. Where else other than from cash generated from FI sales.
@Sledgey121 : "The share price is up 297% in the last 365 days, I think that's a multibag success."
Lets hope that statement still rings true in two weeks time, as we need to be at around £1.50 for it to do so.
computer909
"We all have to agree is something doesn't add up"
No we don't
Computer909
"@sledgey121: You don't have a clue as to how much I or anyone else has invested in here, I suspect a little more than yourself though, Clearly you would be more than happy for CK to make the same mess of 2021 as he did for 2020"
The share price is up 297% in the last 365 days, I think that's a multibag success.
From the recent ShareBuyers Q&A article Colin stated;
"We don’t need a Placing because we expect to have a year-end cash position of £5.5m to £6m. We have said that the DHSC contract is expected to have a significant impact on the future performance of the business and likely to result in substantial revenue growth in the coming financial year. This would have a significant impact on our cash generation and therefore removes any need for funds from investors."
In addition they have a £2m overdraft, but I don't think they'll be needing that for a while.
MIKODX: Can you read?, where did i mention being left with £2.9M,
Look at the latest trading update in the RNS
"All monthly expenses for this year will be covered from FI sales to China, and whatever Elisa and Antibody (Mologic and ABC-19) tests are sold", where has that ever been stated?
Computer909 - You said ODX will be left with 2.9M by the end of the year, that I'm afraid is incorrect. The Interim results clearly states that at the end of November 2020 Omega had a cash balance of £7.0m (2019: bank overdraft of £1.4m). All monthly expenses for this year will be covered from FI sales to China, and whatever Elisa and Antibody (Mologic and ABC-19) tests are sold. So end of this year we should still have at least 6M sitting in the bank not 2.9 as you said. So even if no contract materialises from now until the end of the year, Omega will still be financially stable.
@computer909- I can't disagree with you as to the shambles with visitect and elisa. It is important that all eggs are not put in to one basket and performance up to date has been poor. I don't beleive it's a case of " sat on our hands" - to me it appears hands tied behind our back.
@MIKODX : "The year-end cash position is expected to be in the region of £5.5 million to £6.0 million (2020: £0.6 million overdraft)"
If you check the Placing document for the intended purpose
£1.1M - ELISA
£3.0M - Lateral Flow Equipment
£0.4M - CD4 Margin improvement
£2.7M - Lateral flow portfolio development
£1.0M - Overdraft Payment
£2.3M - Working capital estimate
No lies, just facts documents issued to investors, perhaps you need to do some more research.
@walbrook the PR company seems to be sitting on their hands also. Soon as we get decent pr we will ping hopefully.
Computer909 - Stop spreading lies. The Placing generated 12M, of which some was spent on the expansion. Omega currently have 7M sitting in the bank from the Placing.
@Harley64: We still had the Visitect antibody test and ELISA shambles, that netted zero sales.
Are we in a stronger position, having received loan equipment from the DHSC?, we all wait to find out, My fear is that the company has outgrown the BOD, particularly the commercial side seems to be heavily lacking and that underpins the whole company.
If you look at the working capital estimate from the placing last year of £2.3M then that only goes so far, especially with the reported headcount increase form 135 at that time to 250+ now. It is more important now than ever to get some revenue streams active, but once again we seem to be sat on our hands.
Harley64
Omega have said all long that they are not relient on the gvnmt for its future success. My view is not to dwell to much on this.
Also testing in some form is now here even if covid suddenly ends.One question i will be asking the company is what they will be developing in the future after covid.
"I still wait for Tech Transfer news, the commercialisation of the test (4 months late) and news that the DHSC arent going to shaft us again."
Last time Odx was a third party in the arrangement and certainly left in the dark. Hopefully this time they will have a better understanding as to the commitments made by the government and are in a stronger position not to be caught out.
@sledgey121: You don't have a clue as to how much I or anyone else has invested in here, I suspect a little more than yourself though, Clearly you would be more than happy for CK to make the same mess of 2021 as he did for 2020.
It always comes down to numbers in the end, and in 2020 this world leading diagnostics company that was perfectly poised to exploit the opportunities covid was presenting (or at least thats what they told us when they asked for a few bob in the placing) makes a loss, and is in danger of repeating the same mistakes again. I still wait for Tech Transfer news, the commercialisation of the test (4 months late) and news that the DHSC arent going to shaft us again.
Computer909
When you say "we", you mean the people invested, not yourself?
"So you think it takes 250+ staff 1 minth to make a handful of tests,"
We would have hoped that 250+ staff could have got Tech Transfer complete by now!
We all have to agree is something doesn't add up, We are a test manufacturer that makes test to order, we havent had any large scale orders as yet, and ODX/Walbrook have stated many times they would release to the market any orders of interest, So what exactly are the 250 staff doing? , Perhaps they are all playing Jenga, there should be plenty of bricks about !