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.
Presumably phase 1 has been in place since the contract commenced when presumably there was a test available to be trialled
Rambo,
Previously ODX said they didn't know what test they would be manufacturing. However, yesterday they tweeted that they need confirmation of the test which is more in line with the contract.
One thing I am a bit unclear about - are selected LFTs supposed to be suitable for home use? The report issued last week on professional use scored visitect 57 for ease of use which I thought quite low.
Rambo - Unless they have something new to tell us Monday which they don’t it’ll probably be as follows…we can see everyone has seen the non-redacted tender and just to clear things up…nothing has changed and we’re still awaiting the government to decide which test they want us to make, and when we know you’ll know…saved you the wait :)
What is not clear is if phase 1 of the contract has been in play for several weeks like some suggest how can a decision on 'what test to make' have not been made, unless It is conditional on completion of phase 1 production which could be an expensive exercise for everyone if not the chosen test. We need clarity on what test this contract applies to asap. What are peoples thoughts on this aspect? I expect an RNS on Monday am at least clarifying the current position as the 10pm Friday tweet was very unprofessional and only has negative consequences for the fragile SP on Monday open. Personally I would only prefer RNS facts not suggestive tweets by a PR company doing self harming.
Phase one is finished. Long stop date 1st April. Get with the program.
Mars,
18% margin is used to calculate charges. Phase 1 is used to agree costs that feed into the charge. There are then reviews on the charges that take place throughout the contract.
'During Phase 1, the Authority and the Supplier shall agree in writing the Estimated Outputs and the Estimated Costs to calculate the Charges which then form part of this Contract using the template Cost Model in Annex 1 and the corresponding deduction per test from invoices submitted by the Supplier in accordance with paragraph 4.5 for repayment to the Authority of the Funds. The Charges shall be fixed until such time as the financial review takes place in accordance with paragraph 4.8 below subject to the Authority’s right to review the Charges if the Supplier fails to comply with paragraph 4.7.
The commercial market is more interesting and the HMG contract is the best marketing ODX could have, all tests will go
GreggsStottie 50M X £1.34 is not £37.3M
Phase 1 will be small it will be whatever tests the DHSC want to carry out such as a Perrin in a theatre or a group of NHS staff for eg
Greg that’s wrong the 18% only applies to phase 1 preproduction, phase 2 is £374m for 50m tests, no test costs £6 to produce. Phase 1 revenue is repaid in phase 2
Gregstottle - I'm trying to establish if it's 50m tests over two years - it's my view that it potentially is but I'm not 100% sure.
It's good to see I'm not going mad thinking it could be 50m how have you arrived at 50m over 2 years? Thanks in advance
Agreed Domenico the trolls are out since yesterday, everyone missing the point that the contract still there, i know its a mistake to tweet like this, but they took to extreme and took advantage to deramping most of the are shorters anyway.
374m / 50m tests = £7.48 * 18% = £1.34 profit per test.
50m/104 weeks = 480,000 per week. Lets call it 500,000.
50m x £1.34 = £37.3m profit. On 1/4 of capacity.......
BOOM.............!!!!!!
As far as I can see it is £374m for 50m tests
Preproduction is those tests required prior to full role out to the general public so for quality control tests hit like FIND
Nothing has changed .... Just that Omega had a 374 Million pound contract confirmed yesterday......I see that as good news... trolls are upset.... people oppened shorts yesterday...anyone selling will play into the hands of the MMs and trolls dont give them the satifaction..
There's a lot of strong feeling about this tweet. The juvenile nature of it is what strikes me the most. it's factually correct however. What I find astounding is the amount of people who didn't realise the publication of the contract related to the previous RNS (appreciate it may be a relatively vocal few). Look at the contract it was signed in February for heaven's sake!
So You'd like to think most investors already knew this and there wouldnt be an effect on the share price. However, as sentiment plays into peoples decisions I imagine there will be a fall in share price but it will recover when emotion subsides and logic kicks in.
Failing that we're due the mother of all updates which could potentially boost SP to new highs!
What's omegas capacity
What capacity is being used by govt for sovereign test
What's happening with the sovereign test
Confirmation of visitect orders - here's hoping they release some news sharpish to make everyone forget about that childish tweet.
Clarity on the 18% margin - omega need to address this in view. They should either say there's more to it than a simple 18% figure qouted in the contract and they can't discuss further or say they can't comment on it (confirmation by omission?).
The pre-production orders will carry a margin of 18%, pre-production payments will be made and then under Phase 2 the authority will recover the pre production payment throughout first quarter charges.
Mizman
Thank you mate, if it's goes down on monday , I will have no option but to average down. I think odx can still make us rich but they should stop those silly tweets, my blood pressure was so high last night, the funny thing is that I convinced 3 of my work colleagues to invest in odx
Vgla
https://twitter.com/omegadiagnostic/status/1390769834301050886?s=21
Does any one have a link to the actual Tweet rather than the follow up explanation?
Its the 18% margin
Kara, Sxx and Flyby were bankrupt. Omega has literally switched on the cash printing machine and just waiting for a signature.
Note yesterday travel update by the minister. We will have it signed off well before the 17th of May.
leaving aside for a sec how unprofessional that tweet from odx was, I've just read thru the long list of replies, and I think they shoulda got the message that people aint happy. some of the more choice responses.
"Does the person running your twitter suffer with Bipolar disorder by any chance ???"
"Were you on the sauce when you tweeted this on a Friday night?"
"Can we have a job advert for a new social media employee. "
"Has someone left their teenager in charge of the ODX Twitter account."
"if the share price drops im taking you to court"
Why do you think you are going to lose everything ?. As per the tweet, nothing has changed!