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You and I are small fish JAdam. I realised that many, many years ago. Seems you haven't.
Sell away ;)
Buy or sell JAdam. i do the opposite
Please stay JAdam. When you sell the SP rises.
Thanks
Just be bloody patient. No conspiracy. No deliberate withholding of information that can release. Just impatient over expectant children. News is due this week next week. It will happen. Why the hell I read this BB. So mush tosh is spoken.
By all means stay JAdam. When you're selling, i'm buying. You've got it wrong so many times.
You do only point out the obvious, of which has made zero difference. Another buy signal and makes zero difference.
The spread precludes you from trading most days. Today was different hence why you've been so active on the BB. Surprised you haven't brought up Director sells today?
Oh dear, these BB/threads become JAdamgate.
Where is Omega?
;o)
Jadams parents hate him they disowned him. And you can see why. Fixated with ODX. Sad man. Best filter.
JAdam can you tell me exactly what is your problem with ODX as you’ve already sold?
Traderbuckie - i thought you hadn't averaged up? You told JAdam earlier today?
You also didn't have a clue what you were talking about before. Your new money will be a busted flush by the end of 2021.
Innit bruv ;)
My post on the 23rd........."I have just topped up at 87p.....very surprised I can get in sub 90p."
what the hell has this to do with my averaging down? this is just a simple top up at present and today's price is pretty much at the price I bought for. It was my averaging down that has got me into the position I am in, this purchase at 87p is around about 5% of my holding.
JAdam, on your post to me - That was not the point of the exercise - Omega have already stated why the 6 months figures where down - The point was to cleary illustrate how CK could possible get to a price point for the LFT - You can never get away with the GP%, and because that is all we have, along with some info on Innova, and the balance sheet from 2019/2020 (pre Covid).
You are asking a hypothetical question when you say we must look at the 'income'- Yes I agree for an overall business, but we have Covid figures with reduced income, second which is the crux is we have no idea of future income, as we do not know what a contract (s) look like for Covid related products.
The numbers you have stated are correct, but due to Covid and the whole business gearing up for Covid products, in some way they are pointless - It does not show the real picture, ie: gearing up for Omega to create product (s) that where not on their radar last Feb/March 2020. When you actually think about it, its remarkable what they have achieved in less than a year, and if if was not there would be many manufacturing.
Just go and look at the money that is going to Global Access Diagnostics, its frightening - That should tell you and everyone else who has lost faith what the end goal is, Soros Fund Managementare are not idiots, go and look into them and who is behind this.
https://find-and-update.company-information.service.gov.uk/company/12558218/charges
But we have the GP % of 64%, 2 years in a row - So, in this instance to work out a price point, we can only take a contract amount, be that 100 mil, 1 billion and use the GP%, because its been constant for two years, without Covid.
We also know NCYT is 83% GP (I haven't check myself) - I would suggest, due to reduce earnings in the first 6 months, CK will up his GP by 10%, maybe 15% - If that is the case, that makes any contract a lot more profitable.
Traderbuckie - but your point at the time was (when you made it) you were in a major profit but averaging down. How does that work?
Any insight on your top up at 87p on the 23rd of Feb? Were you averaging up or down.
Don't try to make me out to be a fool. Been on here a lot longer than you. I don't buy the spikes and i know how things work. How is your RR and ODX buys and sells going?
Ta for the nickname btw ;)
Traderbuckie...
Looks a decent explanation to me , well done...
Bit like me really I bought in low kept adding on my way up and on the way down again!!!
It's been a frustrating ride but I'm not jumping off yet still want to buy my new motorhome!!!
prionace....Traderbuckie is still talking about averaging down but being in profit. I don't know how that works but maybe he can tell us all.
This is my third attempt at explaining this to an obvious ****** who claims to be a Grand Master AIM trader.........
Now pop your meds in and stop rocking in your chair and wipe the drool from your chin and read the following slowly and with all your powers of concentration. Sorry I could not post pictures and diagrams for you to help. If you get stuck ask your carer to help explain.....
I started to buy ODX at around £1.00 last Oct. the price began to slide but I kept loading up in order to bring my average price down.....this is called averaging down - FACT.
Now I stopped averaging down at the high 40's. My overall average price for all my shares is around 60p.
Now that is averaging down. I would have loved to have called it perfectly like you obviously do and buy my whole holding at high 40's but I am not a top trader like you. So if the price gets below 60p I am underwater (and was for quite some time) If the price hits 60p I am at break even. It is currently around 90p so I am heavily in profit.
I had faith in ODX and hence why I piled in....I had no concerns about this SP going back up. I took the pain and now I am in a much better position. I ain't selling yet as 90p is still cheap imo.
Now please refrain from giving any tips, advice, steers, pointers, recommendations as you are quite clearly an idiot if you cannot understand that explanation.
Not an insult JAdam. Not like you with your 'bedwetting ' name calling. Remember that little phase you went through for most of the year? It's a metaphor. An old brown leaf fluttering in the Spring dawn. Something irrelevant to the way things are. Like your useless argument.
Filtering you now mate. I was keeping an eye on you but I think everyone has got your number.
Furlough experts. A lot of them have popped up.
Hopefully they'll all pop off once the social clubs open back up.
Folk that have been on pre Mar/Apr 2020 can spot them.
Agreed Lovejoy, in fact given they have raised money via a placing, it is eminently sensible to run at an accounting loss, to reduce tax, I would be worried if their FM was not doing sensible stuff like this!
Aberdeenman
Aberdeen...
I was going to reply saying the same also many many multi million pound companies run at a loss on paper!!
But I don't want to get involved anymore with a certain person .....
Regards lj
"Omega made a Statutory loss for the year of £6.83m."
That loss can now be carried forward to offset tax liabilities, so for our purposes is a positive.
FACT.
Aberdeenman
Another day and the same old, same old.....
JAdam is talking about last years figure when clearly 2021 is going to be very different. You don't scale up like ODX have unless you have the demand there. I'm sorry but you just don't. ODX have got a contract with the Govt and i very much doubt they are going to shaft the company and all the employees they have hired like you're insinuating.
Traderbuckie is still talking about averaging down but being in profit. I don't know how that works but maybe he can tell us all. We'll all be rich if we can discover how he does it. He did say today that he has never averaged up but yet his posting history does say he did on the 23rd of Feb.
His previous posts have been deleted by the admin. Probably for his abuse and talking rubbish. Unfort convenient for him.
First half revenues were £3.16m, projected FY £9.3m. So second half revenues circa £6.14m. As a consequence margins will have improved. When we see the accounts in full, the EBITDA loss is very likely to be a consequence of the additional staffing that were recruited in the second half. This increase in fixed cost will negatively impact the margins again however my view is this is only temporary as sales increases will improve margins in 21/22. If sales do not materialise then yes ODX will be in trouble and that is the risk albeit small imv.
God Almighty. Omega Diagnostics were a successful, profitable, small diagnostics company selling HIV tests and food allergy tests from their own brand. Then the pandemic came along and they were approached by Sir John Bell, lead scientist for the response to the pandemic for both vaccine development and diagnostics and asked (over time the scale of the request has grown) to reorientate their whole business focus to manufacture tests for the pandemic. The best rapid, lateral flow tests in the world is where we have settled. This has taken time. The tests have been under development and evaluation for the best part of a year. But they are about done and we are expecting news now. ODX have an agreement with the government as one of 3 preferred suppliers for antigen lfts and 1 of 4 preferred suppliers for antibody lfts. And JAdam doesn't focus on that previous incarnation when ODX were happily working at an £8 million profitability, satisfying customers, workers and shareholders with much more modest ambitions. No. He focuses on the last year. A period of transition and transformation when they have dropped business as usual to prepare for high growth and massively increased capacity with government support and at the government's request. The company is expanding exponentially from a workforce of 70 to hit 250 by April 2021. With capacity to produce 100 million tests a year. Last year is completely irrelevant. This old geezer is trying to gaslight the whole board. The near term share price is going to be all about the near term forecast but he asks you to look at last year's accounts- a period of disruption and transition. Irrelevant. Like him. An old brown leaf fluttering about as Spring dawns.
We're on our way. That's all there is to it.
It was fully declared by ODX that the first half was significantly impacted by Covid and that the second half improved greatly as did margins. As they say dyor!
Filtered you clown
Here is some meat on the bones.
The gross profit margin in pounds is calculated by subtracting the COGS (cost of goods sales) from total sales revenue. To figure the gross margin percentage, you divide the pound by total revenue.
Lets say Omega get:
500 million contract - Omega has a 500 million revenue and its COGS is 200 million, that is a its gross profit margin is (500 million - 200 million) = 300 million - Dividing this result by the 500 million revenues equals 0.6 or 60 percent GP (gross profit). This represents the company's gross profit margin percentage and shows that the company keeps 60 percent of its sales revenue after paying its COGS, or the costs to produce its products.
I use this example above because its a fact that Omega’s GP % last year was 64%, so the COGS must be 200 million (+4%)
So, if its stays at 64% - I have called it 60% GP for the example then its a fact that Omega will create a profit revenue of 300 million pounds - if the GP % stays as it is, 64%.
You can now work backwards, if the contact is 250 million, the profit revenue of 150 million pounds.
To sum up - CK will want to, IMO, not mess around with his GP % as he has fixed costs in place on his balance sheet - So it has to be a fact that to work out his costings, he knows as a min requirement he needs to maintain his current GP. Plus, there is no way he will work that close to the bone - The nearest comparison is NCYT, I think from memory it was GP of 83%.
Regardless of what the cost of product is, parts, packaging etc its imaterial - The GP% of 64% must be maintained - Now you can argue he can reduce his GP% down to compete, but why? Product is in demand, WHO has already stated a world wide shortage of testing due to issues with manufacturing.
Plus, he has shareholders he needs to keep happy.
Something to pull apart and think about.