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Something is only worth what people will pay so really their job is estimating the willingness of punters to part with their paypacks
It doesn’t really say a lot for Sotheby’s valuation skills!
I'm a p*ss artist, does that count ? 40 grand for a painting, have they not heard of DV ? It's where the smart moneys' going !
lol spray paint and he knocks them out in minutes 20k thank you very much.....please read tulip bulbs
15 years ago you could have bought the one now selling at over £300k (with fees nearly £450k) for only £150!!!
DAMN ! Unless this baby goes to £10, I'll stick to Homebase for my paintings.
buy some of these then ;-) they've probably been the best 'investment' this century!
https://www.sothebys.com/en/buy/auction/2020/banksy?locale=en
'it needs spending, not sat in a bank' - you sound like the wife !
exactly - i'd worry if cash wasnt down as it needs spending now on development not sat in a bank.
Paul, it's what we all knew was being developed but it has never been confirmed as working before in a 'material' RNS.
Over the next week we can expect to start hearing more details of phase 1/2 development times and get a lot more attention accordingly.
RE cash position - MWG raised c£1.8m earlier in the year and further warrants have bought in additional funds - their cash will be consolidated into the larger Deepverge group
robortsmith, I've always regarded the statement re the existing microtox machines as a roll-out base as being a bit unnecessary and fluffy. After all, lots of the existing stock of machines are in settings that will have no need to know if the virus is present (i.e. industrial non consumer settings).
After all there is going to be more than enough customers for a real-time detection device in its own right.
This sentence could be a lot clearer too: " In collaboration with the team at Modern Water, Microtrace OVA systems, originally designed to detect contamination in water for chemicals, trace metals and a range of pathogens has been retrofitted with the Rinocloud AI based Novel Sensor to detect and identify SARS-CoV-2 and other pathogens"
blimey actually missed this bit on the quick read this morning. basically they have massive installed base already its just a case of adding the real time covid system to it? its just a simple upgrade for existing customers?
Over the last number of months, the teams have designed nano-photonic microchips coated with Affirmers and Aptamers that bind to a recombinant SARS-CoV-2 virus. Detection of binding of the target, in real time, has been achieved using a nanophotonic process. In collaboration with the team at Modern Water, Microtrace OVA systems, originally designed to detect contamination in water for chemicals, trace metals and a range of pathogens has been retrofitted with the Rinocloud AI based Novel Sensor to detect and identify SARS-CoV-2 and other pathogens. These OVA system units have been installed in hundreds of sites worldwide over the last 30 years and form the basis of the roll out of the Novel Sensor into 2021.
Given the way the CEO operates with a partnership model using specialists and having a smaller piece of a much larger pie I would expect once the prototype has been tested with live virus we’ll hear of OEMs. There should be significant global demand so I imagine we’ll have manufacturers in Europe, the Americas and Asia. Remember the footprint SKIN and MWG has in these regions.
Really hope we get an RNS on or before the AGM.
if they can get real time covid detection working funding wont be an issue! game changing if so - very exciting and well done GB for all you have done so far
Actually Paul, I disagree. This is the very first confirmation that what we are all here for (the Novel Sensor) actually works. That's massive news.
Over the next week we can expect to hear about refinement/development timescales leading to launch estimates.
I'd also expect to hear something about Government/Industry collaborations/testing.
a credit facility is a loan - it needs to be repaid. Essentially the merger is 2 loss making companies being combined - short term they will lose more money as a combined entity. Clearly the water detection could be a game changer - but any orders need to be manufactured, which costs money
With a working real-time detection device being refined, funding on their terms is not going to be an issue. They're going to have Government/backers offering them more than they need.
cash down from £1.2m to £255k in 6 months on £1m revenues.
If revenue was £1m and £1m was burnt on same costs they need turnover of £2m for cash flow BE for H2. No doubt costs may rise but they’re expecting to hit more than £2m having done £1m this Q and end of year cos spend the remainder of their budgets. Looking good to me.
From advfn - I think some got confused with £2m I’m booked sales for the year in Q1
over £2m in revenue Q1. The booked sales are with large cos who have service agreements so the invoices will be throughout the year. The last Q is always the largest with cos using budgets before YE and £4m is still guided due to £1m Q3 and remember last year was £1m FY.
With the warrants there is clearly decent cash on the balance sheet as well as a loan facility. As mentioned hopefully we can a solid RNS on the real-time monitoring progress. That’s the big one and by the sounds of the Chairman’s statements it’s on track.
They have £3m credit facility in place.
cash down from £1.2m to £255k in 6 months on £1m revenues. Less good.
Hi Robortsmith,
Good find, looks like the UK Govt will be buying 580,000 test cartridges at £30 each = £174 million....wow..imagine what we might get not just in the UK but across many different sectors and countries....
All looking good. Congrats to GB on a great turnaround.
Outlook
With a positive first half, Q3 revenues expected to be in excess of £1m we remain comfortable to guide revenues of £4m for the full year.
oh yes!
COVID-19 presented a significant growth of new business opportunities from its real-time water contamination detection and environment sector solutions, which resulted in agreements with Modern Water plc ("Modern Water"), Avacta Group plc ("Avacta") and Aptamer Group Limited ("Aptamer") for the development of real-time wastewater contamination detection services that provides immediate alerts to authorities to contain COVID-19 hotspots. COVID-19 contamination detection in wastewater increasingly becomes an important tool in the fight against the disease.