Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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deb - where will the money come from? - IMHO if this is as good of us as some of us think, companies with huge resources will be queueing up to JV with us, or buy-out, or similar
Unfortunately I agree with muggins. Today was hyped to be a solution and it’s far from it. It’s nonsensical to suggest that people will buy big lumps of tech or they should travel whilst possibly positive and find out when they’re outside a venue surrounded by hundreds or thousands of other people. I sold the second I saw that mini fridge ‘VHS player’. The solution has been dreamt up completely independently of reality. It’s a lovely vision of jam tomorrow, but as detailed by Muggins the route to market is unclear nevermind the solution doesn’t appear fit for purpose. If it’d been presented as a prototype and an idea I’d have had more sympathy, but the weeks of hype was ridiculous.
I’ve left my original stake in as I believe that the wastewater monitoring can play a vital part in controlling Covid. I hope that no more money is wasted on what is effectively a slight improvement on the iAbra device that was recently mocked and ridiculed. The improvement was the inclusion of affimers. It’s great to hear (again) that affimers work, but I’ve no real expectations of the breathalyser making it to market. If I’m proven wrong, I’ll eat my words, apologise and be happy as I’m still a shareholder - this evening, a disappointed one.
Compared to how Al Smith has managed Avacta products and PR, today was a disgrace. He really needs to step back and look at todays reaction and formulate a much better strategy, irrespective of the potential of the product. The company has a great team, but just compare to Avacta to see what went wrong. I feel there were a number of omissions in the RNS which became apparent in the presentation.....and the sell off.
Pilgrim - you have made an extraordinary statement. What evidence have you that 'they're in partnerships globally'. If they were they would be required to announce it. They have not announced anything so they do not have any partnerships.
Paul - I have tried to be fair. I have stated that I think that there is something there. However, there are lots of hurdles and I think that we were expecting guidance how we would jump those hurdles. Judging by the market reaction I am not alone. However, I do hope that they are succesful as the potential is clear - I just hope that we do not get diluted to hell trying to get there.
69.00 - 39.00, what happened to the “wow, just wow” that we saw this morning after the RNS.
That's the way you wish to interpret it muggins. They don't need loads of cash to prove it works and they're in partnerships globally. Trust me - if you don't understand or like it, sell up and move on..There's no point people trying to convince somebody who isn't interested. It is clear you don't have any grasp of the solution.
There has been a lot of hype leading into the RNS and presentation. There is probably something there but I fear years and tens of £millions away. There seem to be some fairly fundamental questions;
• Will this actually work in the real world? The development is much earlier than I was expecting and there is a lot that can go wrong before a product can be ready for commercialisation.
• The messaging on who will be the customer seemed very confused. You really got the impression that they had no idea how to bring this to market.
• Where will they get the money to complete the development? With the acquisition of MWG they have taken on additional losses of £2m. They either need a big fund raise (tricky at the current SP without massive dilution) or a big partner (see below).
• How will they sell the product, they do not have the infrastructure to do this at any kind of scale. They will need a global or regional sales and marketing organisations. Until they have someone that can do this then DV will not regarded as simply not credible. This is where Avacta made a real breakthrough with globally recognised sales and distribution organisations standing behind them ready for when the product is available. I think that there were many who expected an announcement on who that was going to be and the lack of that announcement is one of the main reasons behind the SP fall.
• As far as can be made out there is nothing really new or patentable and therefore if there really is an opportunity then it could simply be copied.
The presentations and RNS resulted in more questions than answers.
We have seen lots of hype but no trousers.