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So still no sales data, no Fda approval nor WHO approval. India desperate for testing and suppose to be a key market for gdr yet still weeks on nothing, no evidence of any sales, no evidence of distribution channels even. It seems gdr are technically good to create the product but have no real savvy experience to actually ship it out to market. If they cant sell.quickly in this market then they seriously need to up their game. First indications of sales should have happened by now. Bd said expected first sales in june, with all the information at hand and they failed. There are lots of patient shareholders waiting for something, so gdr get your pr and sales teams in order and start bring in the orders.
I emailed the PR team, from the cleverly worded email they are sticking to the official line.
Which is to say there is a fiscal update coming up. Obviously they cant say more but thats the official line for the July update, that its a fiscal end of year market update.
Thought all the bad news would tank the Ftse. Only thing it's effected was the dumb ass shares I bought. I'm really crap at this dream machine was right at the moment the market has moved on from covid it seems even though America Is shutting down. I'm doubting I'll see a return on this share.
samolly
tracker?
Well just sell them don't keep whinging about it the choice is yours
Yeah just ducking sell and go make money on the American market instead of whining constantly
Samolly
tbf Paul, the guy at wallbrook answered it in less that a day.
I never ceased to be amazed by what I read on these BBs. Investors expecting to be updated on the sales volume of a product that was only approved for sales 6 weeks ago and indirectly criticizing progress on FDA/WHO EUA approvals, that can only begin to be executed, post said CE Mark approval and is independent of the company.
What makes it all the more dumbfounding is that GDR have updated the market on the fact that FDA, WHO EUA and India regulatory approval, have all already been applied for and still its not enough for some investors.
This is a business that is in the process of launching a new product that requires time to bed in and be experienced and understood by its proposed customer base.
I would be more concerned if GDR were rushing out sales updates to satisfy impatient investors, that demonstrated front end trial orders only.
Realistically we cannot even begin to judge this new product's success until minimum year end and even then its merely a staging point.
not much i can add without being rude and saying to some to grow a pair, its just the name of the game
what if india approval lands in the next week and a regular order of 5m tests from then is announced to go with it? hello £50m of monthly revenue - what would that do to the share price...
i appreciate a lot of people would like to hear regular updates and see the share price steadily ticking up, but i guess we are past that now really
we are past the speculation stage and into reality, although i dont want to go as far as say this has become a binary play
however i consider gdr to be of incredible value risk / reward
to put it another way, who would like 5/1 on leeds winning the championship when they are currently 4/7
I think the expectation is there for a couple of reasons.
Firstly, DB himself expressed confidence in getting the first orders/sales during June and as we have received no RNS, we know that no orders/sales have been agreed as they would have been forced to update the market.
Secondly, when you compare these timescales to NCYT, they were reporting sales within 4 weeks of their product launch. Relative to NCYT timescales they also had FDA approval by now too with WHO approval due next week.
So it can't be that surprising that when DB's own confidence on sales was misplaced that investors confidence also starts to suffer. It also isn't unreasonable to use NCYT performance/timelines as a guide for comparison.
Magsy
That is a brilliant post and sums it all up. If DB didnt think he could nail the sales in June he should have said sales by end of July. But he chose to set a precedent. And before anyone says, he was leaning towards June over July. July is the standard update which he is forced to give regardless.
So yes DB ****ed up. If you cant deliver, dont talk big. And then the comments on LinkedIn, again just ****es me off, without FDA approval how is the USA even an opportunity for GDR.
DGR need a proper sales person!!!
@Magsy18 sorry but I am struggling to respect your view on this because its just nonsense.
If every company had to report every order it received, then Coca Cola would be likely be issuing several hundred/thousand RNSs a day. Companies are expected to update the market when price sensitive information comes to light (and even then many stretch it out for their own reporting means) or at timely intervals that are deemed by the company to be relevant and even that's not a requirement under AIM rules.
From my post here 2 days ago ;
"Looking at NCYT, post CE Mark approval, they required c. 38 days to complete their FDA approval and c. 50 days to achieve WHO approval. GDR are currently at day 39."
GDR are now at day 41, so just 3 days different to NCYT. No two processes are the same and I will guarantee that both the FDA and WHO workloads on this, are far higher now than they were in April because more tests are coming to market.
I am not responding to your post in order to convince you, its more to help those that may actually think there is a legitimate argument to be had over these timelines and reporting periods. To be clear there really isn't .
This is business, its not a computer game or a casino, its investing for a longer period than just a few weeks post a product launch. I will leave this now but in all seriousness, the argument being put forward is deeply flawed and not healthy for long term investors or for those that may be sitting on paper losses right now. Give thee company some time because the key elements that are needed for a really good product performance, are there in abundance. They just need sufficient time to achieve it.
Bbw you seem to of left out the 20 million in sales ncyt achieved prior to their who approval.
Samolly
Look at my history of posts, ive taken a transcript of the presentation and posted it. He most DEFINITELY implies June. Not a single person can defend that. Only the rampers, and believe me they tried to drown out the sane ones by spitting July and getting aggressive in their posts, until they read the transcript and shut up.
Funny you say it's nonsense and then go on to compare this company to Coca Cola.
Coca Cola is a huge firm with an established sales record and revenue stream. Of course they won't report every new sale because the impact on the share price would be negligible. Now let's look at GDR, a growth company with comparatively tiny revenues and a brand new product. The initial sales will be hugely significant compared to Coca Cola and as per the AIM rules, should and will be reported on.
@Magsy18
You said ;
"we know that no orders/sales have been agreed as they would have been forced to update the market."
That's the point I was answering. If GDR are 'forced' then so is every other publicly traded company including my analogy Coca Cola because all are treated the same, huge firms and growth companies alike.
No company is forced to update. The initial sales will be stepping stone and an indicator of early traction in the markets that are available and have been investigated to date. No more.
Please show me where it is written in the AIM rules that all AIM companies must report early sales. Or where there is a distinction between established companies on AIM and growth companies. Please show me where the definition of a growth company is defined in the AIM rules.
The only true requirement for AIM companies is to report their 6 and 12 month accounts.
There is of course an expectation by investors to be regularly kept up to date by the company. many fail their investors on this.
GDR have stated when they will update and have conducted a presentation with Q&A, informing investors on price of product, production capacity, room for increases on capacity and regulatory approval progress. That is above and beyond what the AIM rules insist upon.
No they aren't all treated the same. What is classed as price sensitive is relative. A £10 million order to coca cola is a drop in the ocean for them, a £10 million order for GDR is borderline transformational.
https://docs.londonstockexchange.com/sites/default/files/documents/aim-rules-for-companies-july-2016.pdf
"An AIM company must issue notification without delay of any new developments which are not public knowledge which, if made public, would be likely to lead to a significant movement in the price of its AIM securities"
Although I agree, this is an unprecedented opportunity. Arguably the most dynamic market any of us will ever invest.
New research and tests for covid are realeased every week. It is highly competitive.
6 weeks post CE Mark with no firm update fall below my expectations given the time sensitive nature of covid.
I'd just like to see that progress is being made.
LB,
There are other things that could be updated on.
Distribution partners & country approvals for example.
@Magsy18 Agreed and that point was covered in my response to you at 14.37pm where i said ;
"Companies are expected to update the market when price sensitive information comes to light."
However, it is the company that decides this and would have to make a significant error to even gain the attention of AIM officials.
But as I have already pointed out and was stated by David Budd in the Q&A from the Vox presentation, the company has said it will update the market in early July and earlier if "price sensitive" information comes to light such as a distribution agreement that comes with a significant order (paraphrasing).
The fact it hasn't says there's no need to report outside of their telegraphed update. The fact there is a telegraphed update means that pretty much all sales can be pushed into said update. That's normal practice.
The reality is the vast majority of AIM companies employ the rules in their favour. They report as it suits them.
Just take a look at early oil plays. They can achieve significant increases in production over a short period of time but they rarely rush to tell the market until their regular update is due. Is that price sensitive? Yes it is. Does it make any difference? No it does not.
It is not 'up to the company' to decide. Let me quote it again..
"An AIM company must issue notification without delay of any new developments which are not public knowledge which, if made public, would be likely to lead to a significant movement in the price of its AIM securities"
The first sale, assuming it is not some ridiculously small number, would lead to a significant movement in this share price due to the fact that it is the first sale and because of the current state of the market. GDR would have to report it without delay, not wait for a week because they choose to. I understand there is some wiggle room sometimes in regards to what is classed as 'price sensitive' but this isn't one of those times.
Unless GDR are breaking AIM rules, if orders/sales of any decent value have been confirmed then we would have had an RNS.
Angst
Is NCYT not updating their investors at the start of each month on the prev months events.
I agree what you are saying but on the other hand
@Magsy18 I'm done. You are entitled to believe what you see fit to. I have witnessed this sort of development many times and companies usually set a point in time to update the market on their progress to date. c. 6-7 weeks post product launch is not unreasonable and does not break any rules.
Many companies on many occasions have launched new products and not updated sales until their quarterly or even half year update. There is nothing wrong with doing so.
You clearly believe otherwise as you are entitled to do so. I wish you well with whatever investment choices you make with GDR.