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Since starting my groups have undergone significant expansion and have developed analytical and clinical processes to adhere to quality and regulatory frameworks, delivering the validation of 12 products for IVD-R submission by 1st June deadline and multiple clinical Performance studies. I also sit on the R&D Executive team, Extended leadership forum (Exec -1) and work cross functionally across the organisation, delivering company needs. additionally my team works collaboratively with Business Development to deliver OEM products.
As I've said previously, reading between the lines, clearly loads going on behind the scenes here.
"I'm not sure I want DA to spend it. He hasn't shown me anything in his 9 months that says he'll spend it wisely."
amen to that. quite frankly it is hard to see the removal of salad man as bringing down the sp anymore. he has already managed to get it below cash in bank.
he clearly can succeed in a job interview but not in the actual job. how much more time is needed before the bod admit they chose the wrong man ?
If he is ratified then what would does a CEO have to do to not get ratified.
Even if you discount his first 100 days as a settling in period, he has still overseen a SP reduction from £3.50 to £1.10 in 6 months. Fair enough, that is only the SP you say. What about the fundamentals? Well revenue says it all. If my math doesn't fail me, we generated £0.5m sales from non-covid products in Q2. £500k in 3 months. That is a huge stride backwards in my book. Not what we're paying DA for. What about cash? He started with £100m, still has £100m. To be honest, it's the only thing propping up the SP at the minute and I'm not sure I want DA to spend it. He hasn't shown me anything in his 9 months that says he'll spend it wisely.
I was one of the lth's that gave DA the benefit of the doubt at the very beginning, I even followed him in @ £2.30 believing he wouldn't throw his own money away. A month later he sends out a profit warning. Lol. There's no denying I called it wrong with DA from the very start.
I used to think not ratifying him would delay our progress further and ultimately be a step back fundamentally and for the SP, but with a SP of £1.10 I don't think it matters anymore. I actually think the SP would react favourably to the news.
Sorry guys, just a bit of frustration coming out. I hope someone at ncyt does pass these messages on to him.
BH good post and tend to agree about the management. Do you think DA’s appointment will even be ratified? After what has happened recently I’d be amazed if it was. He’s quite literally done nothing other than oversee an unbelievable drop in the SP and deliver zero good news.
great post poidster - and totally agree
"For me, personally, its not the capability of the company thats lacking, it's the leadership.
It's so frustrating,because for me, I can see where the opportunities are and there are many but Novacyt they seem to be frozen."
the strategy going from their pretty graphs is to wait for the next "pandemic" and hope to cash in. the awful toblerone prediction graph pretty much confirmed this,
they then did a bubble chart of most profitable areas and chose the least - insect thingy.
it should be quite clear to all by now that salad man has no real vision - he seems to be just treading water quoting marketing glossary and the usual rhetoric of share holder value.
i have said all along...ncyt need product brand and identification. we need to know clearly what the future products are and how they plan to monetise.
it seems that the year in which salad man has been in charge has been wasted. in a game where things take time this is criminal and will punish the company for some time
and we are expected to authorise a pay rise for this?
Thanks for your musings Poidster, great you are still interested in the company.
"There was a massive opportunity in the UK with the introduction of community diagnostic hubs, Novacyt didn't bother trying to get in there."
Might it have been the case that financially there was insufficient gross margin for the companies supplying the hubs?
https://lowdownnhs.info/news/collapse-of-private-company-partner-in-community-diagnostics-hub/
RNS
25.01.2022 - "Group gross margin before exceptional items is expected to be in the region of 70%"
27.09.2021 - "Group gross margin before exceptional items is expected to be in the region of 70%"
22.06.2021 - "Group gross margin continued to improve, increasing to 76.3% in 2020 from 64.0% in 2019"
There are other 'gross margin' data available in earlier RNS's.
The above shows me that prices remain high (at least up to 25.01.22).
Therefore the reason sales are low is because pricing of products is not competitive.
I looks like we now employ many sales people, who are nor selling as pricing is too high.
Does anybody have a different take on this please?
++++
Info here
https://www.investopedia.com/terms/g/grossmargin.asp
It’s only poidsters positive/informative messages and his frontline knowledge that get deleted by de rampers .
He is however bang on with his current assumption of the CEO and BOD in my opinion .
It appears to be a rudderless ship at the moment , excluding the R & D team .
Has anybody here ever tried to get in touch with sales/marketing department ?
Poidster's post holding up well 5.32 and it's still on, baby Huey his posts do have a remarkable tendency to disappear.
I agree on your metaphorical blood on the floor comment, unfortunately we don't know why there is such a shocking communications line to paraphrase what I'm trying to say
Anybody could have done it, but Nobody did it. Somebody got angry about that, because it was Everybody's job. Everybody thought Anybody could do it, but Nobody realized that Everybody wouldn't do it. It ended up that Everybody blamed Somebody when Nobody did what Anybody could have.
The company presents as hero's (r and d) being led by.....(word of own choice) I note neilrich3's post where I believe he implied Mr America had gone(Neil?) DA needs to realise it needs the slashing blade (metaphorical of course) not the feather duster.
Morning heatwave in the north west (raining) I'm off to get some sun elsewhere.
Gla.
It's all been said repeatedly over the last few days and those posts remain so don't worry about getting deleted, us weeds are still here.
Just in case yet another of my posts gets deleted, note to those that want to see this removed, ive copied it and will repost everytime it gets deleted so don't bother
Poidster
I agree totally with what you say. The BOD and in particular CEO / CFO appear very weak in ability .
I still hold.
I only check in here occasionally now, there's not much to say.
Having waded thru the weeds of the posts a few salient points I've noted.
First and foremost, novacyts R&D team continues to impress, THEY deserve a significant rise as they are the powerhouse behind this company.
As far as I'm concerned that's where the good news ends.
The company seems rudderless now.
The BOD seem to be completely detached from their own company.
There appears to be no leadership, no one getting out there, saying, these are our strengths, this is what we can do, globally. Laying out a strategic plan for growth, targeting untapped markets.
Believe me Novacyt is more than capable to do this, they have the skills, technology and know how to do this.
For me, personally, its not the capability of the company thats lacking, it's the leadership.
It's so frustrating,because for me, I can see where the opportunities are and there are many but Novacyt they seem to be frozen.
There was a massive opportunity in the UK with the introduction of community diagnostic hubs, Novacyt didn't bother trying to get in there.
Tropical disease testing, with versalab in African airports, yellow fever testing.
I'm not sure whats going on, opportunities exist but you need to go out there and make them happen.
I criticised DA a little prematurely but he's had nrly a year now and I still really don't know anything about him, he's been truly awful. He's not leading the company and getting out there.
A couple, as in 2, interviews.
There is no way on God's earth any of the BOD should get a rise, we've seen the SP collapse and just static from the BOD.
Whoever is in charge of the sales team needs sacking.
I still believe in the potential of Novacyt but not with the current BOD, they Don't seem to have a clue
I don't think so PI100, the low SP and shocking update should and probably will trigger a number of possibilities, BoD reshuffle, wouldn't be surprised if senior directors cleared out the deadwood and even appointed a few good NEDs to protect themselves. Getting the finger out on possible M&A. Or people building a stake for whatever reason takeover or investment. The SP will improve.
The reason something will get triggered is because this situation is 100% caused by bad management/human error. That can be fixed by changing the the management/humans running the business.
I don't believe the SP is tracking cash in bank, because the cash in bank is only potential until it is ulitised, spend well SP goes up, spend badly SP goes down, don't spend SP mostly ignores it. The SP is reflecting IP , revenue, and potential. ATM IP is great, revenue is pants, and potential we don't know so can't really value.
I'm expecting bloodstains on the boardroom carpet fairly soon.
2.7 million cases and rising, thousands in hospital as a result of their belief in herd immunity.
There may be well more than these numbers as tests are no longer free. It would be a significant move for whoever ends up as health minister to implement testing simply because many are unaware of being carriers.
The testing message is not getting through.
Having survived 2 years of the pandemic without COVID-19, I, and many I know have succumbed to this horrible virus, but we can keep being cautious, thanks to tests reserved for this eventuality, people cannot afford private tests,step up !
If the BOD were all to stand down at the AGM, wouldn't that leave us with a rudderless ship? I can't see that helping the SP. I'm as frustrated as everyone else with the ever decreasing value of my shares and yet I have some sympathies with the BOD. NCYT react to health problems with solutions, and when its a big problem and they have a big solution they do very well financially. We may be developing good new products, but "do they scratch where people are itching". I'm resigned to waiting a good period of time for the next successful problem/solution to happen. I'm sure it will one day, but who knows when.
PI100. Why would any sensible employer offer you a job, you spend all day spouting Tosspot ,on this board.
BH chap. Personally I believe we a stockmarket crash coming. The Frse 100 is relatively strong but never aless I have never seen so much economic carnage. Just saying.
Regards
easychair -
PI100 is posting so much so much verbage of late, there must be a team of them using this handle,
(hence the 100 I assume, all PI's) :o~/
It’ll instantly*
PI100
You have just won Tosspot of the year award.
So P100 the logical thing to do if you believe it will be trading at 50p is to sell up and if you're right double your holding if you so desire. After multiple chances to get out you haven't and remain ultra negative. By my fag paper calcs if what you say is true you lost 200 quid yesterday and took the time to write 40 odd posts , don't know what you do but perhaps that time would have been better spent earning 200 quid. If I could have earnt what paper loss I incurred yesterday rest assured that is where my focus would have been . Farcical
BH - the realistic amongst us aren’t. Whatever the outcome I think the SP will just track cash or thereabouts. We’re a loss making company now so no premium to be had. Fair value is cash at bank.
Well entertainment value is improving this evening lol
Bit of a difference 6m to 60 m to add to the 99m?
Sp should improve, imo ?