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Started: olivergill, 14 Jun 2024 19:16
Last post: masterblaster, 15 Jun 2024 22:58
I can tell your a lot of fun 🤣🤣🤣🤣🤣🤣
I can tell you stand outside school playgrounds materbaiter you weird nonce
I can tell you've put all your pocket money on this one, bad move Dingledick💷🤔🫣
🤣🤣🤣🤣🤣🤣 Sell sell sell
Don't be like that Dingledick, I'm only playing with you 🤣🤣🤣🤣🤣
Sell sell sell😜
Keep tugging lonely masterbaiter
Started: Ravenox, 14 Jun 2024 15:37
Last post: Pebble101, 15 Jun 2024 08:39
Once a bad debt is over 6 months old and less than 4 years 6 months and has been written off (not just a provision in the accounts) then you can claim relief from VAT. So yes, they should get £12.5m back into cash although it will be offset by any VAT payable on the return when they claim it.
Neilrich3 like you I'm not an accountant so what we need somebody from the company(thanks pebble and others by the way) to say is it on paper or are we/are we not getting a rebate.
In the reality the only version of events that matters is Steve Gibson's .
Are we saying that potentially now £12.5m VAT to be returned as cash in the bank?
The £8.5m VAT will not be offset against the £24m, it will be repaid so that debtor disappears and cash increases. The £24m trade receivables will be written off, but VAT will be included in that figure and also recoverable. So the amount written off and the product warranty virtually cancel each other out.
Very much doubt the vat would come into it. Expecting two government departments to talk to each other is a massive hope
Started: neilrich3, 14 Jun 2024 20:38
Last post: neilrich3, 14 Jun 2024 20:38
Started: Cluelesshareboy, 14 Jun 2024 19:01
Last post: Cluelesshareboy, 14 Jun 2024 19:01
well with how they carry on , maybe 20p , complete shower of ****e . strong case lol , then fold asap . perhaps they should take the cash and put it into ladies toys , at least then we'll know something will eventually go up lol
Started: John2015, 14 Jun 2024 17:41
Last post: John2015, 14 Jun 2024 17:41
68p down to 46.8 on the week down 31%.
Not a peep from the BOD.
AGM in 2 weeks.
I hope you all take the chance to fill your boots with the votes.
Started: olivergill, 13 Jun 2024 18:14
Last post: gizmo555, 14 Jun 2024 15:41
Amers it is not right that gov surplus Q's are flooding the second hand market ..these should have been returned refurbished updated and used to create diagnostic set ups for exactly this situation at minimal costs south Africa is a diagnostic wilderness but primerdesign have a foot in the door ...id rather go down with a company seen to be trying ...than focused on something that could very easily be nothing ...my £250 wants more effort 🤣
Amers since when has free been associated with profit .....your not that clever ........primerdesign mpox test was the test of choice by a gov .....free floods a market and builds trust ........oh you are clever .....sorry 🙂
Exactly flat
Now covid is well and truly behind us ..we need a presentation outlining what the 5 year plan is.
What they are trying to achieve and by when
Cant just rely on 6 month trading update..which invariably shows no progress and so gets hammered.
There is no more speculation on court case and so the only thing to attract new investors and keep existing ones is a forward case.
Hi Amers
If you want to cheer me up, by me lunch lol #please
So now that the legal overhang is gone, I'm left with my failed initial investment premise. I had thought that NYCT and Primer were innovative and adept to bringing products to market as evidenced by the speed at which they won approval of their Covid products. The renewal of the relationship with Immunexpress suggested that they were getting closer to bringing a Point of Care (POC) Sepsis test to market. Sepsis is a top 5 killer of patients in hospitals with no reliable means of diagnosis and a time urgent need to start appropriate treatment. NYCT purchased a POC device maker making it seem like their was a plan recognized the need to provide diagnostics closer to the patient. They touted a destiny that intended to become a Mid-Cap in short order. I realize I read to much into the hype but now the company owes its investors a realistic appraisal of what it can actually accomplish.
FL
Started: ripley94, 12 Jun 2024 17:44
Last post: BeardedDragon, 14 Jun 2024 14:14
Ripley94 maybe you should have been a little more patient instead of buying at 53p. Personally I am looking at 45p as a possible entry level.
Steadied yesterday before a further 7 % fall today by 9am before going into weekend .
Patience.
Topped up at 53p .
Broker would not allow me to order at 54p from 8.45am , ended up making it a cheaper buy , executing at 9.30am.
Had order on after yesterdays DHSS settlement RNS and big fall to 55p the then 14 month low.
No analyst views .
3/7/23 noted +23% on buying YGEN
Started: Mostin76, 14 Jun 2024 10:24
Last post: Goat123, 14 Jun 2024 13:17
I am sure that, in common with many of us, WBAFC was (to put it mildly) gutted by the outcome of the litigation, having hoped for a favourable outcome and corresponding rise in share price. I know that he had a very considerable sum invested here and I hope he is ok. I too lost big time on this but cut my losses and will never dip into this, or any other AIM share, ever again.
I keep telling myself that whilst unpalatable to suffer a loss, it is only money and there are more important things in life, but it’s tough to accept that!
Where’s the doctor gone?
Started: CaptainSwag, 14 Jun 2024 11:50
Last post: CaptainSwag, 14 Jun 2024 11:50
I think we need to vote off the board up for re election...and anything that allows them to issue new shares or perks to the bod.
We need to make it clear that their performance has been woeful and will not be tolerated going forward.
If any of us performed so badly we would be out of a job.
We need to bombard them with questions on what they are doing in terms of strategy going forward ..So they can't ignore the questions they don't want to answer. Let them know they are accountable to us the people who own the company.
LR needs to know that yes he has fallen on his feet with a golden egg but he can be removed
We need regular updates via rns on progress made.
Apart from court case / change of CEO and Ltip / taiwan ...we have had next to nothing on progress. They need to be accountable and if there are no updates ..why?
The expected figure for this years sales is in the order of £20 million plus, with the DHSC case now resolved it is up to the company to demonstrate it can squeeze out a profit from these sales, if not the axe has to fall on parts of the company until profitable. That's the chief executives role and if he can't do it then he must go but as a shareholder I have shown enough patience so act or get out. The technology is a fine tool for bioscientists and pathologists, time for profits.
Last post: Orangutan73, 14 Jun 2024 09:15
Why won't they release the dateails on this strain? I wonder...
Don't fall for this again folks...
Another MRNA Vax already lining up for it... really?
In the few human cases recently, the infection has been caused by the virus binding with sialic acid receptors in the victim's eyes... goggles will be the new masks.
No one wants another pandemic—but bird flu has already flown the coop
https://fortune.com/2024/06/11/pandemic-bird-flu-h5n1-spread-health/?abc123
Well their sells and buys are always wrong and their sp's are always behind...
You would think with todays technology, it would be spot on... but then, they couldnt mis-direct could they? #itsallabouttheadvertsnow :(
There was only one today, it's just an LSE error.
(There we go, that's both LSE and I)
There was only one today, it's just an LSE error.
Val I have also been looking, but it has gone in to black hole
So where is the second one?
Started: John2015, 12 Jun 2024 17:24
Last post: JRDC, 13 Jun 2024 17:51
Turnover means fook all. I'd rather have £1m turnover with £1 profit than £100m turnover and losses of £25m and no end in sight.
Nova have 18 months to become profit making before funds run out and they mug off investers with a placing, otherwise auditors will refuse to sign off the accounts as a going concern. Based on current performance that doesn't seem likely.
Hope springs eternal but don't hold your breath WT. Shareholders have been mislead time and time again. The incompetence shown over the last few years is mind boggling. Had been sitting on the sidelines on the basis of a much vaunted favourable outcome from the DHSC dispute.The result is what it is and irreversible.Absolutely no trust in the competence of the BOD . There is no clear catalyst that would prompt new investors . Better value and opportunity elsewhere IMO.
One would only hope for upside going forward.
The dispute is yesterday’s news, what’s done is done, need to look forward and be positive about the future potential. The future now being more important than the past. Thankfully, already have annual turnover in the region of £20m, £35m cash at the bank, importantly an established Global footprint with offices in Asia and the Americas.
Testing is going nowhere!
They won’t expand any further upon the details surrounding the dispute, the settlement shall remain confidential…..perhaps in 100 years, the details may come to light.
Clearly the ongoing dispute has been a shackle around the neck of Novacyt, this undoubtedly will have affected their ability to do business. I think that Yourgene has also been affected by their financial woes and their need to regularly raise capital.
Now that both companies have been released from their shackles, who knows, but surely a greater chance of landing some larger contracts. You could argue that until yesterday, business continuity had been in doubt for both, organisations perhaps reluctant to hand either a £5m contract.
Hi neilrich ....going concern it already had staff capable of running and contracts would not be effected ...just without directors and CEO greedy excess ...and a thorough audit of why a company that's going to save the day was broke ....primerdesign will outperform even from a cloud
Not to mention some talented staff.
How messy would that have been, should Yourgene have gone into receivership, we'd still be picking up the pieces and business/customers would have been lost.
Hi neilrich ...they were about to go into receivership ...they would decide it's value as a going concern without the board ....what's going to happen when the quality care commission comes visit ....it's not just a diagnostic business anymore ..
Nothing wrong with the ygen timing...just seems we paid too much for it..especially with all the addons ...ncyt is currently worth £8m if you take cash off.
We paid £20m + for it
Still could come good...
But We desperately need some tangible forward plan..leading to monetisation.
Id go a step further as well, in that as Nova is all PI owned, any II would want many to fold and cash in, so when they by, the PI's are reduced and the sp wont skyrocket ?
With a clear path ahead and 38 odd mil, someone is going to want in, eventually?
PI's are the problem im guessing? and why I didnt sell! #Ilikebeingaproblem lol
So, why are you here then ? and why did you go to court the other day? Surely you would not waste your time? If you feel this is a dead duck?
NB: I spoke with a respected city trader some time back and he said then, dont expect to see anything for 2-4 years unless of course another pandemic/bug surfaces, from China or Russia or wherever?
Im bottom drawing mine, and waiting, no rush to cash in, just angry at that "strong grounds rns" and frankly would like to see a few of those that get paid for NOT looking after our best interests moved on?
Anyway thats what bill boards are for... to speak ones thoughts? God Luck ?
ValJu
I'm sorry, but I think you're wrong. I wouldn't want to work with is company once I'd carried out due diligence . I also believe that's why ygen offerings have been so slow to get taken up. Too just too much of a risk to move your systems at great cost over to theirs. This company will carry on making the CEO plenty of money but shareholder will never make a good profit.
Disagree master, it will make it, but, will we be alive to see it!
Having waited on a recovery and "anticipated" court win... time is now on the BoD side, with 35 odd mil and revenue from Yourgene range etc..
Although Im not so sure shareholders will be, especially those who bought high and could not average down enough?
Bottom draw for now and bring out at agm to vote... ? imo dyor
Wilson63 is that your IQ. Looks like the only share you hold! All your eggs in one basket, very bad move.
This company will never make it.
Started: neilrich3, 12 Jun 2024 10:33
Last post: fuelofthefuture, 12 Jun 2024 21:47
"Here at Novacyt, we provide diagnostic test methods for a range of tropical infections, including malaria, Usutu, chikungunya, dengue, Zika, Ebola, West Nile Virus and monkeypox, to provide fast and accurate guidance for treatment."
https://novacyt.com/diagnostic-areas/#:~:text=Tropical%20fever&text=Here%20at%20Novacyt%2C%20we%20provide,and%20accurate%20guidance%20for%20treatment.
You can't get a short on this waste of time company. I ve already tried.
That BBC article mentions 13 EU countries...
according to an article in the Daily Star this afternoon it's "in at least 18 EU countries" and "Furthermore, Europe isn't just facing a rise in dengue cases but also an uptick in West Nile virus outbreaks, as per Tuesday's (June 11) EU statistics."
That's masterblaster in the bin, you don't like him I get that but stop being a pi100 and sod off, unfortunately I won't be able to read your reply.
Lot of people with negative agendas rattling about, thanks to those posting company stuff.
I hope whoever Amers talked to was speaking accurately and they are trying to right the ship.
You’re a shorter masterblaster?
Last post: Handy111, 12 Jun 2024 15:52
He took the SP from 10p to £12,,,,if you didnt sell at that price or just below that isnt his fault !,,like everyone else i didnt but i blame ny greed not him
Last post: CaptainSwag, 12 Jun 2024 10:49
Harris...personally I hope LR IS doing something and getting a nice rns ready for us.
But I agree on giving him a week or so to do a director buy unless we drop into 40s in which case he needs to step up and stop the rot
Val...people wil try to play all sorts of games on here to make coin. Ultimately nothing written on here will have an effect on the big picture. The company is the one in control of that.
Some have made it clear they will exit in an orderly fashion...myself included. 57p should have been the base line from yestrrday. Drops usually get overdone ..pull out stop losses and cause panic etc. I am looking for 70p..which I believe is achievable with a good news rns..
Gla
My guess is that LR will do nothing for a week or two and let the share price drift before buying in himself, alongside the other directors which will signal the bottom.
Cap, cant you see those talking sp down or might drop - want it to drop ?
Decided to Bottom Draw the lot... and wait - until there is a face to face agm?
As cant go, without holding and cant vote, without holding :)
Davand If that is the case, you need to start banging the G/F or the Mrs
Dav..what do ncyt have to do with vaccines?
Testing will only become more and more common and extensively
used
Started: B2HS2L, 11 Jun 2024 23:14
Last post: sharemeister, 12 Jun 2024 09:45
Now the distraction of the court case is over. I can see this bouncing from here. Bound to be t/o interest as well.
We are obviously undervalued as it stands, as the business is being valued for its cash balance only.
A fair share price atm would be 80p then factor in takeover speculation (which is bound to come) we get well over the pound mark. Good buying opportunity now! GLA LTH.
Simmulla - cash plus assets is around £70m (see my calculation in the other thread), why would there be an almost 200% premium to that?
One thing I can guarantee is that Lyn will come out of this okay. Be warned he only has his interests at heart. He doesn't care about shareholders. Be warned.
"hi amers - it means the bod cant be trusted to look after our best interests and need voting out!"
Unfortunately there are few aim companies where the bod look after shareholders. They are treated as an inconvenience until their vote is needed on a bonus raise or to be used in a placing.
I don't blame management for the court case.
However they should have gone after not only appointing salad man..but not monitoring the situation and realising he was doing nothing after 3 month walkabout. Leave him in place for a year and Give him a bonus.
That was a lot of time lost and value eroded. Also cost us the bio takeover.
Talking of which...now we are out of danger of being wiped out..how some renewed interest by them would do wonders
@Masterblaster: Let a brother dream!
Started: fuelofthefuture, 12 Jun 2024 04:54
Last post: fuelofthefuture, 12 Jun 2024 09:17
Upset we didn't "win" but chose settlement - after re-reading the below from last results rns feel a tad better than if we had "lost" and had to pay the full value of dhsc claim
"then the Group would not have sufficient funds to settle the liability without agreeing a payment plan. This matter raises substantial doubt about the ability of the Group to continue as a going concern in the worst-case scenario."
Current market cap is now approx £39.5M
cash was £36.3M as per last results RNS
IF it is correct to assume £5M settlement payment outgoing and an incoming £8.5m VAT debtor balance related to reversing UK VAT paid on DHSC disputed sales invoices, resulting in an increase of £3.5M, taking our cash up to £39.8M
Are we now pretty much priced at cash and zero value assigned for the entire business?
I chose not to sell out yesterday and await some of the financial murkiness to become clearer.
IMHO, DYOR & GLA
Oxford Instruments snaps up a rival - anyone think any companies might consider a takeover bid for us now the dispute cloud is no longer hanging over us?
Started: MisterETrayda, 11 Jun 2024 17:02
Last post: PI100, 12 Jun 2024 06:21
Also the P&L will be impacted by the write off of the £23.9m debtor balance which relates to dhsc, as this obviously won’t be paid. So this will adversely impact the P&L.
When all said and done though, it does leave cash around £40m and a balance sheet of around £70m (from the year end accounts cash down 44 to 40 which is the current 36.5 + net vat rebate and 5m payment, debtors down 32.5m and liabilities down 20m). A reasonable position now the dispute has gone - maybe selling out at 41m marcap wasn’t a great ideal after all! That said, factor in some more 10-15m trading losses and you can see why the market is discounting it.
As another poster mentioned, I think it’s ripe for takeover now that dispute has gone. Clear out all the useless management and run it properly and there may be something there.
Exmex you initially said the reversed provision would go back to cash. It wouldn’t.
What I’d expect to happen is the provision reduced by £5m and cash the same, so a decrease in the liability and assets, and then the £14.9m provision reversed to the P&L.
You do realise P&L credit doesn’t always = cash in the bank?
L R had nothing to do with COVID test so untainted .....blinkers on... forward march
Sorry, 'neilrich' .
Meilrich, £5m does come out of cash but the provision was for £19.8m, they are paying £5m. The overall effect is to increase profit/decrease loss by £14.8m.
Started: B2HS2L, 11 Jun 2024 23:07
Last post: B2HS2L, 11 Jun 2024 23:07
FWIW -
https://www.labpulse.com/business-insights/policy-and-regulation/fda-clearance/article/15677136/roche-garners-fda-eua-for-4in1-respiratory-panel?braze_int_id=64b7b1a59c412b0001d02d21&braze_ext_id=64b7b1a07ab161fb33c6ea4c
Roche garners FDA EUA for 4-in-1 respiratory panel
LabPulse.com staff writers
Jun 10, 2024
Roche has received emergency use authorization (EUA) from the U.S. Food and Drug Administration (FDA) for its Cobas Liat SARS-CoV-2, influenza A/B, and respiratory syncytial virus (RSV) nucleic acid test.
The rapid multiplex real-time reverse transcription polymerase chain reaction assay is designed for use on the Cobas Liat system. It can detect and differentiate between SARS-CoV-2, the influenza A and B viruses, and RSV from either a single nasopharyngeal or anterior nasal swab sample and produces results in **20 minutes**.
The test is authorized for use at point-of-care settings operating under a CLIA certificate of waiver, certificate of compliance, or certificate of accreditation.
In a statement, Roche noted that it intends to pursue FDA 510(k) clearance and a CLIA waiver for the test; the company has plans for commercial launch in other markets worldwide after gaining CE-IVDR approval.
The new assay expands Roche's portfolio of tests for respiratory illnesses for the Cobas Liat system, which already includes tests for SARS-CoV-2, strep A, SARS-CoV-2 and influenza A/B, and influenza A/B and RSV.
++++
Length of time for these clearances unknown.
Started: CaptainSwag, 11 Jun 2024 07:50
Last post: simmulla, 11 Jun 2024 20:17
Disappointing outcome that makes very little sense.
Misled by the BOD. The best we can hope for now is LR and co dipping hand in pocket and buying some shares and then for someone to take us over.
Yes we are burning cash, but we are debt free, cash in bank and have a good number of products which should surely make us attractive to one of the big boys? Here's praying!
"I think LR should buy something else", he could start with shares in his company.
JRDC THG Management are no better, promise the earth and deliver FECKALL
Well I'm mostly out at 59p, huge loss but there's no way these will see £1 again, let alone my £3.30 average. Can now move on with life and treat it as an expensive lesson in greed and naievety.
Over to you, THG and GGP, for some good news this year.
They need to do something.
A plan on how they propose to take the company forward beyond this would be good.
Where's the growth coming from? Target markets they are exploring
Future developments etc.
They need to come out fighting now if they want this company to succeed.
If we hear nothing for the next 6 months then its over. They need to come out with a very aggressive marketing and sales plan and communicate that to both sh and the market. If they don't, it's just a lifestyle company from the BOD, they'll take their wages, then just move on.
I'm so disappointed with them all.
Utterly useless BOD if I'm being honest.
I expect nothing, I'm setting my expectations very low.
Wonder if I could get a job on the BOD
Who's head or marketing & sales now?
They need to earn their corn now
Started: Poidster, 11 Jun 2024 18:34
Last post: CaptainSwag, 11 Jun 2024 19:17
Harchris...well that showed he has learned something.lets hope it is saving cash and not reading the room.
If he is worth his salt he will know that the sp needs something to restore confidence ...rns are needed quick and regular.
Poidster ...your not wrong ...the problems with test came after approval ...and change in manufacture .....yourgene should never have been used as a critical component manufacturer ....they failed in process procedures and directors found unfit to run a company and ordered to change ....rather than follow guidelines they folded company ...and are seeking employment by a company willing to ignore due diligence in applications
Giving salad man his first CEO job as he did the prettiest power point and could recite the dummy guide to marketing glossary was the sign the others were just as clueless.
I think the problem with aim is that it seems to be full of incapable management teams. They can't survive other than placings.
Ncyt had the cash of a mid size company but still ran by penny share management.
Giving salad man his first CEO job
CS you say that about LR burning money but he repeatedly spoke of his focus on preserving cash in the near term in the recent IMC so it does at least sound like he’s learnt from his mistakes.
I loosely followed YG in the past and I certainly don’t remember that being a priority of his back then.
Harv54 totally agree re pcr, people can have how many cycles debates as long as they want the rules at the time are the rules. As for the civil servants!!!!!! Who chased a company who were helping out and perceived as experts in their field potty we couldn't vote them out.
If ncyt had a strong case then one goes for a favourable settlement. So, the we can assume the initial statement from ncyt management was not correct that we have a strong case.
Second, based on LR past track record he is not a businessman. One can watch his yourgene videos where he said as a CEO my focus on business and SP is market driven and not controlled by him. Also, he lied about the financial position of the company leading to bankruptcy. Now, he is on the driving seat and whatever money ncyt has will be burn quickly.
During the early part of the Covid outbreak, Britain was scrambling to put together its emergency response and there were concerns about the country’s capacity to quickly diagnose coronavirus cases. The government called on business “to build a British diagnostics industry at scale”. However, as the pandemic waned Novacyt became one of three smaller London-listed diagnostic companies to become embroiled in legal disputes with the government over testing contracts. The arguing weakened balance sheets, investment and employment and led to a breakdown in relations between the government and business. Senior insiders have questioned how industry would respond to a “call to arms” if and when a new crisis emerges.
Novacyt has sought to move on from the dispute. Last September it acquired Yourgene Health, a Manchester-based molecular diagnostics group, in a deal worth about £17 million. In April Novacyt appointed Lyn Rees, 51, the former boss of Yourgene, as its chief executive.
Times:
One of Britain’s highest-profile Covid-19 testing companies has agreed to pay the government £5 million as part of a settlement to resolve a long-running High Court dispute.
A trial had been scheduled to begin this week between Novacyt, the London-listed company, and the Department of Health and Social Care. It now will not take place.
The fortunes of Novacyt and its share price were transformed during the pandemic after it secured lucrative work with the department. It became only the second company after Roche, the Swiss multinational, to have its test approved by the World Health Organisation for emergency use and the company struck a partnership to create a testing laboratory in Cambridge with the university and with GSK and AstraZeneca, Britain’s two Big Pharma companies. Novacyt also became one of the top five most-traded stocks on Euronext and Aim, the London Stock Exchange’s junior market, and was closely followed by retail investors.
However, it later became mired in a protracted legal dispute with the government, hitting its shares and profits. Two years ago the government launched a £135 million breach of contract claim in the High Court against Novacyt and Primerdesign, a subsidiary the company acquired in 2016 for £12.3 million. Primerdesign is behind its PCR test and is based near Southampton. The government alleged that Novacyt’s test had failed its validation tests and had “poor sensitivity and false negatives”. Novacyt rejected the claim and launched a counterclaim against the department of £81.5 million for goods and services and for damages for breach of contract. It argued that the tests had “functioned in accordance with the specification”.
As part of the High Court settlement, Novacyt said that “neither party has made any admission of liability or wrongdoing in respect of the claim or counterclaim or otherwise”.
Shares in Novacyt, which were listed on Aim at 59p in 2017, rose from about 13p at the start of 2020 to £11.94 in October that year. The stock has since slumped and it tumbled by a further 17.2 per cent, or 12p, to 57¾p in afternoon trading.
Eight individuals shared stock worth £19 million under a share scheme begun at about the time the company was listed and after the share price had soared. It is unclear to what extent those employees cashed in those shares.
PCR tests are highly precise and sensitive. The problem was the government put contracts out to their friends. Sir Paul Nurse the Noble prize laureate showed the country at the time how to organise a test system and demonstrated what could be done at the Crick institute. Political greed with fat contracts to friends of ministers was at the route of the failure of test and trace. Not PCR tests.