Listen to our latest Investing Matters Podcast episode 'Uncovering opportunities with investment trusts' with The AIC's Richard Stone here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
If it gets worse we could always sue.
US shareholder lawsuits have led to billions of dollars in payouts. Now investors stung by UK stock price drops are increasingly turning to litigation.
Institutional investors in Serco this week reached a settlement with the outsourcing company over a contract overcharging scandal that prompted a plunge in its shares, in the first case of its kind to go to trial in England.
Similar lawsuits are piling up in the High Court against other London-listed companies including Glencore, Standard Chartered and Barclays.
Keith Thomas, head of securities litigation at law firm Stewarts, said such cases had accelerated as a result of investors’ desire to “hold companies to account” for “egregious governance failures”
Started: thewombat, Today 19:02
Last post: Newuncle, Today 19:36
I shall leave you to reflect in your positivity here. All is great in the world of obd warrants and great news. Enjoy
@Newuncle. I will take your 18p and raise you to 27p or even to 36p or, or. What is your point? That Birrows will sell OBD shares to cover the cost of the options? OK. So if he can get the price to 50p then good for him and fkaming good for you, me and anyone else here who is under water
But first I'll contact Samsung, because last time I checked beyong isn't a word.
So why flipping replace it with it!!
Think we need someone with a bit of legal prowess here, so we understand it a little better for coming to assumptions of what it entails.
Who is to say wombat isn't right?
Or are we being raided?
It's beyong my wheelhouse I'm afraid, it's seem incentives based, but dubious at best.
But I'll.hold for a bump in price for sure till.i know more about the legalities of it
Because he doesn't have to spend a penny of his own money exercising warrants . If he exercises say 1million at 9p and the shares are valued at say 18p he can sell half to cover the warrant costs and gets the rest for nothing. No risk, no outlay required, simple and easy money. You can adjust accordingly for lower or higher potential prices .
Started: Kingalf, Today 16:12
Last post: Kong1, Today 18:43
How can you believe what Burrows says when something like this happens.
Huge wages
Bonuses
And share incentives
The man is milking this for all it’s worth. It’s a total disgrace and a huge slap in the face for shareholders that have bought shares with their hard earned wages, to be lied to and mislead the markets.
The nomads are not much better by letting this happen
Shame on you.
Ha ha ha
Utterly unbelievable!
Burrows is useless at 'driving' the company. It has tabked under his so-called leadership.... now he gives himself 3% of the market shares and for what?
I got out of this share sometime back as it was clear what was happening. I only had it on my Watchlist so I could be 'amused' at the BODs inifference and downright immoral tactics.
So it's finally time to resign Burrows to the dark pages of the filure bin.
The only winner here is Burrows. What ever happens he keeps sucking his over-inflated salary yer-on-year. Likewise giving himself massive blocks of iotions is a win-in-win. No capital loss and all potential profit.
I hope this somehow does make PIs some profit, but there are times when you dump a company for good.
Good luck to those seeking something from this. Rhere are so many more opportunities here to give better odds.
Try TRX.l..... year on year consistent 20% growth, expansion plans always bearing fruit and a damned good BOD. It's heading towards decent profitability and worth considering.
Yes I have shares in them but its not a 'pump' its simply giving those who are not aware of them what I think is a decent, honet tip.
Bye bye to this board CIAO
Total joke, but they obviously see 9p as a target, and my average is 12p, so that 5.2p buy has paid dividends there, my one and only top up since the disaster, tiny but extra from me, I could probably recoup 90% this investment back.
All things considered, I'll take that
And of course it's like having a free bet at Ladbrokes getting warrant options, no upfront money required, can cancel them any time if above market prices, can exercise by simply taking the options and then selling using the cash generated to pay for them. Some will say that these things incentivise management....maybe that's what they were originally designed for but back in the day CEOs did not earn the kind of salary and bonus packages they get today. Now they are a freebie which can pay off very nicely just for doing your job.
Also seems a bit lob sided when Burrows gets virtually all the option shares and hardly any left ever for anyone else......
10,665,020 options over its ordinary shares of 1 pence each ("Ordinary Shares"), to certain Group employees,
10,150,020 options to Chief Executive Officer, Dr Jon Burrows
Started: Reserved, 18 Jun 2024 15:12
Last post: Newuncle, Today 14:10
Btw please don't feel the need to empathise with me on my previous situation, all clear for 6 years now so all good thanks to a skilled surgeon and amazing robotic technology via the NHS
Well Dusty at risk of breaking my purdah here, there is an old saying that came to mind with OBD's delivery performance here (the product/science I aint got an issues with or the potential markets etc plus the extreme good they could do in the process for men with suspected PC or a family history of PC as I have been there, has the biopsy and the surgery that save my life in the end).
No one wanted PSE Test to be widely available more than me as I remember the day the specialist told my biopsy grades were 4/5 and 5/5 which is virtually a death sentence and I would not wish that experience on any one ever.
You can't put lipstick on a pig where OBD's commercial nounce is concerned, no matter what other numbers are used to dress them up. You may be waiting a while for some really good news here but I am sure Burrows will want to feed something to the market whenever he can.
Sorry new uncle, but it's just sounding off which I cba hearing at this point, months of it
🤐
No s h i t sherlock
Started: GIVMESUNSHINE, 19 Jun 2024 14:10
Last post: GIVMESUNSHINE, 19 Jun 2024 14:10
I know in coming across over positive - thats not the case - big there was some big thing in that presentation - One thing almost totally overlooked on here from yesterday CIRRT - £9million Grant funded, with a pretty urgent timeline IMO
OBD down to the last 2 on the shortlist, the only applicant with a test Cirt ready to use? This process started in Jan24,
Next Steps
Final meeting 26th -27th June 23
Funding July23
Project Start August 2024
https://www.ukri.org/opportunity/cancer-immunotherapy-response-research-platform/
This is really big news (if they get it) but if they dont , i'm not sure who will. all the talk about transform - this one is very relevant - Ive read all of the Cirrt page and scope documents - it fits like cinderellas shoe (on cinderella😊)
Last post: Kingalf, 18 Jun 2024 20:56
As everyone has alluded to already, the cash calls will wipe out existing shareholders. You either stay in the game by keep adding more funds on each cash call or your only hope is some kind of merger or partnership deal.
Cash burn has to be at these levels. We need credible people and they are expensive. We also need our own labs if we are to be taken seriously. It takes time for new ways of doing things to be adopted by medical professionals who don’t want to be sued, if it all goes wrong. We are still in the foothills of commercialisation and it simply is not reasonable to shout like we should be any further on. We can argue until the cows come home if previous announcements were accurate and if Burrow’s over-reached. Given the regulators are not making a fuss, I can only assume that no one on here ever made an actual complaint or if they did, it was not upheld. No one likes to be in the red, but remember this: we are invested in a company that will rocket if just one US hospital group adopts the PSE test.
Put it in the bottom drawer and come back for sales update. Anything more will just give you an unnecessary ulcer.
Started: xxProInvestorxx, 18 Jun 2024 09:47
Last post: Dustyslay, 18 Jun 2024 15:23
Sorry you miss my meaning, my avg is 12p now, from 32p, buying low 5.2p.
All I'm looking for us for it to eat into that loss short term so I can get out recuperate as much as possible
Clearly OBD can't fund itself in the near term via sales, so it's all about spending cash raised to keep the business alive, pretty shocking really. Burn rate is frightening and means another cash raise will be needed before year end imo
Unfortunately Dusty, this is extremely unlikely to hit 12p any time soon, if ever. While there has been a little recovery after the initial large drop this morning, I expect the overall trend over the next few weeks/months to continue downwards. The Bod have outlined the need for additional funding within the next year and with the share price likely to drift lower and lower, any raise would be highly dilutive, if they can get a placing away at all.
Sales of the test kits has been, at best, pitiful. Cash burn is crazy given where the company is, and talk of any 'deals' was pure fluff designed to get the placing away as I said at the time. Look at the Bupa deal, hardly had any effect on sales or the share price. Also look at the post from ADVFN on reaching the target of 1000 tests per month, even doing so OBD will still be haemorrhaging significant amounts of cash, they need thousands of sales per month to merely break even.
To see any sustained rise in the share price, significant positive news would have to be released, and given where the company are, this is extremely unlikely. Sales would need to increase ten-fold as a minimum or a large pharma licencing deal struck with actual financial payments. Also note the broker report published below, pretty bleak outlook for a house broker who are usually overly optimistic.
Broker Coverage today:
Financial performance muted for now: OBD is still relatively early in implementing its plans to maximise the commercial potential of the EpiSwitch platform and we believe that efforts have been highly creditable given current resources. Revenues of £0.33m remain modest although we note that revenues continue to lag sales particularly with CiRT, where the majority of sales are reimbursed by US insurers. Growing sales of PSE should help redress the balance given that 19% of orders are currently cash based and the expectation is that this will increase. For the future, the sheer size and opportunity of the PSE test once successfully commercialised is the key to supporting future financial independence of the company and the company achieves its 1000 tests per month objective. Inevitably, the increased activity generally with increased lab space and additional (more experienced) sales hires as OBD seeks to optimise its commercial business model has led to increased costs and an operating loss of £6.0m. We note that the company bolstered its cash resources by raising £9.9m gross in March 2024 and we look forward to the potential for the company to secure partners for the canine cancer (EpiSwitch SCB) and colorectal cancer (EpiSwitch NST) programmes which could boost cash resources. House Stock
Wish you luck Dusty.
Last post: Kong1, 18 Jun 2024 12:37
Givemesunshine
Are you sure your figures are correct
It clearly says H1 is a £5.99m loss
That’s £1m a month !
If I’m correct and you say £10m in the bank as of April 1st
That means by aprox December 31st they will have no money in the bank.
So in theory they should be wanting a funding raise around October.
With the share price dropping the number of shares needed for a funding will impact significantly on the numbers leaving shareholder value in tatters
If those ITK believe then should be huge buys at this price.
The fundraising, announced in March 2024, of £9.9m (before fees) was a significant focus during the period. We were pleased to raise these funds to support the Company's near-term activities in what were and continue to be challenging market conditions.
Challenging market conditions....what kind of garbage statement is that? Are less men being diagnosed with or getting prostate cancer, no of course not. Facts are they still can't sell test in any volume whatsoever....because its over priced and under validated.
My 40p is a bit far off w⚓️s
I'm not buying in hope of a brighter outcome, simply putting a buzz saw to my average at 5.2p bulk, and taken advantage of a claw back to draw out as much loss as possible. From 33p to 12p, so each penny contributes a massive difference to my loss, then I'm off.
Started: tahmass, 18 Jun 2024 11:06
Last post: Dustyslay, 18 Jun 2024 11:17
Man, trying to see the light through the complete darkness here!!! And you just took my flash light!!! Ssshhhhh
There are large sales even at such low price .
This will drop to below 4p within 2 weeks .
I bought at 35 pence so no point of selling as have lost near 80% already .
Started: Mekas, 18 Jun 2024 09:48
Last post: Mekas, 18 Jun 2024 09:48
Apart from all the things to put you off, what puts me off slightly is that I feel Jon Burrows earnings for 2023 (336K + 200K bonus) being over the companies revenue for the year, seems a little bit overly generous to me.
Last post: sitiain, 18 Jun 2024 07:51
Dipped my toe again here last month due to the tech . It’s hopeless
They need a complete revamp
More cash
New board
Why do I bother with AIM
They will need money again come the new year and what is going to change . 🤷♂️The prostrate test is the only chance and they can’t sell any . Need a big swinging divk in charge . They won’t be able to attract one . Best sell tech to pharma because they will be picking not up for pennies soon as it goes bust
Started: DugWalker, 18 Jun 2024 07:50
Last post: DugWalker, 18 Jun 2024 07:50
Seems the staffer that halted that by going on holiday hadn't returned yet.
When they inevitably launch another test in a few months time I hope it identifies biomarkers indicative of commercial nouse. I'd personally buy one of those for the entire senior management team and make a significant contribution to boosting sales in the process.
Last post: Dustyslay, 18 Jun 2024 07:17
This may be acceptance day
Surely all the positive RNS released over the last few weeks wasn't an elaborate ploy to talk the shares up for friends to off load. Slightly cynical I know but you never know with this lot. Still we don't have to wait long to get a true indication of what is actually happening.
Started: Amica1, 11 Jun 2024 18:59
Last post: Amica1, 11 Jun 2024 18:59
I read this BB from time to time as the product seemed good but the company useless in every way.
I still recommend W7L as it's just going from strength to strength - best run Co. on AIM many say.
If like me you lost money on OBD, you can make it up on this. Investors show tomorrow.
Started: worst, 6 Jun 2024 07:36
Last post: Dustyslay, 11 Jun 2024 15:33
I've said it in the past, it's all about traction.
Marketing it, getting it used in as many areas as possible until it becomes highly sought after.
And that would never take a few months
IMO cashflow isnt the key thing here at the moment - lack of uptake / growth with a high cash burn is the issue - investor will happily fund growth stories with a plan that is delivered to, last results showed that plan had at best "stuttered". and we voted with our feet..looking at the net cash used They are fundend to March -April 2025 imo as Cirt reveunes and PSE to an extent are delayed and without any growth from here should ad $1.5 million on top of research, PACTand Tax credit
this finacail year, lab cost capex is now sunk, but we have additional senior staff . so hard to tell - but any uplift in revenue will make a big difference
There cash flow is a problem, but man what a product. We have to give this time, I've always been in that mindset once I knew the sales was low, and I've not topped up once on the way down until this bottom has presented itself, I expect a potential placing and will see what that price entails and I will buy cheap shares on better news
True - TBF this was on made "avaiable" at the end of september, US code 5 months ago, and UK Lab 2 months ago - I think it imprtant to not get ahead , but i dont myself think those timeline are very long in this sector . They must have been talking to TLC for some time to be able reach that point so soon after UK Lab
But they do have too many irons in fires without enough fuel to keep em all going without growth so its an important year
It's the old adage really, the longer you hold a stock, the less risk it becomes. Hold this long enough, these things will improve over time. Too many oncology companies fighting for a slice in this market, a lot of products ranging from medication, testing to end of life.
I think that should have been put on the packet, to say it would fly off the shelf was a crime in itself, but there over confidence is a positive, as it will eventually become apparent it's as good as its written on paper after being in circulation 12 months
Started: Kingalf, 6 Jun 2024 14:18
Last post: Kingalf, 6 Jun 2024 14:18
Unless we get a massive order, participate in a major trail or there is a bid, I just can't see these going up. All the positive news just allows the bears to off load. 01234 you are more than likely right.
Started: Pensioninvestor, 6 Jun 2024 08:32
Last post: 01234, 6 Jun 2024 11:31
The market is telling you everything you need to know. It’s positive good news but it also means not only will sales be way off but also the product still needs validation . Cash raise is now nailed on here so wait and see where that settles . IMHO
If we could just get to the 10 p mark it would be some good news.
The National Cancer Institute (NCI) is the federal government's principal agency for cancer research and training. Established under the National Cancer Institute Act of 1937, NCI is part of the National Institutes of Health (NIH), one of 11 agencies that make up the Department of Health and Human Services (HHS).
Started: Waynesmith, 5 Jun 2024 09:00
Last post: Kong1, 6 Jun 2024 07:31
5 years to wait before results
Mmmmmm, not sure the company will make another 5 years.
That is great news…but you’ve literally spelt out it won’t make any money for 5 years
I'd put Dug in charge, he seems to know the ins and outs of the company's failings, can maybe get things moving. Do a rolls royce, ceo boost
Best news would be seeing Burrows and FD resign
Need some very good news now
Started: GIVMESUNSHINE, 4 Jun 2024 16:33
Last post: GIVMESUNSHINE, 4 Jun 2024 16:33
Looks like something that has been put together as part of a presentation - to oncologists IMO
https://intheloop.oxfordbiodynamics.com/blog/no-tissue-no-problem-how-a-first-of-its-kind-blood-test-optimizes-patient-management-in-oncology?utm_medium=social&utm_campaign=blog_sharing%20
Started: GIVMESUNSHINE, 30 May 2024 15:04
Last post: Dustyslay, 4 Jun 2024 13:07
I mean we all sat there in October, waiting for the rns like it was a taylor swift concert and they sold in minutes, i kinda feel stupid haha but oh well, I've not sold because it has the bones of a good investment, its only really got up and running this product so I was always going to give it more time
I may buy more, just biding time to consider
I didn't lose faith perse, more dismay at how it was portrayed and then fumbled, but eventually this product will get up and running, I think naivety across not just the forum but the company in its market traction has killed sentiment, but I never sold I just held and went away
Im in the same boat - cant read all the rubbish posted on here, im far from convinced, but that TLC news is a very good one IMO and woke me up, However is does serve to demostrate the lack of faith at the moment. I was a buyer again sub 8p purely on the fact that they have bought time.. It funny how the market works - PSE was released - MKT Cap went to over 100milion in days - with no sales and only £5 million in the bank (and stated clearly they nneded funding before Jun2024) - now making progress - got £10 million, signed two good deals and only £22m - shows the contrast in investor confidence / mindset. I think even JB skin isnt think enough to not understand the reaction.. sentiment can change very quickly as we have seen -GLA
Your definitely bringing the sunshine fella, I've kinda switched off from readings on this investment last 6 months, so I appreciate your hard work and bits of journalism finds to reignite the enthusiasm here 👍
Finally seems to moving from the bottom, let's hope the meeting on the 18th pushes this to the surface, rather than it sinking again as was the case last time.
Last post: Prion25, 4 Jun 2024 09:00
Don’t underestimate the involvement of veterinary science and its contribution to human medicine
https://www.ncbi.nlm.nih.gov/books/NBK22905/
and my personal experience of veterinary diagnostics
They are seeking a partner for this and appear to have done that priliminary work already, Hence the nect step. .. not going to use any real cash, nothing to get excited about either at this point in time, but good news in general .. All have huge markets. still think we have lots of news floww to come with PSE/Cirt this year - TLC is a huge step frowards for both -GLA
Bets are open
How long till Dug changes had tune on any rise
1 day
2 day
3 day......
Etc
Started: Pensioninvestor, 4 Jun 2024 08:55
Last post: Pensioninvestor, 4 Jun 2024 08:55
I'm no XL Bully but Burrows is one sad individual.