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oh dear - another rns and another director sell - this is beyond a joke
Computer must he very cold out there tonight under your bridge. Why don't you hug the other trolls and keep warm.
There is zero need for personal attacks no matter who they are aimed at. In the bin you go.
Oh my god , have you actually looked at Bigjocks twitter feed, he’s a very angry man.
I’m now sure Colin probably does know him, everyone in a town knows the nutter on the park bench drunk on buckfast, shouting at everyone
responses would look a lot better coming from them rather than some random...
why can omega not just do a q&a and release it on their twitter account and save all this he said she said... they have a PR company cant be hard to fire questions in get answer and post! jeez....
@Bigjock36 :”He has been happy with me posting them via Twitter “
So our mild mannered CEO is happy to provide investors update via some random on twitter that abuses people on a regular basis,?
So how that doesn't seem right
spot on newboy - lets hope for radio silence unless something very positive and meaningful
@Bigjock36: Actually it was innova themselves
Daniel Elliott, of Innova Medical Group, said the UK was his biggest customer, with hundreds of millions of tests already delivered and a total of one billion expected by the middle of next month.
Innova, which is based in California and owned by the private equity firm Pasaca Capital, is in discussions with pharmacy chains in the UK to sell direct to consumers. It is building a factory in this country to satisfy demand.
Every time we get excited for an RNS it's either, "just to let you know the rumour you are all excited about is bull s h I t, we don't have any sales orders yet"
Or
Directors can cashed in hundreds of thousands of options at 15p and sold them immediately for 80p, done very nicely thank you very much"
Let's see what the next one is
To be honest i don't think anybody predicted the tests clinical validations taking so long.
The end is nigh....
Next week i reckon.. Or not long after
Still the Directors are set up for life, milking it for all it's worth.. that's the main thing isn't it.... Sod retail..
Following this exercise, Mr. Rhodes has today sold all 300,000 Ordinary Shares at a price of 79.3086 pence per Ordinary Share. Following the above transactions Mr. Rhodes holds no Ordinary Shares but holds options over a further 1,080,406 Ordinary Shares.
https://www.lse.co.uk/rns/ODX/directorpdmr-shareholding-and-total-voting-rights-z3ae4virb9eaksk.html
I appreciate you posts Bigjock36 but let's face it this has been painful.. I think we will all be dead from old age, never mind Covid by the time the factory is actually filling sales orders...
Its unlikely innova would be looking to build a factory from scratch, I think anyone with a ounce of common sense would expect them to take and existing building and fill it with equipment, in much the same way as ODX have done for the DHSC contract.
It was your good self who stated they would build it, so no the common sense scenario goes out the window. So simply buy a factory and fill it with equipment mr computer? We are not battery farming chickens here mate, this is purpose built machinery which was imported over, and also specifically provided by the government which has taken several months to put together. So let’s say they do manage to do all this along with hire staff and “train them” which omega are currently doing just now. So we will scale it back to 2023.
Again I win this argument by quite a far measure :) you may be good at pinging answers back quickly but I am enjoying pulling them to pieces.
You are only making omega look better and better with every response.
And no, I will not post my questions and answers via official channels. He has been happy with me posting them via Twitter and here for a considerable amount of months and 1 sad little weasel like you will not dictate to me how I do things considering your reputation is null and void on here
@Bushmaster: "Capacity is the right word, unless you are committed contractually, then you need to deliver."
110% agree, hence my issue with ODX changing their approach to the tweets in feb, as you say we expect to find out very soon.
@BigJock: "Really poor attempt at an argument - Markets looks forward",
It was you that tried to justify the 2020 loss with an impairment charge that was from the the previous year, not me, markets look forward very true but are always aware of past performance, unlike you it appears.
Its unlikely innova would be looking to build a factory from scratch, I think anyone with a ounce of common sense would expect them to take and existing building and fill it with equipment, in much the same way as ODX have done for the DHSC contract.
Perhaps Colin can answer investor answers via the official channels
@BigJock36: The impairment charge you mention was accounted for in the accounts for year ending April 2020,
https://www.omegadiagnostics.com/Portals/0/RNS%20Results%20FY20%20Final.pdf, The £2.3M loss we are debating was from the latest trading update so covers the year to April 2021
Really poor attempt at an argument - Markets looks forward
"A final point I would like to make relates to Innova, could you Imagine if the Government were to bypass UK companies going forward and continue to order from them?"
How does this statement get changed if Innova build a factory in the Uk employing hundreds of staff, as they have stated they are looking to do?
Another very poor answer, imagine how long it would take to actually build a factory... that’s once they have purchased land and had planning permission etc etc etc ... say 2024. Omega would have cleaned up by then
Computer, your attempt to de-ramp is a poor one and laughable. Imagine sitting there all day replying to messages .. all day....honestly it’s beyond sad
As for Stu- he has posted 39 messages and as far as I can see every single one is about me hence why I filtered him. He must have issues. Scary to put it nicely.
So that’s JADam/computer and Stu all shown the exit door.
My price prediction of March/April at £2.50 of course I am hopeful of and if the government contract is finalised prior to the end of April, I don’t see why not. I am hopeful the government will update us on the test to use imminently.
Colin has promised answers tomorrow to more questions I sent him, as soon as I receive they will be posted on here
Like most of you, I am just a normal guy trying to help and state my views.
Computer909 - Capacity is the right word, unless you are commited contractually, then you need to deliver. One thing is for shxt sure, we are going to find out very soon how the land lies. As for the 'statistical exercises' that is dodgy ground to be on. If they are led by science, then science tells us currently they believe the vaccine is good for 6 months, but in the real world that cannot equate to everyone. Are we saying on month 6 the stats tell us to run to the tent for a jab, I can't see it myself. Everyone one will have different rates of antibodies, when a test needs to start to check is the real question, and then how many after that will each person need before they have a top up booster, or a re-jigged Vac - That is what is goint to call the numbers on these tests, I can't see one company having the market, preferred or not.
So whats this consortium antibody test thats being scoped for use in events over the summer and beyond?
https://www.google.com/amp/s/www.dailymail.co.uk/sport/sportsnews/article-9430339/amp/Football-rugby-talks-firms-20-vaccine-passports-allow-crowds-return.html
@Bushmaster: "Not sure on the narrative comment, park the TT, its been pretty consistent in terms of what is going on, numbers expected to manufacture etc since Jan"
I would agree with you in the most ODX have been very consistent with the "Capacity" figures so they couldn't be held to any revenue commitments, with just two exceptions, the two days before the PMDR sales (16/2 & 17/2) , they switched to we will "Deliver", once the sales were complete they switched back to "Capacity", that didn't quite sit right with me.
a good well reasoned post Porky
the only way you could spoil it is to say you read the Guardian :D
@BigJock36: The impairment charge you mention was accounted for in the accounts for year ending April 2020,
https://www.omegadiagnostics.com/Portals/0/RNS%20Results%20FY20%20Final.pdf, The £2.3M loss we are debating was from the latest trading update so covers the year to April 2021
"A final point I would like to make relates to Innova, could you Imagine if the Government were to bypass UK companies going forward and continue to order from them?"
How does this statement get changed if Innova build a factory in the Uk employing hundreds of staff, as they have stated they are looking to do?
"To me, that looks quite an impressive position to be in",
If/when we get a statement of Tech Transfer completion and some actual supply contracts, then that would start to look impressive, at the moment we are just giving free warehouse space to the Government equipment, if we don't get that in April then we just simply go through the same empty promise and no delivery we have seen for a year, remember "This April we will deliver 2M tests per week"
@Bushmaster: the Revenue details were taken from article posted by @Junior2020 earlier in the week, https://www.investorschronicle.co.uk/news/2021/04/14/testing-demand-buoyed-by-lockdown-easing/
With regards to the ABC-19 test, the government have already shown a preference for the Fortress Antibody test, they have already stated that the task to determine when the booster is needed will be a statistical exercise rather than full scale antibody testing for the whole population.
I'm of the opinion that Antibody tests are going to start gaining increasing traction worldwide going forwards especially as we move towards "do you need an annual booster" "have you had the virus" "have you any antibodies" lets test to see where you stand. Massive potential imo.
With massive growth potential in this area alone frankly it doesn't really matter whether ODX manufacture Antibody Tests all day long or Antigen Tests, just as long as they can manufacture per se and get volumes up to full capacity.
Bloody frustrating that despite a cracking £ 374m potential order and extra equipment lined up to go full pelt at production still awaiting an Antigen Test. It will come. I have a bias towards Novacyt as many know and I'm hoping that IF ODX don't get an approved test to start manufacturing anytime soon that Novacyt R&D release one for ODX to manufacture. Something needs to give here for sure. It's currently farcical not to be manufacturing whilst the government chuck £2.8bn at the chinese on low quality tests.
Anyhow as i say, Antigen Test or no Antigen test i'm convinced Antibody Tests longer term will be big in their own right,
Good luck to you all
Pork's
Computer909 - Not sure you can compare SourceBio to Omega, their turnover before this was a lot higher as well as their SP. EFK I haven't looked for a while, that turnover, is that from 19/20? I wasn't aware 20/21 full year revs where out yet. Do you know their gross profit % and net on their balance sheet?
If you are right on the ABC test, not sure where that puts them. "we hope now for further use in a surveillance roll, but that is likely to be a very much smaller statistical based use" Are you saying this will not be rolled out to know when a individual will need to either have a booster or a new vac due to new variants?
We don't know what test, but maybe CK does already, if not, then what have they been manufacturing, either something or nothing - Omega have stated in an RNS/tweets that they will be able to, or will be manufacturing 2 million per week, whether this is end of April or the 1/2nd week in May is unclear. But at the moment, the fact is this what the company has stated.
The SP I agree, seems to me its being traded and with no II's on board its been up and down more times than a seesaw in the last few months. I think its clear the market needs to know what the initial contract (s) are for a re-rate. Not sure on the narrative comment, park the TT, its been pretty consistent in terms of what is going on, numbers expected to manufacture etc since Jan. I also think many LTH's from back in April/May last year are more than happy, hard to moan about the rise up till Nov last year. Bear in mind we got hit with everyone else on the first Vaccine news, that did no favours to the SP which was in sicking around the 90's.
I am hoping once we get contract RNS's, II's will come in, a few TR1's will settle the SP down and give some confidence to nervous PI's.
Computer909 the loss was due to the impairment charge of £8.73m which related to stopping the ongoing development of the allergy range:-
"The decision to stop the development of further allergens has not been taken lightly but we recognise we can achieve better returns from directing our development efforts in other areas and we look forward to providing further updates as the opportunities we have in front of us deliver on their undoubted potential."
The company has been gearing up to hit 2m per week and April is now upon us. This has been months in the making to hit this pinch point for the Company. It has to be agreed that the ability for Omega to change their business model in such a quick timeframe has been nothing short of exceptional.
The CD4 demand is aligned to the Finncap note which are orders from Pepfar etc coming in q2 for low/middle income countries - This will be another string to the bow of Omega with c65% margins.
Simon Douglas has been appointed of recent to help build the business as of February:-
"I am delighted to be joining Omega at such an exciting time in their development and growth. I look forward to contributing to the continued growth of their core businesses in infectious disease with their lateral flow CD4 and Covid products, together with their Food Intolerance business, a market leader in this sector, both of which have an exciting future."
As stated in the Q&A - Colin has been speaking to DHSC for a considerable number of months and no doubt, he has based his recruitment drive to tie in with the information received from these meetings (potential orders etc etc). Also his extensive research of supply/demand within the UK and beyond.
We will be in the fortunate position this month of having the ability to scale our antibody/antigen testing to suit the demand required over the next few months/years and please remember, the UK Government want a UK supply chain (Which Omega are at the heart of).
Omega have carried out all the hard work, won the contract, scaled up the staff/capability and now await the Government finalising the test which will be used.
To me, that looks quite an impressive position to be in and with Antigen/Antibody testing both being pivotal to opening up the Economy - we are in an extremely strong position as investors to enjoy the plethora of news which will unfold.
For a company to comfortably confirm that NO PLACING will happen and paying the wage bill of 250 staff (confirmed in March), it shows the confidence they have for the business going forward.
A final point I would like to make relates to Innova, could you Imagine if the Government were to bypass UK companies going forward and continue to order from them? This will not happen, once everything is in place, UK companies will be utilised (unfortunately, Innova are the only company currently with self test approval from MHRA and with the govt offering tests at home, this will be the likely reason). This will
Well there taking on extra staff ,so id assume that is because the manufacturing more.
Its a good price as it stands and should be around the 100p + mark in next few weeks