The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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big bangs. Quite a bit of sensible thought in your post. Of course, the competent investor was no doubt aware of the contract details as its been in the public domain for months. It was a back-up contract for the DHSC. A simliar or completely new contract could be put to ODX in a matter of a few days if needed. Are we in a better position now? Dam right we are. We have c£17m if equipment on a free loan which ODX will probably acquire at a later date at a huge discount. This has vastly increased ODX's production capacity right at a time when the world is screaming for lft's. With no DHSC contract I assume ODX are able to use the entire DHSC capacity. Maybe ODX asked for confirmation from the DHSC to formally terminate the contract so that the decks were clear for commercial orders. Interesting!
bigbangs - thanks mate
tbh i use this board to vent and work out my own mind and weigh up my investment. if people were confused i don't think it was from my writing - but in assuming or believing others state that i was a paid shorter/working in a boiler room gang/ multiple identities / not invested etc etc. i made it very clear numerous times i was suffering being down by £10,000s but that i believed the gov contract would come through despite colin. the portfolio is great and the opportunity is there. that has been consistent throughout my postings
some feel i may have posted too much on colin - but you have to remember when you are being attacked on multiple fronts every day - if you respond to them you will end up repeating yourself
my attacks were also to hopefully get back to colin - one way or another. or at least build up some feeling towards getting him pushed. he comes across as a decent guy but....
Sorry I missed something, if at some future point ODX did receive confirmation from the DHSC that the contract was not only lapsed but they had no intention of utilising it in the future then of course they would have to report that but of course, if we are right, by that time we may have had the approvals we seek and the whole world would look different as we could now use the machinery for commercial purposes - result = rise in SP. At the very least we would have been closer to that goal.
So what have we actually lost? We have been exerting precious resources by sitting ready to push forward with a contract that has produced nothing for us although even as I type that I realise again that I am wrong. The truth is we are actually in a much better position by having gone through the process than not. We have the machinery in situ, all configured and primed for which we have effectively been given £2.5 m to get ready - we have accounted for the £2.5 million oddly but this is ODX. So by signing the contract we sit on c£20m of assets that we would otherwise not have had or worse they would be sitting somewhere else - however poor the contract terms this was clearly the right decision. TWatcher is of course right in that we should treat the Tweets with much more care (or disregard them all together) a comment that Okehurst has also made and I agree but I hope the tweet means that they have had confirmation from HMG that they can use the equipment. Seeking the advice re the expiration of the contract when they did was foolish, a barrister will never ask a question to which he does not already know the answer - it was a mistake to pursue a legal opinion at this time they could have justifiable said they have yet to hear formally from the government as to the position with the contract and that they would be pushing for a formal update (they do not have one). They could have also started a discussion on the benefits of the contract falling away and the opportunities to which that might lead in the commercial world. Finish off by confirming that they were totally on top of the approval process had fully answered the questions raised and remained hopeful that the applications would be successful in what they understood to be the near term. Job done SP 60p. That in my opinion is where we are - other than ODX did not say any of this and the SP is 26p. The worst must surely be over the opportunity for new investors not carrying the baggage of missed opportunities is good - still holding.
Hasiba thanks for the name check and your good wishes - ACA seems such a long time away but we came good there in the end - dividend paying shares for me going forward.
Captain, in hindsight many of you comments have proved to be correct but banging the same drum 30 times a day on a share in which you remain invested was confusing and your message became lost. Although I do not believe I did if I made any disparaging remarks I apologise but if you are staying, as I believe you are perhaps consider a change of approach that may be more valuable to all.
Blu : "we knew many months ago that the government were not obliged to take anything"
.....couldn't have said it any better myself.
agreed captain$
all that effort with scaling up for HMG , to have zero comeback or no minimum order fulfillment was rather stupid. we knew many months ago that the government were not obliged to take anything. which of course made ODX the governments *****.
the fanfare with which the government announced the three companies back in April and it would seem only surescreen got a decent amount of moolah.
still, would seem persons other than colin are now looking at opportunities so we can now rest easily , albeit with an absolutely decimated share price.
i would like to see CK gone, he should pay the price for this disaster.
blu agreed - the gov have been disgraceful.
however looking at their track record - eg ncyt - the contract should have been more robust. there should have been a plan b and plan c
There should have been a min figure. i intially thought that £50 -£374m had that written in with the £50m. clearly colin just signed whatever was in front of him .
sad thing about this is no government (DHSC) comment on shafting instead of nurturing the UK diagnostics industry.
looks like they have decided to stay with the chinese sh5t, which is an absolute disgrace.
"So today we know that a tweet saying "still have access to" the gov equipment" conveys no new information, and anyone just seeing the tweet (and not taking in all the info from (thurs) could be misled by its content"
especially with the pro investor article saying odx are cutting back on lft capacity. gives fuel for the pump and dump
Many including me have spent the last few days in retrospective mode. Its probably time to move on from that, but make sure lessons are learned where necessary.
So today we know that a tweet saying "still have access to" the gov equipment" conveys no new information, and anyone just seeing the tweet (and not taking in all the info from (thurs) could be misled by its content. It doesn't mean they can use it, we were told on thurs that they are in discussions to be able to use it commericially. And we also know how long ODX can take being "in discussion", so the tweet is at best meaningless and possibly misleading.