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Pilgrim1 you really do sound like a prize turkey. Design freeze comes before Approval and Sell, don't you know anything. Have you forgotten the last time they said they had a test ready for production.? It got disapproved for being too inaccurate. Omega are like a bunch of amateurs sometimes, and by the way your post is terrible.
Another classic idiotic post from MIKODX. It's shame they've got all these tests in for approval isn't it...be much better if they had none! Just fyi Mike, the way the world operates is 1, Gain approval 2, Sell it. It doesn't work the other way around unfortunately. BTW, ODX don't approve the test themselves..it's third parties that work to their own time scales....good post though other than that
Think I'll stay sat on the side lines for now - needs solid news on purchase orders. I think until then this may drift somewhat lower.
This stock could go one out of two ways. Either the life saving Lateral flow tests gets approved and this rockets to minimum £1.50, or it doesn't and they slump down to 20-25, if they're lucky. Omega seems to have a lot of tests awaiting approvals, or tests being trialed, or tests been approved but waiting further approval. Never any concrete news that they have won a contract to supply.
Yes be very careful if investing any further in this stock. I am very tempted to top up at the current SP but I've topped up twice now and want to start seeing some results. I'm sure something will come through soon but I'm starting to fear that getting the Mologic tests distributed abroad is going to be trickier than they thought, and there's no guarantee that the lateral flow tests will be approved either. But this is the AIM for you, it's a gamble that could go either way. Just DYOR, put your money down, and hope for the best. Good Luck!!
yep....the management here seems to be drowning not waving & what good newsflow can one reasonably expect in the next month or so?
tp 25p (before any solid progress)
My hope and belief is the call tomorrow will highlight more - why steal that thunder all in this one RNS
All conjecture Dibs, entitled to a view but you have no more idea in regards cash flow than anyone else. Their balance is ok and fit for 12 months. Margins are excess and incredibly we want huge, great expansion because they should and now we question existence
My sentiments exactly dibs. What the hell is going on here. They must still be influenced by ex directors inmo. Its interesting everything seems to have started to implode when the institutions started to leave.
Any way just off out now to buy some stale bread and put it into a omegas shareholders basket. Probably just send it to head office and get them to pass it on with the annual report.
In terms of valuation. Well the best bits have gone or are about to inmo. so they really do need to come up with something .
remember my first sale of stock. You could not understand why. Well this is exactly why. i read this correctly. Covid hopefully will be their saviour. If not well we all know the true valuation of this now. Dont we
I'm an awful proof reader as you can probably tell by my posts, and that hundreds of thousands bit jumped straight out at me... How the hell did no one at ODX notice it??
Dibs
Do you ever get bored of being so relentlessly correct when it comes to this stock? Lol
Thanks for your input as always!
Atb
People should not jump on typos by junior staff. What really counts is the future cash flows . If the lateral flow works bingo sp multiplies if not falls by 50% imv. Meanwhile good risk reward at this sp - expecting a small rise as it recovers short term.
If you are thinking about topping up or jumping back in. Be careful. At this price the company is still valued at a generous £60m MC. There was ZERO mention of orders or sales in the RNS. I appreciate its 'just' results but they did give an outlook and there was an opportunity there to put something in but nothing. Which means there is nothing.
A few other red flags for me. Littleport isn't operational until October! Who knew?? No one here I'll bet. Food Intolerance progress in the US has completely stopped. China progress stopped. Pandemic has affected their Q1 revenue. We were told before that operations were fairly normal. My conclusion is that their revenues and thus cash flow is very poor and that is actually part of the reason for the cash raise but has been hidden by all the other goodies such as promises of new lateral tests.
The 'Scotland and UK' comment was just absurd - schoolboy stuff. Who proof reads this stuff?? And finally the mention of 'hundreds of thousands' beggars belief.
It is very sad as I once had a lot of faith in this company but they are making a proper dogs dinner of this.