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if they don't release a statement....it could also mean that NCYT are at maximum capacity as it is already.....I'm getting the feeling they are very very busy ;-)
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Wouldn't it be novel if they actually told us that, or something, anything in fact.
Who are we selling to?, who's the mystery partner? Are we even talking with the DHSC or is at at stalemate? Are we supply anything in volume into the UK or ar we now relying on international sales?
It would just be nice to be given a little update, it doesn't need to be earth shattering, just keep us in the picture please NCYT.
I think we can all agree this government has been and is a shambles. They defend the indefensible, look after their chums
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Show me a UK government in recent living history that doesn't fit this description.
The irony is it takes someone with the narcissistic personality spectrum to even want to stand for this job to start with.
Who else currently serving (in any party) do we think has the teflon personality required to take the top spot? It is an absolutely thankless position to be in, particualrly now.
I just don't think Rishi Sunak has the right personality to deal with the abuse that accompanies the top spot in UK politics.
"Who do you think could be doing a better job right now?"
Anyone.
Pick a monkey from London Zoo perhaps?
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Really?
The frigthening thing is people with this perspective have the power of a vote and wonder why we're in this mess.
Who do you see as a viable alternative right now?
Who would you suggest replace him? Seriously. Who do you think could be doing a better job right now?
Whilst the the current incumbants aren't exactly showering themsleves in glory I don't see anyone as a viable alternative. Lets asssume it's not another party but an internal power struggle, who do you fancy taking over? Priti Patel? Michael Gove? How about Handjob, he's free at the moment.
We're living through a once in a lifetime event right now, no one would choose to be in power given the current circumstance, the last thing we need right now is a major change based on power and political posturing.
It's all well and good screamong for change, but without a realistic viable alternative we're better off staying with what we know until a realistic viable alternative actually presents themselves with a realistic viable alternate plan.
It takes as long as it takes. I'm invested here as unlike much of the opposition it's actually making money and only has 70m shares in issue.
My "punt" part of this share is the dispute will be settled favourably and in a reasonble timescale.
The "Market" has read the RNS and thought, awesome news, what about the DHSC Dispute? Any news on that....Let me know when it's settled.
There lies the problem for the SP. It has little to do with Algo,s Traders, tea cup charts or potential squeezes. All the time the DHSC dispute hangs over this share the SP will remain supressed. The sooner that's sorted out the better.
Nothing will look rosy until the DHSC dispute is settled. It's harsh laying all that firmly on the shoulders of GM.
The DHSC debacle is supressing the SP - little else, it's just a waiting game now that we know the sums invlovled, it's just a little frustrating we don't know the actual reasons behind the dispute.
Maybe the idea is get the results done and dusted and out of the way, knowing there will be some "noise" as a result of the publication. Then all other announcements can be made in isolation and not get lost in the "noise" of the results.
Today wasn't the time to announce anything new, if it were me I'd give it a week or so for everything to settle.
Got to agree with Big here unfortunately, it bears all the hallmarks of a civil servant simply being belligerant.
Easy to do when it's not your money and there's no real comeback on you.
I own a company, we have a couple of big PLC customers that I despise dealing with fortunately they are a small enough customer that if they both went it wouldn't sink us. I can only imagine haw unpleasant it is dealing with HM Gov as a customer.
So theoretically, they replace £20m of kit, and then get their payments paid.
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That looks like best case scenario to me. It's being suggest by others though that the real reason for the dispute is to avoid paying anything, but using a "not fit for purpose" excuse.
This seemed to have dragged on for sometime if it's simply no more than - "OK we'll replace it all - just agree to pay our invoices".
Tkr234 wrote:- Why are different posters stating different settlement figures,between app 19M to 70M.?
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Below is cut and paste from the RNS this morning explaining the two figures. These figures include VAT.
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The Board has formed a judgment that, in accordance with the contractual terms, and if required, it should be possible to replace the product in dispute and a product warranty provision has been made accordingly. The Board's best estimate of the cost to replace is up to a maximum of £19.8m, the timing of any outflow is dependent on settlement of the dispute. If no settlement is achieved and legal action is required, the timing of any possible outflow will be extended.
It is possible, but not probable, that the DHSC's claim for a refund under the limited assurance warranty will be successful. The timing of any cash outflow is dependent upon the success of the claim and the terms negotiated for repayment. If the resolution of the claim is materially different from the Board's determination of replacing the product, the financial statements with regard to revenue and the provision for product warranty could be significantly impacted.
Of the Q4 2020 revenue, invoices amounting to £24.0m in respect of product delivered to the DHSC remain outstanding at the date of signing the financial statements and recovery of this amount is also dependent on the outcome of the dispute. In addition, after the year-end, a further £49.0m of product delivered and invoiced to the DHSC in 2021 remains unpaid and is now also part of the dispute. The unpaid invoices total £73.0m and include VAT.
Agreed, but that assumes they accept replacement product, which as discussed above doesn't seem to be the real reason for dispute.
At this point in time and being in this position I'd be inclined to offer the £17m as a credit against outstanding invoices and then walk away with circa £53m. Which effectively is what was suggested above. You'd quickly find out at that point what the agenda is and of they are trying to wiggle out of the entire responsibility. Until then it's a £70M dispute.
The issue really for us investors is this is all supposition, we don't really know the true details of the dispute. Which is frustrating.
NOVICE42 Wrote:-
Exactly
Give them there proxy 17m and tell them never pick up the phone and ask for top class products again , go **** yourselves were selling abroad . Maybe why I'm not incharge of anything ??
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The problem is though it's not £17M it's £70M in dispute.
Honestly, I hope it's not an oversupply trying to wriggle out of paying situation as IMO that's more likely to lead to litigation. Prolonging the SP pain.
My (admittedly limited) understanding of the Innova situation is the UK Gov have "tested" and approved it themselves, so if they were to very publicy denounce it they would be very publicly stating their own testing procedures are ineffective and not fit for purpose. That's just not going to happen is it.
I wouldn't be surprised to find out in hindsight that a "D Notice" or similar was issued to the media with regard to Innova. The almost complete and absolute lack of meaningful coverage on the subject stands out to me like a sore thumb.
So having read this and applying it to what we've been given in today's RNS I'd assume that there is a problem with product supplied (exact problem and exact products TBC). Rather than allowing the company to replace (as per warranty terms) the DHSC have simply gone straight to the full refund option and held back funds pertinent to the invoices for the supplied disputed goods without giving the company the opportunity to replace.
The company is stating it's right to replace rather than refund - we arrive at a dispute.
Is that how everyone else reads it?
Do we still fully understand what the actual dispute is?
I have to be honest here I'm not entirely sure what the warranty issue scope is, is there anywhere I can read up on it?
Are they suggesting there's a problem with the product or something else?
Agreed, the dispute is suppressing the SP, but the foundation of the business, it's sales and cash position are strong, strong enough to weather the dispute.
It would probably be in the interest of your mental health to stop checking the SP every 30 minutes and relax and let the dispute take it's course.