The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I echo all you say Doug.
But I probably lost more than you and I have had to curtail retirement and go back to work as one of the great unretired you will increasingly read about.
ODX was and is a scam seemingly set up to fleece retail investors from time to time. Of course ODX got shafted by the most corrupt government in modern times but then perhaps even the government took a second look at ODX and realised they weren't up to manufacturing at scale the LFTs. Who knows?
All I know is that until the end of last year, we were being continually informed that ODX were still in dialogue with the government when we really know that this wasn't true at all, because contract had expired.
So it's not about selling higher but relying on information and biding one's time and staying patient.
Honesty and trust are paramount here and it's high time that the sleazy world of AIM, that allows and enables toerags like Winnofroth and co to profit at others' expense with impunity, must be ended and those directors of limited companies who tell lies must be banned from future directorships and also prosecuted. They need to know that their actions have consequences.,
I am an investor not a gambler and invested I thought in a UK company that would make a difference.
It is all very well for those gloating on the misfortunes of others by saying that you should have seen the warning signs and got out sooner, but that is not investing but the responses of gamblers.
Investigation is required not least in the PR company who must surely have known about there being no prospect of a government contract at all.
I am massively under water but remain hopeful that the medical benefits of this drug will ultimately shine forth.
My niece had Omicron Covid and is 27.She is still unwell and medical examination has revealed a 30% reduced lung capacity.
One of her friends in London has the same lung capacity deficit.
Clearly they would have benefited from interferon.
So in my opinion, if there is a treatment that can be administered at an early stage, such as SNG001, surely the US authorities will recognise its immense benefits, and either SNG can get this to market asap or one of the big pharmas will surely recognise the benefits and do a JV or T/O.
Like Captain Swag and many others. I continue to watch with incredulity the failure of senior management to buy shares in their own company at this rock bottom value. I have lost a fortune on this share. I will not make the same mistake again. Did Tom Winn/Twatcher have inside information? Is this why he was ****sure of his position throughout? Or did he simply know more about the endemic putrefaction of AIM and that this is a basically unregulated ordure pit where companies can get away with virtually anything? The law needs to be changed that has allowed honest investors to invest their life savings in a company such as this that promised much and has delivered catastrophe only and treated its shareholders with total contempt.
We were all played along for too long with the expectation of the government contract finally dropping into place, when I fear the truth was that the contract was essentially one-sided only, the company knew this and didn't explain this, they also knew that there was no chance of the government giving the company even a minuscule contract when the choice was keeping China happy or actually supporting UK business. Brexit has certainly delivered success for autocratic regimes and enhanced Chinese manufacturing.
As Swag points out, £5k is 100,000 shares. That is a nominal purchase for any of these directors. A million shares is a stronger indication that the business may finally have turned some form of corner- now shorn of its Covid related business.
It has been almost 2 weeks since I sold out entirely, and crystallised a life changing loss. I was hoping to enjoy retirement but am now seeking employment again to try to plug the money gap.
Perhaps it is a feature of AIM which plainly enables a lot of risk taking by companies with other people's money.
I have to say I dreaded this BB due to the nasty negativity and the water-boarding nature of drip drip messaging from TWatcher in particular. So thanks to you, and I will try to repay your extreme kindness at some point in the future, no doubt like other stricken LTH' s on this BB. You should try to do something more generous with your time which is as precious as mine, and indeed everyone else grasping at straws on this BB.
I do feel better and calmer although massively poorer.
So the lessons- the management of ODX- if you can actually call it that- must know nothing of contracts if they plainly allowed themselves to agree to a worthless piece of paper with this corrupt Tory government.
They must have known months ago that nothing was going to happen and yet sat on this information thus misleading the poor shareholders. One supposes that if there had been an institutional shareholder then they would have exposed this fundamental deficiency in the contract.
I am ashamed of this government for how it has treated small companies like ODX and it would be gratifying to see a few heads roll if there is an independent root and branch enquiry carried out. I won't hold my breath however. Just look at the way the PM thinks he can behave- rule obeying is for losers not arrogant public school Tory entrepreneur swash-bucking buccaneering types. Deregulation of government has followed deregulation of the economy.
Wallbrook replied to a message I sent over Xmas - days late- and the main guy basically said keep it in your pants and don't rock boats at this stage since if we were questioning the government, and writing to MPs to galvanise them to take up the cause- then this might backfire with ODX's prospects of getting regulatory approval. He didn't seem to have a clue and obviously doesn't read this BB.
But there is no transparency at all on the regulatory front and we just do not know anything at all. A terrible limbo situation.
So good luck all LTHs- I will try to recoup my losses elsewhere.
I have already sent this to Ian Blackford and Neale Hanvey and Wes Streeting. There will be other politicians I will send it to,
Kate, I understand you vote(d) Conservative and live in the North ( Yorkshire?) Maybe you can write to your MP or one of the number of Tory working groups such as the Northern Research Group led by Jake Berry, which says it is aimed at boosting investment in the north of England, North Wales and Scottish Borders. OK, Abingdon are in York and similarly marginalised by deliberate government policy thus far, as are Avacta based in Leeds, and Omega are in Scotland.
The Huffington Post article exposes the serious mishandling and manipulation of the rules by the government.
People's health and lives are at stake here, and have been for as long as an unreliable test has been allowed to be used almost exclusively up to now.
So if Jake means what he says, then he ought to be able to pressure the government to start preferring UK made tests.
The more people harry and complain, the more this issue will get up the public and political agenda.
Like you, I have written to my MP and Ian Blackford of SNP who is aware of the Omega situation re the government. I have also written to the Guardian. I hope that one of the opposition parties and some of the more benign media ( ie not Torygraph or Daily Heil/Express) will take this on- the inexplicable delay in approval of superior tests is suggestive of deliberate calculation. After all, this is supposed to be an emergency so where are the superior home grown tests?? Merck and Phizer get their pills through via Early Boarding channel but we don't. More substandard Chinese mate's tests only for the moment!