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PI100,
The last time there was an RNS for CTDA approval the share price rose 9% that was along with some director shareholding buy RNS.
The IFU listed in the CTDA register is issue number 5. I can't find a copy of it. Does anyone have a link for it. Here are the links that I have for the previous winterplex IFUs
https://www.genesig.com/assets/files/Path_SARS_CoV_2_Winterplex_IFU_Issue_100.pdf
https://www.genesig.com/assets/files/lightcycler_winterplex_colour_calibration_ifu_issue_1_02.pdf
https://www.genesig.com/assets/files/Path_SARS_CoV_2_Winterplex_IFU_Issue_102.pdf
https://www.genesig.com/assets/files/genesig_real_time_pcr_sars_cov_2_winterplex_assay_ce_ivd_ifu_issue_3_00.pdf
court documents have been submitted the link provided gives some details as to what has been submitted.
there will be a schedule to be followed which may lead to the case being heard in court if a settlement between the 2 parties can't be agreed
sorry neilrich3 things have changed.
perhaps their opinion and assessment of their grounds in relation to the legal dispute hasn't changed however it is now clear that should the dispute fall in the favour of the government in full then there is a doubt of the going concern of the company. that wasn't there last year.
I still think there will be a settlement but I have no idea how much novacyt will receive if anything. we won't know until we know and it's this uncertainty that is making novacyt look like a poor investment. too much risk and very little clarity.
PI100,
sorry for the typo
it was typed out as it's a scanned document so you can't copy and paste. I did say earlier on :) here's the link again
https://find-and-update.company-information.service.gov.uk/company/12031776/filing-history
Full accounts made up to 31 December 2021
Yes it's clear. It says so in the signed document. You can throw whatever hypotheticals you want at this some of which may turn out to be true in the future but you can't get away from the fact that the current CFO for novacyt made this statement and signed it.
what does it matter what I think?
The going concern statement does not mention anything about M&A activity nor does it mention "ringfencing" any monies for such activity.
It is also clear that the group would not have sufficient funds to settle.
This is what is stated in the submitted full accounts to companies house and signed.
its a statement which is true and representative of when it was signed 2/8/22
the previous years account gave a statement signed 8/7/21 that the company was good until July 2022 (i made an error in a previous post saying it was June 2022).
The bit above that statement gives the conditions of the going concern if you want to take a look. I can't copy and paste as it's a scan of the document
sorry I just assumed we were looking at the same document
https://find-and-update.company-information.service.gov.uk/company/12031776/filing-history
Full accounts made up to 31 December 2021
CaptainSwag,
It's on page 3.
"If however, Novacyt had to pay the full value of the claim in the period up to and including August 2023, then the Group would not have sufficient funds to settle the liability without agreeing a payment plan or raising additional cash. As a result of this, a material uncertainty exists that may cast significant doubt on the company's ability as a going concern."
The full accounts in the previous year indicated the company was good until June 2022
This has now passed and the potential liability has increased.
The recently published accounts correctly states that should full payment be required then payment plan or raising funds would be required.
The market is clearly dropping the price due to this and the lack of clarity over possible outcomes.
if you search on the genesig website for pox you get results but not for monkeypox
https://www.genesig.com/search
as mentioned by saintsmith this is in line with what DA has been saying about zoonotic and airborne threats . it's also in line with being a first responder
Blue83,
q16 and q32 were part of the original contract. PROmate looks to be something they were working on and then used as an alternative to exsig direct. my understand is they found the steps involved with exsig direct to be too many and taking too much time. PROmate appears to have fixed this. improved workflows. PROmate and the Q32 have received CTDA approval. PROmate and the q16 is on the protocal list. exsig direct is still waiting approval (if ever) from CTDA.
You could be right with regards to the product swap. Their argument may well be we've paid and received the exsig direct however we'd rather have PROmate.
Its the "performance obligations" in the contingent liabilities that really caught my eye. Along with
"The Group continues to believe it has strong grounds to defend the claim and assert its contractual rights, including in relation to recovering outstanding sums due from the DHSC"
outstanding sums is in addition to contractual rights. Contractual rights phase 2? ?