Member Info for ak_gabba

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.

its the BOD that are worthless. The irony being they are the only ones making money out of this!

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

yes but I hadn't seen that pdf before. really good to see them being used dated after the original dispute date :)

thanks for the pdf share KilkennyTed. Excellent find! really good to see in writing that the q16 and PROmate being used

I've clicked on the link I was originally sent after I signed up and it shows me the recording

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? ?

predecessor surely? or do you know something we don't ;-)

"The business placed over 500 instruments in its MyGo product range in over 35 countries"

is this TATA?

a little confusing there. year ended dec 2020 its listed as £68k and year ended dec 2021 its listed as £157k

There is however a DHSC contract dispute costs listed year ended dec 2021 £802k

"DHSC contract dispute costs relate to legal and professional fees incurred in the ongoing commercial dispute"

I thought the receiver of the payment had to be employed at the time of receiving the payment.

other liabilities is £11.2m

"The other liabilities balance relates to the second and third tranches of the 2017 to 2020 LTIP scheme, which are forecast to be paid during 2022"

yes a bit of cross posting. no worries.

poidster thats really good to hear

thats what i'm saying. its suggestive that there were issues with the q16. reading between the lines so I may be wrong but I haven't seen that text before. Could the issues have stopped the roll out which in turn led to performance obligations not being met. if we throw enough guesses at it we might get a few of them right ;-)

not sure exactly however it is suggestive that the q32s are OK and perhaps the q16s are not or at least were not during Q4 20

there are some extra clues given. Do you know how the q16s are performing?

omicron was a pretty big wave. we were expecting a 50% reduction in covid revenues however Q1 22 is showing 67% decline. we are now expected full year revenue between £35m and £45m and thats dependent on the success of the non covid products.

Tomorrow should see the David Allmond presentation revealing to investors what the new strategy will be.

https://www.lse.co.uk/rns/NCYT/strategy-and-full-year-2021-trading-update-qgoeql7ul3x7i26.html

"Since joining on 18 October 2021, David Allmond has conducted an initial strategic review of the business during his first 100 days as Chief Executive Officer and provides the following key findings. Novacyt has already begun implementing several of the findings from this initial review and intends to expand further on the strategy at the time of its 2021 full year results."

After all that time it's going to be some set of slides ;-)

Lets hope we have lots of positives after seeing it

I would expect £6.9m manufacturing costs along with the £28.9m write down on inventory in relation to anticipated DHSC demand to be included in the response on top of the outstanding invoices.

posting at the same time genemeanie. last line wasn't related to what you posted.

I do agree with what you say but we have been asking this question for over a year now!