Member Info for Atanasoff

I share the concern with the US market. My question related to HIPAA and regulatory compliance went unanswered. They don't have a great track record when it comes to digging into the detail so this is a big concern.

I am more optimistic about the Kenya testing than I was before so that £4 million would give them the investment they need to get moving. and keep the wolf from the door.

The £100m was changed to Mkt Cap and the answer was pragmatic - in summary not a chance for a good long while. Some holders are utter clowns.

A big buy has gone in today so we will see how things develop. I am not expecting a great deal until we get a trading update or RNS.

To be fair -

The presentation was much better than the last one. Bullish and the CFO is credible. Even Jag managed to put on a shirt and seemed more on top of the brief.

However, they have talked about the next big thing for as long as I can remember (2017?). What is better is they are better focused and realise they can't stretch themselves too thinly.

Have they got everything lined up to deliver? That seemed a bit wooly.

Proof will be in the pudding. I am more confident than I was but believe this is still very much a gamble. The half year accounts will be the litmus test.

Calamity Kate seems to be a bit of fraud based on what people are quoting. Zero credibility.

Her sidekick is caley2 is just a non entity that I am increasingly convinced is a bot. A very angry, very dumb bot I grant.

Those who shout and scream the loudest and seem to prefer a warped reality to fact are always the ones projecting the most.

Best thing I did on here was filter them. It is amusing seeing the green stripes appear.

Anyway - fun presentation at midday ! Wonder how many will join. I have a very boring document to do today so will have it on in the background.

Did one on the idiots actually post that?

Caley2, the inbred love child of calamity Kate, clearly has never been on a ODX call. Nor does it understand business fundamentals.

Why do you think the business is worth 11 million?

Intrigued.

(My current company has a better EBITDA - perhaps I should float?)

5p would need to be monumental. First - the company just isn't worth 11.9million by any sane calculation and has nothing innovative coming down the track and secondly too many are sat at 4p just itching to sell. It would be carnage.

Even now I think we are going to be at a point where willing buyers dry up. Only a certain number of fruit loops like calamity Kate and her sidekick Caley0 around (thankfully)

As I have only filtered the two idiots that is staggering. They must be angry about something. Perhaps they have seen todays trading?

# Trades 22
Vol. Sold 613,634
Sold Value £16,498.99
Vol. Bought 400,836
Bought Value £11,095.8

Selling continues. As it should. Less than £30K traded. Looking forward to the presentation although listening to dull Colin now seem the golden days. Tomorrow we will likely have Jag looking uncomfortable. Notice Simon can't even be bothered to be on the agenda. Will we get an appearance?

Exactly Captain

I saw that in the results and it is fantasy stuff. You can't blame someone for a loss due to contractual arrangements not working out how you wished if:

a) Limitation of liability clauses are within the contract and agreed on (I have never been party to a commercial contract that didn't contain these)
b) No definative deliverables are specified within the contract (which they weren't).

As you say the financials were written to fool idiots. They could say "We have instructed XYZ Law Firm to launch legal proceedings in the high court". But they didn't because:

a) They have no case
b) They have no money to fight such a case (assuming they don't have insurances which is unlikely)

The key here is how sloppy everything is. Take this comment:

"The group is now in a better position to quantify the additional costs suffered as a result of the DHSC’s actions"

So well over a year since the contract expired they are JUST getting to grips with the figures. I have written here in the past about cost controls and the importance of cost centres in a business like this. It is staggering that they are only working out the loss now.

Its because they don't want many to attend. They don't want to be held accountable.

My question - Can you confirm you have had no contact with the government over the pre production payment since Feb. I think they are in breach of rules and have had contact.

Further - they are selling magic beans. Kenya study AND zero pay.back for gov are need to stay afloat. Even if both come off the sales projections are very weak for the next 3 years.

Unless you are one of the two crazies on here (I see a sea of green today so they must be panicking) this stock is a pure gamble play and is currently on life support.

Dsaf

Please tell me the clown didn’t actually post about increased revenue.

I assume using a calculator is beyond her wit. It’s business 101. If you spend more than you earn it doesn’t matter a jot what your revenue uplift is. Why is this basic fact hard to grasp?

What do they think EBITDA is and using that as a baseline to measure company performance do they think that these results are “good news”?

I gave up when I would post facts and get ignored. They are clueless. Take this thread - has anyone got any rational argument that 12p is a realistic target?

They are either trolling or are unbelievable clueless.

Oh a green stripe has responded. I wonder who it was? My guess calamity Kate. She must be so frustrated that everything I said would be in the end of year finances is there. If anything, it is worse.

My bet is that calamity hasn't done any due dil on the company in Kenya.

In the sea of green stripes from the two idiots being filtered I am seeing some refer to a mythical 12p share price. I am assuming this is the horse botherer average.

Anyhoo - whatever the case this is just to remind you all it is nonsense. If the share price was £0.12 the market cap would be £28,560,000.

Now I know not many holders of ODX have much of a grasp of reality but this is beyond stupidity. Even with the most optimistic EBITDA it just isn't based on anything realistic. Prove me wrong.

If we ignore the full horror of the accounts and the "maybe we will be able to get another £8m in sales in 3-5 years" nonsense this stock isn't going to 12p anytime soon. When you take into consideration the bank didn't reduce the overdraft facility, they just killed it, and the number of uncertainties - especially around the partner in Kenya then this isn't going to be 12p. It will lucky to be 1.2p.

The more I study the accounts the more this seems a prime "greater fool" stock. Even at this price.

As I wrote this morning the financial results make this a pure gamble play. The lack of share price movement today shows that holders are too underwater to sell but the company has little internet in it apart from people that want to place a small punt on it.

My guess - with no overdraft the CFO is now talking to private equity companies. They don't have much choice unless the two gambles pay off and then it is only a matter of time until the money is spent again.

Even then you have to trust the board to get growth running and margins protected in new markets. In other words - they must have everything go right to survive as is. Like me entering a F1 race with a Vauxhall Zafira.

If the go down the PE route then a share consolidation and massive dilution with it would be the only game.

Far too much is hanging on the Kenya stuff - my guess is that virtually none of you have looked into the partner. If you had…..

But then blind optimism seems to be the PIs de jour.

If my calls are right in cost of the failed raise they paid Colin a years salary as a goodbye.

Not bad for him…

This is a pure gamble.

The overdraft has been withdrawn. Good detective sales are down so they are betting the house on 2 things they have no control over.

To quote:

“If both outstanding matters went against the Group to the maximum extent of £6.5 million, this may exhaust the available liquidity of the Company and Group and represents a material uncertainty which may cast significant doubt on the Company and Group's ability to continue as a going concern.“”

The food stuff does look good but even then they have not established themselves in the ISA STILL despite talking about this in 2019. That means China is the biggest market.

Some good growth and margins maintained but that may not be enough as the rest of the now dead company has dragged it back. They even had to write down some money from the disposal of the German division !! That was 2018!

If you think the Kenya study will come good and see mogg won’t ask for our money back then all the best but based on track records I wouldn’t be confident.

May be worth a small punt to forget about if it drops to 1.8p

Not a chance imo.

You have to ask if they are worth £6m. I don’t think they are currently.

# Trades 7
Vol. Sold 64,635
Sold Value £1,757.13
Vol. Bought 0
Bought Value £0.00

Lowest volume of the week. No interest.

Be interesting next week.

If a single share buy is a sign of incoming news what is the sale of one share?

09:36:46 2.718 1 Sell* 2.70 2.80 0.03

14 trading days left.....

Based on ODX history they will likely be posted either on a Thursday or Friday. It helps mitigate bad news due to the lowered trading times. That is what Wallbrook seem to advise clients.

Will it be tomorrow? No idea. They have spent another week to try and convince the auditors they can continue. I also don't think, even by ODX standards they wouldn't have been cap in hand over the overdraft. This shouldn't go down to the wire so I would be surprised if it was delayed after the 16th and not amazed if we didn't get something in the morning.

The volumes are incredibly low so when the rush for the door starts (assuming shares aren't suspended first) it could be carnage. Many seem to have written off the losses so it will be interesting to see.