Member Info for B2HS2L

HarChris - I have no basis for this, but I think the BoD has an expectation that successfully refuting the DHSC claim, (and resultant payment of funds claimed by Novacyt), will produce Cash at Bank of considerably more than the present £87mil.
I think they will be willing to spend big at that point in time.
I expect that the M&A delay is because if they 'fritter funds away' then they will not be in such a good position to spend big after winning the dispute.
Spending big may be a succession of purchases or one or two bid purchases, we can't know what they intend here.

Kaeren - an M&A purchase now, may not be as much value for money as an M&A purchase of similar / the same prospects in the future. HarChris stated "worsening economic conditions that leave any low cash debt ridden companies extremely vulnerable." I agree with him for now, but future situations may well make M&A more attractive, as those prospects might be more likely to make immediately accretive profit contributions to the Novacyt group. (of one).
Hearing Mandy say there is no present M&A embargo, and we are willing to spend cash on M&A doesn't feel right to me, because they haven't done in the past what they said they were willing to do in the past.

But these are two hypothetical points of view, as nobody knows anything about Novacyt's circumstances, as they play their cards so close to their chest.

"is there a functioning management team here at Novacyt to start acquiring those troubled businesses"

1 James McCarthy is acting CEO and FCO and as such will have all he needs to keep a tight reign on spending while sales are not good.
IMO JM's acting CEO status accords with JW being able to find a suitable CEO when he feels the time is right, providing JW with maximum flexibilty.

2 We await a replacement for Ed Snape, who retired at the end of last year.
RNS 07.12.2022 "Ed's retirement from the Board will take effect from 31 December 2022"
For info - RNS 15.07.2022 - Dr. Snape's beneficial shareholding is unchanged at 17,919 ordinary shares representing 0.03% of the Company's issued share capital.
Perhaps someone to Ed Snapes and JW's liking will be the replacement.

3 The Novacyt website has a 'board & management' page, https://novacyt.com/about/#board.
The board is displayed, but the management page has been missing since mid February.
22.02.23 - In response to my enquiry, Mandy stated "There is no regulatory requirement to show senior management on the website and the site is in full working order, however we are currently making various changes to it"

4 I think it might be too soon to pick up troubled businesses, and JM / JW will want to assure any M&A prospect will not be a drag on Novacyt finances even short term.

This is all about keeping as much in the bank as possible, now the prior LTIP scheme payments to GM & AD are complete, whilst awaiting business conditions to improve.

So until business conditions improve, and/or the DHSC dispute is not ended, I would assume that a list of possible M&A targets is regularly being compiled and updated, in line with JM / JW's strategy.
In JW's case I would think might regularly update a short list of preferred suitable CEO's on the back burner.
Whether company strategy is still in line with DA's attempts remains to be seen, - one more reason for an R&D update soon.

neilrich -
ex-NCYT Tom Major implies he is shooting a Novacyt video.

"Great shoot today. Filming UK diagnostic testing in Soho Square, London.
Day 1 of 3 for this project.
Next stop.. Southampton"

Photographed inside a Versalab trailer.

So what is the nature of the video:
1 To try to breath new life into a present product
2 To announce a modified present product
3 To introduce a new product
4 To present a Merger or Acquisition
5 To introduce a new CEO

Obviously guessing, and it could be any of the above, (we surely need 4 or 5, maybe 4 and 5!)
However, my money is on 3, as we are overdue some new products.

"I may have messed up here but I’m not a total idiot."

You spend your waking life trying to deter present and future investors.
You don't post on any other share.
You provide no research, - not even looking for any.
So yes, you have messed up here .
But a total idiot would be well under water, AND spend all day trolling one company, AND be missing the
employment opportunity to flip burgers all day.

Have you considered flipping burgers and spending break times trolling NCYT? - No.
QED.

A better article on the CHAPTER 11 bankruptcy found here:
https://www.thenationalnews.com/business/2023/02/23/covid-test-kit-maker-lucira-files-for-bankruptcy-as-demand-declines/

Possible M&A for access to USA market?
This article doesn't provide enough info, but Graham Mullis may have had an interest.

Exmex - Apparently Lucira has assets of $146 million and debts of $85 million,
according to a 22.02.23 Bloomburg article.
Unless they were burning cash fast, there might have been time for this new product to find traction in the market.

RNS 10.11.2022:
"James McCarthy, currently the Company's Chief Financial Officer (CFO), will assume the role of Acting CEO until a successor is appointed. Steve Gibson, Group Finance Director, will take on a substantial part of the CFO responsibilities to assist James in this period."

Steve Gibson is not performing all CFO responsibilities, so not available to advise projected earnings.

So JM responsible for both roles for now, and thus a projected earnings statement is in order.

I'll bet he's not getting both salaries.

FWIW I believe Myles Mcnulty was close, when he talked about the amount of information to be made available on science day in his recent investment notes:

https://aimchaos.com/category/investment-notes/ - Page 10 - 03/02/2023

"Firstly, as P1a is an ongoing trial and there are a number of very sick patients
shortly to be dosed (at even higher concentration levels) with AVA6000, it may be that Avacta wishes to limit
detailed commentary on side effects (or lack thereof).
Furthermore, we believe that the Company may wish to make a big splash at one of the
key global oncology conferences, such as AACR ( in April) or ASCO (in June).
Companies presenting at these conferences are usually required to present fresh, unseen data.
If this is indeed the case, then up until those conferences,
Avacta will have to limit the data from the P1a trial that it shares with the investment community."

Reproduced here for those who didn't make it to page 10, let alone page 37!

Saving the full data set for AACR / ASCO? - We'll see.

hahahehehoho -
"Even avct has doubled since I last saw it and that's basically another dddd. Lol"

See the last Avacta RNS, and view the phase 1a data available on 23.02.2023.
You'll be laughing on the other side of your face.

It was half it's present sp in April last year, - enough said.

Seriously, if this poster posts more rubbish concerning NCYT, suggest green binning.

Wilson, - You were spot on with the bioinformatics team reference, - From Larry's IFU:
"Specificity
The Primerdesign genesig Kit for Marburgvirus (MBGV) genomes is designed for the in vitro
quantification of MBGV genomes. The kit is designed to have a broad detection profile.
Specifically, the primers represent 100% ****logy with over 95% of the NCBI database
reference sequences available at the time of design.
The dynamics of genetic variation means that new sequence information may become
available after the initial design. Primerdesign periodically reviews the detection profiles of our
kits and when required releases new versions."

At a nod from the bioinfo team we could have this assay manufactured soonest.

Don't you just LOVE that typo ROFL..

"Never said it was imminent, just being dealt with. Cleverly though".
Some might be more inclined to replace cleverly with deviously, -
it was a strait question not blessed with a strait answer.

The point is that neither the new or old LFT reader is yet available from the Primerdesign or Microgen websites, and the question was 'is that functionality likely to be available soon'?

The response was 'stay tuned' for news of an e-commerce platform, no news of when.
WTF do they think everyone is doing.

The old LFT reader was annonced - via twitter - at the end of July last year.

If you place yourself in the shoes of ALL TEST, the manufacturers, -
would you be impressed with Nobacyt's attempts to market the product?

What the company does say is that it is looking for M&A opportunities.
As nothing has happened over a very long length of time now, - with a large amount of cash, I'm unconvinced.

larry - Hold the next AGM in person on Jersey, where everyone has to travel, but at least we will see them in person.

Toby Hampshire was listed by the exhibition hosts as an attendee, - unsure if he attended.

Hi neilRich -

There are two slightly different versions of the MyGo Pro instrument.

These links give access to the tech specs for back to back comparison:

https://sciquip.co.uk/mygo-pro-qpcr-instrument-1.html

https://sciquip.co.uk/mygo-pro-esr-qpcr-instrument-3.html

FWIW Antonio Argenio - General Manager International markets -
provides the best overview we are going to get concerning Novacyt's current sales force activities from his Linkedin experience:

https://www.linkedin.com/in/antonio-argenio-1aab7b22/

Responsible for commerical management of Asia Pacific, Latin America, North America, Sub-Saharan Africa, managing a team of Business Development Managers based in UK and in Region. Designing and implimenting the overall strategies for international sales either through direct to customer relationships or via Global and local distribution networks, including Fisher Scientific and Avantor VWR. In addition to the regional responsibility I have have responsibility for our RUO portfolio development and strategically manage our NGO customers, this includes WHO/PAHO, and UN agenies.

The Avantor VWR website has Primerdesign prices in sterling.

Said Scarlet Pimpernel closed two companies after his 100 day walk about.
JW gave his agreement on day 1.

Shareholders have gone way past the point where an RNS was necessary on this subject.
Money has changed hands to purchase rights for goodness sake.
I wrote to SP Angel, - the NOMAD, - to complain about the above situation on two occasions,
urging them to investigate and advise.
I haven't heard a word, they're probably still laughing.

21ATS. - You possibly weren't around when Novacyt and AVACTA posters were pointlessly baiting each other here in 2020/1.

Then you would have a much better understanding of tribal rivalry.