Member Info for BIGBangs

Wording from the RNS
‘The Company has made good progress towards establishing a lateral flow production capacity of approximately two million tests per week from its Alva facility in Scotland. The completion of that capacity target, and more importantly full utilisation of this capacity, is dependent on the confirmation above from the UK Government. In the meantime, Omega is currently using its own capacity to produce its own tests and following today’s launch, the Company expects, together with the test to be licensed from the UK Government as above, to rapidly move towards full utilisation of its capacity of 2 million test per week.’

I missed it but have been assured that yesterday’s presentation confirmed 100m capacity.

I have just re read the RNS you mention - a reminder of happier times. Since then HMG changed the rules and did not give ODX the select a test that they wanted to authorise ODX to produce. Can’t really blame ODX for that.

Regulator, I agree although we have yet to achieve the necessary approvals to produce tests from anywhere in the world - I believe we will get them and am even prepared to consider the possibility that one day I will actually be happy that we do not have the burden of the government contact holding us back.

ODX believed that HMG would not have made the £17m investment and £2.5m advance payment if they did not believe that orders would be forthcoming. The contract may have been one sided to a degree but ODX would not have had the opportunity to alter much, indeed they would have been foolish not to sign it, we have ended up with the cash and the machines on site and ready to go. We are ready with a 100 million production capacity all we need now are approvals and the commercial market will take care of the rest.

Okehurst, whilst I am currently far from happy with ODX BoD, let’s not forget that the villains here are those within HMG who have continually ordered Chinese tests instead of using the UK suppliers that they had put on notice. Disgraceful.

Thanks TWatcher, I must have missed that - now I am disappointed in myself as well. I am not too surprised by the split between machines you have shown me - until we finally get approvals and orders no point in running two machines. What is your view on things now, sorry if you have given it earlier today, I am late joining the board today and have not read back. To be clear, I’m holding as surely things can only improve from here but very unusually for me I think CK should go, he is just not up to the job and virtually admitted as much. Want to bet he has never bought any shares (for any company) in the market himself?

Calderkate, there is a big difference between being over optimistic on Twitter and making official RNS statements - it was all there to play for, may still land but needs to be driven.

Well that’s interesting Computer, you have just made me realise the ODX failed to even confirm that their capacity was now 2million per week - that was because they run out of time talking about the non Covid part of the business.

I don’t like the way my post are going, I am pretty annoyed and disappointed with the performance yesterday, probably more so than the content. Strangely although the drop came about because we decided to make an announcement about the expiry of a government contract (non producing) on the same day as results which were incidentally made to look worse by making a decision to get £2m plus received from HMG in the balance sheet rather than offsetting costs shown in the P/L account it was my fear and realisation that the CEO is not up to the job. Approvals and orders may be due and ODX have formed relationships with Landsdown and Dam, things will get better but the road just got harder.

There will be no investigation, they are not corrupt just rubbish.

After yesterday’s presentation I see a takeover as much more likely. Personally I can see NCYT as a potential suitor although it could be someone more left field. ODX could be bought for a steal now and the BoD have no defence and would probably be happy to walk away. I had previously dismissed this as I believed we were on the cusp of approvals and orders, I still do but I am no longer convinced CK and his team have the ability to see this through.

Not a dead duck FinCap report that non covid products justify market cap. Been torpedoed today but above the waterline so whilst I am very far from happy I have not lost faith that with the right approvals we can do well. The journey may be harder now but a good RNS will totally change the sentiment, let’s face it, sentiment could not get much worse.

Well he could but the exclusivity contract only cover the professional use for travel - I think, it is the home use approval that is the key although I we will need retailers and Dam could well step up.

Reads to me that you are suggesting that ditching the government contract is an entirely good thing. Hope so could just be right as long as we get the approvals and can move forward. We can but when?

Probably because you need to hold or represent something like 10% of shares to call a EGM. You organise it and I will vote.

Well thanks for that Harvey really appreciated. Taking into account the money received from HMG held in the balance sheet we are not actually making a very large loss. I think I may well be a twit but I don’t really need to hear it from you today.

The market may well react to a poorly framed presentation but the CD4 etc evidently still close to CK’s heart does actually more than cover the current SP. Having held throughout I will be holding and believe that at some point approvals will come.

Overrun because you spent so much time talking about CD4 and avoiding getting on with facing the antigen situation.

The most damaging comment for me is that we are basically a food intolerance business working with poorer countries - out of their depth here.

Not put the £2.5 mi into P/l but all costs are accounted for - don’t fully understand why they have done it that way but we are better off that the accounts would suggest.

Got the legal advice yesterday which may let them off the look a little.

I can accept that they do not know a timeframe but they could surely confirm that all questions have now been answered and confirm that they are pushing every day for the approval and putting DHSC under pressure for a timeline.