Member Info for Brentw1

WBAFC, if you are a doctor, I don’t believe for one minute that you would have posted specific medical advice on an open forum to a poster who you had not met (earlier advice to Airlineboy).

So I conclude that you have an agenda or (and more likely in my opinion) that you are a deluded fantasist.

We are well ahead of the Bourse in terms of volume this morning and a lot of big buys have gone through LSE at what I consider to be bargain basement prices this morning. Something is afoot as buys are also way ahead of sells. Make of it what you will. GLA

They really haven’t thought through the implications of bringing the current Board down.
The sentiment against GM is understandable (if misjudged in my opinion) but why take it out on the new guy?

I didn’t want to say this but it’s turkeys voting for Christmas and Thanksgiving IMO

Sadly MrBig, people are voting with their hearts and not their heads and doing some, as you have pointed out, dumb things IMO.

But there you go.

Bluelight, I wish you well and we will have to agree to disagree.

Your post implied that you had voted no to everything?

Bluelight. It's not about the past, it's about the future.

So enlighten me, how does your no vote help your personal investment?

Just felt it needed saying Easy12. Far too many posts on here about the chance to vote down the board to make some stupid point. Also an incredible amount of inertia it would seem. I've done my bit and it only takes minutes.

This is just my take on why I have given the board my proxy vote and therefore effectively said yes to all resolutions.

My first consideration was what am I voting on? My vote is for the resolutions in the agenda and NOT a protest vote against what has or has not happened in the past.

We have a new CEO coming in whom I suspect has had input into the resolutions and needs share-holder support to take the company forward. I actually think that the current BOD and Management have an impressive array of credentials and expertise.

Do I actually blame GM for the DHSC dispute? No. I imagine the SP would be fantastic if it had not happened and if phase 2 had gone ahead............but sooner or later, the dependence on one main customer would have come home to roost. This dispute may be a blessing in disguise frankly and may well (IMO) be looked back at as a turning point. And anyway, this is not a protest vote situation for me as I have already said.

What would be the outcome if the BOD fail to get a quorum? I don't know frankly but I suspect it will not be good, may well seriously damage the SP and probably delay any form of recovery. So why would I want to be a party to that unless I am short.

So, all I am saying is think carefully before voting no based on the past as that is petty and pointless in my view. Think instead about how best to protect your investment. Think about how to support the Novacyt BOD and Management to allow them to take us forward. Vote one way or the other for the right reasons and not just to make a petulant point. All just in my opinion of course. GLA

Well Age9, that's re-assuring.

Investment advice from some bloke who turned up a while back, who couldn't get his head through the door (as I seem to remember) and talked some of the biggest tosh I have heard for a while.

GLA

Trepid, it would appear that you have no knowledge or experience when it comes to how competitive tenders work. Everything is weighted and scored so a 'price hike' as you describe it would in all probability ensure that you lost the tender.

Let's just agree to disagree then. The only winners if this goes to court would be the legal profession as it would be dragged out for years with mounting costs for both Nova share-holders and the tax-payer. In other words, we would all get screwed twice!

I understand how you feel Bluelight but personally I would like to continue to do business with them (which would not happen with the T & C's you suggest).

The fact remains that everything ever posted on this board about the dispute is an assumption as both parties are subject to a NDA. We continue to need to be patient, knowing that the proper accounting provisions have been made for the worst case scenario.

The fact that we are still supplying and doing business with them is positive and shows that the relationship has not broken down irretrievably. I don't think for one minute that we would have won that recent supply contract if it had as the powers that be would have found a way to exclude us (it happens in the murky world of tenders!).

Anyway, GLA

To be fair Testing, there wasn't really a good reason why it dropped so much over the past few days lol

Shelldonald, I think I'll just stick with the bit in your post that says 'I'm no accountant'.

There has been some absolute rubbish posted on the board over the past few weeks about the cash at the bank figure. Much has been made about the fact that it has reduced with some obviously financially illiterate people talking about 'cash burn', write-downs affecting cash etc.

The cash at the bank figure is obviously affected by cashflow therefore making assumptions about the underlying performance of the business useless without up-to-date information about tax liabilities, trade debtors/creditors etc.

From the last annual accounts, trade and tax liabilities were as follows;

Trade and other liabilities 36,784,000
Tax liabilities 15,116,000

Just paying the tax bill would account for the drop in cash at the bank and presumably we pay our suppliers even if the DHSC don't.

I would therefore suggest that many of the statements on here about the financial position of the company are pretty naïve and show just how poor the accounting and financial knowledge is amongst a few of the more vocal people on this board at the moment. I don't know about a pinch of salt, maybe a bucket-load is more appropriate with some of the more idiotic ramblings! The cash at the bank figure is meaningless without the full picture.

I remain confident that the company is in a strong position, particularly compared to others in this sector who have little or no sales. GLA.

Quite Bluelight.

Most of the last couple of dozen posts are pathetic frankly. We are actually doing pretty well compared to the rest of the sector today. Lol

Good morning all.

I've no0t posted much over the past week or so as there did not seem to be any point.

The board has been full of keyboard warriors all trying to make some sort of childish point whilst any sensible analysis and research has been drowned out in the exchanges. So it is refreshing to see some of the sensible LTH's re-emerging this morning.

This is how I see it.

1. The DHSC news was a shame but the cost to Nova appears to have been identified on a prudent basis and I hope personally that the worst outcome is now clear. The cash at the bank at £77m seems to be about right in view of the circumstances.
2. The de-ramping/ramping and mud-slinging makes little difference to my view that my money is safe. Some of the posts have been funny however as people forget their previous fantasies and the stories change all the time (lol). The fact is that this is a substantial and profitable business with money in the bank that has had a set-back.
3. The positive for me in the DHSC saga is that we are no longer dependent on one customer for the majority of our sales.
4. Considerable investment in products and services continues to be made, recruitment continues to be exciting in terms of the positions being filled and the non-covid revenue is potentially huge and sustainable.
5. However, Covid has not gone away and is not going to go away. Testing will continue to be required and the world-wide market remains huge.
6. I feel sorry for a number of large loss holders as at todays sp. I am also sitting on a loss but it is a paper one and I am in this for the long haul. I genuinely believe thus will come round over the next couple of years.

Anyway, good luck all and lets try to keep the board based on good informative posts that are helpful to new as well as old visitors.

Simmer down to a panic folks. This was all priced in, totally expected IMO and very prudent and required accounting.

It gets worse Valju.......................just discovered its electric :-)