RE: Incoming bid.......29 Mar 2022 20:34
" so you are clearly posting false information when you claim they're not selling anything.
hedgehog - you quoted me but didn't seem to read it..if you now read the bit you quoted
""they need to start selling something anywhere. unfortunately this is something they have never been able to do in substantial amounts."
regardless of any sales they made they still made a loss - which you seem happy to exclude in your copy n pastes -
"Moreover, no money has to be repaid as the legal advice is very clear, so another false statement."
as twatcher said this was presumably the same legal team that did not realise the gov contact had expired 2 months previously?
until the dispute has been cleared you cannot possibly say they do not owe the gov the pre production payment - it is as i said hanging over them like the sword of damocles .
personally i think they will have to pay some if not all of it. remember the pre production payment was very specific on what it could be used for. since odx did not actually produce anything i am not sure what odx think they will be able to claim for? the machinery was loaned and commissioned by toshiba (?).
my suspicion is that odx hired a lot of staff in anticipation of phase 2 - looking at the huge staff at alva for seemingly very little production or sales. they clearly wanted to be ready so that they would not fall foul of the timing aspect of the contract when orders were actually made. however they were not covered for this by the pre production payment- that was on them. they may feel let down by the gov and that the spirit of the law means they should be compensated etc certainly not made to pay back the money. however colin signed a seemingly pretty disastrous contract with his crayons and clearly did not understand it properly
ODX looks to me like a quite cracking growth company, growing like gangbusters, and at a dirt cheap price.
I hope you are right for anyone still holding shares. however both my brain and gut are saying no. I would be happy to be wrong. the fact that recent communications are talking about abandoning CD4 and downsizing that does not scream cracking growth to me
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