Member Info for CaptainSwag

"If people keep telling you to vote NO 10 times a day then I start to ask why ? Have they git another agenda ?"

from what i have seen the people advising to vote no seems to have a genuine belief that it will either give the bod a bloody nose or shake them up to get their act together or both. I don't see anything underhand. it is an effort to do and people need to see they are not alone and there is a co-ordinated plan of action. it needs a push in order to have any chance of working
they have already forced the bod's hand and got an investor meeting - so that is some good. gives you an opportunity to ask your questions

i probably like many others assumed the bod were doing their best the whole of 2021. it looks more and more like they weren't. if so it will not change unless they become more accountable to share holders.

i suspect you are voting yes because you think your money will be safer that way. and you may be right. others just disagree and think that any dilution will just make it harder and harder for the SP raise enough to get money back.

"The problem with voting No is essentially that would be the end of the company, or .0.01p. Shareholders are damned if we do, damned if we dont."

i tend to agree. i can see why both sides of the argument but i am not sure either way will work out long term. voting no may make it quicker and vote yes could be a death by a thousand cuts,
i suppose it comes down to whether you want to continue to trust the board or give them a bloody nose

trader - good post
"This particular one was fact! In fact I would go further and state it wasn't even a rumour but a "leaked fact"
.....THIS

they released the RNS on 19/1/22 announcing jag. tbh they were so stupid to mention cash and no need to raise at that point. they dug a hole for themselves with that. why ? FFS.
we know within 48 hrs of this RNS they were seeking a placing. they went looking for it. incredible
i am sorry but this just shows odx incompetence 100% and their ability to proof read their communications by someone who understands the market. did they really think they could hide it for a couple of weeks whilst it was processed and then come out with it and everything will be hunky dory??

my suspicion is that the sale of alva has been on the cards since nov 25th. they talked of down sizing and jag has said that the sale was the first stage of the implementation. i suspect wheels have been put in motion for a lot longer than we think. as it takes time to organise this kind of sale

my suspicion is that knowing Alva's sale was going to go ahead shortly they felt time was running out for an opportunity of raising cash. they are quickly running out of jam tomorrow promises. the SP was always going to tank on the news of alva sale and make it harder to raise meaningful amounts. Anyone thinking the non covid portfolio is worth anything in their hands is deluding themselves.

they are out of covid business. no IP and paying for manufacture will leave them very little. they clearly do not have any sales nous and so are unable to generate the kind of business to make it worthwhile. they will probably try to see out the dam contract and that will be that. we don't know when that contract expires but i suspect it coincides with the agreement for tests to be produced for them by the new crowd at alva

don't be under any illusion - the placing has been done to cover their salaries for the next year or so. talk of "growth opportunities" is another white lie - £400k to broaden portfolio? as much as they are paying to complete the process.

at this stage i can't see odx as any kind of investment. they could not make money out of covid tests in a pandemic. what chance of food intolerance in USA with this sales team? the big contracts with china did not happen..wonder why? does not take a genius to work out that was never going to work.

it is going to be interesting to see the bod next step. the meeting is stage 1. i am expecting tweets about finncrap research note this week and some pumping.
as others have said you need to vote no now if you want it to have an effect. they have been cute with their dates and it may be too late to vote if you wait until after the meeting.

they will say that they need to raise cash or risk the business. in reality through their incompetence it is probably true. they are running on fumes - and if gov succeed in getting the pre production payment then there are big problems.

marik - i was one of the unhappy investors. I have lost £10,000s in the stock.probably more than most on here i believed the company (or should really say colin) were incompetent but gave them the benefit of the doubt in terms of honesty. my bad. no one made me invest ..my responsibility my lesson learnt.

I still thought with approval that they could potentially turn something around. the straw that broke the camel's back for me was not the placing but the sale of alva - as that signalled that they were not even having a go at selling covid tests in eu - where i still believe there could be some market. in fact they were no longer disguising their incompetence and no ability to sell. at that point the company has no future in my view. they will not be able to monetise the remaining portfolio - regardless of what finncap write - remember they are paid by odx and are arranging the placing / open offer

i understood what ODX were up to with the placing. they had to come clean after the scoop on 28th jan as they got caught with their pants down. so they confirmed the fact that they were in discussions.
they were still in the middle of trying to sell a placing and had in my opinion rather foolishly stated in an RNS earlier that week that they did not need to raise. so they had to a) try and save face and b) try to play a bit hard to get to get the best deal they could on the placing. but for anyone used to the markets there was no doubt that the placing would take place.
you don't sound out for a placing unless you need it.

when reading RNS you have to look as much for what the company is not saying as what they do say.

i can understand that some did not want to believe a placing was coming - even believe the contradictory nature of the RNS. however it does not change the english language.

my two cents for what it is worth

trade - i suppose they could have contacts at Nova and heard that gov dispute is close to being resolved. I doubt this
takeover - bio don't have enough cash so i doubt this

force a deal / merger - they have form on this. aggressively buying 20% then a deal is thrashed out a few weeks later.
i suspect they have something in mind and NCYT trading at a small bit over cash in bank is ideal for a bit of muscle flexing.

i think we will see them steadily buy until 20%+
how the SP will react will be interesting because the more they buy the more speculative herd will arrive and push SP up

NCYT - may have no idea what they are up to or already may know what they want. Either way i am not surprised they are making any statement. i think they will wait to see bios cards

The FACT that odx were in discussions for a placing were confirmed by the company themselves on 31st jan.

you persisted in telling everyone that the placing was just a rumour and would not happen - right up to 10/2/21. even though some of us were telling you it was most definitely on. i can understand why you were trying to deny as you were pumping whilst selling up at the top end to give yourself a free ride.

no problem with that. it is your karma .
but lets not try and destroy the english language as well...lol

if it is confirmed it ain't no rumour

jeez marik - you still going on ? ??
look you got it wrong...just admit it or else you were trying to deceive?
scoop 28th jan.. confirmed 31st jan...thats it...was not a rumour that they were seeking a placing. it was a FACT

RNS 31/1/22
"Omega (AIM: ODX), the specialist medical diagnostics company focused on industry-leading Global Health (CD4 and COVID-19) and Health and Nutrition products, notes the recent online speculation and confirms that it is in discussions with certain investors and shareholders regarding a potential equity fundraising."

so no doubt they were seeking a placing at that time

" No. This here is the RNS that confirms that it was a rumour. The date and time stamp on it is: Fri, 11th Feb 2022 07:01"

really? where in that rns does it confirm it is a rumour? looks pretty nailed on to me as far as ODX are concerned
LOL

you have already admitted that you sold as you were still pumping the share - and repeatedly telling people it was a rumour and that there was no placing coming because blah blah
why you have returned now and what your agenda is this time i have no idea or interest
anyway mate - good luck with your latest trading strategy - i hope no one gets caught out believing you like last time

"Rumour = a currently circulating story or report of uncertain or doubtful truth"

if you can read a dictionary why were you continually saying it was only a rumour when ODX had already confirmed they were in discussions on 31st jan ? the doubt or uncertainty of these discussions about a placing had well and truly been removed?

"Immediate = occurring or done at once; instant"

so why did you claim immediate meant medium to long term then?

it was funny as either you were clueless (whilst offering to explain the complicated stuff to us lesser mortals) or else you were being obtuse because you had an agenda. since we now know from your own admission that you had already sold whilst still pumping - my suspicion that is what the latter would seem to have been true.

your doubling down was very amusing .

"announces that it was notified by Biosynex SA ("Biosynex") on 18 February 2022 that, as at 14 February 2022, Biosynex's holding in the Company on a voting and capital basis is 4.04% (2,855,959 shares)."

they can only RNS after being informed. i suspect Bio informed them at the last possible moment to take advantage of any SP drops .if they had let them know sooner the sp would have reacted and they would have paid more

"Doesn't sound that funny when you place it context. "

i don't know your definition of rumour (confirmed fact in RNS) , immediate (medium to long term) were pretty damn funny at the time that you were repeating them non stop many times a day.

got nothing to do with market abuse and more ability to read a dictionary.

though to be fair you did offer many times to explain the complicated stuff to us simpletons

"Just a pity they did not release the RNS a bit earlier, might have caused more of a stir?"

lol exactly what you would not want if they want to buy more...cheaply

i did say the 3% was the opening salvo...
imho they are going to buying a lot more - 3% is no real use to them.
NCYT SP is extraordinary cheap for anyone wanting a piece of the action. they won't find it so easy to buy in future at such cheap prices.
i suspect over the weekend news will get out and might attract some carpetbaggers on monday

As they say - would not want to be out of this over the weekend!

Oh no..not marik and definitions again!!
Rumour
Confirm
Immediate

Hashtag LMFAO

if odx would want to challenge posters - they might have to explain

their pumping on twitter busy busy/ big things when clearly nothing was happening - other than directors selling their shares
telling us they were in talks and optimistic when it turned out contract had expired
telling us no need for a placing and within 2 days in discussions about it

I suspect they won't want to go there..somehow

"Most companies are actually run by their FD and we have a new one, and a successful one with a track record, now in place, Chris Lea."

he is no longer "new" and has hardly been a success with odx in the months he has been there. his history is taking companies private. well destroying the market cap and diluting shareholders is one way of giving the company away cheaply.

"The so called DHSC contract and subsequent failure was not the fault of ODX but rather our current corrupt government."

odx/colin signed a contract that had no minimum and a very short expiry date. they clearly did not understand the contract as had to be told it had expired 2 months previously. quite possibly they would not have been in a position to negotiate a better contract. however having signed it they were not forced to put all their eggs in one basket. they chose to do nothing for months - nobody knows how the pandemic will last. you make hay not sit on your harris fiddling whilst the SP burnt to the ground

truth of the matter is that they were unable to sell a test in a pandemic - says it all

they delayed approval applications which were quite clearly filled out poorly hence having to be returned. they had a crazy strategy of lft pro use application in usa? does not take a genius to work out that was a waste of time

my opinion is that this is just the beginning - they invested the cash they felt right at the time and it worked out as that percentage.
they are not trading. they have bought in for a reason - to catalyse a deal? merger ? i don't think a takeover as they would not see to have the funds.
As the price drops back to their previous buy in then there is more chance of further buying in my opinion.

if/when the next buyin occurs then it will be harder for the market to drop the SP again as their intention is further re-inforced

jeepers - would not surprise me.

well the only good thing would be that he will no doubt ruin that business as well........................

"How many times has it been stated previously that x, y or z has been priced in, only to get a knock when we get an announcement? If there is negative testing news on Monday, then we’ll come under pressure, I can’t see how that can be argued against. "

unfortunately that is AIM - any link no matter how tenuous hits the share price. How much income is via PCR from NHS?

The sp has dropped a bit so anyone wanting a bigger share of NCYT has a good opportunity again...

"but this silly child led "OSAG" group will do more harm then good to shareholders by hounding the BOD on a hourly basis, sending silly messages on Linkedin, twitter and so on isn't going to help anyone will just push them further away and make the problem worse."

not sure how it can make things worse? and that is why the anger. massive dilution for £400k to broaden portfolio - oh and it will cost this same amount to undertake placing. giving away alva on receipt of CE mark. smells dirty as a sewer

As i said yesterday I do not think things will work out well either way. not with this bod and this management/sales team.
They clearly do not have any business acumen or care for shareholders. not a good mix

i did say i was curious what their next move would be - and this meeting is their way of pressurising a yes vote by saying they will no longer be a "going concern"..well let them admit it in direct contradiction of the previous RNS - they might just give themselves enough rope

they are clearly getting the mesage from shareholders via twitter/wally brook etc. I would not be surprised if they are reading on here. if they are one word - SCUM

"So NCYT are being valued at £140M ( cash value with DHSC money ) or £100M cash in hand and £40M for a business doing £55M a year"

NCYT is not a realistic comparison to ODX. they hit a perfect storm and their SP is on its knees at £2 and not a true reflection of their current or expected earnings. however they are very professional outfit and the directors have just announced an LTIP with a baseline of £3.54. To get full reward they have to take the sp to over £7. that is how you motivate management.

however there is no way that odx can be valued at multiples of the cash they would get from placing with their existing portfolio (minus covid tests) and track record of sales. it is clear they had an initial big order from china which dried up (one can easily guess why) - so now they are going for a mass conquest of usa???..ummmm good luck with that.

Apart from giving the directors a bloody nose i don't see how either alternative will work in the long run

oke - as you say it is scandalous that such a small percentage of the placing is actually being used for growth - remember them saying the only reason they may need to place in the future?
the actual placing is costing the same as they are prepared to spend on broadening the product range

if the placing gets rejected then so does the open offer.
i am going to watch with interest the directors next move - they must be aware of the plebs uprising. they clearly offered the open offer in the hope it would get the shareholders on board with accepting the placing. any extra cash got is a bonus for the biscuit tin.