Member Info for CaptainSwag

lets face it even reggie cant put a positive - as expected / happy with my long term investment - slant on this xxxx show today. maybe a modicum of guilt for misleading some on here with his eloquence

hashtag gold command calls / hush hush top secret mass walkouts over CDTA / dunning kruger

"So would discount to current share price mean discount to 10p or discount to the share price at"

the discount would be on the SP at the time the placing was agreed. last week sp at 10p and placing sought at 5p according to TW..and he was right about placing so i think we can accept that figure . 50% discount

SP now 8p..so same discount brings placing at 4p. the bucket shops buying will want to make sure they can recoup cash. they are not looking to invest in the company

marik - you just need to read the RNS

marik

rns on 25/11/21 - cash is £4.7m
rns on 19/1/21 - cash in excess of £2.5m. this means between 2.5 and 3 but I would suggest a lot nearer to 2.5. probably under £2.6m

so in less than 2 months they burnt £2m
They are prob still paying colin something and jag will have negotiated a higher salary.

they just jetted off to the middle east - poor spot and probably a waste of time.

they can keep lights on for a couple of months. however board will want to make sure their salaries are paid. this will have to place sooner or later. the more desperate they get the worse the terms.
i had hoped approvals would drop very soon and maybe they could sell something....

after this rns - i am just lost for words. they blatantly lied on an RNS.

"Where are all the Fu**ing rampers for the past 2 yrs hiding, crooks idiots and you are even worse than the Clown.

tbh i don't blame rampers for ramping . some thought it would come good..some were trying to protect their investment..some prob trading etc.
it is why it is important to have all sides on this BB,

this doesn't excuse the threats. abuse or pestering that has gone on this board though

i suspect that rns this morning has blown their chance of getting 5p. ..
they were offering a 50% discount last week.

So probably looking at 4p now . they are only going to sell it to bucket shop flippers. they need a huge discount to ensure they can sell everything above placing price

what serious II would really buy shares in a company not only incompetent but clearly deceitful as h*ll.

What a silly RNS, can only be done by an inexperienced CEO….what’s he thinking?

i suspect they do not really care. just trying to cover their arris in terms of market abuse

however they need to realise that they are going to need the cash cow PI sooner than later. they also look like clowns in the market. all of which will make it harder to raise.

jeez...and still no statement from the viper that is jag

i always had ODX down as hugely incompetent ....willing to give the benefit on honesty but now they confirmed beyond any doubt they are a very deceitful company.

maybe colin did know about the placing and walked. he did strike me as decent if a complete train wreck in terms of competence. he is still to blame for the destruction of odx. the vipers left are only interested in their own pocket. no doubt the raise is to ensure they get paid for more than the next 6 months

the thing is they could not even handle a placing in a competent way and i suspect they may have well been turned down in their attempts.
if they were immediately going to go back on their word they could have handled it a lot better. pumped the SP up for a couple of weeks and then try. add some sort of sweetner that the raise for something that would be accretive

they should have known that trying to raise would be leaked..All they have done is further lower the SP making a placing even more painful. they have also lost any PI trust so only a mug would enter open offer

you either laugh or cry

marik - i suspect a considerable portion is wages. they have a lot of staff who really don't produce much sales . not too mention directors considerable wages . then you have overheads.
i suspect a lot of money is just frittered away

"One of the worst run Companies I have ever seen... Disgusting way to treat Investors."

amen to that.
disgraceful deceit - to rns saying not needed and then a week later be looking to do it.
says all you need to know about the company - new ceo and board.

"Everything was lined up for ODX. I blame the fat controller for not making full use of the opportunity. It was too big for him to deal with. How can someone allow such an opportunity to slip? He should have been meeting with them on daily basis and made it happen. Not just sit on your ars* and wait for it to miraculously happen by itself!"

Sally - i think i am a little in love! summed up beautifully!

just thinking - would a placing of £5m to buy the equipment make a difference?

oke

I found the following:

"Companies which are not subject to external audit must still assess going concern and must still disclose any material uncertainties of which the directors are aware in making their assessment (FRSSE (effective April 2008) paragraph 2.12)."

DR - where in the UK are you based?
in London still plenty of masks everywhere. i have not seen any significant difference yet.

i do not see LFT as a pro test being any kind of earner. the format strength is really in self test and the profit in being able to churn them out with minimal labour needed .
NCYT really need to get some self test approvals and cash in on that market whilst they still can

Are the management not supposed to be updating in light of the SP drop??? Is there a time line on a response regarding the government request for refunding the grant / or a litigation process???

they didnt update on any of the drops from £1 - so I would not hold your breath on the latest one
the gov dispute will drag on for months - look at the other ones currently kicking the can down the road

they would have had to highlight any "going concerns" in the interim accounts

normality returning - it is a good question

i am surprised to still see how many masks are still being used. i think people have got used to it and with cases still high are not willing to risk it on boris reverse plan b action to distract and save his hide. personally with still best part of two months of winter to go and new omicron variant i am expecting cases to rise again rather than have peaked. hopefully new stealth omicron variant will be "mild" again - though as some have said that is relative

i have a social event this afternoon where i will only be admitted with a negative lft test. i will still need to test regularly for work and wear masks

i think the uk has always been relaxed with respect to covid compared to other countries .the issue is the big picture in the world. cases in france this week were 400,000 to 500,000 every day. italy and spain were also high.

a friend came back from greece where you have to test do do anything restaurants / bars / pubs / clubs etc . the gov give you a free test for 5 working days and you have to pay for your own at the weekend.

as we are coming out of winter other parts of the world are going into it. so this should keep the virus in some form ready for us again next winter if not sooner.

i take on board the arguments of a) we have to learn to live with it b) just a severe flu c) conspiracy theory etc etc
i am fairly in the middle - listening to all sides and agreeing where i personally see merit. however i am not sure we can say we on the road to normality just yet

thanks computer - brilliant hack! i usually use the cache record on google search. sometimes works sometimes not.

oke - you have posted some sobering thoughts.

here is my take. i don't think covid is over just yet. i am expected cases to rise due to stealth omicron - a lot more contagious yet again and may even result in reinfection ..who knows
the next completely different mutation will be key. could go one way or the other.

next winter could see the whole thing rear up again - but how prepared will we be if everything has started to shut down. eg outlets like dam?
dam have got an interesting position. do they close or diversify? and here is a key opportunity for odx in my view

odx have a good portfolio with hiv/food tolerance tests. they are currently worth nothing because the company can't sell them. sales team is pathetic and should be paid on results / commission not just given a weekly wage.
i have said all along that they are choosing the wrong markets. sell to the chinese? really? they will buy a batch to pick apart and reverse engineer. next thing not only you lost your customer but got lots of cheaper competition - madness
hiv testing in africa?....price is key - too expensive and it becomes a pro use and they are probably better alternatives

however now sell these products to dam - they have diversified and odx don't have to sell. tolerance tests /hiv would sell in uk. the islington yoga bunnies would be all over food intolerance and a private self test for hiv should be a nice liitle earner for those worried ands not wanting to go to the nhs.

tie that up and start selling both products in eu/ usa etc.... gives some time to see if any mileage left in covid

many thanks for the great input on worst case scenario liability over DHSC dispute. It has been a brutual week and being rather heavily invested i was really trying to work out what has gone wrong and is there a still a case for NCYT etc. i feel with a bit much more relieved knowing the extent of the worse case scenario and therefore how much to value NCYT at present

my conclusions is that we hit a perfect storm
1) investors wanted out before results - no point staying in with AIM companies any more. good news gets barely recognise but a hint of something negative and all hell seems to break out. this started the drop
2) the private eye article - "coinciding" with the results about to be released??? feels a bit iffy but damaging to sentiment
3) the timing of boris acting as if covid is over - purely as a distraction from partygate imho and hope in keeping his job - was just murphys law bad luck and another major catalyst
4) the stock market is jittery due to russia and other macro economics. some people just want to be in cash
4) covid stocks have lost the gloss in recent months. some have already made their money and some have been hammered out.some feel it is over and moving on to the next "thing"
5) the results came out and were more or less as expected - however a badly worded section giving a possible predicted 50% drop was a schoolboy error. you never give the market ammunition to hit you with, other previous RNS were suitably vague on not knowing the future - this one would have been better to follow suit. its is the truth anyway
6) poor presentation by CEO - bowl of word salad with lots of buzzwords and no substance. might fool some but did not fool the market
7) CEO talking of update in april when company already has poor communication did not go down well, AIM companies tend to drift on silence. why stay in and risk something unexpected when you can get back in later - more sells.
8) as SP dropped so some investors panicked
9) loss in sentiment over dispute arising from lack of understanding the worst case scenario

OK. so how do i feel going forward? good company that still earns from covid around the world even if uk thinks it is all over. lots of cash underpinning much of the current market cap. looking to diversify. a positive resolution to the dispute could result in substantial cash injection. i believe a compromise will be found as both parties would prefer to avoid court to as brings bad publicity and risks relationship. if it did go to court i would favour NCYT as they have tried to rectify issue and DHSC could/should have informed earlier before receiving goods they then refused to pay for.

NCYT may never get back the s*xy covid image - might not be such an AIM favourite going forward. I have concerns over the CEO as i prefer substance over rhetoric. there are question marks over how the cash will be used and how accretive it will be,.

however all in all = I am happy to still be holding

GLA

boris suddenly declared after almost 2 years of fearmongering that it is just flu to distract from partygate and save his skin. interesting how it is serious enough for vax adverts constantly on my radio but testing is becoming obsolete?

it was too soon in my view with almost 2 months of winter left .i am expecting daily case figures to increase again shortly due to new more contagious omicron variant. touch wood severity stays low. ?the new omicron variant looks to be more contagious but still mild in comparison to delta etc. there is talk of a neocov as well. another variant and it will be game on again.

elsewhere in eu..france has had 400-50000 0 cases per day all week. italy and spain still high.
i met with a greek friend this afternoon who was out there over holiday period. they have to test before going anywhere. they get free tests one every day during week but have to pay for any at weekend. 15 euro a pop. travellers obviously dont get any free ones. how odx would have loved to get a foot there!

however the question is even if odx get eu approval will they be able to sell anything? has any groundwork been done?

luckily odx have a good portfolio but they really really need to start monetising quick smart

Oke - can't see anything that soon on knowing anything from DHSC. i doubt the legal advice has changed

jag seems too shrewd to take over - see an announcement of no placing in RNS and then immediately look for one. He has blown his credibility as a CEO in the first 5 mins

TW does not like odx - and tbh he has some point. however it is no skin of his nose if shareholders suffer. if it turns out true then he is a guru - and there is a chance sometime in the future it will. if not then no harm done to him.

would be good for odx to rns on monday. further to press speculation we re-iterate a placing is not needed in the short term. by the way here is an introduction from jag on his main priorities within the business etc