Member Info for CaptainSwag

DR - thanks for your patience and time and effort. you too Chris

this is when these boards are at their best when you can learn stuff and discuss pros and cons

"The £20m warranty provision was charged to Cost of sales in FY20 and put in the short term provisions category as a liability on the balance sheet.

DR - so it has been accounted for as an expense. However does this mean the cash has been put aside or is just sitting in the bank as part of the £101m? If this expense does not end up being used for DHSC will they have to adjust in future accounts or could they leave it as "warranty" pot?

sorry if stupid question

wilson - the other guys are a lot better at reading the financials than me

the £19m is listed as Provisions short-term on the balance sheet under current liabilities. I was expecting this figure to be somehow ring fenced in the current cash position but it does not seem to be ?

maybe they think that in the scenario that it is used it would be more than offset with invoices being paid?

maybe somebody more clued up has an idea on this?

thanks DR ..that makes sense

Have to say i am feeling much better about things. Yesterday had me doubting - what the hell is going on?

There is the possibility that if it goes to court that NCYT will have to pay something but it is not as bad as some are thinking. Personally i think it will most probably all get settled eventually when the heat is off the gov for dodgy contracts.
however in the event that it does go to court - and neither will particularly want the publicity or costs - i think a court case would rule in NCYT's favour

i quite like TW though accept he is a very marmite figure

i think he expects that odx need to raise - and with time they will if they don't start getting their xxxx together. so being fed a rumour of a placing i am sure he is more than happy to go for it . if it does not occur he can say they changed their mind - and were just sounding the market out. in the mean time the company and shareholders get battered.

it is crazy that a company on the cusp of greatness are faced with possibly having to raise in the summer for the leccy bill - if they don't start selling something. they need something and quick. in the meantime jag needs to come out from hiding under colin's pot plant and deny the rumour and give us a clue of his forward strategy. not much or an unreasonable request

"There is no placing .. How many times omega said so.."

First time ever that I agree with pink man

good post DR

could you breakdown how you arrive at the corporation tax rebate - what is that based on?

interesting that looking at the balance sheet as of 30th june - and we are no doubt worth more now. the mark cap is less than net assets..crazy

i have only had experience of one commercial court case - HUR - where the judge was excellent and very reasonable
if this went to a commercial court i think any reasonable judge might question why the dhsc informed ncyt so late of their dispute and then received more goods Q1 2021? although i hear what you say about them being different products

the fact that ncyt are willing to cover the goods under a limited warranty also suggests reasonable behavior in trying to resolve the situation

does anyone know how well DHSC usually do in contract disputes if it goes to court

computer - my suspicion is that jag dos not give a xxxx about shareholders - as evidenced by no comment from him on the rns of his appointment.not even "i am looking forward to working as CEO for ODX and maximising the commercial potential in our excellent portfolio"

i suspect we may not hear from him until he is forced. the rest of the bod might force him into something sooner rather than later to save their hides.

if there is a placing it won't be genuine II - more likely buckets shops who forward sell all the way down to the price they bought in at.

if they really need to do a placing they should offer it as an open offer to existing shareholders.

"What was also a big relief was the £4.7m contract we got from the DHSC mid last year several months after the dispute. Proves the relationship is still there and further supports the opinion that a further deal may come out of the dispute should it be in the interest of both parties."

amen to that

thanks oke.

tw sometimes gets it right sometimes not. however always worth listening to. unfortunately odx has gone for bright new thing to one of AIMs whipping boys. someone spreads this rumour and then shorts it.

if there is a placing - and i really can't see it - then the sp will drop to the placing price for sure.

ODX really need to respond to press speculation - RNS on monday morning or there could be carnage

FFS ....odx - the company that just keeps on giving!

i can't see there being a placing - how would they justify it a week after that rns?

even if as suggested they have to pay back the gov - they could do it on instalments or delay. the gov could hardly do with the press of putting the company it was suppose to use into closing down

can anyone copy n paste the article?

just don't believe it

It is one thing odx not responding to twitter gossip about placings. It is quite another when in a high profile share reporting site does.

This needs an RNs on Monday..one way or another.
Time for Jag to go public.

Sorry but anyone who thinks we should just give him time is really taking the biscuit.

Tw..is a marmite character. Personally I like him and value his content..now I understand the crash in SP today if that article was released earlier.

I can't see a placing so soon...after an RNs saying they don't need one.

If it is then the whole board need to go..actually better still I hope we get sold off

"Now I feel what this gov wants this gov gets, "

guess that depends on the judge if it goes to court....the only commercial court experience i had is sitting in on all the hur stuff. the judge was great...very reasonable.

if they do have to pay it back it won't be for ages (ncyt have been almost a year and no sign of light at the end of the tunnel) and could prob be paid back in installments.besides if odx don't have the cash to pay it back by then it won't matter anyway. it will be game over

gazelle - with all respect NCYT is a different company. much better prospects and £100m in cash. so clearly not in the mess odx are in

the new guy at ncyt came in and wanted to do his evaluation and then talk. presumably he was headhunted or the best applying for the job
he at least did an introduction statement on one of their rns

jag on the other hand has been at the company for years and already a director. so should already know enough about the company to be able to make some kind of opening statement. he had no external competition it would seem but even so should have had to interview and present his case
shareholders had no opening statement on the change over rns . nada.

the market clearly doesn't like as seen by the 30%+ drop since he took over. nothing else has changed so that is down to him. still radio silence. not even tweets
i am willing to give him the benefit of the doubt but he is not making it easy

"If you're still here bashing after seeing ODX get pummelled into the ground over months,
then you really need to get laid.

I'll pay for the condoms if that helps."

well i do feel like i have been ****ed by ODX.....

wasn't it after the dam visit that colin......cough "stepped down"?

9.94p to sell..FFS

and still nothing from CEO

"Yes- Comms from the company could be better."

interesting that is the only criticism of the company in your post. everything is everybody other than the company's fault..

"Yes, keep writing those e-mails....you are doing a sterling job."

who is she complaining about you - to - now?. FCA lol ..were you also responsible for the sp crash...nothing to do with colin..