Member Info for Computer909

"so CEO says the contract doesn't say what the FOI letter is stating."

But the detail in the FOI letter does explain some of the strange things that have been going on over the last 6 months, namely why the DHSC keep putting Colin in touch with companies that have an approved test,

Colin cant negotiate the use of a test from elsewhere, and never bothered with Visitect PD approval as he expected Mologic to push it through, so the DHSC can't order from ODX,

"...try to destroy sentiment.."

Nothing destroys sentiment more than the company selling nothing for 18 Months, whilst still making out everything is on track

"so yous can attain a lower re-entry price"

After being here since May 2020, I can assure you that no one wants a lower entry price, Everyone is fed up with Colin's bluster around "transformational" time for the company when all he does is talk about talking, I think he's talking to himself over and over again, Whats the definition of insanity, doing the same thing over and over again expecting a different out come, sounds very much like Colin's engagement with the DHSC.

Realistically most are here now because they have stuck it out this long and would be gutted to miss out if Colin can actually pull his finger out of his arse and achieve something

The problem being again is Colin has no idea how long regulator approval will take, and its someone else to blame for his leadership teams short comings .

https://www.gov.uk/government/publications/assessment-and-procurement-of-coronavirus-covid-19-tests/outcome-of-the-evaluation-of-rapid-diagnostic-assays-for-specific-sars-cov-2-antigens-lateral-flow-devices

"how many times do they have to show you their hands ?"

Oh the old "They want your shares narrative". perhaps it's just that we have heard it all before.

October is the new April, or is it November? (2022 is the new 2020 ?)

Or perhaps Christmas, 'The Holidays are coming, the Holidays are coming', 2020/2021 has been a constant holiday for ODX !

"yet choose to sit quietly ,vastly overpaid for delivering nothing"

I don't think they are choosing to sit quietly and do nothing, for me its clear Colin thought the DHSC contract was going to be all he needed to worry about this year and everything else was ignored, when it turned out to be the "pig in a poke" it now turns out to be, they have desperately tried to play catch up with the rest of the market. Unfortunately slow engagement with the regulators means that whilst at one point they were ahead of the curve, now they are playing catchup, at a time when regulator approvals are backlogged due to the vast amount of companies that have now brought tests to market.

Regulator approval could take weeks, could take months, or like the imminent MHRA approval for the RTC test could never arrive.

You pays your money, you take your chance !

Omega must be the only company that during the pandemic have been connected with two government contracts awards and still yet to make any revenue from either.

If Carling did screw ups, they would look like Colin King and ODX !

Innova payments have been previously been recorded as "PGO Foreign Currency payments"

With regards to the DHSC payments for August, there is also a payment for "Test Kits" for "Additions purchased - Finished goods & Consumables" paid to "PGO Foreign Currency Payments" in the total of £75M

I wonder which Chinese CEO's continual dialogue with the DHSC has resulted in that ?

"with a barrage of negativity"

Well you are free to use the filter button, you can just sit at home in your own world wondering why on earth Colin can't sell a test when everything is so rosy and fine.

Or you can offer up some positive spin, but please don't spout anything that has come from Colin King, the guy hasn't got a clue what day it is.

I have posted before that the imo the DHSC contract was known to be what it has turned out to be, a standby contract worth nothing, and the important revenue stream for ODX would be private sales, but ODX are so slow to market I am beginning to think that they wont even achieve a single made in Alva covid sale, and that is truly shocking.

A challenge for you: Ask Omega if they have been paid for a single made in Alva Covid test since the start of the Pandemic, I'm interested if you can get an answer.

Its also worth considering that last years placing was offered at 40p on the back of mid-market price of 55p (a 27% discount), and that was when the company looked to be in a fantastic position to take advantage of the pandemic crisis.

Any fundraising will be as a result of a truly monumental screwup, GDR's 40% discount wont look out of place if a raise does come here in 2022, and even with that discount GDR's placing was not fully subscribed, Colin's rhetoric has put the company in a very sticky situation if Covid sales don't materialise.

Will Boris cover this today , he is on at 11.30?

Have you been watching the Tory party conference, they barely mentioned the Pandemic, they don't want to keep it in the news as that would draw attention to them closing the furlough scheme and taking back the £20 UC uplift.

Sunak is preparing to raise cash from anywhere he can and the Bumbling idiot Johnson is more interesting in Cod, Chips and a pint than sorting out the issues with the country,

"Holidaymakers will be required to film themselves taking a coronavirus test after returning to the UK under plans being considered before half-term."

This government is truly unbelievable, they will be requiring you to post your test on TikTok next !

The 7th month of a "Transformational" year for the company according to Colin, and we are still discussing them being a going concern.

What a sh i t show !

Flowflex !

So what has ODX been reduced to?, this Goliath of the UK diagnostics industry.

We take a test that is manufactured in China, supplied by an American distributor, we take it out of its box and put it into a NHS test & trace box and send it on its way, and that is our primary revenue stream 18 months into a pandemic which has produced the biggest demand for rapid diagnostics tests in a century

Well done Colin a truly transformational deal for the Company

"we made money from the casseting which would have been paid for from Surescreen"

Did we, was it ?

Or did it just cover the lights on cost of all the extra expense we have taken on ?

We have to wait until November for the interim update i suppose

"No way they would of agreed to up to £3 million overdraft based on normal figures."

Omega were £1M overdrawn at the time of last years placing (June 2020), they have made a £2.2M loss in the year 2020-2021

Yes they have a small amount of cash in the bank, but they have yet to deliver on any crucial revenue stream, let alone the promised R&D of next generation tests for TB and Meningitis.

If they don't get their act together very soon, things will start to become very tight, based on their performance since the last placing who is going to take them up on that if they don't offer a considerable discount (as per GDR).

Realistically if they do end up having to raise cash in 2022, Colin King will need to be gone

“the number of flowflex boxes in the metal containers at the back doors“

Well if true that may explain some of the recent communication around the cassette/ pouching stoping for surescreen but continues for DHSC

Again poor communication from the company

“Flowflex”

Based on what evidence? You may as well say they are manufacturing Willie Wonka magic gobstoppers!!

“we are expecting approval in due course “

Sounds a familiar line, last year we had MHRA approval imminent, and we know how that turned out

But we still reward the person in charge of regulator engagement with share options, that she offloaded as son ad she could !!