Member Info for Computer909

Apologies: When they said

@OmegaDiagnostic
Apr 30
We fully expect, once we have The Department of Health and Social Care (DHSC)'s licensed test confirmation, to rapidly move towards full utilisation of our 2m tests per week capacity.

"Our 2M test per week capacity", not target, i assumed that is what they had, silly me !

@MerchantBanker : Lets not forget that the 2M capacity target was on the cards in October 2020

https://www.investormeetcompany.com/investor/meeting/trading-update-investor-presentation-1/presentation

Before the DHSC contract was signed.

"These are the bottlenecks, not the operations of the company which have gone to plan with scaling up capacity "

Not sure everything has "gone to plan", in April we were told we would be producing 2M tests a week, now we have confirmation that they haven't even reached that figure for available capacity and its still a target we are working towards

ACON BioTech Flow

https://www.aconlabs.com/sars-cov-2-antigen-rapid-test/

"Product is Available for International Distribution Only – Not Available in the US",

Another one no one else in the world wants to touch apart from the UK Government !

@Bigjock36: I think its just that everyone would like to see the supporting statement around the price target, you must of got it from somewhere in which case can you please share, that would be the simplest approach rather than attacking people personally again.

@Sledgey121 : A personal view is a little different

"Met with Colin and Kieran after the presentation and has set a price target of £1.20-£1.70"

So if the CEO and CFO are sitting down with private investors to "set" the target price, then that is market sensitive news.

@Bigjock : "David Evans who holds over 5.2 million shares met with Colin and Kieran after the presentation and has set a price target of £1.20-£1.70"

Was this shared officially and did it come with any supporting justification, can you share the link ?

"Another piece of HMG machinery being delivered to omega is huge because it confirms all the plans are currently being put in place"

This confirms is the continued support of ODX for the Cassetting process they are currently undertaking for the government not for any likely movement in the DHSC contract to stage 2,

When questioned on the significance of the new delivery and whether it was additional or outstanding equipment, the company said the following.

"The original equipment provided by the UK Government on loan allowed ODX to be able to produce cassettes for LFTs via a manual process, this is set up and there was no failure by ODX to meet any deadlines as part of the contract. This new equipment now allows this process to be more automated."

"SP hasn't tanked since it's release"

Lets not beat about the bush, the SP hasn't tanked because we are basically left with two groups of investors, the first are way underwater and are looking for at least a small recovery in order to get out with something, the other group that recognise the potential uplift but can ride the possible downside.

ODX is on a knife edge, any positive news on orders outside of the UK will see a spike (I don't even consider the DHSC contract anymore, its a lemon). But any negative news could see the price crumble to pre-covid levels, Lets not delude ourselves the non-covid business doesn't support the current mcap because the fundamentals clearly demonstrate it doesnt.

Also if we look at the non-covid business, how long is it before the new "Owners" at Mologic/Gad determine that producing a CD4 test at non-profit is a better idea than paying Omega a premium, and that market disappears?

We have seen timelines of Xmas, New Year, Early in the year, March,April,May,June, July and now August.

Sooner or later something has to give oneway or the other.

https://www.gov.uk/government/publications/dhsc-spending-over-25000-june-2021

No Payments to Innova, but £27.5M to Surescreen

……although I will defer to BigJock and accept August!

Seeing Omega has never delivered on time, let alone ahead of time, perhaps we had better defer to the chairman and expect approvals "this year"

"Additionally, we have accessed a COVID-19 antigen lateral flow test from the UK company Mologic Ltd which, following a detailed technical transfer, has been regulatory approved for professional use with self-test approval anticipated this year and is now ready for commercialisation under our own VISITECT® brand."

We are already 4 months waiting to to updated on the discussions .....

"The Company remains in discussion with a number of potential commercial partners looking to order the test and to distribute the test on Omega's behalf and the Company will update shareholders in due course."

@Roly12: "If GLP win the case it could be found that the contract is null/void therefore no payment will be made"

Not sure this is the case, unless ABDX are proven to have acted illegally themselves then the payment will still need to be made for services provided. The GLP issue is with the way the government has acted during the process of issuing the contract, There is no way ABDX could have known if the government were cutting corners with the process.

The Ulster University studies findings puts pay to the GLP comments as to “the widely held concerns that tests were not fit for purpose”

As long as the Ankura Consulting audit doesn't throw up any issues the contract payment should be forthcoming very soon.

@Maximillian3: I raised the "Andrew Brogan possible influence" issue with my MP who had no clue what has been going on, He passed my query to the Chair of the public accounts committee (Meg Hillier). I have since had notification back from them that they are returning to the Track and Trace operations "Later in the year", and have passed the query regarding Andrew Brogan to the National Audit Office for their attention.

I would encourage everyone to write to their MP regarding the Innova Scandal, and query why the Government is not making good on their promise to support the UK diagnostics industry, and has continued to place orders with Innova for delivery past the August 28th date when the MHRA EUA approval ends.

"What do you think they'll do with them?"

Jenga ?

"This acquisition is testament to the extraordinarily high-quality tests developed by Mologic, some of which we manufacture under our own label."

Wouldn't it be nice if for once, Omega could replace the words "Manufacture under our own label" for "Sell under our own label"

Wishful thinking !

This is the full release

https://bidstats.uk/tenders/2021/W28/754843819

Interestingly delivery dates into December 2021, at least three months after the EUA currently runs out, does that tell us anything ?

DHSC Spending for June is due to be published this Thursday, so we can see how many more of the UK taxpayers millions they have sent to the peoples republic !

In the Investor presentation Colin eluded to Jag Grewal being refocused on the Health and Nutrition business, (Probably because he has been absolutely beyond terrible in his role as Commercial director), and will go down in history as the worst salesman ever,

So who is focusing on the Commercial director role, and lets hope they do a better job ?

Cant get a free LFT from the government because the have run out, Cant get a paid for LFT from Omega because even 3 Months after "Commercial Launch" there is still no distribution chain for professionals to purchase Visitect.

https://www.thesun.co.uk/news/15631781/uk-runs-out-covid-lateral-flow-tests-site-freedom/