Member Info for Computer909

@Bigjock36 :”He has been happy with me posting them via Twitter “

So our mild mannered CEO is happy to provide investors update via some random on twitter that abuses people on a regular basis,?

So how that doesn't seem right

@Bigjock36: Actually it was innova themselves

Daniel Elliott, of Innova Medical Group, said the UK was his biggest customer, with hundreds of millions of tests already delivered and a total of one billion expected by the middle of next month.

Innova, which is based in California and owned by the private equity firm Pasaca Capital, is in discussions with pharmacy chains in the UK to sell direct to consumers. It is building a factory in this country to satisfy demand.

@Bushmaster: "Capacity is the right word, unless you are committed contractually, then you need to deliver."

110% agree, hence my issue with ODX changing their approach to the tweets in feb, as you say we expect to find out very soon.

@BigJock: "Really poor attempt at an argument - Markets looks forward",

It was you that tried to justify the 2020 loss with an impairment charge that was from the the previous year, not me, markets look forward very true but are always aware of past performance, unlike you it appears.

Its unlikely innova would be looking to build a factory from scratch, I think anyone with a ounce of common sense would expect them to take and existing building and fill it with equipment, in much the same way as ODX have done for the DHSC contract.

Perhaps Colin can answer investor answers via the official channels

@Bushmaster: "Not sure on the narrative comment, park the TT, its been pretty consistent in terms of what is going on, numbers expected to manufacture etc since Jan"

I would agree with you in the most ODX have been very consistent with the "Capacity" figures so they couldn't be held to any revenue commitments, with just two exceptions, the two days before the PMDR sales (16/2 & 17/2) , they switched to we will "Deliver", once the sales were complete they switched back to "Capacity", that didn't quite sit right with me.

@BigJock36: The impairment charge you mention was accounted for in the accounts for year ending April 2020,
https://www.omegadiagnostics.com/Portals/0/RNS%20Results%20FY20%20Final.pdf, The £2.3M loss we are debating was from the latest trading update so covers the year to April 2021

"A final point I would like to make relates to Innova, could you Imagine if the Government were to bypass UK companies going forward and continue to order from them?"
How does this statement get changed if Innova build a factory in the Uk employing hundreds of staff, as they have stated they are looking to do?

"To me, that looks quite an impressive position to be in",
If/when we get a statement of Tech Transfer completion and some actual supply contracts, then that would start to look impressive, at the moment we are just giving free warehouse space to the Government equipment, if we don't get that in April then we just simply go through the same empty promise and no delivery we have seen for a year, remember "This April we will deliver 2M tests per week"

@Bushmaster: the Revenue details were taken from article posted by @Junior2020 earlier in the week, https://www.investorschronicle.co.uk/news/2021/04/14/testing-demand-buoyed-by-lockdown-easing/

With regards to the ABC-19 test, the government have already shown a preference for the Fortress Antibody test, they have already stated that the task to determine when the booster is needed will be a statistical exercise rather than full scale antibody testing for the whole population.

@Sledgey121: barred from your eyes, but obviously on your mind, enjoy your green fields

@Bushmaster

Abingdon Health : Set of half-year numbers showed revenues rising almost fivefold
SourceBio International: More than doubling of annual revenues to £50.7m
EKF Diagnostics’ (EKF) full-year revenues rose almost a half to £65.3m.

The ABc-19 test was always going to run into problems when the AZ vaccine was able to be manufactured for less than the antibody test that was supposed to accompany it, without MHRA approval for home use its use in the vaccine rollout would push a greater workload onto the nhs staff and delays to the process, we hope now for further use in a surveillance roll, but that is likely to be a very much smaller statistical based use

With regards believing CK,is that his statement with regards to delivering 2m tests a week in April, or the usual statement regarding ramping up capacity but delivering nothing, as we don't have test to produce yet.

You surely have to reflect on their updates through the last 12months and wonder why we are not at an all time high with regards the SP, and have we heard the same narrative before?

@Bushmaster: A reported loss of £2.3m in the year of a pandemic by world leading diagnostics company in the middle of a pandemic when like companies have increased their revenue by multiples, £11m cash injection in order to exploit Covid opportunities nearly a year ago, zero contracts in place to actually manufacture anything.

Abc-19 estimated of 200,000 tests a week, total sales 175k
Elisa estimated o 46,000 tests a day, next to nothing sold
Visitect Antibody test, no mention of anything and they cant even supply a single distributor contact details

I’ll allow them a pause for Cd4 and food tolerance due to the pandemic

4 months for Tech transfer, we wait to hear regards the interested parties after launch, whenever that is actually achieved

When have we actually not come up short?

@Bedhead: Totally agree if you had invested exactly a year ago (or a little before) you would have multi-bagged on the back of the UK-RTC news and the promise of increasing revenue due to our position in the consortium and the opportunity it afforded us, but if you consider the growth from getting in just two weeks later (the end of April 2020) the return would be 30%, fantastic some would say, but how much of that return is now built on the fear of missing out from holders that have heard it all before from a company that simply comes up short time and time again?

@Balboa: “ if it wasn’t for him, I would have pulled my money on numerous occasions!”

With the caveat that you haven’t lost or made anything until you sell, if you had pulled your money out on those occasions would you have been up or down relative to your current position, I’m interested if big jocks posting has made you money?

Batches of 50 to 100 Uighur workers are being advertised on the Chinese internet

https://news.sky.com/story/amp/new-evidence-of-the-strict-controls-uighurs-face-in-factories-thousands-of-miles-from-home-12276248

@vascular: you really answered your own question, there are two different consortiums in place, the UK-RTC, established may/june last year to develop and manufacture the ABC-19 antibody test, and the UK Rapid Antigen test consortium established to select and manufacture the sovereign antigen test, Odx are a member of both, but the members of each are not the same

@Sledgey121: "where do you think those cuts would happen?"

Innova : £1.2B commited spend
Surescreen : £500M committed spend
ODX : £50-£374M (no committed minimum order or quantities)
GAD : £1B (no committed minimum order or quantities)

With this governments recent track record where do you think the cuts will come?

@Wallbrooke2021 : "I would say there is a massive possibility that our visitech test is going to be used and all other consortium members will also manufacture it for us"

You clearly have no clue about the manufacturing company you have invested in, we are the ones that manufacture for others not the reverse, we don't own the IP for the Visitech Antigen (or Antibody) test.
.

@2hott: "His priorities are not omega clearly at a time like this"

I don't agree, I am sure his priorities are the operations of ODX, i just think he no longer needs to keep the investors on board, because he thinks his balance sheet will be be OK for the foreseeable futures. Lets hope his management of the day to day operations far exceeds his ability to manage the market

"Omega are driven by the Government at the moment"

We have always been led to believe that ODX has multiple revenue streams, the government has control over just one, Its clear now that the company have taken their eyes off the ball with Tech Transfer (probably spent the last couple of months slapping themselves on the back with regards to the DHSC contract, and the price they got for their options.), The sales department need clearing out at the same time as the investor relations staff, but the buck has to stop with CK, he's like a rabbit stuck in the headlights, clearly out of his depth. The experience with the UK-RTC and now the NCYT news would/should raise a level of caution with anyone (and to be honest i think it did with CK, hence the RNS dampening), but he's done nothing to mitigate that risk as yet. If we get to the end of April without "delivering 2M tests" and letting the market know where they have gone, then surely his position is untenable.

@upomega: Thats really Walbrook PR’s role, so you know the source is reliable

@Walbrooke2021: (22nd March)

"Is the process of getting the Mologic Antigen Test validated by Porton Down being managed by Mologic or will Omega be submitting the test for that process, If the former do we know if that process has been started"

"Omega are not involved in the performance evaluations process and they are currently waiting to hear which test / tests have passed. There has been no guidance from the DHSC on how long this process with take. Given Omega is not involved in the process it is not able to give and update on the process and I would expect shareholders to be updated when Omega is informed which test it is to produce"

@xrayinvestor: we hope that specificity rate translates to real world usage