Member Info for Computer909

"ODX have been very quite of late"

Just the two RNS in the last 10 days !

"You believed the rumour report on placing and you can't even quote it"

Defo number 4)

"it requires a calculator a pen or pencil and piece of paper to write all the information down"

Is that the same piece of paper that ODX tried to tout around the banks for an overdraft facility and got laughed out of town !!

Anyone that has been on this board for more than a year, has heard all the wild wishful calculations as to how ODX will make us all rich, none, i repeat none have been accurate. They had their chance with a government contract and screwed it up, they are back to being a primary school laboratory in the arse end of nowhere.

When this all settles this company will be lucky to have an mcap of £10M for the foreseeable future (ODX's own projections for CD4 sales only really take off into 2024/25, the idiots really believe they can sell food-tech into China!, that isn't turning out as expected is it?, so its a lights on, lifestyle company at best), so whether that £10M is shared between 183M shares, 283M shares or more, we will have to wait and see, but i am absolutely sure that ODX is not worth £275M !

@marik: "it's a little beyond some people"

Its definitely beyond me how you value ODX at £275M, and have the audacity to try and defend it, it to most on here that have been kicked in the nuts by ODX for nearly two years, I'm sure at some point you will understand also.

"30th Apr 2021 ; Colin King, CEO of Omega commented: "I am delighted to announce the launch of the VISITECT® COVID-19 Antigen test. We look forward to updating shareholders on our commercial discussions as they conclude."

The only person that has turned out more deluded than Donkey King is Marik !!

"Think about, 2 months on rumours which you believed"

Think about 2 years of utter bullsh it which we believed.

"£275m"

Raving mad, just raving !!!

ODX have been late to every party, now it looks like they are even too late to raise cash via a placing.

Lets look at the company's peers

GDR raised with a 40% discount, now 25% below placing level
ABDX raised with 34.2% discount, now 33% below placing level.

based on this a placing at 5p would see the ODX share price be 3-4p within weeks of the placing, no one is touching a placing without this being a firesale.

£275M, unless they produce a considerable revenue stream within weeks they will be lucky to be worth £2.75M

@marik: the issue you seem to be obviously oblivious to is with ODX’s history just the mention of a placing, to anyone that has been here for more than a couple of weeks, is clear that they will successfully screw up again. They have done nothing but be a textbook example of a cluster fxxk for the last 20 months

“Only the foolhardy will take a chance on this now that the company have CONFIRMED they ARE IN DISCUSSIONS regarding a fundraise” , SP is being annihilated,”

Only an utter bunch of idiots puts out an RNS saying what they did last Monday, absolutely no regard what so ever to the shareholder or market sentiment, The RNS has turned ODX into a toxic sewer no one would touch with a barge pole, best thing they could do now is to get the placing done, as no one is confident they won’t do it , even if there isn’t an immediate necessity, at least it would give us a chance to draw a line under this catastrophic sh itshow.

Reading between the lines of the “ difficult market conditions “ statement I think they were shutdown hard when they tried to do the raise, as no one had a clue when the sp slide would stop, and last week’s announcement of approval, but not approval did nothing to help that situation.

Without some considerable revenue intake, we are looking and a serious issue for a company that got knocked back at the bank when asking for an overdraft extension, and struggled to sell the family jewels in a placing.

Whatever placing they were offered looks like it will need to happen before anyone takes anything they say seriously again

#Children_playing_at_business

"ODX feel they spent it as permitted - the gov don't agree."

I suspect that this is just the process of finishing out the contract, the DHSC request any payment that is not spent back as per the contract, and ODX just simply have to demonstrate they have spent it correctly, by supplying suitable evidence as per the contract.

Mind you not sure that Donkey's subscription to porn-hub premium and a lifetime supply of Buckfast will be seen as an acceptable spend, neither will be the ludicrous rebranding and the car-park extension !

@marik, Again with ODX, why make so much of the request for repayment, why not just drop the records of spending on the DHSC lacky’s desk and tell them to do one, like any other company would have done

But ODX put the worst possible slant on every thing when they talk to the market, it’s like oh look what the big bad DHSC are doing to us know

The Company is ran by idiots

@Marik:, I wasn't aware it was a private conversation, lol.

I don't think we are disagreeing, and i have said in previous posts that ODX shouldn't really be required to repay any funds, (because they have told us they spent the £2M and additional cash of their own on the phase 1 preparation)

The issue is that the contract basically states that the pre-payment amount (that can not be attributed to the contract work) will need to be paid back, so whilst we expect that no cash will be payable, we do expect that ODX have a lot of accounting to do for what they have spent, if they want the DHSC to accept the fact.

Prove it ...

"The Supplier shall repay to the Authority the balance of the Preproduction Payment
which has not already been repaid to the Authority by way of a deduction in the
Charges on demand and the Authority shall be relieved from making any further
balance of any Preproduction Payment"

Prove it ....

https://atamis-1928.cloudforce.com/sfc/p/#0O000000rwim/a/4J000000kI0H/EySZ28HhbGWp.KyQFExkrBzY54f6HXd6hOd1W5fDn3E

"The Preproduction Payment will be deducted from the Charges to be paid to the Supplier
or repaid to the Authority in the event that all the Preproduction Payment has not been
repaid to the Authority prior to the Contract End Date in each case in accordance with
Schedule 3 (Commercial Model)."

"The DHSC contract states that ODX would not be paying back if the money has already been used (nothing owed)"

The contract doesn't say that at all, what it says is that any expenditure that ODX can demonstrate was expended purely for the contract would not be refundable, This means that there is a lot of work needed to demonstrate what they spent the money on and that it was purely for the DHSC contract. Luckily they kept the DHSC equipment separate in the new building, so any reputable company would have kept records of their expenditure for just such a reason, however this is ODX, they can't even fill in a simple form without screwing it up.

Companies house filling of Donkey's termination has the wrong year on it !!

I know ODX would like to forget 2021 ever existed, but to actually submit a form to companies house without it being proof read, is absolutely criminal, Utter incompetence over and over again !!!

"It looks as though the BOD could not even advise Co House of Colin King's termination correctly"

Its very difficult to fill in forms when the teacher will only allow you to have crayons, why do you think the approvals have taken so long, how many times have they screwed that up is the question?

"It would be the end of our Chairman securing another seat on another board"

" Simon is currently Non-Executive Chairman at AIM-listed Fusion Antibodies plc, having previously served as its CEO up until 2011. Simon is also Non-Executive Chairman of C-Major Medical, a private limited company."

Simon doesn't care about ODX, its his side hustle !

"Omega scratching around trying to sell 100M shares at 5p"

Unfortunately shares have been they only thing they have been able to sell in the last 2 years !

"as any delay will risk the current stock of competitively-procured LFTs being exhausted thereby introducing a significant risk to public health."

Just like the £4.7B they overpaid for on PPE, because there was an urgent need to buy PPE from "T-shirt Tony in Turkey" !