Member Info for Computer909

"in hindsight they should have told us"

Hindsight is alway 20/20 but looking back across the the last 20 months, the ODX / shareholders relationship has all the classic signs of an abusive relationship, a kick in the nuts one day (via RNS) and saying sorry the next (on twitter), whilst all the time they were claiming to go out to work (busy busy busy !) and were actually going down the pub and drinking our hard earned !

"Which one? Every time ODX release an RNS they seem to word it in the most damaging way possible"

All of ODX's RNS releases have been angled to suppress the shareprice for some reason, (I think Donkey knew it had got away from him without any confirmed revenue or minimum orders being agreed, even the one announcing the DHSC contract that was supposed to be transformational (We now know that ODX's contracts guy is a four year old still in kindergarten and that was probably behind that).

The last one is pretty special though, basically a direct attack on the current shareprice, similar to the Tesla tweet, but this time in an RNS

My take on it is that Chris Lea was laughed out of the room when touting for the placing based not on the company's revenue stream or future prospects, but rather the share price volatility, and the RNS was a simple way of cutting to the base in one fair swoop.

They absolutely do not give two hoots about shareholder value, the communications from the company (or lack of anything positive) and their actions are clear indications of that.

"HMG still wouldn't place an order and seemed to go out of their way to delay authorising our test"

The fundamentals of the DHSC approach to GAD and ODX contracts were basically flawed, as soon as the Mologic test failed PD the contract was basically worthless, no test developer was willing to license their IP when they knew the DHSC would pay for the tests ex-works from china, I think its obvious that Mologic will never get through PD/CTDA approvals as if there was the slightest chance the DHSC had nothing to loose by extending the ODX contract as a backstop.

The DHSC negotiating with the test developers must have been like Chris Lea negotiating for a fund raise, they must have been laughed out of the room,

Probably went something like ....
You want us to do what, when you have just spent £40m on ppe from a t-shirt maker in turkey, £2m to Han****s pub landlord for glass jars, I think we are good thanks, but we can sell you plenty of tests in the meantime, like taking candy from a baby !

"We have been investigating raising cash, but at the moment the market is difficult, so we wont, we don't need to, but could, soon, or later if we need to or not at all." .....

And would just like to prepare the existing shareholders for a shafting, if we need to, but we don't, so we wont, but we could !

"The department of health’s annual accounts report revealed that £8.7bn spent on PPE last year had been written off "

Well what better way to hide dodgy dealing with you mates than just write off the whole lot, £8.7bn on PPE, £37B on Track and trace.

And they have the audacity to try and justify the 1.2% NIC levy as being critical to getting the NHS back on track ?

Every read of the last RNS just makes them look like a bunch of complete idiots.

We have been investigating raising cash, but at the moment the market is difficult, so we wont, we don't need to, but could, soon, or later if we need to or not at all.

What type of company does this to itself ?

It reminds me of BoJo the clowns, go to work, stay at home, go the work speech

“considering this could be down to a placing price pretty soon.”

After yesterday’s RNS they may as well get on with the placing, the market is expecting it now so basically it’s impossible for any would be investor to take a position with that sword hanging over the shareprice so we are in pergotory until we get it over with,

"investors don’t cash in at a loss. Bedwetters do."

Anyone that uses the "bedwetter" attack on investors that have possibly seen their investment slide from 120p to 6.5p, is just an idiot !

"Until the Company -officially - disclose/ discuss the £cash burn......"

Until Jag, grabs his balls and gets out in front of the market there is very little hope for this sh itshow to stabilise, Hiding away like a scared little schoolgirl is not an attractive look for a new CEO

If they have failed with approvals, let's just draw a line under covid, ditch the lot and move on (I don't think many here would be surprised now), if approvals are still outstanding lets hear what they are doing to address the situation.

Let's hear about any further interaction with DAM and Lansdown.
Lets hear about the challenge to the DHSC demand for £2M
Lets hear about their steps to reduce overheads and cash burn
Lets hear about CD4 sales and opportunities
Lets hear about food tec sales and opportunities

If Jag hadn't noticed the company is in a small crisis of confidence, he needs to get out there do his bloody job, or admit the appointment was a mistake and move on.

“So they can literally tell share holders “your shares are worth 10% of why they were yesterday”

One of the worst examples in recent history was Deepmater DMTR, which placed with an 84% discount, and a 558% share dilution , effectively wiping out existing shareholder value overnight

This is AIM, the Wild West !

"For some reason there is this certainty by some that the directors/board are liars,"

Thats what happens when everything you say for a period of two years turns out to be complete bull****, people start to think you are a pack of liars, that or completely stupid, and even a single cell ameba isn't that bloody stupid.

"The good news is....it can only drop 7p more"

They will announce a share consolidation next !

"Then why the heck release value destroying RNS, doing so has knocked 3rd of the SP"

ODX the company that brought you Tesla-gate, just keeps giving !

"Jag was actually in charge of their Food Testing portfolio and has never headed up the Covid stuff"

That is not true, it is only recently that Jag and John Bannister swapped positions, Jag taking over Food Tech and John taking Global Health. Jag was responsible for Covid sales (or no sales) through 2020 and most of 2021

6.75p equals the all time low of the company previously on 24th March 2020, the day before the UK went into its first covid lock down.

What a sterling job the BoD have done in taking advantage of the Covid opportunities they told us they had identified.

Unfortunately there is no holding this price without some news PDQ, a 5p placing for £5M would look pretty good at the moment.

S H I T S H O W !!!

“Omega says any cash raise will come at a discount”

This mornings RNS, has to go down in history as the biggest attack on shareholder value by their own company in history.

They have spent the last two weeks touting their arses around the flea pits of the institutional investors, only to be laughed out of town.

Then they come out with a statement that basically says we are not desperate enough at present to take the shafting that is on offer, but when we are we are fully aware it's going to be given to us hard and fast, as we aren't worth the current price and have been told so.

So the Investors can now just sat back and think to themselves, they will be back, and when they do they will be really desperate, and willing to take whatever is being offered.

I'm surprised they didn't warn us not to order a Tesla again this year !

"reckon about 33% more dangerous"

Still nowhere near as dangerous for your health as being an ODX investor then !

When John Bell said last month that the UK diagnostics industry were basically useless and needed to stop moaning and get their act together, looks very much like he knew what he was talking about.

ODX really are a special kind of useless though, in a league of their own, premiership sh itshow !

1p off the all time low and the company still has nothing to stop the decent into oblivion.

"you know their 2M LFT a week manufacturing facility"

Or the primary school science lab as it has previously been referred to !

"as they will have no money to pay the workers"

We know from the interims investor meeting slides they spent £4.4M on salaries in the six months to 30th September 2021, lets assume that a large proportion of those 208 staff have now been culled with the loss of the DHSC contract, but their wage bill still has to be a considerable amount.