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NU I think you are confusing bankers and accountants! The debt forgiveness related to the prior year there was no debt forgiveness in this years accounts. Treatment of inter company balances are strictly regulated.
If my maths are right resolution 5 was not approved. Does this means a buyback not a option for distribution?
Think these will be audited accounts as they are producing annual report also. Estimated loss for year £3.5m. The EBITDA is also a small loss. DVRG have invested heavily in their resources and products in last year and are still spending more than they are generating hence the need for loan facility. We will find out if 2022 is the year they breakeven or better on EBITDA although I doubt we will be profitable before exceptionals but you never know. The cashflows going forward will be interesting, in particular if there is a significant increase in the leasing model as it is not clear yet how this model will be funded.
The conversion price is 20p a share. If lender is able to do a conversion there would be a increase in number of shares in circulation. What impact that would have on the SP is debatable as many factors can affect the SP. DVRG are using a significant chunk for working capital, which will result in revenues to pay the financing costs. We will know soon enough if all going according to plan.
Maybe some news re sharebuy back/dividends may liven things up.
RNS states - Loan repayments start at end of month 7 after loan commenced (Oct?) with £500k being payable. Thereafter a further £500k payable at end of months 8,9,10 and 11 with balance £1.5m due by anniversary of loan starting.
Caley2 its is shown in the directors deals icon above.
The only directors who sold their core holding were the two who were leaving. If there was any insider trading going on then yes this should be exposed and individuals prosecuted hence why I said I am sure directors would welcome any investigation to disprove this allegation.
The point I am trying to make is they only sold their options not their core holdings. I do not think it is wrong to trade a share however the very large amount of trading that went on caused a lot of volatility and many made money on the back of it. Nothing wrong with making money nobody complains about that!
Any chance the above could be re started given the current oil price or is it a dead duck?
Directors selling options seemed sensible to me given the SP at the time, if they had sold their core holding (except for those leaving ODX) then yes that could be construed as bad form, but they did not. I am sure the BOD would welcome any investigation into their behaviour and they would be exonerated imv. Nobody ever mentions the large sums made by PI's who traded this stock to death over the last two years or so. Hopefully we will get news on the CD4 sale soon and we can move on to future rather than continually dwell on the past!
ABDX had shocking interims revenues, significantly down. Not sure why anyone thinks they are performing better than ODX given the the capital they have raised from floatation and fundraises.
Captainswag completely agree re the £300k per month I was not disputing that. You stated in your comment "i am sure i read that they had had no further orders and were possibly not expecting any more." hence why I quoted what ODX said in their trading update. You may think it is blah blah blah but that is what they said. Re the reverse engineering bit by the chinese you forget they would need WHO approval before they could sell and that is unlikely with a copied test. There is money to made from CD4 and therefore it should have a value. What that value will be will be known shortly.
From RNS Trading update - "CD4 revenues increased to £1.0m (2021: £0.1m), as further progress is made to implement CD4 testing in high HIV prevalence countries and demand from aid agencies and non-governmental organisations continues to grow. Order intake is running well ahead of available production and the long-term prospects remain undiminished for the roll-out of the VISITECT® CD4 Advanced Disease test." CD4 has potential sales growth coming in future years which should be reflected in sales price. it is a unique test and has WHO approval.
H&N Profit FY should be circa £1.6m before tax. Sales to North America £1m and Europe £1.5m in first half. The half year does not break down between global health and H&N sales but fair to assume will be mainly H&N.
Health and nutrition sales up to £8.6m in 2021 up from £6.8m in 2020 so they are selling and growing that element of the business.
My understanding is 4p is the lowest they can offer shares at as this is the nominal value.
TB Half year to Sept 21 Revenue for H&N £4.3m, EBITA £1.1M, Profit before tax £0.87m. For full year we know H&N revenues have grown to £8.6m so if ! argins are same in second half 21/22 then H&N should show a profit of circa £1.6m before tax. These profits are completely wiped out by the global health losses. If the global health losses are eliminated by ceasing covid and sale of CD4 then left with a profitable company.
Certainly would not disagree that the share price does not reflect the turnaround currently underway. Once CD4 sold ODX should have a profitable company. It is nearly early summer, when they said sale should be done, we will see re timescale and value realised. After that we will see what happens to SP however do not expect any significant rise at least until potential warrents lapse.
The current finance person took up post on the 30th Aug 2021 and did not benefit from any options sold. Since his appointment ODX have changed strategy. He has a proven track record in turning companies around.