Member Info for Dunk_Biscuit

Yes I think there is so much potential. I really like the Chinese partnership too I hope they can find new applications which will be exciting.

They also received 6 million in July from DHSC and part of that money went to pay their suppliers who were waiting for payment so it's difficult to calculate cash burn .
With now a reduced staff of 70 let's say the average cost of employing them is £30,000 pa with pension contributions and national insurance etc.. then that's a £2 million wage bill for the year at the very least .
Abingdon are in survival mode with most of their projects and pipeline on hold . They are strapped for cash with will effect their future income stream as they aren't able to make progress on future projects.

It's treatable with penicillin but just illustrates how sneaky these superbugs are .

https://www.telegraph.co.uk/news/2022/11/30/undetectable-superbug-strain-strep-discovered-immune-antibiotics/

I absolutely agree , delisting .

P.s. I do understand that Abingdon are trying to change direction but it needs time and money both of which are running out fast .

The Chinese have gone down the testing and isolation route to try to control Covid . They refused to accept Western vaccines and unfortunately their own vaccines weren't good enough. What they are good at is testing and under their Communist , centralised approach to production have quickly responded to produce cheap and effective tests for covid on a vast scale . Not only for their own population but for the the rest of the World .
If you believe Abingdon can compete with that on price and production capacity then dream on ! My advice would be sell but at the end of the day it's everyone's own decision.

I can see their cash running out and then going into administration. I would say the company would then go private being bought back by management. Then a big reduction in staff so they can concentrate on developing tests for third parties. That's my prediction but could be entirely wrong of course .

I hope so too ...they could raise more a 50p I guess ...the same price as before .

Abingdon can't compete with China and they don't have enough cash even to put up a fight . Its game over ! They will probably go back to being a private company or taken over on the cheap .

They are going to have to sell millions of tests just to cover their wage bill .

It's a study which suggests new strains could evolve to become worse than Omicron ...so they might evolve at some point in the future .Sorry my mistake .

https://www.livemint.com/news/world/new-covid-19-strain-likely-to-be-more-dangerous-report-11669458330530.html

Yes I was in at what I thought was the bottom with an average of 7p . They really are going to have to cut their staff down to skeleton staff levels if they want to survive.
There is a new strain of Covid which looks to be worse than Omicron so there could be a change in circumstances. If they can continue with the new owners of Vatic's IP to develop the flu test then that would be great . But as they didn't mention anything of the sort then who knows how the future will pan out .

I had hoped for some good news on results day ...unfortunately I was so appalled by the results that I sold up at a loss soon after they were issued and will never be back again . They didn't even mention Vatic which they should have done . All is lost here as far as I can see . Very difficult to see how they can turn this around with such little cash remaining. I assumed they had double the money in their bank !!

There is no mention of any valuations of any potential company they will be investing in or when they will be investing their funds . Read the prospectus !!

I can't see any reference to Destiny in Conviction's prospectus ....only a potential of investing in the sector.
Anyone wishing to see exactly what is mentioned can download it here ...

https://clsc.uk/

Destiny have said they would probably need to raise more funds next year ....they even mentioned a potential listing on NASDAQ depending on their market cap .. So Conviction could come in on the new fund raising after Destiny have secured a partner. If so then it may not cause a spike in sp as any new funding via a shares issue will have the opposite effect.
I'm extremely bullish on Destiny and really believe it's going to be a winner so I'm buying in at the moment .

I would think the share price as it stands has factored in all the bad news . There really needs to be some good news about their pipeline otherwise I think the sp will deflate .
I'm in it for the long-term ...there are many opportunities out there in the quick-testing market . Farming and livestock , bird flu , pet health as well as a multitude of other applications. Testing will become more sophisticated as time goes by with technological innovation. ....I hope !

Another problem is competition from other manufacturers. There is already a combined flu and covid lateral flow test available in the market . Why buy two kits when you can buy one . Abingdon have to keep up with the competition or be left standing on the sidelines .

It depends on what can be conjured up with the cash they have left .