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OBD have always stated they will need funding in Q2 2024 - that was in the last Aug fundraise docs.. so on that front there is no suprise at all .. It would have been much better to see those CIRT Sales up in the 3 digits to show the plan is fully on track. All about confidence..
404x There is a very large intitutional shareholder base..Just north of 50% are in singular holdings over 3% its not going to run out of cash at this stage of commercialsation ..way to much to take into account. look at the volume in the run up .. all that is no churning IMO -
TBH - I dont think the round number large trades have been sells, Can never tell - but if a big holder was to sell they wouldnt do it on a PI Frenzy spike. robbing themselves
I havent trashed it - Was very dissapointed with the update - I Still am, however there no need to be silly... IP is worth much more than SP and they have done many things very well - BUPA, MEDICARE CODES, LAB CERT, etc - Overeation .. so its a value based judgement for me - too much hot money in before the results and now we are getting the pain.
While there is alot of hysteria - I think its overdone - Dissapointed with the numbers but Alot going for OBD - Lesson learned but its well worth 20p a share .. Will hold back adding more, but on balance with a calm head its worth adding to at these levels
A positive to take from todays update is that the PSE tests averaged over 2 day in Dec - so about 50 tests .. with 85% being insured users .. whilst its not more than 20-30k a month revenue - it does demonstrate how easily PSE can penetrate compared to Cirt - that's just off a generic code and very new .. so after a couple of months it's doing almost the same amount of test as Cift ( all be at 1/3 of the cost ) however that's off a very low base and would not take much at all to get in the high 100's a month
I think they have made its clear they are in the process of building the files /evidence needed to get the big insurers and hospital groups onboard - Im fine with the route and processess being put in place - they do seem to be going about it in the right way .. just need to get those numbers up .. There alot that could happen on the positive side over the next few month -evolving story, TBD
All the questions I posted during the live Q+A Zoom were answered (not quite to my satisfaction) - but answered
Dug Sorry but its wasnt hard to read, you just saw what you wanted to see.
However, All in all a dissapointing update, but with plenty oging on - TBF DIBs on the progress side (time to get the tests to market , Lab, BUPA, Codes etc) OBD have been very impressive , sometimes you sit for years waiting for trhese to come to fuition..I think the Dossier of real life results was alway stated as the plan, and good to see that moving along.. but i do concour with the XIRT numbers - its tempered my enthuiasm compared to jon's .D
Oh Ok - Its a ponder for me - I'm not adding at the monmrt but there too much short - mid term potential to risk not having this in my holdings .. no lack of positivity from Jon and I think we all see the "vision" very interesting , but dissapointed with the Cirt numbers myself. Lots to look forwards too
190?
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Agree fully - Cash of £5.2 million as of 30Sept and no mention of current cash levels is a big concern given the lack of sales growth and increasing headcount new and labs to run .. Dont have to be a genius to now work out current cash levels and they will be closer to £2 million than 3.. OBD needs demonstrate funding for next 12-18 minimum , simply cant keep burning through SH money.. I think that the logic for the partnerships.. however Still and CIRT and PSE to fund for some time yet .. I hope that they agree partnership with upfront cash ,, but dont like to cling on to that as our only hope given the only have a couple of months to complete such a deal... I'm sure vuples etc would do one last fund raise, but paitence must be wearing thin and at what price ?
Dibs - Yes it does irk a bit... Company is doing so much well, but 97 test in June (announced just before a placing) .. Lets see, I fully understand that there many challeges and they have acheved alot, but if the buisness whats to keeps launch products before the first is making meaningful revenue then Shareholder wont get to see that value ,, its a business at the end of the day and £16 million rasied in the last 14 months will be now gone by April latest IMO .. So if those numbers are correct its not good enough. However Im looking forward to the presentation, I did free up a pile of cash to add , was holding back for the results irrespective of SP, but wont be throw anymore in unless we have clarifty on the finacial position going forwards.
Its not a wild guess if you can read :)
Dug - Also to note - OBD have always presented sales amounts as "since launch"
Dug -Total 432 as of end of June23 So 516 looks too low.. but it we take it at face value 254 test since year end - about 85 a month . Lets see whats in the presentation .. I think the use of the words "lower" and "continued post year end" make the 220 a month highly unlikely IMO .. lets hope so
Agree - its all part of the ride - its important to look forwards - I will be putting some questions together for the webinar..As im sure many on here will
Hi Dug
-Yes, was loooking for a smaller growth to about 160-200 test permonth - anywhere is that reigon and would be happy .. main reason would be that it demostrated the strategy is working, even though funding would be required, no problem .. we reached 97 test in June23 - to me the statent clearly says the says since june on a monthly basis have been lowever per month - so no groth , in fact a drop.... Not sure this was "as expected" as statement in the last webinar.. Hence my primary thought are on the short to mid term funding.. Maybe Partners.. But its a bit squeaky if the above is correct ..Im sure OBDprojects will be do well .. balance sheet needs something urgent if my interpretation numbers from the results are correct
Dug - OK , I get that - but the clarifying statement is at odds - at they dont say 780 test since year end - they say total to date,.
There is no way this statemnt can equal 200 + test a month ?
"as we expected and saw LOWER orders through the summer months. Post-year end, in the final quarter of the calendar year, ORDERS PER DAY HAVE REMAINED AT SIMILAR LEVELS TO THE SUMMER.
Was all about Cirt for me - that will pay the bills, but with circa 50-60 tests per month the burn is too high .. Partners or funding needed
Island - not spreading fear - been here a while. its quite clear in that statement