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Looks like the MM's are happy to keep the ask at my cash after tax estimation, of 43p, for now.

Any mask companies out there going for cheap? Seemed to do alright on the last one

Yes but again I think BRH is different because its whole purpose is to be an investment vehicle in which TB owns 25%, if BRH makes money TB makes money, if IQAI makes money TB does not make money until he sells his shares, as IQAI will not give out a dividend

If TB wants cash out of BRH issue a dividend, especially at this price - if he wants to make extra money out of any of his other companies he has to sell shares

May be the case Darl but I just dont see why they would sell shares in BRH
For example, £15m cash with 36m shares in issue values cash at 43p
They could just announced a dividend if they needed money, they would make more than selling at 42p

I just think the market is weary of investing here even though the cash outweighs the market cap and we have other assets that could be worth millions in due course

Once BRH release their intentions/plans I think sentiment will return

Just another green box now
Personally I hope they are not buying IQAI, maybe a few weeks back but looks a tad hot
Ideally RMS do a placing and they buy back in sub 2p :D
Sorry, someone had to say it - it won't happen just joking...

HahaHehe would that be a good thing?
I have no knowledge of IQAI, it seems to have performed well this year
Any future hype/potential we should be excited about?
Judging by todays rise of 18% I would agree, looks like there is a big buyer there so probably BRH

Agree Spike, this market loves hype
RMS was the fantasy pie in the sky
Now they've sold RMS (for an exceptional price) traders are moving out, but they will return, and in greater numbers

Once we get further news on the Paraytec test, and TB invests the money elsewhere (which I am sure will be high growth exciting markets) I can see 60p+ here, cash should provide a floor now so IMO a less risky hold than other stocks pursuing revenue from CV19

A dividend would also be a very welcome bonus!

Spike the BRH share price is nonsensical

£17m+ cash from the sales of RMS
Counter: Corp Tax 19% on profits (may be able to offset some losses)
Worst case that goes down to £14m but I am sure they can offset last years losses so lets say £15m
Market cap at 45p £16m - which POST TAX attributes £1m to Paraytec, which we own 100%
Then you get PhaseFocus, Kirkstall and Sentinel Medical for free

If Paraytec and Carl Smythe as CEO (just in theory) listed on AIM right now what MCAP do you think it would be trading at? £5m, £10m?

There is absolutely no reason we should be trading sub 60p IMO! Which would be a market cap or around £21m
This im my near term target, unless we all get a dividend which would be nice then we can focus on whatever new investments TB has lined up, seems to have a knack for it atm

Im almost certain there will be a dividend, will also keep investors on board long term because if TB can pull this off again (Sell Paraytec for example or a part of Paraytec for shares in a listed company) then in future when that company sells investors can look forward to another dividend

The whole point in an investment company is to either get access to private markets and/or receive dividends

TB holds over 20%, he now has £15m+ in cash, even if it was a £5m dividend he would make a million overnight

Chances of a dividend here you think?
Currently zero value attributed to the CV19 test, absolutely zero!
They need £3m to fund it (I believe they said) so cash minus that by the end of the day could be ~£14m?
Could do a special dividend of say 20p and still have ~£8m left for investments

Imagine if they listed Paraytec, wouldn't happen but I am sure it would IPO for more than £0 - possibly £5-10m?

I know this company has a past of volatility and crazy deals, but it's cold hard cash in the bank at the end of the day

Why is this not rising as fast as the others?
Any red flags coming up?
Cash above market cap, Liquidity twice MCAP
Vaccine news obviously helping but still miles from the highs, AZK vaccine news to come could push these to higher higher and higher floors

Any idea how much the drug would sell for providing it passed P3?

"If I get an antibody test, and it proves I have antibodies, could I actually also be asymptomatically infected ?"

The issue is that you can take an antibody test, which comes back negative, and still be infected

Hence why the Mologic test will be in serious demand

Antibody #ABC test for Vaccines (to check they work, and check you dont need another dose in 3 months, 6 months etc.)
- Also for research purposes and to see which vaccine works best (or is it still effective)
- Any mutated strains will also need to take a further antibody test and the vaccine is modified (to check that works)
- Also for research to calculate what % of the population currently has some level of resistance

Mologic Antigen
- Do you have the virus right now
- 24-48 HR passports
- Easy to use and extremely fast

2m a week certainly won't be enough, hopefully they can get to 2.5m a week or more by April 2021 and surprise us

Expect astronomical UK demand through 2021 then overseas demand in 2022+

· Overall loss £2.88m (2019: £1.83m)
· Adjusted EBITDA* loss £1.56m (2019: £1.25m
· Shareholders' funds £4.97m (2019: £7.63m)

· Cash of £1.33m at 1 October 2020, following receipt of initial tranche of net proceeds from fundraising, sufficient cash for organic operations, normal working capital profile
Had over £4m in cash a couple of years ago, when the share price was over 3p

- Balance sheet strengthened following £1.25m equity fundraising completed 29 September 2020 and remains debt free
Wow remains debt free, not hard when you can raise £5.3m+ over the last two years from Investors, current market cap £4.5m

Triarii is getting positive customer uptake in the UK and US, and it is now part of the SolarWinds global TAP program with its access to over 22,000 Managed Service Providers ("MSPs") globally
- How much revenue anc clients have they generated from this game changing partnership announced two years ago that was going to be absolutely transformational for the company?

Interesting, as I thought this was a very hot sector at the moment

Cyber trading performance for the six months to 30 September 2020

The move to remote working opens up inevitable cyber security risks for organisations and we have positioned our offerings to address this growing market opportunity, and whilst orders and revenues were lower at the start of the year than those pre COVID-19 as clients were in disaster recovery mode, orders have since recovered strongly from July onwards and this began to flow through to revenues and margins shortly in September. The Cyber security market is expected to grow strongly with the shift to a more digital economy and we expect this to benefit Falanx.

Note:
The move to remote working opens up inevitable cyber security risks for organisations and we have positioned our offerings to address this growing market opportunity

Result:-
In the six months to 30 September 2020 the division recorded revenues of circa £1.4m (2019: £1.7m)

As with all stocks on AIM, you really never know, so may be a trade in it, but at £4.5m it still appears massively overvalued, remember revenue is vanity profit is sanity

Post trading does look a bit better but will need much more to offset the losses
Revenues in the cyber division were impacted by reduced professional services demand in the Cyber division in the first few months with the onset of COVID-19, but since the start of August monthly orders for these have increased significantly and are now running at circa £0.2m per month compared to £0.1m per month in the first quarter during the peak of COVID-19. The sales pipeline has strengthened with the launch in August 2020 of the cyber security monitoring platform Triarii and it is winning important sales orders. The current order run rate of orders for these services is very similar to that in the second half of the previous financial year to 31 March 2020 and they are broadly back to the pre COVID-19 run rate.

Really impressed with today's #ODX Omega Diagnostics Presentation

Long term recurring revenue, post covid, can come from the CD4 HIV Test, which sells for ~$4 and operates at a 70% profit margin, however plans are in place to get all in costs down to around 50p per test, which should make then more competive
They are targetting 4-6m tests per annum, in the next 3-5 years, with 2m tests per annum starting in 2021
Quick Calculations at maximum 6m PCM capacity would be 24m USD per annum and ~$16.8m profit
Even a third of this next year would be most welcome, with 8m USD and ~$5.6m profit, per annum
They believe this is the only instrument free POCT available, worldwide

Antibody Testing
- 3 Tests, although at this stage it is probably wise to write off the ELISA test as nothing more than a very small revenue generator
- 2 CE marked tests, Mologic Antibody VITISECT CV19 test, which has been put forward for approvals in a number of countries, CE marked in Sep 2020
- Working with the FDA on the Mologic Antibody Test, likely to be some very good demand early next year for the test
- Setting up distribution networks where the prevalence of CV19 is high

UKRTC Antibody Test
- NOT EXCLUSIVE to the UK GOVT and can be sold to third parties outside of UK GOVT and outside of the UK, likely to be at much higher margins/revenue
- Lots of countries taking this test very seriously because the test is backed by the UK GOVT and also CE Marked

Antibody testing likely to be in massive demand when vaccines are rolled out and for potentially years to come

Antigen Testing

Mologic LFT test

- Been taking part in a number of evaluations, not just in LTSM but in some of the drive throughs etc and got the prototypes out there, the data is very encouraging and they are getting very close to completing the development phase
- When we should expect that transfer to start is the end of November is very realistic for ODX
*** confirm that what we are producing is of the same performance of Mologic and then build up the technical file and CE mark the test – could be a nice Christmas present and still hold the hope that it could be complete by Christmas *** if not would be very early into the new year and be able to start commercialising it
- full transfer complete by Christmas is the goal and why we are looking to drive the capacity that will generate significant demand from antigen testing

Other things to note:-
PROFIT SHARING - when the RTC test is sold to third parties, there will be additional profit and that itself, will be linked to the ultimate selling price per test for the third party (AKA more than 0.75p)

Capacity:-
500K per week by the end of December 2021
2m Per week by April 2021

Possible may be able to expand to 2.5m per week (construction underway at existing facility)

In summary:-
An extremely attractive diagnostics company at crucial stage in its development/growth, and I predict in 12 months it will be trading bet

Any 'official' figures here on how much revenue per test?
Does BHA have exclusivity on the Antigen test or just the Antibody?

So if I am right, #CTEA will provide the passports, and software for UK GOVT across the BHA/Healgen tests?

Hi Jolly

Operational loss has been between £500K-£900K for the last few years (see RNS for actual details) however, the main focus of my investment (since 2017!) has been surrounding the SaaS, and how they can go about bringing that monthly/yearly figure away from 2m and towards 3m (£3m SaaS per annum alone would make them bottom line profitable, by a significant amount)

So, depending on what cost cutting measures have been put in place recently, the hardware sales are clearly impacted, but as per the last RNS the SaaS has somewhat grown (to ~£170K per month) - the hardware comes in at around 30-40% margin, but the SaaS is usually as high as 88% margin, therefore for every 1m SaaS we bring in, we need ~3m in hardware sales, if we are talking about the bottom line

They just signed a £1.275m credit facility, so they should be covered, the last placing here was April 2019, that used to be a regular occurance and an easy outlet for the trolls, but simply put the company is much better managed now and IMO it is largely due to the addition of Igor the CFO who has done a great job

So in summary, I am unsure on cash burn BUT the fact they are still bringing in the £170K PCM SaaS, if they have cut costs drastically, then cash burn could potentially be similar or less than years previous

Looking forward, the partnership with Zero/Polaris and CropX (who onboarded Cropmetrics, Reinke and a few other companies recently) will continue to add to the SaaS (for ease I add $36 per annum SaaS per unit, could be more less but cant go wrong with that) so another 10K units installed from Cropx and 10K motorycles (or snow mobiles) and the SaaS could be nearer that figure of £2.7-2.8m, providing they dont lose any customers along the way - anything near £3m SaaS and the company will be valued north of £10m MCAP IMHO

It's not BRH but its confirmation that a test can be done using fluorescent nanospheres, the technology clearly works, IMO I thought it may have certain advantages such as
- Detect infectiousness or viral loads
- Increase sensitivity by simply testing for longer, what is the Se at 30 seconds vs 1 minute or 2 minutes, after all it is just light detection, not like PCR where you have to amplify the RNA to a level where you can determine if positive or negative (and then tell someone who has had it for 3 weeks and is no longer infectious or 'shedding viral particles' to isolate necessarily for 2 weeks)
- Would be super quick, as you just put the sample under the spectrometer and within 30-40 seconds it is either positive or negative, depends how many samples you could run, likely to be around 2000 on one machine per day IMO (double that of a BAMS test and much more than PCR)

Very promising

The POC isn't really the part I am concerned about, IMO and just IMO (not investment advice and pure speculation) the POC surely has a high COS

1. They are still carrying out the trails and the detection system is a success, it is now being modified for greater sensitivity, this was shown on twitter where you could see a positive/negative in less than 100 seconds

As per quote below:-

Proof of Concept has been achieved for the Optical Detection System and development work continues to optimise detection sensitivity. Minor logistical issues arising from increased regional COVID-19 restrictions has meant that final proof of concept trials continue for the Capture & Signal Generation Modules and the results are now anticipated on 16 October 2020

2. Capture & Signal Generation Modules - We also seen on twitter that the virus was captured and a signal was generated determining the positive/negative result, so I presume they are carrying out more tests to get a greater sample to release to the market on Friday, they will be surely looking at sensitivity as per the RNS but also speed, and at what levels of viral load - also what is the sample, can this also be used in Saliva? There is a lot to test

3. The big challenge will be when they get into the C3 Labs and begin testing on live virus samples, which should come straight after the POC phase - remember POC is not final clinical validation, IMO to fail at POC stage would be a huge disappointment, and bit like a drug failing at P1

This is not advice, just speculation and you can lose a big amount of cash investing here if there are further delays or the POC is a failure/requires big modification, but ultimately I am taking the chance because it appears to work, it appears to have some advantages over PCR especially in the speed department, flow cytometry etc. (although this isn't just that) works with other viruses so taking all that into account, my bet is the POC will be a success - what that does for the SP I am unsure, depends how much of a success it is I suppose

Been reading up today on fluorescent detection (apologies if that is spelt wrong)

Seems to have a lot of promise, certainly has the speed

Looks a lot faster than PCR, key will be Se/Sp and cost - although looks like cost will be much less than PCR as well

Lots of promise and ways you can modify it/change it to achieve desired outcome

very exciting times

SP increase
- POC successful, moving onto clinical validation
- The POC detected the mimic protein with extremely high sensitivity and specificity
- The POC can potentially be used to determine the level of infectiousness in a patient
- The POC is was successful at detecting CV19 in Saliva
- We are actively seeking partners/in discussions with partners to develop the POC further with intention on bringing a product to market in Q1 2021

SP Decrease
- The POC requires further work/analysis before moving onto clinical validation