George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
What I don’t understand is why rise £5 million selling shares at 5p then sell the company for £1 million?
And/or.
why rise £1m by selling Alva and then dilute the shares to that extent
We will be heading to 400M shares post funding, talk about value destruction.
Is it 400m or 323m? Regardless either figure will have massive impact on potential returns.
Regardless of all this I'm pretty xxxxxxx off.
What's happening with CTDA ?
what's happening with DAM contract?
What's happening with govt equipment? What discussions have taken place?
What's happening with 2.5m?
What's happening with FDA?
Why hasn't the new CEO introduced themselves and outlined their vision?
Why 5p?
These are just question off the top of my head, surely we deserve an update on some of these matters.
My inexperience showing here!
Re the £5m
Is this likely to be one investor or multiple investors?
What are the chances of it being an institutional investor?
Just curious if it could be an investor that could bring some added value beyond the £5m.
Thoughts welcome!
Can anyone else confirm if the disputed 2.5m is included in cash balance or has it been ringfenced?
Is it possible the cash burn is attributable to the 2.5m dhsc being ringfenced from available funds? I have no idea but it would be useful to know how the 2.5m is being represented in accounts
Okehurst nice to see some optimism! factor in cd4 gaining traction and uplift in omegas "own kit" outside the £17m govt kit.
It would be interesting to have a value of assets - physical and IP etc.
There are some reasons to be optimistic.
OSAG....
wouldnt the acronym Omega SHareholders Action Group achieve a higher profile :)
https://www.bbc.co.uk/news/live/uk-59457268
10:27 comment on ability for LFTs to pick up omicron
"No doubt that I was certainly amongst those that believed no business would simply pay for staff to sit around but it would certainly appear that we did. As a positive the contract allowed us to build capacity and HMG paid for us to do it - should we have managed it better, certainly but overall increasing capacity on someone else’s dime is a major positive."
It's definitely a positive.
Let's not forget that £2m from govt is sat on balance sheet. It would be interesting to see what is happening with that.
I presume it would have been transferred to p+l as and when orders were received.( Didn't they have to offset pre payment against intitial orders?)
So what accounting treatment are omega using or proposing to use for that item now that the contract has expired? another question for walbroolk?
One further positive I failed to mention was the CFO and their history of companies he worked at increasing their share prices prior to company takeovers. He Did he say he achieved this in the last two/three companies he worked at. He seems a good appointment.
The capacity took me by surprise I knew it was circa 2m but did not expect to see it so heavily weighted in govt favour. So that should still be 666k capacity per week (not 330k described below)
There was scope In The govt contract to buy machinery at written down value or to use it with written permission, not sure how that is affected by the contract expiring, anyone have any idea?
Colin did talk about discussions with govt re using machinery outside govt orders. Again on reflection that is something that should have been agreed early in the process. Someone should ask Colin if we are going to charge govt rent for keeping/maintaining equipment! I say that in jest but surely there has to be some agreement/protocol in place re machinery now that the contract has expired? Even in simple terms Whose responsible for upkeep, storage security.
That colin mentioned discussions about using machinery for non govt use does give me a crumb of comfort.
I'm also pleased to see cd4 gaining traction. That's undeniably happening now and colin presented numbers to back this up.
With the cd4 revenue and the first dam order theres circa £1.5m of orders over and above the norm which should translate into a decent revenue increase in h2 and i'd hope to see further orders on those two fronts before year end.
All in all a crappy two days but I don't believe all is lost.
To give Colin some credit he didn't go over board on cap ex on own machinery. CD4 appears to be bearing fruit, there's positive signs on food intolerance. And there's hopefully potential for DAM to rescue us from this slump if approvals are received in the near future. It's a hold from me but still incredibly disappointed.
"its not a rumour or a secret - ODX has submitted with FDA for EUA for professional use not self use. Its in the RNS,"
That's also my understanding and should be everyone else who read the RNS.
What is of interest is the mologic article on their website from April (appreciate things could have moved on from then) the article mentions self test. Does anyone know if being part of the Radx initiative has any benefits on authorisation front?
https://mologic.co.uk/mologics-covid-19-rapid-antigen-self-test-selected-by-nih-for-radx-initiative-funding/
Good post traderB.
I'd hope as well as private testing there could still be NHS led demand.
Given the advent of antiviral treatment early diagnosis in point of care setting (GP surgeries, pharmacies etc) could be required.
The cost of antivirals (molnupiravir for instance) appears to be significant, so targeted testing using LFTS prior to prescribing could be a way of managing costs and identifying those positive as soon as possible.
You'd also want the most accurate LFTS for this purpose. Pure speculation on my part but not beyond the realms of possibility.
"Whats the thoughts on the accounts that are coming out this week ?"
Seems that I missed the announcement that they will be published this week. Are they definitely coming out this week? I appreciate they'll be released but They've been released late November/ early December the last few years.
Does anyone have a link to the list? Thanks
Must admit I didn't know too much about DAM Health this morning so have been scouring the internet for articles!
This article is pretty interesting https://www.thestadiumbusiness.com/2021/09/23/edinburgh-rugbys-stadium-sponsor-to-offer-healthcare-benefits/
They've entered Into a five year sponsorship deal worth "a “significant seven-figure” sum".
This seems promising for the longevity of the business. The article also states the following -
"The company continues to expand rapidly across the UK with over 45 clinics, plus many more in Europe and further afield, and will soon announce how it will diversify as a healthcare firm."
Here's hoping the diversifying involves food detective in the near future
Today's RNS "there is the possibility to broaden the partnership to include Omega's VISITECT® antigen self-test LFT (once approved) and for DAM Health to sell Omega's Food Detective product throughout its network."
https://www.google.com/amp/s/www.dailymail.co.uk/news/article-10098419/amp/Medical-firm-slash-PCR-test-prices-ahead-half-term-holiday-rush.html
This article caught my eye - appreciate it mentions PCRs(and it's the daily mail :) ) but we know the trend for replacing PCR with LFTS
Bottom of article - "Meanwhile, DAM Health is expanding its work with businesses across the UK by providing PCR 'Fit To Work' tests as employees start to return to offices.
"The health company is working with some of the biggest businesses in the country to ensure workplaces are safe...."
" The health company is working with some of the biggest businesses".
This opens up the possibility of a large ready made customer base for omegas LFTS if / when govt stop giving LFTs away for free.
Pressed post too soon!
Take a look at their booking tool you can already see dates/times booked for test
47 locations available in UK at the moment. Also clinics opening in other countries. If they get upto 100 clinics they would only need to sell 66 LFTs per clinic per day to reach 200k per month. Looks promising to me!
People conveniently failing to mention that LFTs have recently replaced PCR and that DAM are expanding their clinics across other countries. Obviously don't know the details but DAM appear to have secured themselves a secure steady supply of LFTs. Take a look a Thier booking tool times and number disappearing