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Thanks RegUK,
Looks like i need to do some reading
The problem with ODX is that they issue news with alot of ambiguity
We have SIGNIFICANT cash but we also looking to raise. WE have FULLY CE marked but certificates are conditional
All I want as a LTH of shares in ODX is the new CEO have a investors open call and address these concerns, outline his direction of the business and importantly what he is going to do differently from Collin
but in saying that, be careful what you wish for, every time these guys have these investors meet and greet, the share drops
RegUK,
I'm completely ignorant on the CE process, if their is a reputable website to direct me to that explains it all in a simple manner preferably, that would be greatly appreciated
Atleast now the Covid element is not worth £0 which the current share price would suggested
Cmo guys, let's have a positive day
Good news today, hope the momentum continues for everyone today.
We can cater for the European Market and covid cases unfortunately haven't died out so covid is still around.
We need another piece of news also about actual sales now, that will really turn this share around.
Still worry about ODX wording if I am honest, fully CE marked but require further info
All input welcomed, if you see issue with our approach please highlight it, please also offer suggestion for better way to approach it
Thank you guys, Excellent progress, amazing response
Absolutely agree with you,
It will all be presented to the FCA and evidence Collected, I feel that it was all orchestrated but we need real evidence and the best way to put our mind to rest is to report it with strong support from our group and make the FCA do they're Job. They can't ignore 70+ shareholders and growing asking for action
Like i said, we either let them carry on and do as they please or hold them to account.
Share the link and asked people who have lost money or want the business to change to join the group
https://docs.google.com/forms/d/e/1FAIpQLSclDItIec93xvhd7K7jcslPrUZX9OsivT3323Jr5RrSIOXilQ/viewform
Great response from Group, Thank you for those who have filled in the form.
Changes have been made by the the Group Lead, Just finished talking to him now. Amended the form to be open formatted so you can see all the question being asked and GDPR policy being attached also being added.
All questions asked (Personal Questions) are required by the company to validate holding. GDPR policy will address privacy concern.
The form will also be used to contact the FCA and request investigation into Directors dealings, This is important to bring back investor confidence.
Group Lead is AIMissionary on twitter and is currently also the lead on anther Action Group for AMIGO, meeting the Board so has done this before.
You have a choice, let the directors carry on without accountability or forced them into dialogue and make a change.
Join the group: https://docs.google.com/forms/d/e/1FAIpQLSclDItIec93xvhd7K7jcslPrUZX9OsivT3323Jr5RrSIOXilQ/viewform
TWatcher, Alot of finding faults in approach but your not offering any solutions
whats your agenda here?
if your happy to be a keyboard warrior and sit on the side lines then carry on
happy to hear constructive criticism however absent of trying to offer any solutions you are provide no real value.
The action group is the best option here for you to have your say and make a real difference, it has been done before and makes a real difference
input from every is helpful but make an effort to offer solutions
This was my concern,
if they do a placing now, dilute all shareholders and then they have control to do what they want, which means basically nothing and it becomes a lifestyle AIM company
if we take action now, stop in their tracks and then implement real change
my request is
1) CEO removed, vote of no confidence. We need new blood in the business not same culture
2) stop rewarding failure, share options have price targets
3) independent investigation into last year of trading by directors, i suspect foul play here but without evidence it's just speculation/assumption and yes frustration
I think if we rally behind these three points, it will bring back investor confidence.
happy to hear thoughts
Twatcher i think your points are fair regarding the form, i will contact him to make changes. GDPR rules are important.
If we don't do nothing and just post messages on social media then the board will continue to act as if they are untouchable. By grouping together and putting the pressure on they will be force to align to the interest of the PIs.
on a serious note, what is there for anyone to lose here, they have decimated the share price here. most are under water and all is asked of people here is to put name to paper.
The facts are that the new CEO is a continuation of or even worse than Collin. Placing are to only help their own and in the meantime a lot of people have lost their hard earn money.
"According to section 310(b) of the Act, for shareholders to convene an EGM, the shareholders must hold at least 10% of the issued share capital of a company or a lower percentage as specified in the constitution of the company or if the company has no share capital, by at least 5% in the number of the shareholders."
I'm not concern if they are taking legal advice or not, as point out by TWatcher, their legal team is as incompetent as the management team
Time for talk is over and it is now time for action.
If you have shares in this company and want to hold those to account for the despicable running of the business, add yourself to the list and lets make a change. WE are shareholders and we can hold them to account. talking on this BB or Twitter is not going to change anything.
We have already passed the 5% required and the company is asking for evidence of shareholdings. 5% or above we can ask them questions,
30% and above we can make sure heads roll so everyone needs to set aside their differences, and sign up to do away with these lifestyle directors.
#ODX Please fill in the form below. We need to bring in more members to the action group urgently and call an EGM to demand answers.
https://forms.gle/3nMQPeCG8WLHpeqs6
We plan to use the answers on the form to apply pressure to the Board to protect shareholder value.
https://twitter.com/AIMissionary/status/1488195134831345666?s=20&t=0uTCvdbIt2XxX-d0pqXx2Q
Already down 20%
Can easily see this now going to 5p and below.
Basically fu#ked us over hard.
So basically some share holders had inside information about a fundraise, had privileged information not available to the market and could have acted on it. ODX basically admits most of it in RNS (except the bit about acting o it, thats speculative)
"in discussions with certain investors and shareholders regarding a potential equity fundraising"
Any significant holders want to join me to force a GM, we need to get ride of the top ppl and take controls.
They need to understand this bull is not acceptable.
Has anyone got that Cowards email address? JAG the cowardly CEO who has yet to show his face since talking over.
Hiding his contact details behind walbrook
What a pathetic excuse for a RNS,
All they did was add fuel to the fire.
We need to organise and demand real answers.
Why are you raising?? What is the need??
What happened to the overdraft facility and extension?
Thanks OKE,
I dont agree that we only got £2m from bank, I believe this an existing arrangement.
What the CFO is talking about is "Export Guarantee" which is to faciliate financing an export order
Still loads of questions needs to be answered
But update required from company
Why are they seeking uplift in financing? Why specifically "export Guarantee"?
Those in finance and dealt with export finance will know why I am asking this and what it means, you wont ask for £8m export finance unless you have a big order to fill and have sufficient evidence to.suppoort finance requirement?
For a balance view
Has the rejected their export finance request? Why (obvious answer there agreement isn't iron tight), is this the reason for placing rumours????
Anyone screaming about paying back £2.5m not worth paying attention too,
Hope that helps
I shared a video from CFO update from the 25th November investors meeting as some cretin on twitter miss quoting me, or atleast misrepresented the facts.
Current underutilised overdraft limit is £2 million (statement of fact as per update)
In the video CFO states working with Bank for overdraft facility uplift to £8million.
So question is now why do a placing when we can raise funds via debt to equity?????
More serious question Is if placing did happen next week, why did the bank reject uplift which will really concern me as current cash is roughly £4million
Any views and thoughts welcome. Watch the video i shared on twitter yourself or visit investormeetcompany.com and view it 55mins into presentation