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So massive push this weekend to push the placing Rumour. Shareprofit stating £5m at 5p.

Well my take on this is placing doesn't make sense. But what concerns me is that in the last call Colin stated that FDA approval will require funding and may be a barrier.

This in my opinion can give substance to the placing rumour

In saying that if they have overdraft facility available of additional £4m, why not tap into that????

Let's see

Next week will either destroy the share or if ODX actually pull their finger out and provide a meaningful update to its shareholders.

After that article they can stay silent

I think that is the most important thing, holder longer temr, ODX isn't a poor company, yes it was hyped to £1, 100m MCAP was never realistic and £2 target was dependant on the GOV contract

realistic valuation in my opinion is £50m on its core business, and i think it will achieve that next year

Its very sad Story that we are here now, I pointed out gap in the charts few post back and as i said i would i have now averaged down. new average is now 33p, still massively away from what the current share price is.

Looking at the charts again - Technically RSI below 30 and Stochastic near 4, its a due a bounce, zooming out it looks like a reverse cup and handle formation completed with the GAP being filled now. the bounce up this morning from the gap fill is good indicator that outs were waiting for this price target also. Caveat to that is that it wasn't sharp enough bounce up to warrant a turnaround hence there is still downward pressure.

On the daily their is still a smaller gap that hasn't been filled at around 7.8p (3rd April 2020, yes you have to look that far back)

In terms of book value, yes MCAP is below Net Assets but bare in mind that most of their value is in intangible and looking through their RNS they have been booking amortisation over the year, I'm sceptical here exactly what makes up the full intangible number.

So its safe to say that Covid element of this company has been wiped out, not worth consideration (bonus if anything comes of it). any value comes from their core business prior to Covid consideration. on that front £11m in sales is a good business with valuation typically 3 times its revenue figure and 6 times it profit figure. it really hard to go wrong at this price now except those like me who are bag holding but confident hear that at least with can make most our money back.

What we need now
1) clear plan from new CEO
2) buys from directors - on this point, it is in the directors interest to keep the price down, i don't know when their options will materialise but i think looking at previous RNS i believe it is in Feb. So think of it like this, why would they buy if their silence keeps the price dropping down, they get options which they will exercise, then make statement to push the price up.
A buy from directors will show real value to share holders, if they do the above then it shows they really don't care about shareholders but only in it for themselves. if latter is true then gap fill at around 8p is very likely

Hope that helps

Thank you,

I will look through what his position after this, i am sure he was involved in the placing but this saying this, it is very important information, this is why inhouse promotion to CEO is not seen as a good thing. a New CEO would be much better

TWatcher

"He exercised and immediate sold 210,000 options, part of the 1.6M that were exercised and sold that day. This was when the rest of us were expecting the company to gear up for 2M tests a week."

regarding this point, where can i find this information, looking at LSE directors dealings i can't see the sell, Only the exercise

Raising funds is part of any business, I raised funds three times last year but I bought 3 properties. There was a need which bought greater returns for myself and my business partners.

The point is, the business raises funds when they tried to secure the government order, they got screwed over, they did not raise funds for no reason. In the short term we are making sales now, losses mostly related to increasing capacity for government order their was a defined reason.

We could lose and have to pay back government £2.5m. I think risk is minimal of that but yes there is that risk.

Risk is part of investing, you have to manage it. Most ppl are traders and ot investors hence focus on short term and not the bigger picture. Nothing wrong with trading but expect to get caught with your pants down every so often.

Odx isn't a poor business, it had a poor leader. Now that he has gone, I have confidence in CFO and let's see what JAG brings to the table.

Manage your risks, understand what they are

Absolutely brilliant news today that Colin has been shown the door. It's exactly what most investors have been asking for and I'm glad the business listened.

Terrible CEO.

No placing as I advised before, trolls also got exposed.

Should see back In to 20s,

Covid LFT price completely stripped out at this level which is a good thing. Look at monthly chart and you will see they have been as high as 30p without covid opportunity priced in so looking for recovery in sp now given the development of their other products and core business.

Any covid news is now a bonus so a non issue as a recovery play. £50m mkcap business by 2023 which will put it as minimum 27pish

its very difficult to tell, although i have to agree with you

if you put a forward order in at lower price then what has been quoted and it gets filled then it shows up as a sell so hence makes it difficult

at this level now it strips away any Covid LFT news, looking at the monthly chart we are at 2017 level of share price,

ODX has now moved one from then, with increase in revenue and finalising their other product.

risk of downside getting smaller

These comments about placing are a complete nonsense, they already confirmed they have almost 2 years of run way

upside milestones,
1) CE approval - in the pipeline
2) DAM increase order (speculative)

RISK
1) government chase hard for their £2.5m, (low risk) but only then will i worry about placing

Also take a step back, their loss was due to ramping up production cost related to government order, if that has not materialise then their revenue should either increase or remain stable but production cost will decrease.

placing makes absolutely no sense.

your absolutely right, the stock becomes a traders dream and completely destroys momentum for any significant move up. its vicious cycle, only thing to break that is some substantial news of private sale agreement but then we have the other disappointing point that we have to accept as holders of this share, we can't trust CK to deliver anything substantial. Get ride of CK and put the CFO in his place, he has a better record and defo comes across as a person who knows what he is doing.

So sad to be in this position right now, ODX has become a share that just failed us all. Yes Government was to blame but also Management (CEO). CK has to go, could not sell a market leading gold standard test in an pandemic, thats just a a crazy statement to make.

We are now at a share price which is pretty much before the pandemic rise, I am a holder with average of 60p, i very much doubt i will see that price, best i can hope for to have an opportunity to average down and then minimise my losses.

i have a target of 12-13p to average down, hate to say it but that seems realistic target now.

Sorry to every holder, Board selling was a red flag, i knew it was, i just believed the hype

1) Government equipment - confirmation the can use
2) Self test approval in UK and EU

wishful thinking

1) DHSC renews contract, (did not convince that DHSC explicitly say it has expired)
2) DAM Health increase

Flashy500, i'm feeling it

its worse then i expected,

he needs to go

So £8m overdraft (£2m confirmed and £6m? to be agreed)

£4m in bank currently

0.5m cash burn

gives us 24months run way worse case

I did say this in the morning, Colin is the best deramper of ODX, seriously, every time their is a presentation i want to cry

here is the link to the contract being awarded, i had to double check there was no expiry date

So those that are questioning when they knew is valid

Link to the contract award below:

https://www.find-tender.service.gov.uk/Notice/005133-2021?origin=SearchResults&p=1

Flashy500, 100% agree with you, i missed so many opportunities pinning my hopes on this stock

I don't question his honestly if i am to be fair to him, ODX has had a habit of deramping their own share if you followed the story. everytime there was a rise, he would come in and deramp it,

he lacks charisma (Collin), he lacks the drive and real vision, tonights conference will be the same thing again, boring update with a lot about we are in discussion which hasn't materialised into anything

he should really have sacked walbrook PR, what a waste of money,

I made money of this stock few times, buying in at 40p and selling at over £1, i took the eye off the ball this year and went in high at 80p in anticipation of Government contract materialising. that was my mistake, Had to put my big boy pants and pull my figure out, traded it senseless to get ave of 57p. had i followed my original strategy and used my funds to average down here I would be OK now.

i will wait until the environment calms down and then trade this to minimise my position and move on. just leave a small amount in for any really growth

Flashy500, I am in, unfortunately with 30% or my portfolio and ave at 57%,

I had a strategy, and had powder dry for this very scenario, in anticipation of poor results, which in all fairness was a given but i got distracted in my US holdings.

I am in the same boat as everyone, deep loss now which I haven't experience for a very long time.

My view is this:
Red Flags
Loss of UK contract
Very concern about lack of access to US market

Positive news, milestones
UK approval
CE approval in Europe
POTENTIAL DAM HEALTH contract increase

So lets all take a step back and be honest

Collin is a **** poor CEO, we can all agree on that but give him credit where it's due, He was HONEST

HE alluded to many times in his conferences that UK was not really going to happen, he said not where the market is many times,

we all were bedazzled by the £375m gov contract, unfortunately for us this government is the most corrupt government I have ever had the displeasure of living through but that's a conversation for another day.

Take note, he also mention many times US is where the money is, now saying feasibility study is basically a barrier. Take note of what he is saying, he literally put it in black and white. our sole hope is UK and EUROPE approvals now to push back to 80p

let me be clear, I know it sounds derampy because it is. 30% of my portfolio is in this stock at average of 57p, so understand that i want this to succeed as everyone of you however understand that now this is a very overvalued company, with poor leadership and very much hit and miss success rate.

I and so should many of you, need to accept that WE are now bag holders until we minimise or losses, or accept loss and move onto something else and make it back there.