Member Info for mburns70

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When the CEO buys half a million pounds of shares at £8 + it's done to inspire confidence in the COMPANY but unknown to the investors it was a set up to ensure his 10 million - he was getting out of there ( didn't share those plans) so please resist from calling investors greedy, Mullis created a smoke screen to convince investors they were buying into a company invested in the future - but we didn't realize it was just Graham's future, he KNEW he had to spike and what better way than make investors believe that he was committed to the company.

It's not a hatchet job it's only just scratching the surface about what's happened here. Mullis knew exactly what to do to get his 10 million, he ramped this share urgently to ensure it reached the price he needed to get his money - mid cap company ? Mullis had no such plan, his plan was to spike take the money and run, exactly what he did do. How anyone can defend his actions is beyond me. He has ruined some investors, money they will never get back and yes I am one of them. From the day he " qualified" for his bonus he all but abandoned ship and it was to hell with the private investors. How can anyone not see what he did now it's as clear as day - I truly hope he pays for what he has done and the speed he put his plan into operation is shocking. Mullis will undoubtedly laugh all the way to the bank but I have a feeling his greed at the expense of others will come for him, infact I know it will. Graham Mullis - you will not be forgotten.

Well who created the bad publicity ? Does it look good a CEO and the CFO colluding to spike a share price and do a grab and run with millions ? That kind of bad publicity ? It's strange how you would buy half a million pounds of shares and in the next breath give a bad RNS stating the future wasn't looking good/uncertain. The ONLY benefit that buy bought was spiking the SP - this all had to be signed off by Dyer who also made a quick couple of million then ran. Why would you invest in a company whose future you were so unsure of ? In my opinion these 2, and one being the holder of the chequebook, planned and executed this raid on shareholders money, of that I am myself in no doubt. Perhaps someone who has skill in forensic accounting and or investigative skills will take a look at this. It certainly needs looking at.

Mullis and Dyer both need investigating. Mullis needed the SP to be at a certain level at a certain time to collect his millions. Mullis most certainly went to great lengths to achieve this with his ramping, when the price dropped after the vaccine news he needed to make a big buy solely to spike the SP. How was that initial bonus achieved ? Mullis didn't have half a million to invest and suddenly he did. Funnily enough the man who signs the cheques also benefited and he's also now gone. There is so much they are not telling us, someone needs to take a closer look at the exchanges between Mullis and Dyer. There is no doubt in my mind what Mullis did here . So are the rest of the Board just going to keep their heads down say nothing until its all gone away ? There IS a financial scandal in Novacyt, a scandal Mullis and Dyer are in - and all the others ?

I completely agree with you he never lifted a finger to help shareholders he even set in place the destruction by his poor outlook, if his bonus had depended on a good one we would have got it. Mullis went along with the ramping and all that rubbish spouted by Tay about how he was going for the big boys how he was going to turn this into a midcap company. Now of course we know he was actually putting into place his own millions and had no intention of doing anything else. His buying of shares helped spike the price aswell, he didn't loose on his investment he gained millions. Even in his leaving statement he thanked everyone except the very people who had put their money and trust in him, the very people who had enabled his lottery win - the shareholders. He obviously can sleep at night but his own selfishness and inadequacy of doing what he was supposed to do has really shone through, I find his actions quite repellent but there you go turns out Mr Mullis did a pump and dump on his own shareholders.

It had occurred to me that perhaps GMs actions were due to incompetence but in reality he had plenty of competent actions regarding his bonus. Unfortunately I was foolish enough to be taken in by the more professional rampers and learnt a very expensive lesson that a good ramper is as damaging as a shorter. I have never trusted GM and I don't think he was liked by many in the market so hopefully his departure can draw a line under his destruction of the shareprice. His bonus should never have been agreed to at least not until he had created something to deserve it. Anyone here at the time will remember his great communication with shareholders, there was praise for their "helpfulness " then almost instantaneously with securing a multi million pound bonus, based on the shareprice At The Time, the communications stopped and worse still he gave the most destructive RNS I have ever read with his negative outlook for the company. So what was the huge bonus for ? The ability to ramp and spike the SP ? There was no incompetence, he saw an opportunity to make a very quick buck and took it, he IMO knew exactly what he was doing and it was all about himself. Who gets a massive bonus BEFORE the job ? He failed every single shareholder as he did worse than nothing he sat back and gave the ammunition to destroy the SP. He knows what he's done, doesn't care in the slightest and was certainly not going to hang around afterwards. Hopefully the new CEO is a man who is capable of thinking about more than his own bank account and has the morals to realise he has some duty of care to his shareholders.

In case anyone missed reading the Exceptional Use Authorisation from MHRA to DHSC, please find it here. You can download the pdf of the letter. Try not to fall off your chair as you read it.

https://www.whatdotheyknow.com/request/exceptional_use_authorisation_by

Brentw1 - I do see your point about all the work that has been going on regarding new staff, new products etc etc,, I actually agree with you on how much has been involved with growing the business and their products and research has so far been flawless. However my opinion on Mullis is aimed at his duty to shareholders (& I'm more than happy to accept not everyone shares that opinion) if he isn't capable of concentrating on the shareprice/markets because eg he hasn't the time or maybe just incapable of it then its his duty to get someone who can. No-one can do everything and clearly this company is not the same company it was 18 months ago. But I genuinely hope for all our sakes that someone soon starts taking responsibility for the shareprice, this isn't a private company and responsibility comes with a public business. As I said just my opinion and if others have differing views then that's fine with me.

There's zero support for the shareholders from the CEO and like you I have suffered a big loss. I still believe this is a good business and with the right management would be in a much better position but unfortunately we've got a CEO I have no trust in. One of his first actions was to secure himself a 3.5 million pound bonus which was based on the shareprice at the time which itself was based on the NHS award, there was no lack of communication then infact they were being praised for their helpfulness. Graham Mullis collected his personal fortune then the dispute arose and shareprice crashed. No helpfulness now, no communications to shareholders and a dismal share price. Should Mullis keep his millions, I personally don't believe he should. Who awards themselves millions before a job is done ? Now it's just a waiting and hoping game but if I'm lucky enough to get my money back I will still have no faith in Mullis, he's shown no regard for his duty to shareholders but showed a great deal of effort and competence in securing his personal millions. Great business lousy management and shareholders have been left to the mercy of the MMs and shorters.

https://www.rte.ie/news/business/2021/0607/1226504-letsgetchecked-funds-unicorn/

Interesting to see how easily recent startup 'Letsgetchecked' achieved $1bn status. We continue to need to be patient a little while longer. It would be good to see our consumer branding grow and hopefully the development of a personal health management app. Company due to update us on their post covid future plans. Should know more soon...

It certainly gives shareholders some confidence that Mullis will realise how important good and reliable communications are, especially when he adds those longed for 3 little words - we look forward - at last ! :)

Hydr - you've made a very sensible decision so far, wish I had sold my half as early as you but it's difficult when it's in free fall to make a quick decision, you know the fundamentals but the reality is the fundamentals aren't being supported. Thankfully Mullis did a complete turn around and got an excellent RNS out. I agree this is still an uphill task and I'll be treating it slowly but surely...........

Ummm..... I haven't changed my mind..??? Not that I'm bothered if someone thinks I have it's when I start to confuse myself I'll worry and it hasn't happened yet. :)

I like your name - Hopeful :) yes the most relaxed day for this share in quite a while, I hope anyone who was seriously concerned can feel some confidence coming back, we've still got those old hills to climb and the way this share goes I'll be feeling like a geriatric by the time we get there. It is nice to have your fundamental beliefs in the potential of this business not trashed and in the bin. I'll not go on about GM have already stated my concerns on him but it is definitely a positive that he finally did the right thing. Now it feels like starting all over again with a stronger outlook and hopefully a stronger boss. Good luck everyone :)

The relief is just incredible, I had sold half, at huge losses and kept half so have no where near the same amount of shares but at least I can now hope to get some of my money back. I'm also so relieved for some other investors on here who like me
were deeply concerned I hope this helps everyone. A competent RNS - praise the Lord :)

I agree, crl123 has a very pleasant honesty about them. He also makes me annoyed at the lack of support for shareholders and I'm really hoping this share does well for him, my fingers are crossed :)

crl123 - I completely sympathise with your situation here as I do with everyone who has lost. I also agree with your thoughts on what has been happening with this share, Mullis knew the effect his words, or lack of them was having and instead of showing support to Novacyt and its investors he again repeats his "mistake ". I've had 10 years of savings wiped out here, the speed at which it happened without a single word from the CEO says so much about Mullis. Incompetent or purposefully I guess doesn't really matter the result is the same. I have no doubt with the right and morally half decent person as CEO of this company we would not be in this position, but unfortunately we got him. I think it's time they removed his face from the Welcome to Novacyt blog as it really is not a face many want to see.

I agree the BOD are aware of what is going on, Mullis is finished with shareholders, he's got their money and now he wants them gone. Do not be surprised if Mullis and the BOD buy this business. A more blatant purposely driven down share I have seen and Mullis you are an absolute disgrace to do this to people, you have destroyed many a person's financial security and that has been your aim from the moment you secured enough investors money to walk away from the market. Why blame the MMs, they have nothing to support this share with, nothing, Mullis has nothing to do with them so what else are they to do except have nothing to do with him. In my opinion Mullis now has this business exactly where he wants it.

If Astra crashed 70% you think the CEO would stay silent ? Behave like he took his millions of bonus and disappeared without a word ? And you think the shareholders should just accept that ?