The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Ì really hope there is a take over as I have zero faith or confidence in Graham Mullis, his actions regarding shareholders has been appalling and he doesn't seem to have any grasp of sales expertise. Does any shareholder have any idea what or where they are selling ? I hear this 140 countries but does that mean they are for sale or actually selling ? There has been no attempt to play the stock market by issuing numbers or forward predictions just silly twitter messages about making new video recordings and a load of join the dots games. It's been an expensive lesson but I'll never again invest in a company where I have no confidence in the CEO. This is an unbelievable position to be in after all this time, at this time and of course through GMs deliberate lack of communication no one knows anything about any sales beyond the NHS, how can any CEO think that is acceptable ?
It was a pleasant surprise to find some communication here today, they clearly are showing that they at least hear investors concerns. For me it really still needs numbers, the all important forecasts. I know I've mentioned him before but he's just an example when Martin Sorrel releases an RNS its all numbers numbers numbers and they work. I didn't invest here just because of covid but because I have great faith in the research expertise of Novacyt, there's no doubt they are experts in diagnostics but they are not a private company, the market side and what it expects even demands cannot be ignored as much as they might like to or find an inconvenience. A new sales team is only really starting and that will take a little time and fingers crossed they have taken on good people in this essential role. If they could just get the investment/market aspect under control it would certainly give this the boost it needs. But the research and development aspect is undeniably excellent.
An interesting question has always been, 'who owns companies'?
Shareholders rightly know that they own companies, but in reality do they, if they lack effective control.
If directors lack a large enough investor to hold them to account then very often a BOD will largely ignore shareholders and run the company pretty much as if it was their own personal property. When they also are very handsomely rewarded and well insulated from the struggles and worries of the real owners, then there exists the potential for conflict. I suggest GM thinks he has no effective boss and is no longer accountable to anyone. Small shareholders dominate the investor landscape in this share. Further, now debt free and cash laden, what need has he of shareholders or the City. Therefore we need to get organised and band together to take back some control. If we do this we can submit resolutions to any board meeting and vote as we see fit. TOGETHER we are a massive shareholder. Right now we are not being treated as a massive shareholder. At present there is a dangerous misalignment between interests and accountability. This needs to be repaired. If GM takes the credit for the initial share price rise, he must also take responsibility for the bloodbath of destruction of shareholder value which has occurred since and continues unabated. If GM had a boss/large institutional investor to take account of, I suggest this bloodbath would not have occurred. It could be time to also insist on small shareholder representation on the Board to protect our interests. Whatever about long term value, the extent of destruction of value in recent months has to be accounted for, and our interests more closely realigned with the BOD again.
The management are an absolute disgrace, I can see why so many French holders complain so much about Mullis, very few CEOs would sit back and do nothing. What are their contracts abroad, how about letting investors know who is buying and how much, I don't believe every customer has an NDA.
Troublesome - perhaps I should explain more clearly, my opinion of how Mullis has dealt with investors is not very high. His opinion, or yours or anyone else, of me is not something I have even thought about let alone cared for.
When people say Novacyt are selling in 130 countries do they mean they are for sale in these countries or are actually selling, there's a big difference. If Mullis is under NDA with the NHS (IF) I presume that does not apply for all other sales so has anyone any idea of what they are selling and to whom ? Is Mullis ever going to take responsibility for the damaging silence and lack of any positive future ? I'm finding it difficult to understand how some investors can feel so positive about this share when we are never informed, it is extremely disheartening to have your money invested in a company that has such little regard for it's investors. It's easy to say he's doing a great job but last year he was selling a product that was in demand throughout the world so it's not particularly surprising that he was selling - but to whom and for how much ? Obviously I don't share the very high opinion of Mullis that some here have, my - and your - right of course and even if the share price suddenly doubled in the next day my opinion of him would remain the same.
Crl123 - yes it certainly leaves a bitter taste because as you say it has nothing to do with the company, I get the impression Mullis wants nothing to do with them and the feeling is mutual, unfortunately that leaves investors at their mercy and adrift in their mutual disdain. They say one day the fundamentals will have to be acknowledged and the MMs can't keep doing whatever they like but a lot can happen before that day which exposes you to risks that, with a company like this, you shouldn't have to worry about. Such is the City...........
I sent an email to the "Investor relations " over a week ago and still haven't even got an acknowledgement let alone a decent reply. By far the worst company for investors I have ever come across. Down over 40% in a very short space of time and nothing but silence, as usual. Mullis seems quite happy with his large sum in the bank and over £3 million bonus and not a word to investors. Anyone think if Blackrock, or any II owned 70% of the company they would tolerate this ?
Quick draw - when I was thinking about buying Co diagnostics it was about $3 a share, I didn't rate the CEO highly so wouldn't have stayed long probably have left when it went straight up to near $20. I thought Mullis was a much more professional person but as I've discovered a professional who has no interest in shareholders, doesn't now need them. As an investor my faith in him is pretty low. Again all this talk and comments about PROmate, only for Tay I wouldn't even have heard of it and as for the 'care home contracts' they just seem something vague in the long and distant past.
I first invested here right back at the start of the pandemic, I watched the TV interviews Mullis gave and was torn between investing here ir Co diagnostics. My research led me to believe novacyt was by far the superior product so put my money in. After that heard little to nothing from Mullis while Co diagnostics were all over the media and their share rocketed. The silence fro Mullis has always been a concern for me. Fortunately novacyt did rise & I took my profits.
Then I made the mistake of doing what I should never have done and followed all the ramping and "join the dots" and Tays brilliant assessments on Twitter and went back in. I now feel disappointed with my own investment decisions but will just have to sit and wait and hope the price comes back up. I feel Mullis isn't in the slightest bit interested in the market, he couldn't care less about it and the feeling is mutual. Mullis must have been very aware of the "publicity " online his company was getting but has made no attempt to verify, deny or clear any misunderstanding or indeed facts. There doesn't seem to be ANY clear information about this company it's just a basket of guesses, how is any potential investor supposed to feel comfortable with that ?
B2H - talking about transplants, I was reading yesterday about the first recorded covid death during a lung transplant. Both recepitant and donor gave negative PCR results, transplant went ahead, donor had been killed in a car crash no previous contact with covid. Recepitant became very ill and died. A further lower respiratory tract PCR test on the donor showed positive for covid. Unfortunately the surgeon who carried out the transplant also became positive . New guidelines issued stating all transplants must now have lower respiratory tract testing and full PPE for all surgeons despite any negative results. This is the first such death as a direct result of covid, happened in U.S.